In a significant move to solidify its position in the cryptocurrency landscape, Tether, the issuer of the USDT stablecoin, has enhanced its Bitcoin portfolio by acquiring 7,629 BTC, amounting to approximately $705 million. According to on-chain analysis conducted by Arkham Intelligence, this latest purchase brings Tether’s total Bitcoin holdings to an impressive 82,983 BTC, equivalent
As the calendar turns towards a new year, the infamous figure known as the “Blockchain Bandit” has resurfaced, orchestrating a colossal transfer of 51,000 ETH—amounting to approximately $172 million—into a consolidated multisig wallet. This shocking move occurred on December 30, following a lengthy period of inactivity. Crypto sleuth ZachXBT provided crucial insights by revealing that
In the wake of prolonged conflict and economic instability, Syria finds itself in desperate need of innovative solutions to breathe life into its ailing economy. The Syrian Center for Economic Research (SCER) has put forth an ambitious proposal aimed at legalizing Bitcoin and digitizing the Syrian pound. This transformative approach seeks not only to combat
As the landscape of finance evolves, traditional institutions are increasingly looking toward the world of cryptocurrency. A noteworthy example is Morgan Stanley’s subsidiary, E-Trade, which is on the verge of introducing crypto trading services. This strategic decision is fueled by expectations of a more favorable regulatory atmosphere following the recent political transition. Analysts have taken
In a landscape of rapidly evolving cryptocurrency prices, renowned analyst Peter Brandt has issued a stark warning concerning Bitcoin’s future trajectory. His bearish forecast suggests that Bitcoin could plummet to as low as $78,000, primarily due to a head and shoulders pattern he has identified. This technical analysis pattern is often seen as a precursor
The evolving landscape of cryptocurrency regulation continues to present challenges for users and investors alike, particularly as the Internal Revenue Service (IRS) seeks to clarify and implement new reporting requirements. In light of these developments, the IRS has introduced a temporary relief measure that is poised to significantly impact how taxpayers approach their crypto transactions,
In the ever-evolving landscape of cryptocurrencies, Cardano (ADA) is currently experiencing a robust revival, with its price surging by over 10.75% in just 24 hours. The token has crossed the critical $1 mark, trading at approximately $1.0481—a significant psychological barrier that it has struggled to breach in recent months. This resurgence raises a vital question:
In a significant legal maneuver, Celsius Network has initiated an appeal as of December 31, appealing Judge John Dorsey’s ruling that dismissed its $2 billion defamation claim against the collapsed FTX exchange. This appeal introduces another layer to the already intricate legal proceedings enveloping both Celsius and FTX, highlighting the ramifications of reputational damages within
On December 31, 2022, Switzerland witnessed a significant development in the realm of cryptocurrency. The Swiss Federal Chancellery registered an initiative that proposes the Swiss National Bank (SNB) to include Bitcoin in its reserves. Spearheaded by a coalition of ten Bitcoin proponents, including notable figures like Giw Zanganeh—Vice President of Energy and Mining at Tether—and
The Bitcoin market has gained a reputation for its cyclical nature, particularly during the final quarters of halving years when price rallies often occur. Traditionally, this trend has been buoyed by strong investor demand. However, recent movements in Bitcoin’s price suggest that this customary seasonality may be dissipating. Price fluctuations over the past two weeks
