The SEC is using now-unsealed court records to bolster its Binance lawsuit

In a filing on Dec. 8, the U.S. Securities and Exchange Commission (SEC) asked the court to take judicial note of the newly unsealed documents of Binance and its former CEO Changpeng Zhao‘s plea deals with other agencies. The regulatory watchdog argues that Binance and CZ’s settlement agreements prove why its case should move forward....Read full story at CryptoSlate >

Following in the footsteps of Reddit and Twitter: Web3 loves alienating its user base

The following is a guest post from Oleg Fomenko, the CEO of Sweatcoin. In the rapidly evolving landscape of technology, where innovation is standard and breakthroughs are expected, one fundamental principle often gets overlooked amidst the buzz and excitement: understanding the consumer. Tech companies, ranging from Silicon Valley giants to Web3 startups, often find themselves...Read full story at CryptoSlate >

Web3 gaming tokens outperform market as hype reaches critical levels

The web3 gaming sector has seen growing interest from investors, resulting in notable price surges for gaming tokens in recent weeks, based on CryptoSlate data. Gaming has outperformed other crypto market sectors with an 800% increase in value over the past months. Industry experts believe that gaming is a key narrative in the upcoming bull...Read full story at CryptoSlate >

EU set to adopt world’s first AI legislation that will ban facial recognition in public places

The European Union (EU) is leading the race to regulate artificial intelligence (AI). Putting an end to three days of negotiations, the European Council and the European Parliament reached a provisional agreement earlier today on what’s set to become the world’s first comprehensive regulation of AI. Carme Artigas, the Spanish Secretary of State for digitalization...Read full story at CryptoSlate >

Avalanche and Cardano post double-digit gains amidst growing altcoin rally

The crypto market is buzzing with the potential revival of an altcoin season, as evidenced by the impressive performance of various altcoins over the past month amid growing investor interest. This revival is underpinned by a shift in investor sentiment and interest in altcoins with solid fundamentals and compelling narratives. The surge in altcoin trading...Read full story at CryptoSlate >

Republic of Palau reports high satisfaction in Ripple-based CBDC pilot

Palau’s Ministry of Finance released a detailed report on the first phase of its groundbreaking Ripple-based stablecoin program on Dec. 7. The country conducted the pilot project with Ripple’s Central Bank Digital Currencies (CBDC) and Central Bank Engagements teams. The program additionally used Ripple’s CBDC platform on a technical level. Palau said that it launched...Read full story at CryptoSlate >

Senate bill adds to growing list of digital asset legislation moving through Congress

U.S. Senators Mitt Romney (R-UT), Mark R. Warner (D-VA), Mike Rounds (R-SD), and Jack Reed (D-RI) have proposed legislation aimed at sanctioning foreign entities that facilitate financial transactions, including digital asset transactions, with Foreign Terrorist Organizations (FTOs) designated by the U.S. The bill, titled the Terrorism Financing Prevention Act, is a response to the increasing...Read full story at CryptoSlate >

SEC issues new investor warning over crypto assets

In a recurring advisory issued today, the U.S. Securities and Exchange Commission (SEC), through its Office of Investor Education and Advocacy, has once again emphasized the significant risks associated with investing in crypto asset securities. The warning, echoing previous alerts, highlights the ongoing speculative and volatile nature of such investments, underscoring the substantial risk of...Read full story at CryptoSlate >

Ethereum developers set roadmap for an eventful 2024

Ethereum (ETH) developers have outlined a comprehensive plan for the network’s development in 2024, including significant upgrades and new proposals after their latest execution layer meeting on Dec. 8. A key focus is on the deprecation of the Goerli testnet, with a fork scheduled for early 2024. This move is part of the strategy to...Read full story at CryptoSlate >

VanEck embraces crypto culture with ‘HODL’ ticker for proposed Bitcoin ETF

Asset managers Fidelity and VanEck have unveiled their tickers for their spot Bitcoin (BTC) Exchange-Traded Fund (ETF) applications with the U.S. Securities and Exchange Commission (SEC). VanEck chooses HODL VanEck revealed the ticker for its Bitcoin ETF to be “HODL,” according to an updated filing submitted with the SEC. VanEck’s HODL ticker choice is a...Read full story at CryptoSlate >

Bitcoin miner revenue per exahash spikes, nearing yearly high

Quick Take In a notable development in the Bitcoin mining arena, an uptick in miner fees was observed by CryptoSlate yesterday. Miner revenue per Exahash, a metric applied to estimate the daily income of miners in relation to their network hash-power contribution, has experienced a significant surge. This metric, calculated by the ratio of total...Read full story at CryptoSlate >

Solana liquid staking token JTO surges 85% post-exchange debut, following unique airdrop event

Solana-based liquid staking project Jito’s JTO token price soared more than 80% following its trading debut across multiple major exchanges like Coinbase and Binance. Data from CoinMarketCap shows that JTO’s value surged to more than $3 during the past day, representing an 85% growth for the newly launched digital asset. JTO’s price has retraced to...Read full story at CryptoSlate >

