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US Banking Uncertainty to Drive Bitcoin Higher, Says BitMEX Co-founder Arthur Hayes

The uncertainty surrounding First Republic Bank (FRC) and the potential expansion of the Federal Reserve's emergency bank loan program, according to co-founder of BitMEX and crypto industry veteran Arthur Hayes, will cause Bitcoin (BTC) to rise. He thinks the Fed will increase market liquidity, which might increase the value of BTC and other risky assets. Hayes says that if the Federal Deposit Insurance Corporation (FDIC) takes over First Republic Bank, the Feds may expand the emergency bank loan program, resulting in more market liquidity and a rally in BTC.

The Daily Hodl - 1214 ngày trước

Crypto Oversight Bill To Be Introduced By U.S. House Within 2 Months

The U.S. House Financial Services and Agriculture Committees will draft legislation to regulate the crypto sector in the next two months, with the potential for President Joe Biden to sign within a year, said Rep. Patrick McHenry. The bill will address securities and commodities regimes and national security issues. Senator Cynthia Lummis, has also introduced a bipartisan bill for a regulatory framework, which she said will be stronger on national security and cybercrime. Meanwhile, pressure is mounting for Congress to legislate the crypto industry following recent banking and exchange collapses.

coindesk - 1214 ngày trước

Bitcoin Prices Expected to Skyrocket at Upcoming Halving Event

A report by Hamburg-based multinational investment bank, Berenberg suggests Bitcoin may outperform the market due to its commodity classification, decentralized blockchain protocol, and the upcoming halving that will reduce the rate of new coin production. The report states that Bitcoin is the only digital asset categorized as a commodity by the SEC. Bitcoin's halving cuts miner rewards in half, with the current reward of 6.25 BTC to be reduced to 3.125 by next spring. Berenberg predicts that the halving could cause a significant price increase for Bitcoin.

Decrypt - 1215 ngày trước

Binance Crypto Exchange Breaks Records with $1.5B Bitcoin Inflow in 30 Days

Binance, the largest crypto exchange by volume, received over $1.5 billion worth of Bitcoin in the last 30 days, with 51,386 BTC received this month alone, according to Coinglass. The exchange currently holds 588,129 BTC, and saw 22,590 BTC come in during the last seven days and almost 5,000 in the last 24 hours. Meanwhile, other exchanges experienced significant outflows, while Kraken and Gate saw upticks. Overall, 13,888 BTC flowed into exchanges this month, with Binance being the primary beneficiary.

The Daily Hodl - 1215 ngày trước

Bitcoin HODLers Remain Bullish, Adding 15,000 BTC Per Month

On-chain analytics firm Glassnode reports that Bitcoin HODLers, or long-term holders, are currently accumulating their holdings at a rate of 15,000 BTC per month. Despite selling during the bear market lows, HODLers have been showing strong accumulation behavior over the past few years. They have continued to add to their holdings throughout the current rally, suggesting long-term bullish sentiment. The monthly amount they have been adding to their holdings has been trending down, but the HODLer net position change remains positive.

Newsbtc - 1215 ngày trước

Global Payment Giant Mastercard Expands Payment Network with Crypto Firm Partnerships

Mastercard is planning to expand its cryptocurrency payment card program by seeking more partnerships with crypto firms, according to the company's head of crypto and blockchain, Raj Dhamodharan. Despite increased regulatory scrutiny and bank caution, Mastercard has already partnered with Binance, Nexo, and Gemini to offer crypto-linked payment cards in select countries. Mastercard aims to provide access to crypto safely, and users of its network undergo compliance checks. The company is also investing in crypto analytics technology, and is enthusiastic about blockchain technology, which powers cryptocurrencies.

U.Today - 1215 ngày trước

Binance Plans to Re-enter Japan via Regulated Exchange SEBC

Binance plans to reenter Japan after acquiring the licensed exchange platform, Sakura Exchange Bitcoin (SEBC). SEBC will terminate its services by May 31 and reopen as Binance Japan in June 2023, following identity verification and Know Your Customer checks. Users of SEBC must withdraw funds before May 28 or have them automatically converted to Japanese yen by June 5. Binance has reentered other markets by acquiring stakes in regulated entities after facing regulatory compliance issues. Japan eased regulatory demands for crypto platforms, making it easier to list new tokens.

cointelegraph - 1215 ngày trước

Robinhood Launches Fiat-to-Crypto On-Ramp for Decentralized Applications

Robinhood has launched "Robinhood Connect," a fiat-to-crypto on-ramp allowing users to buy and sell cryptocurrency directly to and from their self-custody wallet or natively in DApps. The service integrates with Web3 projects, allowing developers to embed it directly into applications. It is currently available in MyDoge, Giddy, and Slingshot ecosystems, with Exodus and Phantom support coming soon. Robinhood hopes to bring more people into the cryptocurrency space and break down the hurdles preventing broader adoption.

cointelegraph - 1215 ngày trước

US Government's Bitcoin Holdings Worth a Whopping $6 Billion: Glassnode Data

Glassnode data shows that the US government holds 205,514 BTC, valued at $6 billion, acquired through seizures like the Bitfinex hack and Silk Road takedown. The government's BTC holding is higher than that of whales like MicroStrategy, while the pseudonymous creator of Bitcoin, Satoshi Nakamoto, holds the most with 1 million BTC. In March, the US government sold 9,861.17 BTC for $215.5 million and is expected to sell more. Industry players have criticized the government's selling approach, as holding could have led to more profits.

CryptoSlate - 1215 ngày trước

Paypal Holdings, Inc. Announces New Feature Enabling Venmo Customers To Transfer Cryptocurrency

Venmo is introducing crypto transfers, enabling users to send cryptocurrencies to friends, family, PayPal accounts, and external wallets. The feature aims to provide more choice and flexibility in managing crypto assets and will be rolled out starting May 2023. This development is expected to strengthen Venmo's position in the crypto ecosystem, increase its user base, and encourage further adoption of cryptocurrencies.

PayPal Newsroom - 1216 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