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Bitcoin.com News

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01
Mastercard’s Start Path Blockchain and Digital Asset program has expanded to include five new startups, aiming to explore innovative uses of blockchain technology. “Digital assets are becoming increasingly mainstream, speeding up commerce with trust and transparency,” Mastercard stated. Mastercard’s Digital Asset Program Expands Payments giant Mastercard announced Wednesday that five startups from around the world […] https://news.bitcoin.com/mastercard-welcomes-5-startups-to-blockchain-and-digital-asset-program/
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02
Better Markets, a financial nonprofit organization, has lashed out against approving a spot ether ETF product, stating that it would endanger the broader financial system. In a supplemental comment letter sent to the SEC, the organization states that approving these spot ether ETPs would “interweave the crypto industry with traditional finance,” aggravating systemic risks introduced […] https://news.bitcoin.com/financial-nonprofit-better-markets-approving-a-spot-ether-etf-would-threaten-the-broader-financial-system/
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03
In the first quarter of 2024, Canaan Inc. generated $35.1 in revenues versus the $72.4 million in costs incurred in the same period which resulted in the company recording a gross loss of $37.3 million. Nangeng Zhang claimed that Canaan’s revenues in the last quarter exceeded expectations due to the company’s persistent sales efforts and […] https://news.bitcoin.com/mining-rig-producer-canaans-q1-unrealized-gains-narrow-net-loss-to-39-4-million/
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04
Binance’s Financial Crimes Compliance Department recently collaborated with Taiwan’s Ministry of Justice Investigation Bureau and the Taipei District Prosecutors Office on a significant cryptocurrency-assisted money laundering case involving nearly NT$200 million (approximately US$6 million). The criminal operation had been laundering money through virtual assets by creating fake customer records and forged identity data. Law enforcement […] https://news.bitcoin.com/binance-aids-taiwan-in-busting-6m-crypto-money-laundering-ring/
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05
Dolce & Gabbana USA Inc. faces a lawsuit from a customer who claims the non-fungible tokens (NFTs) he bought for $6,000, which included metaverse outfits, lost 97% of their value due to delivery failures by the luxury fashion house. The complaint, filed in Manhattan federal court, alleges the NFTs were promoted with various digital, physical, […] https://news.bitcoin.com/dolce-gabbana-sued-over-6000-nfts-losing-97-value/
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06
Michael Burry, an investor famous for making a fortune by anticipating the 2007 subprime mortgage crisis, made a sizable bet on physical gold. According to regulatory filings, Burry’s Scion Asset Management purchased over 440,000 Sprott Physical Gold Trust units, a closed-end fund that invests and holds its assets in physical gold bullion. Big Short’s Investor […] https://news.bitcoin.com/big-short-investor-michael-burry-goes-hard-on-gold-invests-10-million-in-q1/
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07
The Ontario Securities Commission (OSC) announced on May 15 that two Ontario residents have been charged with offenses under the Criminal Code of Canada as part of Project Swan, a joint investigation by the Durham Regional Police Service (DRPS) and the OSC. Aiden Pleterski, self-proclaimed “Crypto King,” is charged with fraud over $5,000 and laundering […] https://news.bitcoin.com/ontario-crypto-king-faces-major-fraud-and-money-laundering-charges/
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08
The Nigerian fintech firm Flutterwave claimed on May 16 that it had foiled an attempt to breach its payments platform. Flutterwave asserted that the “unauthorized activities inconsistent with usual customer behavior” did not compromise users’ funds or data confidentiality. According to one report, over $7 million was siphoned from Flutterwave following a cyberattack in April. […] https://news.bitcoin.com/nigerian-fintech-firm-flutterwave-confirms-hacking-attempt-says-users-funds-safe/
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09
The French securities regulator, the Autorité des Marchés Financiers (AMF), has issued a renewed warning against using the digital asset platform Bybit. The AMF reminded French investors that Bybit is an unregistered crypto platform operating illegally in the country. The regulator has advised French investors who use Bybit to take all the necessary precautions to […] https://news.bitcoin.com/french-regulator-renews-warning-against-blacklisted-bybit/
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10
Following the policymaker’s survey, U.S. Representative Thomas Massie (R-Ky.) announced the introduction of H.R. 8421, known as the “Federal Reserve Board Abolition Act.” This legislation aims to dismantle the Board of Governors of the Federal Reserve and close its branches across the continental United States. Federal Reserve Board Abolition Act Resurfaces Two days ago, Massie, […] https://news.bitcoin.com/us-lawmaker-introduces-bill-to-dismantle-feds-board-of-governors-and-abolish-the-central-bank/
