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Galaxy Digital’s CEO foresees a delay in U.S. crypto regulation until post-2024 election s amid the firm’s report of increased Q3 losses. Galaxy Digital Holdings CEO Michael Novogratz voiced skepticism regarding the advancement of cryptocurrency regulations in the U.S. prior to the upcoming 2024 presidential elections. His comments came amid market speculation surrounding the imminent approval of the first U.S.-based Bitcoin exchange-traded fund (ETF) by the SEC. During the company’s earnings call for the third quarter, Novogratz remarked that any new regulatory decisions are unlikely with the election on the horizon, but post- election could see a significant drive in progress, given the cadre of knowledgeable individuals in Washington.  You might also like: Bitcoin’s whale-sized moves hint at $37k ascent Novogratz further opined that a pivot in the Federal Reserve’s interest rate policy might occur in the upcoming year, potentially in the first quart...

After acquiring the crypto tax platform Accointing in October 2022, Glassnode is selling the business to focus on DeFi and institutional offerings. Cryptocurrency intelligence firm Glassnode has said it’s dropping crypto tax-related projects to focus on new solutions targeting institutional investors and decentralized finance (DeFi). Glassnode, on Nov. 6 announced the sale of its crypto-focused tax platform known as Accointing to the European crypto compliance provider Blockpit. The firms declined to disclose the size of the deal to Cointelegraph, only revealing that the transaction was a “multimillion-dollar deal.” “Glassnode will exit the crypto tax space with the sale of Accointing to Blockpit,” a spokesperson said, adding that the deal enables the firm to deepen its focus on delivering new Digital Asset Intelligence Solutions to its institutional clients. “We have used the last months to reshape our infrastructure, enabling our move into DeFi data solutions and expansions into ot...

Data shows that long-term Bitcoin (BTC) holders are still holding strong despite the modest price decline. According to a Nov. 2nd tweet by crypto fund founder Dylan LeClair, 88.5% of the total Bitcoin supply has not moved in over three months . This indicates that the majority of Bitcoin holders are not selling their coins. The hilarious thing is that 88.5% of the #bitcoin supply hasn't moved in the last three months . Wall Street is gonna have to really pump this thing to get hodlers to part with their coins. $BTC pic.twitter.com/CtD7GoA9ka — Dylan LeClair 🟠 (@DylanLeClair_) November 2, 2023 In a Nov. 3rd YouTube video, popular crypto influencer CryptosRUs also highlighted that Bitcoin holders are continuing to accumulate. He points to data showing that the number of Bitcoin holders and the amount of Bitcoin being held are near all-time highs. CryptosRUs believes the recent Bitcoin price decline is simply a healthy pullback following the rapid price surge, rat...

Marathon Digital, a Bitcoin (BTC) miner, has teamed up with renewable energy asset manager Nodal Power to test a 280 kW Bitcoin mining project in Utah, according to a joint statement released on Nov. 2. The project will use methane gas from landfill waste to generate electricity which will be channeled towards BTC mining.  Today, we're announcing the energization our first #Bitcoin mining pilot project powered by renewable, off-grid energy from a landfill . The project is currently fully energized and operational. Learn more: https://t.co/RnqtJOvOCa pic.twitter.com/U1UPEgwmRm — Marathon Digital Holdings (NASDAQ: MARA) (@MarathonDH) November 2, 2023 This initiative aims to tackle greenhouse gas emissions by employing renewable energy sources for its mining processes. According to the Environmental Protection Agency (EPA), municipal waste was responsible for 14.3% of methane emissions in the United States in 2021. The EPA sees the potential of capturing and us...

