Bitcoin Financial News

Bonk (BONK) is down another 6% on Friday, taking its run of losses since hitting all-time highs in December to nearly 70% as meme coin hype continues to fade.

Firms looking to launch spot bitcoin exchange-traded funds cleared a major hurdle this week on the path to gaining sign-off from U.S. regulators in coming days.

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In the ever-evolving world of cryptocurrencies, Bitcoin (BTC/USD) stands out, marking significant strides in the global financial scene. As of January 5th, Bitcoin’s recovery is evident with its price soaring to an impressive $44,900, a notable 2.5% increase in just 24 hours.

Bitcoin (BTC) has fallen back to the south of the $44,000 level and is eyeing a test of $43,000 once again in wake of a stronger-than-expected US jobs report and as market participants eye the possibility of the approval of spot Bitcoin ETFs in the US within days.

Friday, January 5, 2023 – The Bitcoin price is hovering around the $44,000 mark in readiness for a breakout to $50,000 if and when a Bitcoin ETF is approved, possibly as early as today, while tokenized cloud-mining innovator Bitcoin Minetrix ($BTCMTX) has raised more than $7.5 million from contributors.

An Ethereum (ETH) spot ETF is due to reach the U.S. market after a slew of Bitcoin (BTC) based equivalents are likely greenlighted next week, according to Bloomberg ETF analyst James Seyffart.

Grayscale Investments, a leading cryptocurrency trust manager, has announced the resignation of Barry Silbert from its board of directors. Silbert, recognized as the founder and CEO of Digital Currency Group (DCG), the parent company of Grayscale, officially stepped down as of January 1, 2024. This move comes amidst a challenging period for the crypto industry, particularly following the 2022 market downturn.

Tether, the largest stablecoin operator, made headlines on Christmas Day by minting 1 billion USDT (Tether) on the Ethereum blockchain. This move, described by Paolo Ardoino, Tether’s CTO and new CEO, as «authorized but not issued,» is part of what the company calls inventory replenishment. This means these tokens are prepared for future issuance requests and chain swaps, but are not yet released into circulation​​​​.

On December 25, 2023, the Bitcoin network achieved a significant milestone. The mining hash rate, a measure of the network's computing power, soared to an all-time high of 544 exahashes per second (EH/s). This landmark event confirmed by Blockchain.com marks a remarkable increase of 130% since January 2023, when the hash rate was at 253 EH/s​​​​​​.

Crypto investors are eagerly awaiting an imminent ruling from the SEC that will likely approve the trading of a spot bitcoin ETF, more than a decade after initial attempts were rejected. 

Investors have grown more cautious ahead of the US Securities and Exchange Commission’s upcoming decision on the approval of an exchange-traded fund (ETF) linked directly to Bitcoin (BTC).

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cryptocurrency exchanges are recording higher trading volumes, deposits, and user registrations following Financial Intelligence Unit's (FIU’s) decision on December 28, 2022, to issue compliance show-cause notices to nine global crypto exchanges along with a request to the IT ministry to block their URLs for not adhering to Indian regulatory norms. Leading Indian crypto exchange Coin DCX has recorded a sharp increase in deposits post-FIU's action. “CoinDCX witnesses a phenomenal 2000% surge in crypto deposits as investors prioritise compliance and security. The fact that CoinDCX is the first FIU-registered entity and ISO-certified is working for us. We have enabled crypto deposits, and the process of transferring virtual digital assets (VDAs) from other platforms to CoinDCX is straightforward and hassle-free,” said Sumit Gupta, co-founder & CEO of CoinDCX, which has over 1.4 crore users on its platform currently. “Even our signups have gone up by 2X.” Another prominent crypto exchange, CoinSwitch, witnessed a jump in trading volumes. It also reinstated crypto deposits on Thursday, a service which it had suspended last year.

A new survey from digital asset management firms Bitwise and ETF data provider VettaFi has revealed a notable disparity in expectations among financial advisors regarding the approval of a spot Bitcoin ETF in 2024.

The cryptocurrency markets displayed notable activity this week, spearheaded by Bitcoin. Commencing the year on an upward trajectory, Bitcoin initiated a shift to break free from its sideways movement.

In the dynamic world of cryptocurrencies, Bitcoin stands at a pivotal juncture, trading at $43,631 with a notable increase of 0.96% on Friday. This upswing is partly attributed to Marathon Digital’s record-breaking achievement in December, mining an impressive 1,853 Bitcoins.

In a recent surge of optimism among cryptocurrency traders, social media platforms have been flooded with calls to “buy the dip” following Bitcoin’s price slide. 

A village in Malawi is full of “happy people” – thanks to Bitcoin mining.

Bitcoin mining company Marathon Digital has set a new production record by mining the highest amount of Bitcoin in a single month. 

Now-defunct cryptocurrency lender Celsius Network has revealed plans to unstake its Ethereum (ETH) holdings as part of its efforts to distribute assets to creditors.