FTX has recovered about $7 billion in liquid assets so far, and the search for additional assets is continuing, CEO John Ray said in the FTX Debtors’ second interim report, released June 26. The extensive commingling of funds complicates their efforts, however. The FTX Debtors, made up of FTX and affiliates, currently estimate the amount
The Canadian Bitcoin (BTC) mining company, Hut 8 Mining, has secured a credit facility from a subsidiary of the United States-based cryptocurrency exchange, Coinbase. Hut 8 officially announced on June 26 that it entered into a $50 million credit agreement with Coinbase Credit as lender. The credit facility involved Hut 8’s subsidiary, Hut 8 Holdings,
The United States House of Representatives recently adopted new rules banning all use of artificial intelligence (AI) large language models by members, with the sole exception of OpenAI’s ChatGPT Plus service. According to a notice sent from the U.S. House’s chief administrative officer, Catherine Szpindor, chatbot use has been restricted for security purposes: “House offices using
Bitcoin (BTC) circled $30,500 at the June 26 Wall Street open as bulls held newfound support. Bitcoin ETF hype puts demands on U.S. session Data from Cointelegraph Markets Pro and TradingView showed BTC price action retaining $30,000 around the weekly close. The largest cryptocurrency began the week on a stable note as U.S. markets began
A recent surge in activity surrounding exchange-traded funds has led to the largest weekly inflow for digital asset investment products since July 2022, according to a June 26 report via CoinShares. Totalling $199 million, inflows for the week of 19–23 June turned around a nine-week string of consecutive outflows, with Bitcoin (BTC) representing the lion’s
A renewed call from the Financial Action Task Force (FATF) has asked countries to implement the “travel rule” to combat money laundering and terrorism financing activities enabled by cryptocurrencies. On June 23, the United Nations body — whose role is to promote strategies to combat money laundering and terrorist financing — explained that “many” member
Binance has decided to reverse its plan to delist a number of privacy coins in Europe after it said it has revised operations in order to comply with local regulations. In a comment from the cryptocurrency exchange recevied on June 26, Binance said that: “After carefully considering feedback from our community and several projects, we
Bitcoin (BTC) starts a new week in a solid position above $30,000 after its latest rapid gains. BTC price action continues to deliver on bulls’ expectations after weeks of sideways trading offered little relief. Can it continue? That is the question on every trader’s mind this week — $30,000 held into the weekly close and
The United Arab Emirates is becoming the next big focus for Binance in the wake of a slew of enforcement actions in the United States against the crypto exchange. Speaking to Cointelegraph, Binance Dubai general manager Alex Chehade said the UAE is a prime destination for crypto businesses seeking a clear path forward and noted
Huobi co-founder sues own company for copyright infringement According to local news reports on June 21, Leon Lin Li, former co-founder of cryptocurrency exchange Huobi Global, has filed a copyright infringement lawsuit against the company in Hong Kong. Li claims that despite selling his majority stake to an entity controlled by Chinese blockchain personality Justin
Bitcoin (BTC) made a new 52-week high on June 23, indicating that bulls are on fire. Buyers have managed to hold onto a large part of the gains made during the week, signaling that they are in no hurry to book profits. Bitcoin climbed 16% this week, outperforming the S&P 500 Index, which fell 1.39%.
United States Government bonds, or Treasurys, have a tremendous influence across all tradeable markets, including Bitcoin (BTC) and Ether (ETH). In that sense, risk calculation in finance is relative, so every loan, mortgage and even cryptocurrency derivatives depend on the cost of capital attributed to U.S. dollars. Assuming the worst-case scenario of the U.S. government
Bitcoin (BTC) tapped $31,000 for a third time this year on June 25 as the weekly close promised volatility. BTC price challenges $31,000 Data from Cointelegraph Markets Pro and TradingView showed BTC price movements focusing on yearly highs. BTC price remained strong over the weekend, as attention focused on geopolitical events in Russia and surrounding
Top Stories This Week ‘The Great Accumulation’ of Bitcoin has begun, says Gemini’s Winklevoss Recently renewed optimism for an approved Bitcoin spot exchange-traded fund (ETF) is igniting “The Great Accumulation Race” for Bitcoin, according to industry pundits. Over the past week, Fidelity, Invesco, WisdomTree and Valkyrie have followed investment giant BlackRock in applying for a
The CEO of Hong Kong’s Securities and Futures Commission (SFC), Julia Leung Fung-yee, addressed Hong Kong’s embrace of Web3 regulation following the collapse of crypto exchange FTX last November, noting that crypto trading is an important part of the virtual asset ecosystem. During a recent speech, Leung reportedly explained that the new licensing system for
Ethereum’s on-chain movements indicate bullish pressure building around Ether as its exchange balances reached an all-time low and staking deposits keep surging. Ether’s (ETH) technical charts suggest that the asset can reclaim $3,000 if buyers are able to push above the resistance between $1,900 and $2,000. ETH held on exchanges hits an all-time low Exchange
A bathhouse in Brooklyn, New York, has left users on Instagram and Twitter divided after it revealed that it is using Bitcoin (BTC) mining rigs to heat its spa. In a June 21 Instagram post, Bathhouse explained it is running Bitcoin mining rigs at its location in Brooklyn, which generates heat as a byproduct. In the
Bitcoin (BTC) has been trading above $31,000 after its 24.3% rally between June 15 and June 23, which caught many off guard. For bears, that meant facing $165 million in short futures contract liquidations, but the unexpected rally also brought some degree of discomfort for investors using Bitcoin derivatives. Inflation remains the biggest question mark
A rumor is currently circulating on Twitter about an alleged connection between Ripple Labs and the US Federal Reserve (Fed). Even though the story is apparently very far-fetched, it is nevertheless a story worth telling, and we don’t want to keep it quiet. The origin of the rumor is popular XRP army member @NFAdotcrypto. The
The bid for the first Bitcoin (BTC) spot exchange-traded fund (ETF) in the United States is gaining traction following BlackRock’s recent application, with both former applicants and new players seeking permission from the U.S. Securities and Exchange Commission (SEC) to list a crypto ETF. Although it’s unclear whether the SEC will finally allow a Bitcoin
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