Quick Take The Stablecoin Supply Ratio (SSR) created by Glassnode has emerged as a significant factor in analyzing Bitcoin price action. The SSR, a ratio between Bitcoin supply and the supply of stablecoins expressed in BTC, serves as a proxy for the supply/demand dynamics between Bitcoin and USD. This ratio reveals that when it’s low, […]
The post How stablecoins have fueled the recent rise in Bitcoin’s value appeared first on CryptoSlate.

Worldcoin’s adoption continues to grow despite the growing privacy concerns from several jurisdictions. According to its website, registered users on its platform have reached almost 4 million in less than a year after its launch, registering more than 600,000 accounts within the past week. Worldcoin, a crypto project co-founded by Sam Altman, is a blockchain-based initiative […]
The post Worldcoin userbase nears 4 million amid global privacy probes appeared first on CryptoSlate.

Quick Take Recent data from ByteTree highlights Bitcoin held in global Exchange Traded Products (ETPs) had crossed the one million Bitcoin mark, setting a new record. In the past 90 days, these ETPs have experienced a significant inflow of 133,000 BTC, largely attributed to the success of US spot Bitcoin ETFs. Interestingly, this surge in […]
The post Bitcoin ETPs surpass 1 million BTC, amid gold and bond ETF outflows appeared first on CryptoSlate.

Quick Take Data from BitMEX shows March began with the first total outflow since Feb. 21. The day saw an outflow of $140 million, significantly impacted by a massive $492 million outflow from the Grayscale Bitcoin Trust (GBTC), marking one of the largest single-day outflows. According to BitMEX data, the Grayscale Bitcoin Trust (GBTC) has […]
The post GBTC AUM sees modest $1.6 billion drop post-ETF launch, despite major outflows appeared first on CryptoSlate.

Binance is in hot water in Nigeria in the aftermath of its settlement with the U.S. Department of Justice (DOJ). Nigeria’s House of Representatives Committee on Financial Crimes issued an ultimatum to Binance CEO Richard Teng on Friday, according to a local news report. Ginger Onwusibe, the chairman of the committee, has asked Teng to […]
The post Binance CEO Richard Teng asked to appear before Nigerian committee appeared first on CryptoSlate.

The post Why has Bitcoin reached its ATH against major currencies but not USD? appeared first on CryptoSlate.

Consensys CEO and Ethereum co-founder Joseph Lubin said the world is on the cusp of a generational paradigm shift fueled by decentralization as the current monetary system of the world is failing. He made the statements during a fireside talk at ETHDenver, where he discussed his thoughts on what could drive the next supercycle in […]
The post Consensys CEO believes decentralization will lead to a ‘generational paradigm shift’ appeared first on CryptoSlate.

The US Energy Information Administration (EIA) agreed to stop the emergency survey of Bitcoin miners as part of an agreement to end the lawsuit filed by several industry players, including the Texas Blockchain Council. According to the March 1 court filing, the EIA must destroy any survey information it has already received and information yet […]
The post Biden administration’s notorious Bitcoin mining survey halted after legal backlash appeared first on CryptoSlate.

Crypto industry losses amounted to $67 million in February over 12 incidents, with hacks accounting for 97.54% of funds stolen, according to Immunefi’s latest crypto losses report. Meanwhile, the remaining 2.46% of the funds stolen were lost due to fraud. Despite the significant losses during the month, there was a notable decrease compared to January […]
The post Crypto losses hit $67 million in February, pushing yearly losses to $200 million – Immunefi appeared first on CryptoSlate.

In the recent SlateCast episode, Texas Blockchain Council Chairman President Lee Bratcher discussed the controversial emergency survey recently issued by the Energy Information Administration (EIA) regarding Bitcoin mining energy usage. As Bratcher explained: “[The EIA] created this farce of an emergency and rushed it through without the notice and comment period.” He elaborated that the […]
The post Texas Blockchain Council challenges controversial Bitcoin mining energy survey appeared first on CryptoSlate.

Hungary is advancing a legislative proposal that would enable banks, investment funds, and asset managers to offer services in Bitcoin and other cryptocurrencies, according to a March 1 report by Bloomberg Law. The initiative marks a significant development in Hungary’s financial sector, aligning with a broader European movement towards the adoption of digital assets. Should […]
The post Hungary issues draft law allowing banks to offer crypto services appeared first on CryptoSlate.