Bitcoin remains stable as US unemployment drops to 3.7%

Quick Take The current US labor market data exhibits an intriguing dynamic, with the unemployment rate settling at 3.7%, notably lower than the consensus of 3.9%. This unexpected decrease signifies an improving job market, potentially indicating a more robust economy. Concurrently, non-farm payrolls witnessed an uptick, surpassing the forecast of 180,000 to land at a...Read full story at CryptoSlate >

Bosch showcases dePIN sensor kit using AI agents to reward users for local environmental data streams

Peaq, a multi-chain L1 for real-world applications, Bosch, the world’s largest sensor manufacturer, and have collaborated to create the Bosch XDK110 Rapid Prototyping Kit. This device integrates blockchain and AI technology, enabling users to become active data providers and earn cryptocurrency rewards. The group believes this collaboration marks a significant step towards an ‘open...Read full story at CryptoSlate >

Ethereum hits year-to-date high with 97% surge

Quick Take Ethereum experienced significant growth in 2023, with a year-to-date high of approximately $2,385, marking a 97% rise in value. This surge, however, presents a dichotomy when viewed through the prism of Bitcoin. Using Bitcoin as a reference point, Ethereum saw a decline of 25%, positioning it only 6% higher than the year-to-date lows....Read full story at CryptoSlate >

El Salvador launches exclusive Bitcoin-driven Freedom Visa with Tether

El Salvador, in partnership with Tether, has launched a “Freedom Visa Program.” Similar to Portugal’s Golden Visa, which was scrapped earlier this year, the program encourages Bitcoin investors to become citizens of the country. El Salvador’s initiative offers a unique opportunity for 1,000 individuals annually to partake in the nation’s economic renaissance, which is deeply...Read full story at CryptoSlate >

US spot Bitcoin ETF could dwarf Canada’s $370 million market cap ETF success

Quick Take As anticipation builds around introducing a spot Bitcoin ETF in the United States, the world’s largest financial capital market, a comparative analysis with the Canadian market provides intriguing insights. Canada is already home to a spot Bitcoin ETF, Purpose, possessing a market cap of roughly USD$370 million, with holdings of about 34,000 Bitcoin....Read full story at CryptoSlate >

Binance Proof-of-Reserves show Bitcoin balance dropped 23k BTC in November amid regulatory woes

According to its latest proof of reserves report, Binance experienced a significant decline in its Bitcoin balance in November, dropping by over 23,000 BTC, or roughly 4%, coinciding with the exchange’s regulatory issues with U.S. authorities. According to data from Binance’s website, the total BTC balance of its customers was 584,659 BTC at the beginning...Read full story at CryptoSlate >

VanEck predicts $40B inflow into Bitcoin ETFs and $100k BTC in 2024

Global investment management firm VanEck‘s 2024 predictions for crypto suggest a transformative year ahead for the sector, highlighting pivotal events and trends set to redefine the digital asset landscape from economic fluctuations to groundbreaking technological advancements. The forecasts are based on analysis beyond just the crypto sector, looking at economic trends, technological developments, and regulatory...Read full story at CryptoSlate >

Ten years ago, Michael Saylor worried Bitcoin might fail at $1k

A decade ago, MicroStrategy CEO Michael Saylor expressed skepticism about Bitcoin, warning about possible regulatory threats. On Dec. 7, 2013, Saylor wrote: “Lacking a credible sponsor, #Bitcoin is in imminent danger of being regulated out of existence.” In the decade since, not only has Bitcoin not been regulated out of existence, but it has thrived,...Read full story at CryptoSlate >

Binance reevaluates MENA strategy, retracts Abu Dhabi fund management bid

The major cryptocurrency exchange Binance withdrew an application for certain operations in Abu Dhabi, according to a recently updated filing. The Abu Dhabi Global Market (ADGM) is the regulator responsible for the request, which took effect on Nov. 15, 2022, and was withdrawn on Nov. 7, 2023. On its website, Binance states that the regulator...Read full story at CryptoSlate >

Sam Altman-backed crypto startup seeking investments for BTC Private Credit Fund

Meanwhile Group has introduced a novel Bitcoin investment vehicle called the Meanwhile BTC Private Credit Fund LP through its subsidiary, Meanwhile Advisors, according to a Dec. 7 press release. The startup is backed by notable investors, including Sam Altman and Gradient Ventures, and raised $20 million in its recent seed funding round. Meanwhile is looking...Read full story at CryptoSlate >

Record 31% of Bitcoin supply dormant for over five years

Quick Take Historical data indicates a growing trend among Bitcoin investors towards long-term holding. Since Bitcoin’s inception on Jan. 3, 2009, coins have continuously circulated through mining, purchasing, and selling processes, with some being lost. However, an analysis of the supply last active reveals a significant percentage of Bitcoin has not moved on-chain for extended...Read full story at CryptoSlate >

Spot Bitcoin ETFs edge closer to reality as SEC talks hone in on key details

Talks between the U.S. SEC and several asset management firms concerning the approval of spot Bitcoin exchange-traded funds (ETFs) have now delved into advanced technical details, Reuters reported Dec. 7, citing sources familiar with the matter. The sources, who asked not to be named but who have knowledge of the proceedings, told the news organization...Read full story at CryptoSlate >