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11
PRESS RELEASE. Penguiana (PENGU), a novel penguin-themed meme coin, is making significant waves within the cryptocurrency and Solana meme community. With its presale already raising over 1500 SOL, Penguiana is positioning itself as the next popular meme coin on the Solana blockchain. Penguiana (PENGU) Presale is Up and Running The Penguiana presale showcases the strength […] https://news.bitcoin.com/penguiana-reports-new-milestones-as-pengu-presale-hits-soft-cap-teases-play-to-earn-game-trailer-next-month/
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12
A report released on May 16 highlights how increased electricity consumption due to crypto mining and inconsistent rainfall have led to power shortages in Laos, challenging its goals as a hydropower exporter in Southeast Asia. Reuters: Increased Crypto Mining Strains Laos’ Hydropower Grid Laos, often called the “battery of Southeast Asia” for its extensive hydropower […] https://news.bitcoin.com/crypto-mining-surge-and-erratic-weather-strain-laos-power-grid/
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13
Over the past 18 days, 27 distinct liquid staking derivatives (LSD) protocols have experienced withdrawals amounting to approximately 50,000 ether, valued at $146.72 million. The most significant reductions occurred in the LSDs Swell and Mantle, with Swell’s ether holdings decreasing by 23,078 ether since April 28, 2024. LSD Protocol Reductions Continue Despite Minor Gains for […] https://news.bitcoin.com/liquid-staking-market-in-flux-withdrawals-hit-swell-and-mantle-reshuffling-landscape/
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14
PRESS RELEASE. Geneva, Switzerland, May 17, 2024 – Recent detailed analyses by Token Terminal and Messari have provided an in-depth review of the TRON network’s activity during the first quarter of 2024, emphasizing its competitive positioning and expansive growth within the blockchain sector. Token Terminal Analysis Token Terminal’s comprehensive report offers crucial insights into key […] https://news.bitcoin.com/token-terminal-and-messari-release-research-reports-on-tron-network-for-q1-of-2024/
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15
The price of bitcoin surpassed the $67,000 mark on Friday, reaching a peak of $67,482 per unit, the highest value since late April. This increase has resulted in the liquidation of nearly $45 million in leveraged bitcoin short positions over the past day. $120M in Crypto Positions Liquidated as Bitcoin Climbs Above $67K Bitcoin short […] https://news.bitcoin.com/bitcoin-hits-67k-leading-to-45m-in-short-position-liquidations/
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16
Since the Hong Kong spot bitcoin exchange-traded funds (ETFs) began trading, their performance has been underwhelming, with three ETFs accumulating around $228 million in net assets. Inconsistent Inflows and Outflows Mark Hong Kong Bitcoin ETFs’ First Weeks On Thursday, the spot bitcoin ETFs in Hong Kong experienced net negative outflows of approximately 104.79 BTC, valued […] https://news.bitcoin.com/lackluster-performance-for-hong-kong-bitcoin-etfs-since-launch/
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17
The Hong Kong Monetary Authority (HKMA) and the People’s Bank of China (PBOC) have advanced the digital yuan (e-CNY) pilot for payments, aiming to increase e-CNY wallet usage in Hong Kong. Residents can now set up and top up wallets via the Faster Payment System (FPS), marking the first global linkage of a faster payment […] https://news.bitcoin.com/china-expands-digital-yuan-pilot-hong-kong-residents-can-now-set-up-e-cny-wallets-locally/
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18
Imagine a cryptocurrency that combines the internet’s obsession with dog memes and the exciting world of artificial intelligence (AI). That’s exactly what the team behind WienerAI (WAI) has devised – an approach that has helped them raise over $2 million in the project’s ongoing presale phase. WienerAI – The AI-Powered Meme Coin Revolutionizing Crypto Trading […] https://news.bitcoin.com/new-crypto-presale-to-watch-wienerai-meme-coin-hits-2m-milestone/
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19
On Thursday, U.S. spot bitcoin exchange-traded funds (ETFs) marked their fourth day of inflows, accumulating $257.3 million. Grayscale’s Bitcoin Trust (GBTC) also experienced its fourth day of inflows, gaining $4.6 million during the trading sessions. Spread Between IBIT and GBTC Bitcoin Reserves Grows Thinner U.S. spot bitcoin ETFs continued their streak this week with four […] https://news.bitcoin.com/us-bitcoin-etfs-see-4-days-of-inflows-blackrocks-ibit-nears-gbtcs-reserve-levels/
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20
According to current market prices, the synthetix usd (SUSD) stablecoin has fallen from its intended $1 parity. Charts show the token dipped to a low of $0.915 and is now trading at $0.958 per unit as of 8 a.m. EDT on Friday. SUSD Stablecoin Plunges to $0.915 Another stablecoin faces challenges in maintaining its 1:1 […] https://news.bitcoin.com/synthetix-stablecoin-susd-drops-below-1-parity-struggles-to-rebound/
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21
