Only 1% of consumers still think Bitcoin is a passing ‘fad’

Bitcoin and crypto are no longer seen as a fleeting “fad” among consumers — the majority now consider them an integral part of the financial system, Reuters reported on April 8, citing a Deutsche Bank survey. The survey gathered responses from 3,600 individuals and revealed a slow yet noticeable shift in consumer attitudes towards bitcoin...Read full story at CryptoSlate >

Swiss central bank believes retail CBDCs could destabilize financial system

Swiss National Bank (SNB) Chairman Thomas Jordan said the central bank “sees no need” to issue a central bank digital currency (CBDC) for public use despite the benefits of a wholesale version. Jordan argued that the current financial market offers a wide selection of efficient and innovative payment methods through the private sector, rendering a...Read full story at CryptoSlate >

Bitcoin’s latest rally driven by ‘huge accumulation’

Bitcoin’s (BTC) latest rally was driven by “huge accumulation” as investor appetite remains high despite five days of trading in the red over the past week, according to CryptoQuant research. Just three days ago, Bitcoin was trading at roughly $65,500 as markets closed on Friday. However, a sustained rally over the weekend took prices to...Read full story at CryptoSlate >

Exploring Bitget: The world’s up-and-coming crypto exchange

Bitget is a rapidly growing cryptocurrency exchange registered in Seychelles that has become the world’s largest crypto copy trading platform. Established in 2018, Bitget now serves over 25 million registered users globally and boasts an impressive $10+ billion USDT daily trading volume. With a global team of over 1,300 employees from 60 countries, Bitget is...Read full story at CryptoSlate >

BlackRock and Fidelity’s Bitcoin ETFs make history with record streak of inflows

BlackRock’s iShares Bitcoin Trust (IBIT) and the Fidelity Wise Origin Bitcoin Trust (FBTC) have broken another record by becoming two of the top 20 exchange-traded funds with the longest streak of continuous inflows of all time. Bloomberg ETF analyst Eric Balchunas observed on April 8 that the two spot Bitcoin ETFs have seen continuous inflows since...Read full story at CryptoSlate >

Sora Ventures, Metaplanet bet $6.5 million on Bitcoin to create ‘Asia’s first MicroStrategy’

Metaplanet, a Tokyo Stock Exchange-listed company, announced on April 8 that it has embraced Bitcoin as a core treasury asset. In an April 8 statement on social media platform X (formerly Twitter), Metaplanet said it was allocating ¥1 billion, approximately $6.56 million, to the flagship digital asset as part of its groundbreaking shift in its...Read full story at CryptoSlate >

Top Chinese mutual funds exploring Bitcoin ETFs via Hong Kong units

Leading Chinese mutual funds are actively exploring Bitcoin exchange-traded funds (ETFs) through their subsidiaries in Hong Kong, with adoption set to kick off within the second quarter once regulatory approval is secured, local media reported on April 8. The move marks a significant pivot toward crypto investment among firms in the region, which have avoided...Read full story at CryptoSlate >

Investor fervor for Bitcoin ETFs cools despite $646 million weekly surge in crypto funds

Crypto-related investment products continued their upward trajectory, recording inflows of $646 million within the past week, according to CoinShares‘ weekly report. This inflow brings the total for the year to an unprecedented $13.8 billion, propelling the total assets under management to a staggering $94.47 billion. Bitcoin ETF hype moderating Trading volume for crypto investment products...Read full story at CryptoSlate >

Nigerian court orders Binance executive to remain in prison despite not guilty plea

A Nigerian High Court in Abuja ordered that the detained Binance executive Tigran Gambaryan be remanded in prison following the postponement of his bail hearing. Gambaryan, a US citizen, pleaded not guilty to money laundering charges earlier today and will remain in custody until his bail hearing on April 18. The trial will commence on...Read full story at CryptoSlate >

Ethena’s USDe Bitcoin collateral exceeds $500 million in a week

Bitcoin collateral for Ethena’s USDe synthetic dollar has exceeded $500 million less than a week after its introduction. The platform’s website data showed approximately $537 million in Bitcoin reserves across various exchanges such as Binance, OKX, and Deribit. The amount represents roughly 26% of its total asset reserve. The other reserve assets include $714 million...Read full story at CryptoSlate >

Solana’s growing pains: Why 75% of non-vote transactions failed

Solana recently encountered a significant challenge with an unprecedented number of transaction failures. On Apr. 5, the network saw over 75% of its transactions fail, highlighting a critical issue for a network that has rapidly become a key player in the DeFi space, handling massive trading volumes. This surge in failed transactions raised concerns about...Read full story at CryptoSlate >

Marathon CEO hints at sovereign contributions to Bitcoin’s burgeoning hash rate

Quick Take The Bitcoin network is experiencing a remarkable surge in its hash rate, a crucial metric that reflects the computing power dedicated to processing transactions and maintaining the blockchain. According to the latest Glassnode data, the 7-day moving average hash rate has reached an astonishing 620 EH/s, nearing all-time highs. Notably, the upcoming difficulty...Read full story at CryptoSlate >