Do Kwon to be extradited to the U.S. to face criminal charges: WSJ

Do Kwon, the co-founder and former CEO of Terraform Labs, will reportedly be extradited to the U.S. to face criminal charges, The Wall Street Journal reported on Dec. 7, citing people familiar with the matter. Last month, CryptoSlate reported that Kwon faced potential extradition to the U.S. or South Korea following the Montenegro High Court’s...Read full story at CryptoSlate >

Upcoming Bitcoin halving could push floor price above $41,000

Quick Take The forthcoming Bitcoin halving in April 2024 is projected to significantly impact the Bitcoin mining landscape, potentially doubling the cost of Bitcoin production and electrical costs. Recent data from Capriole Investments underscores the severity of this change, with current Bitcoin electrical and production costs estimated at around $28,500 and $47,655, respectively, against Bitcoin’s...Read full story at CryptoSlate >

Phoenix Group secures $380M deal for sustainable Bitcoin mining equipment

Bitcoin (BTC) miner Phoenix Group secured a $380 million hardware deal from Whatsminer less than two days after its stock debuted on the Abu Dhabi Securities Exchange (ADX). In a Dec. 7 statement, the miner stated it would take immediate delivery of $136 million worth of mining equipment, with an additional option worth $246 million....Read full story at CryptoSlate >

Cardano’s DeFi ecosystem nears $300M TVL, buoyed by ADA’s bullish trend

The total value of assets locked (TVL) in Cardano’s decentralized finance (DeFi) ecosystem is approaching a 21-month high of $300 million on the back of the blockchain network’s native ADA token bullish price movement. Per DeFillama data, Cardano’s TVL sits at $298 million as of press time, representing a 508% growth on the year-to-date (YTD)...Read full story at CryptoSlate >

Bitcoin’s supply last active over a year ago reached ATH

Bitcoin’s ‘supply last active over a year ago’ is a barometer for long-term holding trends and market liquidity. This metric reflects the quantity of Bitcoin that has remained dormant, without transactions or movements, for over a year. Its significance lies in revealing the propensity of investors to hold their assets for extended periods, a behavior...Read full story at CryptoSlate >

Bitcoin Core v26 goes live as 1% of nodes upgrade on launch day

Bitcoin Core version 26.0 was released yesterday, Dec. 6, and 1% of Bitcoin nodes have been upgraded within the first 24 hours. This latest update to the primary software used to interact with the Bitcoin network introduces key enhancements aimed at improving security and network performance. Bitcoin Core, often likened to the operating system for...Read full story at CryptoSlate >

Significant drop in Bitfinex Bitcoin longs as whales cash in

Quick Take Analysis of recent data from Datamish offers an enlightening peek into the ongoing behavior of Bitfinex whales, particularly their continual move toward closing their longs. Previously observed by CryptoSlate last week, it was noted that these industry heavyweights closed Bitcoin longs of approximately 12,000 BTC. At November’s end, the total stood at an...Read full story at CryptoSlate >

Bitcoin transaction fees surge, rivaling Ethereum daily gas fee totals

Quick Take Bitcoin transaction fees have witnessed a significant uptick recently, echoing patterns seen last month during the Inscription frenzy. This time, however, the catalyst appears to be an increase in transactions awaiting confirmation in the Bitcoin network’s mempool. The volume of coins in transactions held in the mempool reached 88,000 BTC. Furthermore, a detailed...Read full story at CryptoSlate >

Ocean Mining defends accusations of censoring privacy-focused Bitcoin transactions by Samourai Wallet

Samourai Wallet, a Bitcoin mobile app wallet, accused Ocean Mining, a decentralized BTC mining pool, of censoring “privacy enhancing transactions” on the blockchain network in an extensive Dec. 7 thread on social media platform X (formerly Twitter). However, Ocean Mining’s top executive retorted that a bug in Samurai’s system caused the problem. The issue The...Read full story at CryptoSlate >

Key Bitcoin indicators highlight bullish trend, reminiscent of past bull runs

Quick Take Bitcoin’s financial trajectory is demonstrating positive momentum, as substantiated by key moving averages like the Pi Cycle Indicator (111D-SMA), the Mayer Multiple (200D-SMA), and the Yearly Moving Average (365D-SMA), all of which are showing a bullish trend. In late 2022, these averages fell beneath the 200 Week Moving Average (200W-SMA), but recent analysis...Read full story at CryptoSlate >

Beam jumps 20% as it expands gaming ecosystem from Avalanche to Immutable zkEVM

Merit Circle DAO has partnered with Immutable to expand its Beam gaming ecosystem. This strategic alliance will see Beam, Merit Circle’s open-source blockchain network, launch on the Immutable zkEVM, a high-performance scaling solution powered by Polygon. Initially deployed on Avalanche as a subnet, Beam aims to simplify game development and enhance player experience. This partnership...Read full story at CryptoSlate >

Robinhood expands into EU with crypto trading and Bitcoin rewards

Robinhood has rolled out its cryptocurrency trading platform for customers across the European Union, providing access to over 25 cryptocurrencies, including Bitcoin, Ethereum, and Solana, according to a Dec. 7 statement. The company positions itself as a safe and regulated option for crypto customers to access the emerging industry, offering to repay a percentage of...Read full story at CryptoSlate >