Pump.fun, a leading Solana-based marketplace and deployment tool for meme coins, issued a postmortem on the exploit that occurred on May 16. The team stated that a former employee took advantage of its position to misappropriate 12.3K SOL, worth $1.9 million. An X user nicknamed Staccoverflow, confirmed to be part of pump.fun’s team, declared he […] https://news.bitcoin.com/solana-meme-coin-marketplace-pump-fun-issues-1-9-million-exploit-postmortem-discloses-former-employee-involvement/
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22
Despite bitcoin holding steady above the $66,000 mark on Friday, the leading cryptocurrency is still down 9% from its all-time high (ATH). In comparison, most other cryptocurrencies are much further from their ATHs, with many alternative crypto assets still having a significant journey ahead to reach their former peaks. Bitcoin: 9% Below ATH as Altcoins […] https://news.bitcoin.com/down-from-the-peaks-bitcoin-holds-strong-closer-to-ath-than-crypto-rivals/
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23
As of May 17, 2024, bitcoin’s price stands at $66,303 with a market capitalization of $1.30 trillion and a 24-hour trading volume of $28.43 billion. Technical indicators from multiple time frames suggest a potential continuation of the bullish trend, albeit amidst notable market volatility. The convergence of moving averages and oscillators signals a strong upward […] https://news.bitcoin.com/bitcoin-technical-analysis-btc-bulls-eye-68k-after-surpassing-key-66k-resistance/
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24
The Hashgraph Association, a Swiss non-profit organization, has partnered with the Qatar Financial Centre (QFC) to launch a $50 million digital assets venture studio. The venture studio aims to support companies in developing regulatory-compliant decentralized finance (defi) solutions. Supporting Web3 Startups With Bankable Defi Solutions The Hashgraph Association, a non-profit organization based in Switzerland, has […] https://news.bitcoin.com/the-hashgraph-association-partners-with-qatar-financial-centre-to-launch-digital-assets-venture-studio/
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25
Base, the Ethereum Layer 2 solution incubated by Coinbase, has announced the Onchain Summer Buildathon. The event, which runs from May 31st to June 30th, invites builders worldwide to showcase their skills in various onchain use cases, including payments, commerce, gaming, and social. The Buildathon offers 200 ETH in total prizes across eight sponsored tracks, […] https://news.bitcoin.com/base-to-launch-online-hackathon-with-200-eth-in-prizes-sponsored-by-stripe-shopify-and-more/
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26
Bitcoin’s supply on exchanges has significantly decreased, reaching new lows amid a bullish market trend, which analysts interpret as a shift towards long-term holding rather than short-term trading. A report by Bybit claimed that the diminishing supply could deplete within the next nine months, driven by factors such as the recent Bitcoin halving event and […] https://news.bitcoin.com/decreasing-bitcoin-supply-on-exchanges-indicating-possible-bullish-shift/
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27
Renowned venture capitalist Tim Draper announced a significant collaboration between Draper University and Stellar. The partnership aims to accelerate and fund up to 80 startups over the next two years, with these startups set to build on the Stellar blockchain platform. The initiative includes the Stellar Astro Hacker House and the Stellar Embark Accelerator, programs […] https://news.bitcoin.com/tim-draper-champions-blockchain-startups-announces-major-partnership-with-stellar/
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28
The concept of restaking introduces a groundbreaking way for people to utilize their staked cryptocurrency across various protocols simultaneously. This not only boosts reward potential but also significantly enhances the security and scalability of blockchain networks, benefiting the entire crypto ecosystem. Introduction to restaking A common occurrence In the rapidly evolving world of blockchain technology […] https://news.bitcoin.com/what-is-restaking/
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29
TBD, a subsidiary of Block, owned by Jack Dorsey, has formed a partnership with Chipper Cash, an Africa-focused fintech company. This partnership aims to expedite consumer remittances and make them more affordable. According to a statement, Chipper Cash plans to use the decentralized exchange protocol of TBD. This will enable trusted transactions that comply with […] https://news.bitcoin.com/block-subsidiary-tbd-partners-with-chipper-cash-for-quicker-more-affordable-remittances/
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30
Draper Associates, the VC firm led by the legendary investor Tim Draper, has led the $3.5 million seed round of Zest Protocol, a Stacks-based Bitcoin lending market. The round, which also had the participation of Binance Labs, Flow Traders, Trust Machines, and others, seeks to allow bitcoin holders to put their capital to use using […] https://news.bitcoin.com/legendary-investor-tim-draper-leads-bitcoin-lending-protocol-zests-3-5-million-seed-round/
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31
Juno Finance acknowledges the disruption in banking services and is collaborating with its brokerage and banking service providers, Synapse and Evolve Bank & Trust, to restore full service as soon as possible. Juno is a financial platform that integrates checking and savings accounts with cryptocurrency trading. “Currently, Evolve Bank & Trust has frozen all card […] https://news.bitcoin.com/juno-addresses-banking-service-disruption-this-is-outside-our-control/
