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Coinbase Q1 Earnings Surge to $1.6 Billion
-Coinbase announced a remarkable first quarter, with revenue reaching $1.6 billion, marking a substantial 72% increase from the previous quarter and a significant rise from $736 million in the same period last year. The company also reported a notable swing in net income, posting $1.18 billion for the quarter compared to a loss of $79 … Continue reading "Coinbase Q1 Earnings Surge to $1.6 Billion"
Tether Partners with Chainalysis Amid Rising Regulations
-Tether announced on Thursday its collaboration with blockchain surveillance firm Chainalysis to monitor transactions involving its tokens on secondary markets. The move aims to enhance Tether’s ability to identify and address potential risks associated with illicit activities such as terrorist financing and sanctions evasion. The monitoring system, which includes capabilities for international sanctions compliance and … Continue reading "Tether Partners with Chainalysis Amid Rising Regulations"
LayerZero Begins Snapshot for Airdrop, Teases Future Drops
-LayerZero has taken a snapshot as it gears up for its anticipated airdrop, scheduled for the first half of 2024. A snapshot typically precedes outflows as investors participating in airdrops often redistribute liquidity to other projects. Developers of the cross-chain interoperability protocol hinted at additional airdrops in the pipeline, signaling ongoing developments within the ecosystem. … Continue reading "LayerZero Begins Snapshot for Airdrop, Teases Future Drops"
BlackRock Foresees Influx of Sovereign Wealth Funds and Pensions into Bitcoin ETFs
-Robert Mitchnick, BlackRock’s(NYSE:BLK) head of digital assets, revealed that financial institutions are engaging in diligence and research discussions, with BlackRock providing educational support. BlackRock has been actively discussing bitcoin with these institutions for several years. Despite the recent break in inflows into spot bitcoin exchange-traded funds, BlackRock anticipates a resurgence driven by a new wave … Continue reading "BlackRock Foresees Influx of Sovereign Wealth Funds and Pensions into Bitcoin ETFs"
MicroStrategy Reveals Plan for Bitcoin-Based Decentralized Identity System Using Ordinals
-MicroStrategy, known as the largest corporate holder of bitcoin, has announced its intention to develop a decentralized identity service utilizing Ordinals inscriptions. Earlier this year, the software consulting firm rebranded itself as a “bitcoin development company,” emphasizing its commitment to advancing the Bitcoin network through various means such as financial markets, advocacy, and innovation. The … Continue reading "MicroStrategy Reveals Plan for Bitcoin-Based Decentralized Identity System Using Ordinals"
MoonPay Teams Up with PayPal to Simplify Crypto Purchases for US Users
-MoonPay, a popular cryptocurrency purchasing app, has forged a partnership with financial services behemoth PayPal to offer American users a streamlined method for buying cryptocurrencies using their PayPal accounts. This collaboration aims to streamline the process of purchasing cryptocurrencies for millions of Americans. It enables users to conduct wallet transfers, bank transfers, and debit card … Continue reading "MoonPay Teams Up with PayPal to Simplify Crypto Purchases for US Users"
JPMorgan Attributes Crypto Market Sell-Off to Retail Investors
-JPMorgan, a prominent financial institution on Wall Street, maintains a cautious outlook on cryptocurrency markets in the short term due to several factors, including the fading retail impulse and the absence of positive catalysts. According to the bank’s analysis, retail investors were significant contributors to the recent sell-off in both crypto and equity assets during … Continue reading "JPMorgan Attributes Crypto Market Sell-Off to Retail Investors"
New US Bill Aims to Clarify Taxation of Staking Rewards
-Two bipartisan lawmakers, Reps. Wiley Nickel, D-N.C., and Drew Ferguson, R-Ga., have introduced the Providing Tax Clarity for Digital Assets Act. The bill aims to clarify that staking rewards should only be taxed at the time of their sale to prevent double taxation. Rep. Ferguson emphasized the need for clarity in the treatment of digital … Continue reading "New US Bill Aims to Clarify Taxation of Staking Rewards"
Securitize Raises $47M Led by BlackRock for RWA Tokenization
-Securitize, a leading player in RWA tokenization, has closed a significant $47 million funding round, with BlackRock spearheading the investment. This collaboration underscores the growing momentum and promise within the RWA tokenization landscape. The investment round, announced on May 1, saw participation from key financial institutions including Hamilton Lane, ParaFi Capital, and Tradeweb Markets. The … Continue reading "Securitize Raises $47M Led by BlackRock for RWA Tokenization"
Bitcoin ETFs Show Record Discounts, Signaling Stress
-Spot-Bitcoin exchange-traded funds (ETFs) are exhibiting signs of stress as the cryptocurrency market endures a downturn, with prices of major ETFs tracking Bitcoin witnessing significant discounts to their underlying asset values. Following a roughly 5% decline in Bitcoin’s price, several leading ETFs recorded their largest discounts on the value of underlying assets in their short … Continue reading "Bitcoin ETFs Show Record Discounts, Signaling Stress"