Solana’s Saga smartphone sales dramatically underperform despite positive reviews

Solana Labs co-founder Anatoly Yakovenko responded to underwhelming sales of his firm’s smartphone in an interview with Unchained Crypto on Dec 5. The firm unveiled its Android smartphone, Saga, in June 2022 and launched the device in 2023. The company aimed to provide users with a device tailored to web3. Specifically, it promised an app...Read full story at CryptoSlate >

Binance CEO Richard Teng refuses to reveal location of company HQ

Binance’s newly appointed CEO, Richard Teng, declined to share the location of his company’s global headquarters with the Financial Times on Dec. 5, continuing its tradition of framing itself as a global company. Teng refused to discuss the firm’s base of operations, stating: “Why do you feel so entitled to those answers...Read full story at CryptoSlate >

Hong Kong regulator blocks crypto websites over illegal token offerings and false claims

Hong Kong’s Securities and Futures Commission (SFC) has restricted access to two cryptocurrency websites, according to a Dec. 6 notice. In that post, the securities regulator said that it had taken steps to block access to the websites of HongKongDAO (also known as Hong Kong Digital Research Institute) and BitCuped. Despite the regulator’s actions, both...Read full story at CryptoSlate >

Google unveils Gemini, its ‘most capable’ AI model to date

On Wednesday, Google unveiled Gemini, its most advanced artificial intelligence system to date, marking a significant milestone in its AI development. Dubbed “our largest and most capable AI model yet” by Google CEO Sundar Pichai, Gemini is designed to understand and operate seamlessly across text, images, audio, video, and other modes of information. “This new...Read full story at CryptoSlate >

Resurgent stablecoin flow into Bitcoin marks possible market shift

Quick Take The Stablecoin Supply Ratio (SSR), a critical parameter gauging the buying power of stablecoins against Bitcoin, has seen significant movement lately. This ratio, calculated as Bitcoin Market Cap divided by Stablecoin Market Cap, offers key insights into the supply-demand dynamics between Bitcoin and USD. The lower the SSR, the greater the potential purchasing...Read full story at CryptoSlate >

Binance announces compensation for users who bought AEUR at inflated prices

Cryptocurrency exchange Binance said it would compensate users impacted by a recent deviation in the price of Anchored Coins EUR (AEUR) stablecoin. On Dec. 5, AEUR’s value surged nearly 200% to more than $3 after the cryptocurrency platform listed it. The exchange promptly suspended trading for the asset’s four trading pairs, including the AEUR/USDT, BTC/AEUR,...Read full story at CryptoSlate >

North Korea’s Lazarus Group escalates crypto attacks via Telegram phishing

North Korea-backed hackers Lazarus Group are increasingly targeting the cryptocurrency community through widespread phishing operations on the popular messaging application Telegram, according to a Dec. 6 update from blockchain security firm SlowMist. The group’s new modus operandi involves impersonating reputable venture capital investment figures from Archax, HashKey, and Gumi Cryptos to lure crypto teams with...Read full story at CryptoSlate >

Understanding investor sentiment through the Bitcoin leverage ratio

The estimated leverage ratio for Bitcoin futures, defined as the ratio of the open interest in futures contracts to the balance of the corresponding exchange, is a barometer for gauging the degree of leverage that traders employ in their positions. Analyzing this ratio, especially for a high-volatility asset like Bitcoin, provides invaluable insights into the...Read full story at CryptoSlate >

Legacy media skepticism playing catch up to Bloomberg for Bitcoin coverage

Recent developments in crypto, particularly Bitcoin’s price surge, starkly contrast with the continued skeptical and sensationalist coverage by legacy media. Granted, Bitcoin’s journey in the digital currency landscape has often been tumultuous, marked by significant price fluctuations and evolving public perceptions. However, despite a remarkable 168% increase in value this year, Bitcoin continues to face...Read full story at CryptoSlate >

Short-term Bitcoin holders may have cashed in $3B as long-term investors hold steady

Quick Take Recent analysis by CryptoSlate reveals a trend among short-term Bitcoin holders. On Dec. 1, amid the unprecedented profit taking of around $1.5 billion, Bitcoin has since increased by 13% since then. This surge coincided with a new record in potential profit-taking by short-term holders – investors who have acquired Bitcoin within the last...Read full story at CryptoSlate >

Societe Generale to debut Euro-pegged stablecoin on Bitstamp exchange

Société Générale, France’s third-largest bank, is poised to introduce a stablecoin named EUR CoinVertible (EURCV) on Bitstamp, a Luxembourg-based crypto exchange, the Financial Times reported on Dec. 6. Bitstamp’s website shows that the stablecoin has been listed on the platform, but trading has yet to begin as of press time. What is EURCV? EURCV is...Read full story at CryptoSlate >

Bitcoin developer’s ‘bug’ claim triggers ORDI token brief dip below $50

Bitcoin (BTC)-based Ordinals (ORDI) price briefly fell under $50 after renowned BTC core developer Luke Dashjr described Inscriptions as bugs on the blockchain network that must be fixed. In a Dec. 6 post on social media platform X, Dashjr said inscriptions’ were exploiting a vulnerability in Bitcoin Core to spam the blockchain. Ordinal Inscriptions are...Read full story at CryptoSlate >

