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Crypto News

Tesla's Bitcoin Investments Maintain $184 Million Position on Balance Sheet in Q2

Tesla maintained its digital asset holdings at $184 million on its balance sheet in the second quarter, despite the rising price of bitcoin. Accounting rules prevent unrealized gains on cryptocurrency from being recorded. Tesla had purchased $1.5 billion worth of bitcoin in February 2021 but later sold about 75% of its stack. CEO Elon Musk expressed openness to increasing bitcoin holdings in the future. Tesla's digital asset holdings remained unchanged in Q2 2023, with the company having maintained the same level since Q4 2022.

Blockworks - 1133 ngày trước

Long-Dormant Ethereum ICO Participant Transfers $116M in ETH to Kraken

A dormant wallet containing $116 million worth of Ethereum was recently transferred to the Kraken crypto exchange. The wallet had been inactive for eight years since its participation in Ethereum's initial coin offering (ICO) in 2014. During the ICO, the Ethereum Foundation raised $18.3 million by issuing 60 million ETH tokens to early investors. This successful ICO paved the way for other projects to raise funds through token sales. The recent transaction, which incurred a fee of 0.00168 ETH ($3.21), included a test transaction to ensure accuracy. The identity and motive of the wallet owner remain unknown.

Decrypt - 1133 ngày trước

French Financial Regulator Grants License to Societe Generale, Paving the Way for Crypto Services

Societe Generale's cryptocurrency division, SG Forge, has become the first company in France to receive a license from the financial regulator to offer crypto services. The license allows SG Forge to buy, sell, exchange, and store digital assets. While many crypto firms are registered with the regulator, SG Forge is the first to obtain a license. This licensing process ensures compliance with organizational, financial, and business conduct requirements. SG Forge sees this approval as a significant milestone for their role in the crypto assets ecosystem, particularly for their Ethereum-based stablecoin, CoinVertible (EURCV).

coindesk - 1133 ngày trước

SkyBridge Capital CEO Anthony Scaramucci Envisions Trillions of Dollars Pouring into Crypto

Bitcoin advocate Anthony Scaramucci, CEO of SkyBridge Capital, believes that digital assets like Bitcoin will revolutionize the financial system, attracting trillions of dollars to the crypto markets. He highlights the potential of blockchain and cryptocurrency to disintermediate transactions, eliminate third-party fees, and enable trustless bilateral transfers. Scaramucci predicts that the total market capitalization of cryptocurrencies could grow fourfold to reach $3-$5 trillion in the next few years, making it an attractive investment opportunity.

The Daily Hodl - 1134 ngày trước

ARK Invest's Cathie Wood Bullish on Bitcoin, Expects $1.5 Million Price Target in Next Decade

ARK Invest CEO Cathie Wood believes that Bitcoin will reach a price of $1.5 million within the next decade. The regional banking crisis in March strengthened ARK's bullish case for Bitcoin, as investors turned to the cryptocurrency as a safe-haven asset. Wood sees Bitcoin as an "insurance policy" against unfair wealth confiscation and inflation, as its decentralized nature and limited supply make it an attractive store of value. Additionally, she expressed optimism about exchanges, like Coinbase, prevailing against SEC lawsuits, citing the recent court ruling in Ripple's case as a positive factor.

CryptoSlate - 1134 ngày trước

Telegram Empowers Merchants with In-App Crypto Payment Feature

Telegram's messaging app now allows merchants to accept cryptocurrency payments through its Wallet feature. The Wallet, based on The Open Network (TON) blockchain, previously enabled crypto transfers between users. Now, merchants can integrate cryptocurrency into their payment bots, accepting tether, bitcoin, and toncoin. This feature, called WalletPay, allows seamless cryptocurrency payments within Telegram, including making payments directly in chats. However, despite being available for over a year, only 2 million out of 700 million Telegram members use Wallet services, partially due to legal battles with the SEC.

coindesk - 1140 ngày trước

Crypto Hedge Funds Anticipate Surge in Digital Asset Values in 2023

A study by PwC shows that most crypto-native hedge funds predict higher values for digital assets by the end of 2023 compared to 2022. Bitcoin's value has been rising, with an 85% increase this year, and the total crypto market capitalization has grown by 50% to $1.25 trillion. John Garvey, from PwC, expects strong investment in crypto despite market volatility. While traditional hedge funds investing in crypto have decreased, those already invested plan to maintain or increase their exposure. Some crypto hedge funds are considering moving to crypto-friendly jurisdictions due to regulatory challenges.

Blockworks - 1140 ngày trước

WisdomTree Launches WisdomTree Prime App for Convenient Cryptocurrency and Gold Investments

WisdomTree, a fund group managing $93.6 billion, has launched a new financial app called WisdomTree Prime. The app allows users to buy and sell cryptocurrencies like Bitcoin and Ethereum, as well as trade tokenized physical assets such as gold. It aims to simplify the investing experience by offering a familiar interface on top of blockchain technology. WisdomTree's goal is to bring together dollars, gold, cryptocurrencies, and funds on a single platform to make investing more accessible and less overwhelming. The app's launch follows the growing trend of financial companies embracing cryptocurrencies.

