Crypto news

The stablecoin ecosystem rose to over $164 billion this past week—the last time it did this was before the Terra ecosystem collapse, linked to the UST stablecoin. This spike in market cap implies growing interest in blockchain technology as users buy and trade assets and products, interact with DeFi protocols, and more. Stablecoins are assets that reference the value of other assets, including fiat currencies and precious metals. The value of the most popular stablecoins is tied to the US...

Yet another regional government has disclosed an allocation to the newly launched Bitcoin ETFs, forging another step in Bitcoin’s growing adoption among not only institutions but also governments. In a Form-13F filed on Friday, the State of Michigan Retirement System revealed that it had $6.6 million allocated to Bitcoin ETF products as of June 30. Michigan Buys Bitcoin According to the filing, the pension fund made its first Bitcoin investment through the Ark 21Shares...

Well-known cryptocurrency critic and United States Senator Elizabeth Warren is waging war on digital asset miners, especially foreign-owned facilities, for their supposed risks to environmental and national security. During a recent Senate Committee on Banking, Housing, and Urban Affairs hearing, Warren questioned the Treasury Department’s assistant secretary for investment security, the Honorable Paul Rosen, about the threat such entities pose on U.S. soil. A Threat on U.S....

Steven Fulop, the mayor of Jersey City, New Jersey, has announced that the city’s pension fund will allocate a portion of its investments into Bitcoin ETFs. Fulop also expressed his long-standing belief in cryptocurrency, although he had not publicly mentioned Bitcoin or other assets before July 25. Jersey City Updates Paperwork with SEC In a July 25 post on X, Mayor Fulop announced that they are updating paperwork with the United States Securities and Exchange Commission...

A wallet associated with the Ethereum Foundation has transferred 92,500 ETH, worth $294.9 million, after being inactive for nearly 6.6 years. According to Lookonchain, these tokens have been held at the same address since 2017. The Transfer Details On-chain data indicates that the ETH was originally received from the Ethereum Foundation on September 1, 2015. The transfer, recorded on July 25, occurred just minutes after a smaller transaction of 1 ETH from the same wallet....

The cryptocurrency market has been buzzing with activity following the recent launch of Ethereum exchange-traded funds (ETFs), which attracted significant attention but failed to ignite a major price surge for Ethereum (ETH). This lackluster performance contrasts sharply with the more substantial impact seen from the launch of Bitcoin ETFs. As a result, traders are now shifting their focus to other opportunities, such as the rising interest in RCO Finance (RCOF), in search of fresh profit...

Since the beginning of the month, bitcoin (BTC) flows into crypto exchanges have been on the rise. This is primarily due to creditor distributions by the rehabilitation trustee of the defunct BTC trading platform Mt. Gox. Data from blockchain analytic platform IntoTheBlock has revealed that July 25 saw the exchange BTC net flows hit a yearly high of $2.8 billion. Crypto trading platforms saw similar BTC inflows in mid-March, about two months after the United States spot...

[PRESS RELEASE – VILNIUS, Lithuania, July 26th, 2024] In a significant move this July 2024, BTCC has launched up to 50x leverage on over 300 USDT-margined trading pairs. This development follows the successful introduction of 500x leverage on major trading pairs, including BTC, ETH, XRP, SOL, and DOGE. BTCC has now decided to elevate the futures trading experience by increasing the available leverage from 20x to 50x, setting a new standard in the crypto trading world where...

Bitstamp, one of the five exchanges chosen by Mt. Gox’s bankruptcy estate to effect reimbursements to its creditors, began the process on Thursday. The repayments kicked off three days after Mt. Gox wallets conducted test transactions with and subsequently sent funds to Bitstamp. Bitstamp is sending bitcoin (BTC), Bitcoin Cash (BCH), and Ether (ETH) to creditors who were assigned to the exchange for reimbursements. Most creditors are expected to have their assets within a week after the...

Celebrity memecoins deployed on the Solana network’s pump.fun protocol have tanked severely. Nearly all value has been erased from these projects, leaving investors and the fans of the celebrities the tokens were modeled after experiencing tremendous losses. While some of these projects took a few months to drop, many were pump and dump scams, leaving users in the dirt hours after their launches. The ones that made it a while did not do so for more than 3 months, depicting how the lack of...