Bitcoin to US long bond ratio matches ATH last seen in 2021

Quick Take As Bitcoin was catapulted into the ninth position in the global asset rank yesterday, notably ahead of Meta, its performance is juxtaposed with TLT, the US long bond ETF. Currently, Bitcoin stands at 36% short of its all-time high, while TLT, trading approximately at $95, is 49% away from its peak. However, a...Read full story at CryptoSlate >

Soaring Bitcoin prices liquidate $272M, pushes Tether USDT supply above 90M

Cryptoc traders experienced liquidations worth more than $260 million during the last 24 hours due to the surging value of digital asset prices. Data from CoinGlass reveals that most of these liquidated positions, valued at around $170 million, belonged to shorts—traders who speculated on price declines. This marks the fourth-largest sum of short liquidations recorded...Read full story at CryptoSlate >

Does DeFi still have a chance at fulfilling its promise?

Decentralized finance (DeFi) emerged as a movement with the promise of revolutionizing the global financial system based on a simple yet powerful premise — offering access to better solutions with its peer-to-peer asset transfer and smart contract-powered autonomy. Since 2015, multiple sub-sectors like lending, trading, and automatic market-making quickly emerged, amassing US$175 billion in Total...Read full story at CryptoSlate >

ARAX Holdings acquires 20% stake in the Nemesis’ blockchain-based metaverse

ARAX Holdings Corp, a prominent name in the digital asset management world, announced on Dec. 5 that it has acquired a partial stake in The Nemesis, an innovative open-world metaverse platform. Ockert Loubser, COO of ARAX, said: “This acquisition is not just an investment; it’s a commitment to shaping the future of how we interact...Read full story at CryptoSlate >

Spotlight on AI, digital assets at House subcommittee hearing

The House Financial Services Subcommittee on Digital Assets, Financial Technology, and Inclusion convened a pivotal hearing on Dec. 5, to hear from high-ranking representatives from federal agencies, including the Federal Reserve, Securities and Exchange Commission (SEC), and the Office of the Comptroller of the Currency (OCC), spoke on the increasing influence of new technologies such...Read full story at CryptoSlate >

SEC extends comment period on Grayscale spot Ethereum ETF into 2024

The Securities and Exchange Commission (SEC) has extended the 45-day comment period on a proposed rule change that would allow NYSE Arca to list and trade shares of the Grayscale Ethereum Trust as an exchange-traded fund (ETF), according to an SEC filing released on Dec. 5th. NYSE Arca originally submitted the proposed rule change to...Read full story at CryptoSlate >

Pro-crypto lawmaker Patrick McHenry to retire from Congress

U.S. Congressman Patrick McHenry, renowned for his role as a primary proponent of cryptocurrency in legislative circles, has decided to retire at the end of his current term in January 2025. The Congressman confirmed his impending departure in a statement released on Dec. 5. McHenry, who has been a member of Congress since Jan. 3,...Read full story at CryptoSlate >

Bitcoin whales resume accumulation, signaling confidence in market rally

Quick Take The recent Bitcoin price surge, up over 53% since Oct. 14, has been accompanied by a distinctive accumulation pattern among various wallet cohorts. The Accumulation Trend Score, a metric that measures the relative strength of coin accumulation by entity balance size, has shown intriguing trends. From mid-October to mid-November, the accumulation trend score...Read full story at CryptoSlate >

SEC says court, not jury, should determine security status of Terra’s crypto assets

The U.S. SEC has submitted a letter to Judge Jed Rakoff in the ongoing case against Terraform Labs, presenting the argument that the crypto assets should be classified as securities under legal definitions. The letter, dated Dec. 4, outlines the regulator’s position and proposes that the court, rather than a jury, determine whether the tokens...Read full story at CryptoSlate >

Bitcoin’s illiquid supply hits 10-year high, signaling strong investor conviction

Illiquid supply refers to the portion of Bitcoin’s supply that is not readily available for trading or selling. This typically includes coins held in cold storage or wallets with infrequent transactions, indicating a long-term investment perspective rather than short-term trading. The significance of this metric lies in its ability to provide insights into investor sentiment....Read full story at CryptoSlate >

Binance settlement likely a watershed moment in crypto regulation: CFTC Commissioner

A senior U.S. regulator has suggested that the $4.3 billion settlement with Binance last month could represent a peak in enforcement actions against cryptocurrency firms. The settlement, which was for breaching U.S. anti-money laundering and sanctions laws, may provide a governance “template” for the crypto industry. CFTC Commissioner Kristin Johnson expressed her views at an...Read full story at CryptoSlate >

Bitcoin crosses $44k as market cap outstrips Meta

Quick Take Bitcoin, the pioneering digital asset, has seen a noteworthy rally, escalating past the $43,000 threshold and momentarily touching $44,000 before undergoing a slight retracement. The ripple effect of this rapid ascension culminated in a significant $230 million liquidation in the crypto market within the past 24 hours, according to Coinglass. Nonetheless, the digital...Read full story at CryptoSlate >

