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Stay informed with timely and objective news content relevant to the crypto industry, published daily by Bitcoin.com News.
Saudi Arabia has emerged as the fastest-growing crypto economy in the Middle East and North Africa (MENA) region for the second consecutive year. Unlike other MENA countries, Saudi Arabia’s and Qatar’s crypto activity primarily stems from decentralized finance platforms. The majority of MENA’s crypto activity is driven by institutional and professional investors. Saudi Arabia’s Youth […]
https://news.bitcoin.com/saudi-arabia-leads-mena-in-crypto-growth-for-second-year-running/
Curve Finance is evaluating a proposal to reduce its reliance on the stablecoin TUSD following the resolution of U.S. Securities and Exchange Commission (SEC) charges against Trusttoken Inc. and Truecoin LLC, the companies behind the dollar-pegged token. TUSD Faces Removal From Curve Finance Pegkeeper The proposal, authored by Wormhole Oracle, suggests slashing the debt ceiling […]
https://news.bitcoin.com/curve-finance-proposal-eyes-reducing-tusd-exposure-after-sec-settlement/
According to QCP Capital’s latest analysis, macroeconomic conditions are becoming increasingly favorable for risk assets, including cryptocurrencies. Central bank policies, particularly from China and the U.S. are playing a crucial role in shaping market sentiment. QCP Capital: Central Bank Moves Boost Outlook for Crypto QCP Capital‘s analysis on Wednesday highlights a series of macroeconomic developments […]
https://news.bitcoin.com/qcp-capital-analyzes-bullish-macro-trends-impacting-bitcoin-and-risk-assets/
Bitcoin has recaptured its Short-Term Holder (STH) cost basis of $61,900 following the Federal Reserve’s recent 0.5% interest rate cut, according to Glassnode’s recent analysis. Despite the market’s ongoing consolidation, the report suggests new investors have demonstrated notable confidence in the long-term market outlook. Report Shows Despite Consolidation, New Bitcoin Investors Display Strong Market Confidence […]
https://news.bitcoin.com/bitcoin-bounces-back-above-key-averages-glassnode-sees-new-investor-resilience/
Citrea has launched its public testnet, creating a solution to allow Ethereum Virtual Machine (EVM) developers to access Bitcoin’s blockspace. The team believes this is testnet marks a significant step toward using Bitcoin as a settlement layer for decentralized applications (apps). Citrea Launches Testnet to Bring Decentralized Finance to Bitcoin Citrea‘s testnet is live on […]
https://news.bitcoin.com/citrea-launches-testnet-to-enable-bitcoin-based-decentralized-applications/
BA Labs, an adviser to Sky, formerly known as Makerdao, has decided to stop recommending any additional parameter changes regarding the offboarding of wrapped bitcoin (WBTC) collateral. The move follows statements from Bitgo’s CEO Mike Belshe and a vote from Sky community members. Sky Adviser BA Labs Recommends Pausing WBTC Offboarding Changes BA Labs’ decision […]
https://news.bitcoin.com/sky-adviser-recommends-halting-wrapped-bitcoin-offboarding/
Ugandan fintech firm Agent Banking Company (ABC) receives undisclosed investment from Dutch impact investor Goodwell Investments. The funding, part of Goodwell’s $167M African startup fund, will expand ABC’s customer base, agent coverage, and services. CEO Richard Jabel says the investment will enhance financial inclusion and services accessibility via mobile phones, agents, and merchants. Affordable Financial […]
https://news.bitcoin.com/ugandan-fintech-firm-gets-funding-from-dutch-impact-investor/
The Central Bank of Nigeria (CBN) raised the Monetary Policy Rate (MPR) by 50 basis points to 27.25% and increased the Cash Reserve Ratio (CRR) for banks. These measures aim to combat inflation and stabilize the Nigerian economy. The CBN governor, Olayemi Cardoso, stated that the reforms implemented have restored the bank’s credibility and boosted […]
https://news.bitcoin.com/nigerias-central-bank-raises-benchmark-rate-by-50-basis-points/