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32
Two U.S. senators have criticized the Department of Justice (DOJ)’s new interpretation of “money transmission,” which extends requirements to non-custodial software, citing concerns over its impact on crypto networks and financial innovation. “I’m concerned the DOJ’s interpretation would treat software developers as criminals for merely writing and publishing code used by others,” one of the […] https://news.bitcoin.com/dojs-unlawful-interpretation-threatens-bitcoin-and-crypto-innovation-lawmakers-warn/
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33
The U.S. Department of Justice (DOJ) has indicted two brothers for wire fraud and money laundering. They allegedly exploited the Ethereum blockchain to steal $25 million in cryptocurrency within 12 seconds. Using sophisticated techniques, they manipulated transactions and concealed their identities. If convicted, each faces up to 20 years in prison for each count. DOJ […] https://news.bitcoin.com/25m-sophisticated-ethereum-blockchain-exploit-leads-to-arrests-in-us/
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34
Andrew Tate, a British-American social media personality and former professional kickboxer, has announced a plan to invest significantly in bitcoin, expressing frustration with banks and their scams. “I’m about to leave fiat completely,” he stressed. “I’m done with the banks. I’m done with their money. Done with the scams.” Andrew Tate Plans to Shift ‘100M’ […] https://news.bitcoin.com/andrew-tate-plans-to-invest-big-in-bitcoin-leaving-fiat-completely/
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35
Pump.fun, a Solana-based marketplace and deployment tool for meme coins, has acknowledged suffering an exploit dealing with the bonding curve contracts in its platform. While the protocol is still investigating the matter, it reported that “the TVL in the protocol right now is safe,” as it has upgraded the contracts to deal with the attack […] https://news.bitcoin.com/solana-meme-coin-marketplace-pump-fun-suffers-80-million-exploit/
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36
The U.S. Senate has voted to overturn the Securities and Exchange Commission (SEC)’s controversial SAB 121, which imposes regulatory burdens on digital asset custodians. The resolution also passed in the House and now faces a veto threat from President Joe Biden. Last week, the White House issued a statement: “If the President were presented with […] https://news.bitcoin.com/us-senate-votes-to-overturn-secs-controversial-crypto-rules-bidens-veto-threat-looms/
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37
Over the past week, the meme coin known as maga (TRUMP) has increased by more than 45% against the U.S. dollar, and over the past day, the TRUMP token has climbed more than 7%. Statistics reveal that this rise in value has boosted former U.S. President Donald Trump’s cryptocurrency holdings, with his stash of TRUMP […] https://news.bitcoin.com/as-trump-coin-surges-over-100-in-a-month-trumps-crypto-wallet-swells-in-value/
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38
David Bailey, CEO of Bitcoin Magazine and crypto aide for the Trump campaign, believes that Trump’s victory in the upcoming election could trigger a bitcoin ‘space race,’ as countries rush to accommodate their policies to align with the U.S. Bailey also stated that they have secured several 7-figure commitments for Trump’s pro-crypto $100 million war […] https://news.bitcoin.com/bitcoin-magazine-ceo-a-trump-victory-will-trigger-a-bitcoin-space-race/
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39
Kucoin, a global cryptocurrency exchange platform, announced on May 15 that it has temporarily suspended its peer-to-peer (P2P) services for the Nigerian naira, as well as the Fast Buy service via naira cards. The crypto exchange stated that during this period, it will focus on ensuring compliance and creating a more robust and secure environment […] https://news.bitcoin.com/cryptocurrency-exchange-kucoin-suspends-p2p-services-for-nigerian-naira/
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40
Ibex Pay, a payment rail that accepts Bitcoin payments via the Lightning Network, announced on May 15 that it will cease operations in the U.S. The payment firm stated that the suspension of services for the U.S. market will take effect on May 31, but did not provide reasons for the decision. The company is […] https://news.bitcoin.com/bitcoin-lightning-payments-service-provider-ibex-pay-to-suspend-us-operations/
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Mastercard’s Start Path Blockchain and Digital Asset program has expanded to include five new startups, aiming to explore innovative uses of blockchain technology. “Digital assets are becoming increasingly mainstream, speeding up commerce with trust and transparency,” Mastercard stated. Mastercard’s Digital Asset Program Expands Payments giant Mastercard announced Wednesday that five startups from around the world […] https://news.bitcoin.com/mastercard-welcomes-5-startups-to-blockchain-and-digital-asset-program/
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Mastercard Welcomes 5 Startups to Blockchain and Digital Asset Program – Featured Bitcoin News