Rivalries among Ethereum layer-2s threaten the ecosystem’s future, says Polygon CEO

Polygon Labs CEO Marc Boiron believes that the intense rivalry between Ethereum layer-2 networks is the “biggest problem” facing the second-largest digital asset by market capitalization. In an April 7 post on social media platform X, Boiron emphasized how the competition between these networks has led to Ethereum cannibalizing itself continuously. He explained: “Ethereum’s biggest...Read full story at CryptoSlate >

Coinbase Bitcoin holdings plummet by 85,000 BTC in 30 days, second biggest on record

Quick Take Glassnode data reveals a substantial decrease in Bitcoin (BTC) holdings on the Coinbase exchange. Over the last 30 days, a notable 85,000 BTC have been withdrawn from the platform, marking the second-largest net outflow on record for a 30-day period. This mirrors a similar occurrence in March 2021, when 86,000 BTC left Coinbase....Read full story at CryptoSlate >

Bitget launches crypto Apprentice program to train next generation of web3 talent

Crypto exchange Bitget unveiled its new Web3 leadership program called “Bitget COO Apprentice” in Europe, offering young talent an opportunity to work directly with the company’s executive team and gain hands-on experience in the industry. Per the announcement, the internship falls under Bitget’s Blockchain4Youth initiative and aims to provide participants with deep insights into the...Read full story at CryptoSlate >

Bitcoin opens week soaring past $70,000 igniting $115 million in market liquidations

Quick Take Bitcoin has surged past $70,000, reaching a peak of $70,800, with a notable 7% increase in the last five days. Coinglass data reveals over $115 million in liquidations in the digital asset market within the last 24 hours, primarily from short liquidations. In the past hour alone, the digital asset market has seen...Read full story at CryptoSlate >

Tornado Cash developer gets help in court from blockchain advocacy groups

Three blockchain advocacy groups have filed amicus curiae briefs on April 5 to defend Tornado Cash developer Roman Storm from criminal charges in the US. The filings support Storm’s motion to dismiss the charges against him and present several arguments to ensure developers are protected from such legal action. The Blockchain Association said the government’s...Read full story at CryptoSlate >

Jury finds Do Kwon, Terraform Labs liable for multi-billion dollar fraud

Following a nine-day trial, a jury found Terraform Labs and its co-founder Do Kwon liable for defrauding investors who lost billions when TerraLUNA collapsed in 2022. The SEC announced the verdict on April 5 in a press release. The regulator emphasized that the verdict holds both parties accountable for a “massive crypto fraud” that caused...Read full story at CryptoSlate >

FTX discount sale of $1.9 billion in Solana faces creditor fury

FTX creditors have strongly disapproved of the bankrupt crypto exchange’s decision to sell its Solana holdings at a significant discount to crypto venture firms. Earlier today, reports revealed that FTX offloaded as much as 30 million SOL at a rate of $64 each to VC firms like Pantera Capital and Galaxy Trading. The move is...Read full story at CryptoSlate >

Top 5 Projects Leading the AI-Crypto Narrative in 2024

The intersection of blockchain and artificial intelligence has become significant in the first quarter of 2024. We’ve seen Crypto-AI projects go from relative obscurity to digital notoriety (at least on X). Astronomical price actions have followed, with select projects multiplying in value far beyond expectations. Glamorous technology and cryptocurrency events, such as Nvidia’s GTC conference,...Read full story at CryptoSlate >

Coinbase stands strong in consumer lawsuit as case is revived post-appeal

Coinbase chief legal officer Paul Grewal responded to a legal development that has revived a consumer lawsuit against the US-based crypto exchange that was dismissed in 2023. On April 5, Grewal said companies such as Coinbase have no private liability for the secondary trading of crypto tokens because “contracts matter.” Grewal cited a decision from...Read full story at CryptoSlate >

Montenegro Supreme court once again blocks Do Kwon’s extradition

The Supreme Court of Montenegro has overturned earlier rulings regarding the extradition of Terraform Labs co-founder Do Kwon and has ordered a new review of the case on April 5. The decision calls for the High Court in Podgorica to re-examine the extradition requests it previously addressed in an expedited manner. The Supreme Court’s decision...Read full story at CryptoSlate >

Bitcoin Cash hits new peak since 2021, sparking debate over Bitcoin’s next move

Quick Take The recent Bitcoin Cash (BCH) halving has sparked a significant price rally, propelling the digital asset to its highest level since 2021. Based on CryptoSlate research, an intriguing pattern has been observed in the lead-up to this halving event, potentially holding implications for the broader digital assets market. In the months preceding the...Read full story at CryptoSlate >

SushiSwap proposes shift to ‘Labs model’ in DAO shake up amid social drama

SushiSwap’s head chef, Jared Grey, said the ongoing controversy surrounding the protocol’s proposed transition to a Labs model is primarily driven by “former contributors who like to propagate endless FUD and misinformation.” The controversial proposal On March 26, a proposal titled Evolving Sushi—Burū no Shinka was submitted to allow Sushi to adopt a Labs model...Read full story at CryptoSlate >

