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Stay informed with timely and objective news content relevant to the crypto industry, published daily by Bitcoin.com News.
On May 1, 2024, U.S. spot bitcoin ETFs experienced their most significant single-day outflows since their inception on Jan. 11, 2024. ETF Institute Co-Founder: ‘Inflows Don’t Go up in a Straight Line’ Data sourced from coinglass.com reveals that these funds saw a withdrawal of $563.7 million on Wednesday, with Fidelity’s FBTC experiencing the highest outflow, […]
https://news.bitcoin.com/record-withdrawal-from-us-bitcoin-etfs-marks-largest-single-day-outflow/
Unknown attackers recently siphoned digital assets valued at just under $1.6 million from the decentralized finance protocol, Pike Finance. The protocol announced it is offering a 20% reward for the return of the funds, while an ongoing investigation into the incident continues. USDC Vulnerability The decentralized finance (defi) protocol, Pike Finance, said on May 1 […]
https://news.bitcoin.com/attackers-steal-1-6-million-in-digital-assets-from-defi-protocol-pike-finance/
Wyoming’s Republican Senator Cynthia Lummis has responded to the Department of Justice’s (DOJ) latest argument regarding non-custodial software. Lummis’s remarks follow the DOJ’s reply brief on the indictment against Tornado Cash developer Roman Storm’s motion to dismiss. Senator Lummis Questions DOJ’s Non-Custodial Wallet Stance, Cites Legal Misinterpretations Senator Cynthia Lummis, a staunch advocate of cryptocurrency, […]
https://news.bitcoin.com/wyoming-senator-slams-dojs-take-on-non-custodial-crypto-software-vows-to-protect-user-rights/
Department of Justice (DOJ) federal prosecutors from the Southern District of New York are investigating fintech company Block, formerly known as Square, for significant compliance failures in its transaction monitoring systems after a former employee revealed lapses that included processing transactions with sanctioned nations and groups linked to terrorism. Allegations against Block include handling transactions […]
https://news.bitcoin.com/jack-dorseys-block-faces-doj-probe-over-alleged-transactions-with-sanctioned-nations-and-terrorist-groups/
The total value locked (TVL) in decentralized applications (defi) experienced a 7% decrease, dropping $10 billion in April, with defi’s ecosystem ending the month at $138.6 billion despite a widespread outflow of funds from several blockchains, such as a significant drop in Avalance and Solana. Despite the overall downtrend, Bitcoin, Base (a Layer two blockchain […]
https://news.bitcoin.com/defis-tvl-declines-by-10-billion-in-april-despite-growth-in-bitcoin-and-newer-blockchains/
Former Binance CEO Changpeng Zhao (CZ) has expressed his gratitude to the crypto community for their support following his four-month U.S. prison sentence for pleading guilty to money laundering charges. “I will remain a passive investor (and holder) in crypto. Our industry has entered a new phase. Compliance is super important,” Zhao emphasized. CZ: Binance […]
https://news.bitcoin.com/former-binance-ceo-cz-i-will-do-my-time-crypto-industry-has-entered-a-new-phase/
On Wednesday, May 1, 2024, the U.S. Federal Reserve chose to maintain the benchmark interest rates at their highest in 23 years. The Federal Open Market Committee (FOMC) members noted that although inflation has subsided, it still “remains elevated.” No Change in Federal Funds Rate; Fed Continues Watchful Eye on Inflation Risks On Wednesday, the […]
https://news.bitcoin.com/federal-reserve-holds-rates-steady-amid-inflation-concerns-outlook-remains-uncertain/
On Tuesday, U.S. spot bitcoin exchange-traded funds (ETFs) registered their fifth consecutive day of net withdrawals, documenting a substantial $161.6 million in negative outflows. Over the last two days, Grayscale’s Bitcoin Trust (GBTC) has offloaded 1,731.56 BTC, diminishing its reserves to 296,713.90 BTC. Bitcoin ETFs Continue to See Persistent Outflows Since April 24, 2024, U.S. […]
https://news.bitcoin.com/us-spot-bitcoin-etfs-report-5-straight-days-of-outflows-totaling-635-million/
Bitcoin’s technical analysis reveals a protracted bearish trend, reflecting significant selling pressure and resistance to upward movement. With today’s price standing between $57,505 and $58,059 at 8 a.m. ET, oscillators and moving averages predominantly suggest a continuation of this decline. Bitcoin On the BTC/USD daily chart, the trajectory of lower highs and lower lows underscores […]
https://news.bitcoin.com/bitcoin-technical-analysis-uncertainty-looms-as-bearish-patterns-persist/
PRESS RELEASE. Bitlight Labs Launches Public Release of Bitlight Wallet, the First Self-Custodial Bitcoin Wallet Supporting RGB Assets Bitlight Labs, a pioneer in RGB protocol and Lightning Network infrastructure development and a board member of the LNP/BP Association, announced the launch of its flagship product, Bitlight Wallet, on April 27, 2024, at 14:00 UTC. Bitlight […]
