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Stay informed with timely and objective news content relevant to the crypto industry, published daily by Bitcoin.com News.
Russia and Iran are collaborating on creating a single BRICS currency, the Iranian ambassador to Russia has claimed. He noted that over 60% of the two nations’ bilateral trade is conducted in Russian rubles and rials, reflecting a shift away from the U.S. dollar. Russia-Iran Trade Flourishes With National Currencies Iran and Russia are reportedly […]
https://news.bitcoin.com/russia-and-iran-collaborating-on-single-brics-currency-iranian-ambassador-says/
Blackrock’s spot bitcoin exchange-traded fund (ETF), the Ishares Bitcoin Trust (IBIT), has amassed 414 insitutional holders in less than three months, according to filings with the U.S. Securities and Exchange Commission (SEC). A senior Bloomberg analyst described this achievement as “mind-boggling” and “highly rare” for new ETFs. Other recently launched ETFs have significantly fewer institutional […]
https://news.bitcoin.com/blackrock-bitcoin-etf-attracts-414-institutional-holders-analyst-says-ibit-blows-away-record/
Over the past 35 days, the total value locked in decentralized finance (defi) protocols has expanded by $11.89 billion, recovering from a low of just over $83 billion on April 13. Although it has not yet reached the $100 billion mark, the value locked in defi is approaching that milestone after hovering just below it. […]
https://news.bitcoin.com/value-locked-in-defi-nears-100b-range-again-after-11-89b-increase-in-35-days/
This week, the price of one ounce of silver has seen a significant rise. Over the past five days, silver has increased by more than 11% against the U.S. dollar, surpassing gold’s 2.3% five-day gain. Silver reached $31 per troy ounce for the first time since February 2013. Silver Hits $31 per Ounce, Outperforms Gold […]
https://news.bitcoin.com/silver-squeeze-precious-metal-soars-11-8-in-5-days-reaching-its-highest-price-since-2013/
Crypto lender Genesis Global obtained court approval Friday to return approximately $3 billion to its customers as part of its bankruptcy liquidation. U.S. Bankruptcy Judge Sean Lane approved Genesis’ Chapter 11 plan, overruling an objection from its equity owner, Digital Currency Group (DCG), which argued that repayments should be based on January 2023 cryptocurrency values. […]
https://news.bitcoin.com/court-approves-crypto-lender-genesis-3-billion-payout-to-customers/
The Securities and Exchange Board of India (SEBI) has submitted its recommendations for regulating crypto assets to a government panel. SEBI suggests multiple regulators for different aspects of cryptocurrency trade. India’s central bank, the Reserve Bank of India (RBI), however, views crypto as a macroeconomic risk, highlighting concerns about tax evasion and fiscal stability. SEBI […]
https://news.bitcoin.com/indian-regulator-advocates-multi-agency-approach-for-crypto/
The Binance executive, Tigran Gambaryan, who is currently in jail, has been deemed eligible by a Nigerian court to represent the cryptocurrency exchange in its ongoing tax evasion trial. A spokesperson for Binance stated that the charges against Gambaryan are entirely without merit, and he should be released. Tigran Gambaryan Qualifies to Represent Binance A […]
https://api.news.ops.bitcoin.com/nigerian-court-rules-tigran-gambaryan-can-face-tax-evasion-charges-on-behalf-of-binance/
Better Markets, a financial nonprofit organization, has lashed out against approving a spot ether ETF product, stating that it would endanger the broader financial system. In a supplemental comment letter sent to the SEC, the organization states that approving these spot ether ETPs would “interweave the crypto industry with traditional finance,” aggravating systemic risks introduced […]
https://news.bitcoin.com/financial-nonprofit-better-markets-approving-a-spot-ether-etf-would-threaten-the-broader-financial-system/
Binance’s Financial Crimes Compliance Department recently collaborated with Taiwan’s Ministry of Justice Investigation Bureau and the Taipei District Prosecutors Office on a significant cryptocurrency-assisted money laundering case involving nearly NT$200 million (approximately US$6 million). The criminal operation had been laundering money through virtual assets by creating fake customer records and forged identity data. Law enforcement […]
https://news.bitcoin.com/binance-aids-taiwan-in-busting-6m-crypto-money-laundering-ring/
Michael Burry, an investor famous for making a fortune by anticipating the 2007 subprime mortgage crisis, made a sizable bet on physical gold. According to regulatory filings, Burry’s Scion Asset Management purchased over 440,000 Sprott Physical Gold Trust units, a closed-end fund that invests and holds its assets in physical gold bullion. Big Short’s Investor […]
