Cryptocurrency News Today TheBitTimes.com

Cantor Fitzgerald is looking to launch a Bitcoin financing business with an initial capital of $2 billion. The financing services giant’s CEO announced the plans at Bitcoin 2024. Cantor Fitzgerald will partner with top Bitcoin custody pltforms to offer leverage to investors that hold BTC. Cantor Fitzgerald, a New York-based global financial services company, will invest an initial $2 billion in a new Bitcoin financing business, the firm’s CEO Howard Lutnick announced at Bitcoin 2024. The company confirmed the plans via a press release. Cantor Fitzgerald eyes BTC financing business According to the Cantor Fitzgerald CEO and per details in the news release, the new business venture will offer leverage to investors holding Bitcoin. The firm will invest more into the financing platform after the initial $2 billion splash. “We are excited to help unlock Bitcoin’s full potential and continue bridging the gap between traditional finance...

In just over a week since the United States Securities and Exchange Commission (SEC) approved spot Ethereum (ETH) exchange-traded funds (ETFs), cryptocurrency exchanges have seen substantial ETH outflow, demonstrating the impact of regulatory decisions on market dynamics. As it happens, since the securities watchdog’s approval of Ethereum spot ETFs on May 23, 2024, approximately 777,000 ETH – valued at around $3 billion – has left crypto exchanges , according to the chart data and observations shared by renowned crypto trading expert Ali Martinez in an X post on June 2. Ethereum balance on exchanges. Source: Ali Martinez Indeed, the Glassnode chart shared by the analyst showcases the massive changes in the total balance of Ethereum on all crypto exchanges, which has witnessed a significant drop in the days following the approval to the areas of around 12.5 million ETH, coinciding with a price increase. ...

Bitcoin price dipped nearly 2% on Tuesday morning to trade at lows seen last Friday before rebounding slightly as of writing. This BTC price decline came after the latest crypto news around defunct cryptocurrency exchange Mt. Gox.  On May 28, Mt. Gox moved more than 141,000 BTC worth over $9.6 billion to a new unknown wallet. Data shows the transfers happened in several transactions, with chunks of between 3,999 BTC and 32,499 BTC. The latest on-chain data shows all of the coins are now transferred to the new address. As the market reacted to the news, Bitcoin price fell from highs of $70,000 to lows of $67,550. The flagship Crypto currency’s price had however rebounded to above $68,000. BTC remains 4% down this past week. BTC price and the Mt. Gox creditor repayment plan Mt. Gox was once the Crypto industry’s largest Bitcoin exchange before a 2014 hack saw it lose over 850,000 BTC . After years of waiting amid recovery efforts, creditors...

As the majority of assets in the cryptocurrency sector nears the end of another week in the red, the market’s total capitalization has declined over $400 billion in just seven days, led by the industry’s representative, Bitcoin (BTC), which is trading in the $61,000 area. Specifically, the crypto market has dropped from $2.65 trillion on April 11 to the current $2.24 trillion, which equals a loss of a whopping $410 billion or 15.47% in a single week, according to the most recent chart data retrieved by Finbold from the crypto analytics platform CoinMarketCap on April 18. Total crypto market cap 7-day chart. Source: CoinMarketCap Why is crypto market down? So, why is the crypto market down? Notably, one of the reasons could be the escalating geopolitical tensions around the world, particularly in the Middle East – between Israel and Iran – which have sent fears across the globe and the market s tumbling amid investor panic and sell-offs. Picks for you AI p...

The cryptocurrency market turned red in the past few days with the largest losses happening in the last 24 hours. This retracement came amid concerns about what some investors suggest are signals of crypto reaching a local top. In particular, over $230 billion vanished from crypto’s total market cap amid over $650 million in liquidations. First, TradingView ’s Cryptocap 4-hour chart index shows the market has lost $233.33 billion of capitalization in 24 hours. The total market value dropped from $2.508 trillion to as low as $2.275 trillion by press time. Picks for you US economist predicts Bitcoin’s ‘catastrophic crash’ due to ETFs 34 mins ago We asked ChatGPT-4 if Bitcoin can hit $100k before halving; Here’s what it said 1 hour ago AI predicts Solana price for end of 2024 2 hours ago Here's how much Andrew Tate made in last crypto bull run 3 hours ago Bitcoin (BTC) had significant protagonism in this crash as the market ’s leader and w...

The impending approval of Bitcoin (BTC) exchange-traded funds (ETF) generates significant excitement in a potential breakthrough for cryptocurrency on Wall Street. This development is anticipated to open up digital currency investing to institutional and retail investors, marking a pivotal moment in the industry. The anticipated approval by the US Securities and Exchange Commission (SEC) of ETFs designed to buy and sell BTC could usher in a new era for crypto investments.  This regulatory shift, expected by mid-January or sooner, follows a decade of previous rejections of similar applications. The involvement of major financial players like BlackRock (NYSE: BLK), Fidelity, and Invesco (NYSE: IVZ) is contributing to projections that the spot-Bitcoin ETF market could grow into a $100 billion powerhouse, as per Bloomberg on November 20.  The potential widespread adoption of this ETF is viewed as a game-changer, simplifying access for investors and allowing for direct supervisi...

