Bitkey, a self-custody bitcoin wallet, is now available for pre-order in more than 95 countries thanks to a fintech company founded by Jack Dorsey, Block (SQ). Block revealed on Thursday that Bitkey consists of a set of recovery tools, a hardware device, and a mobile app.  Customers can use the app on their phone to

According to an English court document, Craig Wright’s Tulip Trading must demonstrate that it is the rightful owner of the approximately 110,000 bitcoins (BTC) that are at issue in a 2021 lawsuit brought against a consortium of bitcoin developers. The developers, in that scenario, are contesting Tulip’s lawsuit on the grounds that they improperly declined

Bangalore, India — One of the “Big Four” accounting firms, Deloitte, has a division that specialises in providing supply-chain and logistics services for the shipping industry. Kilt, a blockchain platform built on Polkadot, will be utilised for this purpose. During a fireside chat at India Blockchain Week, Ingo Rube, the creator of the KILT Protocol,

21Shares, a cryptocurrency exchange-traded product (ETP) company based in Switzerland, acknowledged the departure of its chief operating officer in an email.Before joining 21Shares in September 2020, Lucy Reynolds served as head of product management at WisdomTree Europe, where she was a member of the executive team. “She has played a pivotal role in the evolution of our company and we are grateful for her contributions,” said a spokesperson for 21Shares in an email to CoinDesk. “This mutual decision has been in the works for over 6 months, and we have been collaborating together on the transition plan.” Due to poor demand, 21Shares closed six of its ETPs in March.The company website states that it continues to provide five funds in partnership with Cathie Woods’ ARK Invest. ARK/21Shares is one of several asset managers that have submitted applications for regulatory permission in the United States for a spot bitcoin exchange-traded fund. The Switzerland-based company was valued at $2 billion after raising $25 million in a fundraising round the previous year.

Due to the sudden and sharp increase in price of Bitcoin, investors are once again taking risks in the cryptocurrency market and investing heavily in joke cryptocurrencies such as dogecoin (DOGE).According to TradingView-tracked data, DOGE, the most popular cryptocurrency worldwide, has increased in value by more than 10% in the last day, trading above $0.10 for the first time since April.The price has increased by 27% in the last seven days, seemingly in line with the rise of bitcoin from $38,000 to $44,000. According to analytics source CoinGlass, the notional open interest—the dollar amount locked in the number of active futures and perpetual futures contracts—tied to DOGE has increased by 58% to $625 million in just one week, hitting a level not seen since Nov. 2, 2022.It is believed that rise and a growing price support the uptrend.Velo Data data reveal that funding rates on a number of exchanges have increased to an annualized 50% or higher, suggesting a significant premium in perpetual futures over spot prices.Positive rates represent the general optimism among investors that prices will likely rise and show a preference for long, or bullish, bets. Joke cryptocurrencies are high-beta investments that have a tendency to move more or less in the same direction as bitcoin.Stated differently, they act like leveraged bets on the biggest cryptocurrency.Because DOGE’s excessive positive activity in relation to bitcoin is a sign of speculative froth, which is frequently seen near the end of a market-wide bullish trend, investors should be cautious. With the DOGE/BTC ratio still at bear market lows, DOGE’s most recent increase, while spectacular, isn’t necessarily an indication of excessive greed.This ratio quickly spiked, predicting both the market-wide panic brought on by FTX in November 2022 and Bitcoin’s peak above $60,000 in April 2021.

It’s dog token season again, and a few well-known tokens are giving their owner double returns.A financial inflow to the Solana blockchain and a growth in riskier bets on tokens based on the network have caused Bonk, a token with a Shiba Inu motif that was first launched last December, to return almost 1,000% in the previous month. Following dogecoin (DOGE) and shiba inu (SHIB), bonk has surged more than 70% since Sunday, making it the third-largest token with a dog theme.Its market value of $500 million now exceeds that of BabyDogeCoin ($350 million) and floki (FLOKI) by $400 million. Although bonk was once designed as a meme coin, the Solana ecosystem quickly embraced it.In the weeks following launch, several Solana projects implemented “burn” methods for NFT-based events, while others integrated the token for use as payment for NFTs.According to what CoinDesk previously learnt from one of the various developers, Bonk is a group of 22 people without a single leader who were all involved in the project’s beginning.Each has already developed non-fungible tokens (NFT), decentralized applications (dapps), and other similar goods on Solana. The Solana ecosystem has garnered significant attention, which appears to have increased the token’s appeal since October.The amount of trading volume reached $80 million on Tuesday, which is ten times more than the $8 million daily average at the beginning of November.Data indicates that in tandem with the token’s price increase, traders have also opened highly leveraged bets.From less than $10 million at the beginning of November, open interest, or the total amount of unfilled futures positions, surged to $100 million on Tuesday. CoinGecko data reveals that other tokens with a dog theme have also appreciated during the last day.SHIB increased 10% and DOGE increased 16%.Conversely, FLOKI dropped after investors cashed in following a 25% increase on Tuesday.