Payments giant Mastercard's blockchain and digital asset program has expanded to include five new startups.

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Better Markets, a financial nonprofit organization, has lashed out against approving a spot ether ETF product, stating that it would endanger the broader financial system. In a supplemental comment letter sent to the SEC, the organization states that approving these spot ether ETPs would “interweave the crypto industry with traditional finance,” aggravating systemic risks introduced […] https://news.bitcoin.com/financial-nonprofit-better-markets-approving-a-spot-ether-etf-would-threaten-the-broader-financial-system/
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Financial Nonprofit Better Markets: Approving a Spot Ether ETF Would Threaten 'the Broader Financial System' – Bitcoin News

Better Market has lashed out against approving a spot ether ETF product, stating that it would endanger the broader financial system.

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In the first quarter of 2024, Canaan Inc. generated $35.1 in revenues versus the $72.4 million in costs incurred in the same period which resulted in the company recording a gross loss of $37.3 million. Nangeng Zhang claimed that Canaan’s revenues in the last quarter exceeded expectations due to the company’s persistent sales efforts and […] https://news.bitcoin.com/mining-rig-producer-canaans-q1-unrealized-gains-narrow-net-loss-to-39-4-million/
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Mining Rig Producer Canaan's Q1 Unrealized Gains Narrow Net Loss to $39.4 Million – Mining Bitcoin News

Canaan’s revenues in Q1 exceeded expectations due to the company’s persistent sales efforts and the optimization of mining operations.

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Binance’s Financial Crimes Compliance Department recently collaborated with Taiwan’s Ministry of Justice Investigation Bureau and the Taipei District Prosecutors Office on a significant cryptocurrency-assisted money laundering case involving nearly NT$200 million (approximately US$6 million). The criminal operation had been laundering money through virtual assets by creating fake customer records and forged identity data. Law enforcement […] https://news.bitcoin.com/binance-aids-taiwan-in-busting-6m-crypto-money-laundering-ring/
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Binance Aids Taiwan in Busting $6M Crypto Money Laundering Ring – News Bytes Bitcoin News

Crypto exchange Binance collaborated with Taiwan's authorities on a significant cryptocurrency money laundering case.

