ARK Invest, one of the firms hoping to launch a spot Bitcoin exchange-traded fund (ETF) next year, is continuing to rake in the profits made from its large stash of Coinbase (COIN) stock. On Dec. 5, ARK dumped as many as 237,572 Coinbase shares from its three funds, according to a trade notification seen by
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Four United States senators have written to Federal Trade Commission (FTC) Chair Lina Khan requesting information on efforts taken by the FTC to track the use of artificial intelligence (AI) in scamming older Americans. In the letter addressed to Khan, U.S. Senators Robert Casey, Richard Blumenthal, John Fetterman and Kirsten Gillibrand highlighted the need to
Société Générale, France’s third-largest bank, has debuted its native euro-pegged stablecoin, making it one of the first European banking giants to venture into the stablecoin market. The EUR CoinVertible (EURCV) stablecoin will debut on the Luxembourg-based Bitstamp crypto exchange, the Financial Times reported. EURCV will be fully backed by the euro, allowing bank customers to participate
A bug fix on the Bitcoin network could put a stop to new Bitcoin Ordinals and BRC-20 tokens causing network congestion by “exploiting a vulnerability,” claims a Bitcoin Core developer. In a Dec. 6 X (formerly Twitter) post, developer Luke Dashjr said inscriptions — used by Ordinals and BRC-20 creators to embed data on satoshi’s
The Bitcoin Ordinals-based ORDI token has become the first BRC-20 token to top a $1 billion market capitalization after staging triple-digit monthly and weekly percentage gains. ORDI notched a new all-time high of over $65 on Dec. 5, surging more than 850% from around $6.80 on Nov. 5, according to CoinGecko data. ORDI is up 216%
DEBT Box and other defendants in a Securities and Exchange Commission lawsuit want the case tossed after the court found the agency lied to secure a temporary restraining order against them. “The SEC got this case wrong. Badly wrong,” lawyers for Digital Licensing Inc., which does business as DEBT Box, told Utah federal court Judge
Bitcoin (BTC) futures open interest has reached $5.2 billion on the global derivatives giant Chicago Mercantile Exchange (CME), $200 million shy of its late October 2021 all-time high. Open interest in CME’s Bitcoin futures has grown from $3.63 billion to $5.20 billion over the last 30 days, according to Coinglass data. The open interest surge
A new feature from Coinbase Wallet allows for the transfer of crypto through a link that can be sent through some of the most popular social media sites and messaging apps as the crypto exchange looks to make its service accessible to a wider market. “Users can now send money on any platform that they
The total market capitalization of the cryptocurrency market surged past $1.55 trillion on Dec. 5, driven by remarkable weekly gains of 14.5% for Bitcoin (BTC) and 11% for Ether (ETH). Notably, this milestone, marking the highest level in 19 months, propelled Bitcoin to become the world’s ninth-largest tradable asset, surpassing Meta’s $814 billion capitalization. Despite
Elon Musk’s X-linked AI modeler xAI has an agreement for the private sale of $865.3 million in unregistered equity securities, according to a filing with the United States Securities and Exchange Commission (SEC) made on Dec. 5. xAI filed the SEC’s Form D to allow it to engage in the private sale of securities without
Crypto investor Ryan Sean Adams argued on December 4 that Ethereum’s (ETH) current valuation of around $2,200 is almost “hilarious” given the strengthening on-chain activity and the blockchain’s role in the sphere. Venture Capitalist: Here’s Why Ethereum Is Grossly Undervalued Adams cited data like the first smart contract platform generating billions annually in “gas” fees, transitioning to
The United States Securities and Exchange Commission (SEC) has delayed its decision on whether to approve or disapprove of a spot Ethereum exchange-traded fund, or ETF, offering from asset manager Grayscale. In a Dec. 5 notice, the SEC said it would designate a longer period on whether to approve or disapprove of a proposed rule
The New Jersey General Assembly may consider a bill that would decide when a digital asset or virtual currency is a security under state law. All virtual currencies issued and sold to institutional investors would be considered securities in the U.S. state of New Jersey under the bill introduced by Democratic Assemblyman Herb Conaway, Jr.
Representative Patrick McHenry, chair of the United States House Financial Services Committee and a proponent of many pieces of crypto-focused legislation, will be retiring from Congress. In a Dec. 5 statement, McHenry said he would not seek reelection to the U.S. House of Representatives and is expected to leave Congress in January 2025. He will
Bitcoin (BTC) clipped $44,000 later on Dec. 5 as the Wall Street trading session delivered more snap BTC price gains. BTC/USD 1-hour chart. Source: TradingView Bitcoin applies more pressure to the bears Data from Cointelegraph Markets Pro and TradingView followed a fresh round of upside for Bitcoin as it outpaced altcoins to reach $44,011 on
Bitcoin (BTC) returned above $42,000 on Dec. 5 as analysis remained suspicious of market manipulation. BTC/USD 1-hour chart. Source: TradingView Analysis: New Bitcoin bids not “organic” Data from Cointelegraph Markets Pro and TradingView showed a BTC price rebound taking BTC/USD to highs of $42,498 on Bitstamp. These beat the 19-month peak set the day prior,
Lawyers representing the United States Securities and Exchange Commission (SEC) requested the judge in its civil case against Terraform Labs and co-founder Do Kwon determine whether certain crypto assets are securities rather than a jury. In a Dec. 4 filing in U.S. District Court for the Southern District of New York, the SEC argued that
Bitcoin infrastructure developer Nostr Assets has paused deposits following record-high user activity. According to a Dec. 5 announcement posted on Telegram, Nostr Assets developers warned, “Please await further announcements and do not attempt to deposit into NostrAssets for the time being.” The service, which allows users to transact Satoshis, or or 1/100 millionth of a
The Swiss city of Lugano is enhancing the local adoption of Bitcoin (BTC) by enabling citizens and companies to pay for municipal services and taxes with cryptocurrency. The city of Lugano officially announced on Dec. 5 that the local administration now accepts cryptocurrency payments for taxes and all other community fees. Starting immediately, Lugano will
PayPal’s introduction of its native stablecoin, PayPal USD (PYUSD), has sparked heated debates within the crypto industry regarding its possible sway on payments and wider crypto adoption. While this step seems to be a big jump toward accepting cryptocurrencies in regular finance, some industry observers advise caution. They underline the hurdles and limitations that could
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