The Worldcoin Foundation, a nonprofit organisation dedicated to advancing the Worldcoin protocol, revealed the details of its $5 million “Wave0” community grants programme on Wednesday. A draught press release states that the grants are intended to provide developers on Worldcoin with a “focus on building resilient technology and more equitable systems.” The Worldcoin protocol is

Cathie Wood’s ARK Invest recently sold $33 million worth of Coinbase (COIN) stock after the cryptocurrency exchange’s shares, based on the day’s closing price, reached a 19-month high on the strength of bitcoin’s (BTC) most recent surge. Over three separate exchange-traded funds (ETFs)—Innovation (ARKK), Next Generation Internet (ARKW), and Fintech Innovation (ARKF)—ARK sold a total

The euro stablecoin EUR Coinvertible (EURCV) of Societe Generale (GLE) is now trading on Bitstamp, a cryptocurrency exchange based in Europe. Developed by SG Forge, the French bank’s cryptocurrency division, the Ethereum-based stablecoin was introduced in April to provide institutional clients with a way to connect traditional capital markets and digital assets. The asset management

Attending a Financial Times event on Tuesday, Superintendent Adrienne Harris stated that the New York State Department of Financial Services (NYDFS) is not hesitant to take enforcement action against cryptocurrency companies that violate its regulations. Several of the most well-known figures in cryptocurrency have faced action from the authorities.Because it permitted users to create accounts without completing adequate background checks, the Coinbase (COIN) exchange was hit with a $50 million punishment by the NYDFS in January.Due to alleged violations of cybersecurity and anti-money laundering laws, trading site Robinhood (HOOD) was fined $30 million last year. “So we’ve really spent a lot of time doing what I call when I first came into office, a tone reset, to say you are regulated, here are the expectations, here are the rules, and when you don’t follow them, we will bring enforcement actions,” said Harris. Recently, the cryptocurrency exchange Binance and US officials came to a historic agreement to resolve accusations that Binance served US customers without the necessary authorization and permitted people to conduct business with clients in prohibited areas. “We’ve been talking about the

According to Reuters on Tuesday, the cryptocurrency business is expected to spend a record amount on lobbying in the United States this year.According to a study citing statistics by OpenSecrets, cryptocurrency corporations spent $18.96 million on lobbying by the end of the third quarter, up from $16.1 million in the same period previous year. With $2.16 million spent as of 2022, cryptocurrency exchange Coinbase (COIN) is the largest spender.Other large spenders include the blockchain association, Binance, and the owner of Crypto.com, Foris DAX.CoinDesk reached out to all of the organizations, but none of them responded right away. One of the biggest spenders last year was the defunct cryptocurrency exchange FTX.The statistic for this year implies that other cryptocurrency companies might have increased their endeavors to rectify the harm inflicted by the abrupt collapse of the exchange, in which founder Sam Bankman-Fried was found guilty of deception last month.Additionally, this year has seen the U.S. Securities and Exchange Commission (SEC) file lawsuits against cryptocurrency exchanges for breaking securities laws and delaying the industry’s licensing of an exchange-traded fund (ETF) for spot bitcoin.

In a recent application to the U.S. Securities and Exchange Commission (SEC), BlackRock (BLK), the investment behemoth, disclosed that it had received $100,000 as “seed capital” for its proposed bitcoin (BTC) exchange-traded fund. According to the filing, “the seed capital investor agreed to purchase $100,000 in shares on October 27, 2023, and on October 27,

Following the cryptocurrency’s surge to $42,000 over the weekend, the president of El Salvador announced on the X platform early on Monday morning that his nation’s bitcoin (BTC) investment was now profitable by more than $3 million. “We have no intention of selling; that has never been our objective,” he stated. “We are fully aware

In India, the Financial Intelligence Unit (FIU) has registered up to 28 Virtual Digital Assets (VDA) or cryptocurrency service providers. In a written response to a query on Monday, Indian Minister of State for Finance Pankaj Chaudhary informed the Lower House of Parliament. The Financial Intelligence Unit (FIU), India’s anti-money laundering unit, and other procedures

Crypto.com announced in a press release on Monday that it has been granted permission to function as an electronic money institution in the United Kingdom. According to the company, it will offer e-money products in the United Kingdom using the new licence it received from the Financial Conduct Authority. In August of last year, the