Bitcoin’s growing status as ‘digital gold’ set to attract new investors

As the Federal Reserve maintains a cautious stance on interest rate cuts, Bitcoin’s emergence as a ‘digital gold’ has garnered increased investor attention, setting the stage for heightened adoption expectations, Coinbase said in its latest market research on April 5. Institutional Research Analyst David Han believes Bitcoin’s growing status as digital gold will attract new...Read full story at CryptoSlate >

Even crypto friendly UK banks freeze accounts in fear of crypto transactions

There has been an increase in bank accounts belonging to crypto professionals being frozen or restricted across the UK, US, and EU over the past few months. They say you often don’t care about something until it happens to you; well, this week, it did. To my genuine surprise, it came from the one place...Read full story at CryptoSlate >

Grayscale drops Cardano and Cosmos from its crypto funds in quarterly rebalancing

Prominent crypto asset management firm Grayscale has removed two high-profile digital assets, Cardano and Cosmos, from its multi-asset funds as part of its quarterly fund rebalancing. In an April 4 press statement, the firm revealed that it removed Cardano from its Grayscale Digital Large Cap Fund (GDLC) and Cosmos’s ATOM token from the Grayscale Smart...Read full story at CryptoSlate >

MicroStrategy thrives on Bitcoin strategy while Tesla left over $1 billion on table as stock slips

Quick Take As the digital assets market continues to evolve, two prominent US-based companies have taken vastly different approaches to their Bitcoin investments, with starkly diverging outcomes. MicroStrategy, a business intelligence firm, made its first Bitcoin purchase in August 2020 when the asset was trading at around $10,000. Since then, the company has steadily accumulated...Read full story at CryptoSlate >

BlackRock adds 5 new APs to spot Bitcoin ETF including Goldman Sachs, Citadel, Citigroup

BlackRock, the world’s largest asset manager, has today updated the list of Authorized Participants (APs) for its spot Bitcoin exchange-traded fund (ETF), IBIT. The ETF, which has been live since January 10, 2024, allows investors to gain exposure to Bitcoin without directly holding the digital assets. According to the latest prospectus, BlackRock has added five...Read full story at CryptoSlate >

Solana scrambles to tackle failed transaction surge and user complaints

Solana is working “around the clock” to fix its current issues, which include the proliferation of failed transactions on the network. In an April 4 tweet on X, Raj Gokal, the network’s co-founder, revealed that the network was working to improve users’ transaction experience. He said: “World class engineering teams are working around the clock...Read full story at CryptoSlate >

Grayscale GBTC ETF records third consecutive double-digit low outflow

Quick Take Farside data reports that Bitcoin (BTC) exchange-traded funds (ETFs) continued to see strong inflows, with a collective net inflow of $106.8 million on April 4. This marks the third consecutive net inflows, adding to seven out of the last eight trading days with net inflows. Farside data reports the Grayscale GBTC fund registered...Read full story at CryptoSlate >

Morgan Stanley, UBS on the verge of approving Bitcoin ETF exposure

Morgan Stanley and UBS are actively competing to become the first major banks to offer their clients access to spot Bitcoin exchange-traded funds (ETFs), according to people familiar with the matter. Sources said that Morgan Stanley wants to be the first major bank to offer its clients full access to spot BTC ETFs and will...Read full story at CryptoSlate >

ChatGPT enterprise users grow 4x to 600k in less than a year

OpenAI is experiencing higher-than-ever demand for its ChatGPT product among enterprise users. OpenAI Chief Operating Officer Brad Lightcap told Bloomberg on April 4 that the company has registered 600,000 individuals for ChatGPT Enterprise. Lightcap described the growth as “tremendous momentum” and called 2024 “the year of adoption for AI in the enterprise.” OpenAI has seen...Read full story at CryptoSlate >

Bitcoin mining market cap eclipses $20 billion as industry continues growing amid challenges

Quick Take The Bitcoin mining industry has reached a significant milestone, surpassing a market capitalization of $20 billion, now standing at $20.6 billion, according to Farside data. This milestone emphasizes the growing significance of public miners within the Bitcoin ecosystem, contributing approximately 28% of the global hash rate. They are valued at around 1.55% of...Read full story at CryptoSlate >

Binance executive remains detained as Nigerian court postpones case

Crypto exchange Binance, currently facing criminal charges in Nigeria, notably lacked legal representation at its April 4 court hearing in the African nation. Instead, the hearing was only attended by its compliance chief, Tigran Gambaryan, who the Nigerian government has detained since the end of February. However, despite expectations for the proceedings to advance, the...Read full story at CryptoSlate >

Ripple exec slams SEC’s ‘misguided war on crypto,’ demands accountability

Ripple’s Chief Legal Officer Stuart Alderoty has strongly criticized Gurbir Grewal’s, the Director of Enforcement at the Securities and Exchange Commission (SEC), comment about the crypto industry’s compliance efforts. At a recent SEC event, Grewal suggested that the emerging industry was utilizing various methods to evade the financial regulator’s oversight, such as relocating or registering...Read full story at CryptoSlate >

