Crypto Account Manager

Nigerian artist Davido has been accused of perpetrating an “outright scam” after pocketing over $468,000 from selling his recently launched meme coin. A prominent Nigerian crypto enthusiast claims Davido’s actions create problems for many legitimate crypto businesses and startups operating in good faith. Davido Offloads Meme Coin Hours After Promoting It to Followers The Nigerian […] source https://news.bitcoin.com/nigerian-artist-davidos-meme-coin-plummets-shortly-after-he-pockets-474000-from-token-sale/

Following the landmark news of former President Donald Trump’s conviction on 34 counts related to a hush-money scheme allegedly influencing the 2016 election, data from the Polygon-powered prediction market Polymarket shows Trump still leading in forecast bets for the 2024 election. Convicted But Leading: Trump Tops 2024 Election Predictions on Polymarket According to Polymarket, Donald […] source https://news.bitcoin.com/conviction-fails-to-deter-donald-trumps-2024-election-odds-according-to-polymarket-bets/

Transak, a Web3 payments provider, has teamed up with blockchain development platform Cometh to introduce a streamlined fiat-to-Layer three (L3) onboarding solution. This new system reportedly simplifies the purchase of crypto assets directly on Cometh’s L3 blockchain, Arbitrum Orbit. Transak Partners With Cometh to Simplify Fiat-to-L3 Crypto Transactions According to the company’s announcement, Transak and […] source https://news.bitcoin.com/transak-and-cometh-launch-industry-first-fiat-to-layer-3-crypto-onboarding-solution/

PRESS RELEASE. Introducing HotDonkey, a revolutionary new memecoin set to redefine the cryptocurrency landscape. HotDonkey is more than just another digital currency; it is a vision, a movement, and a catalyst for transformative change in the world of finance. With its innovative approach, HotDonkey is poised to lead the way in the next generation of […] source https://news.bitcoin.com/ignite-your-investment-journey-with-hotdonkey-pre-sale-launch-be-a-part-of-the-hot-crypto-evolution/

Amidst the backdrop of this year’s skyrocketing BTC transaction fees and a congested network, the latest Binance Research report, “The Future of Bitcoin #3 – Scaling Bitcoin,” unveils several approaches to addressing Bitcoin scalability. As average onchain fees have climbed in 2024, Binance researchers say stakeholders across the ecosystem are poised to redefine Bitcoin’s infrastructure […] source https://news.bitcoin.com/bitcoins-scaling-dilemma-binance-report-sheds-light-on-btcs-enhancement-hurdles/

The Shiba Inu (SHIB) network development team has dramatically improved the Shibarium network, according to a post from the Shibarium network’s X account. The work reduces the token bridging time to Ethereum from seven days to roughly 45 minutes, aiming to enhance Shibarium’s operational efficiency and the overall user experience. This was accomplished by introducing […] source https://news.bitcoin.com/shibariums-new-checkpoint-mechanism-cuts-ethereum-bridging-time/

Singapore-based Terraform Labs and its founder Do Kwon have reportedly reached a preliminary settlement with the U.S. Securities and Exchange Commission (SEC) after being accused of misleading cryptocurrency investors before the 2022 collapse of terrausd (UST), the project’s now-defunct algorithmic stablecoin. According to a court filing, the settlement terms are currently undisclosed and the alleged […] source https://news.bitcoin.com/terraform-labs-do-kwon-reach-preliminary-settlement-with-sec/

Payments giant Paypal has made Paypal USD (PYUSD) available on the Solana blockchain, making the stablecoin “faster and cheaper to use.” Platforms like Crypto.com, Phantom, and Paxos are among the first to offer PYUSD on Solana, alongside Paypal and Venmo wallets. Paypal Makes PYUSD Available on Solana Blockchain Paypal Holdings Inc. (Nasdaq: PYPL) announced at […] source https://news.bitcoin.com/paypal-expands-pyusd-to-solana-blockchain-for-better-payment-solutions/