On December 3, Bitcoin remained near the $40,000 threshold as gains over the weekend confirmed a “strong” upswing. A new BTC price spike was tracked by data from TradingView and Cointelegraph Markets Pro, pushing BTC/USD to all-time highs of $39,730 in 2023.These strengthened the upward trend that had begun a few days before, when Bitcoin touched $39,000 for the first price since the middle of 2022.In light of derivatives, observers had suggested that spot purchases would need to increase in order to sustain momentum as the Wall Street trading week came to a finish.The final course of events was unexpected, with a sudden spike in Bitcoin and other cryptocurrencies wiping out earlier resistance.Popular trader Skew implied that “someone just ran all shorts across the board seemingly on most pairs” during coverage on X (previously Twitter). As a result, the behavior of the price of bitcoin around the weekly open came into question. CME Bitcoin futures ended the week at $39,225, which left a gap between it and the spot price that would typically be “filled” by a decline.However, fellow trader Daan Crypto Trades forecast that things would be different this time after analyzing the current situation. “Whenever $BTC is in a strong trend (up or down) and especially when it’s trading at yearly highs or price discovery. You tend to have these weekend moves that break out and leave a lot of people behind. Often creating a gap that never gets closed or not until weeks later,” part

A major participant in the digital asset management space, Grayscale has voiced excitement on the possibility of turning its Grayscale Bitcoin Trust (GBTC) into a Bitcoin exchange-traded fund.The current 8.09% discount, which is worth over $1.89 billion, might be removed by this action, bringing GBTC’s price more in line with Bitcoin’s true value and providing investors with major gains.Chief finance officer Edward McGee and chief legal officer Craig Salm of the corporation disclosed the information.Subject to US Securities Exchange Commission permission, GBTC plans to move from OTCQX, its existing platform, to the prestigious NYSE Arca exchange.This action aims to establish a more convenient way for investors to create or redeem shares, as well as to better synchronize GBTC’s shares with the actual Bitcoin price. The significant reliance on Regulation M (Reg M) relief was noted by Bloomberg ETF analyst Eric Balchunas.Although he doesn’t explicitly say so, he makes reference to earlier discussions that seem to indicate the SEC may utilize Reg M to obstruct or delay certain operations.Balchunas draws attention to the curious timing of Grayscale’s meeting with the SEC, immediately following which Regulation M was brought up, suggesting that the SEC may have given it some thought or considered its implications. Given that Bitcoin is currently trading at $39,481 and that there has been a spike in trading volume, which suggests increased trader interest, the possibility of a spot Bitcoin ETF guarantees investors a more accurate representation of the value of Bitcoin through GBTC and creates a safer channel for institutional investors to interact with Coins.Bitcoin’s value has already increased by 3% as a result of this event in the previous day, and the extraordinary spike in trading activity that has followed indicates that there is broad interest. James Seyffart, a Bloomberg ETF analyst, stated in a tweet on X (formerly Twitter) on November 28 that the SEC postponed making a decision on the applications for thirty-four days, exceeding the deadline of January 1, 2024.By January 10, 2024, Seyffart and his colleague Eric Balchunas had estimated that there would be 90% chance of spot Bitcoin ETF approvals. The two delays, in Seyffart’s words, “all but confirms for me that this was likely a move to line every applicant for potential approval by the Jan 10, 2024 deadline.”

Bitcoin ETFs are expected to take the place of the disorganised entry points that have been tarnished by gaudy cryptocurrency marketing campaigns since 2017, according to Cory Klippsten, CEO of Swan Bitcoin. Since 2017, spot Bitcoin exchange-traded funds (ETFs) have been the first point of entry for many people into the cryptocurrency space. However, Cory

Bybit’s market share increased continuously, while Coinbase’s growth was more notable outside of US trading hours, according to Kaiko Research. After US regulators and cryptocurrency exchange Binance reached a significant multi-billion dollar settlement last week, an on-chain data analytics company revealed a spike in Coinbase’s market share. A $4.3 billion settlement was reached on November