Circle CEO praises Ripple for launching own stablecoin on XRP

Jeremy Allaire, the CEO of stablecoin issuer Circle, has welcomed Ripple’s entrance into the market. Earlier today, crypto firm Ripple revealed plans to launch a stablecoin that would be 100% backed by US dollar deposits, government bonds, and cash equivalents. In response, Allaire said it was “encouraging to see more companies taking a compliance-first approach...Read full story at CryptoSlate >

How Grayscale GBTC sell-off has impacted Bitcoin long-term holder metrics

Quick Take The sell-off from Grayscale has had an interesting effect on well-known Bitcoin metrics, skewing data heading into the next halving. Examining the duration since bitcoins were last transacted on-chain, we can categorize them according to their “Supply Last Active” (SLA) period, spanning from 1+ years to 5+ years. This metric has historically been...Read full story at CryptoSlate >

Binance to end Bitcoin NFT support in marketplace within a week

Crypto exchange Binance said its non-fungible token (NFT) marketplace will discontinue support for Bitcoin NFTs by April 18, per an April 4 statement. According to the exchange: “Starting from 2024-04-18 06:00 (UTC), users will no longer be able to buy, deposit, bid on, or list NFTs on the Binance NFT Marketplace via the Bitcoin network....Read full story at CryptoSlate >

How Wormhole hacker almost profited from W token airdrop mishap

The malicious actor behind the infamous hack incident that stole over 80,000 ETH from Wormhole in 2022 was briefly entitled to receive an undisclosed amount of airdropped W tokens, pseudonymous blockchain researcher Pland revealed. In his social media post on X, Pland quipped: “Wormhole forgot to exclude the exploiter from the airdrop.” Degen News corroborated...Read full story at CryptoSlate >

Bitcoin faces 2024 volatility reminiscent of 2017’s rollercoaster ride

Quick Take In 2024, Bitcoin has encountered significant volatility, as highlighted by Glassnode, which recorded seven instances of daily price drops surpassing 5% since January. This turbulent journey bears a resemblance to the challenges faced in 2017, a year characterized by remarkable returns. During that period, Bitcoin witnessed approximately 35 instances of daily price plunges...Read full story at CryptoSlate >

Bringing Bitcoin to real world infrastructure through new Layer-2 DePIN partnership

Bitcoin-focused blockchain Elastos is partnering with the decentralized physical infrastructure networks (DePIN) network IoTeX on digital identity validation. However, the collaboration also aims to bring Bitcoin’s robustness and trust to the forefront of DePIN, marking a significant leap toward integrating digital and physical assets using Bitcoin. The partnership represents an effort to leverage Bitcoin’s Layer-2...Read full story at CryptoSlate >

Bitcoin Cash successfully completes halving, price leaps to its highest since 2021

Bitcoin Cash experienced a notable surge, soaring over 10% following the completion of the blockchain’s network halving. The digital asset, which has been on a consistent upward trajectory since the year began, has witnessed a remarkable 23% surge over the past week and an impressive 43% upswing in the last 30 days, according to data...Read full story at CryptoSlate >

Grayscale GBTC records lowest outflows since February at $75 million

Quick Take On April 3, Bitcoin (BTC) exchange-traded funds (ETFs) experienced a notable increase in net inflows, reaching $113.5 million, marking the most substantial daily net inflow since March 28. This surge was primarily fueled by Fidelity’s FBTC, which saw its highest net inflow since March 26, totaling $116.7 million. Consequently, FBTC’s total net inflows...Read full story at CryptoSlate >

Google eyes ‘premium’ AI features to revamp business model

Google is reportedly considering the introduction of paid “premium” features powered by generative AI to its search engine, The Financial Times reported on April 2. Sources close to the matter told the newspaper that Google is exploring the possibility of incorporating AI-enhanced search capabilities into its existing suite of premium subscription services. The suite already...Read full story at CryptoSlate >

VanEck predicts Ethereum Layer-2’s collective market cap will climb to $1 trillion by 2030

VanEck believes that Ethereum‘s Layer-2 protocols will hit a collective $1 trillion market capitalization by 2030, according to a new research report published on April 3. The prediction was revealed in a detailed analysis led by VanEck senior investment analyst Patrick Bush and head of digital research Matthew Sigel. VanEck’s forecast of a $1 trillion...Read full story at CryptoSlate >

SEC opens request for comments on 3 spot Ethereum ETFs

The SEC has opened comments on Grayscale, Fidelity, and Bitwise‘s applications to launch spot Ethereum exchange-traded funds (ETFs). The notices apply to proposed rule changes through which two exchanges — Cboe BZX and NYSE Arca — aim to list and trade shares of the three funds. Comments are open for 21 days following publication in...Read full story at CryptoSlate >

SEC director refutes narrative that regulator lacks regulatory framework for crypto

SEC Director of Enforcement Gurbir Grewal recently spoke at the SEC Speaks event, addressing the regulatory challenges the crypto industry faces. Grewal countered the narrative that the SEC lacks a clear regulatory framework for crypto, emphasizing the agency’s commitment to applying existing securities laws to the digital asset space. Refuting enforcement claims The regulator opened...Read full story at CryptoSlate >

