Speculations regarding Bybit’s potential hack or insolvency sparked concerns within the crypto community, prompting CEO Ben Zhou personally to step in to refute these claims on May 23. Amid a flurry of social media rumors questioning Bybit’s solvency and security, Zhou, one of the prominent cryptocurrency exchanges, provided reassurance about the exchange’s financial stability and...
Two crypto-supportive senators urged the Justice Department (DOJ) on Monday to reconsider its recent enforcement action against a popular Bitcoin privacy service. Senator Cynthia Lummis (R-WY) publicly shared a letter arguing that the DOJ’s “unprecedented interpretation” of what constitutes an unlicensed “money services business” (MSB) contradicts both Treasury Department guidance and the intent of Congress....
President Joe Biden has issued an order blocking MineOne, a majority Chinese-backed crypto mining firm from owning land near a strategic nuclear missile base in Wyoming due to security concerns. In an announcement, the White House said there is credible evidence that MineOne Partners Limited, a British Virgin Islands company is majority-owned by Chinese nationals....
The number of new Runes etched on Bitcoin daily has experienced a drastic decline, falling below 250 for the past six days. The drop is particularly notable, with only 157 Runes etched on Monday, marking a staggering 99% decrease from the peak witnessed in late April, according to a Dune Analytics dashboard created by RUNES.IS. The...
VanEck’s spot Bitcoin exchange-traded fund (ETF) experienced significant growth in the first quarter of 2024. According to VanEck Bitcoin Trust’s recent filing with the Securities and Exchange Commission (SEC), the HODL Bitcoin ETF saw an increase of $109 million in net asset for the first fiscal quarter of 2024, which concluded on March 31. Bitcoin...
Technical analyst Rekt Capital suggests that Bitcoin has emerged from the post-halving “danger zone” and entered an accumulation phase, as indicated by weakening selling pressure. After previous halving events, Bitcoin typically experienced increased volatility, which came to be known as the “danger zone.” In the current cycle, Bitcoin’s price dropped by a mild 6.5% over...
Bitcoin price prediction is a hot topic as two mysterious whales, inactive for over a decade, have suddenly moved 1,000 BTC, worth about $60.9 million, within the past 20 minutes. This unexpected activity has intrigued market analysts and traders, prompting speculation about potential market impacts and future price movements. Two Mysterious Whales Start Transferring Funds...
The hash rate of the Bitcoin network has experienced a significant decline as mining firms are shutting down unprofitable mining rigs following the fourth Bitcoin halving. Data from blockchain.com reveals that the hash rate dropped to its lowest level in over two months, reaching 575 exahash per second (EH/s) on May 10. It has since...
One of the largest pension funds in the United States disclosed on Tuesday a $162 million allocation to the nation’s leading Bitcoin spot ETF products launched earlier this year. Per a 13F filing with the Securities and Exchange Commission (SEC), the State of Wisconsin Investment Board (SWIB) held $99 million in the iShares Bitcoin Trust...
Bitcoin is currently trading at $61,500, with a 24-hour trading volume of $28.28 billion. The cryptocurrency has dropped about 2.25% in the past day. Ranked first on Cryptonews, Bitcoin boasts a market cap of $1.21 trillion, with a circulating supply of 19,698,325 BTC and a maximum supply of 21,000,000 BTC. The U.S. Spot Bitcoin ETF...