Leading cryptocurrency exchange Kraken and the United States Securities and Exchange Commission (SEC) are engaged in a legal battle that appears to be another misguided attempt by the SEC to impose control over a sector that fundamentally defies an antiquated regulatory playbook.In its November action, the government charges Kraken with conducting business as an unregistered securities exchange.The case goes beyond the SEC’s previous missteps.It’s also an obvious case of overreaching regulation that misses the mark on what makes a cryptocurrency.It is similar to the agency’s efforts against Coinbase, indicating a strong regulatory approach that is ineffective and harmful.The SEC claimed that Coinbase was functioning as an unregistered securities exchange in its lawsuit against the company.The method essentially misinterprets what cryptocurrencies are. This complaint goes beyond the SEC’s previous missteps.It’s also a clear example of overreaching regulation that misses the mark on what makes a cryptocurrency.It is reminiscent of the agency’s efforts against Coinbase, demonstrating an aggressive regulatory approach that is ineffective and harmful.Similar claims about functioning as an unregistered securities exchange were made by the SEC in its lawsuit against Coinbase.The strategy is based on a fundamental misunderstanding of the characteristics of bitcoin exchanges. Platforms like Kraken, in contrast to conventional securities exchanges, provide a wide variety of digital assets that don’t easily fit under the securities framework.The SEC’s incorrect classification of cryptocurrencies indicates a lack of knowledge of their distinct qualities, which distinguish them from traditional securities as decentralized assets frequently possessing traits resembling currency. The lack of technical neutrality, which holds that legal systems should treat all types of technology equally and should not reward or penalize any specific one, is among the most notable problems.The SEC’s attempt to force cryptocurrencies into the traditional securities framework not only violates legal requirements but also exhibits a strong prejudice against digital assets.In addition to impeding innovation, this lack of neutrality unfairly singles out platforms that attempt to comply with regulatory requirements. Because of the SEC’s tough position, businesses may decide to relocate to more cryptocurrency-friendly jurisdictions outside of the United States.The United States may lose its status as a leader in technological innovation as a result of this tendency, known as regulatory arbitrage.The cryptocurrency market is international, and too restrictive laws in one nation only force companies to go, bringing their ideas and financial gains with them. Similar to how its measures against Coinbase turned out, the Kraken case is poised to serve as yet another illustration of the SEC’s inability to effectively oversee the cryptocurrency industry.In addition to being pointless, this vicious circle of aggressive and ignorant regulation damages the SEC’s reputation.It conveys the idea that the regulatory body is less concerned with comprehending and adjusting to new technological paradigms than it is with using its regulatory power. There is more to this case than a lone court struggle.It is a sign of a larger problem with the way cryptocurrencies are handled by the US regulatory system.It is imperative that the SEC abandon its antiquated strategies and interact with the cryptocurrency sector in a more knowledgeable and productive way.Regulation is essential, but it has to be sensible, informed, and intended to promote rather than inhibit innovation.The SEC appears to be headed for yet another crushing setback, which will only serve to highlight the necessity for additional regulations.

The committee’s report suggests lowering the retail digital pounds’ initial value caps in order to reduce the possibility of bank runs in the event of market volatility. Legislators in Britain are pushing for caution when it comes to introducing a retail digital pound. They emphasise how crucial it is to strike a balance between potential

Under the initial argument that DEBT Box was moving to Dubai, where it would be outside the purview of US regulations, the SEC, represented by lawyer Michael Welsh, was able to persuade the court to freeze the company’s assets. Regarding allegedly false statements made in a lawsuit against the cryptocurrency company Digital Licencing Inc., also

The award, which is intended to lessen the financial strain on impacted parties, will be equal to the USD value of the assets lost in the security breach. KyberSwap plans to reimburse users who were impacted by a major exploit that occurred on November 22 and resulted in a $48.8 million loss for the decentralised

According to Business Times on Thursday, the High Court rejected a bid to have Terraform Labs and its founder, Do Kwon, removed from the company’s legal protections, opening the door for a potential class-action case in Singapore.Citing the website’s rules of usage, Terraform lawyers attempted to reroute the case to an arbitration procedure, as reported by the Business Times.The attorneys maintained that users had forfeited their rights to a trial and to file a class-action lawsuit.In contrast, the court made a different decision. “To our knowledge, this is the furthest a class-action suit has progressed in the world,” Mahesh Rai, a director of Drew & Napier, which represents the claimants, said in an interview. “Now we are approaching discovery stage.” On behalf of 375 other people who allege they lost a total of $57 million, Douglas Gan and Julian Moreno Beltran filed the lawsuit in September 2022.The plaintiffs contend that in order for Terraform Labs, Do Kwon, and his co-founders to successfully market the algorithmic stablecoin terraUSD (UST), they engaged in fraudulent misrepresentation. As a result, they bought and staked the tokens and held onto them until UST’s value plummeted to less than $0.10 in May 2022. The Securities and Exchange Commission has also accused Terraform of fraud in the United States, claiming the company was offering unregistered securities for sale.Terraform requested the case’s dismissal in October, arguing that the regulator had not been allowed to present its case.

A KuCoin representative announced via email that the investment division of cryptocurrency exchange KuCoin will give the TONNE network a $20,000 grant to support ongoing ecosystem initiatives. “The first phase of our partnership involves a $20,000 grant, which will be allocated to five TON-based mini-apps,” a spokesperson said. “Meanwhile, we are in discussion with TONNE

During European morning hours on Friday, Bitcoin surged to $38,800 for the first time since May 2022, extending its robust multi-month upward trend supported by expectations of institutional demand. The asset increased by almost 3% in the last day, tracking a rise in stock markets around the world. Premarket trading saw a 0.17% increase in