Bitcoin price stabilizes near $83K as investors eye S&P 500 recovery
The world of cryptocurrency is constantly evolving, with Bitcoin being at the forefront of this digital revolution. As the pioneer and most popular cryptocurrency, Bitcoin has been making headlines for its price volatility in recent times. However, despite the ups and downs, one thing remains certain – BTC derivatives are still going strong.
Bitcoin’s price has been on a rollercoaster ride, with sudden surges and dips that have left many investors on edge. But amidst all this uncertainty, one thing is clear – whales, or large investors, are not expecting a significant price decline. This is evident from the strong performance of BTC derivatives, which are financial instruments that derive their value from the price of Bitcoin.
Despite the recent market turbulence, BTC derivatives have remained resilient, with trading volumes and open interest reaching record highs. This indicates that institutional investors and high-net-worth individuals are confident in the long-term potential of Bitcoin and are not deterred by short-term price fluctuations.
So why are whales still bullish on Bitcoin? One reason could be the increasing adoption and acceptance of Bitcoin as a legitimate asset class. With major companies like Tesla and Square investing in Bitcoin, and traditional financial institutions offering Bitcoin-related services, the cryptocurrency is gaining mainstream recognition and legitimacy.
Moreover, the limited supply of Bitcoin, with only 21 million coins in existence, makes it a scarce asset that is highly sought after. This scarcity, combined with the growing demand, is a recipe for a potential price increase in the future.
Of course, no one can predict the future of Bitcoin’s price with certainty. But one thing is for sure – BTC derivatives are a strong indicator of the market sentiment, and right now, they are pointing towards a positive outlook for Bitcoin. So, while the price may continue to be volatile, it seems that whales are confident in the long-term potential of this digital currency.
US members of Congress to launch bipartisan ‘Congressional Crypto Caucus’
A new caucus has been formed in the United States with the aim of solidifying the country’s position as a leader in the world of digital assets and blockchain technology. This exciting development comes at a time when the potential of these emerging technologies is being recognized and embraced by governments and industries around the globe.
The formation of this caucus is a significant step towards establishing the US as a frontrunner in the rapidly evolving landscape of digital assets and blockchain innovation. With a focus on promoting and supporting the growth of these technologies, the caucus aims to position the US at the forefront of this digital revolution.
Led by a group of forward-thinking lawmakers, the caucus will work towards creating a favorable regulatory environment for digital assets and blockchain technology. This will not only attract investment and foster innovation, but also ensure that the US remains competitive in the global market.
The potential of digital assets and blockchain technology is immense, with the ability to transform industries such as finance, healthcare, and supply chain management. By harnessing the power of these technologies, the US can drive economic growth and create new opportunities for its citizens.
The formation of this caucus is a testament to the growing recognition of the importance of digital assets and blockchain technology in shaping the future. It also highlights the commitment of the US government to stay ahead of the curve and lead the way in this rapidly evolving field.
As the world becomes increasingly digital, it is crucial for countries to embrace and adapt to these changes. With the formation of this caucus, the US is taking a proactive approach towards harnessing the potential of digital assets and blockchain technology, and securing its position as a global leader in this exciting and transformative space.
Judge tosses fraud suit against Richard Heart, US bill tackles crypto ATM fraud: Law Decoded
Senator Dick Durbin of the United States has recently introduced a new bill that aims to tackle the issue of fraud in the cryptocurrency industry. The proposed legislation specifically targets crypto ATMs, which have become increasingly popular in recent years.
According to Senator Durbin, the rise of crypto ATMs has also led to a rise in fraudulent activities, such as money laundering and terrorist financing. These machines allow users to easily buy and sell cryptocurrencies with cash, making it difficult to trace the source of the funds.
The bill, titled the “Cryptocurrency Fraud Prevention Act,” seeks to address these concerns by requiring crypto ATM operators to comply with the same anti-money laundering and know-your-customer regulations as traditional financial institutions. This would include collecting personal information from customers and reporting any suspicious transactions to the authorities.
In addition, the bill would also require the Department of Homeland Security to conduct a study on the use of cryptocurrencies in illegal activities and develop strategies to combat this issue. This would provide valuable insights and data to inform future legislation and regulations in the crypto space.
