Crypto Markets News

This year has already been a landmark period for crypto. Bitcoin reached new all-time highs, and the approval of spot Bitcoin and Ether exchange-traded funds (ETFs) in the US marked significant steps toward mainstream acceptance. These milestones highlight the growing integration of digital currencies into the global economy, setting the stage for heightened political and regulatory attention as the election nears.

Bitcoin and ether plunged on Monday to multi-month lows as worries over a possible U.S. recession in the wake of soft data gripped financial markets and triggered a rush to safe-haven assets. Crypto markets have gotten a boost this year after the U.S. Securities and Exchange Commission approved an exchange-traded fund to track the spot price of bitcoin and ether.

Bitcoin touched the highest level since mid-June after Donald Trump expanded his pro-crypto agenda and as expectations for US Federal Reserve interest-rate cuts bolstered investor sentiment. The largest digital asset rose as much as 2.6% on Monday and changed hands at $69,462 as of 11:40 a.m. in Singapore. Smaller tokens such as Ether, Solana and meme-crowd favorite Dogecoin also pushed higher.

crypto community is preparing for the upcoming Bitcoin halving event, where, as the name suggests, Bitcoin rewards will be cut in half. When it comes to the halving date, there are no fixed calendar dates, but it typically occurs approximately once every four years. Current estimates suggest that the next halving will take place sometime late Friday or early Saturday.

Meanwhile, at 4.20 pm, the crypto token was trading 4% higher at $3,830. It has also gained nearly 65% in the last one month, and over 145% in the past one year.

cryptocurrency industry faced a reckoning as its onetime star, Sam Bankman-Fried, was convicted of fraud in a trial that put the industry’s excesses on vivid display. But the ever-volatile crypto markets were already moving on. Shortly before Bankman-Fried’s verdict landed on Nov. 2, the price of bitcoin surpassed $35,000, its highest level since an industry meltdown in 2022. Last week, ether, the second-most popular digital currency, surged 10% to around $2,100, its best performance in months. Some investors rushed to declare the end of the so-called crypto winter of falling prices and financial scandals that have plagued the industry for the last 18 months. Driving the renewed euphoria? A potential new fund.

Binance, another blow to the industry. The U.S. Securities and Exchange Commission sued Binance and its CEO Changpeng Zhao for secretly controlling Binance.US as part of a «web of deception» to evade U.S. laws, among other charges. Reuters earlier reported that Binance controlled its US affiliate's bank accounts, despite claiming it was independent. The SEC also said Binance artificially inflated trading volumes on the platform, diverted customer funds and failed to restrict U.S. customers from its platform and misled investors about market surveillance controls. Bitcoin, the world's biggest cryptocurrency was down 5.45% after falling to its lowest level since mid-March following the news. Binance's cryptocurrency fell 9.72%.

Bitcoin (BTC) rose 2.21% to $29,507, whereas Ethereum (ETH) was above the $1,900 level. BTC volume in the last 24 hours stood at approximately $22.95 billion, falling 35.61% in the last 24 hours. «BTC is trading in the $29.5k range, up ~2% in the last 24 hours as unrest in the banking sector resurfaces and US’ economic growth slowdown,» Parth Chaturvedi, Crypto Ecosystem Lead at CoinSwitch, said. The global cryptocurrency market cap was trading higher around $1.21 trillion, rising 1.71% in the last 24 hours. The total volume in DeFi is currently 3.65 billion, 7.88% of the total crypto market 24-hour volume. The volume of all stablecoins is now $40.51 billion, which is 87.47% of the total crypto market 24-hour volume.

cryptocurrencies has disrupted the global financial landscape, creating both opportunities and risks for investors. With the entry of new and credible players in the crypto space and the possibilities of blockchain technology, cryptocurrencies have become significant growth drivers. However, the rising number of scams in the crypto space has become a concern for investors, with reports indicating that illicit addresses sent nearly $23.8 billion worth of cryptocurrency in 2022 alone. As the crypto industry continues to grow, it is imperative for businesses to prioritise security and regulatory compliance of their operations to prevent any potentially questionable transactions. The Finance Ministry's recent announcement of including crypto businesses under the Prevention of Money-laundering Act, 2002 highlights the increasing importance of regulatory compliance in the crypto space. Any exchange involving virtual digital assets and fiat currencies, exchange between multiple forms of virtual digital assets, and transfer of digital assets will now be subject to the same anti-money laundering standards as other regulated entities. These developments are not unique to India, as other regions such as the EU, US, and Singapore have also implemented similar laws and regulations, such as the Markets in Crypto-Assets (MiCA) provisional agreement, the Framework for International Engagement on Digital Assets, and guidelines by the Monetary Authority of Singapore's Payment Service Act.

Irishman at risk of losing his farm. An American having suicidal thoughts. An 84-year-old widow's lost life savings: People caught in the meltdown of crypto lender Celsius are pleading for their money back.

Nomura has begun offering bitcoin over-the-counter derivatives to clients, it said Friday, the latest move by a traditional financial institution into the cryptocurrency industry, even as markets are in turmoil. The trades, executed on the CME by crypto asset trading firm Cumberland DRW this week, were the Japanese investment bank's first digital asset trades, said Nomura's head of markets, Asia ex-Japan, Rig Karkhanis in a statement. «Working with institutional-grade counterparties will allow us to scale into the increasing demand from our clients,» he said.

Crypto markets still have many puzzles, but they are beginning to reveal their secrets. The last few months of chaos show what Bitcoin and other crypto assets are good for: They are advanced tools of globalization, luxury goods for complex, well-functioning markets — not protections against the depredations of hostile governments.

This is surprising because with cryptocurrency and crypto exchange platforms, like CoinSwitch, becoming a more mainstream part of the global financial system, as they have done in recent years, their vulnerability to the effects of international conflict increases.Crypto prices rally: The facts and the context

Mumbai: Most new crypto investors are in panic mode as the fourth correction in two months has set off fears of a ‘crypto winter’ after Russia’s invasion of Ukraine resulted in a major sell-off in cryptocurrencies on Wednesday night. The crypto markets were in a slump for most of 2018, what is now referred to as a «crypto winter.» In the last two months, Indian crypto investors have had to deal with regulatory ambiguity and the announcement of high tax rates on crypto gains on top of rising volatility in digital assets, which dragged their investments into the red.