Bitcoin Hits Record 1.6M Confirmed Daily Transactions
-On April 23, three days after the Bitcoin halving event, an impressive 1.6 million unique Bitcoin transactions were recorded, according to data from Blockchain.com and Glassnode. This notable increase in transactions indicates a growing interest in using Bitcoin for everyday transactions, expanding its conventional role beyond being merely a store of value. Bitcoin Runes Lead … Continue reading "Bitcoin Hits Record 1.6M Confirmed Daily Transactions"
MicroStrategy Shares Plummet 17% Amid Crypto Stock Selloff
-Major U.S. crypto stocks, including bitcoin stockpiler MicroStrategy and leading exchange Coinbase, experienced significant losses in Tuesday’s trading session. MicroStrategy reported a 5% year-over-year decrease in first-quarter revenue, contributing to a sharp decline in its share price. MicroStrategy’s shares plummeted by as much as 17% on Tuesday following news of its missed earnings and the … Continue reading "MicroStrategy Shares Plummet 17% Amid Crypto Stock Selloff"
Bitcoin Investor Roger Ver Arrested for Alleged Tax Fraud
-Roger Ver, an early investor in Bitcoin, has been arrested and charged with mail fraud, tax evasion, and filing false tax returns. The U.S. Department of Justice announced the charges, revealing that Ver allegedly concealed Bitcoin ownership from the U.S. Internal Revenue Service (IRS), leading to an estimated loss of $48 million. The indictment, recently … Continue reading "Bitcoin Investor Roger Ver Arrested for Alleged Tax Fraud"
Coinbase Adds Lightning Network Support with Lightspark
-Coinbase, the largest crypto exchange in the United States by trading volume, has initiated support for the Lightning Network starting today, marking a significant step towards enabling faster and more cost-effective bitcoin transactions for its users. The integration follows seven months after Coinbase confirmed its decision to incorporate the Lightning Network protocol, aligning with competitors … Continue reading "Coinbase Adds Lightning Network Support with Lightspark"
Hong Kong Bitcoin and Ether ETFs Debut with Low Activity
-The launch of crypto exchange-traded funds (ETFs) in Hong Kong fell short of expectations, with trading volumes significantly lower than anticipated. Trading volume for Hong Kong’s crypto ETFs totaled just over $11 million, with bitcoin ETFs accounting for $8.5 million and ether ETFs for $2.5 million. This figure paled in comparison to initial projections, which … Continue reading "Hong Kong Bitcoin and Ether ETFs Debut with Low Activity"
Backed Raises $9.5M Led by Gnosis in Crypto’s Asset Race
-Switzerland-based Backed has successfully closed a $9.5 million fundraising round, with Gnosis leading the investment charge. According to one asset management company’s forecast, the tokenized real-world asset market could reach a staggering $10 trillion by the decade’s end. Backed, a tokenized asset issuer, announced on Tuesday that it secured $9.5 million in funding, with Gnosis … Continue reading "Backed Raises $9.5M Led by Gnosis in Crypto’s Asset Race"
Wasabi Wallet and Phoenix Exit US Amid Crypto Wallet Crackdown
-In response to mounting regulatory pressure, Wasabi Wallet and Phoenix have ceased operations for customers in the United States. The companies behind these wallets, zkSNACKs and ACINQ respectively, announced the suspensions following recent actions taken by U.S. authorities against similar cryptocurrency services. zkSNACKs has taken proactive measures to block access to its services from U.S. … Continue reading "Wasabi Wallet and Phoenix Exit US Amid Crypto Wallet Crackdown"
South Korea Establishing Crypto Investigative Unit Amid Crime Surge
-South Korea is taking proactive measures to address the surge in cryptocurrency-related crimes by considering the transformation of its temporary crypto-crime investigative unit into a permanent department, as per a local report. The nation witnessed a substantial increase in suspicious transaction reports from crypto companies, prompting the government to enhance its efforts in combating fraudulent … Continue reading "South Korea Establishing Crypto Investigative Unit Amid Crime Surge"
Ether Gains Weekly Against Bitcoin Amid BTC Dominance Drop
-Ether has demonstrated strong performance against Bitcoin for two consecutive weeks, indicating a growing interest in altcoin gains following recent market developments, according to analysts at Bitfinex. Despite bitcoin’s halving event, ether recorded a notable 7.5% increase in its trading pair with BTC, marking its most significant weekly gain against bitcoin since early January. Bitfinex’s … Continue reading "Ether Gains Weekly Against Bitcoin Amid BTC Dominance Drop"
Bitcoin Testnet Experiences Disruption Due to Griefing Attack
-A recent griefing attack on the Bitcoin testnet has caused significant disruption, leading to the generation of three years’ worth of blocks in just one week. Griefing attacks involve intentionally spamming transactions on a network, increasing its workload, and disrupting its normal operations. Jameson Lopp, co-founder and Chief Security Officer of Casa, publicly claimed responsibility … Continue reading "Bitcoin Testnet Experiences Disruption Due to Griefing Attack"
