Mainstream Acceptance The London Stock Exchange plans to accept applications for Bitcoin and Ethereum Exchange-Traded Notes (ETNs), indicating growing institutional interest in cryptocurrencies. Short Squeeze Short sellers who bet against Bitcoin were forced to buy back their positions as the price surged, further fueling the rally. Capital Influx Stablecoin Tether (USDT) saw significant minting, suggesting…
Bitcoin transaction fees have skyrocketed, doubling in just a week as the market surges towards $70,000. Ordinals: Driving the Fee Surge The rise in Ordinals transactions has been a major factor in the fee surge. Ordinals are a new type of transaction that allows users to inscribe data onto the Bitcoin blockchain. As the excitement…
Increased Token Burning Shiba Inu is burning a significant number of its tokens, with the burn rate increasing by over 300% in the past day. This initiative aims to reduce the token’s supply, making it more valuable and potentially increasing its price. Recent Burn Transactions Three large burn transactions were responsible for the surge in…
Bullish Outlook for Crypto Market As Bitcoin reaches new highs, analysts are predicting a major bull run for the cryptocurrency market. Scott Melker, known as “The Wolf of Wall Streets,” believes we’re in the early stages of a surge for Bitcoin and other altcoins. Potential for a Market Bubble Melker anticipates a strong market bubble,…
Admission Criteria The London Stock Exchange (LSE) will start accepting applications for Bitcoin and Ethereum Exchange Traded Notes (ETNs) in Q2 2024. These ETNs will: Track the performance of Bitcoin and Ethereum during London trading hours. Be physically backed by the underlying crypto assets. Not be leveraged (no borrowing). Require the underlying crypto assets to…
From the Shadows to the Future Former BlockFi CEO Zac Prince has finally broken his silence on the company’s bankruptcy. He explains that his silence was strategic, allowing the process to unfold without distractions. BlockFi’s Triumph in Bankruptcy Despite the turmoil, BlockFi’s bankruptcy has been surprisingly swift and cost-effective compared to other crypto companies. Prince…
A former JPMorgan Chase employee in Columbus, Ohio, Prince Oduro, has been sentenced to 8.5 years in prison for stealing $1.8 million from customers and victims of an elaborate romance scam. Customer Theft While working at JPMorgan Chase, Oduro accessed the bank information of at least five customers and transferred their funds to PayPal accounts….
Crypto analyst Rekt Capital warns that Bitcoin (BTC) is approaching a critical point in its market cycle that has historically led to price corrections. Danger Zone Approaching According to Rekt Capital, Bitcoin typically enters a “danger zone” 2 to 4 weeks before the halving event, when miners’ BTC rewards are halved. This zone is known…
Attorneys General Demand Halt to Alleged Debanking Practices Sixteen Republican attorneys general have accused Wells Fargo of abruptly closing customers’ accounts based on their political views. In a letter to CEO Charles Scharf, the AGs allege that the bank has engaged in “debanking” practices that violate state laws. Alleged Political Bias The AGs claim that…
Surge and Investor Sentiment Bitcoin has shattered records, briefly surpassing $70,000. This surge is attributed to a wave of investor enthusiasm and the introduction of spot bitcoin exchange-traded funds (ETFs) in the US. These ETFs have attracted significant interest, with $900 million invested this week alone. Bitcoin Halving Event The upcoming halving event, where the…
