On Monday, U.S. spot bitcoin exchange-traded funds (ETFs) experienced another round of outflows, shedding $36.7 million since the outflows on Friday. Additionally, after the close of Monday’s market, Grayscale’s Bitcoin Trust (GBTC) offloaded 2,524.1 bitcoins valued at $159.25 million. Blackrock’s IBIT and Fidelity’s FBTC Lead in Bitcoin Accumulation as GBTC Sells Off Since the trading…
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Bitcoin Depot, the largest Bitcoin ATM operator in the United States, has reported robust revenues despite the highly volatile nature of cryptocurrency prices. In its recently filed 10-K annual report on April 15, the company revealed that its revenues in 2023 and 2022 amounted to $689 million and $647 million, respectively, showing no significant correlation…
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US prosecutors have charged a man with wire fraud and money laundering in connection with a large-scale illegal ‘cryptojacking’ operation. Charles O. Parks III, also known as “CP3O,” allegedly defrauded two cloud computing providers, resulting in losses of $3.5 million, while using their resources to mine cryptocurrencies worth approximately $970,000, including Ether, Litecoin, and Monero,…
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The South Korean “crypto tax crackdown” continues its nationwide tour, moving on to the city of Yeongcheon in North Gyeongsang Province. While crypto trading profits are not yet subject to taxation in South Korea, local authorities have been seizing and liquidating coins from so-called “tax delinquents” in a countrywide crackdown. South Korean ‘Crypto Tax Crackdown’…
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The Department of Justice (DOJ) is reportedly reconsidering selecting a prominent New York law firm to handle a critical assignment related to Binance, due to the firm’s prior work for rival exchange FTX. As part of a plea agreement resolving anti-money laundering and sanctions violations charges, the DOJ and the Treasury Department’s Financial Crimes Enforcement…
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The United Arab Emirates (UAE) recorded $25b in crypto transactions in 2022. Now, it is adopting accommodative regulatory policies to pursue further investment, according to a report published Monday. The Dubai Multi Commodities Centre’s (DMCC) report explored the market potential and opportunities associated with Web3 applications. These applications leverage blockchain to create decentralized digital infrastructure,…
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BlackRock’s Bitcoin ETF stands out as the sole spot Bitcoin fund in the United States to experience inflows on Monday, while other ETFs reported either zero inflows or even outflows. According to data from Farside Investors, the iShares Bitcoin Trust (IBIT) recorded net inflows of $73.4 million on April 15, although this figure decreased from the…
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Most young South Koreans are losing faith in the national pension system, a new survey has found – with many stating they see crypto and stocks as a better alternative. The study found that more than three-quarters of people aged 20-39 “don’t trust” state-issued pensions. Over half of respondents who said they were making their…
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Solana developers on Monday announced a mainnet beta update, version 1.17.31, aimed at addressing the network’s recent congestion problems. This update specifically tackles issues caused by spam transactions, which have significantly slowed processing times and caused frequent transaction failures. In addition to alleviating network congestion, it is expected to stabilize issues related to recent open…
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Winklevoss Capital, an investment firm founded by twin brothers Cameron and Tyler Winklevoss has invested $4.5 million in a non-league football club which is owned by crypto podcaster Peter McCormack. In an announcement, the UK-based football club Real Bedford (RBFC) said, following the investment both of the Winklevoss brothers will assume the role of co-owners…
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