Oct. 31 marks the 15th anniversary of the white paper from Satoshi Nakamoto, the pseudonymous person or persons that introduced the world to Bitcoin. Today, the token sits at $34,494 according to data from CoinGecko, the world’s largest data aggregator. Bitcoin through the years Following the release of the white paper , Bitcoin as a cryptocurrency was launched in 2009, with the first genesis block being mined on Jan. 9. Four years later, the world’s first cryptocurrency was sitting at $204. Price of BTC on Bitcoin White paper Day 2013: $204 2014: $337 2015: $312 2016: $699 2017: $6369 2018: $6332 2019: $9172 2020: $13,537 2021: $61,837 2022: $20,624 2023: $34,494 — CoinGecko (@coingecko) October 31, 2023 You might also like: Apple quietly removes bitcoin whitepaper from latest macOS Beta In the next four years, the cryptocurrency reported growth until 2017, where it was reported at $6,369 on Oct. 31 in that year. Bitcoin then continued to report consistent ...

From market metrics to ETF aspirations, uncover what drives BTC’s price in October. Riding the wave of a largely positive October for cryptos, Bitcoin (BTC) breached the $35,000 barrier on Oct. 23, a high it hadn’t seen since May 2022 As of Oct. 24, the price of BTC has been oscillating between $34,000 and $34,500, demonstrating a slight consolidation after the recent high. Moreover, the year has been fruitful for BTC so far, with its year-to-date (YTD) gains exceeding 100%, specifically standing at 103%.  This bullish momentum is largely fueled by the anticipation that a spot BTC ETF might soon receive a green light, escalating mainstream adoption. Several key players like Grayscale and Blackrock have thrown their hats in the ring, applying for ETF approval, adding more fuel to the market’s bullish stance.  Let’s delve deeper into the factors influencing Bitcoin’s performance, the metrics, and market sentiments and try to understand where BTC might be...

Bitmain, the largest maker of Bitcoin (BTC) mining rigs, said it plans to launch the Aleo mining machine .  The Aleo project uses Zero Knowledge Proof (ZKP) technology and provides full-stack programmability, and users can build privacy applications on the Aleo network. Aleo aims to create a blockchain network that considers decentralization, scalability, and privacy protection.  “The Aleo project deeply uses Zero-Knowledge Proof ( ZKP ) technology and aims to build a blockchain network that takes into account decentralization, scalability, and privacy protection.” Aleo project Earlier, it was reported that the company partially failed to pay salaries to employees for September due to its difficult financial situation. The company discovered negative cash flow for the month. Bitmain also fired three workers for “illegally publishing the company’s salary announcement.” You might also like: Bitmain fired employees after salary data leak However, shortly before the ...

Michael Saylor’s big bet on Bitcoin is paying off for MicroStrategy, despite the cryptocurrency’s steep price decline this year. MicroStrategy has accumulated a stockpile of 152,000 bitcoin s purchased for $4.52 billion as of June 28, 2023. With the price of bitcoin currently around $29,865, the firm is sitting on unrealized gains of over $60 million for its holdings. Also read: Shiba Inu Price Prediction (SHIB): October End 2023 JUST IN: Michael Saylor’s MicroStrategy #Bitcoin investment is currently at a $60,000,000 unrealized gain. — Watcher.Guru (@WatcherGuru) October 22, 2023 MicroStrategy remains firm with Bitcoin HODL strategy The results validate a long-term investment strategy Saylor has stuck to, even amid extreme volatility. While the crypto bear market has ravaged prices, MicroStrategy continues holding and acquiring more bitcoin when opportunities arise. In April and June of this year, with bitcoin trading near $30,000,...

When delving into the realm of content creation, three pivotal elements come to the forefront: “perplexity,” “burstiness,” and “predictability.” Perplexity, at its essence, gauges the intricate nature of the text. On a separate note, burstiness scrutinizes the ebbs and flows of sentence structures, accentuating the need for diversity. Lastly, predictability becomes a focal point as it revolves around the reader’s ability to anticipate the subsequent sentences. The human touch often weaves intricate sentences with a tapestry of both complexity and brevity, creating a harmonious contrast. In contrast, AI-generated sentences tend to maintain a consistent cadence. Hence, as we embark on the journey of crafting the ensuing content, it’s imperative to infuse it with a generous dose of perplexity and burstiness while steering clear of predictability. The medium of communication shall be English. Now, let’s reimagine the following narrative...