https://news.bitcoin.com/bitlight-labs-launches-public-release-of-bitlight-wallet-the-first-self-custodial-bitcoin-wallet-supporting-rgb-assets/
The Central Bank of Nigeria has directed four fintech companies to cease the creation of new accounts, citing their potential use by cryptocurrency traders. An executive from one of the affected fintech companies has associated the Central Bank’s directive with a current audit of the Know Your Customer (KYC) procedures implemented by these firms. Fintech […]
https://news.bitcoin.com/nigeria-cryptocurrency-clampdown-central-bank-directs-fintech-firms-to-stop-opening-new-accounts/
Tether, the giant behind the world’s largest stablecoin USDT, announced a $200 million strategic investment in Blackrock Neurotech, a brain-interface company. The investment also marks the launch of Evo, a new business division for the company that will examine investments in initiatives that merge tech and human potential. Tether Dabbles in Biotech, Acquires $200 Million […]
https://news.bitcoin.com/tether-invests-200-million-in-blackrock-neurotech-launches-evo-division/
U.S. House Financial Services Committee Chairman Patrick McHenry has slammed both the U.S. Securities and Exchange Commission (SEC) and Chair Gary Gensler regarding the SEC’s investigation into ethereum, suggesting that ether might be classified as a security. Additionally, the lawmaker emphasized that Gensler intentionally misled Congress on the issue. ‘Chair Gensler Himself Misled Congress’ The […]
https://news.bitcoin.com/us-lawmaker-slams-secs-investigation-of-ethereum-says-chair-gensler-intentionally-misled-congress/
On April 30, 2024, the U.S. Department of Justice (DOJ) detained Roger Ver, a trailblazing investor in bitcoin, on accusations of tax evasion and submitting fraudulent tax returns. The following update is accompanied by a statement from Bitcoin.com regarding the allegations against the company’s founder. Bitcoin Investor Roger Ver Charged With Tax Evasion According to […]
https://news.bitcoin.com/bitcoin-com-addresses-charges-against-early-investor-and-founder-roger-ver/
On Tuesday, April 30, 2024, Changpeng Zhao (CZ), formerly the CEO of Binance, was sentenced in a Seattle courtroom for his compliance failures at the cryptocurrency exchange. The sentencing was first covered by Nikhilesh De and Danny Nelson of Coindesk, who reported directly from the courthouse. Per Nikhilesh De’s X thread, the proceedings began with […]
https://news.bitcoin.com/former-binance-boss-changpeng-zhao-sentenced-to-4-months-in-jail/
The Middle East and North Africa (MENA) lead the world in the adoption of blockchain and cryptocurrencies because governments in the region actively promote digital transformation in their strategic future visions, according to Faisal Al Monai, chairman and co-founder of Droppgroup. This commitment by governments in the region “creates a favourable environment for the growth […]
https://news.bitcoin.com/faisal-al-monai-convergence-of-ai-and-blockchain-is-a-solution-to-data-integrity-issues-in-ai-model-training/
Aave Labs proposed a significant upgrade to its protocol, aimed at enhancing features like its stablecoin GHO, introducing a Unified Liquidity Layer for better integration, and improving the protocol’s architecture for cross-chain liquidity across both Ethereum and non-EVM layer-1 platforms. The update also focuses on automatizing interest rates based on market conditions with Chainlink data […]
https://news.bitcoin.com/aave-labs-unveils-ambitious-plans-for-protocol-v4-enhancing-gho-stability-and-cross-chain-liquidity/
Alliance Resource Partners (ARLP), a coal mining company in the U.S., recently disclosed its use of underutilized electricity loads for bitcoin mining. Cary Marshall, the company’s CFO, revealed that ARLP concluded the first quarter of 2024 with an approximate total of 425 bitcoins. Marshall also stated that during the first quarter, ARLP mined 61 bitcoins […]
https://news.bitcoin.com/us-coal-miner-uses-excess-power-to-mine-btc-earns-61-coins-in-q1-2024/
Microstrategy has introduced a new enterprise decentralized identity platform, Microstrategy Orange, during the Bitcoin for Corporations segment at Microstrategy World 2024 event in Las Vegas. Microstrategy Intends to Leverage the Bitcoin Blockchain for Identity Management According to an unofficial draft on Github, the Orange platform leverages the Bitcoin Inscription DID method (did:btc), which incorporates data […]
https://news.bitcoin.com/microstrategy-plans-to-launch-a-decentralized-identity-solution-on-bitcoin/
Economist and gold advocate Peter Schiff has declared bitcoin to be in a bear market, despite the recent surge in interest in spot bitcoin exchange-traded funds (ETFs). Additionally, he cautioned that economic data provides conclusive evidence that stagflation is not merely a future prospect for the U.S. economy, “but already a current reality.” Peter Schiff […]
