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Lightning Network In A Class Of Its Own At Bitcoin 2024 Conference

Post author By BitcoinMagazine
Post date 2Y

I was asked repeatedly throughout this year’s Bitcoin 2024 conference what my highlight of the moment was — what the signal was amongst the noise. As I returned from Nashville, it occurred to me that, each time, I could never answer the question satisfyingly.

In part, because I simply couldn’t keep up. The activity around the news desk and my support for those running the show left me with little time to focus on anything else. I can’t say I regret it. Anyone who gravitated around our livestream studio space during the week can attest to the energy surrounding it. The Bitcoin Magazine news desk was the veritable heartbeat of the conference.

Now that I’ve had time to collect my…

Digital Asset Market Braces For Political Shifts As Trump Promises Changes, Retribution Against SEC Chair

Post author By Benzinga
Post date 2Y

Former President Donald Trump‘s recent statements about Bitcoin and cryptocurrency have sent ripples through the digital asset community.

During a keynote address at the Bitcoin 2024 conference in Nashville, Trump made bold promises about the future of Bitcoin if he were to return to the White House, including firing SEC Chair Gary Gensler on his first day back in office.

At the Bitcoin 2024 conference, Trump delivered a speech that resonated with the audience. He asserted that Bitcoin and other cryptocurrencies would experience unprecedented growth under his leadership.

“Bitcoin and crypto will skyrocket like never before, even beyond your expectations, and you are the…

Tether reports net profit of $5.2B in H1 2024

Post author By Blockworks
Post date 2Y

Tether has just released its attestation report for Q2 2024, declaring a $5.2 billion profit for the first half of 2024.

In Q2 of 2024, Tether generated a net operating profit of $1.3 billion, compared to Q1’s earnings of $4.52 billion, per the report.

Tether’s net equity worth also increased by $520 million to $11.9 billion as of June 30, 2024, up from its reported valuation of $7.01 billion on Dec. 31, 2024.

Read more: Tether just obliterated its former net profit record for a single quarter

Tether’s revenues come from investing fiat currencies it receives from issuing its USDT stablecoin into various financial assets, such as T-bills and precious metals. According to the…

Compound considers fee redistribution after $24M COMP truce

Post author By Blockworks
Post date 2Y

Compound Protocol is considering a major shift in its revenue distribution following a recent governance fiasco.

The protocol plans to introduce a fee switch that will allocate 30% of protocol reserves to staked COMP token holders through a new product called stCOMP.

The proposal, led by Compound head of growth Bryan Colligan, aims to enhance the financial utility and attractiveness of COMP tokens by providing yield-bearing opportunities.

Like all DeFi lending protocols, Compound’s revenues are generated from fees charged to loan borrowers. A portion of these fee revenues are typically paid to liquidity providers to incentivize protocol liquidity. However, COMP token holders…

Daily US Bitcoin ETFs Net Flow Analysis (As of July 31, 2024)

Post author By cryptocrunchapp
Post date 2Y

On July 31, 2024, the U.S. Bitcoin ETFs displayed varying degrees of net inflows and outflows, reflecting dynamic investor behavior. Leading the gains, BlackRock’s IBIT ETF saw a substantial net inflow of 1,138 BTC, indicating strong investor confidence and increasing its holdings to 342,659 BTC.

Conversely, Grayscale’s GBTC experienced a significant net outflow of 27,753 BTC, reducing its holdings to 242,413 BTC, suggesting a shift in investor sentiment or strategic rebalancing. Other ETFs like Fidelity’s FBTC and Bitwise’s BITB also saw modest net outflows of 44 BTC and 49 BTC respectively.

Notably, the Grayscale Bitcoin Mini Trust’s BTC fund recorded an impressive net inflow equal to its total holdings, adding 26,936 BTC, signaling renewed interest or potential strategic investments.

Invesco Galaxy’s BTCO ETF had a slight positive net flow of 5 BTC, whereas VanEck’s HODL and Valkyrie’s BRRR maintained stable positions with no net inflow or outflow.

Overall, the total net flow among all tracked U.S. Bitcoin ETFs was positive, amounting to an increase of 113 BTC, translating to an approximate value growth of $7.5 million based on current Bitcoin market prices. This day’s activity underscores the fluctuations and trends in the ETF sector, often influenced by broader market sentiments and individual fund performance.

