Chinese authorities recently dismantled a sophisticated underground banking operation in Sichuan province that conducted foreign exchange transactions using the cryptocurrency USDT (Tether). The illegal operation reportedly handled transactions valued at over 13.8 billion yuan (approximately $1.9 billion USD). The Chengdu police, who announced the crackdown through state media, identified the...

El Salvador has once again captured global headlines by announcing its ownership of 5,750 bitcoins (BTC), valued at approximately $353 million according to current market prices. This disclosure followed the launch of a tracking website developed in collaboration with mempool.space by the National Bitcoin Office, aimed at providing transparency regarding...

Wisconsin has become the first U.S. state government to purchase shares in a Bitcoin spot ETF, specifically the BlackRock iShares Bitcoin Trust (IBIT), acquiring 94,562 shares valued at nearly $100 million. This purchase coincides with a 1% increase in Bitcoin’s price, currently trading at $61,957, despite a recent 1.7% decrease...

Hong Kong’s Bitcoin and Ethereum spot ETFs experienced a significant withdrawal of funds on Monday, totaling over $39 million. This marked the first comprehensive outflow of funds since the funds’ listings. Hong Kong Bitcoin Spot ETF Sees $32.7 Million Outflow According to data from Farside Investors, three Bitcoin spot ETFs...

The Biden administration has ordered a Chinese-backed cryptocurrency mining company to sell land near a U.S. nuclear missile base following an investigation by a government agency. This directive comes amidst a series of tough policies on China aimed at protecting U.S. national security. President Joe Biden issued the order on...

Jack Dorsey, the former CEO of Twitter and a current supporter and founder of multiple cryptocurrency projects, has made a bold prediction that Bitcoin (BTC) could reach $1 million by the year 2030. Speaking in an interview with Pirate Wires, Dorsey was asked about his forecast for Bitcoin’s price, to...

Coinbase, one of the largest cryptocurrency exchanges in the U.S., recently experienced a widespread system outage that affected crypto transactions for its users. The issue was first reported on Coinbase’s status website, which noted that “some users may encounter failed transactions when sending cryptocurrencies or withdrawing fiat currencies.” During the...

Chinese authorities recently dismantled a covert banking network engaging in unauthorized foreign exchange transactions using cryptocurrencies, amounting to approximately 2.95 billion RMB ($429 million USD). This illicit operation primarily converted Chinese yuan into Korean won, circumventing established currency exchange regulations. The crackdown occurred in Jilin Province, where police arrested six...

May 23, 2024, marks a pivotal date for global Ethereum (ETH) investors as the U.S. Securities and Exchange Commission (SEC) is set to announce its decision on the VanEck spot Ethereum exchange-traded fund (ETF) application. The outcome of this decision could have significant ramifications not only for VanEck but also...

Recent disclosures reveal significant institutional investments in Bitcoin ETFs, emphasizing the growing confidence major financial entities are placing in cryptocurrency as a viable asset class. Both Rothschild Investment Corporation and U.S. Bancorp have made notable purchases in Bitcoin-related ETFs, showcasing the expanding interest from traditional financial institutions in the crypto...