Bitcoin ETFs have seen outflows of $1.3 Bitcoin in the last two weeks of trading, but analysts expect markets to rally higher in the coming months. Source: https://cointelegraph.com/news/bitcoin-etfs-shed-1-3-billion-two-weeks-amid-market-slump
Month: June 2024
Bitcoin ‘cascading long squeeze’ to blame for slump to $60K
An increasing number of traders entering new long positions was the ‘fuel’ behind Bitcoin’s slump to $60,000, according to a Bitcoin analyst Willy Woo. Source: https://cointelegraph.com/news/bitcoin-long-position-liquidation-squeeze-btc-miners-price-crypto-analyst
Jason Derulo sold his JASON tokens while saying he won’t, says Bubblemaps
The analytics firm claims the singer sold tokens despite promises that he wouldn’t, while the controversial figure who apparently helped create the token claims “it’s all orchestrated.” Source: https://cointelegraph.com/news/jason-derulo-sold-token-after-saying-he-wouldnt-bubblemaps
Tencent Tests Use Cases for Trading Settlements Using Digital Yuan and Mbridge
Tencent, the Chinese tech giant, was revealed to be participating in the tests that the Chinese institutions have completed using Mbridge, a CBDC-enabled cross-borders settlement platform. Tencent participated through its international settlements arm Tenpay, which piloted the use case of the Chinese CBDC, the digital yuan, to settle e-commerce exports using Mbridge’s rails. Tencent Participated […] Source: https://news.bitcoin.com/tencent-tests-use-cases-for-trading-settlements-using-digital-yuan-and-mbridge/
‘Survival games’ as Bitcoin hash price skirts near all-time low
Despite the hash price crash, most Bitcoin mining machines remain profitable for the time being. Source: https://cointelegraph.com/news/bitcoin-miners-survival-mode-hash-rate-approaches-all-time-low
Alex Lab points to Lazarus Group after last month's $4M exploit
After being exploited for $4.3 million in May, Alex Lab reveals they have since found “substantial transaction evidence” pointing the attack to North Korea’s Lazarus Group. Source: https://cointelegraph.com/news/bitcoin-layer-2-alex-lab-may-exploit-lazrus-group-north-korea
The Two-Class System of Regulation Plaguing Europe
In the rapidly evolving landscape of digital finance, the emergence of crypto assets has introduced unprecedented challenges as well as opportunities for regulators who provide proactive frameworks across the globe. The European Union is the largest government body that has done so through the Markets in Crypto-Assets Regulation (MiCAR), however, it finds itself at a […] Source: https://news.bitcoin.com/the-two-class-system-of-regulation-plaguing-europe/
Korean Researcher Says Benefits of Spot Crypto ETFs Are Outweighed by Potential Harm
A researcher with the Korean Institute of Finance has warned South Korea against introducing spot cryptocurrency exchange-traded funds (ETFs) because these may pose risks to financial stability. The introduction of spot crypto ETFs could exacerbate the inefficient allocation of resources. Spot Crypto ETFs Cause Inefficient Allocation of Resources Bo-mi Lee, a researcher with the Korean […] Source: https://news.bitcoin.com/korean-researcher-says-benefits-of-spot-crypto-etfs-are-outweighed-by-potential-harm/
Iran Officially Unveils Central Bank Digital Currency Project
Iran officially unveiled its central bank digital currency (CBDC) on Sunday during a ceremony attended by Central Bank of Iran (CBI) Governor Mohammad Reza Farzin and chief executives of several major banks. This digital currency, issued electronically by the central bank, aims to streamline transactions within the country’s banking system. A pilot project will commence […] Source: https://news.bitcoin.com/iran-officially-unveils-central-bank-digital-currency-project/
AI tokens rally as NVIDIA slumps 13% from market cap peak
Despite Nvidia, one of the most talked-about stocks of the year, sharply falling in price, artificial intelligence crypto tokens are spiking. Source: https://cointelegraph.com/news/ai-cryptocurrency-tokens-surge-amid-nvidia-decline