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Marathon Digital says Montana storm knocked out most Bitcoin rigs

Marathon Digital, a major Bitcoin miner in the U.S., had to halt three-fourths of its mining operations in Montana due to power outages caused by a storm, reinforcing an earlier decision to move out of the region. See related article: Compass Mining CEO, CFO resign after utility payment default allegations Fast facts The Nasdaq-listed company […]

Bitcoin Jesus denies default; Celsius fight back planned

Bitcoin CEO Roger Ver denies defaulting on a loan to CoinFLEX. Meanwhile, Youtuber Bitboy takes aim at Celsius Network.

Cypherpunk dumps Bitcoin and Ether to avoid more drawdowns

Cypherpunk Holdings Inc. has liquidated all of its Bitcoin and Ethereum treasury holdings, the Canadian investment firm said on Tuesday.  See related article: Warnings on crypto, Bitcoin have materialized, says central bank body BIS Fast facts “In the interest of all shareholders, the company transitioned its treasury to cash,” said Moe Adham, investment chief at […]

Investors yank US$453 mln from Bitcoin: report

Investors withdrew US$423 million in funds from digital assets last week, the largest such weekly outflow on record, according to exchange data tracked by CoinShares. See related article: Crypto winter ushers in account freezes as platforms feel the chill Fast facts The outflows were almost entirely from Bitcoin (BTC), which experienced a net withdrawal of […]

Warnings on crypto, Bitcoin have materialized, says central bank body BIS

Deeper structural flaws in crypto make it unsuitable as the basis of a monetary system that serves society, the Bank for International Settlements said in its annual report.
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Bitcoin mining difficulty reading drops 2.35% in latest adjustment

Bitcoin mining difficulty dropped by 2.35% on Thursday, after recording a 1.3% increase earlier this month, according to data from BTC.com. See related article: China’s Guizhou province to slap backdated power charges on uncovered crypto miners Fast facts The mining difficulty reading is now at 29.57 trillion at a block height of 741,888, according to […]

Bitcoin, cryptocurrencies return to red with soaring UK inflation

Bitcoin dropped below US$20,000 for the third time in a week on Thursday morning in Asia as news of record inflation in the U.K. and warnings of a recession hit crypto markets. See related article: Crypto on a roller coaster as market braces for Fed guidance on rates Fast facts Bitcoin was trading down 3.5% […]

ProShares to launch Bitcoin short ETF

ProShares will launch a short Bitcoin-backed exchange-traded fund (ETF) on the New York Stock Exchange (NYSE), the U.S.-based ETF issuer announced on Monday. See related article: Bitcoin price hits all-time high after ProShares ETF debut Fast facts ProShares Short Bitcoin Strategy ETF is scheduled to begin trading on the NYSE on Tuesday under the ticker […]

Bitcoin bounces back; South Korea crypto tax delay

Bitcoin recovers from it’s weekend slump, standing at over US$20K. Meanwhile, Elon Musk’s support sees Dogecoin gain 12%.

Bitcoin investments will grow ‘immensely’: El Salvador president

El Salvador President Nayib Bukele took to Twitter on Sunday to reassure Bitcoin investors, claiming such investments are safe and will grow “immensely” after the bear market. See related article: El Salvador’s Bitcoin adoption, one week on Fast facts “My advice: stop looking at the graph and enjoy life. If you invested in #BTC your […]

Binance didn’t buy US$2B worth of Bitcoin, founder Changpeng Zhao says

Binance did not buy US$2 billion worth of Bitcoin as reported by media over the weekend, its founder and chief executive officer Changpeng Zhao said on Monday in a tweet. See related article: Bitcoin recovers above US$20K after weekend slump Fast facts At least two news sites reported that Binance had bought the dip and […]

Bitcoin recovers above US$20K after weekend slump

Bitcoin’s price recovered above the US$20,000 mark Monday morning in Asia after falling to as low as US$17,708 on Sunday — its lowest point since December 2020 — according to CoinMarketCap. See related article: Bitcoin, Ether recover as Fed guidance reduces policy uncertainty Fast facts The world’s largest cryptocurrency gained more than 7% in the […]

Contagion risk from Three Arrows Capital weighs on Bitcoin, crypto

After a short-lived recovery, Bitcoin, Ether and other cryptocurrencies are trading lower on fears of a contagion risk from a possible financial implosion at Three Arrows Capital.

