On Thursday, the Texas House of Representatives took a significant step toward integrating cryptocurrency into state financial strategy by introducing a bill aimed at establishing a strategic Bitcoin reserve. Sponsored by Republican state Representative Giovanni Capriglione, the proposed legislation seeks to allow the state to accept taxes, fees, and donations in Bitcoin, with the intention […]
The locked-token sale saw participation from more than 40 companies.
“I feel like this is turning into ‘Digital Currency for Dummies,‘” Jon Stewart said to the billionaire during an interview on his weekly podcast.
Instead of holding physical money, crypto wallets store private keys — digital codes that give you access to your cryptocurrencies.
In likely his last committee hearing before leaving office in January, the Ohio senator suggested a looser approach to digital assets could only benefit the “corporate elite.”
The union’s adoption was facilitated by a “get off zero” donation and partnership with Proof of Workforce.
As President-elect Donald Trump approaches his inauguration on January 20, the cryptocurrency market has experienced a significant surge, with Bitcoin reaching an all-time high of $104,000 on December 5. This increase, nearly 50% since Trump’s election, has sparked expectations of a new era for crypto regulations in the United States. Sources close to Trump indicate […]
On Tuesday, Ripple CEO Brad Garlinghouse revealed that the New York State Department of Financial Services (NYSDFS) has granted final approval for the firm’s inaugural stablecoin, RLUSD. Ripple Set To Enter Stablecoin Market With the release of RLUSD, Ripple hopes to provide a reliable option for clients interested in digital currencies while limiting the volatility […]
The company’s board opposed the resolution, citing Bitcoin’s purported volatility as a negative factor.
President-elect Donald Trump’s proposal to establish a national Bitcoin reserve has ignited a wave of criticism from economic experts, including former Treasury Secretary Larry Summers. Summers, who managed the US national gold reserve during Bill Clinton’s administration, described the idea as “crazy” and lacking a clear purpose in a recent interview. Bitcoin Reserve Proposal As […]
The broader crypto market experienced a major crash on December 9. While the Bitcoin price dropped from $101,109 to as low as $94,150, marking a -7% decline, the altcoin market suffered significantly more severe losses. Ethereum fell by as much as -12% at one point, XRP by -22%, Solana by -15%, Cardano by -23%, Dogecoin by -19%, and Shiba Inu by -25%. According to Coinglass data, more than 562,000 traders were liquidated in the past 24 hours, and total liquidations reached $1.7 billion. The largest single liquidation order took place on Binance in the ETHUSDT pair, valued at $19.69 million. Of the $1.7 billion in total liquidations, $1.55 billion involved long positions. Notably, Bitcoin’s leverage flush was relatively modest compared to that of altcoins, with $143 million in BTC longs liquidated. By contrast, ETH saw $219 million in liquidations, SOL $57 million, DOGE $86 million, XRP $53 million, and ADA $22 million. Across the entire crypto market, this represented the largest leverage flush since April 2021, when a record $10 billion in crypto futures liquidations occurred in a single day. This surpassed the previous record of $5.77 billion. Related Reading: November Crypto Performance: Memecoins Up 95%, ADA, SOL, And DOT Follow With Strong Gains Following the flush out, Bitcoin and most altcoins staged a sharp upward recovery, although they have yet to return to their pre-crash levels. Over the past 24 hours, BTC remained down by -2.4%, ETH by -4.8%, XRP by -9.6%, SOL by -6.4%, and DOGE by -8.4%. What Caused The Crypto Market Crash? According to crypto analyst ltrd (@ltrd_), the underlying dynamic began with increased selling pressure on Coinbase, where traders started selling aggressively almost an hour before the major cascade. Although the ultimate plunge was triggered by a chain reaction of liquidations, this prolonged selling in the spot markets was critical in pushing prices into zones where overleveraged traders had little choice but to unwind. Overheated funding fees and rising open interest levels meant that once the initial cracks appeared, heavily leveraged positions had no chance to escape. “How can we tell that the market was overheated? It’s simple—the Funding Fee plus the increase