The price of bitcoin drops to $42,000 on Sunday and is presently trading at $42,588. This represents an almost 0.60% reduction. The question of whether now is the perfect moment to purchase the dip is one that both fans and investors are asking in light of the recent volatility in the value of Bitcoin. A

After a protracted crypto winter, cryptocurrency companies are anticipating calmer times ahead, with institutional demand and rising Bitcoin acceptance spurring innovation in the market. Industry insiders told Cointelegraph that scalability and compliance solutions are trends to watch this year. The Ethereum and Bitcoin networks face problems related to transaction fees and performance. Not by accident,

In the last 30 days, there have been market swings that have caused Solana to overtake XRP in HKVAC’s top 5 cryptocurrency worldwide index, and AVAX to replace Tron. A number of well-known cryptocurrencies have been removed from the top 5 crypto index, top 10 crypto index, and overall crypto index by the Hong Kong

With the app loaded and on the web, old users can still access and use the FIU-notified cryptocurrency exchanges, even though Google Play Store has blacklisted them. Google has eliminated several offshore exchanges, including Bitget, Huobi, OKX, Gate.io, MEXC, KuCoin, Binance, and Bitget, from the Play Store in India. Delisting of the same apps from

Vanguard, one of the world’s biggest asset management organizations, has secured a substantial investment in MicroStrategy (MSTR), providing investors with indirect exposure to Bitcoin (BTC).Vanguard is positioned as a major player in the cryptocurrency market while choosing not to offer Bitcoin exchange-traded funds (ETFs) on its platform. Instead, it has chosen to invest in MicroStrategy shares.According to information from Yahoo Finance, as of September 2023, Vanguard Group owned an astounding 1,126 million shares of MicroStrategy, or 8.24% of the company. Vanguard is now the second-largest institutional shareholder in the business intelligence company as a result of the sizeable investment. However, the fact that MicroStrategy has deliberately diversified its financial sheet by amassing an astounding 189,150 BTC in recent years—a sum estimated to be worth $5.9 billion—makes this investment especially noteworthy.As a result, MicroStrategy has been described by some analysts as “basically a leveraged Bitcoin ETF.” Unlike numerous other asset managers who have developed spot Bitcoin ETFs, Vanguard has purposely separated itself from the crypto market.When a flurry of asset managers launched spot Bitcoin exchange-traded funds (ETFs) on major Wall Street exchanges on January 11, Vanguard decided to prohibit the buying of these goods.The company rationalized its decision by claiming that these products did not correspond with its strategy, since it remains focused on traditional asset classes like equities, bonds, and cash, which it considers as the building blocks of a well-balanced, long-term investment portfolio.Vanguard has a sizable stake in MicroStrategy, which suggests that it has some indirect exposure to the cryptocurrency sector despite its stated position against Bitcoin ETFs. Because of this indirect exposure, the volatile price fluctuations of Bitcoin may have an impact on Vanguard’s mutual funds, which include the Vanguard Total Stock Market Index Fund, Vanguard Small-Cap Index Fund, Vanguard Extended Market Index Fund, and Vanguard Small-Cap Growth Index Fund.UBS, the massive banking company headquartered in Zürich, has stated that, in contrast to Vanguard, it will permit certain of its clients to trade bitcoin ETFs, provided they meet certain requirements.According to a UBS insider who wished to remain anonymous, the requirements are as follows: UBS is not permitted to solicit the trades, and accounts with a lower risk tolerance are not permitted to purchase them. Citigroup, meanwhile, “currently provides our institutional clients with access to the recently approved Bitcoin ETFs from an execution and asset servicing perspective,” a spokesperson said. The international bank with headquarters in New York is “evaluating the products for individual Wealth clients.”After almost ten years of regulatory resistance, the SEC approved eleven Bitcoin exchange-traded funds (ETFs) in a historic step.The ruling has made it possible for significant, established financial institutions like Fidelity, Invesco, and BlackRock to offer direct access to funds that invest in Bitcoin.Spot Bitcoin ETFs saw an incredible $4 billion in trading volume on their first day of trading, according to statistics from Yahoo Finance.