The U.S. Securities and Exchange Commission (SEC) announced settled charges against crypto companies Trusttoken Inc. and Truecoin LLC. The charges allege fraudulent misrepresentations and unregistered sales of investment contracts related to the stablecoin trueusd (TUSD). U.S. Securities Regulator Charges Crypto Companies Trusttoken and Truecoin According to the SEC’s complaint released on Tuesday, Truecoin and Trusttoken […]
https://news.bitcoin.com/trusttoken-truecoin-settle-sec-charges-over-misleading-tusd-claims/
Congressman Tom Emmer sharply criticized U.S. Securities and Exchange Commission (SEC) Chairman Gary Gensler during a congressional hearing, questioning his leadership and approach to cryptocurrency regulation. “The SEC broke the law, your attorneys lied to the court, and no one in your leadership here in D.C. has been held accountable,” the lawmaker stressed. Tom Emmer […]
https://news.bitcoin.com/congressman-blasts-sec-chair-over-crypto-regulation-failures/
JPMorgan CEO Jamie Dimon has issued a serious warning about escalating geopolitical risks, stating that they pose greater threats to global stability than current economic challenges. His remarks come in light of rising tensions, including attacks on oil tankers and the ongoing Ukraine-Russia war. Dimon cautioned against over-optimism about the U.S. economy, advising a more […]
https://news.bitcoin.com/jpmorgan-ceo-jamie-dimon-cautions-against-market-optimism-geopolitics-is-getting-worse/
Congressional leaders are pressing regulators over concerns that the U.S. Securities and Exchange Commission (SEC)’s new guidelines on digital asset custody could disrupt financial innovation and regulatory collaboration. Lawmakers question whether the SEC acted prematurely, potentially jeopardizing efforts to safeguard digital assets through coordinated agency work. They demand more transparency on the SEC’s actions and […]
https://news.bitcoin.com/lawmakers-question-sec-over-disruptive-crypto-custody-rules/
The government of Argentina has refused to endorse the United Nations Pact for the Future, a framework that proposes solutions for “the biggest challenges of our time.” Foreign Minister Diana Mondino stated on Monday before the UN Assembly that these agendas weren’t binding and that Argentina wanted to have “wings to grow in freedom.” Argentina […]
https://news.bitcoin.com/argentina-rejects-un-pact-for-the-future-as-milei-breaks-with-international-agenda/
Jim Rickards, a renowned economist and author of several best-selling books, has explained that the recent Federal Reserve 0.5% interest rate cut shows that the institution has fallen behind the curve and is “in a little bit” of a panic mode, with a recession coming according to several technical indicators. Jim Rickards Warns About Coming […]
https://news.bitcoin.com/economist-jim-rickards-feds-narrative-is-wrong-recession-coming/
US bitcoin miners are making strides as Chinese mining pools currently dominate the hashrate by 55%, according to Cryptoquant CEO Ki Young Ju. This growing shift underscores the competitive landscape in the bitcoin mining sector.
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A Bloomberg analysis found that cryptocurrency and stock markets have shown a high correlation after the latest set of Federal Reserve interest rate cuts. According to analysts, this related movement would be the result of the macroeconomic variables taking control of the markets and should continue in the near term. Not Uncorrelated: Stocks and Cryptocurrency […]
https://news.bitcoin.com/cryptocurrency-and-stocks-show-high-correlation-levels-as-macroeconomics-start-driving-markets/
In a recent interview, Mike McGlone, Senior Commodity Strategist at Bloomberg Intelligence, emphasized the significant role of hedge funds in gold’s ongoing price surge. McGlone shared his insights on the impact of macroeconomic factors, including China’s economic slowdown and the Federal Reserve’s monetary policies, on the commodities market. Gold Eyes $3,000 Mark Amid Hedge Fund […]
https://news.bitcoin.com/mike-mcglone-hedge-funds-push-gold-toward-3k-amid-global-market-uncertainty/
Bitcoin has rebounded, exceeding the short-term holder cost basis of $61,900, signaling newfound investor resilience, according to Glassnode's latest on-chain report. This upward trend highlights a positive shift in market sentiment among cryptocurrency investors.
