Following Genesis Global Capital’s receipt of authorization to divest its Grayscale fund holdings, reports disclose that Genesis executed the sale last week. The proceeds were then used to procure 32,041 bitcoin, aimed at reimbursing its cliente…
Category: BTC
Bitcoin’s Path to Halving — Anticipated Increase in Difficulty Sets Stage
Based on current metrics, the Bitcoin blockchain is set to undergo another difficulty adjustment before the halving, with an anticipated increase of 1.2% to 2.16% around April 11, 2024. Following this adjustment, there will be 1,344 blocks remaining un…
Double or Nothing: Proshares Unveils BITU and SBIT ETFs for Bullish and Bearish Bitcoin Bets
On Tuesday, Proshares introduced two new offerings: the Ultra Bitcoin exchange-traded fund, sporting the ticker BITU, and the Ultrashort Bitcoin exchange-traded fund (ETF), known as SBIT. While BITU is designed to deliver two times the daily returns of…
CFTC Takes Legal Action Against Kucoin, Highlights BTC, ETH, and LTC as Commodities
The U.S. Commodity Futures Trading Commission (CFTC) has filed a lawsuit against Kucoin, emphasizing the classification of bitcoin, ethereum, and litecoin as commodities. The enforcement action, launched in the U.S. District Court for the Southern Dist…
Mega Whale Moves 2,000 Dormant Bitcoins From 2010 in Third Series of Transfers This Month
On March 1, a well-known colossal whale holding bitcoins from 2010 activated 2,000 dormant bitcoins across 40 transactions in a single block. Just four days afterward, on March 5, this entity once more made waves by transferring 1,000 bitcoins originat…
British Man Who Lost 7,500 BTC Sues for Right to Search Council Landfill
A British computer expert, who inadvertently misplaced a hard drive containing 7,500 bitcoins, has initiated a legal action to compel the Newport City Council to permit him to search through the landfill where the storage device is believed to be burie…
Massive Bitcoin Shift: $6B Moved as 5th Largest BTC Wallet Reactivates After Years of Dormancy
This week, blockchain observers noticed that the “37X” wallet, once holding the title of the fifth-largest bitcoin wallet, was activated for the first time since 2019. This significant move involved the transfer of 94,504.03 bitcoin into …
Bitcoin’s Dormant Giants: March Sees Unprecedented Movement of Vintage BTC
In recent times, bitcoin has consistently remained above the $60,000 mark throughout the entire month of March. With its value soaring, many long-standing holders have started to transfer substantial quantities of dormant bitcoins from wallets that hav…
Report: Bitcoin’s Mining Landscape Braces for Shift as Halving Could Slash 100 EH/s of Hashpower
Based on a recent analysis, numerous outdated bitcoin mining devices likely powered up in response to the latest uptick in bitcoin’s value. However, with the anticipated block reward halving, it’s projected that around 100 exahash per sec…
From Peak to Present: GBTC’s Bitcoin Holdings Decrease by 266,827 BTC in 71 Days
As of March 22, the bitcoin holdings of Grayscale’s Bitcoin Trust (GBTC) have diminished by 27,917.37 compared to its status three days prior, now amounting to 350,252 bitcoin valued at approximately $22.2 billion. Since evolving into an exchang…