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Crypto, Bitcoin and Blockchain News Admin: @wanwangg More Crypto News: @BitcoinBreaking
🇮🇳 India gears up for sweeping crypto regulations with new consultation paper
The Indian government is preparing to introduce comprehensive regulations for the crypto sector, local media reported on Aug. 22. Sources familiar with the matter said the first step of the plan is to release a consultation paper in the coming weeks that will invite feedback from stakeholders. The initiative highlights the government’s commitment to establishing a regulatory framework for digital currencies in India.
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JUST IN: 🇩🇪 German authorities seize 13 Bitcoin ATMs and nearly €25 million in cash in a crackdown on operators allegedly violating KYC/AML laws
🤝 @Cryptocurrency_Inside ✅
💰 El Salvador launches Bitcoin training for 80,000 public servants
El Salvador’s National Bitcoin Office (ONBTC) has launched a Bitcoin training and certification program for 80,000 public servants. In an Aug. 20 statement, ONBTC confirmed that Bitcoin education is now a vital component of a governance initiative designed for public sector employees. This program is part of the Higher School of Innovation in Public Administration (ESIAP), established by President Nayib Bukele in 2021 to elevate governance standards.
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💰 Bitcoin ETFs see 14% growth in institutional interest during Q2 despite downturn
Bitwise CIO Matt Hougan highlighted a notable increase in institutional investments in Bitcoin exchange-traded funds (ETFs) during the second quarter despite BTC value declining 12% over the three months. According to him, the number of institutional investors holding Bitcoin ETFs grew by 14% quarter-over-quarter, rising to 1,100 from 965. These investors now control 21.15% of the total assets under management (AUM) in Bitcoin ETFs, up from 18.74%. By the end of Q2, institutional holdings in Bitcoin ETFs totaled $11 billion.
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💰 Bitwise AUM surpasses $4.5 billion, expands to Europe with ETC Group purchase
Bitwise Asset Management has announced the acquisition of ETC Group, a London-based digital asset manager known for creating Europe’s largest physical Bitcoin ETP, BTCE. This strategic move elevates Bitwise’s assets under management (AUM) to over $4.5 billion and enhances its capability to serve European investors with institutional-grade products.
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💰 PayPal founder and billionaire Peter Thiel says #Bitcoin is so big that society didn't even know how to process it
🤝 @Cryptocurrency_Inside ✅
🐶 After famous Notcoin, Telegram organized new airdrop among users: #DOGS!
Your airdrop depends on
⚫ Account age
⚫ Telegram premium sub
⚫ OG status
Check and claim your #DOGS here
You can sell your tokens on Bitget premarket, price is around $0.01!
And it will be listed on OKX on the 20.th this month.
💰 Bitfarms boosts production by 33%, increases Bitcoin holdings above 1,000 BTC
Bitfarms said its Bitcoin production and holdings increased last month despite the rising mining difficulty, according to an Aug. 31 statement. The crypto miner revealed a 33.8% rise in Bitcoin production for July, attributed to a higher hashrate. Bitfarms mined 254 BTC in July, up from 189 BTC in the previous month. The firm also grew its hashrate to 11.1 EH/s by the end of July from 10.4 EH/s.
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🪙 Ethereum turns 9 with a $400B market cap and 2.45B transactions
The network, launched on July 30, 2015, was co-founded by several prominent crypto stakeholders, including Vitalik Buterin, Polkadot’s founder Gavin Wood, Consensys CEO Joseph Lubin, and Cardano’s founder Charles Hoskinson. Since then, it has become the second-largest blockchain with a huge ecosystem that has birthed many copy-cats. According to Etherscan, the network has processed 2.45 billion transactions in 20.4 million blocks during its nine-year history.
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🇺🇸 Spot ETF Inflows to Have Weaker Effect on Ether Than Bitcoin – CryptoQuant
The first wave of spot Ethereum exchange-traded funds (ETFs) in the United States debuted on July 23, with inflows running above $100 million. While the positive flows signal a strong start for the funds, ether (ETH) may not witness the parabolic uptrend bitcoin (BTC) saw after asset managers launched its ETFs earlier this year.