Swiss city Lugano to accept Bitcoin, Tether for tax payments

Lugano, Switzerland, has broadened its tax and community fee payment options to include the option to pay in cryptocurrencies, including Bitcoin (BTC) and Tether’s USDT stablecoin, according to a Dec. 5 statement. The transactions will be facilitated by Bitcoin Suisse, a Swiss crypto gateway provider, that would enable citizens and institutions to settle invoices issued...Read full story at CryptoSlate >

Bitcoin derivatives market shows stability with balanced open interest levels

Quick Take An analysis of derivative market indicators presents an encouraging health check. Historically, an open interest as a percentage of Bitcoin’s market capitalization around 2% is considered healthy. Advancing this measure, the total open interest (OI) of Bitcoin perpetual, futures, and options, as a percentage of market capitalization, is currently standing at 3.24%, according...Read full story at CryptoSlate >

Web3 developer Thirdweb boosts bounty to $50,000 in light of fresh smart contract security risks

Thirdweb, a Web3 software development kit (SDK) provider, confirmed the presence of a security vulnerability in a widely used open-source library, impacting numerous Web3 smart contracts, according to a Dec. 4 statement on social media platform X (formerly Twitter). The firm stated that the vulnerability was initially identified on Nov. 20 and impacted a variety...Read full story at CryptoSlate >

SafePal CEO says its time for Web3 to mature, advocates for shift in focus – Interview

In an industry where innovation and disruption are the norm, Veronica Wong, CEO and Co-Founder of SafePal, offers a refreshing yet provocative perspective on the evolution and future of Web3. With a blend of realism and foresight, Wong dissects the Web3 landscape, emphasizing the need for a strategic balance between pioneering spirit and pragmatic application....Read full story at CryptoSlate >

Bitcoin miner Phoenix Group makes $2.47B trading debut in Abu Dhabi rising 50%

Middle East-based Bitcoin (BTC) miner Phoenix Group became the first crypto-related firm to go public on the Abu Dhabi Securities Exchange (ADX) today, Dec. 5, according to a post on social media platform X (formerly Twitter). The miner was initially scheduled to go public on Dec. 4 but shifted its debut to today after the...Read full story at CryptoSlate >

DigiFT becomes Singapore’s first regulated public blockchain exchange for asset tokenization

Ethereum-based digital assets exchange DigiFT said it received a Capital Market Services (CMS) license and was recognized as a Recognized Market Operator (RMO) by the Monetary Authority of Singapore, according to a Nov. 5 statement shared with CryptoSlate. The CMS license allows DigiFT to handle regulated activities involving securities and collective investment scheme (CIS) units in...Read full story at CryptoSlate >

Binance looks to boost FDUSD adoption with fee-free trading for Ethereum, XRP, others

Binance has expanded its free trading options for the spot and margin trading pairs of the First Digital USD (FDUSD) stablecoin pairing with six digital assets, including BNB, Dogecoin, Chainlink, Ethereum, Solana, and XRP, according to a Dec. 5 statement. Binance users will see zero maker and taker fees for these pairs starting Dec. 8...Read full story at CryptoSlate >

Asset managers long, hedge funds short in divergent CME Bitcoin futures landscape

Quick Take The landscape of Bitcoin Futures trading at the Chicago Mercantile Exchange (CME), the largest provider of open interest, highlights some intriguing patterns. Large Open Interest Holders (LOIH) of CME Bitcoin Futures – those traders holding at least 25 contracts open (>125BTC) – registered a count of 131 between Nov. 28 and Dec. 5,...Read full story at CryptoSlate >

Bitwise, BlackRock update filings in push for first U.S. spot Bitcoin ETF

Bitwise and BlackRock, two asset managers that plan to offer a spot Bitcoin exchange-traded fund (ETF), have submitted updated filings to securities regulators. Bitwise filed an amendment to its S-1 registration form with the U.S. Securities and Exchange Commission (SEC) on Dec. 4. BlackRock filed an amendment to its own S-1 form on the same...Read full story at CryptoSlate >

IRS targets tax crimes in crypto crackdown

The Internal Revenue Service Criminal Investigation unit (IRS-CI) reported involvement in a greater proportion of crypto investigations on Dec 4. In a statement to Bloomberg, IRS-CI chief Jim Lee said that about half of all active investigations into digital assets over the past year have involved tax issues. By contrast, he pointed out that three...Read full story at CryptoSlate >

Bitcoin breaks $42k with market cap outstripping Tesla and Berkshire Hathaway

Bitcoin (BTC) has broken the $42,000 mark, riding on a wave of optimism fueled partly by spot ETF hopefulness and the anticipation of the upcoming halving event. Bitcoin’s surge has propelled it into the top ten assets by market cap globally. With a market capitalization of $818 billion, Bitcoin surpassed Berkshire Hathaway and even Tesla....Read full story at CryptoSlate >

Terraform Labs cites SEC’s alleged misrepresentations in DEBT box case in its own bid for summary judgment

