Several companies are anticipating the changes expected from the Bitcoin halving next year and have pumped in more mining investments. The Bitcoin mining industry has consistently picked up steam over the last few months. According to a report from Bitcoin mining consultancy and PR firm BlocksBridge Consulting, Bitcoin miner investment commitments have crossed $1.2 billion year-to-date. In its Miner Weekly report, BlocksBridge Consulting notes that since the year began, twelve public...
Read More »SEC, BlackRock, and Fidelity Iron Out Details for Potential Bitcoin ETF
As the SEC engages in detailed discussions with investment giants like BlackRock and Fidelity, the potential approval of a spot Bitcoin ETF seems to be moving closer to reality. The crypto market is abuzz following recent revelation that the Securities and Exchange Commission (SEC) engaged in discussions with major investment firms BlackRock Inc (NYSE: BLK) and Fidelity Investments, to iron out technical details for a potential spot Bitcoin Exchange-Traded Fund (ETF). Spot Bitcoin ETF and...
Read More »Cathie Wood’s Ark Invest Offloads Massive GBTC and Coinbase Shares, Eyes AI Push
While Cathie Wood has been aggressively selling off her investments in crypto firms, she’s making fresh bets in the AI space acquiring shares of top tech companies like Microsoft and Meta. Cathie Wood’s Ark Invest has been doing massive capital rotation by offloading its crypto investments and eyeing a push into AI. Ark Invest executed its most substantial sale in over a year by divesting approximately $12.85 million in Grayscale Bitcoin Trust (GBTC) shares from its Next Generation...
Read More »Active Addresses on Litecoin Network Reach Record High Four Months after LTC Halving
The number of daily transactions on the Litecoin network reached an all-time high of 1.09 million on November 14, surpassing even Bitcoin’s transaction count of around 523,284 at the same time. In a remarkable turn of events, the Litecoin (LTC) network has experienced an impressive surge in active addresses, achieving a new all-time high merely four months after the recent halving in August. As of December 8, 2023, blockchain data analytics company IntoTheBlock said the protocol had...
Read More »Circle: 51% of Consumers Latin America Use Digital Assets for Purchases
Latin America has identified that regulated, blockchain-based financial services will soon be the order of the day. The world of finance, as we have it today, has changed drastically, and stablecoins and tokenized data may be at the center of this change. So much so, that what used to be a difficult task for businesses and private individuals, especially in international payments and settlements, has now become significantly easier. For clarity, transactions worth over $7 trillion were...
Read More »FTX Challenges IRS $24B Tax Claim, Citing Unsubstantiated Figures
FTX’s legal team noted in the filing that paying the $24 billion could impede the repayment of funds to the exchange victims. Lawyers representing the bankrupt cryptocurrency exchange FTX have contested the United States Internal Revenue Service (IRS) claim of $24 billion in unpaid taxes. The attorneys insist that the IRS must substantiate its demands, urging the tax agency to provide evidence supporting its assertion. In a recent filing with a Delaware bankruptcy court on November 10, the...
Read More »El Salvador’s Bitcoin-Backed Volcano Bonds Get Regulatory Approval
By securing outside funding support through the pioneering Volcano Bonds, El Salvador can continue progressing with Bitcoin integration across governmental services and society. El Salvador has successfully overcome a significant regulatory hurdle as it pursues the introduction of Bitcoin-backed sovereign debt instruments, referred to as “volcano bonds”. The nation’s Digital Assets Commission has provided the necessary approvals for the bonds to proceed, marking a significant milestone in...
Read More »Binance Introduces Fusionist (ACE) as 40th Project Released on Launchpool
Binance has announced a new project on its Launchpool called Fusionist (ACE), the native token for the Endurance blockchain. Major crypto exchange Binance has introduced a new project on the Binance Launchpool – Fusionist (ACE). According to an official announcement, the ACE token is the native token of decentralized social blockchain Endurance. The blockchain will house Fusionist, a web3 AAA game. Binance’s announcement specifies that the total token supply is 147 million ACE. The...
Read More »Solana Price Drops Under $70, Watch Out These Key Support Levels for SOL
Solana’s network activity has surged significantly and the current drop in the SOL price could be short-lived leading to a trend reversal soon. Amid strong sell-off in the broader cryptocurrency market, Ethereum Layer-1 competitor Solana is also facing some selling pressure. In the last 24 hours, the Solana (SOL) price has tanked by over 3% slipping under $70. SOL is trading nearly 10% down from its 2023 peak attained last week, however, it still maintains 13% gains on the weekly charts....
Read More »Fed Decision and Inflation Report to Trigger Market Volatility
This week, the decision from the Fed regarding interest rates and inflation statements for November will be released. These are both expected to trigger market volatility. As the year wraps up, Bloomberg is predicting that several key events this week will lead to increased stock market volatility. The first of these is the decision by the Fed on interest rates. Ever since the record increases in interest rates back in March 2022, market watchers have been even more on edge regarding...
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