After a short period of diminished onchain network fees, the expense of sending bitcoin has begun climbing once more, hitting a midweek average of 73.3 satoshis per virtual byte (sats/vB) or $ 11.48 for each transaction. Currently, a backlog of 207 mempool blocks is pending, waiting to process about 134,000 unconfirmed transactions, a situation …
Arweave and Aptos Lead Crypto Market Surge With Stellar Gains as BTC Nears All-Time High
Bitcoin experienced a 6.8% increase on Wednesday, reaching a peak of $ 64,000. This upturn also propelled several other digital assets upwards, notably arweave (AR) with a 50.3% increase and aptos (APT) with a 23.5% appreciation against the U.S. dollar. AR, APT, FET, DOGE, PEPE, and ORDI Post Impressive Gains Amidst Crypto Upswing As …
Bitcoin Futures’ Open Interest Reaches Lifetime High, Surpassing 2021 Bull Run
Bitcoin’s value has been on an impressive rise over the past month, and by the start of the week, the leading digital currency surpassed the $ 57,000 range for the first time since Nov. 2021. This upward trend in value has stimulated bitcoin-based derivatives, causing open interest in bitcoin futures to hit an unprecedented …
Do Kwon’s Fate Sealed — Montenegro High Court Opts for US Extradition in Legal Tug-of-War
In a landmark decision, the High Court in Podgorica has ruled that the former Terraform Labs CEO, Do Kwon, will be extradited to the United States, sidelining South Korea’s request for his extradition. The court’s ruling comes after extensive deliberations on the legal and political implications of the extradition. Report Details Do Kwon’s U.S. Extradition […]
Bitcoin Soars Above $45K, Reaching 4-Week High Post Spot ETF Launch
Bitcoin’s USD value surged to its peak in nearly four weeks, marking the highest point since the launch of spot bitcoin exchange-traded funds (ETFs) on Jan. 11, 2024. On Thursday, bitcoin’s price climbed over 4% against the U.S. dollar, and hit a peak of $ 45,522 per unit. Bitcoin Breaks $ 45K Barrier …
Kenyan High Court Unfreezes $3 Million Belonging to Nigerian Fintech Giant Flutterwave
A recent ruling by the Kenyan High Court in favor of the Nigerian fintech startup Flutterwave will see it finally get access to $ 3 million which has been frozen since July 2022. The judge slammed the Assets Recovery Agency for continuing to hold onto the funds even after it withdrew its suit against …
Singapore High Court Denies 3AC’s Bid to Dismiss Suit by Defiance Capital Founder
The High Court of Singapore has denied Three Arrows Capital’s (3AC) attempt to dismiss a lawsuit by Defiance Capital founder Cheong Jun Yoong, affirming the legal standing of digital assets in trust disputes. Singapore Court Upholds Defiance Capital’s Suit Against 3AC in Crypto Case The High Court of Singapore has rejected a motion by the […]
Bitcoin’s Hashrate Hits 7-Day Record High, Surging to 566 EH/s Amid Anticipation of Upcoming Difficulty Adjustment
Bitcoin’s computing power has soared to unprecedented levels, with the seven-day simple moving average (SMA) peaking at 566 exahash per second (EH/s) as of Jan. 30, 2024. Despite experiencing a slight decline in mid-January, the network’s hashrate is on an upward trajectory, in anticipation of the expected difficulty adjustment set for Feb. 2, 2024. …
SEC Crypto Enforcement Reached New High in 2023
U.S. Securities and Exchange Commission (SEC) crypto enforcement skyrocketed in 2023, with more than a 50% increase in crypto-related enforcement actions compared to 2022, according to a new report. The securities regulator “continues to view cryptocurrency-related enforcement as a top priority, bringing 46 enforcement actions against various digital-asset market participants,” the report details. SEC Prioritizes […]
Grayscale Bitcoin Trust Stash Dips by 10,800 BTC in One Day Amid High GBTC Trading Activity
The Grayscale Bitcoin Trust, commonly referred to as GBTC, has recently divested a considerable quantity of bitcoin. Records indicate that a total of 10,823.86 bitcoin, valued at approximately $ 447.40 million, was withdrawn from the holdings of GBTC in the span from Thursday to Friday morning. GBTC’s Bitcoin Cache Continues to Witness Outflows GBTC …
Peter Schiff Says ‘Big Surprise’ Awaits in 2024 — Warns of Crash, Recession, High Inflation Returning With Vengeance
Economist Peter Schiff has shared some predictions for 2024. “The big surprise in 2024 will not only be that the economy crashes into recession, but that high inflation returns with a vengeance,” he described. The technicals are breaking down for the U.S. Dollar Index, he added, emphasizing: “This couldn’t come at a worse time. The […]
IMF Chief Calls for Clear Crypto Regulation — Warns High Crypto Adoption Could Undermine Financial Stability
The head of the International Monetary Fund (IMF) has called for clear crypto regulations worldwide, cautioning that high crypto adoption could undermine macro-financial stability. “Our goal is to make a more efficient, interoperable, and accessible financial system by providing rules to avoid the risks of crypto, and infrastructure by leveraging some of its technologies,” she […]
Report: Montenegro High Court Extends Do Kwon’s Detention by 2 Months
Do Kwon, the ex-CEO of Terraform Labs, is set to spend two months in Montenegro custody after the country’s High Court moved his release date to Feb. 15, 2024. While Do Kwon reportedly prefers being sent to South Korea, Montenegro’s justice minister is said to be leaning towards sending him to the United States. Do […]
Vaneck Expects Bitcoin Price to Reach All-Time High After Donald Trump Wins US Presidency
Asset management firm Vaneck has predicted that bitcoin’s price will reach an all-time high on Nov. 9, following a “combative election that saw Donald Trump win 290 electoral votes and regain the presidency, raising optimism that the SEC’s hostile regulatory approach will be dismantled.” Vaneck further predicted that Satoshi Nakamoto could be named Time Magazine’s […]
US CPI Sees Slight Uptick in November, Fed Likely to Maintain High Rates
In November, the U.S. Consumer Price Index (CPI), a principal measure of inflation, registered a modest rise of 0.1%, maintaining a consistent annual increase of 3.1%. This minor growth in prices reflects subtle economic shifts, with energy costs witnessing a marked reduction, in contrast to the gradual rise in expenses for housing and food. U.S. […]