https://news.bitcoin.com/peter-schiff-declares-bitcoin-in-bear-market-amid-us-economys-stagflation-reality/
In April, bitcoin miners amassed the second-highest monthly revenue of the past year, following the unprecedented earnings in March. In total, they collected $1.79 billion, which, although $220 million less than the previous month, still exceeded the revenues of December 2023, which totaled $1.56 billion. Bitcoin Miners Recorded Strong Revenue Last Month On May 1, […]
https://news.bitcoin.com/bitcoin-miners-log-second-highest-monthly-revenue-in-april-despite-falling-hash-value/
Sales of non-fungible tokens (NFTs) experienced a 31.26% decline in April from the revenues recorded in March. Last month, statistics show that NFT transactions across several markets totaled approximately $1.15 billion in sales. NFT Revenues Shrink in April, Certain Bitcoin Collections Buck the Trend As April concluded and May commenced, data reveals that NFT sales […]
https://news.bitcoin.com/nft-sales-dip-over-31-in-april-ethereum-solana-experience-sharp-declines/
During the widespread downturn in the cryptocurrency markets, publicly listed companies within the sector such as Coinbase, Microstrategy, and bitcoin mining enterprises have experienced notable declines in their stock values. Shares of Coinbase have fallen by over 21% since last month, and in the same period, Marathon Digital Holdings’ shares have dropped more than 28% […]
https://news.bitcoin.com/crypto-market-downturn-hits-coinbase-microstrategy-and-mining-stocks-hard/
Approximately 50 users of Beribit, a Russian cryptocurrency exchange, recently tried to storm the company’s Moscow offices to demand their digital assets. Beribit’s management has attributed the delay in processing withdrawal requests to an audit initiated following the discovery of discrepancies in the exchange’s balance sheet. Balance Sheet Discrepancies About 50 users of the Russian […]
https://news.bitcoin.com/russian-crypto-exchange-unable-to-process-withdrawals-angry-users-try-to-storm-offices/
Nikita Zhavoronkov, the lead developer of Blockchair, a cryptocurrency block explorer, has expressed his concerns about Bitcoin’s dwindling security budget. Zhavoronkov stated that the network needs to experience sustained high fees to offset the security impact of the latest halving. After the issuance of Runes following the halving, fees have returned to normal levels. Blockchair’s […]
https://news.bitcoin.com/blockchairs-lead-developer-expresses-concerns-over-bitcoins-security-budget/
The total value locked (TVL) in real-world asset (RWA) tokenization protocols has seen a remarkable surge of almost 60% since February, reaching a new high of almost $8 billion as of April 26, according to a report by blockchain analytics and research firm Messari. This growth is attributed to a market preference for debt-based, high-yield […]
https://news.bitcoin.com/real-world-assets-hits-new-peak-with-8-billion-locked-reports-messari/
Animoca Brands, a Hong Kong-based game software company, has announced its partnership with the Opal Foundation to enter the Bitcoin ecosystem, leveraging the Opal Protocol to develop the largest Web3 ecosystem encompassing gaming, Defi, entertainment, education, and culture. The initiative, backed by the BLIF token and propelled by the recent introduction of NFTs via ordinals […]
https://news.bitcoin.com/animoca-brands-joins-forces-with-opal-foundation-to-build-expansive-web3-ecosystem-on-bitcoin/
With cryptocurrency values on the decline and bitcoin down 13% from a month ago, British financial expert Raoul Pal predicts a rebound during the “Crypto Summer.” According to Pal, this rise will generate widespread excitement, and “everything will get caught up in euphoria.” British Financial Guru Spells Out Next Big Crypto Wave: ‘Full Mania’ Expected […]
https://news.bitcoin.com/raoul-pal-signals-banana-zone-rally-predicts-strong-crypto-summer-for-digital-assets/
The recent actions by the Department of Justice (DOJ) against non-custodial crypto wallet developers have sparked controversy and concern within the cryptocurrency community. According to Coin Center, these charges mark a significant shift from previous U.S. policies regarding money transmission, potentially impacting the liberty and privacy rights of developers and users alike. Coin Center: DOJ […]
https://news.bitcoin.com/coin-center-warns-of-doj-overreach-in-tornado-cash-samourai-wallet-cases/
Russia is preparing to enact a ban on the organization of cryptocurrency exchanges in the country via the approval of a bill that regulates mining activities. According to statements made by Russian Duma Financial Market Chairman Anatoly Aksakov, digital financial assets like the digital ruble will be allowed to circulate. State Duma to Enact Ban […]
https://news.bitcoin.com/russia-to-enact-a-ban-on-domestic-operations-of-cryptocurrency-exchanges/