Bitcoin, crypto return to red after rate hike rally wears off

Thursday’s crypto market recovery was short-lived as most major tokens fell by at least 7% in the past day, with Bitcoin trading within reach of US$20,000 for the first time since December 2020. See related article: Bitcoin, Ether recover as Fed guidance reduces policy uncertainty Fast facts The world’s largest cryptocurrency fell up to 10% […]

Client accuses Bitcoin, Ethereum backer Three Arrows Capital of misappropriating funds

The crypto hedge fund got called out on social media Thursday for allegedly misappropriating US$1 million to cover risks of insolvency.

Bitcoin, Ether recover as Fed guidance reduces policy uncertainty

Despite short-term volatility weighing on prices, an inevitable easing of monetary policy in response to the pandemic and other crises means Bitcoin and other cryptos will find value as a hedge against runaway inflation, market participants tell Forkast.

Bitcoin, Ethereum, TRX recover as Fed bumps rates by 75 bpt

Bitcoin and other cryptocurrencies responded positively to the U.S. Federal Reserve’s move to raise interest rates by 75 basis points on Wednesday — the largest single increase since 1994 — in an effort to curb rising inflation. See related article: Crypto on a roller coaster as market braces for Fed guidance on rates Fast facts […]

Has ‘Crypto Winter’ arrived with Bitcoin, Ether prices falling?

After what seems like a dead cat bounce, cryptocurrencies are falling again in Asian trade as markets head into the Federal Reserve’s announcement of its decision on interest rates on June 15.
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Michael Saylor, MicroStrategy stick to their guns on Bitcoin

MicroStrategy CEO Michael Saylor says the company will not have a margin call on their US$205 million Bitcoin-backed loan after their crypto holdings dropped by over US$1 billion over the past week, according to data from CoinGecko.  See related article: MicroStrategy, crypto firm shares plunge with Bitcoin’s freefall Fast facts When MicroStrategy adopted a Bitcoin […]

Bitcoin, Ether bear brunt of market selloff amid fears of Fed rate increase

Still recovering from the Terra-LUNA debacle that wiped off billions of dollars in investor wealth, people sold off cryptocurrencies amid a market slump over expectations that the Fed will act faster to tame inflation.
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Binance resumes Bitcoin withdrawals

Binance, the world’s largest crypto exchange by trading volume, has resumed withdrawals on its Bitcoin (BTC) network after a short pause early on Monday, according to an official statement. See related article: CEL down over 50% since Celsius Network’s withdrawal freeze Fast facts On his verified Twitter handle, CEO Changpeng Zhao said the issue was […]

MicroStrategy, crypto firm shares plunge with Bitcoin’s freefall

MicroStrategy is leading Marathon, Riot and Coinbase in a cryptocurrency-exposed stock selloff, closing down over 25% on Monday, as the firm’s Bitcoin holdings dropped by around US$1 billion.  See related article: MicroStrategy posts Q1 revenue loss amid falling Bitcoin price Fast facts MicroStrategy became entangled with Bitcoin after founder Michael Saylor added record amounts to […]

Bitcoin price drops more than 8% as higher-than-expected inflation spooks markets

Bitcoin, Ethereum, Solana and other major altcoins dropped significantly over the weekend, as U.S. equity markets faced one of their worst weeks in months. See related article: Has Bitcoin become a victim of its own success? Fast facts Bitcoin dropped 8.3% over the past 24 hours to US$25,240.08, according to CoinMarketCap data, as higher-than-expected inflation […]

Next step for spot Bitcoin ETF in the US may be a courtroom battle

It’s been a ‘Waiting for Godot’ experience for the crypto industry regarding US approval of a spot Bitcoin ETF. A decision next month by the SEC could bring a lift to crypto markets or be a boon to lawyers.

Why the IMF is wrong about El Salvador’s Bitcoin experiment

Is El Salvador committing a major blunder in making Bitcoin legal tender — or finding its way out of the hell of dollarization? Bryan Hernandez explains.