Blocksquare, a real estate tokenization protocol, has announced that it has tokenized $100 million in properties across various sectors. The team believes this marks a significant advancement in the digital real estate market, facilitated by the launch of their new decentralized finance (defi) platform, Oceanpoint v0.5. From Hotels to Healthcare: Blocksquare Tokenizes $100 Million in […] source https://news.bitcoin.com/rwa-protocol-blocksquare-announces-100-million-tokenization-of-real-estate-assets/

PRESS RELEASE. Importance of Being SRC20: The recent report published by Universelle, covered first by bitcoin.com highlights the superiority of the SRC20 ecosystem despite being undervalued due to limited awareness. This comprehensive analysis demonstrates SRC20’s unmatched data permanence and resilience, positioning it as a superior choice over other protocols like BRC20 and Runes. For more […] source https://news.bitcoin.com/srcpad-the-powerhouse-token-redefining-src20-capabilities/

Former FTX executive Ryan Salame was sentenced to seven and a half years in prison by Judge Lewis Kaplan of the U.S. District Court for the Southern District of New York after pleading guilty to criminal charges, including engaging in an unlawful political influence campaign and operating an unlicensed money transmitting business. Salame, who once […] source https://news.bitcoin.com/former-ftx-executive-ryan-salame-sentenced-to-7-5-years-for-criminal-charges/

Global investment management and research firm Bernstein states that cryptocurrency is evolving into a substantial business opportunity for asset managers. With the recent decrease in the popularity of ESG (Environmental, Social, and Governance) funds, Bernstein notes that attention is expected to shift towards cryptocurrency as a significant driver of hypergrowth. According to Bernstein, there will […] source https://news.bitcoin.com/bernstein-predicts-crypto-arms-race-among-asset-managers/

U.S. Treasury Secretary Janet Yellen has stressed the importance of managing U.S. borrowing needs amid higher long-term interest rates, emphasizing the need to boost revenue in budget negotiations. “We’ve raised the interest-rate forecast. That does make a difference. It makes it somewhat more challenging to keep deficits and interest expense under control,” Yellen told Bloomberg […] source https://news.bitcoin.com/us-treasury-secretary-yellen-warns-of-challenges-in-controlling-deficits-and-interest-expense/

PRESS RELEASE. Apu Apustaja, a new memecoin making waves in the industry, has announced impressive support from its rapidly growing community, including over 11,650 coin holders and more than 13,000 Telegram channel members. Leading a revolution in the sector, which sees frog memecoins replacing dog-themed coins. Behind its sudden surge in popularity are a highly […] source https://news.bitcoin.com/apu-memecoin-soars-reaching-11600-token-holders-with-strong-community-support/

The deadline for President Joe Biden to decide whether to veto or sign a resolution overturning the U.S. Securities and Exchange Commission (SEC)’s controversial crypto rules is approaching. The resolution passed both the House of Representatives and Senate despite a prior White House veto threat. Biden Faces Veto Deadline The resolution to overturn the U.S. […] source https://news.bitcoin.com/deadline-looms-for-biden-to-veto-congressional-overturn-of-secs-crypto-rules/

The Central Bank of Brazil announced the postponement of the completion of the drex pilot, the Brazilian CBDC, due to the inefficiency of the privacy solutions presented for the project so far. The pilot will have a new phase, finalized in 2025, and will also feature the implementation of smart contracts to nurture use cases […] source https://news.bitcoin.com/brazilian-cbdc-pilot-postponed-to-2025-due-to-inefficiency-of-privacy-solutions/

In a recent analysis by Kaiko, it has been found that hedge funds are currently holding net short positions on bitcoin (BTC) and ether (ETH) futures. This strategic move reflects a cautious stance amid fluctuating market dynamics and speculative trading activities. Study Shows Hedge Funds’ Net Short Positions in Bitcoin and Ether Futures Amid Market […] source https://news.bitcoin.com/hedge-funds-adopt-net-short-positions-on-btc-and-eth-futures-kaiko-analysis-reveals/