Senator Durbin emphasized the need for stricter regulations in the crypto industry, stating that “cryptocurrencies have become a magnet for scammers, hackers, and criminals looking to exploit the unregulated market.” He believes that this bill is a necessary step towards protecting consumers and preventing illicit activities in the crypto world.
The proposed legislation has received support from various organizations, including the Financial Crimes Enforcement Network and the Anti-Phishing Working Group. However, some critics argue that these regulations could stifle innovation and hinder the growth of the crypto industry.
As the use of cryptocurrencies continues to expand, it is crucial to address the potential risks and vulnerabilities that come with it. Senator Durbin’s bill is a significant step towards creating a safer and more transparent environment for crypto users and businesses.
MSTR stock pops 15% following Bitcoin weekend rally
The cryptocurrency market has been buzzing with excitement as Bitcoin’s value continues to soar. Many are wondering what has caused this sudden surge, and the answer may lie in an unexpected source: President Donald Trump.
In a recent announcement, Trump revealed his plans for a “US Crypto Reserve,” which would include popular cryptocurrencies such as Bitcoin, Ethereum, Solana, and XRP. This news has sent shockwaves through the market, with Bitcoin’s value skyrocketing in response.
The idea of a government-backed cryptocurrency reserve is a bold move, and one that has been met with both praise and skepticism. Some experts believe that this could be a game-changing moment for the cryptocurrency industry, as it would provide a level of legitimacy and stability that has been lacking in the past.
But what exactly does this mean for Bitcoin and other cryptocurrencies? For starters, it could lead to increased adoption and mainstream acceptance. With the backing of the US government, these digital assets would gain more credibility and trust from the general public.
Additionally, the creation of a US Crypto Reserve could also have a positive impact on the overall market. As more investors and institutions start to take notice and invest in these assets, it could lead to a surge in prices and a more stable market.
Of course, there are also concerns about government control and regulation. Some fear that this move could lead to stricter regulations and potentially limit the decentralized nature of cryptocurrencies. However, others argue that government involvement could actually bring more stability and protection for investors.
Only time will tell how this plan will unfold and what impact it will have on the cryptocurrency market. But one thing is for sure, President Trump’s announcement has caused a major stir and could potentially change the game for Bitcoin and other cryptocurrencies.
Crypto ETPs record $2.9B outflows, Bitcoin hit hardest — CoinShares
CoinShares, a digital asset management firm, has reported record-breaking weekly outflows in the cryptocurrency market. The company cited several factors for this trend, including the recent Bybit hack, a shift in the US Federal Reserve’s stance, and a previous buying streak of $29 billion.
The Bybit hack, which occurred earlier this month, has raised concerns about the security of cryptocurrency exchanges. This incident, along with other recent hacks, has caused investors to question the safety of their digital assets and has led to a decrease in confidence in the market.
In addition, the US Federal Reserve’s recent hawkish rhetoric has also contributed to the outflows. The central bank’s comments about potentially raising interest rates sooner than expected have caused uncertainty and volatility in the market. This has led investors to pull out their funds from the cryptocurrency market and seek more stable investments.
Furthermore, CoinShares noted that the market had seen a previous buying streak of $29 billion, which may have contributed to the record-breaking outflows. This influx of funds into the market may have caused an oversaturation, leading to a correction and subsequent outflows.
Despite the recent outflows, the overall sentiment towards cryptocurrencies remains positive. The market has seen significant growth in the past year, with more institutional investors and mainstream adoption. However, it is important to note that the market is still highly volatile and susceptible to external factors.
CoinShares’ report serves as a reminder that the cryptocurrency market is still in its early stages and is subject to fluctuations. As the market continues to mature, it is crucial for investors to stay informed and make educated decisions when it comes to their digital assets.
In conclusion, the recent record-breaking outflows in the cryptocurrency market can be attributed to a combination of factors, including security concerns, market volatility, and oversaturation. However, the long-term outlook for cryptocurrencies remains positive, and it is important for investors to stay vigilant and informed in this ever-evolving market.
