Taiwan’s Ministry of Justice has disclosed that the government holds more than 210 bitcoin seized through criminal investigations, placing the island among the world’s top government holders of the asset by volume.

The disclosure, confirmed by legislator Ko Ju-chun, shows that judicial authorities held 210.45 BTC as of Oct. 31. At current market prices, their BTC is worth about $18 million. According to data from Bitcoin Treasuries, this would put Taiwan as the 10th-largest government holder of BTC globally.

Ko said the information was released in response to a legislative inquiry and shared an image documenting the total amount held under state custody. The ministry said…

Read more on BitcoinMagazine

Bitcoin briefly surged above $89,000 on Thursday as a sharply cooler-than-expected U.S. inflation report came in.

At the time of writing, the bitcoin price was trading near $88,374, down roughly 2% over the past 24 hours, according to market data. The pullback leaves BTC about 2% below its recent seven-day high of $90,165 and roughly 4% above its week’s low near $85,374. Bitcoin’s market capitalization stands at approximately $1.77 trillion, with 19.96 million BTC currently in circulation.

The initial rally was sparked by fresh Consumer Price Index (CPI) data from the U.S. Bureau of Labor Statistics, which showed inflation cooling faster than economists expected. Headline…

Read more on BitcoinMagazine

Ledn, one of the world’s largest bitcoin lenders, announced its Open Book Report, a reserves transparency benchmark designed to expose the kind of risk that caused the 2022 FTX-driven crypto crash. 

According to a press release shared with Bitcoin Magazine, “Traditional lenders (including Citi, JPMorgan, Wells Fargo, BNY Mellon, Schwab, and Bank of America) are reportedly entering the space amid a regulatory vacuum in terms of rehypothecation practices and proof of reserves.” With the passing of the GENIUS Act, which greenlit treasury-backed stablecoins, Wall Street now has a road to service the crypto market and even upgrade its own rails and infrastructure. 

But there are…

Read more on BitcoinMagazine

BitGo, a digital asset infrastructure company, announced it now offers Bitcoin Lightning Network access directly from its qualified custody platform. The move makes it one of the first companies to provide Lightning payments for institutional custody.

The service aims to give clients faster and cheaper Bitcoin transactions while keeping institutional security standards intact. It builds on BitGo’s earlier self-custody Lightning solution.

The new offering is powered through a partnership with Voltage, a Lightning Network infrastructure provider. Clients can now use Lightning without running their own nodes or managing keys. BitGo and Voltage handle infrastructure, channels,…

Read more on BitcoinMagazine

The bitcoin price (BTC) briefly surged above $90,000 early Wednesday in U.S. trading, only to tumble back below $87,000 within minutes, reflecting a fragile and volatile crypto market.

The largest cryptocurrency rallied from roughly $87,000 to above $90,000 around 10:00 a.m EST before rapidly retracing to the $86,500–$87,500 range. 

At the time of writing, Bitcoin price was near $86,000, down over 0.5% over the past 24 hours despite having been higher by more than 3% minutes earlier. 

The swift swings triggered more than $190 million in liquidations across crypto derivatives markets, hitting both long positions — bets on rising prices — worth $72 million, and short…

Read more on BitcoinMagazine