Month: April 2024

In a significant turn of events, former FTX CEO Sam Bankman-Fried has agreed to a settlement with investors, providing crucial cooperation in ongoing lawsuits against high-profile celebrities. The settlement, pending court approval, could mark a pivotal moment in the extensive legal battles following the crypto exchange’s colossal collapse. Former Crypto Tycoon and Now Convicted Inmate […] Source: https://news.bitcoin.com/ftx-founder-bankman-fried-agrees-to-settlement-aids-legal-action-against-celebrities/

JPMorgan Chase CEO Jamie Dimon has doubled down on his anti-bitcoin stance, emphasizing that the crypto is a fraud with no future as a currency. “It’s a Ponzi scheme,” the executive stressed. However, despite his strong opinion about bitcoin, JPMorgan is an authorized participant for Blackrock’s spot bitcoin exchange-traded fund (ETF). Dimon, while advising investors […] Source: https://news.bitcoin.com/jpmorgan-ceo-jamie-dimon-bitcoin-is-a-fraud-theres-no-hope-for-btc-as-a-currency/

The U.S. Internal Revenue Service (IRS) has released a draft tax Form 1099-DA for reporting digital asset proceeds from broker transactions. Brokers, including unhosted wallet providers, are required to report proceeds from digital asset dispositions to the IRS. A crypto tax expert has highlighted that the collection of certain data points, such as wallet addresses, […] Source: https://news.bitcoin.com/irs-releases-draft-tax-form-for-digital-assets-expert-raises-major-privacy-and-security-concerns/

JPMorgan Chase and Deutsche Bank have weighed in on potential price movements for bitcoin following the halving. “We continue to expect prices to stay high,” Deutsche Bank analysts said. JPMorgan analysts, however, stated that they “see downside for the bitcoin price post halving for several reasons.” JPMorgan and Deutsche Bank on Bitcoin Post-Halving JPMorgan Chase […] Source: https://news.bitcoin.com/deutsche-bank-expects-bitcoin-price-to-stay-high-after-halving-jpmorgan-disagrees/

A new bill co-sponsored by Senators Cynthia Lummis and Kirsten Gillibrand, aimed at regulating stablecoins, has drawn criticism for potentially stifling innovation and breaching First Amendment rights. The bill includes a provision that bans all “algorithmic payment stablecoins,” which could have significant implications for software developers and the broader tech community. Lummis-Gillibrand Stablecoin Bill Criticized […] Source: https://news.bitcoin.com/new-stablecoin-bill-faces-criticism-for-stifling-innovation-and-breaching-first-amendment/

Since the halving, miners have successfully extracted 93 blocks, accumulating a significant 1,087.99 bitcoins valued at approximately $71.04 million solely from transaction fees. As of 2:00 p.m. EDT on Saturday, the current metrics indicate a high-priority transaction cost of 492 satoshis per virtual byte (sat/vB), equivalent to $44.83 per transfer. Bitcoin Mining Landscape Transforms With […] Source: https://news.bitcoin.com/93-blocks-71-million-in-fees-bitcoin-mining-revenue-booms-post-halving/

Following the Bitcoin halving event, onchain fees climbed to over $240 per transaction just an hour later, and as of now, a high-priority transfer costs between $52 and $78 per transaction at 10:30 a.m. Eastern Time on Saturday. The increasing fees have prompted a flood of comments from individuals in the crypto space, as this […] Source: https://news.bitcoin.com/bitcoin-halving-runes-proliferation-results-in-historic-fee-increases-crypto-community-reacts/

In the ever-evolving landscape of cryptocurrencies and financial markets, few events generate as much anticipation and excitement as the Bitcoin halving. As this phenomenon approaches, there’s a palpable buzz in the air, with enthusiasts and investors alike speculating about its potential impact on the market. This time around, however, a new player has emerged on […] Source: https://news.bitcoin.com/bitcoin-halving-sparks-next-bull-run-cogwise-leads-the-charge-in-financial-prediction/

Bitcoin’s market value has experienced significant shifts following the recent halving event at block height 840,000, which saw onchain fees soar beyond $240 per transaction. This pivotal change coincides with a notable fluctuation in price, demonstrating a complex interplay of supply and demand forces at work. Currently, bitcoin is trading at $64,488, down 4.5% this […] Source: https://news.bitcoin.com/bitcoin-market-update-post-halving-price-dynamics-and-market-movements/

In the 12 hours following the introduction of the Runes protocol, bitcoin miners have collected substantial fees as the rush to mint runes now dominates block space. Presently, numerous runes exist on the Bitcoin blockchain, with several being offered on marketplaces such as Okx and Magic Eden. The Runes Economy Has Been Born Since their […] Source: https://news.bitcoin.com/runes-proliferate-on-bitcoin-sparking-new-token-sales-on-specific-markets/