Venezuelan authorities led by the National Power Ministry and Corpoelec, the state-owned power company, have seized over 6,000 bitcoin miners in two new operations. The ministry, which recently declared that it would disconnect all bitcoin miners due to its high energy consumption, has already confiscated over 17,000 miners from several mining farms. Venezuelan Authorities Advance […] source https://news.bitcoin.com/venezuelan-authorities-seize-over-6000-bitcoin-miners-in-2-new-operations-over-17000-confiscated-in-total/

Jim Cramer, the host of CNBC’s Mad Money show, has endorsed ethereum and spot ether exchange-traded funds (ETFs), highlighting the cryptocurrency as a “great store of value” amid concerns over the U.S. dollar due to federal budget deficits. “I have ether because it’s a great store of value,” he affirmed. Jim Cramer on Ethereum and […] source https://news.bitcoin.com/mad-moneys-jim-cramer-endorses-ether-as-great-store-of-value-amid-us-dollar-concerns/

UBS has raised its gold price forecast following a record surge in gold prices, driven by anticipated Federal Reserve rate cuts and a weakening U.S. dollar. The main factors behind the investment bank’s upgraded gold price prediction include softer U.S. economic data, increased central bank demand, and ongoing geopolitical uncertainties. UBS Revises Gold Price Prediction […] source https://news.bitcoin.com/ubs-raises-gold-price-forecast-amid-rising-central-bank-demand-and-geopolitical-tensions/

The Central Bank of Nigeria has increased the capital requirements for national bureau de change operators from approximately $24,000 to $1.4 million. The central bank has given operators a six-month period to comply and they must apply for new licenses. The bank’s director for risk management stated that street trading of foreign exchange is now […] source https://news.bitcoin.com/nigeria-increases-capital-requirements-for-currency-dealers-nearly-sixtyfold-to-1-4-million/

Seamus Rocca, CEO of Xapo, had a candid conversation with Bitcoin.com’s COO Jason Sheman, where he shared his accumulated experience and knowledge describing what makes Xapo different from a traditional neobank, talked about U.S. markets and regulations, how emerging markets see crypto, and the necessity of implementing stablecoins in Xapo after Silvergate Banks’ downfall. Xapo […] source https://news.bitcoin.com/xapo-ceo-seamus-rocca-describes-xapos-proposition-talks-us-regulation-emerging-markets-and-stablecoins/

The Financial Conduct Authority (FCA), the UK’s top financial regulator, has approved physically backed bitcoin and ethereum exchange-traded products (ETPs) for listing on the London Stock Exchange for the first time. “FCA approval in this respect could result in greater institutional adoption of the asset class,” Wisdomtree stated. First Bitcoin and Ethereum ETP Listings on […] source https://news.bitcoin.com/uk-approves-wisdomtrees-bitcoin-and-ethereum-etps-for-listing-on-london-stock-exchange/

The House of Representatives has passed Congressman Tom Emmer’s CBDC Anti-Surveillance State Act, which prohibits the Federal Reserve from issuing a surveillance-oriented central bank digital currency (CBDC). The lawmaker emphasized that the bill protects American values of privacy and individual sovereignty, countering potential governmental overreach. CBDC Anti-Surveillance Act Clears House Following the passage of the […] source https://news.bitcoin.com/us-house-passes-central-bank-digital-currency-anti-surveillance-state-act/

Consensys has lauded the U.S. Securities and Exchange Commission’s approval of 19b-4 filings for spot ether exchange-traded funds as “a step in the right direction.” However, the software firm expressed its disapproval of what it calls the securities regulator’s “deliberate regulatory abuse” in its handling of ethereum. The SEC’s Inconsistent Approach to Digital Assets The […] source https://news.bitcoin.com/consensys-hails-spot-ether-etf-approval-slams-secs-deliberate-regulatory-abuse/