Coinbase embraces Bitcoin Lightning network to speed up transactions

US-based crypto exchange Coinbase is finally integrating Bitcoin Lightning network after several promises by the exchange CEO Brian Armstrong. In an April 3 statement, Lightspark, a lightning network-based payment infrastructure provider, revealed that it was selected by the crypto exchange to facilitate the integration of Bitcoin Lightning Network. Under this partnership, Coinbase will leverage Lightspark’s...Read full story at CryptoSlate >

Cyprus’ 2013 banking crisis was Bitcoin’s origin as a safe haven asset

Quick Take During the 2013 Cyprus financial crisis, Bitcoin’s reaction provided an early indication of its potential as a “risk-off” asset and alternative safe haven. The instability in Cyprus’s banking system was attributed to lax regulation within the sector and overextension among property developers, as reported by The Guardian. Before the crisis escalated, on March...Read full story at CryptoSlate >

UK regulators launch sandbox to integrate DLT with financial system

The Bank of England (BoE) and the UK Financial Conduct Authority (FCA) have announced the launch of the Digital Securities Sandbox (DSS) on April 3. The new framework aims to facilitate the use of emerging technologies, such as distributed ledger technology (DLT), in issuing, trading, and settling financial securities. It will allow participating firms to...Read full story at CryptoSlate >

Nigeria and Interpol collaborate to extradite Binance executive amid money laundering charges

The Nigerian Government has engaged the International Criminal Police Organization, Interpol, to facilitate the extradition of Binance executive Nadeem Anjarwalla, who is currently on the run, as reported by local media outlet Punch. Meanwhile, Binance has urged the Nigerian authorities to release its other executive, Tigran Gambaryan, currently within their hold. The firm said: “Binance...Read full story at CryptoSlate >

Solana’s stablecoin supply surges past $3 billion, USDC leads the charge

Stablecoin supply on the layer-1 blockchain network Solana has increased steadily since the beginning of the year, crossing the $3 billion mark during the past week. Data from the blockchain analytical platform Artemis shows that the stablecoin supply on the network has increased by 55.72% in the last three months to reach $3.12 billion. Notably,...Read full story at CryptoSlate >

Despite Grayscale and ARK’s outflows, Bitcoin ETF market records net inflow

Quick Take Bitcoin (BTC) exchange-traded funds (ETFs) on Apr. 2 experienced a moderate net inflow of $40.3 million, according to Farside data. Particularly noteworthy is the Grayscale Bitcoin Trust (GBTC), which saw a relatively smaller outflow of $81.9 million, signaling a significant slowdown from previous outflows. GBTC has now totaled $15,152.0 billion in net outflows....Read full story at CryptoSlate >

Emotional trading patterns hit short-term Bitcoin holders’ wallets

Quick Take As Bitcoin’s price has surged roughly 50% since the beginning of 2024, data from Glassnode reveals a noteworthy pattern in behavior among short-term holders (STHs), defined as investors holding Bitcoin for less than 155 days, who tend to exhibit a pattern of fear and greed—buying high and selling low. Glassnode data shows that...Read full story at CryptoSlate >

KuCoin’s assets and market share slide amid legal woes and user withdrawals

Recent legal challenges with US authorities have resulted in a noticeable decline in user assets on KuCoin, according to the exchange’s latest proof-of-reserve certificate. According to the update, the exchange users’ Bitcoin holdings decreased 25.4% to 12,114 BTC in March, while Ethereum balances plummeted by approximately 22% to around 112,000 ETH. Similarly, the amount of...Read full story at CryptoSlate >

Data shows US government often sells at the local lows in the market

Quick Take On Apr. 2, CryptoSlate reported that the US government sold 1,999 Bitcoin (BTC), valued at approximately $130 million, from a wallet associated with Silk Road to the digital assets exchange Coinbase. As per Arkham Intelligence firm, only 1,999.999 BTC were spent in the transaction, leaving the remaining 29,799.99012413 BTC unspent. The recent transaction...Read full story at CryptoSlate >

US, UK enter agreement to develop AI safety standards

The US and the UK signed a Memorandum of Understanding (MOU) to develop standards for AI Safety on April 1. The agreement aims to develop and iterate “robust suites of evaluations” for AI models, systems, and agents through coordinated scientific approaches. The two countries will specifically conduct at least one joint testing exercise on a...Read full story at CryptoSlate >

Hut8 Mining CEO says Bitcoin’s coming halving will be on a ‘different scale’

Hut 8 Mining CEO Asher Genoot said the coming Bitcoin halving will be on a “different scale” in terms of impact on the mining industry. Genoot said during an interview with Bloomberg on April 2 that large scale miners must become “low-cost operators” to ensure they can survive the turbulent market conditions post-halving. He said:...Read full story at CryptoSlate >

Coinbase raises concerns about risks stemming from Ethereum restaking

A recent report by Coinbase has brought attention to the burgeoning restaking sector within Ethereum’s DeFi landscape, pinpointing a series of potential risks that could accompany its growth. While restaking has quickly become a critical component of Ethereum’s infrastructure, concerns surrounding financial and security vulnerabilities have emerged. Restaking challenges Restaking involves validators earning rewards by...Read full story at CryptoSlate >

