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💰 Crypto has been 'validated significantly’ with spot bitcoin ETF approval, says Pantera Capital exec
Pantera Capital’s Franklin Bi told The Block that crypto has been ‘validated significantly’ with this year’s spot bitcoin ETF approval in the U.S., solidifying institutional investors’ conviction in the industry. This year's approval of spot bitcoin exchange-traded funds in the U.S. has provided substantial validation for the crypto industry, according to Pantera Capital general partner Franklin Bi, as the crypto venture capital firm is raising a new mega $1.25 billion fund.
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💰 Bitcoin Whales Bagged $2.8B Worth of BTC in a Day: CryptoQuant
Bitcoin’s recent market correction that dragged the world’s largest cryptocurrency near the low of $56,500 turned out to be a good opportunity for high-profile investors. Data shared by CryptoQuant CEO Ki Young Ju revealed that whales have accumulated a whopping 47,000 BTC – worth more than $2.8 billion in current price – over the past 24 hours alone. This shopping spree signals the beginning of “a new era” for the primary cryptocurrency, according to the exec.
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🇰🇪 Kenya's president discusses the "transformative" economic potential of collaborating with Marathon to bring 💰 Bitcoin mining to the nation
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🥇 VanEck says about $175 billion in bitcoin held by ETFs, nations and companies
VanEck said in a new report that a total of roughly $175 billion in bitcoin is currently being held across the various ETFs, nations and public and private companies that have acquired the popular cryptocurrency. "Bitcoin interest among institutional investors has also increased. Hedge funds, asset management firms, and endowments are increasingly recognizing bitcoin’s potential as a store of value," VanEck said in the report.
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💰 Bitcoin market absorbs 1 million BTC in 5 months
Bitcoin currently trades approximately 20% below its all-time high, the more compelling narrative unfolds within the dynamic flow of coins between short-term holders (STHs) and long-term holders (LTHs). LTHs, holding Bitcoin for over 155 days, typically accumulate during bear markets and distribute during bulls. Their supply peaked at 14.9 million BTC in December 2023 before dropping to 13.9 million in April 2024.
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💰 MicroStrategy Bought 122 Bitcoin In April, Now Holds 214,400 BTC
MicroStrategy, a leading business intelligence and software company, has continued its steadfast commitment to Bitcoin by purchasing an additional 122 BTC in April at a total cost of $7.8 million, Founder & Chairman Michael Saylor announced today. The company initially entered the Bitcoin market in August 2020, making a significant initial investment of $250 million into BTC.
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🇺🇸 DOJ challenges motion to dismiss Tornado Cash co-founder’s charges
The United States Department of Justice (DOJ) has opposed a motion to dismiss conspiracy and money laundering charges against Tornado Cash co-founder Roman Storm arguing that filing raised disputed facts for jury consideration, which is unsuited for early-stage motions. In the DOJ’s response, the prosecutors analyzed why the Tornado Cash co-founder should answer for the alleged crimes levied against him.
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💰 Metaplanet Inc. purchases 1 billion yen worth of Bitcoin
Metaplanet Inc. finalized its acquisition of 97.85 Bitcoins, amounting to a total purchase price of 1 billion Japanese yen. The investment and consulting company, listed on the Tokyo Stock Exchange, announced its purchase in a post on X on April 24. Metaplanet Inc. first announced its plans to purchase Bitcoin on April 8. The Japanese company revealed that the acquisition will total 1 billion Japanese yen, equivalent to approximately $6.25 million.
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💰 ViaBTC's 'epic sat' from fourth Bitcoin halving block sells for 33.3 BTC ($2.13 million)
An "epic sat"—an exceptionally rare satoshi, the smallest unit of bitcoin, from Bitcoin's fourth halving block—sold for over $2 million. This milestone not only signifies Bitcoin's fourth halving but also includes a block identified as an epic 'Rare Satoshi' by the Ordinals numbering system," CoinEx Global wrote on the satoshi's auction page, adding on social media, "This auction isn't just a bidding event; it marked the community recognition, media attention and widespread embrace of Bitcoin."
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💰 Bitcoin miner revenue holding steady following halving
Perhaps the most significant moment of the past week was the bitcoin halving, which happened late in the day on Friday, April 19. As a reminder, the halving happens every 210,000 blocks, or roughly every four years, given that a block gets mined around every 10 minutes and decreases the reward for mining a bitcoin block by half, slowing bitcoin’s issuance.
