Tag Archives: AA News

A recent report from Grayscale Investments revealed an unexpected diversity in Bitcoin (BTC) ownership, with 74% of addresses holding less than 0.01 bitcoin, equivalent to approximately $380. Grayscale’s research dispels the inaccurate public belief that Bitcoin is predominantly owned by a few individuals, revealing around 40% of BTC’s supply is concentrated among institutions like exchanges, miners, governments, public companies, and long-term holders. Bitcoin’s Widespread...

AntPool – a prominent Bitcoin mining pool – has announced its decision to refund the staggering $3 million transaction fee that made headlines last week. The incident occurred when a user mistakenly submitted an 83 BTC gas fee, prompting AntPool’s risk control system to temporarily freeze the transaction during packaging. AntPool to Reimburse 83 BTC Gas Fee According to an update on November 30th, AntPool has set a deadline for the original owner to verify their identity...

Bitcoiners are blasting the British Broadcasting Corporation (BBC) following the outlet’s recent article discussing the blockchain network’s energy consumption. The public broadcaster cited a study claiming that every Bitcoin transaction consumes “a back yard swimming pool” worth of water, though critics say that the claim is based on “junk science.” Does Bitcoin Use Too Much Water? As published on Wednesday, the BBC’s article claimed that Bitcoin’s water consumption relates...

With the highly-anticipated Bitcoin halving just four months away, the world’s largest crypto asset is witnessing a strong rally driven by expectations of growing institutional demand. On December 1st, Bitcoin briefly surged past $38.8k, a threshold not observed since May 2022. Although it quickly dipped below $38.3k, Matrixport’s report presents a compelling case for Bitcoin’s ascent to $125,000 by the end of 2024, drawing on historical trends, halving events, and...

The investment firm Tiger Global has reportedly reduced the valuation of its holdings in Bored Ape Yacht Club and OpenSea. Per a Bloomberg report, the company marked down the value of its investment in Bored Ape Yacht Club (BAYC) by 69% and its stake in the NFT marketplace OpenSea by 94%. The move follows Tiger Global’s decision to write down its $38 million investment in FTX to zero. Tiger Global Investors Experience Losses The Tiger Global’s Private Investment Partners 15...

Several crypto projects have unlocked significant amounts of tokens, with dYdX, a decentralized exchange, leading the way by unlocking 150 million tokens. This represented 30% of the tokens allocated to investors, founders, and current and future employees, and the unlocking occurred on December 1st. DYDX – the native cryptocurrency of the dYdX chain – experienced a decline of only 2%. Whales in Action Following the latest token unlock, three whale accounts, which received a...

Stablecoin issuer Circle has dismissed false claims of facilitating illicit financing activities. In a letter addressed to US Senators Sherrod Brown and Elizabeth Warren, the company also said it does not provide banking services to Justin Sun, the Tron Foundation, or HTX (formerly known as Huobi Global). In February 2023, Circle terminated all accounts belonging to Sun and companies associated with him. “False” Claims of Illicit Financing In response to a previous letter...

The Brazil Senate has approved new rules that will mandate locals to pay up to 15% tax on income generated from cryptocurrencies on offshore exchanges. According to a live recording from the Federal Senate, the new rule applies to crypto users with assets worth more than R$6,000 ($1,200) on all offshore exchanges. Brazilian Crypto Users to Pay 15% Tax The proposed bill has gained approval from the Chamber of Deputies and the Senate’s Economic Affairs Committee. It is on its...

The ProShares Bitcoin Strategy ETF (BITO) – the first bitcoin (BTC) ETF to launch in the United States – has topped a new record for assets under management (AUM) this week, now boasting nearly $1.5 billion in Bitcoin futures contracts. The record signals eagerness among institutions to gain exposure to BTC before approval of a widely expected bitcoin spot ETF by January. Bitcoin Funds Soak In Capital BITO logged its previous record of $1.44 billion on November 10, 2021 –...

Trust Wallet, a leading self-custody and multi-chain wallet boasting over 70 million users, is experiencing issues with its Bitcoin nodes. The heightened transaction volume has reportedly led to instability among various node providers, causing technical difficulties for Trust Wallet users relying on these nodes for their Bitcoin transactions. Trust Wallet Experiences Bitcoin Node Issues According to the post on X, the primary impact experienced by Trust Wallet users is...