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Dolce & Gabbana USA Inc. faces a lawsuit from a customer who claims the non-fungible tokens (NFTs) he bought for $6,000, which included metaverse outfits, lost 97% of their value due to delivery failures by the luxury fashion house. The complaint, filed in Manhattan federal court, alleges the NFTs were promoted with various digital, physical, […] https://news.bitcoin.com/dolce-gabbana-sued-over-6000-nfts-losing-97-value/
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Dolce & Gabbana Sued Over $6,000 NFTs Losing 97% Value – News Bytes Bitcoin News

Dolce & Gabbana USA Inc. faces a lawsuit from a customer who claims the non-fungible tokens (NFTs) he bought lost 97% of their value.

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Michael Burry, an investor famous for making a fortune by anticipating the 2007 subprime mortgage crisis, made a sizable bet on physical gold. According to regulatory filings, Burry’s Scion Asset Management purchased over 440,000 Sprott Physical Gold Trust units, a closed-end fund that invests and holds its assets in physical gold bullion. Big Short’s Investor […] https://news.bitcoin.com/big-short-investor-michael-burry-goes-hard-on-gold-invests-10-million-in-q1/
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'Big Short' Investor Michael Burry Goes Hard on Gold, Invests $10 Million in Q1 – Economics Bitcoin News

Michael Burry, the investor who made a fortune by anticipating the 2007 subprime mortgage crisis, reported making a sizable bet on gold.

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The Ontario Securities Commission (OSC) announced on May 15 that two Ontario residents have been charged with offenses under the Criminal Code of Canada as part of Project Swan, a joint investigation by the Durham Regional Police Service (DRPS) and the OSC. Aiden Pleterski, self-proclaimed “Crypto King,” is charged with fraud over $5,000 and laundering […] https://news.bitcoin.com/ontario-crypto-king-faces-major-fraud-and-money-laundering-charges/
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Ontario 'Crypto King' Faces Major Fraud and Money Laundering Charges – News Bytes Bitcoin News

Aiden Pleterski, self-proclaimed "Crypto King," is charged with fraud and laundering proceeds of crime. He was released on bail Tuesday.

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The Nigerian fintech firm Flutterwave claimed on May 16 that it had foiled an attempt to breach its payments platform. Flutterwave asserted that the “unauthorized activities inconsistent with usual customer behavior” did not compromise users’ funds or data confidentiality. According to one report, over $7 million was siphoned from Flutterwave following a cyberattack in April. […] https://news.bitcoin.com/nigerian-fintech-firm-flutterwave-confirms-hacking-attempt-says-users-funds-safe/
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Nigerian Fintech Firm Flutterwave Confirms Hacking Attempt, Says Users’ Funds Safe – Africa Bitcoin News

According to one report, over $7 million was siphoned from the Nigerian fintech firm following a cyberattack in April.

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The French securities regulator, the Autorité des Marchés Financiers (AMF), has issued a renewed warning against using the digital asset platform Bybit. The AMF reminded French investors that Bybit is an unregistered crypto platform operating illegally in the country. The regulator has advised French investors who use Bybit to take all the necessary precautions to […] https://news.bitcoin.com/french-regulator-renews-warning-against-blacklisted-bybit/
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French Regulator Renews Warning Against Blacklisted Bybit – Regulation Bitcoin News

The regulator has advised French investors who use Bybit to take all the necessary precautions to safeguard their investments. 

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Following the policymaker’s survey, U.S. Representative Thomas Massie (R-Ky.) announced the introduction of H.R. 8421, known as the “Federal Reserve Board Abolition Act.” This legislation aims to dismantle the Board of Governors of the Federal Reserve and close its branches across the continental United States. Federal Reserve Board Abolition Act Resurfaces Two days ago, Massie, […] https://news.bitcoin.com/us-lawmaker-introduces-bill-to-dismantle-feds-board-of-governors-and-abolish-the-central-bank/
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US Lawmaker Introduces Bill to Dismantle Fed’s Board of Governors and Abolish the Central Bank – Bitcoin News

This legislation aims to dismantle the Board of Governors of the Federal Reserve and close its branches across the continental United States.

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