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The third sale of Coinbase (COIN) stock by Cathie Wood’s investment management company, ARK Invest, has occurred this week. At Thursday’s closing price, 37,377 shares, or nearly $4.7 million, were sold. This week, ARK has sold about $15 million worth of COIN shares from its Next Generation Internet ETF (ARKW), in addition to sales on
Due to a possible user error that resulted in the largest-ever price paid for a transfer on the Bitcoin network, Bitcoin miner AntPool will reimburse a $3 million transactional fee that it handled last week. “On November 23rd, some users submitted 83 BTC as a gas fee,” AntPool said in a Thursday announcement. “The risk control system of ANTPOOL temporarily froze the fee when packaging the transaction.” In order to execute transactions on blockchains like Bitcoin, miners use enormous computational resources. Each time they successfully mine a “block,” they are rewarded with a set amount of money.Although it is not required, miners may decide to reimburse consumers for fees if the sums are exceptionally high. If the sender signs an on-chain message through another bitcoin transaction with the identical message, AntPool claimed it will confirm the sender’s identity. This will demonstrate ownership. According to on-chain data, AntPool collected 85.2163 BTC in fees for all transactions included in that mistaken transaction last Thursday in addition to the regular 6.25 BTC.Only a few minutes before to the transfer, the sender had set up their wallet, and of the 139.42 BTC that was initially transferred, only 55.78 BTC were received by the receiver.
The biggest corporate bitcoin (BTC) holder, Microstrategy (MSTR), increased its holdings in November by purchasing over 16,130 BTC, or about $608 million at current prices.According to a regulatory filing on Thursday, the software company founded by Michael Saylor purchased the bitcoin for approximately $593.3 million in cash at an average price of roughly $36,785 per.It currently has 174,530 BTC in it, purchased for roughly $30,252 apiece on average. The company’s efforts to acquire bitcoins have accelerated since the November transaction.MicroStrategy possessed 158,400 Bitcoin as of the end of October, having gained 6,607 Bitcoin from the start of the third quarter.It has now climbed its stakes by more than 10% in just one month.Additionally, MicroStrategy signed contracts with BTIG, Cowen & Company, and Canaccord Genuity to issue class A common stock valued up to $750 million.
An initial coin offering (ICO) portal should be considered by the city’s authorities, according to a suggestion made by the industry trade group Hong Kong Securities & Futures Professionals Association. ICOs are a kind of fundraising that gained popularity soon after Ethereum launched in 2015 and are comparable to initial public offerings (IPOs). Many of
The investment management company run by Cathie Wood, ARK Invest, recently sold an additional $5 million worth of Coinbase (COIN) stock in addition to purchasing $1.5 million in online bank SoFi Technologies (SOFI) and $2 million worth of shares in trading platform Robinhood (HOOD). Following the offload of 43,956 shares on Monday, the Ark Fintech
Dubai’s public register reveals that Fasset, a digital asset investment platform, has been granted permission to function in Dubai as a Virtual Asset Service Provider (VASP), enabling it to cater to institutional, qualified, and retail investors. A provisional permit, a preparatory licence, and an operating licence are the three steps involved in obtaining a full
Early in the upcoming year, Abu Dhabi will see the launch of a digital equities brokerage service by cryptocurrency custody and trading startup Copper, the company announced on Wednesday.The Financial Services Regulatory Authority (FSRA) of the emirate is collaborating with Copper Securities, the new company providing execution and custody services, to ensure that the required licenses are in place by the beginning of 2024. The transfer has been made easier by Copper’s recent acquisition of Securrency Capital, an Abu Dhabi-based branch of the tokenization platform for cryptocurrencies that was not part of the Depository Trust & Clearing Corp.’s (DTCC) October acquisition of Securrency Inc. Copper has joined the increasing number of cryptocurrency companies who are turning to the United Arab Emirates because it provides more legislative clarity for digital assets than many other countries.Referring to Abu Dhabi as “the capital of capital,” Copper CEO Dmitry Tokarev highlighted the region’s amassing of institutional wealth. “Abu Dhabi is more institutional and more focused around asset management, and that’s exactly what Copper is; we only have institutional clients,” Tokarev said in an interview. “While there isn’t a huge retail market here, you will find all the big institutions, hedge funds and sovereign wealth funds.” The movement by banks and asset managers to tokenize traditional financial assets is causing a progressive convergence of blockchain technology and traditional financial (TradFi) plumbing. Over the course of the upcoming year, Copper Securities expects to launch securities financing, lending, and payment apps in addition to providing automated processing of corporate activities, settlements, top-ups, and rebalancing.
