Mt. Gox, one of the earliest Bitcoin exchanges with approximately $9 billion worth of Bitcoins in its possession, has initiated the procedure for returning funds to its creditors. On April 22, some affected parties reportedly began receiving notifications regarding their claims. Mt. Gox Creditors Receive Updates Over their Bitcoin Holdings Creditors of Mt. Gox have … Read more
Miners have responded to the completion of Bitcoin‘s fourth halving by adjusting their total hashrate accordingly. Bitcoin 7-Day Average Hashrate Hit New All-Time High Recently Every so often, Bitcoin undergoes a process called halving, where the rewards given to miners for successfully adding new blocks to the network are reduced by half. Approximately every four … Read more
On April 22, Willy Woo, an on-chain expert, pointed out that the longstanding competition between gold and Bitcoin is shifting. For over 6,000 years, gold has been considered a valuable asset due to its scarcity. However, advancements in mining technology have significantly increased production rates in recent decades, weakening its scarcity argument. Gold Versus Bitcoin: … Read more
Mt. Gox, the Bitcoin trading platform, is said to have initiated the process of refunding its long-term users, offering a potential ray of optimism for those impacted by the notorious hack that occurred more than 10 years ago. Three months ago, the Mt. Gox trustee completed the verification procedure for clients eligible for repayment. Since … Read more
In the Middle East, there’s a surging interest in crypto markets and investments. Based on Bitget’s study, approximately 500,000 individuals trade cryptocurrencies daily in this region, signifying a burgeoning trend. UAE Adopts Crypto-Friendly Rules Based on recent studies, the United Arab Emirates stands out as having the most accommodating regulatory environment for cryptocurrencies. In contrast, … Read more
Last week, there was a total withdrawal of $206 million from global crypto investment products, according to Coinshares’ report, indicating investors’ apprehensions about the potential effects of Federal Reserve’s policy changes on interest rates. Global Impact Of Crypto Outflows On Bitcoin ETFs And Market Volume According to a recent report from CoinShares, there was a … Read more
ETH surpasses $3,000 mark, shifting the crypto community’s outlook towards it back to optimistic. This bounce back has propelled it above its 100-day Exponential Moving Average (EMA), suggesting that positive market sentiment may be returning. Despite the increase in prices, there’s been a notable decline in trading activity. This decrease in demand from traders could … Read more
Matt Hougan, CEO of Bitwise, expressed his perspectives on the IMF’s report concerning cross-border transactions using Bitcoin. According to him, the paper underscores significant developments within the Bitcoin sector and investors’ attitudes towards cryptocurrency. Hougan then outlined the key insights he gleaned from the study on his platform, X. Bitcoin a Safe Heaven In Restricted … Read more
The SEC, which is the securities regulatory body in the United States, intends to levy significant fines against Terraform Labs and its founder Do Kwon, following a decision in a civil lawsuit. In a court filing dated April 19, 2023, in the Southern District of New York, the SEC requests that approximately $4.7 billion be … Read more
In the past three months, there has been a significant increase in investments in Bitcoin ETFs, with BlackRock’s iShares Bitcoin Trust ETF (IBIT) being the frontrunner. After receiving the green light from the US Securities and Exchange Commission (SEC) on January 10, Bitcoin ETF trading has been active. Alternatively, BlackRock distinguishes itself with an uninterrupted … Read more