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The Bitcoin (BTC) price surge on Monday has now catapulted Bitcoin-related stocks to surge to new highs with the likes of Coinbase and Microstrategy posting new multi-week highs.
Bitcoin mining stocks saw significant gains amid the BTC price momentum with the likes of United States-listed Riot Blockchain recording an 11.69% surge followed by Marathon Digital Holdings at a 14.6% increase. Another factor that played a key role in the mining stocks surge is the upcoming halving event that will cut the Bitcoin mining reward from 6.25 BTC to 3.125 BTC per block.
Marathon Digital stock price chart. Source: TradingView
Bitcoin mining stocks not only outperformed Bitcoin in terms of daily price…
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Mexican billionaire Ricardo Salinas, chairman of Grupo Salinas, highlighted the benefits of bitcoin as a safeguard against the “inflation tax” in a recent interview with Bitcoin Magazine. Salinas emphasized that bitcoin, which is immune to debasement, can be instrumental in shielding people’s savings from inflation, especially in hyperinflationary economies prevalent in Latin America. On the topic of a bitcoin ETF, he remarked that while it’s a beneficial advancement, authorities might resist it to maintain their fiscal control. Salinas also criticized government monetary policies, equating them to fraud that robs citizens.
Crypto-related stocks including Coinbase Global Inc COIN and MicroStrategy Inc MSTR are trading higher Tuesday as Bitcoin BTC/USD continues to rise on spot ETF optimism.
What To Know: Bitcoin is up nearly 13% over the last 24 hours and more than 22% over the last week, as the world’s largest cryptocurrency rides momentum surrounding a potential spot ETF. A spot ETF is expected to fuel demand and increase liquidity and is seen as bullish for the broader crypto space.
BlackRock and multiple other major U.S. financial firms recently made changes to their pending applications for spot Bitcoin ETFs. BlackRock’s iShares Bitcoin Trust is now featured on the Depository Trust and…
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Is El Salvador’s Orange Enlightenment Only One Leader Deep?
The world is witnessing a miracle unfold in the beautiful country of El Salvador. In just the first four years of president Nayib Bukele’s presidency, the smallest Central American country and recurring murder capital of the world, plagued by civil war, endemic corruption, and generational poverty, not only reformed its justice system and neutered its terrorizing gangs resulting in unprecedented public safety, a surge in tourism, and foreign investment, but began casting off its neocolonial yoke, paying its latest bond debt on schedule and declining further IMF assistance. Equally impactful for its future: President Bukele…
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The prosecution needs to establish that Sam Bankman-Fried spent time in Manhattan, the jurisdiction where he is currently on trial for seven federal counts of fraud and conspiracy, and they did so strategically.
The government presented a series of emails and FBI cell phone tracking data in an effort to depict Bankman-Fried as a hobnobbing, indulgent fraudster frequently seen galavanting around New York City in 2021 and 2022.
From dinners at exclusive hotels with high-rollers to office visits with investors and magazine photoshoots, prosecutors provided more than enough evidence to show the jury that Bankman-Fried was in town, and, as it would appear, out on the town.
In perhaps the…
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Bitcoin (BTC) marched to 17-month highs on Oct. 24 as exchange-traded fund (ETF) excitement boosted already bullish BTC price action.
BTC/USD 1-day chart. Source: TradingViewBitcoin ETF data listing hints at “time to shine”
Data from Cointelegraph Markets Pro and TradingView showed BTC/USD hitting $35,198 on Bitstamp before consolidating.
This represented 17% gains since the prior weekly close and Bitcoin’s highest levels since May 2022.
While back below $34,000 at the time of writing, the mood around the largest cryptocurrency was distinctly optimistic as debate swirled over the potential launch of a Bitcoin spot price ETF in the United States.
Long in the making, appetite for a launch —…
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Sam Bankman-Fried’s lawyers are planning to put forward an expert witness to counter testimony from former Alameda Research CEO Caroline Ellison and other witnesses about the extent of financial ties between FTX and the trading firm.
In an Oct. 23 letter to New York District Judge Lewis Kaplan, Bankman-Fried’s attorneys said Joseph Pimbley from litigation consulting firm PF2 Securities would testify on behalf of the former FTX CEO.
The letter lays out that Pimbley will testify — based on FTX database information — that Alameda’s line of credit with FTX “fluctuated between approximately $1 billion and $3 billion” between October 2021 and September 2022 and decreased in June…
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Crypto exchange Coinbase has refuted rumors it had imposed a $5,000 per week limit on Bitcoin (BTC) withdrawals after a user’s post claiming as such gained traction on social media.
An Oct. 24 post from a user on X (formerly Twitter) claimed that he’d been hit with a purported policy that restricted his withdrawals of Bitcoin from Coinbase to a maximum threshold of $5,000 a week.
The post gained over 250,000 views, with more than 420 retweets and nearly 2,000 likes. The post also gained attention of crypto researcher Chris Blec, who asked if anyone could verify the claim being made.
. @Coinbase is limiting bitcoin withdrawls. I just tried to send BTC from Coinbase to my cold wallet,…
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