Lawyers representing the US city of Detroit plan to file an amicus brief in Coinbase’s lawsuit against Michigan, which argues that federal regulators should have authority in overseeing prediction markets and not states. In a Thursday filing in the US District Court for the Eastern District of Michigan related to state officials’ motion for a…
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US Representatives Max Miller and Steven Horsford published a discussion draft bill on Thursday titled the ‘‘Digital Asset Protection, Accountability, Regulation, Innovation, Taxation, and Yields Act’’ or the ‘‘Digital Asset PARITY Act,” to overhaul the tax code for digital assets. The Digital Asset PARITY Act seeks to overhaul the Internal Revenue Code of 1986 by…
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Bitcoin (BTC) neared $66,000 at Friday’s Wall Street open as analysis called US inflation trends “objectively unsustainable.” Key points: Bitcoin drops further on oil-supply woes as Iran closes the Strait of Hormuz. BTC price performance is set to seal its sixth straight month of losses at the March close. Traders eye the lows with $70,000…
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The chances of former FTX CEO Sam Bankman-Fried getting a pardon didn’t seem great this year, and a recent downtick on prediction markets shows that they aren’t getting any better. Both major prediction markets in the United States, Polymarket and Kalshi, have the likelihood of Bankman-Fried receiving a presidential pardon this year at 11% and…
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Bitcoin grabbed downside liquidity as oil-supply pressure sent BTC price action below $66,500 to its lowest levels since March 9. Source link
Bitcoin (BTC) dropped toward $67,000 during the European trading session on Friday despite an increase in long-term buying. Exchange withdrawals also increased to 16-month highs, suggesting reduced “immediate selling pressure,” a new analysis said. Key takeaways: Bitcoin withdrawals from exchanges increases, reducing BTC available for sale. Long-term holders accelerate accumulation, adding 155,450 BTC over the…
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An Australian court ordered Binance Australia Derivatives to pay $6.9 million after misclassifying retail clients and exposing them to high-risk crypto products. The Federal Court of Australia has ordered Oztures Trading Pty Ltd, trading as Binance Australia Derivatives, to pay a 10 million Australian dollar ($6.9 million) penalty after the company admitted to misclassifying more…
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US spot Bitcoin exchange-traded funds (ETFs) logged $171 million in outflows on Thursday, their biggest day of redemptions since March 3, when they posted $348 million in outflows. BlackRock’s iShares Bitcoin Trust ETF (IBIT) led the outflows with $41 million, Fidelity’s Wise Origin Bitcoin Fund (FBTC) followed with $32 million, the ARK 21Shares Bitcoin ETF…
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Large Bitcoin holders accumulated 61,568 more Bitcoin over the past month against the backdrop of escalating conflict in the Middle East and macroeconomic uncertainty. Whales and sharks, defined as those holding between 10 and 10,000 Bitcoin (BTC), have increased their holdings by 0.45%, while wallets with under 0.01 Bitcoin have added 0.42%, or 213 BTC,…
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A US federal judge in San Francisco has granted Anthropic’s request for temporary reprieve after the Pentagon’s designation of the company as a supply chain risk. In an order on Thursday, Judge Rita Lin of the District Court for the Northern District of California ordered a preliminary injunction against the Pentagon over the label. It…
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