Bitcoin mining difficulty adjusts up 1.3%

Bitcoin mining difficulty recovered slightly on Wednesday, recording a 1.3% increase from the previous downward adjustment two weeks ago, according to data from BTC.com. See related article: Beijing banned crypto mining, so China miners went underground Fast facts The mining difficulty reading is now at 30.28 trillion at a block height of 739,872, according to […]

Canada’s 3iQ launches Bitcoin and Ethereum feeder ETFs in Australia

Following Australia’s recent approvals of crypto-based exchange-traded funds (ETFs), Canada’s 3iQ Digital Asset Management launched two crypto feeder ETFs on the Cboe Australia Exchange on Tuesday. See related article: Canada’s 3iQ could be first to launch Australian crypto ETF Fast facts The two feeder funds, one in Bitcoin and another in Ether, track the asset’s […]

Bitcoin passes half-billion mark in YTD inflow: CoinShares

Bitcoin’s total year-to-date inflows passed the half-billion mark at US$506 million after adding US$126 million last week, digital asset manager CoinShares reported.  See related article: Crypto market reverses course after strong start to the week Fast facts Ethereum, on the other hand, saw outflows totaling US$32 million, enduring negative investor sentiment with nine straight weeks […]

Gemini sued over US$36 mln Bitcoin and Ethereum hack

IRA Financial Trust announced a lawsuit against cryptocurrency exchange Gemini Trust Company on Monday for alleged failures in safeguarding IRA’s crypto assets in the exchange. See related article: Binance users burned by outage band together to take legal action Fast facts IRA manages self-directed retirement accounts in non-traditional assets such as Bitcoin which were held […]

Prosecutor OKs arrest of Chinese executive accused of embezzling US$8 mln to mine Bitcoin

A prosecutor in Beijing has reportedly approved the arrest of a director of a Shanghai-listed Chinese big data company on suspicion of misappropriating the firm’s funds to mine Bitcoin, exchange filings showed. See related article: Beijing banned crypto mining, so China miners went underground Fast facts Li Qunnan, a director of the board of Zhongchang […]

Bitcoin payments for local taxes in the works, Gold Coast mayor says

The mayor of Australia’s Gold Coast, Tom Tate, has suggested that city residents could be paying council rates, or local property tax, in Bitcoin. See related article: Aussie watchdog obtains cold wallet holding US$20M in Bitcoin involved with alleged scam Fast facts “It sends a signal that we’re innovative and bring in the younger generation,” […]

Singapore’s crypto warning; Bitcoin takes a tumble

Singapore issues a crypto warning for retail investment. Meanwhile, Bitcoin took a tumble sparking market concerns

ARK Investment, 21Shares take another try at a spot Bitcoin ETF

Veteran investor Cathie Wood’s ARK Investment Management and Swiss investment product issuer 21Shares are trying their luck again at getting a spot Bitcoin exchange-traded fund (ETF) approved. See related article: SEC comes around on Bitcoin ETFs Fast facts Cboe BZX Exchange, Inc. is seeking the Securities and Exchange Commission’s (SEC) approval to a proposed rule […]

Bitcoin hashrate falls; Australia’s crypto future

Bitcoin’s hashrate has dropped since the crypto market crash. Meanwhile, Australia’s new Labor government could bring about changes for the crypto sector.

JPMorgan sees upside for Bitcoin, crypto amid market downturn

A JPMorgan strategist said digital assets are the bank’s preferred alternative asset class while placing Bitcoin’s fair price value at 28% higher than its current price of about US$29,000. See related article: JPMorgan predicts $150,000 Bitcoin price in the long run Fast facts “Going forward, we see upside for Bitcoin and crypto markets more generally,” […]

Bitcoin mining hashrate, difficulty drop since crypto crash

Bitcoin’s hashrate dropped by 10.6% to 204.4 exahashes per second on Wednesday on a seven-day average from its peak earlier this month, Blockchain.com data show. See related article: Beijing banned crypto mining, so China miners went underground Fast facts The Bitcoin mining difficulty level fell by 4.33% to 29.9 trillion at block height 737,856 on […]

Bitcoin rig maker Canaan reports over US$200 mln in Q1 revenue

Chinese crypto mining rig maker Canaan booked robust revenue growth in Q1 2022 despite logistical issues and supply chains disruptions from the pandemic, the company said on Thursday. See related article: SEC places Chinese crypto mining rig maker Canaan on pre-delisting list Fast facts Canaan recorded 1.36 billion yuan (US$214 million) in revenue in the […]

Bitcoin correlation continues; Terra vote starts positively

Indian crypto traders may soon be able to pay the crypto tax using foreign exchanges. Meanwhile, the Terra revival plan vote finally goes live.

