India’s booming crypto market faces hurdles

Industry insiders have expressed concerns about the high crypto tax in India despite the notable surge in Bitcoin prices, which led to significantly increased demand on cryptocurrency exchanges and substantial rises in trading volumes. CoinDCX, a popular Indian cryptocurrency platform, saw its trading volumes multiply fivefold within the past month, escalating from $5 million at the...

Binance launches investigation into BOME insider trading allegations

Crypto exchange Binance recently announced the initiation of a detailed investigation into the claims concerning Book of Meme (BOME), a Solana-based meme coin. This move came in response to allegations and community discussions about possible insider trading linked to the “BOME rat warehouse” incident. The exchange made an official statement on the X platform highlighting its commitment to market fairness...

Bitcoin’s fourth halving might lead to mining power centralization, Bitfinex says

Bitfinex warns of potential centralization of mining power amid concerns over the upcoming Bitcoin’s halving, which could increase financial pressure on small miners. Bitcoin’s upcoming fourth halving scheduled for around Apr. 20 might force smaller miners to exit the market, with remaining mining operations likely to be accessible only by publicly traded miners. According to a recent report by Bitfinex, the...

ETC Group, CoinShares, WisdomTree set to list crypto ETPs on London Stock Exchange

London braces for an influx of crypto exchange-traded products, sparking enthusiasm among large crypto ETF providers. As London prepares to embrace a new era of crypto exchange-traded products (ETPs), financial giants like CoinShares, WisdomTree, and ETC Group, are eagerly eyeing opportunities to list their offerings on the London Stock Exchange (LSE), the Financial Times has learned. The relaxation of regulations...

Jury convicts IcomTech promoters in crypto ponzi scheme, faces 20 years

A New York District Court jury convicted two men associated with IcomTech, a company that presented itself as specializing in cryptocurrency mining and trading, of wire fraud conspiracy. The individuals, David Brend and Gustavo Rodriguez, now potentially face up to 20 years in prison for their involvement in what was revealed to be a “Ponzi” scheme. In a verdict delivered on...

Binance CEO sees Bitcoin soaring above $80k as demand continues to come

Binance CEO Richard Teng predicts Bitcoin’s value will surpass the $80,000 mark amid increasing investments in crypto-backed exchange-traded funds. Binance CEO Richard Teng foresees Bitcoin’s price surpassing the $80,000 mark amid a surge in investments in crypto-backed exchange-traded funds (ETFs), Bloomberg reports. Teng, who became Binance CEO following the departure of the exchange’s founder Changpeng Zhao in November 2023, emphasized the...

Reddit IPO oversubscribed 5x, targets $6.5b valuation: report

Reddit appears set to reach a $6.5 billion valuation with its initial public offering (IPO), according to Reuters. The San Francisco-based social media company’s IPO is currently between four and five times oversubscribed, the report continued, citing unnamed sources. This figure marks a decrease from the $10 billion valuation achieved in its last fundraising round in August...

El Salvador moves $386m worth of Bitcoin into cold storage

El Salvador has shifted a significant portion of its Bitcoin (BTC) assets into a secure cold wallet, as announced by President Nayib Bukele. The Central American nation, under newly re-elected President Nayib Bukele’s guidance, revealed its considerable Bitcoin holdings, totaling 5,689.68 BTC, currently valued at over $386 million. This relocation into an offline vault within the nation’s borders...

Marathon Digital CEO predicts $43k Bitcoin break-even post-halving

Marathon Digital Holdings CEO Fred Thiel predicts that the break-even point for Bitcoin mining will climb to about $43,000 following the upcoming halving event. This significant increase from the current industry average of $23,000 underscores the potential impact on miners’ profitability. Thiel shared these insights during a Bloomberg Television interview, highlighting the challenges and adjustments miners will face. Marathon...

JPMorgan: Bitcoin outpaces gold in investor portfolios

In a recent analysis by JPMorgan, Bitcoin has surpassed gold in terms of investor portfolio allocation when adjusted for volatility. Nikolaos Panigirtzoglou, a managing director at JPMorgan, stated that Bitcoin’s (BTC) allocation is 3.7 times greater than that of gold, attributing this shift to the significant inflows into spot Bitcoin ETFs. Since the approval of these ETFs in...