Bitcoin Financial News

The crypto community is on edge as the US Securities and Exchange Commission (SEC) approaches a crucial deadline for potential approval of a spot Bitcoin Exchange-Traded Fund (ETF).

China’s Supreme Procuratorate has reportedly disclosed the details behind the seven-year prison sentence given to the founder of the over-the-counter (OTC) crypto trading desk RenrenBit, Zhao Dong.

The Bonk! ($BONK) pullback continues to gather pace, with the $BONK price having now fallen more than 60% from the record highs it hit earlier in the month near $0.000035 per token.

shares of ProShares Bitcoin Strategy ETF, which is popularly known as 'BITO' and tracks the price of futures tied to the world's largest cryptocurrency, a trading note showed on Thursday. Based on the fund's closing price on Wednesday, ARK's stake is worth roughly $92 million, according to Reuters' calculations. After a brutal 2022, the crypto market is on a rebound, with Bitcoin climbing more than 150% so far this year. Big asset managers, including BlackRock, are waiting for regulatory approvals from the U.S. Securities and Exchange Commission (SEC) to launch a string of derivative-based products such as ETFs tracking the spot price of Bitcoin.

Get your daily, bite-sized digest of crypto and blockchain-related news – investigating the stories flying under the radar of today’s news.

Goldman Sachs, a leading global investment banking firm, has projected a substantial surge in trading volumes of blockchain-based assets in the next one or two years, with significant market growth anticipated in three to five years, according to an interview with Reuters . This forecast, as revealed in a recent Reuters interview with Mathew McDermott, the bank's global head of digital assets, aligns with the growing interest in digital assets and blockchain technology observed across the financial sector.

The launch of a spot Bitcoin exchange-traded fund (ETF) is a topic of active debate between the U.S. Securities and Exchange Commission (SEC) and a number of asset managers, notably the massive investment firm BlackRock. This action may be a crucial turning point in the acceptance of cryptocurrencies in traditional financial markets.

FTX's debtors have filed an amended Chapter 11 Plan of Reorganization, which marks a significant development in the ongoing bankruptcy case of the once-prominent cryptocurrency exchange. This revised plan includes a crucial provision that sets the value of cryptocurrency claims based on their cash value at the time of FTX's bankruptcy filing on November 11, 2022. This decision comes amidst a fluctuating cryptocurrency market, where the value of many digital assets, including Bitcoin, has seen notable recovery since the bankruptcy date.

Bitcoin’s recent bull run took the crypto market by storm. Hundreds of projects surged in value, and Bitcoin hit its highest price in 2023. Now, a recent consolidation has driven up the price of Injective and Everlodge, with Everlodge hitting a new all-time high after stage seven of its presale sold out. With Injective now chasing a new all-time high, investors are excited as to how high it could go.

In a striking move that underscores the growing clout of cryptocurrencies, Bitcoin has surged to an impressive $43,545, marking a 2.77 percent increase on Thursday. This notable ascent further cements its position as a dominant player in the digital currency market. In a parallel development, business intelligence firm MicroStrategy’s strategic Bitcoin acquisition has propelled its holdings to a staggering value exceeding $8 billion, highlighting the increasing institutional interest in Bitcoin.

Hong Kong is poised to become a leading hub for cryptocurrency exchange-traded funds (ETFs), particularly spot Bitcoin (BTC) ETFs, as anticipation grows for the approval of such ETFs in the United States. 

gold to crypto. Amidst this dynamic landscape, Bitcoin has been the standout performer, with an impressive surge of over 160% in the past twelve months. Bitcoin has delivered these returns, which is higher than stalwarts like Nifty50 and gold, which delivered nearly 19% and 13.5%, respectively. Prices of some crypto coins (Altcoins) surged up to 16,000%, churning out mind boggling returns for investors. «Bitcoin and Ethereum experienced significant gains, with Bitcoin's Year-to-Date growth reaching an impressive 160%. This upward trajectory reflected a clear shift in sentiment towards crypto assets. The market's growth throughout the year was characterized by organic and sustained development, positioning it favourably for the future,» said Rahul Pagidipati, CEO of ZebPay. Meanwhile, Shivam Thakral, CEO of BuyUcoin, said, «We have witnessed very encouraging numbers in terms of growth. The total market capitalization has increased by around 60% year-to-date. This growth was driven by factors like institutional adoption, DeFi's rise, and NFT popularity. Bitcoin, the world’s largest digital asset by market cap is up by 155% at the time of writing, which makes Bitcoin one of the best-performing asset class of 2023.»

Major crypto tokens were trading mixed with the bias slightly tilting towards the gainers in Friday’s trade. Bitcoin, Ethereum, Solana, BNB, XRP, Dogecoin, Cardano, Avalanche, Toncoin and Tron were trading in the green around 10:30 am. In a major development, Coinbase Global secured registration with the French markets regulator, a Reuters report said, quoting CNBC. France's AMF watchdog gave Coinbase a virtual asset service provider approval, which is effectively a green light for the company to operate digital currency services in France, according to the report. Bitcoin crossed the $44,000 mark following crucial discussions on Bitcoin ETFs between BlackRock, Nasdaq and the US Securities and Exchange Commission (SEC).

Disclaimer: The text below is a press release that is not part of Cryptonews.com editorial content.

#1 & #2 Gold and Silver Gold and silver are classic inflation hedges. Their prices have risen recently, and many market experts hold a bullish outlook for these metals in 2024. As international and monetary assets, their values are closely tied to the US dollar's strength.

Bitcoin SV (BSV), a cryptocurrency fork of Bitcoin, has experienced a notable surge of 65% within the past 24 hours, with Upbit, South Korea’s largest exchange, emerging as the focal point for trading activity.

In a recent development that’s invigorating the cryptocurrency market, Bitcoin (BTC) has experienced a resurgence, now hovering around the $43,000 mark. This comes after a momentary dip below $42,000, with the digital currency currently trading near $42,300.

Elon Musk has again shared his opinion about the current structure of non-fungible tokens (NFTs), noting that embedding JPEG images into a blockchain can establish exclusive ownership for enthusiasts.

Cryptocurrency funds recorded $103 million inflows in the penultimate week of the year as institutional investors keep momentum toward a spot Bitcoin (BTC) ETF approval by the Securities and Exchange Commission (SEC). 

A contributor to Taproot Wizards has launched a script to reject Ordinals inscriptions.

Crypto exchange Bitzlazo has temporarily suspended the withdrawal of Bitcoins from its platform.