On January 15, the Petro (PTR), the cryptocurrency of Venezuela, is scheduled to stop trading.With the intention of assisting the nation in avoiding US sanctions, the Petro was unpopular from the beginning and was never widely adopted.On a government-run website devoted to the cryptocurrency, the official notification of Petro’s closure is purported to have been published, yet as of this writing, the website is unavailable.The administration component of the Venezuelan Patria website, which was reportedly the sole venue for Petro trading, is now only accessible through a password. Due to pressure from US sanctions, Venezuela’s fiat currency, the bolivar, saw severe devaluation. As a result, the Petro cryptocurrency was first introduced as an oil-backed digital money.The action was taken after Bitcoin had become well-known throughout the nation. President Nicolas Maduro of Venezuela ordered the Petro to be issued, but the legislature objected.Even after reaching complete operation in 2020, the Petro was not well-received abroad.The Bolivarian Alliance for the Peoples of Our America’s ten member states were encouraged to adopt it, although the Maduro administration did not succeed in getting it widely accepted.Acceptance of the Petro was not required because it was never deemed legal tender domestically. Remarkably, Banco de Venezuela, the biggest bank in the nation, refused to take Petro unless required to do so by a presidential decree.When U.S. Immigration and Customs Enforcement posted a $5 million reward in June 2020 for the arrest of Joselit Ramirez Camacho, the head of the National Superintendency of Crypto Assets, who was in charge of managing the Petro, the matter took a more serious turn.He was charged with being involved in the trafficking of illegal drugs abroad.In March 2023, Ramirez Camacho was apprehended in Venezuela on suspicion of financial irregularities in the country’s oil sector. As a result, the organization he oversaw was closed for reorganization and subsequently had its closure prolonged until March 2024.Numerous cryptocurrency exchanges and mining companies across the nation were forced to close as a result of this crackdown.Despite the Central Bank of Venezuela’s statement of plans to launch a central bank digital currency (CBDC) in 2021, it is important to remember that the Petro was not one.Sadly, those intentions were never carried out, making the Petro a botched attempt to overcome Venezuela’s economic difficulties.Following an investigation into a corruption scheme in which cryptocurrency wallets were used to divert money owed to the state-run oil giant Petróleos de Venezuela, state regulators in March of last year ordered an end to cryptocurrency mining.

Do Kwon, a co-founder of Terraform Labs, has asked the Southern District of New York United States District Court to push back his trial date until March. He cites difficulties obtaining extradition from Montenegro as justification for the motion.Kwon’s attorneys wrote to Judge Jed Rakoff on January 11th, expressing their desire for Kwon to personally attend the trial, which is set for January 29th.But they had assumed that by now Kwon would have been granted permission to return to the United States. “Mr. Kwon wishes to attend his trial. Counsel had hoped the extradition proceedings in Montenegro would proceed more quickly than they have.” The SEC accused Kwon of participating in the planning of a multibillion-dollar cryptocurrency securities scam and filed fraud charges against him in February 2023. The accusations included the demise of the corresponding token, Terra (LUNA), and stablecoin, TerraUSD (USTC), both from Terraform Labs.Although acknowledging the importance of the case, Kwon’s attorneys stated that he would not be able to attend the trial this month. “We understand the Court cannot put the trial on hold indefinitely, but an adjournment until mid-March would provide a realistic possibility for Mr. Kwon to attend,” the letter stated. The High Court of Podgorica’s ruling authorizing Kwon’s extradition to the United States or South Korea was overturned by the Appellate Court of Montenegro, according to a December 2023 Cointelegraph story.This is in response to rumors that, only one week prior, South Korean and American authorities were asking to keep Kwon in custody for an extra two months after his sentence was up.Both the U.S. and South Korea are pursuing Kwon’s extradition.Growing rumors have suggested that Kwon might receive multiple sentences in both nations.In March 2023, Kwon attempted to leave the country using forged travel documents and was apprehended in Montenegro.