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🪙 Standard Chartered reverses stance, now says 🇺🇸 SEC unlikely to approve spot Ethereum ETFs in May
Standard Chartered Bank, previously optimistic, has now changed its stance on spot Ethereum exchange-traded funds, saying the U.S. Securities and Exchange Commission is unlikely to approve such funds in May. "We had previously expected the SEC to approve ETH ETFs on May 23," Geoffrey Kendrick, head of Standard Chartered Bank's forex and digital assets research, wrote in a report on Tuesday.
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💰 Bitcoin’s halving fails to stem $206 million outflows as investors shift to altcoins like Polkadot
Crypto-related investment products saw their second consecutive week of outflows in April, with roughly $206 million leaving the market, per CoinShares‘ recent weekly report. Despite Bitcoin’s recent halving, which typically generates excitement in the market, investor interest in the leading digital asset remained subdued, evidenced by outflows totaling $192 million.
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💰 Mt Gox: Euphoria Hits Community As New Repayment Date Comes Into View
Mt Gox may be nearing the final stage of its much-anticipated repayment process to its creditors as the community recently took to Reddit to celebrate the new updates on its website. One Reddit user dubbed Due_Career_4786 stated that the Mt Gox website went down a few days ago due to some suspected technical discrepancies. He precisely mentioned that the glitch was a function of an ongoing update being carried out on the platform.
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💰 Grayscale Reveals 0.15% Fees For Its Bitcoin Mini Trust ETF
Bitcoin ETF provider Grayscale has provided some details of its spin-off fund, the Bitcoin Mini Trust (BTC), including a more competitive 0.15% fee than the uplisted mothership GBTC product, according to a pro forma financials in its latest filing. The filing also provides an illustrative example of the amount of Bitcoin (BTC) Grayscale will contribute to the mini fund: 63,204 bitcoin, or 10% of existing assets in GBTC, as per the filing. Shares of the BTC trust are to be issued and distributed automatically to holders of GBTC shares.
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💰 Bitcoin network completes the fourth-ever ‘halving’.
The Bitcoin network completed its fourth "halving," reducing the rewards earned by miners to 3.125 bitcoins from 6.25.
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💰 Grayscale's Bitcoin ETF Sees First Inflow After Billions Lost Since January
The Grayscale product had been the dominant conventional investment vehicle for those looking to invest in bitcoin (BTC) without directly purchasing the cryptocurrency. But it got competition in January when it was converted into an easier-to-trade ETF at the same time nine rival spot bitcoin ETFs began trading. GBTC has much higher fees, and investors yanked billions of dollars from it. Its bitcoin holdings have dropped from more than 600,000 bitcoin to around 290,000 bitcoin, according to fund data compiled by CoinDesk.
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💰 Marathon Sets New Record by Mining Bitcoin’s Largest Block, Showcasing the Logos’ Manifesto
Marathon has once again set a milestone by mining the largest block ever recorded on the Bitcoin blockchain. Namely, block 841,886, showcased a manifesto of a decentralized technology initiative called Logos, featuring just four transactions with the manifesto. For their efforts, Marathon’s mining pool earned a reward of 3.16977148 BTC, including 0.04477148 BTC, or $2,654.55, collected in transaction fees.
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💰 BlackRock Sees Sovereign Wealth Funds, Pensions Coming to Bitcoin ETFs
Financial institutions are holding diligence and research conversations, with BlackRock playing an educational role, said Robert Mitchnick, the firm's head of digital assets. BlackRock has been talking about bitcoin to these sorts of institutions for several years. While becoming the biggest spot bitcoin ETF would be an impressive milestone, BlackRock says it isn’t really focused on the size competition with Grayscale’s GBTC.
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💰 Bitcoin begins May with plunge to two-month low as crypto market sees widespread losses
The crypto market started the new month of May in red, with Bitcoin’s price plunging to a two-month low of under $56,500. This decline extends the downtrend from April, marking Bitcoin’smost challengingt month since the November 2022 crash triggered by the collapse of the FTX exchange. Bitcoin’s slide mirrors a broader market trend, with major cryptocurrencies like Solana, Ethereum, Cardano, and Avalanche each seeing losses exceeding 7% during this period.
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💰 MicroStrategy continues stacking Bitcoin with $1.65 billion purchase during Q1
MicroStrategy’s first quarter earnings report showed the firm bought roughly 25,250 BTC for $1.65 billion at an average price of $65,232 per BTC during the first three months of the year. With its latest purchases, MicroStrategy now holds 214,400 BTC in total — equating to roughly 1% of the total Bitcoin supply. The firm reported a downturn in revenue but continued to bolster its Bitcoin holdings, highlighting a steadfast commitment to its strategic investment in the flagship crypto.
