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💰 Bitcoin ETFs See Record $2.4B Weekly Inflows; BlackRock's IBIT Leads: CoinShares
Demand for bitcoin (BTC) exchange-traded funds (ETF) accelerated again last week as they raked in a record $2.4 billion of the $2.45 billion that flowed into digital asset investment products, crypto asset management firm CoinShares said Monday. Allocations to the newly approved U.S.-based spot bitcoin ETFs overwhelmed the $623 million outflows from Grayscale's Bitcoin Trust (GBTC), the incumbent fund that converted into an ETF structure.
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💰 Vanguard Shunning Spot Bitcoin ETF Might Be Paying Off
Senior Bloomberg ETF analyst Eric Balchunas confirmed that Vanguard has registered more than six times the entire net inflows recorded by all ten spot Bitcoin ETFs in that few weeks. Notably, this new development showcases Vanguard’s dominance in the Traditional Finance (TradFi) sector amidst hype around spot Bitcoin ETFs and the broad crypto industry.
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💰 FTX creditors sue bankruptcy law firm S&C alleging fraud involvement
FTX creditors are seeking damages against the law firm Sullivan & Cromwell for its prior involvement with the crypto exchange. FTX bankruptcy case has unfolded to a new chapter as the exchange’s creditors have filed a class-action lawsuit against the law firm overseeing the case. In a court filing on Feb. 16, FTX creditors alleged that law firm Sullivan & Cromwell, also known as S&C, “actively” participated in the “FTX Group’s multibillion dollar fraud,”
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🏦 Coinbase donates $3.6 million to support Bitcoin developer funding through Brink
Coinbase is donating $3.6 million to Bitcoin supporting nonprofit Brink as it winds down GiveCrypto, an organization that gave out crypto to those in poverty. In December, the exchange said that it was ending the initiative due to its inability to create a lasting impact. At the time, Coinbase said it was splitting the remaining funds between Brink and a charity platform called GiveDirectly, but didn't specify amounts.
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📣 Crypto money laundering drops nearly 30% in 2023 as cyber criminals change tactics 📉
Crypto money laundering experienced a significant decline of 29.5% in 2023 compared to the previous year, primarily due to a decrease in overall crypto transaction volume. According to a Chainalysis report, illicit addresses moved approximately $22.2 billion in digital assets to various crypto services in 2023, marking a notable drop from the $31.5 billion transferred in 2022. This decline aligns with a 14.9% decrease in legitimate and illegal crypto transaction volumes.
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💰 Futures open interest hits two-year peak with Bitcoin above $50k
Bitcoin enthusiasts and investors alike have been on the edge of their seats as the legendary cryptocurrency smashed through the $50,000 barrier, reaching over $52,000 for the first time since its dip in November 2022. Amidst this exciting rally, the futures market has caught the eye of many, revealing intriguing trends and trader anticipations.
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💰 Craig Wright Fails To Name Anyone He Sent Bitcoin To As “Satoshi”
The computer scientist said his memory fails him in naming one of the hundreds of supposed recipients of “Satoshi’s” Bitcoin. The seventh day of the COPA v. Wright trial kicked off on Tuesday, exposing a glaring weakness in the latter’s argument to convince the court that he is the creator of Bitcoin. When pressed by prosecutors, Craig Wright failed to name a single person outside of the public domain to whom he had sent Bitcoin under the name of Satoshi.
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🇰🇷 Korean watchdog to ban crypto exchanges that fail to meet stringent new regulatory standards
The Korea Financial Intelligence Unit (KoFIU) announced a sweeping plan to enhance supervision of the crypto industry, which includes expelling crypto exchanges that fail to meet stringent operational standards, according to local media reports on Feb. 12. The initiative is part of South Korea’s effort to bolster financial oversight and consumer protection in the fast-evolving digital asset industry.
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🇺🇸 California’s 8.2 million crypto owners poised to influence 2024 elections – Coinbase
A recent study conducted by Toluna for Coinbase reveals that crypto users in California are poised to significantly influence the state’s political direction in the 2024 elections. According to the report, a significant number of the state’s crypto enthusiasts are young, with 40% falling within the 18-34 age bracket — a generation more attuned to technological advancements and digital financial solutions.
