Bitcoin experienced a significant price collapse amid continued outflows from Grayscale’s converted GBTC spot Bitcoin ETF. According to data from CoinMarketCap, the leading cryptocurrency dropped to as low as $60,800 on Tuesday, a 17% decline from its all-time high. The decline in Bitcoin price came after a significant outflow of $643 million from the $25 billion Grayscale…
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Lawyers representing former FTX CEO Sam Bankman-Fried, aka SBF, have criticized the government’s proposal for a maximum sentence of 50 years in prison, saying it is “not justice.” In response to the government’s sentencing recommendation filed on March 15, SBF’s attorneys, Marc Mukasey and Torrey Young, penned a letter to Judge Lewis Kaplan, branding the proposed sentence…
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A group of lawmakers in Russia introduced a bill that would extend money laundering controls to digital ruble transactions. The proposal, spearheaded by the Chairman of the State Duma Committee on the Financial Market Anatoly Aksakov, establishes different responsibilities for platform participants and the Central Bank of Russia, which is appointed as the main AML…
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The top Argentinian financial regulator says it plans to “supervise” the Latin American nation’s crypto service providers. The National Securities Commission (CNV) said on March 18 that it would “proceed” to police the nation’s trading platforms. It will also create a national registry of crypto platforms, which will likely need to apply for operating licenses.…
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Investment management firm BlackRock is launching a new fund in collaboration with Securitize, as per a recent SEC filing. The fund, registered in the British Virgin Islands, operates as a pooled investment fund. This structure allows investors to pool their funds together into a single portfolio, providing them with potentially higher returns. Securitize is a…
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A South Korean altcoin issuer has been arrested on fraud charges. Prosecutors in the country have accused him of duping investors out of $16.1 million. Per Newsis, the Seoul Southern District Prosecutors’ Office’s Virtual Asset Crime Joint Investigation Team arrested the unnamed individual on March 19. South Korean Altcoin Issuer ‘Conspired with Market Maker’ The…
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Reports from local Salvadoran press are raising questions about President Bukele’s announcement last week, when he transferred 5,690 BTC to a cold wallet, stating that all of these belonged to the country. Moises Alvarado, a Salvadoran journalist, found that 80% of the funds in this wallet came from Bitfinex, an international exchange, while 20% came…
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According to the latest statistics, Grayscale’s Bitcoin Trust (GBTC) experienced its most significant outflow on March 18, 2024, totaling $643 million. Onchain experts have closely observed GBTC’s activities as a considerable number of bitcoin have been moved out of the trust’s reserves. Record-Breaking Outflow Hits Grayscale Bitcoin Trust Grayscale has continued to face outflows, marking…
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This week, the popular American rapper and Wu-Tang Clan member, Ghostface Killah, declared his intention to release exclusive tracks on the Bitcoin blockchain. The influential hip-hop artist mentioned that this issuance will encompass a 10,000-piece collection, granting owners the rights to the music. Ghostface Killah Innovates With Bitcoin-Backed Music Rights Collection Tracks produced by Wu-Tang…
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With Bitcoin pushing through all-time highs, the demand for cryptocurrencies has steadily increased. However, most crypto projects historically have failed to reward their communities in the long run. That’s because they were either built on ponzinomics, lack of real value generation, or real-world rewards to incentivize their communities. To solve this issue, Lingo has revolutionized…
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