Significant shifts are underway in the ecosystem of illicit actors using cryptocurrency. According to a 2023 report by TRM Labs, Bitcoin is no longer the asset of choice for criminals.

The report states, “The multi-chain era has had a sweeping impact on the distribution of illicit crypto volume as a whole, where Bitcoin’s share plummeted from 97% in 2016 to 19% in 2022. In 2016, two thirds of crypto hack volume was on Bitcoin; in 2022, it accounted for just under 3%, with Ethereum (68%) and Binance Smart Chain (19%) dominating the field. And while Bitcoin was the exclusive currency for terrorist financing in 2016, by 2022 it was all but replaced by assets on the TRON blockchain, with…

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Charles Schwab Corporation, a financial giant with assets totaling $8.5 trillion, has adopted a seemingly cautious approach towards digital assets, prompting analysts to speculate on potential missed opportunities in a rapidly evolving market.

The company’s decision not to launch its own proprietary spot Bitcoin Exchange-Traded Funds (ETFs) despite the recent Bitcoin ETF approval by the Securities and Exchange Commission (SEC), has raised eyebrows in the financial community.

Here’s What Analysts Suggest

Schwab, known for its methodical product development strategy, swiftly made all 11 spot bitcoin-based ETFs available on its platforms, Schwab.com and Thinkorswim, following the SEC’s…

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Although Artificial Intelligence (AI) is a very new technology, it is expanding at lightning speed. OpenAI’s ChatGPT for example, attracted a user base exceeding 100 million within just two months, establishing itself as one of the fastest-growing applications in history.

In recent discussions about the intersection of AI agents and digital currency, notable figures from the tech industry, including former Meta executive David Marcus and Palantir co-founder Joe Lonsdale, are foreseeing a groundbreaking synergy.

This potential alliance suggests that Bitcoin might become the go-to currency for AI agents, ushering in a new era of seamless and efficient financial transactions.

A 2023 report…

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In a noteworthy development, large cryptocurrency investors, commonly referred to as crypto whales, have accumulated an impressive $3 billion worth of bitcoin (BTC) in January, according to insights from on-chain analytics firm IntoTheBlock. The data underscores that wallets with holdings exceeding 1,000 BTC increased their positions by approximately 76,000 BTC, establishing a cumulative holding of nearly 7.8 million BTC.

Bitcoin initiated the month on a positive note, surging to highs exceeding $48,900 on January 11, coinciding with the debut of U.S.-based spot exchange-traded funds (ETFs). However, prices underwent a correction, dipping to around $38,500 last week, driven by profit-taking in the Grayscale Bitcoin Trust (GBTC). Seizing the market dip, crypto whales tactically increased their bitcoin holdings through the Bitfinex exchange.

IntoTheBlock’s weekly newsletter highlighted a substantial surge in whale activity, indicating confidence in the cryptocurrency’s long-term potential. Notably, despite recent market fluctuations, industry observers, including Standard Chartered, anticipate substantial investments in newly launched ETFs, potentially propelling bitcoin’s market price to $100,000 by the close of 2024.

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$1M – $10M MarketCap:

1. X World Games (XWG) – 63%
2. GT-Protocol (GTAI) – 32%
3. Work X (WORK) – 15%
4. Vapor Wallet (VPR) – 13%
5. REV3AL (REV3L) – 13%

$10M – $100M MarketCap:

1. ShapeShift FOX (FOX) – 34%
2. Contentos (COS) – 34%
3. Blockchain Brawlers (BRWL) – 26%
4. Router Protocol (ROUTE) – 17%
5. Unibot (UNIBOT) – 14%

$100M – $1B MarketCap:

1. Orca (ORCA) – 43%
2. Lisk (LSK) – 14%
3. Conflux (CFX) – 13%
4. LCX (LCX) – 13%
5. Victoria VR (VR) – 8.7%

Disclaimer: Market capitalizations can vary in real-time. The information provided here is intended purely for educational purposes and should not, under any circumstances, be construed as financial advice.

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The Hong Kong arm of Harvest Fund Management, a major Chinese asset manager, is taking a pioneering step in the Asian financial market by applying for a Bitcoin spot Exchange-Traded Fund (ETF) with the Hong Kong Securities and Futures Commission. This bold move comes in the wake of the successful introduction of similar ETFs in the United States, marking a significant turn in the global acceptance and integration of cryptocurrencies.

The Hong Kong Securities Regulatory Commission is accelerating the approval process, aiming to list the ETF on the Hong Kong Stock Exchange shortly after the Spring Festival. This initiative follows the U.S. model, where Bitcoin spot ETFs have gained substantial ground, led by industry heavyweights like Grayscale and BlackRock.

This venture by Harvest Hong Kong into Bitcoin ETFs is a crucial development, signaling the readiness of major Asian financial players to embrace the evolving landscape of digital currencies. It represents a significant stride towards mainstreaming Bitcoin investments in Asia and could inspire similar moves across the region, reinforcing Bitcoin’s position as a viable investment asset.

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BIGCAP COINS:

1. Bitcoin: Market Cap of $830 Billion.
2. Celestia: Market Cap of $2.7 Billion.
3. Solana: Market Cap of $42.0 Billion.

MIDCAP COINS:

1. Manta Network: Market Cap of $879 Million.
2. Saudi Bonk: Market Cap of $4.4 Million.
3. Altlayer: Market Cap of $466 Million.

RISING COINS:

1. Peapods: Market Cap of $105 Million.
2. Steamboat Willie: Market Cap of $2.34 Million.
3. Jungle Labz: Market Cap of $21.4 Million.

Disclaimer: Market capitalizations can vary in real-time. The information provided here is intended purely for educational purposes and should not, under any circumstances, be construed as financial advice.

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Cryptocurrencies are changing how we think about money, and the way countries tax them can make a big difference. While some places like Iceland have a high tax rate of 46% on crypto profits, others like Germany and Portugal offer a tax rate of 0%. This huge difference shows that some countries see cryptocurrencies as a chance to grow their economies.

Lower taxes on cryptocurrencies can attract businesses and investors. This can lead to more jobs and advancements in technology. For example, countries with no crypto taxes, like the UAE and El Salvador, might become popular places for tech-savvy entrepreneurs to set up shop. This could boost their local economies and even increase the overall tax revenue as these businesses spend and invest more.

With cryptocurrencies becoming more common, countries have to decide how to tax them. A friendly tax policy can lead to a booming economy with new opportunities. The evidence suggests that low taxes on cryptocurrencies can be a smart move for economic growth.

Disclaimer: Market capitalizations and data can vary in real-time. The information provided here is intended purely for educational purposes and should not, under any circumstances, be construed as financial advice.

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