Crypto analyst Jason Pizzino examined historical stock market cycles and predicted that Bitcoin could see significant price increases. In an Oct. 9 YouTube video, crypto analyst Jason Pizzino took a deep dive into historical stock market cycles. He used that data to predict where the price of Bitcoin (BTC) could be headed in a new video posted on October 9, 2023. Pizzino claimed that if you look back over the last 100 years, stock markets tend to follow approximate 20-year cycles. At the end of each cycle, markets historically hit a peak mania period where price s surge dramatically before eventually crashing down. You might also like: Jefferies calls Bitcoin a safeguard against currency inflation He pointed to several examples of these cycle peaks and crashes – the lead-up to the 1929 peak and Great Depression crash, the 1960s bull market peak and 1970s stagflation crash, the 1980s Japanese asset bubble peak and crash, the 2000 dot-com bubble peak and the 2008 f...

The cryptocurrency landscape witnessed a mix of growth and setbacks this week. While Bitcoin and Solana experience surges, Ethereum and Tron face challenges. What’s driving the market? The cryptocurrency market has shown a predominantly positive trend over the week. Most coins have reflected bullish sentiments, indicating a potentially strong period for the crypto industry. Bitcoin (BTC) is trading at around $27 as of Oct. 6, marking a 2.5% growth over the week. This uptick is largely attributed to the anticipation of the U.S. SEC’s approval of a Bitcoin ETF. Ethereum (ETH), however, displayed a different trend. Its price decreased by around 2.2% over the week, settling at $1,6. Meanwhile, Solana (SOL) stood out with its performance, registering a significant 16% surge. As of Oct. 6, its value has reached $23. Furthermore, according to DeFi LIama, the total value locked (TVL) in Solana reached its year-high at $330, suggesting increased activity and investor sentiments....

In a Sept. 22 post on X, Bloomberg Intelligence analyst James Seyffart reported Bitwise, the crypto index fund manager, has withdraw n their application to convert $BITC from a Bitcoin futures fund to a Bitcoin and Ethereum futures fund. This means the fund will remain as just Bitcoin exposure. Reason unknown Seyffart shared a letter from Bitwise’s General Counsel Katherine Dowling to the Division of Investment Management at the U.S. Securities and Exchange Commission (SEC) that said the trust is no longer seeking to change the strategy by the amendment . However, the letter did not provide much detail beyond its Aug. 10 submission. NEW: @BitwiseInvest has withdrawn their application to convert $BITC from a #Bitcoin futures fund to a Bitcoin & Ethereum futures Fund. It will remain just Bitcoin exposure. pic.twitter.com/ubQ6qT15vy — James Seyffart (@JSeyff) September 22, 2023 The analyst added that this news is not something to read into just yet; however, if V...

A Matrixport analyst envisions a scenario, where Ethereum price can “materially drop lower” by the end of the year. Ethereum (ETH) price can go down to the $1,000 mark should the cryptocurrency decline below $1,500 amid a possible sell-off initiated by FTX creditors. A Matrixport analyst said in a recent research report that FTX creditors could trigger an “overhang for altcoins for the rest of the year” if they get a green light from a US court. “A decline below $1,500 could bring back the idea that Ether could decline to $1,000 — a level that would appear justified based on the revenue projection from the Ethereum ecosystem.” Matrixport analyst The analyst notes ETH at current prices is below the 50d MA, which is a bearish sign. Besides, Ethereum is underperforming Bitcoin as the trend (20d) MA shows ETH/BTC ratio is decreasing, the analyst added. As of press time, ETH is trading at $1,611, according to CoinMarketCap data. Solana funding r...

FTX’s bankruptcy estate manages a $7 billion portfolio that includes Solana, Bitcoin, and the Bahamas real estate , as court filings reveal a potential platform relaunch amidst staggering customer claims. Amid legal entanglements and looming court appearances, FTX finds itself contending with a bankruptcy estate valued at roughly $7 billion, according to recent court documents. These filings also offer a roadmap for the exchange’s potential reboot, named tentatively as “FTX 2.0.” Court filings FTX’s asset breakdown and legal quagmires Documents filed with the court indicate that FTX’s bankruptcy estate has managed to amass a wide range of assets. This includes around $1.16 billion in Solana (SOL) tokens and $560 million in Bitcoin (BTC). The estate’s liquidity has $1.5 billion in cash, on top of the $1.1 billion it had as of November last year. The estate also values its holdings in various other cryptocurrencies at $3.4 billion as of the end of Au...

