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The federal indictment does not explicitly name Sam Bankman-Fried’s FTX as the targeted entity, yet Bloomberg has reported it to be the victim. On Wednesday, the U.S. federal government charged three individuals in a prolonged phone hacking scheme that climaxed in the notorious theft of $400 million from FTX during the collapse of Sam Bankman-Fried’s…

Outflows from Grayscale’s GBTC have stayed elevated, while inflows for the other funds collectively have decelerated. Data from Bloomberg Intelligence analyst James Seyffart reveals that the 10 spot bitcoin ETFs, including GBTC, experienced a net outflow of $158 million on Wednesday. Although daily flows can be volatile, figures from issuers’ websites show a total bitcoin…

Analysts observed that GBTC shares dipped to a 0.9% discount, signaling potential selling pressure. As spot bitcoin ETF approvals unfolded, futures traders anticipating higher crypto prices faced around $217 million in liquidations over the past 24 hours. The approval of spot bitcoin ETFs became a “sell-the-news” event, triggering contrarian bets. Concerns about Grayscale’s potential bitcoin…

The CEO of BlackRock, Larry Fink, has expressed support for the idea of an exchange-traded fund (ETF) for ether (ETH), the native token of the Ethereum blockchain. This comes a day after the launch of the highly anticipated bitcoin (BTC) ETF. In an interview with CNBC, Fink stated, “I see value in having an Ethereum…

Market participants, such as trading firm DRW, have been diligently preparing for the potential approval of Bitcoin exchange-traded funds (ETFs) by the U.S. Securities and Exchange Commission (SEC). If approved, a significant influx of investment is anticipated in the cryptocurrency market, as various firms await the SEC’s decision. Key players, including BlackRock, Grayscale, Fidelity, and…

Amidst looming investigations, the board of directors at Binance.US faced a crucial vote on whether to liquidate the company, as reported by The Information. Binance CEO Changpeng “CZ” Zhao reportedly considered shutting down the U.S. branch earlier in the year to safeguard the broader company. Sources revealed that the board, chaired by Zhao, could not…

Predictions for 2024, according to market analysts. Solana In 2023, the Layer-1 blockchain Solana (SOL) led the way in terms of token price gains, closely followed by other altcoins Avalanche (AVAX), Stacks (STX), and Helium (HNT). The digital asset gains coincided with a strong performance by the largest cryptocurrency by market value, Bitcoin (BTC), amid…

The reported exploit prompts users to link their wallets through a pop-up, initiating a token-draining mechanism. Sushi, a decentralized finance (DeFi) protocol, faced a front-end exploit related to an industry-wide vulnerability associated with Ledger’s Connect Kit. Ledger, a manufacturer of hardware wallets, supplies the Connect Kit software used by DeFi protocols like Lido, Metamask, Coinbase,…

Options trading for Bitcoin (BTC) and Ethereum (ETH) on Deribit is experiencing unprecedented levels of activity. As of the end of the week, the total value of open BTC and ETH options contracts, referred to as notional open interest, reached a record-breaking $23.6 billion, according to Deribit’s Chief Commercial Officer Luuk Strijers in a statement…

10 Years of Decentralizing the Future From May 29-31, 2024, in Austin, Texas, the epicenter of global activity in the crypto, blockchain, and Web3 space convened. The narrative supporting a potential surge in Bitcoin’s value to $40,000 or beyond by year-end has gained momentum, bolstered by a substantial withdrawal of over 37,000 BTC (worth $1.4…