Historical patterns repeat as Bitcoin declines before halving

Quick Take With the halving event looming roughly 18 days away, Bitcoin is showing a predictable downturn. It has dipped below $65,000, marking a 12% decline from its all-time high and nearly 10% lower since the beginning of April. In a pattern reminiscent of March, when Bitcoin reached its peak, it promptly retreated to around...Read full story at CryptoSlate >

US government moves 30,175 Bitcoin confiscated from Silk Road to Coinbase

The US government transferred 30,175 Bitcoin (BTC), approximately worth $2 billion, to a wallet linked to crypto exchange Coinbase on April 2. The move occurred amid a major dip in Bitcoin that took its price to a weekly low of $64,500 per BTC before bouncing above the key $65,000 support level. On-chain sleuth ZachXBT drew...Read full story at CryptoSlate >

Bitcoin surpasses tipping point – Hyper-Bitcoinization and the future of financial sovereignty

On the latest episode of the SlateCast, CryptoSlate welcomed Samson Mow, CEO and founder of Jan3, a pioneer in nation-state Bitcoin adoption. Mow, the man behind Aqua Bitcoin and the architect of the innovative Bitcoin bonds, joined Senior Editor Liam “Akiba” Wright and CryptoSlate CEO Nate Whitehill to discuss his vision of hyper-Bitcoinization. In this...Read full story at CryptoSlate >

Aave considers dropping DAI as collateral over contagion concerns from MakerDAO’s USDe move

Marc Zeller, the founder of the Aavechan Initiative, has proposed to the decentralized autonomous organization (DAO) overseeing Aave to remove DAI stablecoin’s collateral status within the protocol’s lending ecosystem. This move comes in response to MakerDAO’s proposal to allocate 600 million DAI into the fast-rising synthetic dollar USDe and staked USDe (sUSDe) through the DeFi...Read full story at CryptoSlate >

Polygon spin-off Avail partners with dWallet to bring programmable Bitcoin to Web3 rollups

Avail, a modular blockchain focused on unifying Web3 and optimizing data availability for scalable applications, has partnered with dWallet Network to introduce programmable native Bitcoin to rollups in the Avail ecosystem. Polygon co-founder Anurag Arjun spun off Avail from Polygon in 2023 into a separate entity. Avail was initiated within Polygon Labs in late 2020...Read full story at CryptoSlate >

FixedFloat reportedly suffers $2.8 million theft, Tether freezes $400,000 from attackers

Decentralized exchange FixedFloat’s Ethereum-based hot wallet saw several suspicious transactions that led to the withdrawals of $2.8 million during the past day, according to the Web3 security firm Cyvers. Following the news, stablecoin issuer Tether blocklisted ten addresses involved in these withdrawals, effectively freezing about $400,000 worth of USDT tokens, according to blockchain security firm...Read full story at CryptoSlate >

Bitcoin ETFs experience first outflow since March 22 at $85.8 million

Quick Take Data from BitMEX shows that the Bitcoin (BTC) exchange-traded funds (ETFs) saw a net outflow of $85.8 million, equivalent to 1,230.3 BTC, marking the first outflow since March 22. Grayscale’s GBTC continued to dominate the outflows, with $302.6 million, equivalent to 4,337.4 BTC, being withdrawn. GBTC has now seen a staggering $15,070.2 billion...Read full story at CryptoSlate >

Singapore revises Payments Service Act to include cross-border transfers

The Monetary Authority of Singapore (MAS) has significantly amended its Payments Service Act (PSA) to enhance its jurisdiction and bolster user protection within the crypto industry, according to an April 2 statement. These revisions align with Singapore’s commitment to solidifying its position as a cryptocurrency-friendly hub, underpinned by regulatory frameworks that foster innovation while prioritizing...Read full story at CryptoSlate >

Bitcoin realized gains soar to $3.3 billion amid profit taking

Quick Take The digital asset market experienced a notable increase in profit-taking from Bitcoin on April 1, with realized profits reaching $3.3 billion, according to Glassnode, marking the highest level since March 25. This trend is anticipated, as Bitcoin recently reached all-time highs last month, prompting investors to capitalize on gains following the digital asset’s...Read full story at CryptoSlate >

Vitalik Buterin’s ‘Degen Communism’ and his vision for reducing Ethereum technical debt

Ethereum co-founder Vitalik Buterin spent April Fools’ Day writing both serious and playful content across the Ethereum website and his personal blog. Across the two posts, he advocated protocol simplifications and efficiency improvements while exploring thought-provoking ideas about the future of political and economic systems in an increasingly digital world. In his more serious post,...Read full story at CryptoSlate >

Bitcoin tumbles to $66,000 triggering over $240 million in market liquidations

Quick Take Bitcoin’s price took a tumble on April 2, briefly dipping just to $66,000 before recovering slightly to around $66,500 as of press time. This drop from the digital assets’s all-time high of approximately $73,500 on March 14 represents roughly a 10% decline. Coinglass data shows that the plunge triggered a flurry of liquidations...Read full story at CryptoSlate >