A collaborative effort between central banks has demonstrated that using national digital currencies for payments can still protect privacy.The Bank for International Settlements’ (BIS) Innovation Hub in Switzerland is investigating payer anonymity with central bank digital currency (CBDC) under Project Tourbillon.The central banks examined payment methods where customers can make purchases without disclosing personal information to any third party, including the retailer, according to a project final report released on Wednesday.To lessen tax avoidance and illegal payments, the merchant’s identity would be given to their bank at the time of payment. Privacy has become a major public worry as countries all over the world ponder issuing digital versions of their national currency. “Privacy is an important user requirement but it is the most difficult to solve. The difficulty lies in ensuring privacy protection technologically rather than just promising it, and at the same time ensuring that such a high level of protection cannot be abused,” Thomas Moser, alternate governing board member at the Swiss National
According to reports, the center of a significant fraud scandal in Turkey is the cryptocurrency exchange that supports Hull City, a soccer team that plays in the Premier League.As part of an investigation by the Istanbul Büyükçekmece Chief Public Prosecutor’s Office, 25 people were detained, including Yavuz Usta, the proprietor of the exchange platform Tomya, CoinDesk Turkey reported on Wednesday. Despite the lack of specific accusations against Tomya, the subject is gaining attention in Turkey due to the company’s association with Hull City, owned by well-known local media figure Acun Ilıcalı. The nation is getting ready to draft crypto laws, so details about the inquiry are starting to surface.Turkey has sentenced the owners of Thodex, a cryptocurrency exchange that abruptly failed in 2021, to 11,196 years in prison.The adoption of cryptocurrencies in the nation hasn’t slowed down in spite of the Thodex controversy. It appears that Musa Ekmekçioğlu, an investor, filed a complaint that started the Tomya probe.He said that someone he was introduced to by a Tomya employee conned him out of $211,500.According to CoinDesk Turkey, in addition to Usta, a consultant who briefly collaborated with Tomya was also taken into custody.
The United Kingdom government issued guidelines on how to pay any unpaid income taxes or capital gains on Wednesday and urged cryptocurrency users to voluntarily disclose any such amounts in order to avoid penalties. Exchange tokens such as bitcoin (BTC), non-fungible tokens (NFTs), and utility tokens should all be included in the tax disclosures as
According to a source familiar with the agreement, Spanish financial behemoth Santander has chosen cryptocurrency safekeeping technology company Taurus to develop a self-custody model for digital assets. The news last week featured Santander Private Bank announcing that live trading in bitcoin (BTC) and ether (ETH) was accessible to customers with Swiss accounts. In February, Deutsche
Germany’s financial watchdog, BaFin, has mandated that ADE, a Bitcoin Group subsidiary, rectify certain inadequacies in its internal anti-money laundering protocols. In an October notice sent to the group’s Futurum Bank subsidiary and made public on Tuesday, the regulator stated that it had discovered “serious deficits” in the system for reporting suspicious activity, due diligence
According to former Governor of the Bank of Spain Miguel Fernández Ordóñez, a digital euro is a safe asset that may help eliminate bank crises or deregulate banks entirely.During a public hearing organized by the European Parliament’s Committee on Economic and Monetary Affairs to deliberate on a possible central bank digital currency (CBDC), Ordóñez stated that the use of risky assets such as bank deposits—which aren’t actual money but rather promises of repayment—was the cause of the last two major global economic crises. “Digital euros are euros, but bank deposits are not euros. Deposits are just promises to pay euros, and if banks can’t fulfill those promises, then you get crises emerging,” he said, adding that a CBDC would have the benefit of stability, justifying the use of the digital euro instead of bank deposits. The possibility that CBDCs could jeopardize the stability of the banking industry by incentivizing clients to take their deposits and convert them into CBDCs is one of the main worries surrounding them.Large enough withdrawals have the potential to cause a liquidity crunch and other issues for the whole economy.The European Union’s plans for a digital euro suggest individual holding limitations as a way to reduce such a risk.Legislators and the general public have also criticized the ideas due to privacy and other issues. Ordóñez continued, stating that a digital euro might help deregulate banking activities totally. Ordóñez was one of four experts testifying at the Tuesday session.
