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2024-03-08 12:25:17 Uzbekistan taps Tether to boost crypto, blockchain development and regulation

Stablecoin issuer Tether Limited has entered a Memorandum of Understanding (MOU) with the Republic of Uzbekistan’s National Agency of Perspective Projects (NAPP) to develop a regulatory and legal framework for digital assets in the country, according to a March 7 press release. The agreement signifies a strategic effort to make Uzbekistan a central hub for blockchain and peer-to-peer telecommunication technologies, aiming to spark innovation and economic growth within the region.

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2024-03-07 20:05:00 Bitcoin accumulation phase ends as ETFs fuel new $100K BTC price target

Bitcoin is ending a year-long accumulation spree that began at the end of the 2022 bear market, data suggests. Figures from on-chain analytics firm Glassnode show BTC in accumulation addresses declining for the first time since the first quarter of 2023. Bitcoin hitting all-time highs this week may have sparked an instant sell-off, but behind the scenes, hodlers are already busy taking profits.

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2024-03-07 11:05:17 BlockFi reaches $875 million settlement with FTX, Alameda Research

Bankrupt cryptocurrency lender BlockFi has reached a $874.5 million in-principle settlement with FTX and Alameda Research estates, according to a Wednesday bankruptcy court filing. Upon court approval of the settlement, BlockFi — which was hit by the collapse of FTX in 2022 and filed for Chapter 11 bankruptcy soon after — will receive a customer claim against FTX worth $185.2 million and a claim of $689.3 million from FTX’s sister trading firm Alameda Research, according to the filing.

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2024-03-06 21:05:36 BlackRock’s Bitcoin ETF Added a Record 12.6K BTC in Tuesday's Carnage

The BlackRock iShares Bitcoin ETF (IBIT) gobbled up over $778 million worth of bitcoin (BTC) on Tuesday as the fund's investors apparently bought the dip in the world's largest crypto. IBIT added 12,600 bitcoin, breaking previous daily highs of around 10,000. Data from Nasdaq show that the fund recorded trading volumes of more than 107 million shares, or over $3.6 billion price-weighted, surpassing the previous record high of $3.3 billion from last week.

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2024-03-06 11:10:09 Bitcoin flash crash wipes $1B in ‘speculative excess’ from markets

Billions of dollars in leverage was wiped from the crypto market as Bitcoin plunged 14% in a few hours after briefly notching a new all-time high. Crypto traders using options and futures to gain exposure to Bitcoin are out of pocket a staggering $1 billion after the cryptocurrency crashed more than 14% from its new all-time high of $69,200 on March 5. The price of Bitcoin briefly notched a new all-time high just above $69,200 on March 5, only slightly higher than its previous peak of $69,044 in November 2021.

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2024-03-05 21:05:31 Osprey Bitcoin Trust Looking for a Buyer or Possible Merger with Bitcoin ETF

Osprey Bitcoin Trust, a closed-end bitcoin fund whose units are trading at a discount to its BTC holdings, said it's trying to sell itself to or merge with a bitcoin ETF, among other strategic alternatives. Osprey Bitcoin Trust became well known as a fierce rival to Grayscale's much-larger GBTC fund, which this year converted into an ETF. Osprey went as far as filing a lawsuit against Grayscale claiming the latter had been deceptively claiming its ETF conversion was a foregone conclusion.

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2024-03-04 22:55:00 Bitcoin market capitalization hits new all-time high after more than two years

The market capitalization of the world's foremost cryptocurrency, Bitcoin, has reached a new all-time high in U.S. dollar terms. Bitcoin's previous market capitalization peak was in November 2021, when it topped ~$1.302 trillion. It afterward declined to ~$297.309 billion a year later, in November 2022, before increasing to new heights today. A cryptocurrency's market capitalization is derived from multiplying the total number of coins or tokens in supply by the current spot price of a single coin or token.

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2024-03-04 12:20:00 Bitcoin price climbs above $64,000 briefly, BTC futures open interest hits all-time high

The price of bitcoin rose above the $64,000 mark at one stage on Monday morning in Asia, swinging around 7% away from the cryptocurrency’s all-time high set in November 2021, according to The Block’s Price Page. As of 9:30 a.m. Hong Kong time, the world’s largest cryptocurrency by market cap, traded at around $63,500, rising 3.4% in the last 24 hours. The GMCI 30 Index, measuring the performance of the top 30 cryptocurrencies, was at 137.39, up 2.21% in 24 hours.

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2024-03-03 23:35:26 “Bitcoin is Becoming an Alternative Global Currency”: Bloomberg Strategist

Bitcoin, the world’s most prominent digital asset, is steadily “becoming an alternative currency on a global basis”, according to Bloomberg strategist Mike McGlone. In a series of recent analyses, McGlone has highlighted key factors contributing to bitcoin’s surge towards the $70,000 mark, while also shedding light on its growing acceptance and role in the global financial landscape.

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