South Korean prosecutors have submitted evidence suggesting Terraform Labs co-founder Do Kwon and former Chai CEO Hyun-seong Shin may have planned to deceive investors from the outset. The Seoul Southern District Prosecutors’ Office presented a written statement to Shin’s trial court alleging a May 2019 text exchange between Kwon and Shin regarding the “Chai” payment...
The South Korea Ministry of Science and Information and Communication Technology (ICT) and the Korea Internet & Security Agency (KISA) will launch a blockchain support project. According to a recent report by Naver, the program will promote six projects in the public sector for public services and eight in the private sector to support commercialization,...
Wisconsin’s relatively small investment in Bitcoin ETFs could snowball into something larger by orders of magnitude, according to an ex-finance professor within the state. Why Did Wisconsin Buy The Bitcoin ETFs? During an interview with PBS, Marquette University professor emeritus David Krause said the $160 million currently invested by the state represents “just a toe...
Bitcoin (BTC/USD) is currently trading at $69,300, up 0.17% in the 2-hour timeframe, signalling a bullish Bitcoin price prediction, especially as it stays above the $69,100 level. According to CoinShares International Ltd., crypto asset inflows reached $185 million in the week ending May 31. Throughout May, investors poured $2 billion into digital-asset investment products, including...
Bitcoin spot exchange-traded funds (ETFs) saw a net inflow of $105 million recorded on June 3, marking 15 consecutive days of net inflows for these ETFs. Among the Bitcoin spot ETFs, Fidelity ETF FBTC witnessed a substantial inflow of $77.0482 million, while Bitwise ETF BITB attracted $14.3145 million in inflows. In contrast, BlackRock’s iShares Bitcoin...
Bitcoin (BTC), the leading cryptocurrency, fell from $70,230 during a bearish correction and completed a 50% Fibonacci retracement at around $68,789. This shift is driven by US economic data, increasing expectations of a Federal Reserve rate cut in September. Anticipation of lower rates has weakened the US dollar, supporting BTC’s bullish stance. Traders are now...
Bitcoin’s price is soon due for some major price action following an extended period of unusually low volatility, onchain analysis suggests. Bitcoin Price Move Incoming In a newsletter published on Monday, lead Glassnode analyst James Check noted that the Sell-Side Risk Ratio for Short-term Holders is “dropping like a stone,” a behavioral indicator suggesting that...
During the US session, the leading cryptocurrency, Bitcoin, continued to flirt with the $71,000 level. However, it failed to sustain above this level, closing as a spinning top candle on the 2-hour timeframe, indicating a potential reversal. This has caused a minor correction, and currently, Bitcoin is trading at the $70,250 level. On the fundamental...
Crypto exchange DMM Bitcoin based in Japan, which suffered a major hack losing 4,502.9 Bitcoin on Friday, is planning to raise funds to buy BTC in order to compensate its customers. Per a Bloomberg report, the exchange mulls raising 50 billion yen (around $321 million). The funds would “take care” of the world’s largest crypto...
Bitcoin spot exchange-traded funds (ETFs) in the United States experienced their second-highest daily net inflows since their listing, drawing in a substantial $886.75 million on June 4. The record for the highest daily net inflows from spot Bitcoin funds occurred on March 12, with inflows reaching $1.05 billion. Among the contributors to Tuesday’s significant net...