Two years after the coronavirus pandemic, when people allegedly beat lockdown boredom by gambling millions in frivolous digital assets, the adoption of joke cryptocurrency dogecoin (DOGE) is still growing. According to data monitored by on-chain analytics company IntoTheBlock, the quantity of cryptocurrency addresses holding DOGE has exceeded 5 million for the first time. In the
A recent announcement stated that Australian cryptocurrency exchange Swyftx and blockchain analytics company TRM Labs have teamed up to fight scams in the country. Australian cryptocurrency users who enable two-factor authentication on their accounts will receive payment in the amount of AUD 10 (USD 6.6) in Bitcoin as part of the program’s trial run, which
Negotiations have begun between Kronos Research, a Taipei-based cryptocurrency trading and investment firm, and the hacker who stole $25 million from the company’s treasury earlier this month. Send back 90% of the funds that were taken, and we’ll close this case, Kronos wrote to the hacker, according to Etherscan show. The Taiwanese trading and venture
According to Reuters on Monday, the Tron blockchain has surpassed Bitcoin as the cryptocurrency network most liked by organizations like Hamas and Hezbollah, who are classified as terrorist organizations by the United States, the United Kingdom, and other jurisdictions.According to Reuters’ investigation, there has been a noticeable increase in cryptocurrency seizures from Tron wallets and a decrease in those from Bitcoin wallets since 2021. Two-thirds of all seizures from Tron wallets since July 2021 have occurred in Israel, where 87 of them have occurred so far this year.These were 39 wallets from Hezbollah, based in Lebanon, and 26 wallets from Palestinian Islamic Jihad, an affiliate of Hamas, which the nation claimed to be its owner in June and July, respectively. “Earlier it was Bitcoin and now our data shows that these terrorist organizations tend to increasingly favor Tron,” Mriganka Pattnaik, CEO of blockchain analysis firm Merkle Science, said. A spokesman for Tron, Hayward Wong, responded to the report by telling Reuters that all technologies might “in theory be used for questionable activities,” stressing that Tron had no control over who used its network.