Bitcoin (BTC) surged 6% on Feb. 26 to a new two-year high of $54,910 after US markets began trading, an indication of rising interest in the flagship crypto from retail and institutional investors. Bitcoin was trading at roughly $54,650 as of press time, up 5.6% on a daily basis, with a market cap of $1.07 […]
The post Bitcoin reclaims $54k two years after painful crash at the start of winter appeared first on CryptoSlate.

Avail, a blockchain infrastructure project, raised $27 million in its seed funding round led by notable venture capital firms Founders Fund and Dragonfly, according to a Feb. 26 statement shared with CryptoSlate. The raised capital will fuel the development of Avail’s three fundamental products: Data Availability (DA), Nexus, and Fusion. These components, forming what it […]
The post Polygon spinoff Avail raises $27 million in seed funding to build Web3 infrastructure appeared first on CryptoSlate.

A group of Senate Republicans, led by Senator Ted Cruz of Texas, is taking legislative steps to restrict the Fed’s capacity to introduce a central bank digital currency (CBDC), spotlighting the issue as a potential focal point in the 2024 presidential campaign discussions. The legislative effort reflects broader concerns over privacy and the role of […]
The post Ted Cruz spearheading anti-CBDC bill over financial privacy, government overreach concerns appeared first on CryptoSlate.

Crypto mixer Tornado Cash has reportedly fallen victim to a significant backend exploit that has put user deposits and sensitive data at risk. The security breach was revealed in a Medium post by Gas404, a community member, on Feb. 26. The exploit represents a critical vulnerability for Tornado Cash, whose trading volume already suffered a […]
The post Tornado Cash website, discord offline after community finds malicious code in protocol’s backend appeared first on CryptoSlate.

Bitcoin has broken the $53,000 level for the first time since Dec. 4, 2021, and is currently sitting around $53,538 as of press time.  Ethereum is also up on the day, surpassing $3,150, an increase of 4% on the intra-day low. However, the strength of the Bitcoin-led rally can be seen in the ETH-BTC ratio, […]
The post Bitcoin breaks $53k for first time in over 2 years as trading volume surges 30% appeared first on CryptoSlate.

Quick Take Net realized profit-taking for Bitcoin has witnessed an unbroken streak of 128 days, starting from Oct. 20, 2023, until Feb. 25, 2024. This period saw Bitcoin’s price catapult from below $30,000 to $50,000, providing lucrative opportunities for investors. Defined by Glassnode, the net realized profit/loss represents the cumulative profit or loss from all […]
The post Bitcoin investors realize net profits for 128 consecutive days appeared first on CryptoSlate.

Quick Take The total amount of funds allocated in open futures contracts or “futures open interest” is nearing an all-time high for Ethereum and Bitcoin in terms of notional value. Ethereum’s open interest currently stands at $10.5 billion, aligning with it crossing the significant price threshold of $3,000. This is particularly noteworthy as its current […]
The post Ethereum and Bitcoin futures open interest near record highs in notional value appeared first on CryptoSlate.

BlackRock’s iShares Bitcoin ETF (IBIT) has set a new benchmark in the cryptocurrency investment space by amassing over $2 billion in assets under management (AUM) just ten days after its trading debut, according to Bloomberg Terminal data. BlackRock now holds almost 50,000 BTC through its ETF. The rapid accumulation reflects the strong investor interest but […]
The post BlackRock’s IBIT ETF now holds almost 50,000 BTC as AUM hits $2 billion appeared first on CryptoSlate.

In a landmark judgment, Mark Scott, formerly a high-ranking lawyer at Locke Lord LLP, received a 10-year prison sentence on Jan. 25 for laundering $400 million derived from the infamous OneCoin Ponzi scheme. The sentencing at the Southern District of New York followed Scott’s 2019 conviction on multiple counts of bank fraud and money laundering. […]
The post OneCoin lawyer sentenced to 10 years in prison over laundering $400 million appeared first on CryptoSlate.

A novel aspect of the new spot Bitcoin ETFs, as approved by the SEC, is the cash-creation mechanism for issuing and redeeming shares. The ETFs are considered commodity-shares ETFs, yet, as BlackRock points out in its iShares Bitcoin ETF (IBIT) prospectus, “all spot-market commodities other than bitcoin, such as gold and silver, employ in-kind creations […]
The post BlackRock warned SEC lack of in-kind orders for Bitcoin ETF shares could hurt investors appeared first on CryptoSlate.