Also Read: Bitcoin, Ethereum To Rise Amid Positive US Fed & Inflation Data or Fall As Market Makers Exit Interestingly, the SEC Chair spoke about the need to protect investors, saying the Crypto Market s should not be allowed to harm them. In his speech, Gensler mentioned a 2018 conversation by Binance ’s then Chief Compliance Officer Samuel Lim with a colleague about how the crypto exchange is operating as an unlicensed securities exchange in the the United States . The same was included in the SEC’s recent complaint against Binance , which alleged it of lying to regulators. Gary Gensler Warns Crypto Market, Again Gensler reiterated in his opening remarks that most cryptocurrencies qualify as securities by the virtue of meeting the investment contract test. However, the SEC Chair made it a point to warn that lack of compliance could lead to more and more anti-crypto enforcement actions. He said, “not liking the message is not the same thing as not receiving i...

Data center operator US Bitcoin Corp (USBTC) has announced it will host 8,500 Bitcoin miners from the insolvent crypto lender Celsius at its Alpha Site.  A press statement on Aug. 31 revealed that the miners are expected to have an estimated hashrate of 820 petahash (PH). The hosting arrangement is part of a more significant deal that could see USBTC managing as many as 310,000 Bitcoin (BTC) miners . These miners would belong to Celsius and other clients like Teslawatt, Foundry USA, Marathon Digital, Decimal Group, and Sphere 3D. In May, USBTC, in collaboration with other partners in the Fahrenheit LLC consortium, won the auction to manage Celsius assets. These assets comprise a lending portfolio and approximately 122,000 mining machines. You might also like: Hut 8 receives a $50m loan from Coinbase’s subsidiary USBTC will manage the bankrupt lender’s mining division and play a key role in setting up and operating a 100-megawatt Bitcoin mining facility. Whe...

The manufacturer of Bitcoin mining machines, Canaan, released financial results for the quarter ending on June 30. The firm’s financial statements report total revenue of $73.9 million, a 33.7% increase compared to the previous quarter. A  surprising turn On Aug. 29, Canaan, which is listed on the Nasdaq, announced the company saw an increase in mining revenue . At the end of the quarter, the computing solutions provider shared that the mining revenue grew to $15.9 million, a 43.4% increase from $11.1 million in Q1 of 2023 and a 105.1% increase from the same period in 2022. The company’s chief financial officer, James Jin Cheng, also quoted a notable 115% increase in cryptocurrency assets on Canaan’s balance sheet, which would include 747 Bitcoins owned by the firm. This increase is likened to two factors, according to the statement: improved uptime and enhanced Bitcoin rewards. At the same time, the second quarter included a net loss for the company of $110.7 million, like...

Pantera Capital, using stock-to-flow ratio as a tool, predicts a significant shift in Bitcoin (BTC) prices after halving in 2024. Pantera Capital, one of the leading crypto venture capitals, maintains a bullish outlook and expect BTC to reach $35,000 before halving before another leg up to $148,000 afterwards. The stock-to-flow ratio gauges a digital asset’s present supply in comparison to its new supply influx. This ratio measures an asset’s scarcity—higher values can hint possible price gains. At present, Bitcoin is trending at around the $26,500 mark. #Bitcoin recently experienced the longest period of negative year-over-year returns in its history, lasting 15 months. The longest period prior was just under a year. Our view is that we’ve seen enough – there’s just so long markets can be down. More: https://t.co/REfxkTp9CJ pic.twitter.com/UCEMMcznAM — Dan Morehead (@dan_pantera) August 23, 2023 Historical patterns show that halving events, which happens rou...