News – Page 41

Bitcoin Hits Record High in Argentina, Reaching 40 Million Pesos per BTC

Bitcoin reached a new all-time high in Argentina, soaring to a record valuation of 40 million pesos per BTC. Digital assets are slowly emerging as a beacon of financial resilience and stability for many citizens. Argentina has a history of economic instability marked by frequent currency devaluation, complicating savings and financial management for its residents. In a bid to preserve purchasing power, Argentines have to popular stablecoins such as USDT and USDC for saving and converting local earnings instead of Bitcoin. According to Chainalysis’ findings, Argentina ranks 1 in the world for digital asset adoption.

Source: Chayanika Deka, 2024-02-13; https://cryptopotato.com/bitcoin-hits-record-high-in-argentina-reaching-40-million-pesos-per-btc/

Einstein price has been oscillating inside a large ascending channel on the daily chart. The higher boundary of the pattern, paired with the $2,750 resistance level, has rejected the price to the downside. ETH is currently consolidating between the £2,400 and £2.150 levels, with the mid-term fate of the market depending on the direction of the potential breakout from either side. In case the price fails to climb back above, the likelihood of a further drop toward the 200-day moving average located around the $ 2,000 level will be significant.

Source: CryptoVizArt, 2024-02-03; https://cryptopotato.com/alarming-similarities-in-previous-eth-patterns-will-2-3k-hold-ethereum-price-analysis/

Ark Invest Wants To Add Staking To Its Spot ETH ETF: Will The SEC Approve?

Cathie Wood’s asset manager Ark Invest wants to bake staking into its proposed Ethereum Spot ETF. Ark said it expects to stake Ether from its cold vault balance, as held by Coinbase. Staking rewards would vary widely based on network conditions, and would be reportable to shareholders as taxable income. The proposal adds a juicy new value proposition for crypto ETFs, which until now were thought of solely as a vehicle to gain accurate price exposure to an underlying crypto asset (Bitco)

Source: Andrew Throuvalas, 2024-02-09; https://cryptopotato.com/ark-invest-wants-to-add-staking-to-its-spot-eth-etf-will-the-sec-approve/

Cypriot Court Rules to Extradite Mining Magnate Beny Steinmetz to Romania

Cypriot court rules to extradite mining entrepreneur Beny Steinmetz to Romania. He has been sentenced to five years in prison for conspiring to corruptly obtain former royal lands. His representatives say they will appeal the decision to the country’s Supreme Court. Judge Michalis Michael says there was a risk of his fleeing justice, as he would be held in detention until his extradition or the filing of an appeal. He was arrested at Larnaca airport on August 31, on the basis of aissued by Romania after his conviction.

Source: Written by Christodoulos Mavroudis, 2023-10-12; https://www.occrp.org/en/daily//en/daily/18123-cypriot-court-rules-to-extradite-mining-magnate-beny-steinmetz-to-romania

South Korean Crypto Exchanges Report Nearly 50% Surge in Suspicious Transactions in 2023

South Korea logged 16,076 instances of reported crypto transactions suspected of links to activities like money laundering, market manipulation, or illicit drug trading in 2023. Authorities in the country received almost 49% more alerts of potentially suspicious transactions from crypto service providers in 20 23 compared to the previous year. The FIU attributed this rise to improved communication with domestic companies, urging them to report such activities. However, the agency refrained from providing specific information about these alerts, citing the Specified Financial Information Act.

Source: Chayanika Deka, 2024-02-19; https://cryptopotato.com/south-korean-crypto-exchanges-report-nearly-50-surge-in-suspicious-transactions-in-2023/

Bitcoin (BTC) Is Approaching a Turning Point After Extending Rally Beyond $47k

Bitcoin surged past $47,000 for the first time in nearly a month. The uptick has brought a sense of relief for its investors, who recently endured a brief plunge to 38,500. Net Unrealized Profit/Loss (NUPL) is an important metric for assessing the overall sentiment of Bitcoin investors. As of February 8, 2024, with a NUPL value of 0.48, investors are evidently still in profit, although indications signal a transition to a crucial stage.

Source: Chayanika Deka, 2024-02-10; https://cryptopotato.com/bitcoin-btc-is-approaching-a-turning-point-after-extending-rally-beyond-47k/

USDC Wallet Growth Soars 59% Despite Headwinds: Circle

The world’s second-largest stablecoin – USDC – wasn’t immune to these forces either. The total circulating supply has declined from approximately $45 billion to about $25 billion by the conclusion of November 2023. Despite this, the number of USDC wallets with a balance of at least $10 has grown 59% in the last year alone, rising above 2.7 million. Circle revealed that its stablecoin has been used to settle over $12 trillion in blockchain transactions since its introduction in 2018.

Source: Chayanika Deka, 2024-01-21; https://cryptopotato.com/usdc-wallet-growth-soars-59-despite-headwinds-circle/

Ukraine Cracks Down on Group That Racketeered Families of Fallen Soldiers

Three suspects were already known to law enforcement, having been involved in serious crimes such as robbery. The suspects demanded US$10,000 from the wife of one of the fallen Ukrainian soldiers, claiming that her husband owed them the money. To intimidate the woman, the extortionists persistently harassed her and subjected her to psychological pressure, even resorting to threats of torturing her and killing her along with her minor child if she refused to pay, according to the SBU. The police have dismantled the organization that instilled fear and sought to intimidate the inhabitants.

Source: Written by Zdravko Ljubas, 2024-02-14; https://www.occrp.org/en/daily//en/daily/18468-ukraine-cracks-down-on-group-that-racketeered-families-of-fallen-soldiers

Cboe BZX Withdraws Application for Global X Bitcoin ETF Listing

The Global X Bitcoin Trust’s initial application was submitted in August 2023, and despite two for consideration in September and November, the exchange officially withdrew its proposal on January 26. Bloomberg Intelligence ETF analyst James Seyffart commented on the withdrawal, stating that it was not surprising, given prior indications. This is not surprising because we have known the Global X ETFs’ Bitcoin ETF was no longer in contention since at least early December. As of December 2023,. Global X had approximately $51 billion in assets under management in its ETFs worldwide.

Source: Wayne Jones, 2024-02-01; https://cryptopotato.com/cboe-bzx-withdraws-application-for-global-x-bitcoin-etf-listing/

Bitcoin (BTC) Price Clinches New ATH Record Against Japanese Yen

Bitcoin hit an all-time high against a few depreciating fiat currencies, including the Japanese Yen. Bitcoin surged to a fresh peak of 7.9 million Yen on the Tokyo-based cryptocurrency exchange bitFLYER. In comparison, its price in USD remained above $52,000, which was still down by more than 30% from its previously established record high of $69,000. Bitcoin climbed by nearly 20% this week, surpassing the $1 trillion market cap for the first time since November 2021.

Source: Chayanika Deka, 2024-02-16; https://cryptopotato.com/bitcoin-btc-price-clinches-new-ath-record-against-japanese-yen/