Crypto Financial News

Bitcoin (BTC) holdings in centralized digital asset exchanges have plunged 4% to 2 million signaling both positive and market-worsening concerns.

Digital asset lawyer Jeremy McLaughlin has expressed optimism on a re-ignition of the United States cryptocurrency market following landmark wins recorded by Ripple and Grayscale over the Securities and Exchange Commission (SEC). 

Bitcoin's price rose to nearly $28,143 on Tuesday following a positive legal ruling for digital asset manager Grayscale. However, analysts remain cautious about the sustainability of the rally amid low spot market volumes.

Bitcoin jumped to a two-week high on Tuesday, August 29, after digital asset manager Grayscale won a lawsuit against the U.S. Securities and Exchange Commission (SEC).

Digital asset mining firm Argo Blockchain has reported $18.8 million in losses in the first half of the year, reducing total losses to $75 million from last year.

Electricite du Laos (EDL), the state-run power distribution company, has announced a major cut to crypto mining firms in the country, swerving from its pro-crypto stance since 2021.

India assumed the presidency of the G20. India had already bolstered its international reputation with its vaccine diplomacy, by playing a constructive role in climate change discussions, and by being the fastest-growing economy. For its presidency, India adopted the ancient Sanskrit shloka «Vasudhaiva Kutumbakam,» signifying «One Earth, One Family, One Future,” as its theme.

Speaking at the Kansas City Fed's annual Jackson Hole economic policy symposium on Friday, Federal Reserve Chair Jerome Powell signaled the central bank is willing to continue aggressive interest rate hikes to curb high inflation.

The US Department of the Treasury and Internal Revenue Service (IRS) on Friday released new proposed regulations that would require the brokers of digital assets to report certain sales and exchanges in an effort to crack down on tax cheats, as well as to assist law-abiding taxpayers know how much they owe.

Financial markets are watching closely as Federal Reserve Chairman Jerome Powell prepares to speak at the annual Jackson Hole meeting this Friday.

The UK government is evaluating the impact of a potential financial services cold call ban on businesses and private enterprises.

The Central African Republic has rolled out plans to tokenize its land and natural assets as the country seeks more adoption around its blockchain projects.

Marathon Digital CEO Fred Thiel remains positive over the potential approval of a spot Bitcoin (BTC) Exchange Traded Fund (ETF) in the United States by the Securities and Exchange Commission (SEC). 

A number of Atomic Wallet investors have filed a class action lawsuit against the company over its failure to disclose information about the hack which resulted in $100 million.

A new research conducted by banking giant, Citi, shows that most financial institutions are leaning toward adopting Central Bank Digital Currencies (CBDCs) for faster global payments.

One of today's biggest crypto news stories comes from Binance, the world's largest cryptocurrency exchange by trading volume.

Oman has launched a new digital asset mining facility, the second flagged off within months as it seeks to diversify the economy away from oil exports. 

crypto investors, with Bitcoin seeing its most significant weekly drop since the November 2022 FTX crash. In the past week, Bitcoin declined 11.5%, hitting $26,023.3, according to CoinGecko's data as of 5.30 pm on Monday. Similarly, significant alternative cryptocurrencies like Ethereum fell 9.7%, Ripple lost 16.9%, Solana crashed 13.3%, and memecoins such as Dogecoin and Shiba Inu declined nearly 16%. The broader market was already in a bear phase, but Bitcoin faced an 8% plunge on August 18 as Elon Musk's SpaceX reportedly divested its Bitcoin holdings, akin to Tesla. SpaceX had accumulated $373 million in Bitcoin during 2021-2022.

Financial regulators in the South Korean city of Cheongju are set to confiscate digital assets from local tax evaders.

Bitcoin's daily relative strength index (RSI) has plunged below 20, reaching lows not seen since the March 2020 COVID-19 pandemic crash.

That lull snapped Thursday, when Bitcoin plunged more than 8% in the space of a few hours to a two-month low of $25,314 late in the New York day. The slump sparked a broad decline across all of crypto, leading to more than $1 billion in liquidations and putting Bitcoin on pace for its worst week since November and crypto exchange FTX’s collapse. The carnage — fueled by the prospect of prolonged high interest rates and exacerbated by thin crypto trading — was a reminder of the various threats that continue to stalk digital assets, from hostile regulators to a broader rout in risk assets. And even as Bitcoin has recovered smartly from last year’s lows, many investors are still sitting out, depriving the market of the breadth and depth that are key ingredients for a sustained bull run. “There are still significant amounts of macro uncertainty keeping investors away, and liquidity is still thin,” said Noelle Acheson, author of the “Crypto Is Macro Now” newsletter and former head of market insights at Genesis Trading. “Bottom line, there’s not yet enough conviction.”