Bitcoin, crypto drop as stocks slump in the US

Bitcoin’s increasing correlation with risk assets meant it got caught up in the overnight market selloff in the U.S. Investors dumped shares of Target and Walmart after the American retailers cautioned about possibly taking a margin hit from not being able to pass on price increases to customers. See related article: Has Bitcoin become a […]

China banned Bitcoin mining and became world’s No.2 Bitcoin miner

The 2021 Bitcoin mining exodus has left underground miners thriving to push China’s hashrate share near to the top, new study finds.

Terra hard fork proposed; Temasek ‘doesn’t own Bitcoin’

As Terra continues to crash, Do Kwon proposes a hard fork solution, Meanwhile, Singapore’s Temasek gets ready for tokenized assets.

Singapore’s Temasek says doesn’t own Bitcoin, but prepping for tokenized assets

The Bitcoin community got a lift last year when it was reported Singapore’s sovereign wealth fund had bought Bitcoin. The company told Forkast in an interview that they do not own BTC, but they are keen on blockchain investments.

How Bitcoin in gaming could spur greater crypto use in the everyday economy

The future world will run on digital money—the most trusted being Bitcoin, writes André Neves of Zebedee. Here’s how gaming can bring BTC to the masses.

Can ETFs in Australia do for Bitcoin what they did for gold trading?

After the launch of three cryptocurrency exchange-traded funds on Thursday, Forkast spoke with company officials behind two of the funds, along with others in the industry, to see what the new investment platforms offer to investors.

Bitcoin, Ethereum, crypto at 2022’s lowest point

Bitcoin’s price has dipped to its lowest point since December 2020 amidst bearish cryptocurrency market sentiments to trade at US$28,652, according to CoinMarketCap data at press time. See related article: Terra LUNA’s sacrifice pushes UST to US$0.84 Fast facts The crypto bear run extended on Thursday, as China’s inflation rose by 1.5% in April from […]

Australia’s first Bitcoin and Ethereum spot ETFs go live

Australia’s first three cryptocurrency exchange-traded funds (ETF) launched on the Cboe exchange on Thursday, bringing Bitcoin and Ethereum products to the stock market. See related article: Launch of three crypto ETFs in Australia delayed Fast facts One of the funds, the Cosmos Purpose Bitcoin Access ETF (CBTC) from Cosmos Asset Management, tracks the Purpose Bitcoin […]

Bitcoin mining difficulty at a record high

Bitcoin mining difficulty hit another all-time-high on Wednesday, recording a 4.9% increase from the previous adjustment last month. See related article: SEC places Chinese crypto mining rig maker Canaan on pre-delisting list Fast facts The mining difficulty reading is now at 31.25 trillion at a block height of 735,840, according to BTC.com data.  The previous […]

Not worried about Bitcoin margin call: MicroStrategy’s Michael Saylor

The CEO of business analytics software firm MicroStrategy took to Twitter to reassure investors as an outsized bet on Bitcoin faltered. See related article: Has Bitcoin become a victim of its own success? Fast facts If the price of Bitcoin falls below US$3,562, the company could post some other collateral, Saylor claimed. MicroStrategy has a […]

Bitcoin kimchi premium spikes to 2022 high before dropping to 3%

South Korea’s kimchi premium dropped to around 3.39% on Wednesday after climbing up to its highest since December, 6.28%, on Tuesday, according to CryptoQuant data. See related article: Korea’s Bitcoin kimchi premium explodes as Kakao rises on Upbit rumors Fast facts Kimchi premium describes the higher price gap between tokens on South Korean exchanges and […]

