Tag Archives: AA News

A Dutch court has denied bail for Tornado Cash developer Alexey Pertsev, who was convicted of money laundering in May. This decision is a significant setback for Pertsev, who has been held in custody for the past two months without computer or internet access despite being requested in order to prepare for his defense. Pertsev Remains in Custody The Court of Appeal of ‘s-Hertogenbosch ruled that Pertsev will remain in custody as he prepares for his appeal. Despite his defense...

Transaction fees on the Bitcoin network have continued to decline months after its latest peak during the halving event. Data from IntoTheBlock shows that fees on the leading crypto network have decreased by 18% this week after dropping 27% from the previous one. The continuous decline has placed Bitcoin fees at their lowest since November 2023. Bitcoin Fees Are Declining Three months ago, Bitcoin recorded the highest transaction fees among all protocols, including Ethereum....

Even with several high-profile collapses and de-pegging events in recent years, stablecoins have continued to capture market share from fiat, reflecting strong demand increasingly. Although the stablecoin market is still highly concentrated, with Tether’s USDT at the forefront, its dominance has been eroding over the last two years. In fact, Kaiko’s latest data shows a decline in USDT market share. Tether (USDT) is Slowly Losing Market Share In 2024, USDT’s market share on...

Germany’s on-chain Bitcoin wallet balance has officially reached zero, according to Arkham Intelligence, meaning sell pressure from the European economic powerhouse is likely at or near its end. The wallet’s latest outflows bring an end to a bearish narrative that’s hung over the crypto market for weeks, at a time when on-chain indicators are signaling that a local bottom is near. Germany’s Last Bitcoin Sale As of late Thursday, Arkham said that the government had just 4925...

The Security and Exchange Commission’s accounting bulletin 121 (SAB 121) requires companies, including banks, to hold crypto assets for clients as a liability on their balance sheets. This makes it inefficient for large banks to offer crypto custody services. Both the House and Senate passed a bipartisan Congressional Review Act (CRA) resolution to nullify this guidance, which the Biden Administration vetoed in May. However, a House vote to overturn the veto failed to reach...

In a July 11 hearing, Judge Katherine Polk Failla expressed skepticism about Coinbase’s efforts to subpoena SEC Chair Gary Gensler in the ongoing SEC case against the cryptocurrency exchange. As detailed by Inner City Press, the hearing showcased Coinbase’s persistent efforts to acquire Gensler’s communications, including statements made before he became SEC Chair in 2021. Judge Skeptical of Coinbase’s Subpoena Judge Failla stated, “I understood from the SEC’s opening...

Bitcoin’s correction this month may be short-lived as institutions appear to have taken the drawdown as a juicy buying opportunity, according to on-chain data. The findings arise alongside other blockchain-based signals suggesting that Bitcoin’s price is at an appetizing entry point. Institutions Just Bought The Dip As shared by market intelligence platform CryptoQuant on Thursday, “institutions” – loosely defined as Bitcoin wallets holding between 1000 BTC and 10,000 BTC –...

Shares of Bitcoin mining company IREN, formerly known as Iris Energy, tumbled by 24% on the Nasdaq following a report from short-seller firm Culper Research. The paper, released on July 11, labeled the company as “wildly overvalued” and suggested its stock should be valued 52-79% lower than its current market price. HPC Plans and Underinvesting Following the report, according to Google Finance data, IREN’s shares fell 24.5% to $10.36 before partially recovering to $11.20 by...

Litecoin’s network processes a whopping $2.85 billion in transactions, which is over 50% of its market cap. This surpasses the transaction volume of many prominent Layer 1 blockchain networks and potentially demonstrates an increased level of whale activity. For example, Dogecoin has a market capitalization nearly three times that of Litecoin. However, despite its higher market cap, the popular meme coin has a much lower volume of large transactions, with approximately $590...

The former United States president and current Republican presidential candidate, Donald Trump, is set to speak at one of the largest crypto events this month. A tweet by the official Bitcoin Conference X account revealed Thursday that Trump will be one of the speakers at the event, which is scheduled for July 25 to 27 in Nashville, Tennessee. The announcement represents a huge win for the crypto community, as Trump has expressed substantial support for the industry over the...