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In the last 24 hours, the cryptocurrency market has experienced a significant decrease in total capitalization, dropping to $2.07 trillion. This 8.6% decrease has had a major impact on leading digital assets, with many seeing losses and only a few managing to maintain positive momentum. The primary cryptocurrency, Bitcoin, has been hit hard, with its
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The recent plummet in Bitcoin price has been largely attributed to the impending distribution of 142,000 BTC by the defunct crypto exchange Mt. Gox. This distribution represents a substantial portion of the total Bitcoin supply, causing market anxiety among investors and analysts. The fear of massive selling by these creditors has led to preemptive selling
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Bitwise, a prominent asset management firm, recently made amendments to its S-1 registration statement with the SEC in order to list and trade shares of a spot Ether exchange-traded fund (ETF). The decision to amend the registration statement comes after SEC Chair Gary Gensler’s announcement that approvals for spot Ether ETFs could potentially be finalized
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Recently, the Financial Supervisory Service (FSS) in South Korea has announced plans to tighten oversight of cryptocurrency trading platforms under its jurisdiction. The goal is to eliminate fraudulent transactions within the crypto space. The regulator has mandated that local exchanges must establish a continuous monitoring system for unfair transactions and report any abnormal activities via
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The Bitcoin network is currently experiencing some signs of miner capitulation. This phase typically involves miners either shutting down their operations or selling off some of their Bitcoin holdings. Interestingly, historical data suggests that such a period often precedes a bottoming out of Bitcoin prices, signaling a potential uptrend for the digital asset. Since the
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DraftKings, a leading online sportsbook operator, is currently facing legal challenges, particularly regarding the DraftKings NFT lawsuit. The recent ruling by a US District Judge in Massachusetts rejecting DraftKings’ motion to dismiss a class action lawsuit related to its NFTs has significant implications for the classification and regulation of NFTs. The class action lawsuit, initiated
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Ethereum (ETH) is currently facing a significant downturn in its price, with a rapid approach towards the crucial support level of $3,051. This sudden drop in value is indicative of increased selling pressure and a growing bearish sentiment prevailing in the market. Traders are now closely observing Ethereum’s behavior as it nears this critical support
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Meta’s CEO, Mark Zuckerberg, envisions a future where smart glasses equipped with holographic displays will revolutionize the way we communicate and interact with the digital world. In a recent interview, Zuckerberg highlighted the potential of these glasses to eventually replace smartphones as the primary device for daily activities. While critics have been skeptical of Meta’s
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Tom Lee, the head of research at Fundstrat, has recently reiterated his prediction that Bitcoin will surge to $150,000. He strongly believes in Bitcoin’s bullish outlook and is confident that the pioneer cryptocurrency will soon break out of its bearish trends. In a recent interview with CNBC Television, Lee expressed a positive outlook on Bitcoin’s
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Galaxy Digital CEO, Mike Novogratz, recently shared his views on the future regulatory environment for cryptocurrencies in the US, emphasizing the importance of bipartisan support. According to Novogratz, fostering a bipartisan approach towards crypto is crucial. He believes that having both parties on board is essential for the growth and development of the industry. While
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In the first half of 2024, Bitcoin and Ethereum have overshadowed traditional investments such as the Nasdaq, S&P 500, oil, gold, the U.S. dollar, and government bonds. Matrixport’s July 1 post highlighted that both cryptocurrencies are leading the pack halfway through the year. The approval of spot Bitcoin ETFs in January played a significant role
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Binance.US, the American arm of the leading cryptocurrency exchange Binance, is facing a legal battle with the Securities and Exchange Commission (SEC). The SEC has alleged securities law violations against Binance.US, leading to a court case that is progressing despite the exchange’s attempts to dismiss the charges. On June 28, US District Judge Amy Berman
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