Bitcoin Financial News

FTX says that nearly all of its customers will receive the money back that they are owed, two years after the cryptocurrency exchange imploded, and some will get more than that

FTX, once among the largest cryptocurrency exchanges in the world, said this week that nearly all of its customers will receive the money back that they are owed, two years after its monumental collapse

Among the standout crypto stories, BlockDAG is shining, a project that has captured the imagination of massive online audiences, particularly through the energetic promotions by Famous influencers like Luxe Crypto. Luxe’s recent coverage has been crucial in driving attention to BlockDAG, especially with his optimistic forecast that the coin could reach $50 by 2025.  The project is currently in the tenth batch of its presale, with an attractively low coin price of just $0.006, suggesting a bold future. Meanwhile, Stacks (STX) and THORchain (RUNE) have shown volatility. Stacks have dipped below the $2 mark, hinting at further decreases, while THORChain, despite recent price fluctuations, continues to show bullish indicators for potential growth.

Bankrupt cryptocurrency exchange FTX announced a new restructuring plan that, if approved, could finally give most of its customers access to money they lost—plus interest.

A US university commencement speaker for the class of 2024, entrepreneur Chris Pan, said he was high on ayahuasca while writing his speech, which, among other things, promoted Bitcoin and crypto.

In the ever-evolving landscape of cryptocurrencies and financial markets, few events generate as much anticipation and excitement as the Bitcoin halving. As this phenomenon approaches, there’s a palpable buzz in the air, with enthusiasts and investors alike speculating about its potential impact on the market. This time around, however, a new player has emerged on the scene, promising to revolutionize the way we predict and understand financial trends: Cogwise.

Tradu, a trading platform owned by Jefferies’ Stratos Group, went live with a new crypto exchange aimed at active traders on Wednesday.

Bitcoin (BTC/USD) currently displays a potential bullish outlook, trading at $62,901, reflecting an increase of around 1%.  This observation aligns with Fidelity Investments’ analysis that similar patterns of calm have historically preceded major price increases.

Freshly published SEC filings have uncovered a massive Bitcoin whale holding nine-figure funds spread across multiple U.S. Bitcoin ETF products.

On a mostly bearish day in the cryptocurrency market on Tuesday, Render (RNDR), Kaspa (KAS) and Tron (TRX) are top crypto gainers today and some of the only coins trading in the green over the past 24 hours.

The Solana (SOL) price is pulling lower on Tuesday, dipping back to $150 having pushed nearly as high as $160 earlier in the day, though traders continue to predict big near-term upside for the token.

The Visa Onchain Analytics Dashboard is designed to be an easily-digestible, freely-available window into publicly-available aggregated blockchain data, beginning with stablecoins. From information on active users, to volumes by coin and blockchain, to transaction sizes and an evolving set of metrics, the dashboard looks to provide clear insights into stablecoin activity. Explaining the value of the resource, Visa head of crypto, Cuy Sheffield cites a chart that has been making the rounds on social media showing the volume that some of the world’s major settlement networks process annually, in billions of dollars, and comparing those to annual stablecoin volumes. The chart shows stablecoin volumes overtaking Bitcoin, PayPal and "remittances" - and fast approaching Visa.

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Cryptocurrency markets saw a downturn in Tuesday's trading session, with Bitcoin, Ethereum, and Dogecoin leading the decline. The global cryptocurrency market cap also dipped 1.8% to approximately $2.34 trillion within the last 24 hours. As of 12:14 p.m., Bitcoin was trading 1% lower at $63,649, while Ethereum experienced a 3.5% drop to $3,068. Additionally, altcoins like BNB (-1.1%), Dogecoin (-4.9%), Toncoin (2.6%), Cardano (3.3%), Avalanche (-3.1%), and Shiba Inu (-5.2%) followed suit in the downward trend.

Global fintech firm Revolut has introduced its standalone crypto trading platform  called Revolut  X, catering to  UK  retail customers.

Experts in the crypto market  predicted that after the bearish correction arrived in the market, a bull would follow. Now market correction top asset Bitcoin is now above $63,000  and other coins are picking up their momentum.

Japanese Yen has set off alarms in the world of international finance and monetary policy. For the first time since 1990, the yen has weakened past the 160 level against the U.S. dollar, representing a staggering 20% loss in purchasing power over just the last year. This historic slide begs the question — is the yen acting as the proverbial «canary in the mine», providing an early warning sign of deeper systemic risks brewing in the global monetary system? The crisis facing the yen stems from a confluence of factors that have pushed the Bank of Japan into an economic policy corner. With a debt-to-GDP ratio of over 260%, among the highest in the world, Japan has been effectively locked into keeping interest rates at ultra-low levels, near zero, for years. Even as inflationary pressures have built, the BOJ has resisted aggressive rate hikes for fear of making their enormous debt burden even more unmanageable.

US jobs data renewed bets that the Federal Reserve would likely ease rates this year. Bitcoin, the largest cryptocurrency by market value, rose 1.5% to $64,340, while the second-largest digital token, Ethereum, gained 3% to $3,184.

Bitcoin failed to continue its upward trend despite multiple supporting factors such as a bearish US dollar and a dovish stance from the Federal Reserve. It lost some of its gains, dropping to around 63,400 and hitting an intraday low of 62,961.

Public mining companies have reported decreases in Bitcoin production ranging from 6% to 12% for  the month of  April following the halving event.