in Open Interest. These two factors are drivers of the current market and indicate that people are overleveraged,” ltrd explained. When the market finally broke down, its effects were uneven. Bitcoin displayed characteristics distinct from other instruments, and Ethereum showed encouraging signs of accumulation on the way down, hinting that a major buyer could have been taking advantage of the opportunity. Yet the truly astonishing developments occurred with XRP on Coinbase, where, as ltrd put it, “You can see something crazy—the market impacts for XRP on Coinbase are mind-boggling. Something absolutely strange happened. On a large, relatively mature market, we witnessed a cascade of big sell orders that caused the market to drop by over 5%. We don’t know exactly what happened, but it’s certainly unusual.” Ltrd speculated that these enormous and abnormal sell orders may have come from a significant player forced to liquidate at any price. Related Reading: Trump’s Crypto Czar David Sacks Is Super Bullish For Solana: Here’s Why “It might be worth monitoring this situation over the next few days. Perhaps a major player was forced to sell as if there were no tomorrow,” he mused. The consequence of such an event, even in supposedly deeper markets, was a swift crash that spilled over into perpetual swaps trading elsewhere, triggering further liquidations. According to ltrd, “When something like this happens, it’s typically a cascade of unintentional orders. Market makers absorb this selling pressure and hedge it, causing signal propagation across the exchanges.” Even large-cap altcoins like XRP, which have market caps on par with major US companies, still face liquidity constraints that become glaringly apparent under stress. “Relative to these market caps, the liquidity in the market is still poor,” he noted, explaining how this contributes to the observed volatility and the dramatic nature of such events. As prices eventually stabilized and began to bounce from their lowest points, ltrd highlighted how this pattern is common in overheated markets: “The next thing you always see in a hot market is a quick price reversal from the lowest point. There are a huge number of liquidations, limited liquidity, and still many players in profit who want to buy the dip. Let’s see who comes out as the winner.” Macro analyst Alex Krüger placed the entire event into a broader perspective. “Nothing’s changed. Expect prices to still go up,” he stated, while noting that future conditions, such as a pro-crypto US administration under Donald Trump, could set a more constructive backdrop for digital assets. Although Krüger cited the possibility of more leverage flushes in the coming months, he viewed these events as a normalizing force. “Today’s was a major leverage flush out. Mainly for altcoins. Very normal in hot and highly levered markets. This is how crypto baptizes newcomers and keeps crypto natives disciplined,” Krüger said, and added “Never fun to be caught long in a leverage flush out. But that’s what this is. Funding back to the base line across the board. This time alts as well. Expect a few more of this in the next few months.” At press time, Bitcoin traded at $97,401. Featured image from Shutterstock, chart from TradingView.com
In a recent interview with CNBC, Eric Trump, executive vice president of the Trump Organization and son of president-elect Donald Trump, articulated a vision for the United States to become the leading global hub for crypto. Eric Trump emphasized that a set of “sensible” regulatory guidelines could pave the way for this transformation, particularly in […]
Bitcoin was an outperformer, but still lower by 5% over the past 24 hours to just above $95,000.
The recent Bitcoin price surge, which surpassed $100,000 for the first time, is creating ripples in the long-struggling crypto lending sector, particularly through decentralized finance (DeFi) applications. According to a Bloomberg report, the speculative excitement surrounding Bitcoin has not only invigorated its trading but is also spilling over into lending platforms, signaling a potential resurgence […]
The prime minister said Czech residents would not have to report crypto transactions under $4,200 per year or pay taxes for selling digital assets held for more than three years.
Coinbase chief legal officer Paul Grewal claimed the letters provided evidence that an alleged US government attempt to debank firms “wasn’t just some crypto conspiracy theory.”