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💰 Marathon Digital’s CEO hints at potential Bitcoin buys through convertible notes
Bitcoin miner Marathon Digital CEO Fred Thiel suggested that the firm could raise capital through convertible bonds to purchase more of the flagship digital asset in the future. This follows the firm’s recent purchase of $100 million worth of Bitcoin, raising its total holdings to over 20,000 BTC. This statement aligns with the firm’s promise to make periodic strategic acquisitions of the top crypto and adopt a full HODL strategy.
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🇷🇺 Russian lawmakers pass bill legalizing Bitcoin mining, crypto payments for international trade
The Russian State Duma passed a bill legalizing Bitcoin mining and allowing the use of crypto for international trade. The bill, which was first introduced a few years ago, is expected to take effect on Sept. 1, pending final approval from the federation. Based on local reports, the vote tally from the session was conclusive, with 404 votes in favor, representing 89.8% of the total. No members voted against or abstained from voting.
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🪙 Spot Ethereum ETFs get final sign off to begin trading Tuesday
Some spot Ethereum exchange-traded funds have received the go-ahead and can begin trading on Tuesday, following weeks of back-and-forth on edits to registration statements. The U.S. Securities and Exchange Commission allowed registration forms from 21Shares, Bitwise, BlackRock, Fidelity, Franklin Templeton, VanEck and Invesco Galaxy to go effective as of Monday afternoon. Registration forms for the Grayscale Ethereum Trust and the Grayscale Ethereum Mini Trust also went effective on Monday.
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🪙 Ether price may dip after ETF 'novelty' wears off due to surging supply
Ethereum’s price might decline after the initial buzz surrounding spot Ethereum exchange-traded funds (ETF) wears off if its supply continues to increase at the current rate, according to an analyst. “If the supply of ETH keeps increasing by ~60k/month like it has been since April, then by Dec the supply will be back to what it was at the merge,” crypto trader and Into The Cryptoverse founder Benjamin Cowen wrote in a July 19 X post, referring to when the much-anticipated Merge transitioned Ethereum.
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💰 Bitcoin reaches local price bottom amid indicators of upcoming positive momentum: CryptoQuant
The price of bitcoin seems to have bottomed out after recovering to a high of almost $66,000 earlier this week, according to CryptoQuant analysts. Thursday's CryptoQuant Weekly report noted that the recent drop in bitcoin's price to a low of around $55,000 last Wednesday resulted in the largest realized losses for the digital asset's holders so far in 2024.
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🪙 US-traded spot Ethereum ETFs amass $2 billion in inflows
Spot Ethereum (ETH) exchange-traded funds (ETFs) inflows surpassed $2 billion in nearly four weeks, when excluding Grayscale’s ETHE outflows of nearly $2.5 billion, based on Farside Investors’ data. ETF Store CEO Nate Geraci highlighted that if this cumulative value is considered under one ETF, it would equate to the fourth-largest ETF launch to date.
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💰 Brazilian Regulator Grants Approval for Second Solana ETF in the Country
The Brazilian Securities and Exchange Commission (CVM) has greenlighted a second Solana exchange-traded fund (ETF) weeks after it approved its first one on August 8. According to the CVM’s central database, the product will be launched by Hashdex, an asset manager based in Brazil, in collaboration with the local investment bank BTG Pactual.
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💲 Global liquidity rose to $174.67 trillion, a new all-time high
The figure has grown by $1.13 trillion in the past week alone
💡Global liquidity is the total amount of money circulating in the global financial system, including cash, bank deposits, money market mutual funds, and other assets close to money.
🤝 @Cryptocurrency_Inside ✅
💰 BlackRock’s IBIT boosts Bitcoin ETFs with $92.7 million inflow, total now $20.5 billion
Data from Farside shows that Bitcoin ETFs experienced a net inflow of $62.1 million, marking the largest since Aug. 8. The primary contributor to this surge is BlackRock’s IBIT, which alone attracted an impressive $92.7 million, bringing its total net inflow to a staggering $20.48 billion. Fidelity also saw a modest inflow of $3.9 million. However, not all Bitcoin ETFs performed positively—Bitwise’s BITB and Galaxy Invesco’s BTCO were the only issuers to experience outflows, losing $25.7 million and $8.8 million, respectively.
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💰 Malaysian authorities arrest seven individuals for power theft linked to bitcoin mining: report
Malaysian authorities have arrested seven individuals for allegedly conducting bitcoin mining operations involving electricity theft, according to local media reports. Bernama, the country’s national news agency, reported on Saturday that three local residents and four foreign nationals were arrested and detained separately last week on suspicion of stealing electricity to power their bitcoin mining operations.