Terraform Labs, facing a securities lawsuit from the U.S. Securities and Exchange Commission (SEC), made a request on Dec. 4, 2023, for a summary judgment to conclude the case. Citing the treatment of a separate firm, DEBT Box, in ongoing SEC litigation, the defense pointed out that the regulatory body had misrepresented facts in that...Read full story at CryptoSlate >

Societe Generale issues €10M digital green bond on Ethereum

Société Générale (SocGen), France’s third-largest listed bank, made its foray into blockchain-based financial solutions by issuing its first digital green bond — amounting to €10 million — on a public blockchain, as per a Dec. 4 press release. Following the European Investment Bank’s (EIB) recent digital bond launch on a private blockchain, the French lender’s...Read full story at CryptoSlate >

Bitcoin miner Riot Platforms gears up for halving with strategic $290M hardware investment

Texas-based Bitcoin (BTC) miner Riot Platforms secured its largest-ever order of hash rate through the acquisition of 66,560 units of BTC miners, representing 18 EH/s, from MicroBT for $290.5 million, according to a Dec. 4 statement. Riot furthered that it also obtained options to acquire 265,000 additional miners from MicroBT, which would add up to...Read full story at CryptoSlate >

Nearly $1.5B in Bitcoin profits pocketed by short-term holders; long-time holders stay patient

Quick Take Bitcoin recorded a 7% gain, culminating in a year-to-date peak of $38,800 by Dec. 1. This milestone ignited the most considerable profit realization from short-term holders seen in recent times since November 2021. Short-term holders, defined as those who keep Bitcoin for less than 155 days, recorded approximate profits of $1.5 billion. This...Read full story at CryptoSlate >

Bitcoin Lightning Network experiences capacity and channel surge

The Bitcoin ecosystem continually evolves, adapting to the demands of a growing user base and the challenges of scalability. A critical component in this evolution is the Lightning Network, a layer-2 solution designed to facilitate faster and more efficient Bitcoin transactions. Understanding the dynamics of the Lightning Network provides insights into the broader health and...Read full story at CryptoSlate >

Nayib Bukele claims profit on El Salvador’s Bitcoin despite data showing losses

El Salvador president Nayib Bukele, who recently began a six-month leave from office in order to focus on his reelection campaign, has stated that El Salvador’s Bitcoin (BTC) investment has turned profitable due to Bitcoin’s recent surge past $41,000. Bukele wrote. “El Salvador’s Bitcoin investments are in the black. With the current Bitcoin market price, if...Read full story at CryptoSlate >

Bitcoin primed to outpace Ethereum during bull market for first time next cycle

Quick Take The year 2023 has marked a shift in the Ethereum to Bitcoin ratio. Despite Ethereum’s substantial dollar value growth of 88%, it has significantly underperformed compared to Bitcoin, being down by 25% against the lead digital asset. The ratio currently sits at a precarious 0.053, teetering near year-to-date lows. This trend invites speculation...Read full story at CryptoSlate >

UK Treasury fears retail digital pound would cause bank run due to easy access

The U.K. Treasury Committee is unsure if the benefits of a retail Central Bank Digital Currency (CBDC), or digital pound, will outweigh its risks as its introduction could pose significant challenges and risks to the economy. Concerns about retail digital pounds The lawmakers argued that the introduction of retail digital pounds could make the U.K....Read full story at CryptoSlate >

Mantle introduces mETH liquid staking protocol, expanding its Ethereum-based DeFi ecosystem

Mantle, the DAO-led web3 ecosystem, today unveiled its Mantle Liquid Staking Protocol (LSP) as a key addition to the Mantle Ecosystem, offering users a novel way to engage with Ethereum’s proof-of-stake (PoS) validator network, according to a statement shared with CryptoSlate. The Mantle LSP is a permissionless and non-custodial Ethereum (ETH) liquid staking protocol, functioning...Read full story at CryptoSlate >

Standard Chartered-backed Zodia Custody partners with Ripple institutional network Metaco

Standard Chartered-backed Zodia Custody has integrated with Ripple-owned Metaco to streamline institutional crypto custody services, according to a Dec. 4 statement. The integration allows institutions to access Zodia Custody’s high-security solutions through Metaco’s platform. Institutions can leverage both platforms to enhance security measures, risk management, and solvency protection. The announcement stated that institutions connected to...Read full story at CryptoSlate >

Bitcoin hash rate sets new records ahead of difficulty adjustment

Quick Take Bitcoin is witnessing a significant surge in its hash rate, with the recent figures setting new single-day records. On Dec. 1, the hash rate reached a high of 578 eh/s, followed by another notable surge on Nov. 3, where it achieved 558 eh/s. Amid this surge, the Bitcoin network is less than a...Read full story at CryptoSlate >

Coinbase CEO Brian Armstrong advocates for Bitcoin as ‘check and balance’ to the US financial system

Coinbase CEO Brian Armstrong recently discussed Bitcoin’s (BTC) potential role in advancing Western civilization through currency innovation in a Nov. 4 post on social media platform X (formerly Twitter). Armstrong highlighted Bitcoin’s capacity to combat inflation, a prevalent issue linked to traditional fiat currencies. He emphasized that the prevailing trend allows countries with reserve currency...Read full story at CryptoSlate >