Trump to host first White House crypto summit on March 7
The White House is set to host its first ever Crypto Summit on March 7, with President Trump leading the discussion on important topics such as regulations, stablecoins, and Bitcoin reserve legislation. This highly anticipated event will bring together top industry leaders and experts to share their insights and perspectives on the rapidly evolving world of cryptocurrency.
With the rise of digital currencies and blockchain technology, the need for clear and effective regulations has become more pressing than ever. The Crypto Summit will provide a platform for key players in the industry to engage in meaningful discussions and offer valuable input on how to best regulate this emerging market. This is a crucial step towards creating a stable and secure environment for investors and businesses alike.
One of the main topics on the agenda will be stablecoins, a type of cryptocurrency that is pegged to a stable asset, such as a fiat currency or a commodity. These coins have gained significant traction in recent years, with many seeing them as a potential solution to the volatility often associated with traditional cryptocurrencies. The Summit will explore the potential benefits and challenges of stablecoins, and how they can be effectively integrated into the current financial system.
Another important topic that will be addressed is the proposed Bitcoin reserve legislation. This legislation aims to establish a reserve requirement for all Bitcoin exchanges, similar to the requirements for traditional banks. This move could potentially bring more stability and legitimacy to the cryptocurrency market, and the Summit will provide a platform for experts to discuss its potential impact.
The White House Crypto Summit is a significant step towards recognizing the importance and potential of cryptocurrency in today’s economy. It is a testament to the growing influence of this industry and the need for collaboration between government and private sector to ensure its responsible and sustainable growth. Stay tuned for updates and insights from this historic event.
World competitor Billions Network launches non-biometric digital ID
The financial industry is constantly evolving and adapting to new technologies, and one company that is leading the way is Circom. Their innovative technology has caught the attention of major players in the industry, including Deutsche Bank and HSBC.
Circom’s cutting-edge technology, known as Circom, has been making waves in the financial world. This revolutionary technology has been tested and approved by some of the biggest names in the industry, such as Deutsche Bank and HSBC. With its advanced capabilities, Circom is changing the game for financial institutions.
So, what exactly is Circom? It is a state-of-the-art technology that utilizes blockchain and artificial intelligence to streamline and improve financial processes. This includes everything from transaction processing to data management. By implementing Circom, financial institutions can reduce costs, increase efficiency, and enhance security.
The success of Circom can be attributed to its team of experts who have a deep understanding of the financial industry and its needs. They have worked tirelessly to develop a technology that not only meets the demands of the industry but also exceeds expectations. This is evident in the positive feedback and results from companies like Deutsche Bank and HSBC.
But it’s not just the big players in the financial world that are benefiting from Circom. The technology is also being utilized by smaller institutions and startups, providing them with the same level of efficiency and security as the larger companies.
Circom’s impact on the financial industry is undeniable, and it’s only going to continue to grow. With its proven success and constant innovation, it’s no surprise that more and more companies are turning to Circom for their financial needs. So, if you want to stay ahead of the game and revolutionize your financial processes, it’s time to join the ranks of Deutsche Bank and HSBC and embrace Circom technology.
SEC again delays Ether ETF options on Cboe
The cryptocurrency world has been buzzing with anticipation as the Securities and Exchange Commission (SEC) recently announced their decision to postpone a final ruling on a major exchange’s proposal. This news has sent shockwaves through the industry, leaving many wondering what this could mean for the future of digital currencies.
The exchange in question, which remains unnamed, had submitted a proposal to the SEC for approval. This proposal would allow for the trading of a new type of digital asset, known as a cryptocurrency exchange-traded fund (ETF). This type of investment vehicle has been highly sought after by investors, as it would provide a more regulated and secure way to invest in cryptocurrencies.
However, the SEC has decided to delay their final ruling on the proposal until May 2025. This decision has caused a stir in the cryptocurrency community, with many speculating on the reasons behind the postponement. Some believe that the SEC is taking extra precautions to ensure the safety and stability of the market before approving such a groundbreaking proposal.
Others are more skeptical, suggesting that the SEC may be hesitant to fully embrace the world of cryptocurrencies and is using this delay as a way to further delay their decision. Whatever the reason may be, this news has left many investors and enthusiasts on edge, eagerly awaiting the final ruling in 2025.
