Indonesian police authorities have reportedly closed down 10 Bitcoin mining operations, accusing the miners of electricity theft amounting to nearly $1 million. The North Sumatra Police Force took action against a multi-site Bitcoin mining operation across 10 locations in Indonesia. Police confiscated 1,134 Bitcoin mining machines, 11 meters of electrical cable, and computer equipment. The Chief of North...
Bitcoin Topped $45,000 for First Time in Nearly Two Years Suvashree Ghosh Tue, January 2, 2024 at 8:08 PM GMT+8 (Bloomberg) -- Bitcoin surpassed $45,000 for the first time in nearly two years as anticipation of an approval of an exchange-traded fund investing directly in the biggest token intensified. Most Read from Bloomberg Iran Sends Warship to Red Sea...
BlackRock disclosed JPMorgan Securities and Jane Street as intended participants for its proposed Bitcoin ETF before the SEC decision. The asset management giant is set to collaborate with the participants, pending approval from the Securities and Exchange Commission (SEC). Authorized participants play a crucial role in ETF operations, as they can create and redeem shares. This involves exchanging ETF...
The asset manager submitted an amended S-1 Form with the SEC on deadline day, switching to cash-only subscriptions like most issuers seeking spot Bitcoin ETF approval. VanEck’s update did not name the authorized participants for its VanEck Bitcoin Trust, an exchange-traded fund aiming to invest in the largest cryptocurrency by market cap at its spot price. https://twitter.com/BitcoinMagazine/status/1740788284253520368 Several other issuers...
Coinbase has changed its head of custody, potentially as a strategic decision for handling services related to spot Bitcoin ETFs. The departure of Aaron Schnarch, the former Chief Executive Officer of Coinbase Custody, marks a pivotal shift in the company’s leadership. Schnarch’s position has been filled by Rick Schonberg, who joined Coinbase in 2021 and brings experience from...
There’s been a noticeable uptick in trading cryptocurrency options and futures since Christmas, primarily driven by traditional financial institutions. This increase is largely in anticipation of a key decision by U.S. regulatory authorities regarding the approval or disapproval of exchange-traded funds (ETFs) focused on direct investments in Bitcoin. As reported by Bloomberg, recent data indicates that Bitcoin...
Singapore’s prime minister Lee Hsien Loong warned the public about a deepfake video, depicting him promoting a crypto scam ‘envisioned by Elon Musk.’ In an X post on Dec. 29, Singapore‘s prime minister Lee Hsien Loong has issued a public warning that addressed the emergence of deepfake videos depicting him promoting crypto scams with the help of artificial intelligence...
One of the largest cryptocurrency exchanges, OKX, announced delisting several trading pairs at once. According to the Dec. 29 announcement, OKX will delist stablecoin USD Coin (USDC), Tether (USDT), and Bitcoin (BTC) trading pairs with several prominent privacy-focused cryptocurrencies, including Monero (XMR) and Dash (DASH). The delisting will take place on Jan. 4 and 5, 2024. The exact...
One of the standout performers in the crypto market this year has been Solana (CRYPTO: SOL), which is up almost 1,000% in 2023. On the strength of its recent performance, Solana has become the fifth-most valuable cryptocurrency in the world, and some analysts are even predicting that it could soon surpass Ethereum (CRYPTO: ETH) in terms of market cap. What's all...
Despite its nickname, Hump Day did not provide any impediment to the seemingly unstoppable cryptocurrency rally. A top crypto bull made a big move, and in response, his chosen coin's upward momentum continued. Unsurprisingly, investors in altcoins and crypto mining stocks eagerly followed suit. Mining sector bellwether Marathon Digital Holdings (NASDAQ: MARA) closed the day nearly 15% in positive...
