News – Page 30

Bitcoin Accumulation Addresses See Record Inflows as Correction Risk Looms: CryptoQuant

daily inflows into Bitcoin accumulation addresses have risen to 38,000 BTC. The total holdings of such wallets have reached record-high levels of 1.5 million BTC. Analysts said the crypto market may be at the beginning of the part of the cycle where new investors buy from older ones at higher prices. This development can be seen in a decline in the Bitcoin supply that has been seen in recent weeks. The rise in the holdings of Bitcoin accumulation. addresses correlates with high demand from spot Bitcoin exchange-traded funds (ETFs)

Source: Mandy Williams, 2024-03-10; https://cryptopotato.com/bitcoin-accumulation-addresses-see-record-inflows-as-correction-risk-looms-cryptoquant/

US Sanctions Zimbabwe President for Corruption and Torture Against His People

The U.S. blacklisted 10 members of his government and their spouses under the the Global Magnitsky Program for corrupt practices. The new measures replace an older set of sanctions against the Southern African state, which the Biden administration felt were too harmful to the Zimbabwe economy. “The United States remains deeply concerned about democratic backsliding, human rights abuses, and government corruption in Zimbabwe,” said Wally Adeyemo, Deputy Secretary of the Treasury, in a statement. ‘These changes to our approach provide an opportunity for the Government of Zimbabwe to undertake key reforms to improve its record,’ he added.

Source: Written by Henry Pope, 2024-03-07; https://www.occrp.org/en/daily//en/daily/18530-us-sanctions-zimbabwe-president-for-corruption-and-torture-against-his-people

Former Colombian Detective Accused of Infiltrating Supreme Court of Justice

Alba Luz Flórez Gélvez, also known as Mata Hari, is believed to have taken nearly US$50,000 from the Administrative Department of Security. She justified the withdrawals with fake invoices and other documents. The former detective was particularly interested in information about “parapolitics” cases, a term in Colombia referring to cases involving extreme right-wing illegal armed groups, or paramilitaries, and their links to public officials in the country. She allegedly gave some of the money to general service personnel, bodyguards, and drivers at the Supreme Court.

Source: Written by Lieth Carrillo, 2024-01-26; https://www.occrp.org/en/daily//en/daily/18404-former-colombian-detective-accused-of-infiltrating-supreme-court-of-justice

US Spot Bitcoin ETFs Coming to India From Crypto Investment Platform: Report

Mudrex intends to introduce U.S. spot Bitcoin exchange-traded funds (ETFs) to target both institutional and retail investors within India. The move comes amid India’s latest government action to tighten offshore crypto exchanges regulation. During its initial phase, the platform will first feature listing four spot Bitcoin ETFs – BlackRock, Fidelity, Franklin Templeton, and Vanguard. The Liberalized Remittance Scheme (LRS) allows users and institutions seeking exposure to Bitcoin to diversify their portfolios.

Source: Wayne Jones, 2024-03-12; https://cryptopotato.com/us-spot-bitcoin-etfs-coming-to-india-from-crypto-investment-platform-report/

Bitfinex Hacker Turns State’s Witness in Bitcoin Fog Mixer Trial: Report

Ilya Lichtenstein, the man behind the looting of billions of dollars from Bitfinex, is now helping federal prosecutors build a case against Bitcoin Fog, a crypto mixing service. He testified that he used the service about ten times to launder funds. However, he mentioned that the platform was not his main money laundering method since he later moved on to other services better suited for his purpose, such as Helix. U.S. authorities Sterlingo is accused of operating a mixing service utilized by dark-web criminals.

Source: Wayne Jones, 2024-03-04; https://cryptopotato.com/bitfinex-hacker-turns-states-witness-in-bitcoin-fog-mixer-trial-report/

SEC Delays Spot Ethereum ETF Decision From BlackRock and Fidelity

The U.S. Securities and Exchange Commission has once more postponed its decision to approve or deny the applications for spot Ethereum exchange-traded funds. The latest delay comes weeks after the agency greenlighted several Bitcoin ETFs that have since gained massive traction. BlackRock’s initial application was lodged in November, with the federal regulator postponing its decision two months later, citing the need for additional time to review. Although a new decision deadline was set for March 10, this date has been discarded, as revealed in the agency filing.

Source: Wayne Jones, 2024-03-06; https://cryptopotato.com/sec-delays-spot-ethereum-etf-decision-from-blackrock-and-fidelity/

This is Why Pandora’s Price Soared by 35% in the Past 24 Hours

Pandora has witnessed a remarkable surge of over 30% in the last 24 hours amid a broader market resurgence. This increase can be attributed to recent by crypto wallets from renowned exchanges like Binance and OKX, which the inclusion of support for the ERC-404 token standard. The Pandora token peaked at $32,427 today, marking a 35% increase in the past 24 hours. Its current trading price is $29,847, with a market capitalization of $306 million.

Source: Wayne Jones, 2024-02-10; https://cryptopotato.com/this-is-why-pandoras-price-soared-by-35-in-the-past-24-hours/

Bithumb Rockets to All-Time High in Korea: Claims 72% Market Share Over Upbit

Bithumb briefly reached an all-time high market share of 72% in early February compared to its main competitor, Upbit. The latest development surfaces amid intensifying crypto trading activity in South Korea, particularly with the surge in Bitcoin trading. Upbit and Bithumb, the top exchanges in the country, both saw their trading volumes peak during the first week of January 2024. These exchanges have been locked in intense competition with each other, particularly in light of the broader market rebound.

Source: Chayanika Deka, 2024-02-17; https://cryptopotato.com/bithumb-rockets-to-all-time-high-in-korea-claims-72-market-share-over-upbit/

El Salvador’s Bitcoin HODL Strategy Pays Off as Nation Sees 55% Profit

El Salvador initiated its Bitcoin purchases in September 2021, when Bitcoin was valued at $51,769. President Nayib Bukele’s Bitcoin strategy was questioned after its value dropped from $69,000 in November 2021 to $16,000 a year later. However, the investment returned to profitability when Bitcoin surpassed the average purchase price of $42,600 in February. El Salvador has 2,864 BTC, whose current value is $188 million, acquired across 12 transactions at an average price of$42,630 each.

Source: Wayne Jones, 2024-03-17; https://cryptopotato.com/el-salvadors-bitcoin-hodl-strategy-pays-off-as-nation-sees-55-profit/

Bitcoin Bulls Regroup as Ethereum and Binance Coin Take the Center Stage: This Week’s Crypto Recap

The total cryptocurrency market capitalization stands at $2.057 trillion. Bitcoin’s price charted a decline of 2.8% in the past seven days. It was trading above or very close to $52K for quite a while during the past week. It attempted to solidify above $3K on a few occasions, but the bulls were unable to upkeep the buying pressu. It’s perhaps safe to say that it was another cryptocurrency that everyone was looking at this time.

Source: George Georgiev, 2024-02-24; https://cryptopotato.com/bitcoin-bulls-regroup-as-ethereum-and-binance-coin-take-the-center-stage-this-weeks-crypto-recap/

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