Crypto | Bitcoin | Blockchain

2024-03-15 19:05:00 Bitcoin’s sudden price correction wipes out over $666 million from long traders in 24 hours

Bitcoin experienced a heavy price correction during Asian trading hours, dipping to a multi-week low of under $66,000, which resulted in significant losses for traders betting on further price increases. Over the past weeks, the flagship digital asset, fueled by the buzz surrounding the spot Bitcoin exchange-traded funds (ETFs), had been on an upward trend that culminated in a new all-time high of $73,750 yesterday, Mar. 14.

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2024-03-15 13:05:00 JPMorgan says bitcoin rally 'propagated' by retail and speculative institutional investors

The recent surge in bitcoin and the broader crypto market is primarily driven by retail and speculative institutional investors buying both gold and bitcoin futures rather than investors shifting from gold to bitcoin, according to JPMorgan analysts. Since their launch earlier this year, spot bitcoin exchange-traded funds have seen heavy inflows, while gold ETFs have witnessed outflows.

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2024-03-14 21:15:28 Bitcoin ETFs are going to surpass gold's, says ETF expert — unless there’s a black swan event

Bitcoin ETFs have seen far higher flows and assets than most predicted ahead of launch, and this unparalleled success has analysts speculating about how high they might go. Having started with $28.9 billion of assets when they launched — as Grayscale’s flagship Bitcoin Trust was converted across along with its assets — the 11 spot bitcoin ETFs now have a combined AUM of $61 billion. On the back of heavy inflows and a rising bitcoin price, their size is heading toward that of gold ETFs, which have a combined AUM of around $97 billion.

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2024-03-14 13:05:19 Crypto.com Fined $3.1M by Dutch Regulator for Operating Without Registration

Crypto exchange Crypto.com was hit with a fine of 2.85 million euros ($3.12 million) last October by the Dutch central bank, the regulator announced on Wednesday. The fine was imposed on Foris DAX MT Limited (DAX MT), which runs Crypto.com, for offering services in the Netherlands without registering with De Nederlandsche Bank (DNB), the notice said. The penalty applied to a period of around two years before the platform registered with the regulator in July 2023.

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2024-03-13 23:10:01 BlackRock’s spot bitcoin ETF crosses $15 billion in AUM amid record inflow and volume

BlackRock’s IBIT spot bitcoin exchange-traded fund reached $15 billion in assets under management on March 12 after securing its largest daily inflows since it launched exactly two months earlier. In bitcoin terms, BlackRock’s IBIT fund has reached more than 212,000 ($15.4 billion) under management, while Fidelity’s FBTC has surpassed 126,000 bitcoin ($9.2 billion) in assets, according to data from BitMEX Research. Ark Invest 21 Shares’ ARKB is in third with over 38,000 bitcoin ($2.8 billion) in assets.

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2024-03-13 09:05:12 Bitcoin Fog Founder Convicted of Money Laundering

The founder of Bitcoin Fog, a long-running cryptocurrency mixer, was convicted by a federal jury in Washington on Tuesday of facilitating the laundering of over 1.2 million bitcoins (BTC) – worth about $860 million at today’s prices – tied to darknet marketplaces. Los Angeles International Airport in April 2021 and charged with money laundering, operating an unlicensed money transmitting business, and money transmission without a license.

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2024-03-12 23:02:02 Two Binance executives detained in Nigeria for two weeks: reports

Two Binance executives — Tigran Gambaryan and Nadeem Anjarwalla — have been detained for the past two weeks in Nigeria against their will, amid accusations of the exchange making illegal transaction profits locally, according to multiple media reports. Nigerian authorities seized their passports, but the officials did not inform the two of their charges, according to Wired.

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2024-03-12 11:05:01 Coinbase asks appeals court to direct SEC to begin writing rules for crypto

An appeals court should direct the Securities and Exchange Commission to begin a "long-overdue rulemaking process," Coinbase argued on Monday. The Securities and Exchange Commission violated the Administrative Procedures Act by not engaging in rulemaking and for not providing a detailed reason why it denied Coinbase's rulemaking petition, Coinbase said in its opening brief filed on Monday in the Court of Appeals for the Third Circuit.

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2024-03-11 21:01:17 Bloomberg analysts substantially lower likelihood of spot Ethereum ETF approval in May to 30%

Bloomberg ETF analysts have dropped their chances of a spot Ethereum ETF approval in May to 30%. In January, Balchunas said there was a 70% chance of approval by May, while his colleague James Seyffart had given a 60-65% estimate. "This Ethereum ETF cycle feels like the opposite of Bitcoin ETF approval odds at the moment. The more we see/hear (and don't see/hear) the less optimistic I become," said Seyffart on X. "We're ~73 days from the deadline and there really seems to be little to no movement."

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2024-03-10 21:55:29 No ‘Flippening’ Expected, but Ethereum Poised to Outperform Bitcoin: VanEck Executive

The introduction of spot Bitcoin ETFs has attracted a fresh influx of investors, driving a notable increase in trading volume. This trend has generated a wave of optimism that extends beyond Bitcoin itself. But this hasn’t made the launch of a spot Ethereum ETF any earlier as the US Securities and Exchange Commission (SEC) is currently evaluating the possibility of such a fund. Despite the uncertainty, experts appear to be bullish on the trajectory of the world’s largest altcoin.

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