Bitcoin (BTC) dropped 8% in less than 10 minutes to temporarily fall under $26,000 after several downward days of price action. BTC was hovering around $27,600 on Aug. 17 at 9:30 pm UTC time before tumbling more than 8% to $25,320 at the time of writing, according to CoinGecko. BTC went below $25k on Bitfinex,…
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The price of Bitcoin (BTC) will surge past an eye-watering $150,000 by the end of 2024, as long as the current slew of United States spot-Bitcoin exchange-traded funds (ETFs) are approved, according to investment research boutique Fundstrat. In an Aug. 16 interview on CNBC’s Squawk Box, Fundstrat’s managing partner and head of research Tom Lee predicted…
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El Salvadorian school kids as young as 12 years old are being orange-pilled — taught to send their first Bitcoin (BTC) transaction by visiting members of El Salvador’s Bitcoin Beach. Bitcoin Beach community leader Roman Martínez told Cointelegraph that he believes early-age education on Bitcoin, money and the economy may lay out a framework for…
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Ripple Labs has voiced its opposition towards the United States securities regulator’s move towards filing an interlocutory appeal relating to the summary judgment laid down by U.S. District Court Judge Analisa Torres on Jul. 13. In an Aug. 16 letter to Torres of the Southern District of New York, Ripple’s lawyers explained that because the Securities…
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Former FTX executive Ryan Salame will reportedly avoid testifying about his role in FTX’s alleged illegal campaign donation scheme if he is subpoenaed in Sam Bankman-Fried’s criminal trial. Lawyers representing the former FTX co-CEO said that Salame will be unavailable as a witness to the case, according to an Aug. 14 motion filed by United…
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Grayscale Investments, which has been seeking to convert its Bitcoin (BTC) trust into a spot Bitcoin exchange-traded fund, could be getting a decision on its lawsuit against the federal securities regulator before the week’s end. In an Aug. 11 Twitter post, Scott Johnsson, a general partner of Van Buren Capital explained that law clerks in…
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Colorado-based Bitcoin mining firm Riot Platforms narrowed its second quarter net loss to $27.7 million as it ramped up its Bitcoin production and reached record hash rate capacity. The crypto miner posted total revenue of $76.7 million — up 5.2% from Q2 2022 — which was primarily driven by a 27% year-on-year increase in Bitcoin…
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The United States Securities and Exchange Commission has filed a letter of intent to request an interlocutory appeal to Judge Analisa Torres’ July 13th summary judgment in its ongoing legal battle against Ripple Labs. In an Aug. 9 letter to Judge Torres, the SEC explained it believed her decision warrants a fresh look by an appellate…
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FTX’s former primary counsel Fenwick & West LLP has been hit with a class-action suit claiming it aided the crypto exchange’s alleged multi-billion dollar fraud. An Aug. 7 filing by a group of FTX customers in a California District Court alleged the law firm set up several “shadowy entities” allowing FTX co-founder Sam Bankman-Fried and…
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The United States Federal Reserve is broadening the scope of its supervision program which oversees U.S. banks that engage with the cryptocurrency and blockchain industry. An Aug. 8 announcement by the Federal Reserve Board established the Novel Activities Supervision Program which aims to limit certain crypto-related activities and facilitate a more fair playing field for…
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