Over $200 million liquidated in crypto market as shorts takes the hit

Quick Take The digital asset market has just witnessed a significant financial reset as over $214 million was liquidated in just 24 hours, with $166 million pertaining to short positions. The major player in this shakeout is none other than Bitcoin, shouldering the brunt with $84 million. Simultaneously, Binance has found itself at the heart...Read full story at CryptoSlate >

Bitcoin vaults into global top ten assets, surpassing Berkshire Hathaway and Tesla

Quick Take Over the past weekend, Bitcoin achieved a significant financial milestone, reaching a new year-to-date high of $41,700. This surge propelled Bitcoin into the top ten assets by market cap globally, a testament to the digital assets growing influence in the financial sphere. With a market capitalization of $813 billion, Bitcoin managed to surpass...Read full story at CryptoSlate >

Swiss banks issue first digital bonds using real CHF wholesale wCBDC on regulated DLT platform

Swiss banks, Cantons of Basel-City, and Zurich have successfully issued digital bonds using real CHF wholesale central bank digital currency (wCBDC) on SIX Digital Exchange (SDX). This marks the first-ever issuance of this kind, leveraging the Swiss National Bank’s (SNB) wCBDC. The digital bonds issued by Basel-City (ISIN: CH1265890678) and Zurich (ISIN: CH1306117073) represent a...Read full story at CryptoSlate >

Bitcoin zips past $41,000 amid unending ETF optimism

Bitcoin’s (BTC) price zipped past $41,000 for the first time in the last 19 months earlier today, Dec. 4, fueled by the unending optimism surrounding a possible spot exchange-traded fund (ETF) approval in the U.S. The top digital asset gained more than 5% during the last 24 hours to trade at $41,448 as of press...Read full story at CryptoSlate >

Blockstream CEO bets Bitcoin will hit $100K before the halving

Blockstream CEO Adam Back said on social media that he believes Bitcoin (BTC) will likely hit $100,000 before its next halving, causing a blend of excitement and skepticism within the cryptocurrency community. Back also believes that Bitcoin could potentially reach between $750,000 to $1 million per token under a bullish scenario. While some enthusiasts align with...Read full story at CryptoSlate >

Bitcoin shatters $40k threshold amid ETF discussions and halving anticipation

Bitcoin has triumphantly broken the $40,000 barrier, a significant milestone energizing the crypto space. In the past 24 hours alone, $23 billion in trading volume was recorded, showcasing the intense market activity surrounding the world’s premier cryptocurrency. This rally was further bolstered by a $15 million in short liquidations, indicating a strong bullish sentiment among...Read full story at CryptoSlate >

US Space Force Major urges Defense Department to adopt Bitcoin as an ‘offset strategy’

U.S. Space Force Major Jason Lowery has brought a novel perspective on Bitcoin to light, extending its significance far beyond finance and into national defense and cybersecurity. In a detailed letter to the Defense of Defense’s (DoD) Innovation Board, Lowery argued that Bitcoin and similar proof-of-work (PoW) protocols hold substantial strategic importance, urging the government...Read full story at CryptoSlate >

UK lawmakers wary of launching retail CBDC due to privacy, financial stability concerns

The U.K. Parliamentary Treasury Committee issued a stern warning about the development of a retail central bank digital currency (CBDC), or ‘digital pound,’ and its potential hazards to financial stability. Lawmakers urged the Bank of England and H.M. Treasury to thoroughly consider data privacy and financial stability issues before advancing with the implementation of this...Read full story at CryptoSlate >

Judge threatens to sanction SEC over ‘misleading’ statements in crypto case

U.S. District Judge Robert Shelby issued a stern warning to Securities and Exchange Commission (SEC) attorneys regarding possible sanctions for “misleading” court proceedings in a lawsuit against the cryptocurrency firm Debt Box, according to court filings. The SEC secured a temporary restraining order against Debt Box via statements that were later proven to be false....Read full story at CryptoSlate >

SEC met with Grayscale and seven other spot Bitcoin ETF applicants in late November

The U.S. Securities and Exchange Commission has recently disclosed meetings with several asset managers regarding their proposed spot Bitcoin ETFs. On Nov. 29, the SEC said that its Division of Trading and Markets members met with several Grayscale employees and the law firm Davis Polk on the same day. Grayscale CEO Michael Sonnenshein was among those...Read full story at CryptoSlate >

Spain detains man who helped Ethereum developer Virgil Griffith enter North Korea

Spanish police have arrested a c who helped Ethereum developer Virgil Griffith violate U.S. sanctions and travel to North Korea, Reuters reported on Dec. 1. Local authorities reportedly discovered that Alejandro Cao de Benos was in Barcelona under a false identity and intended to travel by train to Madrid. Police arrested Cao de Benos at...Read full story at CryptoSlate >

Binance representatives tipped off VIP traders about impending DOJ settlement in advance: Bloomberg

30As negotiations between Binance and U.S. authorities over legal violations came to a head in September, select high-value traders got an inside look at what was to come, according to new reporting from Bloomberg. According to unnamed attendees of a Binance-hosted dinner in Singapore, company representatives suggested to VIP traders that Binance would likely pay...Read full story at CryptoSlate >