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This past week, the digital asset market experienced a broad upward trend, with the artificial intelligence (AI) crypto sector standing out as the top performer over the last seven days. This week, the AI-driven crypto sector climbed 30.59% against the U.S. dollar, with bittensor (TAU) leading the charge. TAU Surges, AI Crypto Market Hits $23.49B […]
https://news.bitcoin.com/ai-focused-cryptos-outshine-the-pack-this-week-bittensor-tops-gains/
Everyone is waiting to see what Floki, First Neiro on Ethereum, and Popcat will do next. These three meme coins have received enormous attention lately, and investors are curious if their prices are about to rally again. In this article, we’ll provide some price predictions for these coins – and see if they’re worth the […]
https://news.bitcoin.com/top-3-meme-crypto-price-predictions-for-october-floki-first-neiro-on-ethereum-popcat/
According to the latest numbers, U.S. spot bitcoin exchange-traded funds (ETFs) raked in $135.95 million in inflows on Tuesday. Meanwhile, spot ether ETFs were not left behind, attracting $62.51 million in new capital. U.S. Bitcoin ETFs Reap $135M Inflows, Ether Funds Close Behind with $62M It was a solid day for U.S. spot bitcoin and […]
https://news.bitcoin.com/blackrocks-bitcoin-and-ether-etfs-lead-inflows-amidst-strong-trading-day/
The Federal Bureau of Investigation (FBI) Baltimore office has issued a warning about the increasing prevalence of cryptocurrency investment fraud in Maryland. Known as “pig butchering,” scammers trick victims into fake crypto investments, leading to massive financial losses. FBI Warns of Surge in Cryptocurrency Investment Scams in Maryland The Federal Bureau of Investigation (FBI) Baltimore […]
https://news.bitcoin.com/fbi-warns-of-growing-pig-butchering-crypto-schemes-in-maryland/
North Korea may be ramping up efforts to align itself with the BRICS economic bloc, as its top diplomat skipped the United Nations General Assembly in favor of a BRICS-related event. Analysts suggest that while Kim Jong-un seeks to break diplomatic isolation through such alliances, North Korea’s sanctions and economic constraints make membership unlikely. Recent […]
https://news.bitcoin.com/north-korea-signals-closer-brics-relations-amid-growing-russia-ties/
Mitroplus Labs Africa, a Ugandan blockchain education institution, launches “Afro” meme token on Tron’s Sunpump network. Afro, represented by an African girl, is intended to promote African identity in blockchain education. Founder Ivaibi Festo says Afro’s success will demonstrate Mitroplus Labs’ ability to develop utility tokens. The token will be integrated with educational seminars and […]
https://news.bitcoin.com/ugandas-mitroplus-labs-unveils-afro-a-pan-african-meme-token/
Crypto exchanges Binance and Tokocrypto collaborated with Indonesian law enforcement to crack down on a crypto scam, seizing $200,000 in stolen assets. “During the investigation, multiple individuals involved in managing the accounts that received the stolen funds were arrested,” Binance stated. Binance and Tokocrypto Help Bust Major Crypto Fraud in Indonesia Crypto exchange Binance announced […]
https://news.bitcoin.com/binance-helps-indonesian-authorities-recover-funds-in-crypto-fraud-bust/
Blackrock’s digital asset chief sees bitcoin as a “risk-off” asset even though it has shown a pattern aligned with U.S. stocks. He drew parallels between bitcoin and gold, pointing to its decentralized structure and limited supply as crucial factors setting it apart. Blackrock’s increasing engagement with bitcoin is also reflected in the strong performance of […]
https://news.bitcoin.com/blackrocks-head-of-crypto-sees-bitcoin-as-risk-off-asset-despite-stock-correlation/
A survey conducted by Rico, an investment platform in Brazil, revealed young investors’ preference for cryptocurrency as an investment tool. According to the results, 34.6% of all investors aged 24 to 35 held crypto in their portfolios, making it the fourth most popular investment behind savings, fixed-income products, and stocks. Young Investors in Brazil Have […]
https://news.bitcoin.com/survey-shows-34-6-of-young-investors-in-brazil-hold-cryptocurrency-in-their-portfolios/
On Tuesday, Sept. 24, 2024, Caroline Ellison, the former CEO of Alameda Research, was sentenced to 24 months in prison after admitting to her involvement in several crimes. The courtroom banned cameras, video, and phone recordings during the sentencing. Even though the judge commended her in court, saying, “I’ve seen a lot of cooperators in […]
https://news.bitcoin.com/ex-alameda-ceo-caroline-ellison-receives-24-month-sentence/
Animoca Brands, a company specializing in digital property rights and gaming, alongside The Sandbox, a decentralized virtual world, and Smobler, a metaverse architecture firm, have launched the virtual Universal Peace Sanctuary. The project, hosted in The Sandbox metaverse, aims to foster global peace and cultural understanding. Virtual Peace Sanctuary Debuts in The Sandbox Metaverse, Backed […]
https://news.bitcoin.com/animoca-brands-the-sandbox-and-smobler-launch-virtual-peace-sanctuary-in-metaverse/
Zimbabwe’s central bank governor, John Mushayavanhu, has stated that the bank might use its foreign currency reserves to protect the Zimbabwe Gold (zig) from severe market disruptions. He also pledged to maintain a tight monetary policy to ensure stable inflation and exchange rates. The zig, a gold-backed currency, has experienced a decline in value against […]
https://news.bitcoin.com/zimbabwes-central-bank-to-shield-gold-backed-currency-from-market-volatility/