https://news.bitcoin.com/big-short-investor-michael-burry-goes-hard-on-gold-invests-10-million-in-q1/
The Nigerian fintech firm Flutterwave claimed on May 16 that it had foiled an attempt to breach its payments platform. Flutterwave asserted that the “unauthorized activities inconsistent with usual customer behavior” did not compromise users’ funds or data confidentiality. According to one report, over $7 million was siphoned from Flutterwave following a cyberattack in April. […]
https://news.bitcoin.com/nigerian-fintech-firm-flutterwave-confirms-hacking-attempt-says-users-funds-safe/
Following the policymaker’s survey, U.S. Representative Thomas Massie (R-Ky.) announced the introduction of H.R. 8421, known as the “Federal Reserve Board Abolition Act.” This legislation aims to dismantle the Board of Governors of the Federal Reserve and close its branches across the continental United States. Federal Reserve Board Abolition Act Resurfaces Two days ago, Massie, […]
https://news.bitcoin.com/us-lawmaker-introduces-bill-to-dismantle-feds-board-of-governors-and-abolish-the-central-bank/
A report released on May 16 highlights how increased electricity consumption due to crypto mining and inconsistent rainfall have led to power shortages in Laos, challenging its goals as a hydropower exporter in Southeast Asia. Reuters: Increased Crypto Mining Strains Laos’ Hydropower Grid Laos, often called the “battery of Southeast Asia” for its extensive hydropower […]
https://news.bitcoin.com/crypto-mining-surge-and-erratic-weather-strain-laos-power-grid/
PRESS RELEASE. Geneva, Switzerland, May 17, 2024 – Recent detailed analyses by Token Terminal and Messari have provided an in-depth review of the TRON network’s activity during the first quarter of 2024, emphasizing its competitive positioning and expansive growth within the blockchain sector. Token Terminal Analysis Token Terminal’s comprehensive report offers crucial insights into key […]
https://news.bitcoin.com/token-terminal-and-messari-release-research-reports-on-tron-network-for-q1-of-2024/
Since the Hong Kong spot bitcoin exchange-traded funds (ETFs) began trading, their performance has been underwhelming, with three ETFs accumulating around $228 million in net assets. Inconsistent Inflows and Outflows Mark Hong Kong Bitcoin ETFs’ First Weeks On Thursday, the spot bitcoin ETFs in Hong Kong experienced net negative outflows of approximately 104.79 BTC, valued […]
https://news.bitcoin.com/lackluster-performance-for-hong-kong-bitcoin-etfs-since-launch/
Economist Jim Rickards forecasts that gold prices could surpass $27,000, emphasizing that this projection is not made for attention or shock value. “It’s the result of rigorous analysis,” he clarified. This represents a significant increase from his previous estimate of $15,000 by 2026. Jim Rickards’ $27K Gold Prediction Explained Economist Jim Rickards shared his prediction […]
https://news.bitcoin.com/economist-jim-rickards-predicts-gold-price-exceeding-27000-says-its-not-a-guess-its-rigorous-analysis/
According to records, China has divested $53.3 billion in U.S. Treasury notes and agency bonds during the first quarter. Some analysts suggest this reduction in foreign exchange reserves might be China’s strategic move to leverage its holdings against the United States. China’s Treasury Holdings Drop Dramatically, Raising Red Flags for U.S. Markets China has significantly […]
https://news.bitcoin.com/chinas-53-3b-divestment-in-us-treasuries-signals-massive-shift-from-dollar-assets/
Approximately 14 years ago today, Laszlo Hanyecz posted on bitcointalk.org, offering 10,000 bitcoins for “a couple of pizzas.” However, most people are not aware that it took him four days to finalize the transaction, which is now worth $670 million. The Famous Bitcoin for Pizza Offer That Took 4 Days to Complete In May 2010, […]
https://news.bitcoin.com/14-years-ago-an-individual-offered-10000-bitcoins-for-2-pizzas-finalizing-the-deal-in-4-days/
It has been 29 days since the halving and the launch of the Runes protocol, and since May 1, Runes activity has been underwhelming, falling short of the expectations set months prior. Similarly, the trend of Ordinals inscriptions has significantly declined over the past month. Runes Protocol’s Initial Excitement Dwindles Amid Decreased Activity Before the […]
https://news.bitcoin.com/bitcoins-runes-protocol-hype-falls-short-significant-drop-in-activity-and-fees/
Between May 10 and May 17, non-fungible token (NFT) sales totaled $150.56 million, marking an 8.97% decline from the previous week’s figures. NFT sales have consistently decreased on a weekly basis, as four out of the top five blockchains by sales volume experienced reductions during this period. NFT Market Sees Consistent Decline In February, from […]