According to BlackRock CEO Larry Fink, he hasn’t given thought to where Bitcoin’s price might go and that it might not replace fiat money for regular purchases. As he reiterates that Bitcoin should be viewed by the public as primarily an asset class, BlackRock CEO Larry Fink questions the viability of utilising it for regular

This distribution is in line with Hedera’s objective to broaden its customer base in the wake of its 2023 performance, which was demonstrated by the network’s 33 billion real-world transactions. The Hedera Council, the governing body of the Hedera network, has authorised allocating 4.86 billion. The native coin of Hedera Hashgraph, for advanced decentralised governance

Gensler declared that the SEC is assessing the effect of the security compromise on investors, marketplaces, and crypto authorities while taking the cybersecurity situation seriously. There is currently no proof that an unauthorised party obtained access to SEC devices, data, systems, or other social media accounts, according to US Securities and Exchange Commission (SEC) Chairman

A day after the highly anticipated bitcoin (BTC) exchange-traded fund (ETF) became live, BlackRock CEO Larry Fink supported the idea of an ether (ETH) ETF. “I see value in having an Ethereum ETF,” Fink said in an interview with CNBC on Friday. “These are just stepping stones towards tokenization and I really do believe this is where we’re going to be going.” BlackRock’s iShares Bitcoin Trust (IBIT) was one of the few such products to make its trading debut in the U.S. on Thursday after the Securities and Exchange Commission’s (SEC) approved the funds on Wednesday.Of the $4.6 billion in trading activity that the ETFs experienced overall, IBIT accounted for about $1 billion of it. As part of its long journey toward tokenization, the massive asset management company might now be trying to offer a product that is comparable to the Ethereum blockchain’s native token. The process of representing assets—digital or real—into tokens on a blockchain is known as tokenization.Fink thinks tokenization can resolve issues with corruption and money laundering.Additionally, Fink stated that he did not view cryptocurrencies as a form of money but rather as an asset class, citing bitcoin in particular as “an asset class that protects you” against concerns about geopolitical risk. “It’s no different than what gold represented over thousands of years,” he said. “Unlike

In the United States, white supremacist organizations have occasionally received funding from cryptocurrency, as per an analysis conducted by the Anti-Defamation League (ADL) last year that examined approximately $140,000 in transactions linked to fifteen extremist organizations or individuals.The ADL, an advocacy organization based in New York that fights extremism and antisemitism, observed that supporters of the bitcoin movement used a variety of digital asset platforms to transfer funds to hate groups; however, there was no proof that the funds were used for any illegal activity, including domestic terrorism.Furthermore, the research revealed that American banks frequently redirected the bitcoin that supporters had donated into the conventional financial system. “Extremists have increasingly turned to cryptocurrency due to the mistaken belief that the technology offers anonymity and is impervious to deplatforming,” noted the report from the ADL’s Center on Extremism, examining how the assets made their way into the hands of white nationalists. “Neither of these assumptions are accurate, but extremists have benefited from

Since its debut on U.S. exchanges on Thursday, Franklin Templeton’s bitcoin (BTC) exchange-traded fund (ETF) has the lowest cost of all the new investment products.The fee charged by San Mateo, California-based Franklin Templeton for its Bitcoin ETF (EZBC) has been lowered from 0.29% to 0.19%, as per a document submitted on Friday to the Securities and Exchange Commission (SEC).Franklin Templeton’s 10 basis-point drop makes its fund’s fee the lowest, replacing that of Bitwise, which charges 0.2%. Till Aug. 2, 2024, the fund manager will also waive off fees for its ETF till the fund hits assets under management (AUM) of $10 billion.A number of providers promptly lowered their prices after first disclosing them on Monday, perhaps anticipating the imminent competition for market share that would ensue upon approval of the funds. Bitcoin ETFs clocked around $4.6 billion in trading activity on Thursday, with Franklin Templeton responsible for about $65 million of the total sum.

The day after spot bitcoin ETFs made their debut in the United States, cryptocurrency asset management CoinShares (CS) exercised its option to purchase the exchange-traded fund (ETF) division of Nashville, Tennessee-based Valkyrie Investments. The Saint Helier, New Jersey-based CoinShares firm, which obtained the option on Valkyrie Funds in November, announced on Friday that it had

Soon after an exploit that led to the transfer of $1.2 million from some customers’ accounts, Telcoin, the company informed CoinDesk in an X message today, restored all user balances. Paul Neuner, the CEO and founder of Telcoin, commented, “I’m proud of the team for making that happen in record time. Preemptively restoring affected user

The Financial Services Commission (FSC), which oversees financial matters in South Korea, released a statement indicating that U.S. bitcoin ETFs that have recently been launched may not comply with Korean legal regulations. The regulator believes that domestic broking of a U.S.-listed bitcoin spot ETF by Korean securities firms may potentially clash with the country’s Virtual