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JUST IN: 🇺🇸 The top 5 new spot Bitcoin ETFs now own a combined 195,862 $BTC worth over $9.3 BILLION 🤯
This is already more than the 190,000 $BTC Microstrategy holds.
@ChartsSignalsTrading
🇭🇰 Hong Kong authorities issue public alert about fraudulent crypto exchange masquerading as MEXC Global
Hong Kong’s Securities and Futures Commission (SFC) and local law enforcement have jointly issued a public warning against an entity masquerading as crypto exchange MEXC Global. The scammers are reportedly pretending to be a legitimate virtual asset trading platform (VATP) and luring unsuspecting victims into participating in what appears to be a crypto investment scam.
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🇹🇭 Thai SEC Files Charges Against Former Zipmex Thailand CEO
Thailand’s Securities and Exchange Commission (SEC) has filed charges against former Zipmex Thailand CEO Akarlap Yimwilai, accusing him of corruption and deception. The allegations stem from a discovery made by the SEC regarding the transfer of customer assets from Zipmex Thailand’s Z Wallet to overseas digital addresses before any official announcement was made regarding changes in the platform’s terms and conditions.
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💰 Australian Bitcoin miner Iris sets 20 EH/s hash rate target as US mining falters
Australian Bitcoin mining company Iris Energy has outlined ambitious plans to ramp up its hash rate to 20 exahashes per second (EH/s) by the latter part of this year, as detailed in a Feb. 7 update. To achieve this significant milestone, Iris agreed with Bitmain to secure 10 EH/s of new T21 miners at a fixed rate of $14/TH/s. This agreement encompasses 1 EH/s of immediate additional miner acquisitions and grants options for 9 EH/s of miner purchases exercisable in the latter part of the year.
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📊 VC blockchain and crypto funding rises in Q4 2023: Report
The growing interest of financial institutions in crypto is attributed to the launch of the first spot Bitcoin ETFs in January, according to a report from PitchBook. Venture funding for crypto-related companies totaled $1.9 billion in the fourth quarter of 2023 — a 2.5% increase from the third quarter — according to a report from PitchBook. It marks the first time venture capital (VC) investments in crypto startups have risen since March 2022.
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💰 April 2024 Bitcoin Halving Sparks Worldwide Curiosity, Data Reveals
A recent study focusing on the search term “bitcoin” through Google Trends data revealed that curiosity remained subdued even as the price soared above the $50K mark. Yet, anticipation for the forthcoming reward halving has hit a 90-day peak. Slated for April 2024, this significant occasion will slash the pace at which new bitcoins are generated by 50%, sparking widespread interest in the topic.
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📉Super Micro Computer $SMCI with a 20% dump.
@BitcoinBreaking
🇺🇸 SEC Inspector General investigating crypto conflicts of interest within federal agency
The US Security and Exchange Commission’s (SEC) Office of Inspector General (OIG) is investigating cryptocurrency-related financial conflicts of interest identified by the accountability group Empower Oversight. In a Feb. 15 statement, Empower Oversight disclosed that the SEC’s division was in the “final stages of completing” an open investigation into matters relating to the failures of the SEC’s Ethics Office and a former official, William Hinman.
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🪙 Ether Traders Target $3.5K as ETH Jumps on ETF Expectations
The ether (ETH) price rose through the $2,700 mark early Thursday for the first time since May 2022 as traders bet on the possibility of a spot ETH exchange-traded fund (ETF) approval in the U.S., a move that could boost its institutional appeal. Franklin Templeton, BlackRock, Fidelity, Ark and 21Shares, Grayscale, VanEck, Invesco and Galaxy, and Hashdex, had all submitted applications for an ether ETF. They already offer spot bitcoin (BTC) ETFs, which were introduced mid-January.
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💰 Bitcoin options traders anticipating new all-time high
Crypto investors are targeting record Bitcoin prices with increased call options activity on the market. Data from Bloomberg Intelligence highlights a marked rise in the activity for call options expiring on Mar. 29 at strike prices of $60,000, $65,000, and $75,000. This comes despite Bitcoin having achieved its all-time high of $69,000 more than two years ago, in November 2021.