https://news.bitcoin.com/mid-may-nft-sales-drop-by-8-97-top-4-chains-see-reductions/
As the anticipation builds for Euro 2024 and Copa America, Duelbits has recently announced a promotion that promises excitement and rewards for avid soccer fans. Wager $20 or more each week with an eligible bet to add a stamp to your booklet. Each stamp will reward you with a $5 Free Bet which will be […]
https://api.news.ops.bitcoin.com/welcome-to-duelbits-festival-of-football/
Mastercard’s Start Path Blockchain and Digital Asset program has expanded to include five new startups, aiming to explore innovative uses of blockchain technology. “Digital assets are becoming increasingly mainstream, speeding up commerce with trust and transparency,” Mastercard stated. Mastercard’s Digital Asset Program Expands Payments giant Mastercard announced Wednesday that five startups from around the world […]
https://news.bitcoin.com/mastercard-welcomes-5-startups-to-blockchain-and-digital-asset-program/
In the first quarter of 2024, Canaan Inc. generated $35.1 in revenues versus the $72.4 million in costs incurred in the same period which resulted in the company recording a gross loss of $37.3 million. Nangeng Zhang claimed that Canaan’s revenues in the last quarter exceeded expectations due to the company’s persistent sales efforts and […]
https://news.bitcoin.com/mining-rig-producer-canaans-q1-unrealized-gains-narrow-net-loss-to-39-4-million/
Dolce & Gabbana USA Inc. faces a lawsuit from a customer who claims the non-fungible tokens (NFTs) he bought for $6,000, which included metaverse outfits, lost 97% of their value due to delivery failures by the luxury fashion house. The complaint, filed in Manhattan federal court, alleges the NFTs were promoted with various digital, physical, […]
https://news.bitcoin.com/dolce-gabbana-sued-over-6000-nfts-losing-97-value/
The Ontario Securities Commission (OSC) announced on May 15 that two Ontario residents have been charged with offenses under the Criminal Code of Canada as part of Project Swan, a joint investigation by the Durham Regional Police Service (DRPS) and the OSC. Aiden Pleterski, self-proclaimed “Crypto King,” is charged with fraud over $5,000 and laundering […]
https://news.bitcoin.com/ontario-crypto-king-faces-major-fraud-and-money-laundering-charges/
The French securities regulator, the Autorité des Marchés Financiers (AMF), has issued a renewed warning against using the digital asset platform Bybit. The AMF reminded French investors that Bybit is an unregistered crypto platform operating illegally in the country. The regulator has advised French investors who use Bybit to take all the necessary precautions to […]
https://news.bitcoin.com/french-regulator-renews-warning-against-blacklisted-bybit/
PRESS RELEASE. Penguiana (PENGU), a novel penguin-themed meme coin, is making significant waves within the cryptocurrency and Solana meme community. With its presale already raising over 1500 SOL, Penguiana is positioning itself as the next popular meme coin on the Solana blockchain. Penguiana (PENGU) Presale is Up and Running The Penguiana presale showcases the strength […]
https://news.bitcoin.com/penguiana-reports-new-milestones-as-pengu-presale-hits-soft-cap-teases-play-to-earn-game-trailer-next-month/
Over the past 18 days, 27 distinct liquid staking derivatives (LSD) protocols have experienced withdrawals amounting to approximately 50,000 ether, valued at $146.72 million. The most significant reductions occurred in the LSDs Swell and Mantle, with Swell’s ether holdings decreasing by 23,078 ether since April 28, 2024. LSD Protocol Reductions Continue Despite Minor Gains for […]
https://news.bitcoin.com/liquid-staking-market-in-flux-withdrawals-hit-swell-and-mantle-reshuffling-landscape/
The price of bitcoin surpassed the $67,000 mark on Friday, reaching a peak of $67,482 per unit, the highest value since late April. This increase has resulted in the liquidation of nearly $45 million in leveraged bitcoin short positions over the past day. $120M in Crypto Positions Liquidated as Bitcoin Climbs Above $67K Bitcoin short […]
https://news.bitcoin.com/bitcoin-hits-67k-leading-to-45m-in-short-position-liquidations/
The Hong Kong Monetary Authority (HKMA) and the People’s Bank of China (PBOC) have advanced the digital yuan (e-CNY) pilot for payments, aiming to increase e-CNY wallet usage in Hong Kong. Residents can now set up and top up wallets via the Faster Payment System (FPS), marking the first global linkage of a faster payment […]
https://news.bitcoin.com/china-expands-digital-yuan-pilot-hong-kong-residents-can-now-set-up-e-cny-wallets-locally/