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🗣️ Co-founder of BitMEX, Arthur Hayes, believes that for an altcoin season to begin, Bitcoin must surpass $70,000 and Ethereum $4,000.
He also predicts that if these levels are reached, Solana could rally to $250 during the next altcoin season.
What’s your prediction for Solana’s price?
🌚 - $180
❤️ - $250
⚡️ - $350
🐳 - $500
🤝 @Cryptocurrency_Inside ✅
💰 Lummis unveils the BITCOIN Act to establish strategic BTC reserve for the US
Following her announcement of a historic proposal to supercharge the US dollar and pay down the national debt by establishing a strategic Bitcoin reserve, US Senator Cynthia Lummis (R-WY) officially introduced the “Boosting Innovation, Technology, and Competitiveness through Optimized Investment Nationwide (BITCOIN) Act” in the Senate on July 31.
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🇺🇸 US government-associated crypto wallet transfers $2 billion of DOJ-seized bitcoin: Arkham data
A wallet labeled as belonging to the U.S. government transferred $2 billion worth of bitcoin to an unidentified wallet on Monday, according to Arkham Intelligence data. The nearly 28,000 BTC, valued at over $2 billion, appears to be tied to funds the U.S. Department of Justice previously confiscated from the now-defunct dark web market Silk Road. Late last year, a U.S. appeals court finalized a mandate that formalized the forfeiture of 69,370 of bitcoin and other crypto connected to Silk Road.
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🇺🇸 U.S. presidential candidate Robert F. Kennedy Jr. promises to issue Bitcoin-related executive orders if elected
U.S. presidential candidate Robert F. Kennedy Jr. promised to issue several Bitcoin related executive orders on his first day in office if elected president. Kennedy, who is running as an independent, said he would direct the U.S. Department of Justice and the U.S. Marshals Sevice to transfer about 200,000 Bitcoin held by the U.S. government to the Department of Treasury to be held as a "strategic asset."
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💰 Jersey City pension fund amends regulatory documents to include Bitcoin ETF exposure
Jersey City Mayor Steven Fulop has announced plans to invest a portion of the city’s pension fund in Bitcoin exchange-traded funds (ETFs), highlighting a significant step toward integrating crypto into municipal financial strategies. In a social media post on July 25, Fulop shared that the Jersey City pension fund is updating its documentation with the US Securities and Exchange Commission (SEC) to include Bitcoin ETFs. Jersey City is the second largest city in the state of New Jersey.
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🪙 Spot Ethereum ETFs generate over $1 billion in trading volume on first day
Seven months after Bitcoin made its big debut on Wall Street, it was Ethereum's time to enter the spotlight. On their first day of trading on U.S. exchanges, ether ETFs generated more than $1.019 billion in cumulative trading volume, according to Yahoo Finance data compiled by The Block Pro Research.
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💰 Bitcoin ETFs See $1.2B Inflow as CBOE Sets Ethereum ETF Launch Date
Spot Bitcoin ETFs have racked up around $1.24 billion in inflows over the past week as spot markets recover. Preliminary figures from Farside Investors suggest that Friday, July 19, saw inflows of $384 million, with Fidelity leading the pack at $140 million inflows. This marks eleven consecutive trading days with a positive flow to these institutional investment products. Even Grayscale saw an inflow of $20 million to its GBTC spot ETF on Friday, the first positive flow day for the fund for a week.
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🟠 Binance.US secures court approval to invest $40 million in US Treasury bills
A US court has granted Binance US permission to invest certain customer fiat funds, currently held at BitGo, in US Treasury Bills. Earlier this week, the exchange requested court approval to invest about $40 million in $10 million increments over four weeks. On July 19, Judge Amy Berman Jackson approved the exchange to invest its customer fiat funds, provided it maintains enough funds on its platform to meet all expected customer withdrawal requests and updates its terms of use to notify customers accordingly.
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🇺🇸 Vitalik Buterin warns against supporting politicians solely based on their pro-crypto stance
Ethereum creator Vitalik Buterin cautioned the crypto community against supporting politicians solely based on their pro-crypto statements and expressed particular concern over a lack of support for “internationalism.” Buterin made the statements in a July 17 blog post, where he highlighted the “growing push” for members of the crypto space to become more political amid concerns about crypto regulation in the EU and US.
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