Three out of the five committee members that accepted the files that resulted in the first-ever spot bitcoin (BTC) exchange-traded fund (ETF) were led by Gary Gensler, the chairman of the U.S. Securities and Exchange Commission (SEC).Gensler was one of the three commissioners who authorized the submissions, along with Hester Peirce and Mark Uyeda, according to a notice of commission voting posted on the SEC website.Jaime Lizárraga and Caroline Crenshaw, commissioners, voted against the measures. Although Gensler has publicly expressed his skepticism and dismissal of the cryptocurrency market, Peirce is well-known for his support of the sector. Gensler has highlighted fraud and customer protection as the two main concerns facing the industry. In his initial remarks following the approvals on Wednesday, Gensler reiterated the SEC’s opposition to bitcoin, claiming that the regulator was obliged to accept more than 12 bitcoin ETFs because to its legal defeat over rejecting Grayscale’s in 2022. “We did not approve or endorse bitcoin,” Gensler said. “Investors should remain cautious about the myriad risks associated with bitcoin and products whose value is tied to crypto.” Crenshaw, who took issue with the filings, said in a different statement that the choice “put us on a wayward path that could further sacrifice investor protection.” Big financial players BlackRock (BLK) and Fidelity are among the approved providers. The well-known Bitcoin Trust (GBTC), managed by Grayscale, is one of the cryptocurrency native funds that has been uplisted as an ETF.At Bitwise, Invesco, ARK, and Grayscale, fees for these products can reach 1.5% after just a few months.

Ethereum (ETH) investors are encouraged by the historic U.S. approval of spot bitcoin (BTC) exchange-traded funds (ETF) on Wednesday. They are speculating that the token powering the Ethereum network may be the next in line. Bitcoin saw a 1.3% increase in price in a day, whereas ETH saw a 10% gain. The value of layer

Grayscale’s bitcoin fund (GBTC), the largest bitcoin investment vehicle, has seen its discount to net asset value (NAV) decrease to 0% for the first time since February 2021.This occurs after the U.S. Securities and Exchange Commission granted the company permission on Wednesday to transform the fund into a spot bitcoin exchange-traded fund (ETF), which started trading on Thursday am (with ten other ETFs). Since February 2021, the fund has traded below the value of the Bitcoin it owned, and in December 2022, it reached all-time lows of almost 50%.Due to growing bitcoin sentiment and the emergence of anticipation for an ETF approval last summer, GBTC’s discount to NAV started to decrease dramatically. Before the fund’s conversion into an ETF was approved by the SEC, the discount had dropped as low as 5.6% on Monday. “GBTC converging to NAV is a huge relief for the space and a symbol of the industry’s move into a new stage of maturation,” said Sean Farrell, head of digital asset strategy at FundStrat.“This product GBTC caused a lot of unnecessary pain over the past few years for obvious reasons,” said Farrell.The nature of the fund was the cause of the discount.

The introduction of spot bitcoin (BTC) exchange-traded funds (ETFs) may help institutional investors since, according to Goldman Sachs (GS) in a research, these products will enable them to trade a proxy with low management fees and participate more actively in options hedging and arbitrage techniques. On Wednesday, spot bitcoin ETFs were finally approved in the

Voting to onboard PayPal’s PYUSD stablecoin, issued by Paxos Trust Company, is being conducted by the decentralised non-custodial lending and borrowing protocol Aave. 99.98% of AAVE token holders taking part in the ongoing governance vote are in favour of adding PYUSD to AAVE’s Ethereum-based pool. The plan, dubbed a “temperature check,” was put up by

Following the U.S. Securities and Exchange Commission’s (SEC) approval of multiple spot bitcoin exchange-traded funds (ETFs) on Wednesday, the decentralised betting platform Polymarket saw a surge in trading volume of $5.7 million. Based on data released by PolyMarket on social networking platform X, the rise exceeded even the leading NFT marketplace OpenSea, which posted a

Almost $90 million worth of bitcoin (BTC) long and short positions had to be liquidated due to price volatility that followed a series of fictitious tweets from the U.S. Securities and Exchange Commission (SEC)’s X account. This illustrates the industry’s risk of manipulation. On Tuesday, hackers gained access to the SEC’s X account, which they