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🪙 Tether invests $200 million in biotech firm Blackrock Neurotech
Stablecoin issuer Tether has invested $200 million in Blackrock Neurotech, a biotech company that builds tools to help people afflicted with paralysis, lost function, and neurological disorders. The investment was made through Tether's newly formed venture division Tether Evo. With the investment, Tether is now the majority stakeholder in Blackrock Neurotech, the stablecoin issuer said Monday.
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💰 Bitcoiner and author of the book Broken Money explains that in the long term, Bitcoin is correlated to measures of global liquidity rather than 🇺🇸 U.S. stocks
“I view Bitcoin as not only a good performing asset, but one that is tied to global liquidity and is not necessarily correlated to other portfolio assets.”
- Lyn Alden
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💰 Strike CEO Predicts $1 Million BTC Amid COVID-Level Money Printing
Bitcoin could be headed to $1 million after a tsunami of newly printed cash drives up all asset prices, according to Strike CEO Jack Mallers. The executive, whose payments app lets people remit fiat currency around the world on Bitcoin rails, said in a Friday interview that money printing will be required to bail out the U.S. bond market, which he claims is “in trouble for the first time in modern financial history.”According to Mallers, the U.S. government and the Federal Reserve have two options: either let the banking system fail, or print their way out of the mess.
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💰 High Bitcoin fees push active addresses down to 3-year low
Bitcoin network experienced a substantial shift. As the halving event reduced miner rewards, transaction fees skyrocketed to 1,257.71 BTC, marking the highest level since December 2017 and accounting for over 75% of miner revenue for the day. This spike in fees coincided with significant network congestion, particularly exacerbated by new protocols like Runes.
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🇺🇸 US DOJ seeks 36-month sentence and $50 million fine for ex-Binance CEO Changpeng Zhao
The US Department of Justice has recommended a 36-month prison sentence alongside a $50 million fine for the former CEO of Binance, Changpeng Zhao. In response, Zhao’s legal team contends that his incarceration would be unprecedented, citing no prior instances of imprisonment in similar cases. Instead, they proposed an alternative of probation, potentially with home confinement at his residence in Abu Dhabi.
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💰 Spot bitcoin ETFs continue net inflows after a rough last pre-halving week
After breaking a five-day streak of consecutive net outflows on Friday — when the foremost cryptocurrency's block rewards officially halved — spot bitcoin exchange-traded funds in the United States recorded another day of net inflows on Monday. The total net inflow for spot Bitcoin ETFs yesterday was just over $62 million, with the Fidelity Wise Origin Bitcoin Fund garnering the most significant single-day net inflow at $34.83 million, according to data from SoSoValue.
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💰 BlackRock Spot Bitcoin ETF Surpasses MicroStrategy, Holds $18B in 273,596 BTC
The global investment management firm now boasts an impressive stash of 273,596 BTC, valued at a staggering $18 billion, all earmarked for its spot Bitcoin exchange-traded fund (ETF). This significant accumulation positions BlackRock spot Bitcoin ETF as a formidable force in the market, overshadowing competitors and solidifying its status as a major player in the cryptocurrency investment arena.
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💰 JPMorgan CEO Jamie Dimon: Bitcoin Is a Fraud, There's No Hope for BTC as a Currency
JPMorgan Chase CEO Jamie Dimon has doubled down on his anti-bitcoin stance, emphasizing that the crypto is a fraud with no future as a currency. “It’s a Ponzi scheme,” the executive stressed. However, despite his strong opinion about bitcoin, JPMorgan is an authorized participant for Blackrock’s spot bitcoin exchange-traded fund (ETF). Dimon, while advising investors to steer clear of the cryptocurrency, also expressed that he doesn’t want to tell anyone what to do. “It’s a free country,” he emphasized.
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💰 Halving Milestone: Block 840,000 Mined, Ushering in a New Chapter as Bitcoin Miners Face Shrinking Rewards
Bitcoin’s latest halving event occurred at block 840,000 which was mined by Viabtc on Friday evening. Additionally, the mining pool SBI Crypto unearthed the final 6.25 BTC block reward at block height 839,999. Starting with block 840,000, the reward has been reduced to 3.125 BTC per block. The mined block also achieved a whopping 37.626 BTC in transaction fees.
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💰 Binance CEO Richard Teng says this Bitcoin halving is 'unique' due to recent significant events
Binance CEO Richard Teng said that this year’s Bitcoin halving comes amid a positive backdrop for the cryptocurrency and the wider market in general. “In addition to the ETF breakthrough, which has spurred institutional interest and participation, another major current in crypto today is the boom of the Layer 2 and DeFi activity on the Bitcoin network, fueled by the popularity of the Ordinals protocol and Bitcoin inscriptions,” he added.
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