Vaibhavv Ali
South Korea, under President Lee Jae-myung, has announced a major new initiative to boost its domestic cryptocurrency market through regulatory reform. The plan, revealed on August 13, aims to build a comprehensive digital asset ecosystem, positioning the country as a global hub for crypto innovation. The new reforms are designed to provide greater regulatory clarity, … Read more
A new study by Satoshi Action Education projects a 75% probability that Bitcoin’s price will exceed $4.81 million by April 2036. The research, led by economist Murray A. Rudd, used an updated probability model that factors in supply constraints and increasing institutional demand. The study provides a range of price projections for April 2036, with … Read more
A new bill, Assembly Bill 8966, has been introduced in the New York State Assembly that would impose a 0.2% excise tax on all crypto and NFT transactions. If passed, the tax would take effect on September 1 and apply to the sale and transfer of all digital assets. The bill’s sponsor, Democratic Assembly member … Read more
Asian markets are showing varied responses to the evolving crypto landscape, with Japanese companies taking contrasting stances on Bitcoin, Korean exchanges reporting mixed financial results, and Hong Kong regulators issuing a warning on stablecoins. Japanese Companies Diverge on Bitcoin Japanese firm Remixpoint has reported massive gains from its Bitcoin treasury strategy, with its holdings of … Read more
Nasdaq-listed company Bit Digital has reported a decline in second-quarter revenue but achieved a net income by shifting its business focus. The company’s total revenue for the quarter was $25.7 million, an 11.7% decrease year-over-year. This decline was primarily due to a drop in digital asset mining revenue as the company transitioned to an Ethereum … Read more
The cryptocurrency market experienced a sharp sell-off in the last 24 hours, with over $1 billion in leveraged positions liquidated. This dramatic downturn was triggered by the release of U.S. Producer Price Index (PPI) data, which was higher than anticipated, raising concerns about persistent inflation and potentially delaying Federal Reserve interest rate cuts. Bitcoin had … Read more
Hong Kong-based family office, Avenir Group, has significantly increased its investment in BlackRock’s Bitcoin ETF, now holding over $1 billion as of August 15. This makes Avenir Group the largest institutional holder of Bitcoin ETFs in Asia. This move signals a growing confidence among traditional financial institutions in Bitcoin ETFs. The substantial investment could not … Read more
U.S. Treasury Secretary Scott Bessent has reversed his previous stance, announcing that the government may acquire more Bitcoin for its Strategic Bitcoin Reserve beyond just seized funds. This move is intended to increase the nation’s influence in the international cryptocurrency market. President Trump established the reserve in March through an Executive Order, which initially mandated … Read more
Block Inc., led by Jack Dorsey, is shaking up the Bitcoin mining industry with the launch of its new modular Bitcoin miner, Proto Rig, and a comprehensive software platform, Proto Fleet. This move comes after the company doubled down on Bitcoin mining since late 2024. The Proto Rig miner is designed for higher density and … Read more
BlackRock’s iShares Bitcoin Trust (IBIT) has solidified its leadership in the U.S. spot Bitcoin ETF market, reaching a new record of $91.06 billion in assets under management. This milestone widens its lead over competitors, with the fund holding 3.72% of the total Bitcoin supply. The ETF’s impressive momentum, which includes attracting over $5 billion in … Read more