Bitcoin has recently made headlines by breaking through the $100,000 mark for the first time, a milestone that has prompted increased trading activity and strategic hedging among investors. According to a Bloomberg report, this surge has led some traders to seek protection against potential price declines, as demand for put options—contracts that allow buyers to […]
Russian President Vladimir Putin has made headlines with his recent remarks on using Bitcoin and the need for his country to reconsider its reliance on foreign currency reserves. Russian President Emphasizes Bitcoin’s Role Speaking at an investment conference in Moscow, Putin argued that the current geopolitical climate, particularly following the West’s freezing of approximately $300 […]
President-elect Donald Trump is reportedly considering appointing prominent figures with pro-crypto stances to lead the Commodity Futures Trading Commission (CFTC), an agency poised to play a pivotal role for the digital assets industry. This move aligns with Trump’s campaign promises to transform the United States into the “crypto capital of the planet” and a “Bitcoin […]
President-elect Donald Trump is set to nominate former SEC Commissioner Paul Atkins to lead the Securities and Exchange Commission (SEC), reinforcing his commitment to a crypto-friendly administration. This announcement follows the resignation of current SEC Chair Gary Gensler, whose last day in office will coincide with Trump’s inauguration on January 20. Clearer Crypto Regulations Ahead? […]
As the cryptocurrency market experiences a notable uptrend, altcoins have begun to take center stage while Bitcoin (BTC) consolidates just below its recent record high of $99,540. This shift has led to significant capital rotation toward altcoins such as Cardano (ADA) and XRP, both of which have outperformed many of the top ten cryptocurrencies over […]
Ripple Labs is on the verge of receiving approval from New York’s top crypto regulator for its new stablecoin, RLUSD. According to a Fox Business report, the New York Department of Financial Services (NYDFS) is expected to greenlight the stablecoin, with a potential launch date set for December 4. Ripple Set To Launch RLUSD Stablecoin […]
In a major move towards successfully regulating digital assets in the country, Russian President Vladimir Putin has signed a law that creates a new legal framework for taxing Bitcoin mining and transactions, recognizing them as property and setting the stage for formal taxation. Russia’s New Bitcoin And Crypto Tax Law According to local media reports, […]
Analysts are expecting Ether and altcoins like XRP to stage a significant rally leading into Trump’s inauguration on Jan. 20, which also marks the last day of SEC Chair Gensler.
A former Binance executive has filed a whistleblower lawsuit against the cryptocurrency exchange in the UK, alleging that a colleague solicited a bribe from a customer in exchange for preferential treatment. Amrita Srivastava, a senior employee based in London, claims she was “unfairly dismissed” after raising concerns about the alleged misconduct. Srivastava’s Lawsuit Against Binance […]
Chris Giancarlo, a leading candidate to head the US Commodity Futures Trading Commission (CFTC) and author of the book “Crypto Dad,” recently addressed key aspects of President-elect Donald Trump’s ambitious plans for the crypto sector. In an interview with Fox Business, Giancarlo highlighted Trump’s vision of making the United States the global hub for cryptocurrency […]
As President-elect Donald Trump prepares to finalize his cabinet picks, Paul Atkins is reported to be a leading candidate to head the US Securities and Exchange Commission (SEC) and a new pro-crypto agenda under Trump’s new administration. According to Bloomberg sources familiar with the matter, Atkins has been interviewed by Trump’s transition team, positioning him […]
Prometheum, a firm that has garnered attention for its first-of-its-kind license to operate in crypto-based securities, finds itself at a crossroads. The firm has positioned itself within the regulatory framework established by the US Securities and Exchange Commission (SEC) under its chair, which has taken a tough stance on crypto classifications. However, with leadership changes […]
More countries are preparing crypto regulatory frameworks inspired by Europe’s upcoming MiCA regulations.
The UK’s top financial regulator, the FCA, has published a regulatory roadmap that plans to release comprehensive cryptocurrency regulations by 2026.