Trust Wallet Returns to Google Play Store
-Trust Wallet has made a swift return to the Google Play Store after experiencing a temporary removal on Monday morning, causing concern among Android users relying on the crypto wallet service. The company addressed the issue via its official channels, acknowledging Google’s decision to temporarily remove the app from the Play Store. Despite submitting an … Continue reading "Trust Wallet Returns to Google Play Store"
Tether Acquires Majority Stake in Blackrock Neurotech
-Tether, the prominent issuer of stablecoin USDT, announced on Monday a significant investment of $200 million to acquire a majority stake in Blackrock Neurotech, a pioneering brain-computer interface company. Through its venture capital arm, Tether Evo, the company aims to support the development and commercialization of Blackrock Neurotech’s groundbreaking medical devices. Blackrock Neurotech specializes in … Continue reading "Tether Acquires Majority Stake in Blackrock Neurotech"
Binance Faces Class-Action Lawsuit in Canada, CZ Potentially Facing 36 Months in Prison
-Cryptocurrency exchange Binance finds itself entangled in a fresh legal battle as a new class-action lawsuit unfolds in Canada. Plaintiffs allege that Binance has run afoul of local securities regulations. The Ontario Superior Court of Justice has initiated a certification motion for a class-action lawsuit against Binance. The core accusation revolves around the sale of … Continue reading "Binance Faces Class-Action Lawsuit in Canada, CZ Potentially Facing 36 Months in Prison"
MicroStrategy’s Saylor Profits from Bitcoin Surge
-Michael Saylor’s bold move to embrace Bitcoin in 2020 has yielded substantial gains for the co-founder and executive chairman of MicroStrategy Inc (NASDAQ:MSTR). Saylor has reportedly earned around $400 million from pre-planned daily sales of approximately 5,000 shares of MicroStrategy since January, fueled by the stock’s remarkable surge. The stock, which has doubled this year … Continue reading "MicroStrategy’s Saylor Profits from Bitcoin Surge"
Bitcoin ETFs Slow: BlackRock’s IBIT Streak Ends, Fidelity Sees Outflows
-This week witnessed a notable shift in the momentum of two of the most successful exchange-traded fund launches in history. BlackRock’s (NYSE:BLK)spot Bitcoin ETF, IBIT, renowned for its remarkable performance, experienced zero inflows on Wednesday and Thursday, marking the end of its 71-day streak of fresh investments totaling approximately $17.24 billion in assets under management … Continue reading "Bitcoin ETFs Slow: BlackRock’s IBIT Streak Ends, Fidelity Sees Outflows"
US Bitcoin ETFs: Daily Outflow Hits $120M
-Total net outflows from 11 U.S. spot bitcoin ETFs reached $120 million on Wednesday, with eight products recording zero flows, a trend deemed normal by analysts. Grayscale’s GBTC witnessed $130.42 million exiting the converted bitcoin ETF, while Fidelity and Ark Invest’s funds were the sole recipients of inflows, totaling approximately $10 million. Among the eight … Continue reading "US Bitcoin ETFs: Daily Outflow Hits $120M"
Bitcoin Ownership Surges as Small Addresses Hit Record High
-A recent report from Fidelity Digital Assets highlights a substantial increase in the number of Bitcoin addresses holding at least $1,000 worth of Bitcoin (BTC). Fidelity’s analysts reveal that this segment soared to an unprecedented 10.6 million wallets in mid-March, marking a doubling from the 5.3 million addresses recorded in 2023. The surge in Bitcoin … Continue reading "Bitcoin Ownership Surges as Small Addresses Hit Record High"
BlackRock’s Bitcoin ETF Sees Inflow Boom End
-For 71 consecutive days, BlackRock Inc.’s Bitcoin fund experienced an impressive streak, accumulating nearly $18 billion in one of the most significant exchange-traded fund launches in history. However, investor interest has waned as the fervor surrounding cryptocurrencies subsided. Data compiled by Bloomberg reveals that daily inflows into the ETF, identified by the ticker IBIT, dwindled … Continue reading "BlackRock’s Bitcoin ETF Sees Inflow Boom End"
Bitcoin Achieves All-Time Low Inflation Rate Post-Halving
-Bitcoin’s inflation rate has plummeted to a historic low of approximately 1.74% following the recent Bitcoin halving. With 93.3% of Bitcoin already mined, amounting to 19.6 million out of a possible 21 million BTC, the scarcity element is poised to escalate demand, potentially propelling the leading cryptocurrency’s price surge. In contrast, fiat currencies grapple with … Continue reading "Bitcoin Achieves All-Time Low Inflation Rate Post-Halving"
Runes Dominate 68% of Post-Halving Bitcoin Transactions
-Runes, resembling BRC-20s, emerge as a significant protocol utilizing the Bitcoin network, claiming a substantial 68% share in Bitcoin transactions since the halving. However, Bitcoin miners face diminishing returns amidst this surge. Similar to BRC-20s, Runes operates by compensating fees in Bitcoin to mint new tokens. Differing from Ordinals’ “inscription” account model, Runes utilizes the … Continue reading "Runes Dominate 68% of Post-Halving Bitcoin Transactions"
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