Author: cointechies
Several states in the US are already considering the idea of a strategic Bitcoin reserve, as advocates await a federal push from Donald Trump. President-elect Donald Trump has now set off on the campaign trail for the November 2024 elections several big promises to the crypto industry. Still, after the election, nothing was talked about as much as his intention to launch a strategic direction for the United States Bitcoin reserve. However, as experts continue to debate the feasibility of such a move at the federal level and its potential impact on the market, some states may be looking to…
The CEO of digital asset analytics firm CryptoQuant believes a national strategic Bitcoin (BTC) reserve could offset US debt. Ki Young Ju tells his 389,600 followers on the social media platform “This year alone, $352 billion in inflows increased market capitalization by $1 trillion. However, using a pumpable asset like Bitcoin to offset dollar-denominated debt – rather than gold or dollars – could make it difficult to reach creditor consensus. For Bitcoin to achieve wider market acceptance, Bitcoin must achieve global, nationwide authority on par with gold. Establishing a Bitcoin Strategic Reserve (SBR) could serve as a symbolic first step.…
For over two years, thousands of Indian investors suffered uncertainty and frustration as BitBNS, a major cryptocurrency exchange, froze withdrawals and prevented customers from accessing their funds. But in a long-awaited development, the exchange has now announced the successful processing of 541 withdrawals between December 19 and 24, 2024, signaling the first tangible progress in addressing user concerns. The announcement of processed withdrawals offers a glimmer of hope for the thousands of affected investors, but it raises more questions than it answers. Source: X With 541 withdrawals processed in six days, the exchange is yet to clarify the total number…
Companies in Russia are using Bitcoin and other crypto assets in international trade as part of a broader effort to circumvent Western sanctions. Finance Minister Anton Siluanov confirmed this development in a statement today. Siluanov noted that changes in the law this year have allowed the use of cryptocurrencies for foreign payments. The move comes as Russia faces increasing difficulty trading with key partners such as China due to increased caution from banks. These institutions shy away from transactions with Russia because they fear possible repercussions from Western regulators. Changes in the law open the way for the use of…
Despite the ongoing price consolidation, more and more Cardano (ADA) addresses are currently recording profits from their investments. For comparison: ADA is one of the biggest victims of the current market turmoil. After recovering above $1 on December 12th to reach $1.18, Cardano faced another period of intense selling pressure and fell to the one-month floor of $0.7618 on December 20th he recovered slightly. Cardano records profits despite price decline Despite the slight recovery, Cardano is still going strong below at press time the psychologically relevant threshold of $1 and is down 15.39% in December. However, this is turbulent phase…
Bitget’s native token, BGB, is rising hugely to 23rd place in the global crypto rankings after an explosive 243% rise last month. BGB has performed incredibly in the final days of 2024, rising more than 200% in the last 30 days. The token, which was around $1.6 last month, has risen above $5 in the hours before press time. Excellent BGB performance Prominent Chinese reporter Colin Wu first drew attention to BGB’s impressive performance in a tweet today. He noted that the token has risen to 25th place in the global crypto rankings. At that time, BGB’s market cap was…
Crypto.com has launched a new US trust company, Crypto.com Custody Trust Company, marking a major milestone in its ongoing expansion efforts in North America. The company, which has made progress in obtaining licenses in various jurisdictions around the world, is now able to offer institutional digital asset custody services to US and Canadian institutions as well as high net worth individuals. Expansion of presence in North America In a statement on December 23, Kris Marszalek, CEO and co-founder of Crypto.com, described the launch as part of a broader strategy to strengthen the exchange’s presence in two of the largest and…
Sui, a new entrant to the market, is doubling down on its attempt to surpass Shiba Inu in the crypto rankings as its market cap recently reached a new milestone. What is noteworthy is that this is how Shiba Inu did it regained bullish momentum after a notable correction last week. The second-largest meme coin by market cap is up nearly 4% in the last 24 hours, reflecting an overall market rally. Despite the recovery phase, SHIB has fallen three places in the market capitalization rankings over the past month. The uptrend in Avalanche, Chainlink and Toncoin has seen the…
According to blockchain security firm PeckShield, Tether has added the Ethereum address “0x88E6…4d47” to its blacklist. The blacklisted The wallet reportedly contains 13.144 million USDT on Ethereum and 2.66 million ROOST tokens on Base. Additionally, this address received 150 ETH in multiple transactions from “0x71B2…18a6,” a company known to have removed ROOST/WETH liquidity from the Base blockchain approximately nine months ago. Meanwhile, blockchain detective ZachXBT recently discovered highlighted a possible connection between the blacklist and a recent indictment of two California men: Gabriel Hay and Gavin Mayo. The US Department of Justice (DOJ) has accused them of orchestrating a $22…
Robinhood CEO Vlad Tenev predicts that stocks and other traditional financial assets (TradFi) will eventually move on-chain like cryptocurrencies. In a new interview with investor Anthony Pompliano, Tenev says the efficiency gains achieved by using blockchain technology make its adoption in traditional finance inevitable. He also predicts that US President-elect Donald Trump and his administration will issue policies that will accelerate the transition of stocks, private companies and real-world assets (RWAs) to the on-chain by tokenizing them. “What will happen is traditional stocks – and I think all of this will be accelerated by the new.” [Trump] Administration – will…