El Salvador snaps up US$15 mln in Bitcoin after price plunge

El Salvador this week bought 500 Bitcoins for US$15.37 million, taking advantage of a sharp price decline to add to its holdings of the cryptocurrency, which is also legal tender in the Central American country.  See related article: El Salvador to build world’s first ‘Bitcoin City’ to be powered by volcanoes Fast facts “El Salvador […]

Bitcoin, crypto market dive to lowest mark since February

Almost US$250 billion has been wiped from the cryptocurrency market since Thursday, with Bitcoin tumbling below US$35,000 on Monday for the first time since February. See related article: Bitcoin falls with Nasdaq’s worst performance since 2020 Fast facts Fellow market leader Ethereum was trading at US$2,532 at press time. Terra LUNA was among the biggest […]

Bitcoin falls with Nasdaq’s worst performance since 2020

The Nasdaq Composite had its worst drop since June 2020, closing Thursday down 4.99% the day after the U.S. Federal Reserve announced the sharpest interest rate hike since 2000. See related article: Bitcoin flirts with US$40K as Fed stamps highest rate hike in 22 years Fast facts The cryptocurrency market joined the selloff, losing over […]

Pakistan mulls crypto future; Bitcoin’s Fed boost

Pakistan forms subcommittees to consider the future of crypto. Meanwhile, the Fed Rate hike sees Bitcoin flirt with US$40K.

Kazakhstan orders Bitcoin miners to file status reports

Kazakhstan is mandating that cryptocurrency miners file regular status reports in a new ministerial order, as the Central Asian nation attempts to gain a stronger grip on the sector. See related article: Ex-Kazakh president’s brother busted for illegal crypto mining Fast facts Crypto miners must submit information including locations of mining facilities, IP addresses, power […]

Bitcoin flirts with US$40K as Fed stamps highest rate hike in 22 years

Total cryptocurrency market capitalization rose by 5.4% as the U.S. Federal Reserve announced it is raising interest rates by 50 basis points, the sharpest since 2000. See related article: Has Bitcoin become a victim of its own success? Fast facts The increase creates a target range of between 0.75% and 1% following a 25 basis […]

Bitcoin’s role in a recession; Virtual NFT vacations

KakaoBank reviews a partnership with a local crypto exchange. Meanwhile, an Indian travel company launches NFTs of travel landmarks.

Has Bitcoin become a victim of its own success?

Except for a bout of recession in March 2020, Bitcoin has been fairly resilient to the vagaries of global financial crisis. But with murmurs of another recession gaining steam, Forkast examines the cryptocurrency’s relevance as a safe haven.

MicroStrategy posts Q1 revenue loss amid falling Bitcoin price

MicroStrategy Inc., the world’s largest corporate holder of Bitcoin, reported a total revenue of US$119.3 million in Q1, a 2.9% year-over-year decrease. See related article: Terra’s US$10 billion Bitcoin Bet Sends LUNA to Record High Fast facts As of March 31, MicroStrategy’s 129,218 BTC under management had a carrying value of US$2.896 billion and a […]

Bitcoin lobbyists rebut ‘misconceptions’ over environmental impact

Signed by MicroStrategy’s Michael Saylor, Castle Island Ventures’ Nic Carter and Block’s Jack Dorsey, the Bitcoin Mining Council’s (BMC) letter to the Environmental Protection Agency (EPA) sought to respond to legislators’ “serious concerns.” See related article: Almost 60% of Bitcoin mining now on sustainable energy: BMC Fast facts BMC’s letter was written in response to […]

Perpetrator of South Korea’s ‘Bitcoin-gate’ untraceable

A loophole in South Korea’s recent ‘Travel Rule’ means the North Korean hacker behind the stunning espionage saga involving Bitcoin may evade authorities, Forkast learns.

