Standard Chartered is ramping up its bullish Bitcoin prediction, targeting as much as $120,000 by the end of 2024 — almost quadruple the current price — as increasingly cash-rich miners reduce sales of the token.“Increased miner profitability per BTC mined means they can sell less while maintaining cash inflows, reducing net BTC supply and pushing BTC prices higher,” Geoff Kendrick at Standard Chartered wrote Monday.Bitcoin mining is an energy-in...
Bitcoin enthusiasts appear to be shrugging off last week’s outflows from US exchange-traded funds, with the largest cryptocurrency climbing back above $70,000 again. Most digital assets were higher Monday, with Bitcoin gaining as much as 7.1% to $70,816. That’s the first time the token has been above $70,000 in more than a week. Ether was up around 6%, while Solana and Dogecoin were both more than 4% higher.Almost $900 million was pulled from tho...
Binance Holdings Ltd is hiring 1,000 people this year with many earmarked for compliance roles as the crypto exchange’s annual spending to meet regulatory requirements, including US oversight under a plea deal, tops $200 million.Chief Executive Officer Richard Teng, who is visiting the US to talk to monitors and officials, outlined the employment goals for the world’s largest crypto trading platform in an interview with Bloomberg News in New York...
It was a day that started with something of a bang: the charismatic Alex Mashinsky, former chief executive officer of bankrupt crypto lender Celsius Network under arrest and charged with fraud. In a flurry of enforcement activity, the US Department of Justice, Securities and Exchange Commission, Commodity Futures Trading Commission, and the Federal Trade Commission all filed lawsuits against both Mashinsky and Celsius itself. Allegations against ...
NEW YORK: Sam Bankman-Fried, the co-founder of FTX, told a New York court he was aware that Alameda Research hadn’t taken steps to properly hedge its risk even as he approved billions of dollars of investments before both companies collapsed last year.Assistant US Attorney Danielle Sassoon used Bankman-Fried’s past interviews and other statements to undermine his attempts to distance himself from decisions at the hedge fund, which was affiliated ...
Bhutan’s investment arm and Bitdeer Technologies Group are planning to ramp up their Bitcoin mining operation to help offset the revenue impact of an upcoming event known as the halving. The partnership between Druk Holding & Investments and Nasdaq-listed crypto mining firm Bitdeer aims to invest in boosting Bhutan’s mining capacity sixfold through the introduction of cutting-edge hardware. The planned upgrades will increase the Himalayan kin...
US Bitcoin exchange-traded funds have posted their longest run of daily net outflows since listing at the start of the year, part of a wider retreat from riskier assets in a challenging period for global markets.Investors pulled close to $1.2 billion in total from the group of 12 ETFs over the eight days through Sept. 6, data compiled by Bloomberg show.The drop comes amid a rocky period for shares and commodities on economic growth worries.Mixed ...
The Long Island, New York, man who admitted swindling hundreds of millions of dollars from investors through his EminiFX cryptocurrency and foreign-exchange platform was sentenced to nine years in prison.Eddy Alexandre, who lives in Valley Stream, was sentenced Tuesday by US District Judge John Cronan in Manhattan. Alexandre pleaded guilty in February to commodities fraud and agreed to forfeit $248.8 million he earned illegally through his Ponzi ...
Bitcoin struggled for traction after sinking the most in more than a year, part of a wider tumble in cryptocurrency markets as escalating geopolitical tension in the Middle East spurred risk aversion.The largest cryptocurrency slid 7.7% on Saturday, the biggest such retreat since March 2023. The token pared some of the drop to change hands at about $63,230 as of 11:36am in Singapore on Sunday.Most other major coins such as Ether, Solana and meme-...
Donald Trump headlined an event billed as the unveiling of a crypto platform promoted by the Republican nominee and his sons, putting the spotlight on a niche digital-asset sector with a history of controversy.The project, World Liberty Financial, will be part of the decentralized finance segment of digital assets and is supposed to help with financial security and being able to transact freely, Trump’s son Donald Jr.said in an X Spaces livestrea...