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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Post Nashville Event Recap – A Bitcoin VC Perspective The Good, The Bad, and the Bullish

Post author By BitcoinMagazine
Post date 2Y

Macro – Crossing the Rubicon

1. Donald J. Trump and the point of no return. 3 words, “Strategic Bitcoin Stockpile”. It was theorized by many Bitcoiners for years, some would even say dreamed of, and it happened just last week. Fair to say that Bitcoin has indeed crossed some sort of Rubicon on Saturday, a point of no return where everything can suddenly accelerate. The culprit? – goes by the name of game theory. Nations around the world, from this day forward, have to take this idea of a Bitcoin reserve seriously or face the consequences of being left behind. If enacted, the US will own around 1% of the total bitcoin supply.

From the perspective of other countries, this strategy would…

LATEST: Grayscale Bitcoin Mini Trust starts trading Wednesday after SEC approval

Post author By cryptocrunchnews
Post date 2Y

Grayscale Investments, a leading name in cryptocurrency asset management, has unveiled the Grayscale Bitcoin Mini Trust (BTC), now trading on NYSE Arca. This new spot Bitcoin ETP, noted for having the lowest fees, marks a significant advancement in accessible crypto investment vehicles. BTC, which has not registered under the Investment Company Act of 1940, kicks off with a NAV per share of $5.84 and manages a robust $1.7 billion in assets.

During its launch, BTC was funded by distributing 10% of GBTC’s underlying Bitcoin, allowing it to begin trading with a diversified investor base immediately. This strategic move, referred to as a “spin-off,” ensures that the event remains non-taxable for both GBTC and its shareholders. David LaValle, Grayscale’s Senior Managing Director, highlighted the firm’s ongoing commitment to innovating within SEC-regulated frameworks to make Bitcoin more accessible.

Grayscale’s legacy of leadership in crypto investments is well recognized, with over a decade of managing GBTC and introducing the first U.S. Bitcoin ETP. John Hoffman, Managing Director at Grayscale, emphasized that the new Bitcoin Mini Trust is designed to meet the diverse needs of investors, offering an effective and low-cost option for those looking to increase their Bitcoin exposure.

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The World’s Largest Bitcoin Conference Heads to Las Vegas in 2025

Post author By BitcoinMagazine
Post date 2Y

BTC Inc., the leading provider of Bitcoin-related news and events, is excited to announce that after this year’s successful Bitcoin 2024 event, which brought over 22 thousand attendees to Nashville, The Bitcoin Conference, the world’s largest and most prestigious gathering of the Bitcoin industry, will take place in Las Vegas from May 27-29, 2025. The decision to move the conference to Las Vegas underscores the organizers’ efforts to celebrate Bitcoin in one of the fastest-growing, forward-thinking, and Bitcoin-friendly cities in the world.

“We’re excited to welcome The Bitcoin Conference to Nevada in 2025,” said Joe Lombardo, Governor of Nevada. “The decision to move this…

Cryptocurrency Injective Falls More Than 3% In 24 hours

Post author By Benzinga
Post date 2Y

Injective’s INJ/USD price has decreased 3.16% over the past 24 hours to $23.09, continuing its downward trend over the past week of -9.0%, moving from $25.34 to its current price.

The chart below compares the price movement and volatility for Injective over the past 24 hours (left) to its price movement over the past week (right). The gray bands are Bollinger Bands, measuring the volatility for both the daily and weekly price movements. The wider the bands are, or the larger the gray area is at any given moment, the larger the volatility.

The trading volume for the coin has decreased 4.0% over the past week, while the overall circulating supply of the coin has decreased 0.11% to over…

What to expect when Coinbase reports Q2 results

Post author By Blockworks
Post date 2Y

Analysts expect Coinbase to report lower revenues during its second quarter earnings call Thursday amid a trading volume slowdown. But the exchange could offset that decrease via other business lines, and remains undervalued, some analysts say.

Oppenheimer analysts Owen Lau and Guru Sidaarth expect Q2 revenue to drop to $1.36 billion, a possible decrease from $1.6 billion worth of revenue during the year’s first three months.

Adjusted EBITDA (earnings before interest, taxes, depreciation and amortization) could go down to $555 million, they added in the July 21 research note — a sizable fall from the $1 billion last quarter.

Read more: Coinbase cross-selling on display during…