Bitcoin faced a 2.5% drop on Wednesday, landing at $59,100, following the U.S. government’s decision to transfer more of its Silk Road-related Bitcoin holdings to Coinbase Prime. This move was highlighted by on-chain analysis platform Arkham Intelligence, which pointed out that 10,000 BTC valued at $593 million were transferred. The tweet from Arkham read, “Wallet
Crypto
The story of Sahil Arora, a once-prominent figure in the crypto industry, is a tale of questionable wealth and murky ethics. Originally reported to have made $30 million this year, it was later revealed that his actual earnings were closer to $3 million. This vast difference in estimates raises questions about the legitimacy of Arora’s
In a recent report by Bitwise, it was revealed that U.S.-based institutional investors are continuing to show strong support for Bitcoin through spot ETFs. Despite market volatility and declining prices during Q2, around 66% of institutional investors are either maintaining or increasing their holdings in Bitcoin. This trend highlights the growing confidence in Bitcoin as
The latest findings from Chainalysis reveal a worrying trend in the world of cybersecurity. While overall illicit transactions have decreased, there has been a significant rise in stolen funds and ransomware payments. The amount of stolen funds in crypto scams has nearly doubled, reaching $1.58 billion by late July. Similarly, ransomware payments have seen an
Metaplanet has recently made a significant investment in bitcoin, acquiring approximately $3.3 million worth of the cryptocurrency. This move is part of the Japanese investment firm’s broader strategy to expand its bitcoin holdings. With this latest purchase, Metaplanet now holds a total of 303.095 BTC, acquired for $20 million. Earlier this month, Metaplanet Inc. secured
In a groundbreaking move, the Singapore-based cryptocurrency exchange, Crypto.com, has sealed a historic partnership with the Union of European Football Associations (UEFA) Champions League. This partnership marks a significant milestone in the realm of sports sponsorship, as Crypto.com becomes the official global sponsor of the UEFA Champions League, setting a new precedent as the exclusive
Core Scientific, a Texas-based Bitcoin mining company, has recently announced the pricing of its increased offering of $400 million in convertible senior notes due in 2029. The initial size of the offering was $350 million but has been upsized due to favorable market conditions. Settling on August 19, 2024, the notes will be issued privately
In the midst of the current downturn in the market, investor sentiment in the digital asset market is uncertain. However, according to Glassnode, there are clear signs of a resurgence in HODLing and accumulation. The analysis of the on-chain investor response to the volatile market conditions indicates a growing inclination towards HODLing. Following bitcoin’s all-time
The latest data on Ethereum’s Layer 2 ecosystem indicates a surge in activity, with daily transaction volume reaching an all-time high of 12.42 million on August 12. This milestone reflects the rapid advancements in scalability within the ecosystem, potentially leading to increased user engagement. Year-to-date, Growthepie reported a 140% increase in daily transactions in the
Bitcoin’s price has been on a wild ride recently, experiencing significant fluctuations in just a matter of days. After reaching almost $63,000, the cryptocurrency suffered a sharp drop to under $50,000, marking a 6-month low. However, it quickly bounced back, gaining over $13,000 to reach the $63,000 mark again. This volatility is not new to