According to Luuk Strijers, chief commercial officer of prominent cryptocurrency options exchange Deribit, traders are looking for insurance against a possible decline in the price of bitcoin (BTC). “Puts are overbought and calls are being sold, indicating the market is seeking protection from potential price declines,” Strijers said in an interview. Buyers can protect themselves

Days after the Indian government delivered compliance show cause notices to nine entities, Apple pulled Binance, KuCoin, and other offshore cryptocurrency exchanges from its app store in India.Despite not receiving a show cause notice, OKX, a well-known offshore bitcoin exchange, has also been taken down from the Apple India app store.The nine exchanges that received notices include Bitfinex, MEXC Global, Bittrex, Bitstamp, Huobi, Kraken, Gate.io, Binance, KuCoin, and Huobi. In accordance with the Prevention of Money Laundering Act (PMLA), India’s Financial Intelligence Unit (FIU), a division of the Finance Ministry, sent compliance show cause notes on December 28.Additionally, the government started blocking the URLs of “said entities that are operating illegally without complying.”CoinDesk was informed by a person with knowledge of the situation that the URLs for these exchanges are still operational in India despite the lengthy and ongoing paperwork required for this procedure.The individual stated that before taking any further action, the Indian government might wish to wait for the firms to reply to the notices.The apps continue to show on Google PlayStore. Apple India or the FIU could not be reached immediately for comment.

With the license, BitGo can continue to operate while waiting for a full permit, allowing it to offer digital payment token services to customers in the city-state. The top financial regulator in Singapore has given BitGo, a cryptocurrency custodial company, preliminary approval to apply for a Major Payment Institution (MPI) licence through a local organisation.

BlackRock (BLK) and ARK 21Shares both lowered the fees for their proposed exchange-traded funds (ETFs), joining other competitors who made reduction announcements yesterday, as the cryptocurrency sector anticipates that the U.S. Securities and Exchange Commission (SEC) will approve a spot bitcoin exchange-traded fund (ETF) as early as today. In a fresh S-1 filing on Wednesday,

According to the country’s Finance Minister Mehmet Şimşek, technical studies for developing crypto regulations are nearing completion and Turkey is in the “final stage,” CoinDesk Turkey reported on Wednesday. As part of larger attempts to remove itself from the Financial Action Task Force’s (FATF) grey list of nations whose anti-money laundering rules require strengthening, the

According to claims made by the U.S. Internal Revenue Service (IRS) on January 5, Rodney Burton was detained and charged by American authorities for allegedly scamming more than $7 million through a fictitious investment scheme.Court documents reveal that Burton, popularly known as “Bitcoin Rodney,” was accused of pushing the HyperVerse cryptocurrency investment fraud in Maryland.In June 2020, Hyperfund, HyperCapital, and HyperNation—other names for HyperVerse—were founded as an unincorporated business, according to the application. “A network of HyperFund promotors, in the District of Maryland and elsewhere, made fraudulent promotional presentations to investors and potential investors,” according to the filing by Andrew J. Accardi, a special agent with the IRS’s Criminal Investigations department. “HyperFund falsely claimed that investors who purchased ‘memberships’ would receive between 0.5% to 1% daily in

Updated documentation were filed on Tuesday by five potential issuers out of 13 that hope to introduce bitcoin (BTC) exchange-traded funds (ETFs) in the United States: BlackRock (BLK), VanEck, Invesco and Galaxy, ARK 21Shares, and Grayscale.The firms were included in the filings as potential issuers to whom the U.S. Securities and Exchange Commission (SEC) had sent comments within the previous day.Just hours after the companies filed documents outlining costs for their proposed products on Monday, CoinDesk earlier reported that the SEC provided comments to a group of potential issuers of the spot-bitcoin ETFs. Updated on Tuesday, the petition includes language that aims to prevent a conflict of interest between the ETF’s authorized participants and lessen the harm to shareholders in the case of collapse.Reducing the price they intended to collect from 0.59% to 0.39%, Invesco and Galaxy disclosed in their amended filing.With updates to their papers coming out in less than a day after the SEC’s answers, the most recent filings demonstrate an almost unprecedented level of interaction between the agency and potential issuers. Given that the SEC has until this Wednesday, January 10, 2024, to approve one of the petitions submitted by Ark and 21 Shares, it is widely anticipated that it will approve all of the applications this week out of a sense of justice.