Goldman Sachs offers first Bitcoin-backed loan

Goldman Sachs Group Inc. offered its first Bitcoin-backed loan, setting another milestone in Wall Street’s cryptocurrency adoption, Bloomberg reported on Friday. See related article: Crypto milestone on Wall St.: Goldman Sachs makes OTC Bitcoin trade  Fast facts The cash loan’s Bitcoin collateral was owned by the borrower, according to the Bloomberg report. The banking giant […]

South Korean crypto CEO, soldier, sold military secrets to North Korea for Bitcoin

The Seoul Central District Prosecutor’s Office has indicted a local executive from a cryptocurrency investment firm and an active-duty military officer for violating the National Security Act by leaking military secrets to a North Korean hacker in exchange for Bitcoin and other cryptocurrencies, according to the prosecutor’s investigation report shared with Forkast. See related article: […]

Bitcoin mining difficulty hits new high in latest adjustment

Bitcoin mining difficulty reached yet another all-time high on Wednesday, logging a 5.56% increase from the last adjustment two weeks ago. See related article: Almost 60% of Bitcoin mining now on sustainable energy: BMC Fast facts The mining difficulty level is now at 29.79 trillion at block height 733,824, after it saw a drop of […]

Bitcoin officially legal tender in Central African Republic

The Central African Republic (CAR) became the second country in the world — and the first in Africa — to adopt Bitcoin as legal tender on Wednesday. See related article: What does El Salvador’s new Bitcoin law mean for crypto markets? Fast facts President Faustin-Archange Touadera on Wednesday approved the bill regulating cryptocurrencies, which passed […]

Almost 60% of Bitcoin mining now on sustainable energy: BMC

The Bitcoin Mining Council, a voluntary forum of cryptocurrency mining companies supported by Michael Saylor’s MicroStrategy Inc., said its latest quarterly survey showed the global Bitcoin mining industry is relying more on electricity from sustainable sources.  See related article: Can Ethereum’s proof-of-stake transition save the planet? Fast facts The global Bitcoin mining industry had a […]

Bitcoin, stocks fall as US dollar hits two-year high; Doge concedes top 10

Crypto and stock markets tumbled as the U.S. dollar rallied to its highest point since March 2020 amid concerns of looming interest rate hikes at the U.S. Federal Reserve. See related article: Is Bitcoin really a hedge against inflation? Fast facts The U.S. stock market fell with Nasdaq dropping by 4% on Tuesday over concerns […]

Fidelity allows retirement investments in Bitcoin

Fidelity, one of the largest providers of 401(k) retirement plans in the U.S., is allowing participants to invest a piece of their retirement portfolio into Bitcoin, provided the employers allow it. See related article: Nexo and Fidelity Digital Assets expand institutional lending services Fast facts Fidelity introduced a digital assets account to hold Bitcoin, integrating […]

Grayscale fancies SEC green light for Bitcoin spot ETF

The cryptocurrency investment firm has stepped up its lobbying efforts with the U.S. regulator following its recent nod to a Bitcoin futures ETF. See related story: SEC comes around on Bitcoin ETFs Fast facts Grayscale’s lawyers have written to the Securities and Exchange Commission saying that its application for a Bitcoin spot exchange-traded fund (ETF) […]

Experts cut Bitcoin’s 2022 price outlook to slightly less bullish: report

A panel of 35 crypto professionals have grown collectively less confident on the year-end target price for Bitcoin, although they expect the dominant cryptocurrency to end significantly higher than current levels and even set a new all-time high, according to a report by Finder. See related article: Bitcoin crosses $47,000 mark as crypto surges in […]

Bitcoin and Ethereum spot ETFs landing in Australia next week

Australia’s mass retail appetite for cryptocurrency is about to be tested as two Bitcoin and one Ethereum spot exchange-traded funds (ETFs) have been approved for listing. See related article: New Australian ETF grants exposure to Bitcoin mining sector Fast facts All three ETFs are set to go live on Cboe (formally Chi-X) Exchange on April […]

Bitcoin mining difficulty drops amid market turmoil

Bitcoin miners saw a 1.26% drop in mining difficulty on Thursday, the third time this year, while the price fell to less than US$40,000. See related article: Cryptos slump over inflation, Shanghai lockdown and war concerns Fast facts The mining difficulty level is now at 28.23 trillion at block height 731,808, after it saw an […]

Bitcoin follows blue chips south amid market turmoil

Top blockchain and crypto news: Market contagion hits crypto. Ethereum developer pays price for bad Korea move. China whacks more crypto miners.