Unrealized Losses Force Major Sell-Off Norinchukin Bank, a major Japanese bank, has announced plans to sell off $63 billion worth of US and European government bonds. This move aims to reduce massive unrealized losses on the bank’s balance sheet. The bank’s total assets amount to $681.6 billion. By March 2024, it expects to complete the…
Trading Support Major crypto exchanges like Coinbase and Binance have added support for ZRO, the native token of the LayerZero project. This “omnichain” protocol aims to connect different blockchains. Proof-of-Donation LayerZero has introduced a “proof-of-donation” mechanism to claim ZRO. Users can donate a small amount of cryptocurrency to support the Protocol Guild, which funds Ethereum…
Cryptocurrency exchange Gemini’s co-founders, Tyler and Cameron Winklevoss, have each donated $1 million worth of Bitcoin to Republican presidential candidate Donald Trump. Pro-Crypto Stances The billionaires cited Trump’s support for cryptocurrencies as their reason for donating and voting for him. Biden’s ‘War on Crypto’ Cameron Winklevoss accused the Biden administration of waging a “war on…
Mexican drug cartels have been using Bitcoin, Ethereum, Monero, and USDT to buy ingredients for producing fentanyl, a deadly synthetic opioid. This information comes from a report by the US Financial Crimes Enforcement Network (FinCEN). Cryptocurrency Transactions Cartels purchase fentanyl precursors, pill presses, and other equipment from Chinese companies using cryptocurrencies and other methods. They…
Bernstein Analysts Revise Bitcoin Target Analysts at Bernstein have raised their Bitcoin target price to $200,000 by the end of 2025. This is a significant increase from their previous target of $150,000. Spot Bitcoin ETFs as a Catalyst Bernstein analysts believe that the influx of Spot Bitcoin ETFs will be the key driver behind this…
An expert believes Bitcoin has historically recovered from downturns like the current one. Miner Capitulation and Bitcoin’s Price Analyst Willy Woo explains that Bitcoin’s hashrate (a measure of mining power) is linked to its price recovery. When miners find it profitable to mine Bitcoin, the hashrate increases. When it becomes less profitable, miners may disconnect…
The Shiba Inu burn rate has taken a major leap, with a whopping 1,166% increase in just one day! Increased Activity and Token Burn According to Shibburn, the official burn tracker, the burn rate has spiked significantly. This means more people are burning their Shiba Inu tokens, resulting in a total of 35.29 million tokens…
Identity Theft and Fake Exchange Accounts A 31-year-old Melbourne man has been sentenced to two years in prison for using fake IDs to create cryptocurrency exchange accounts. The Australian Federal Police (AFP) investigation, codenamed “Operation Stonefish,” uncovered the man’s fraudulent activities. Cybercrime and Cryptocurrency The case highlights the growing connection between cybercrime and cryptocurrency. The…
Despite recent price dips, analysts predict Bitcoin will soar to $100,000. Banking Crisis in the US Concerns are growing about the financial stability of US banks. A report reveals that 68 banks hold over $500 billion in unrealized losses, primarily from investment securities. This raises fears of potential market destabilization. Bitcoin as a Safe Haven…
Crypto analyst Jason Pizzino believes Bitcoin (BTC) is consolidating before a major price spike. Google Trends as a Gauge Pizzino uses Google search trends to track Bitcoin’s cycle. He compares current search volume to historical patterns, suggesting Bitcoin is in a similar consolidation phase as in 2020. Timeline for Action Pizzino predicts increased activity between…
