The price of Bitcoin has plummeted more than 7.5% in the last 24 hours, plunging to around $62,000 on several major exchanges. At the time of this publication, Bitcoin is trading at approximately $64,300 per unit. Bitcoin's downfall was not an isolated event. The S&P 500 index, which comprises the largest American companies, also experienced a significant decline in the past week, accentuated on the last business day. The same occurred with markets in other countries, indicating a global market reaction. The primary apparent reason for these market movements is the escalating tensions in ..read more

  On numerous occasions, China has banned various activities with bitcoin (BTC) and cryptocurrencies, including trading, transactions, and mining. For this reason, in mainland China, the launch of exchange-traded funds (ETFs) based on this type of financial asset is not permitted. However, Hong Kong, while part of China, is considered a 'special administrative region' able to govern itself separately from mainland China in certain cases, one of which is the ability to regulate Hong Kong-based investment firms. When it comes to crypto, Hong Kong allows companies and residents to invest, p ..read more

Sam Bankman-Fried's sentence of 25 years came down this week, following his lawyers and family making all possible attempts at getting him a shorter sentence. Here we will review those attempts, knowing that ultimately in the end, they failed.  Sam's Parents Fear His Social Awkwardness Puts him in 'Extreme Danger' in a Prison Environment... Sam's family made a desperate plea to the judge, begging for leniency in his sentencing for the FTX cryptocurrency fraud case. His parents, Barbara Fried and Joseph Bankman, warned that their son's social awkwardness and inability to read social cue ..read more

That's what one lucky trader who used crypto exchange Bitmex managed to do yesterday.  As the market was in freefall and clearly intending to 'buy the dip' - the still anonymous user's 'dip' was more like a massive free leading deep under ground, finally landing at a discount of about $54,000! The Obvious Question: How!? It's important to note that there is no official answer to this question, yet. The exchange says they're "investigating the massive sell orders to better understand the circumstances that led to this unusual market activity". We do know someone dumped 400 BTC onto th ..read more

The USDT (Tether) stablecoin, issued by the Tether company, has exceeded $100 billion in market capitalization for the first time ever. While used on many blockchains, the Ethereum and Tron blockchains account for 99% of the total supply.  This achievement not only reinforces USDT's position as the leading stablecoim , but also widens its lead over its main competitor, Circle's USDC , which currently boasts a market capitalization of just $28 billion.  Tether Says Every USDT Token is Backed 1:1 with the US Dollar - This Was Once a Controversial Claim...  "A few years ago there ..read more

With the approval of Bitcoin ETF's in the US, many were expecting to see the gains in Bitcoin's price to continue, but despite optimistic forecasts that the long-awaited ETFs would trigger a bitcoin price surge, the opposite happened - now we're learning why. Heavy selling by FTX's bankruptcy estate appears to be a major contributor to bitcoin's price drop since the launch of US ETFs. The Grayscale Bitcoin Trust (GBTC) was among those receiving ETF approval, so they converted their 'Trust' account into an ETF on January 11.  FTX had purchased 22.3 million shares of GBTC valued at ..read more

On January 5th, just two days after Bitcoin's 15th anniversary, a mysterious transaction has the cryptocurrency community scratching their heads. Someone sent 27 Bitcoin (approximately $1.2 million) to the network's genesis address, the very first wallet ever created that mined the first block of Bitcoin's blockchain. This legendary wallet, once controlled by the elusive Satoshi Nakamoto, has become a digital monument to the birth of Bitcoin. The sender's history reveals only a single transaction: the withdrawal of 27 Bitcoin from the Binance exchange followed by their immediate transfer to S ..read more

The crypto industry in the United States is making sure their voice is heard before the 2024 elections.  Their primary method of accomplishing this - a Political Action Committee (Super PAC), which is an organization able to raise and spend an unlimited amount of money on political activism - such as funding ads for, or against specific candidates.  Going by the name 'Fairshake PAC' they have only one goal - a reasonable and clear regulatory landscape for crypto. This means companies no longer having to guess if SEC believes a 50 year old law written before the internet existed wil ..read more

  Do Kwon, founder of the failed Terra and Luna cryptocurrencies, will not be extradited to the United States for now. This is because a Montenegro appeals court ordered the suspension of the extradition ruling and a restart of the court case. The Court of Appeals Gives Kwon a Small Win... Following an appeal filed by Kwon's defense lawyer, the Podgorica High Court's decision to authorize Kwon's extradition has now been revoked. Kwon's case has been ordered returned to trial court to start a new case against him. This overturns November's ruling that all legal requirements were met for ..read more

Major asset management company VanEck filed its fifth amended application for a spot Bitcoin Exchange-Traded Fund (ETF). This move marks a new chapter in the evolution of cryptocurrencies and their integration into mainstream financial markets. VanEck's proposed ETF will trade under the unique ticker symbol "HODL"... A widely used term within the Bitcoin community. "HODL" stands for "hold on for dear life" and represents a long-term investment strategy where individuals buy and retain their Bitcoin, unfazed by market volatility. This choice of ticker reflects VanEck's alignment with the cor ..read more