Venture capitalist Chamath Palihapitiya, in April 2023, pronounced the death of Bitcoin BTC/USD, declaring that “Crypto is dead in America,” in an episode of the All-In Podcast.

What Happened: These remarks align with a long-standing trend of skeptics who have repeatedly sounded the death knell for the apex cryptocurrency.

According to 99 Bitcoins, a source that monitors crypto obituaries, there have been a staggering 474 instances where individuals have proclaimed “game over” for blockchain technology. 

Palihapitiya had blamed the demise of cryptocurrencies on regulatory bodies, particularly the Securities and Exchange Commission (SEC). “The United States authorities have firmly…

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Major crypto exchanges recorded a net outflow on Oct. 24 as Bitcoin price briefly touched the $35,000 mark for the first time in a year. The movement of funds away from exchanges is considered a bullish sign as traders move their assets away from the centralized platforms in anticipation of a price surge.

According to data shared by crypto analytic firm Coinglass, Binance saw the biggest outflow with over $500 million moving off the exchange over the past 24 hours followed by crypto.com with $49.4 million in outflow followed by OKX with $31 million in outflow. Most other exchanges recorded below $20 million outflow.

Outflow from crypto platforms in recent times has led to “bank run”…

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Bitcoin’s (BTC) market moves this week pushed the asset into fresh local highs as the world’s largest digital asset further cemented its lead against other major blue-chip cryptos.

The asset rose above $30,000 early Monday morning before driving higher, blowing past several resistance levels not seen since the collapse of Terra in May of last year.

Bitcoin is now trading around $34,100, down slightly, after climbing more than 14% and reaching a peak of just over $35,100 in early Tuesday trading. The activity has sent the asset’s dominance, or total share of the market, to a two-and-a-half-year high, of around 54%.

Aditya Jalan, trading manager for APAC at FalconX told Blockworks…

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After a months-long back-and-forth, Coinbase is taking one final shot at dismissing a lawsuit from the US Securities and Exchange Commission. 

The US crypto exchange will issue its final plea on Tuesday to a federal judge to dismiss the lawsuit, which was filed in June. 

According to a person familiar with the matter, Coinbase’s reply brief will focus on the exchange’s case — that the SEC is violating the major questions doctrine, which prevents agencies from engaging in issues Congress has not yet ruled on. 

Judge Katherine Polk Failla could rule immediately and dismiss the case on Tuesday. A more likely outcome: opt to bring both parties in to present oral arguments. From…

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Bitcoin BTC/USD traded higher, with the cryptocurrency prices trading above the $34,000 level on Tuesday.

Ethereum ETH/USD also moved higher, trading above the key $1,800 mark this morning.

The S&P Global Manufacturing PMI for the US increased to 50 in October from 49.8 in the prior month and topping market expectations of 49.5. The S&P Global services PMI rose to 50.9 in October versus 50.1 a month ago.

Mina MINA/USD was the top gainer over the prior 24 hours, while PAX Gold PAXG/USD turned out to be the biggest loser.

At the time of writing, the global crypto market cap rose to $1.27 trillion, recording a 24-hour gain of 9.8%. BTC was trading higher by 12.3% at $34,376 while ETH rose by…

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The United States government may be losing regulatory oversight of the stablecoin market, according to a new report by the blockchain research firm Chainalysis.

Stablecoin activity has been increasingly occurring through entities that aren’t licensed in the United States, Chainalysis stated in its latest North America cryptocurrency report released on Oct. 23.

According to Chainalysis’ findings, the majority of stablecoin inflows to the 50 biggest cryptocurrency services have shifted from U.S. licensed services to non-U.S. licensed services since spring of 2023.

As of June 2023, about 55% of stablecoin inflows to top 50 services were going to non-U.S. licensed exchanges, the report…

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Crypto mining stocks including Marathon Digital Holdings Inc MARA and Riot Platforms Inc RIOT are trading higher Tuesday as the price of Bitcoin BTC/USD continues to move higher on spot ETF optimism. 

What To Know: Bitcoin is up more than 12% over the last 24 hours and approximately 21.5% over the last week on continued momentum surrounding a potential spot ETF, which is expected to increase demand and liquidity in the crypto space.

BlackRock and several other large financial firms recently made changes to their submissions for spot Bitcoin ETFs. BlackRock’s iShares Bitcoin Trust is now featured on the Depository Trust and Clearing Corporation (DTCC) website and…

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