According to Peak Mining, a subsidiary of the German bitcoin mining and infrastructure firm Northern Data, the company has announced the purchase of a 300-megawatt ERCOT-approved site in Corpus Christi, Texas. The site is adjacent to another location acquired by the firm in December 2023. Peak Mining Purchases ERCOT-Approved Texas Site Northern Data’s Peak Mining […] source https://news.bitcoin.com/northern-datas-peak-mining-acquires-second-300-megawatt-site-in-texas/

Brian Kelly, founder and CEO of BKCM, a digital currency investment firm, stated that while he is still unsure about the imminent approval of a spot ether EFT, he trusts that it will be approved “at some point in time.” In an interview on CNBC, Kelly specified that solana (SOL) might be the next asset […] source https://news.bitcoin.com/brian-kelly-solana-might-get-the-next-spot-etf/

Arthur Hayes, former CEO of Bitmex and current CIO of Maelstrom, has predicted the geopolitical and economic dynamics that will be taken to equilibrate the exchange rate between the U.S. dollar and the Japanese yen might propel bitcoin prices to $1 million. Hayes states that eventually, the U.S. will be forced to act by printing […] source https://news.bitcoin.com/former-bitmex-ceo-arthur-hayes-a-weak-yen-solution-might-propel-bitcoin-to-1-million/

Ben Zhou, co-founder and CEO of Bybit, has dismissed rumors circulating on social media that the cryptocurrency exchange has been hacked or is insolvent. Zhou stated that these rumors are not supported by facts, and users should be cognizant of this. To substantiate his dismissal of the rumors, Zhou directed social media users to the […] source https://news.bitcoin.com/bybit-ceo-dismisses-hacking-insolvency-claims-says-rumors-lack-factual-basis/

The Nigerian Correctional Service recently faced accusations of failing to bring Tigran Gambaryan, a jailed Binance executive, to a court hearing on May 22. A lawyer representing the Nigerian revenue collection agency subsequently requested the court to adjourn proceedings. This would allow him to investigate the reasons behind Gambaryan’s absence. Gambaryan Key to Nigeria’s Tax […] source https://news.bitcoin.com/nigerian-prison-agency-held-responsible-for-court-absence-of-jailed-binance-executive/

In 2010, programmer Laszlo Hanyecz made history by trading 10,000 bitcoins for two pizzas, marking the first documented commercial transaction using the cryptocurrency. Fourteen years later, Binance, the world’s largest cryptocurrency exchange, is commemorating this milestone with a global campaign to distribute over 5,000 pizzas to crypto traders and enthusiasts. Crypto Exchange Binance Plans to […] source https://news.bitcoin.com/binance-celebrates-bitcoin-pizza-day-with-global-pizza-distribution-campaign/

U.S. spot bitcoin exchange-traded funds (ETFs) saw an influx of $305.7 million on Tuesday, marking a seventh consecutive day of positive inflows. According to data, Blackrock’s IBIT led the day, capturing 94.86% of the total inflows for all the ETFs. Tuesday Sees $305M in Inflows Into U.S. Spot Bitcoin ETFs Amidst the excitement around proposed […] source https://news.bitcoin.com/us-spot-bitcoin-etfs-see-305m-in-inflows-blackrocks-ibit-dominates/

Prosecutors have proposed a prison term of five to seven years for Ryan Salame, a former executive at FTX, ahead of his sentencing scheduled for May 28, 2024. This recommendation contrasts sharply with Salame’s legal team’s plea for a more lenient punishment of no more than 18 months. Clash Over Sentencing: Prosecutors Demand 5-7 Years […] source https://news.bitcoin.com/prosecutors-recommend-5-7-year-sentence-for-former-ftx-executive-ryan-salame/