Burkett Financial Services buys Bitcoin via ETFs

Burkett Financial Services, a South Carolina-based financial planner, disclosed investments in two Bitcoin exchange-traded funds (ETFs) on April 1. Burkett’s latest Form 13F filing indicates it holds 602 shares of BlackRock’s iShares Bitcoin Trust (IBIT), a spot Bitcoin ETF. The firm’s holdings are valued at $24,363. The company also holds 630 shares of ProShares’ Bitcoin...Read full story at CryptoSlate >

Coinbase CFO believe Ethereum is unlikely to be classified as a security

Coinbase CFO Alesia Haas believes that “Ethereum (ETH) is not a security,” and regulators are unlikely to label it as such. Haas shared her view on the matter during an interview with Fortune and pointed to the fact that both the SEC and the CFTC have said the same thing in the past. The Coinbase...Read full story at CryptoSlate >

Solana DEX trading volume hits monthly ATH of $60 billion

Decentralized exchanges on the Solana blockchain have set a new monthly record for trading volume, surpassing $60.34 billion in March, based on DeFiLlama data. This achievement more than doubles the previous record of nearly $28.14 billion from December 2023 and is the second-highest volume of all blockchains — surpassed only by Ethereum’s $77.55 billion during...Read full story at CryptoSlate >

Bitcoin falls over 4% to retest $68k support as Q2 starts

Bitcoin fell over 4.5% to a local low of $68,000 on April 1, marking a red start to the month after seven consecutive monthly closes in the green. The flash crash resulted in $319.43 million in liquidations over the past 24 hours — with longs making up the vast majority at $252.42 million. While there...Read full story at CryptoSlate >

Over 5% of Bitcoin’s circulating supply now held in ETPs

Quick Take According to data from the Bold Report, Bitcoin exchange-traded products (ETPs) have achieved a significant milestone, accumulating over 1 million BTC. This translates to an impressive $74 billion in assets under management (AUM). This accumulation represents more than 5% of Bitcoin’s circulating supply, which is approximately 19.7 million Bitcoin. In mid-March, these investment...Read full story at CryptoSlate >

Bitcoin leads over $800 million global crypto ETP market rebound, overshadowing Ethereum outflows

Last week, the digital asset market witnessed a significant influx of over $800 million, spearheaded by Bitcoin’s dominance, according to the weekly flow report shared by CoinShares‘ head of research James Butterfill. This surge marks a swift rebound following the near $1 billion outflow observed in the previous week. Bitcoin, US see significant inflows. Bitcoin...Read full story at CryptoSlate >

Bitcoin’s bullish swing backed by record high short-term holder realized price

Quick Take Bitcoin on-chain data by Glassnode portrays a bullish sentiment, underscored by robust support levels influenced by short-term holders‘ behavior. The Short-Term Holder Realized Price (STH RP), reflecting the average on-chain acquisition cost for coins moved within the last 155 days, recently soared to an all-time high of $57,547. Notably, its 7-day percent change...Read full story at CryptoSlate >

Polygon Labs CEO sees layer-3s like new Degen Chain as a risk to Ethereum

Polygon’s CEO Marc Boiron emphatically stated that the layer-2 network was not considering developing layer-3 protocols because of the potential risks they pose to Ethereum’s security. Boiron made this statement on the back of the early success of Degen Chain, a layer-3 network running on the Coinbase-backed scaling solution Base. Layer 3 protocols enhance scalability...Read full story at CryptoSlate >

Tether becomes seventh largest Bitcoin holder with recent $618 million purchase

Tether (USDT) is now the seventh-largest Bitcoin holder globally, following its purchase of more than 8,000 BTC in the past day, according to Bitinfocharts data. On-chain data shows that the stablecoin issuer received approximately 8,889 BTC, valued at around $618 million, from a Bitfinex hot wallet on March 31. This purchase amplified Tether’s total Bitcoin holdings...Read full story at CryptoSlate >

As Bitcoin approaches halving, diminishing returns theory faces critical test

Quick Take As the highly anticipated Bitcoin halving event draws closer on Apr. 20, the digital assets community is keenly observing Bitcoin’s price movements throughout various halving cycles. While an examination of returns from cycle lows and highs suggests that the diminishing returns theory may not align, a deeper analysis of price performance between successive...Read full story at CryptoSlate >

Historical data reveals April’s first week as Bitcoin’s Achilles’ heel

Quick Take Bitcoin closed March on a strong note, achieving its highest monthly and quarterly closing prices above $70,000. The leading digital asset by market cap has experienced significant growth in 2024, with a year-to-date rally of over 57%, driven by increasing institutional adoption and investor interest. However, the new quarter started with a sudden...Read full story at CryptoSlate >

AI’s Brave New World: Whatever happened to security? Privacy?

