[ad_1] Bankrupt crypto lender BlockFi is set to commence its first interim crypto distributions through Coinbase (NASDAQ:COIN) in July 2024. This move marks a significant step towards recovery for BlockFi and its customers following the fallout from the collapse of the FTX exchange. BlockFi’s Journey Through Bankruptcy BlockFi was one of the initial victims of the contagion triggered by the collapse of the crypto exchange FTX in early November 2022. Less than a month after halting withdrawals from its platform, BlockFi filed for Chapter 11 bankruptcy protection on November 28, 2022. Since then, the company has been working through the…
Author: dfrancis36
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[ad_1] Former US President Donald Trump is set to make a highly anticipated appearance as a keynote speaker at the upcoming Bitcoin 2024 Conference in Nashville, scheduled from July 25-27. This has created a buzz of excitement among crypto investors as rumors suggest that Trump may deliver a significant announcement during his speech. Bitcoin To Become Strategic Reserve Asset For The US? According to Dennis Porter, co-founder of the non-profit organization Satoshi Act, Donald Trump intends to unveil BTC as a strategic reserve asset for the United States. Dennis Porter’s announcement on Thursday. Source: Dennis Porter on X Convinced of…
[ad_1] Inflows into all 11 spot Bitcoin ETFs have surpassed $1 billion over the past three days, marking a remarkable milestone in the cryptocurrency market. Since their launch earlier this year, these ETFs have accumulated lifetime inflows of $17 billion. On July 16th alone, Bitcoin ETFs saw $420 million in inflows, reaching a six-week high according to Coinglass. BlackRock and Fidelity Lead the Inflow Surge BlackRock’s (NYSE:BLK) ETF, IBIT, captured the largest share of these inflows, accumulating over $200 million on Tuesday. Meanwhile, Fidelity’s FTBC amassed $61 million the same day. These substantial investments highlight growing institutional interest and confidence…
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[ad_1] Rising as a major competitor for a big breakthrough is THORChain (RUNE). Rune has showed strength, recovering by around 23% during the previous week following a recent fall to $3.10. At $4.22 right now, the coin is attracting both traders and analysts, with some even seeing a solid upward path. Related Reading Market Statistics And Growing Hope With a market capitalization of $1.41 billion and a 24-hour trading volume of $207 million as of the most recent figures, THORChain represents a 0.06% market domination. Driven partly by the bullish phase in the bitcoin market, the token’s recent 2.27% growth…
[ad_1] Cryptocurrency exchange Kraken has expanded its custody services to institutional clients in the UK and Australia. This step reportedly marks the first international expansion of the service following its launch in the US as a solution for digital asset management.Kraken Custody Expands GloballyInitially launched in the in March, Kraken Custody targets institutional clients with a platform for managing digital assets. Among its features, Kraken Custody offers security protocols and access controls. These features are integrated into the broader Kraken product suite, offering institutions with solutions for their crypto investment strategies. Additionally, Kraken Custody enables institutions to manage and scale…
[ad_1] Crypto and politics have begun to go hand in hand as the crypto community rallies behind pro-crypto politicians. Ethereum’s co-founder Vitalik Buterin recently had something to say about this growing trend and why it is against the values of the crypto industry. Crypto Is More Than Just Money In his article arguing against the support for ‘pro-crypto’ politicians, Vitalik noted that crypto is more than just money and that the crypto community shouldn’t be rallying behind a politician because they support people’s rights to hold and spend these tokens. He gave a rundown of why crypto was created in…
[ad_1] The German government has sold all of its Bitcoin (BTC) in just two weeks. The reason for the substantial Bitcoin dump was unveiled in a recent statement by the Saxony Central Office for the Protection and Realization of Virtual Currencies. Why Germany Sold All Its Bitcoin In a blog post published on July 16, the Saxon Central Office and Frankfurt Bankhaus Scheich Wertpapierspezialist AG, a German securities trading bank, announced that they had successfully completed the sale of approximately 49,858 BTC. Starting on June 19, 2024, the German government began to sell off its massive Bitcoin reserves, officially concluding…
[ad_1] FTX, a bankrupt cryptocurrency exchange, and the United States Commodities Futures Trading Commission (CFTC) have agreed to a $12.7 billion settlement. This agreement resolves a 19-month lawsuit. The settlement follows months of negotiations and now awaits court approval, as shown in a July 12 filing.Settlement Includes RestitutionThe CFTC sued FTX, its former CEO Sam Bankman-Fried, and FTX’s sister trading firm Alameda Research in December 2022. The lawsuit claimed the firm committed fraud and made misrepresentations by marketing FTX.com as a digital commodity asset platform.The settlement agreement includes $8.7 billion in restitution and $4 billion in disgorgement. The CFTC did…