Michael Oliver, the proprietor of Momentum Structural Analysis (MSA) – a research firm specializing in detecting momentum-based movements – believes the recent gold bull market rally might differ from the other gold rallies. Oliver stated that due to several factors, not investing in gold could mean missing “what will likely be a generational event.” MSA […] source https://news.bitcoin.com/market-analyst-michael-oliver-gold-is-entering-a-generational-event-bull-market-trend/

Standard Chartered Bank has revised its forecast and now expects the U.S. Securities and Exchange Commission (SEC) to approve spot ethereum exchange-traded funds (ETFs) this week, with the bank’s head of digital asset research expressing 80% to 90% confidence. He estimates potential inflows of $15 billion to $45 billion into ether within the first year […] source https://news.bitcoin.com/standard-chartered-now-expects-sec-to-approve-spot-ethereum-etfs-this-week/

On May 21, 2024, Hex Trust Group announced the introduction of a native stablecoin, USDX, for the Flare network. Hex Trust also revealed that a Clearpool vault, enabling holders to earn a real-world yield, will debut alongside USDX. Hex Trust’s USDX Stablecoin and Clearpool Vault Aim to Enhance Flare’s Defi Ecosystem Founded in 2018, the […] source https://news.bitcoin.com/hex-trust-to-launch-usdx-stablecoin-on-flare-offering-real-world-yield/

Crypto startup funding rose to $2.4 billion in the first quarter of 2024, driven by expectations of lower interest rates and the launch of the first U.S. bitcoin spot exchange-traded funds (ETFs), according to Pitchbook data. This funding, spread across 518 deals, marked a 40.3% increase from the previous quarter, even as global venture capital […] source https://news.bitcoin.com/crypto-startup-funding-hits-2-4-billion-in-q1/

Ripple, the cryptocurrency services and payments company, has recently unveiled a local fund to support Brazil-based projects using XRP Ledger, the XRP asset blockchain. Julia Heitner, Program Manager of the XRPL Grants program, stated that Brazil was the first country where this strategy would be implemented, given the nation’s openness to blockchain initiatives. Ripple Launches […] source https://news.bitcoin.com/ripple-unveils-brazil-fund-for-supporting-local-xrp-ledger-projects/

PRESS RELEASE. In a bold move that disrupts the digital currency space, Cryptomus has unveiled its much-anticipated iOS application, a comprehensive solution for crypto enthusiasts seeking a seamless, fee-free trading experience. This innovative app, now available on the App Store, enables users to store, withdraw, and convert cryptocurrencies without any fees, make payments, and monitor […] source https://news.bitcoin.com/cryptomus-shakes-up-crypto-unveils-fee-free-ios-app-and-launches-rewarding-crms-token/

Former Commodity Futures Trading Commission (CFTC) Chairman Chris Giancarlo has emphasized former U.S. President Donald Trump’s critical role in the cryptocurrency industry, dubbing him “America’s first crypto president” due to the approval of bitcoin futures during his administration. Trump’s crypto stance has evolved significantly since he was in office. ‘Trump May Justifiably Claim to Be […] source https://news.bitcoin.com/donald-trump-viewed-as-americas-first-crypto-president-by-former-cftc-chairman/

The U.S. Congress has passed its first standalone crypto legislation, which aims to overturn the controversial U.S. Securities and Exchange Commission (SEC)’s SAB 121 rules regarding crypto assets. However, President Joe Biden has threatened to veto this decision, citing concerns about financial stability and market uncertainty. ‘We Are Just Getting Started’ In a historic move, […] source https://news.bitcoin.com/us-congress-passes-first-standalone-crypto-legislation/

The Venezuelan National Power Ministry announced a special operation to disconnect all bitcoin mining farms from the grid. Authorities have seized over 11,000 bitcoin miners as the government seeks to reduce the power usage from high-power customers siphoning energy from the national electric system. Venezuelan Authorities Seize and Disconnect Over 11,000 Bitcoin Miners Amidst Energy […] source https://news.bitcoin.com/venezuelan-authorities-announce-bitcoin-mining-ban-confiscate-over-11000-miners-to-face-the-nations-energy-crisis/