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🟠 Binance founder Changpeng Zhao sentencing rescheduled for April 30
Binance co-founder Changpeng Zhao’s sentencing, initially set for Feb. 23, has been rescheduled for April 30, as disclosed in a Feb. 12 court filing. Last November, Zhao, the former CEO of the largest crypto exchange by trading volume, pled guilty to anti-money laundering charges as part of an extensive deal with the US government, including his platform, Binance. The crypto trading platform agreed to pay the authorities $4.3 billion in fines.
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🪙 Ethereum transaction uptick sees network gas fees hit multi-month high
Ethereum transaction volume has increased since the beginning of February, with network gas fees hitting a multi-month high. According to The Block's Data Dashboard, the seven-day moving average for the economic throughput on the Ethereum blockchain has reached a high of over $3.55 billion. This is an increase of over 15% from a seven-day moving average of $3.08 billion at the beginning of the month. The uptick in transaction volume over the past weeks has caused a spike in Ethereum network gas fees.
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💰 FTX plans sale of Digital Custody for $500K in bankruptcy move
The FTX debtors estate, led by CEO John Ray III, has filed to sell Digital Custody to CoinList for a significant markdown of $500,000, with financing provided by DC’s original CEO and seller, Terence Culver. FTX initially purchased Digital Custody for $10 million. However, DC was not fully integrated into the FTX ecosystem before former CEO Sam Bankman-Fried filed for bankruptcy in November 2022, three months after acquiring DC.
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💰 Bitcoin Records 5 Green Months Amid Accumulation Wave Hitting a 3-Year High
As Bitcoin (BTC) edges closer to the psychological price of $50,000 thanks to heightened bullish momentum, the leading cryptocurrency has been in the green for a couple of months. Bitcoin looks set to close this month on a high, having been in the green for five months, from September 2023 to January this year.
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📊 JPMorgan: 78% of Institutional Traders Surveyed Have No Plans to Trade Crypto
Global investment bank JPMorgan has published the results of its annual e-trading survey for this year. The survey was conducted between Jan. 8 and Jan. 22, with the participation of 4,010 institutional traders from over 65 countries. One of the questions asked in the survey was “Which option best describes your institutional work with crypto/digital coins?” 78% of traders said they “have no plans to trade crypto/digital coins” while 9% said they are currently trading them.
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💰 New spot bitcoin ETFs amass 200,000 BTC in less than one month of trading
After less than one month of trading, the nine newborn spot bitcoin exchange-traded funds now hold more than 200,000 in assets under management — excluding Grayscale’s converted GBTC fund. According to K33 Research, the nine new ETFs had amassed 203,811 ($9.5 billion) as of yesterday’s close. Launching on Jan. 11, these ETFs are BlackRock (IBIT), Fidelity (FBTC), Bitwise (BITB), Ark 21Shares (ARKB), Invesco (BTCO), VanEck (HODL), Valkyrie (BRRR), Franklin Templeton (EZBC) and WisdomTree (BTCW).
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💰 78% of crypto industry expect new Bitcoin all-time high within 12 months
Finder’s latest survey of 40 crypto founders, executives, and educators reveals a bullish outlook for Bitcoin, projecting its value to increase significantly through 2030. The consensus among the panel suggests a positive trajectory for Bitcoin, predicting its value to rise to $77,423 by the end of 2024, $122,688 by 2025, and $366,935 by 2030. These projections mark a notable uptick in optimism compared to past surveys, indicating the growing bullish sentiment within the sector.
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📊 The average crypto investor realized less than $1,000 of gains in 2023: CoinLedger
The average crypto investor made $887.60 in realized gains for 2023, according to a study by cryptocurrency tax software platform CoinLedger. Last year’s average gains mark a significant turnaround following the turmoil of 2022, when the average investor realized over $7,000 in losses amid the collapse of several crypto firms and a severe bear market. “It’s clear that the cryptocurrency market is growing once again.” CoinLedger CEO David Kemmerer said in a statement. “.
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