The following is a guest post from John deVadoss, Governing Board of the Global Blockchain Business Council in Geneva and co-founder of the InterWork Alliance in Washington, DC. Last week, I had the opportunity in Washington, DC to present and discuss the implications of AI relating to Security with some members of Congress and their...Read full story at CryptoSlate >

Court rules Custodia Bank not entitled to Federal Reserve master account

A Wyoming court has ruled against Caitlin Long’s Custodia Bank by determining that the lender is not entitled to a Federal Reserve master account. In a summary judgment on March 29, Judge Scott W. Skavdahl found that Custodia Bank has no statutory entitlement to a master account and will not be granted a writ of...Read full story at CryptoSlate >

Vitalik believes memecoins should be used for philanthropy and social impact

Ethereum co-founder Vitalik Buterin recently articulated a reflective and forward-looking perspective on the evolution of memecoins within the crypto ecosystem. Memecoins, initially popularized by Dogecoin and later by a plethora of imitators, have been a subject of much debate and scrutiny for their volatile nature and, at times, controversial impacts. Buterin’s latest blog post delved...Read full story at CryptoSlate >

CFTC’s Caroline Pham says KuCoin charges may infringe on SEC authority

CFTC Commissioner Caroline Pham said on March 29 that her agency’s charges against KuCoin may infringe on the duties of the SEC. Pham acknowledged the CFTC case as an “aggressive enforcement action” and commended the Division of Enforcement for the move. However, she raised concerns about part of the allegations. Distinction needed According to Pham, the...Read full story at CryptoSlate >

European trading hours lead global Bitcoin surge in 2024’s first quarter

Quick Take Bitcoin has experienced a remarkable first quarter in 2024, as reported by Coinglass, with the digital asset surging by an impressive 64% over the quarter and by 13% in March alone. This surge marks the seventh consecutive month of gains for Bitcoin. The introduction of spot Bitcoin ETFs in the United States has...Read full story at CryptoSlate >

Court freezes Craig Wright’s assets to ensure payment of legal fees

The UK court has ordered a worldwide freeze on £6 million of Craig Wright’s assets, aiming to prevent the computer scientist from transferring funds offshore and evading court-imposed costs, according to a March 28 filing. This ruling comes in the wake of a court case brought by the Crypto Open Patent Alliance (COPA), where Judge...Read full story at CryptoSlate >

Elon Musk teases next-gen AI chatbot Grok-1.5 with superior coding and math skills

Elon Musk announced that an upgraded iteration of his artificial intelligence firm xAI’s chatbot Grok may be released next week. This revelation came via Musk’s social media post on March 29, following xAI’s announcement of Grok-1.5 in a blog post. The enhanced AI chatbot will initially be accessible to “early testers and existing Grok users...Read full story at CryptoSlate >

Analysts eye MicroStrategy share price to Bitcoin holdings ratio closely as MSTR falls 11%

Quick Take MicroStrategy (MSTR), the business intelligence firm renowned for its substantial Bitcoin holdings, experienced a significant share price decline of over 11% on March 28. The company’s shares are currently trading at $1,704, starkly contrasting the recently anticipated $2,000 mark reported by CryptoSlate just days earlier. Despite the recent setback, MSTR’s year-to-date performance remains...Read full story at CryptoSlate >

Binance-backed HKVAEX shuts down, gives users 30 days to withdraw amid Hong Kong regulatory tightening

Binance-linked HKVAEX exchange is closing down and has withdrawn its application for an operational license in Hong Kong, according to a notice on the Securities and Futures Commission (SFC) website. The crypto trading platform, operating under the name BX Services Ltd, formally withdrew its license application on March 28, approximately three months after it applied...Read full story at CryptoSlate >

Bitcoin ETFs surpass $12 billion in net inflows as GBTC selling slows

Quick Take BitMEX data shows that the Bitcoin (BTC) exchange-traded funds (ETFs) witnessed another day of net inflows on March 28, totaling $183.0 million, equivalent to 2,587.9 BTC. This marks the fourth consecutive day of inflows. While the Grayscale Bitcoin Trust (GBTC) experienced outflows of $104.9 million, equivalent to 1,482.8 BTC, this figure represents the...Read full story at CryptoSlate >

Solana DEX volumes surge with over 5.8M traders driving growth

Solana has had a solid year so far. The network has experienced a significant surge in trading volume across its decentralized exchanges (DEXs). A rising DEX volume usually indicates growing organic activity and interest in a blockchain network. Analyzing the distribution of these volumes and liquidity across Solana’s protocols helps us understand which parts of...Read full story at CryptoSlate >

Ethereum’s Vitalik Buterin praises Worldcoin’s data privacy focus amid regulatory scrutiny

Ethereum co-founder Vitalik Buterin has praised Worldcoin’s effort to enhance data privacy amid recent global regulatory challenges. In a March 29 post on social media platform X, Buterin acknowledged Worldcoin’s commitment to addressing privacy concerns by significantly reducing the data required in its system. According to him: “[Worldcoin] actually has been doing quite a good...Read full story at CryptoSlate >

Coinbase sees third-largest Bitcoin withdrawal in a year with $1.1 billion moved in a day

Quick Take Coinbase exchange witnessed a massive withdrawal of approximately 16,100 BTC, valued at $1.1 billion, on March 28. According to data from Arkham Intelligence, this substantial outflow occurred in two separate transactions, with the first involving roughly 8,100 BTC worth around $574 million and the second comprising 8,000 BTC valued at approximately $566 million....Read full story at CryptoSlate >