The FTX Bankruptcy is seeking to recover assets worth about $1 billion. The lawsuit will be heard by a Delaware Court. The funds in question were allegedly withdrawn from FTX. FTX’s bankruptcy advisers have recently initiated legal action against Bybit Fintech and its affiliated companies, including Bybit’s investment arm, Mirana Corp. The lawsuit, filed in a Delaware court, aims to recover approximately $953 million in cash and digital assets that were allegedly withdrawn from FTX just before its Chapter 11 bankruptcy filing a year ago. Charges against Mirana Corp. The lawsuit alleges that Mirana Corp. enjoyed special “VIP” benefits not available to regular FTX customers, exploiting these privileges to withdraw a substantial portion of assets from FTX . Mirana is accused of exerting pressure on FTX employees to fulfil its withdrawal requests while other customers faced delays accessing their funds as the exchange approached coll...

Irina Dilkinska entered a guilty plea weeks after OneCoin co-founder Karl Sebastian Greenwood was sentenced to 20 years in prison for a multi-billion dollar crypto pyramid scheme. OneCoin’s head of legal and Compliance, Irina Dilkinska, pled guilty to charges of wire fraud and money laundering before a Manhattan court on Nov. 9, according to a statement from Damian Williams of the U.S. Attorneys office for the South District of New York (SDNY). As OneCoin’s so-called ‘Head of Legal and Compliance’ Irina Dilkinska accomplished the exact opposite goal of her position.  As she has now admitted, Dilkinska facilitated the laundering of millions of dollar s of illicit profits OneCoin accrued through its multi-level marketing scheme. Damian Williams, U.S. Attorney for SDNY You might also like: Princess Diana’s law firm to file a lawsuit against OneCoin The court reportedly scheduled Dilkinska’s sentencing for February 2024. Dilkinska could spend up to 10 years in prison fo...

In a surprising turn of events, Uniswap’s founder, Hayden Adams, executed a dramatic move on October 20 by incinerating a staggering 99% of the HayCoin (HAY) supply. This unprecedented action was spurred by his deep concerns regarding the rampant price speculation that had engulfed the token. Before we delve into the details, it’s worth noting that Hayden Adams initially introduced the HAY token for testing purposes approximately five years ago. This was a precursor to the launch of the decentralized Uniswap protocol. At that time, he established a modest test liquidity pool, utilizing only a minuscule fraction of the overall token supply. Astonishingly, he retained over 99.9% of HAY tokens in his own wallet, a fact that would soon garner substantial attention. Fast forward to just a few weeks ago, and the token was experiencing a meteoric rise in popularity, echoing the trend of meme coins. Hayden Adams himself reflected on this unexpected phenomenon, saying, “Over ...

Crypto prices are rallying, with Bitcoin (BTC) rising more than 5% to near $30k. Total market cap is up more than 4% to $1.17 trillion, with over $46 billion added in the past 24 hours. Ethereum and XRP have also spiked, above $1,600 and $0.52 respectively as ETF talk and Ripple news buoy markets. The global cryptocurrency market capitalization is up 4.6% to above $1.17 trillion, with about $46.5 billion added to the crypto market cap in the past 24 hours. The global 24-hour trading volume was about $88 billion, according to data from market aggregator CoinGecko. Why are crypto prices rising? A spike in crypto prices today is the reason behind the uptick in the total cryptocurrency market cap. As can be seen in the heatmap below, the upward trend for Bitcoin (BTC) and across the altcoin market, has fueled the jump in total market cap. Crypto market heatmap. Source: Coin360 The injection of volatility in the sector is likely the flip in sentiment am...

Cyber criminals used a variety of methods to siphon funds through hacks and exploits in 2022, amounting to over $2.8 billion in losses. Cyber criminals used a variety of novel ways to carry out hacks and exploits in 2022, with over $2.8 billion of cryptocurrency stolen last year. According to a report from CoinGecko using data sourced from DeFiYield’s REKT Database, nearly half of the total crypto stolen in 2022 was fleeced using diverse methods. This includes bypassing verification processes, market manipulation, ‘crowd looting’ as well as smart contract and bridge exploits. The biggest hack of 2022 was carried out through an access control hack. Sky Mavis, the developer behind popular game Axie Infinity, saw its Ronin bridge hacked in March 2022, leading to $625 million being drained from the bridge between the Ronin chain and Ethereum network. It was later revealed that North Korean hacking group Lazarus gained access to five private keys which were used to sign transactions from...