As of the latest data, 352.3 BTC valued at $23.5 million linked to Casascius physical bitcoins have been redeemed this year. Despite 155 physical bitcoin peels, an estimated $2.7 billion in value remains unclaimed and associated with these tangible assets. 18,741 of Mike Caldwell’s Casascius Coins Still Remain Unpeeled In the early days, Mike Caldwell […] source https://news.bitcoin.com/over-23m-in-casascius-bitcoins-redeemed-in-2024-leaving-2-7b-untouched/

Blackrock’s spot bitcoin exchange-traded fund (ETF), the Ishares Bitcoin Trust (IBIT), has amassed 414 insitutional holders in less than three months, according to filings with the U.S. Securities and Exchange Commission (SEC). A senior Bloomberg analyst described this achievement as “mind-boggling” and “highly rare” for new ETFs. Other recently launched ETFs have significantly fewer institutional […] source https://news.bitcoin.com/blackrock-bitcoin-etf-attracts-414-institutional-holders-analyst-says-ibit-blows-away-record/

According to records, China has divested $53.3 billion in U.S. Treasury notes and agency bonds during the first quarter. Some analysts suggest this reduction in foreign exchange reserves might be China’s strategic move to leverage its holdings against the United States. China’s Treasury Holdings Drop Dramatically, Raising Red Flags for U.S. Markets China has significantly […] source https://news.bitcoin.com/chinas-53-3b-divestment-in-us-treasuries-signals-massive-shift-from-dollar-assets/

Over the past 35 days, the total value locked in decentralized finance (defi) protocols has expanded by $11.89 billion, recovering from a low of just over $83 billion on April 13. Although it has not yet reached the $100 billion mark, the value locked in defi is approaching that milestone after hovering just below it. […] source https://news.bitcoin.com/value-locked-in-defi-nears-100b-range-again-after-11-89b-increase-in-35-days/

Approximately 14 years ago today, Laszlo Hanyecz posted on bitcointalk.org, offering 10,000 bitcoins for “a couple of pizzas.” However, most people are not aware that it took him four days to finalize the transaction, which is now worth $670 million. The Famous Bitcoin for Pizza Offer That Took 4 Days to Complete In May 2010, […] source https://news.bitcoin.com/14-years-ago-an-individual-offered-10000-bitcoins-for-2-pizzas-finalizing-the-deal-in-4-days/

A report released on May 16 highlights how increased electricity consumption due to crypto mining and inconsistent rainfall have led to power shortages in Laos, challenging its goals as a hydropower exporter in Southeast Asia. Reuters: Increased Crypto Mining Strains Laos’ Hydropower Grid Laos, often called the “battery of Southeast Asia” for its extensive hydropower […] source https://news.bitcoin.com/crypto-mining-surge-and-erratic-weather-strain-laos-power-grid/

The price of bitcoin surpassed the $67,000 mark on Friday, reaching a peak of $67,482 per unit, the highest value since late April. This increase has resulted in the liquidation of nearly $45 million in leveraged bitcoin short positions over the past day. $120M in Crypto Positions Liquidated as Bitcoin Climbs Above $67K Bitcoin short […] source https://news.bitcoin.com/bitcoin-hits-67k-leading-to-45m-in-short-position-liquidations/

Ibex Pay, a payment rail that accepts Bitcoin payments via the Lightning Network, announced on May 15 that it will cease operations in the U.S. The payment firm stated that the suspension of services for the U.S. market will take effect on May 31, but did not provide reasons for the decision. The company is […] source https://news.bitcoin.com/bitcoin-lightning-payments-service-provider-ibex-pay-to-suspend-us-operations/