As the first bitcoin hedge fund to receive a license from Dubai’s Virtual Assets Regulatory Authority (VARA), Nine Blocks Capital Management is taking pride in this fact.Additionally, the hedge fund said on Monday that Dubai will become its global headquarters.Due to a thorough set of regulations covering everything from advertising to issuance and exchange services, a thriving community of cryptocurrency firms has established itself in Dubai, seemingly a world apart from the obscurity and unpredictability of U.S. regulations. “I think what’s interesting is that VARA has really created an ecosystem for crypto in Dubai,” Nine Blocks co-founder Henri Arslanian said in an interview. “Many of our hedge fund’s counterparties are one minute walk away from my office. Everybody is in this one square kilometer, which makes it easy to meet up, have
The announcement that HSBC, one of the biggest banks in the world, is collaborating with Metaco, the Swiss digital asset custody company that Ripple acquired earlier this year, soon made a lot of the “XRP army,” the supporters of the U.S. fintech ledger protocol, happy. Seen by ardent supporters as another indication that financial institutions
The Grayscale Bitcoin Trust (GBTC) saw more sales last week from Cathie Wood’s ARK Invest, which sold 163,722 shares for $5.02 million at closing prices. The investment vehicle’s discount to its net asset value also shrank to its lowest level in over two years. Based on the closing share price of the relevant day, the
Events surrounding the cryptocurrency exchange Binance has generated a lot of discussion over the US government’s crackdown on cryptocurrency companies. Omid Malekan, a writer and adjunct professor at Columbia Business School, claims that the American Department of Justice’s strategy in this case is very different from conventional financial practises. Malekan posted on X (formerly Twitter):
A traditional bullish continuation setup could see the price of XRP rise by more than 20% in the upcoming weeks. After a significant increase, the price consolidates inside a parallel channel, forming the so-called bull flag pattern. It ends when the price climbs to the height of the prior upswing and breaks over the upper
The proposal narrowly passed with 41.1% of votes in favour and 38.5% against, the highest voter turnout in the Cosmos ecosystem. The Cosmos Hub governing body has approved a plan to lower the maximum rate of inflation for its native token, ATOM, from about 14% to 10%. According to the proposal, Atom’s annualised staking yield
In order to ensure that it complies with local regulations, cryptocurrency exchange Zipmex has announced that it has suspended trading in Thailand. In an effort to comply with regulations, cryptocurrency exchange Zipmex has announced that it is taking immediate action and suspending all digital asset trading in Thailand. In accordance with regulatory requirements set forth
Investment managers in the UK are moving away from traditional record-keeping systems by using blockchain technology to tokenize funds with regulatory support. The Investment Association stated in a recent research that the financial industry will become more transparent and efficient as a result of fund tokenization, which is the process of issuing tokenized units or
Arthur Hayes, a co-founder of BitMEX, is optimistic about Bitcoin. Hayes discussed his ideas about X. Hayes called US Treasury Secretary Janet Yellen “Bad Gurl Yellen” in front of a graphic showing changes in net reverse repurchase agreement (RRP) and Treasury general account (TGA) balances. Hayes urged other Bitcoin supporters to remain focused in the
According to a Nigerian Police Force spokesman, politician Wilfred Bonse has been taken into custody for pilfering, converting cryptocurrency wallets, and illegally diverting funds away from Patricia Technologies. Wilfred Bonse, a politician, has been arrested by the Nigeria Police Force (NPF) for allegedly stealing over 200 million naira ($246,153) from Patricia Technologies’ cryptocurrency wallet. The
Changpeng “CZ” Zhao, the former CEO of Binance, has refuted claims made by the U.S. Department of Justice that he poses a flight risk and might not return before his sentencing in the following year. In the wake of his guilty plea, former Binance CEO Changpeng “CZ” Zhao has resisted attempts by the US government
The Securities and Futures Commission (SFC) has approved Hong Kong investment company Victory Securities (8540) to provide cryptocurrency services to retail customers.Victory Securities said in a statement on Friday that it is the first authorized company to provide retail investors with cryptocurrency trading and advising services. It now works with crypto-native companies OSL Digital Securities and HashKey Exchange. In an indication that the cryptocurrency economy is moving eastward and that Asian countries provide more certainty for businesses than they may find abroad, like the U.S., Hong Kong earlier this year established a legislative framework allowing the offering of bitcoin services to civilian investors. Victory is an application on the SFC’s list of virtual asset trading companies.By press time, CoinDesk has not heard back from the SFC after contacting them for clarification.
On November 22, the attacker who made off with $50 million received a message from the decentralised autonomous organisation (DAO) running the KyberSwap decentralised exchange (DEX) saying, “We want to negotiate. The attack was directed at the liquidity pools (LPs) of KyberSwap. Prior to the attack, the DEX had a total value locked (TVL) of