Blockworks - 1140 ngày trước

Google Play Introduces NFT Integration to Boost User Engagement in Apps and Games

Google Play has announced a new policy allowing developers to include non-fungible tokens (NFTs) in their apps and games. This means users will be able to buy, sell, or earn tokenized assets within these applications. Joseph Mills, Google Play's Group Product Manager, emphasized that this move will enhance user loyalty and enable traditional games to incorporate user-owned content. The updated guidelines aim to promote user trust and responsible usage of blockchain technology. The new policy will roll out later this year after initial tests with a group of developers.

coindesk - 1140 ngày trước

U.S. Senate Committee Requests Tax Guidance from Crypto Industry Experts

The U.S. Senate Committee on Finance wants to understand how to deal with taxes for cryptocurrencies. They reached out to the cryptocurrency industry for help. The Committee asked questions about topics like digital asset loans, wash sales, and mining. The tax law doesn't have clear rules for digital assets, causing difficulties for taxpayers. The Committee will gather answers until Sept. 8, 2023. Lawmakers in the House also urged the Internal Revenue Service (IRS) to release crypto tax rules quickly. The IRS plans to implement a new plan for dealing with cryptocurrencies in about a year.

coindesk - 1141 ngày trước

Crypto News

Bitcoin Open Interest Surges by $1.8 Billion as Price Breaks $27,000

Bitcoin's Open Interest has surged by $1.8 billion as its price broke the $27,000 mark, indicating a strong influx of investor interest. Open Interest tracks the total value of Bitcoin futures contracts open on derivative exchanges, with rising figures signifying increased market activity and potential volatility. The recent jump from $11.04 billion to $12.81 billion suggests heightened trading and leveraged positions. The future direction of Bitcoin's price remains uncertain, with the surge potentially fueled by shorts covering positions or longs hoping for further gains. The funding rate suggests a balanced mix of long and short positions.

newsbtc - 1072 ngày trước

Bitcoin Poised for Parabolic Rise with Institutional Capital Inflow, Says Morgan Creek Capital Founder

Morgan Creek Capital founder Mark Yusko predicts a bright future for Bitcoin (BTC) as institutional capital worth hundreds of billions is expected to enter the market. Yusko points to Bitcoin's historical trend of adding a zero to its price following each halving event, with the next one slated for April 2024. He anticipates a 1.5x increase from the current all-time high, potentially reaching $100,000. Additionally, Yusko believes Bitcoin exchange-traded funds (ETFs) will be approved by late 2023 or early 2024, leading to a substantial influx of capital into the cryptocurrency.

The Daily Hodl - 1072 ngày trước

Citigroup Leads the Way with Permissioned Blockchain for Institutions

Citigroup has unveiled Citi Token Services, a permissioned blockchain platform designed for institutional clients, offering access to tokenized deposits, cross-border payments, and automated trade finance around the clock. This move aligns with Citigroup's goal of creating a 24-7, on-chain, programmable financial system. The partnership with Maersk enables instant payments through smart contracts, benefiting companies with numerous vendors. Citi Token Services also aids corporate treasurers in managing global liquidity more efficiently. Meanwhile, JPMorgan is reportedly still in the early stages of exploring a similar private blockchain service, lagging behind Citigroup's innovation.

Blockworks - 1072 ngày trước

Bitcoin Dominance Soars Above 50%, Emerging as the Crypto Safe Haven

Bitcoin is making a strong comeback, currently priced at $26,684 and holding over 50% of the total cryptocurrency market, boasting a market cap of approximately $520 billion. This milestone is significant as it contrasts with the stagnation or decline of many alternative cryptocurrencies (altcoins). Ethereum, the closest rival, sits at $1,632.09, with other altcoins showing modest gains or losses. Bitcoin's resurgence aligns with historical trends, often thriving during bear markets, cementing its status as a digital "safe haven." Despite gains, it remains below its peak dominance levels, but its return to prominence is noteworthy.

U.Today - 1072 ngày trước

Animoca Game Studio Pioneers Bitcoin-Backed Metaverse Token, Ushering in Bitcoin's Next Phase

Animoca Brands subsidiary Darewise Entertainment is set to introduce the first-ever metaverse token on the Bitcoin blockchain. The token is aimed at powering a comprehensive ecosystem for gaming, brands, and real-world experiences. This move represents a significant expansion of Bitcoin's capabilities beyond a store of value. The metaverse token will facilitate in-game assets and virtual lands for the Life Beyond metaverse project, marking a new era for Bitcoin. Darewise Entertainment is partnering with Horizen Labs to develop and expand the Ordinals ecosystem on Bitcoin, with more innovations expected in the coming months.

Bitcoin News - 1073 ngày trước