In the meantime, the cryptocurrency market continues to thrive and evolve, with new developments and innovations emerging every day. This delay may be seen as a setback by some, but it also presents an opportunity for the industry to continue to grow and mature, potentially making the case for a cryptocurrency ETF even stronger in the future.
Only time will tell what the SEC’s final decision will be and how it will impact the world of cryptocurrencies. But one thing is for sure, this postponement has only added to the excitement and anticipation surrounding the future of digital currencies.
BlackRock adds BTC ETF to $150B model portfolio product
BlackRock, one of the world’s largest investment firms with a whopping $11.5 trillion in assets under management, has made a bold move by adding a Bitcoin exchange-traded fund (ETF) to its $150 billion model portfolio product. This decision has sent shockwaves through the financial world, as it marks a significant step towards mainstream adoption of the leading cryptocurrency.
The news of BlackRock’s Bitcoin ETF inclusion was announced on their official website, where they stated that they have added the Grayscale Bitcoin Trust (GBTC) to their model portfolios. This means that BlackRock’s clients, which include pension funds, insurance companies, and other institutional investors, will now have exposure to Bitcoin through their investments in the model portfolios.
This move by BlackRock is a clear indication of the growing acceptance and recognition of Bitcoin as a legitimate asset class. With the recent surge in Bitcoin’s price and its increasing adoption by major companies and institutions, it is no surprise that BlackRock has decided to jump on the bandwagon.
The addition of Bitcoin to BlackRock’s model portfolios is a significant milestone for the cryptocurrency industry. It not only brings more legitimacy to Bitcoin but also opens up the doors for more institutional investors to enter the market. This could potentially lead to a surge in demand and drive the price of Bitcoin even higher.
However, it is worth noting that BlackRock’s decision to include Bitcoin in its model portfolios does not necessarily mean that they are endorsing the cryptocurrency. It is simply a recognition of its potential as a valuable investment asset. Nevertheless, this move is a major vote of confidence for Bitcoin and could pave the way for other investment firms to follow suit.
In conclusion, BlackRock’s addition of a Bitcoin ETF to its model portfolios is a significant development for the cryptocurrency industry. It not only brings more credibility to Bitcoin but also opens up new opportunities for institutional investors to enter the market. As Bitcoin continues to gain mainstream acceptance, we can expect to see more major players like BlackRock embracing it as a legitimate investment option.
Bybit hacker launders $605M ETH, over 50% of stolen funds
The recent hack of Bybit, a popular cryptocurrency exchange, has caused quite a stir in the crypto community. The exchange reported that it had lost over $7 million worth of cryptocurrency in the attack, with the majority of the stolen funds being laundered through THORChain.
THORChain, a decentralized cross-chain liquidity protocol, has been at the center of controversy since the hack was first reported. It has been revealed that the attackers responsible for the Bybit hack have managed to launder over 54% of the stolen funds through the protocol, raising concerns about its security and reliability.
This incident has once again highlighted the vulnerability of the cryptocurrency industry to cyber attacks and the need for stronger security measures. With the increasing popularity and adoption of cryptocurrencies, it is crucial for exchanges and protocols to have robust security protocols in place to protect users’ funds.
The Bybit hack is just one of many recent attacks on cryptocurrency exchanges, with millions of dollars being stolen from various platforms in the past year alone. This has raised questions about the security of these exchanges and the responsibility they have in safeguarding their users’ assets.
In response to the hack, Bybit has assured its users that it is working closely with law enforcement and security experts to investigate the incident and recover the stolen funds. The exchange has also implemented additional security measures to prevent future attacks.
As for THORChain, the protocol has faced criticism for its lack of security measures and its role in facilitating the laundering of stolen funds. This incident serves as a wake-up call for the protocol to strengthen its security protocols and regain the trust of the crypto community.
In conclusion, the Bybit hack and the involvement of THORChain in laundering the stolen funds have once again highlighted the need for stronger security measures in the cryptocurrency industry. It is crucial for exchanges and protocols to prioritize the safety of their users’ funds and take necessary steps to prevent such attacks in the future.