Bitcoin sank for a fourth consecutive trading session, part of a wider crypto selloff that contrasts with recent record highs in global stocks.The digital asset fell as much as 8.1% to hit the lowest since February, changing hands at about $54,190 as of 12:21 p.m. Friday in Singapore. Smaller coins like Ether, XRP and Cardano nursed steeper losses in some cases exceeding 10%.Crypto speculators currently face a range of challenges, including wanin...
A shift by India to a less onerous crypto tax regime may be two years away, according to one of the nation’s key digital-asset exchanges.Indian officials last year imposed a 1% levy — known as TDS — on crypto transactions, causing trading volumes at exchanges to crash as market makers and high-frequency investors pulled back due to higher costs. One of WazirX’s main competitors has said the tax contributed to a 97% collapse in volumes at domestic...
Bitcoin's price soared to a new record, reaching over $70,000 for the first time amid a frenzy in the crypto market. The spike reflects escalating investor interest in newly launched US spot exchange-traded crypto products and the anticipation of declining global interest rates.Why it mattersThis surge marks a significant recovery from the crypto winter triggered by the collapse of the FTX exchange, renewing faith in digital currencies.The rally ...
The US has seen significant growth in industrial-scale Bitcoin mining facilities, with at least 137 such operations currently across the country. This surge is driven by the increasing acceptance of cryptocurrencies and potential for substantial financial gains. As demand for Bitcoin rises, more investors are establishing sophisticated mining facilities with powerful computing hardware. However, this growth raises environmental concerns due to su...
Bitcoin hit its highest level in a year amid renewed fervor for digital assets despite a slew of challenges for the industry.The original digital currency crossed above $31,013, its 2023 peak, to reach its highest level since June 2022, Bloomberg data show. The surge brought Bitcoin to as high as $31,410 before the gain was pared. The token is up by almost 90% since the start of the year, though still more than 50% below an all-time high of almos...
Bitcoin reversed an earlier gain of as much as 10% after BlackRock said that its application for an exchange-traded fund that invests directly in the cryptocurrency is still under review.“The iShares Spot Bitcoin ETF application is still under review by the SEC,” a spokesperson said. Bitcoin was up about 3% to $28,000 as of 10:12am in New York on Monday after briefly jumping to $30,000. Speculation swirled on social media that BlackRock, which in...
Bitcoin extended a rally fueled by expectations of fresh demand from exchange-traded funds, reaching the highest price since May last year.The largest digital asset rose as much as 11.5% to top $35,000 and was trading at $34,800 as of 10:31 a.m. in Singapore on Tuesday, taking its year-to-date rebound from 2022’s digital-asset rout to more than 100%.The possible approval in coming weeks of the first US spot Bitcoin ETFs is stoking speculative ard...
Bitcoin has now more doubled in value this year in a surprising resurgence from a tumultuous 2022 that had some skeptics predicting the demise of digital assets. The largest cryptocurrencyby market value rallied for a third day, pushing the price back to around $35,000, the highest level in about 18 months. Bitcoin tumbled 64% last year amid industry scandals and bankruptcies.It reached a record of almost $69,000 in late 2021.Growing expectations...
A UK judge has declared that Australian computer scientist Craig Wright is not "Satoshi Nakamoto," the enigmatic creator of Bitcoin, rejecting long-standing claims by Wright. This landmark decision came after the Crypto Open Patent Alliance (COPA) challenged Wright's assertions to prevent him from suing Bitcoin developers.Judge Mellor's pronouncement left no room for doubt: "Dr Wright is not the author of the Bitcoin white paper," he said firmly....
Bitcoin exceeded $62,000 after Donald Trump’s defiant response to an assassination attempt spurred speculation that the pro-crypto former president’s chances of winning reelection have climbed.The largest digital asset rose as much as 4.5% on Monday and traded at $62,609 as of 5:15 a.m. in London, the highest level in more than a week. Smaller tokens also rose, with second-ranked Ether up about 4%.Trump said he was shot in the right ear after gun...
