Bitcoin’s surge to a record high of over $107,000 has boosted the US government’s efforts to reimburse victims of a business email compromise (BEC) scheme. On Dec. 16, the US Department of Justice (DOJ) announced the recovery of 32.68 BTC, valued at over $3.5 million, stolen in a December 2023 cyber fraud case. The recovery […]
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US President-elect Donald Trump is reportedly considering an Executive Order to establish a Strategic Bitcoin Reserve (SBR), according to Satoshi Act Fund founder Dennis Porter. On Dec. 15, Porter shared on social media platform X (formerly Twitter) that Trump plans to use the Treasury’s Exchange Stabilization Fund (ESF) to implement this strategy after his inauguration. […]
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Anthony Scaramucci, Founder and Managing Partner at SkyBridge Capital, recently shared his insights on Bitcoin (BTC) and the broader cryptocurrency market. Speaking at the Bitcoin MENA 2024 Conference, Scaramucci predicted that China would likely establish a Bitcoin strategic reserve in 2025. Scaramucci Predicts China Will Follow the US Bitcoin Strategy The former White House Communications director predicted that China would return to BTC mining after years of a blanket ban. In addition, the American stated that China will also likely create a BTC strategic reserve next year, following in the footsteps of the US. Related Reading: Bitcoin Exchange Reserves Plunge To Multi-Year Lows: Will BTC Gain From Supply Crunch? Scaramucci attributed this potential shift to the pro-crypto stance of the US, driven by the victory of Republican presidential candidate Donald Trump in the November election. He believes the US’ new regulatory framework for digital assets will pressure other nations to establish similar frameworks. He added that China may have its own Bitcoin strategic reserve by next year. Further, the Asian giant might reconsider the ban on Bitcoin mining and use it as a tool to mine and accumulate more BTC. Scaramucci said: China, there is no way, and I’ll bet money on this, that if the US is moving toward a strategic Bitcoin reserve, that the Chinese are not going to participate. It is worth highlighting that last month, Scaramucci stated that BTC will trade as high as $176,000 in the next two years. He pointed toward a strong demand for BTC and its limited supply of 21 million as major driving factors that could increase the asset’s price in the coming years. Countries Looking To Create BTC Strategic Reserve To recall, cryptocurrency was one of the major themes of President-elect Trump’s election campaign. Since Trump’s victory, speculations surrounding a national BTC strategic reserve have found increasing support from people across different domains. Related Reading: Bitcoin On Track To Replace Gold In 10 Years, Trading Firm Predicts While countries like El Salvador already maintain national Bitcoin reserves, the US creating a similar reserve could have significant global implications. Experts predict that such a move could propel Bitcoin’s price to over $1 million. The US isn’t the only country considering a national Bitcoin reserve. In Brazil, federal deputy Eros Biondini recently introduced legislation establishing a Sovereign Strategic Bitcoin Reserve to diversify the country’s financial assets. Similarly, Russian State Duma Deputy Anton Tkachev has proposed the creation of a Strategic Bitcoin Reserve. This initiative aims to reduce Russia’s reliance on foreign currencies like the USD and yuan for international trade and help mitigate the impact of international sanctions. Establishing a Bitcoin strategic reserve by any major country could trigger a domino effect, prompting others to follow suit. This trend has already been observed among corporations, such as Metaplanet and Hut 8, that have adopted MicroStrategy’s approach of adding Bitcoin to their balance sheets. BTC trades at $95,344 at press time, down 1.8% in the past 24 hours. Featured image from Unsplash, chart from Tradingview.com
Bitcoin has achieved an unprecedented milestone, surpassing the $100,000 mark for the first time in its history. Data from CryptoSlate showed that the top digital asset peaked at $103,465.81 on Dec. 5, showcasing its most remarkable performance since its inception. This surge propelled Bitcoin’s market capitalization beyond $2 trillion, marking a pivotal moment in its […]
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While many crypto community members celebrated Donald Trump’s reelection, some may have felt differently.
The United States has never been the largest market for Bitcoin or cryptocurrencies in terms of trading volume. Offshore exchanges, particularly in Asia, have consistently dominated global trading activity, with platforms like Binance and Huobi driving liquidity and volatility. However, the US has always held a unique position as the most influential force in the […]
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Low-income households in the United States are turning crypto profits into opportunities for homeownership, as revealed by a Nov. 26 report from the Office of Financial Research (OFR), a US Treasury Department research arm. Samuel Hughes, Francisco Ilabaca, Jacob Lockwood, and Kevin Zhao conducted the study based on tax data. It offers a crucial look […]
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Bitcoin Magazine CEO David Bailey has suggested that President-elect Donald Trump could elevate Bitcoin to the status of a “strategic reserve asset” without requiring approval from Congress. In a Nov. 15 statement on X, Bailey suggested that the President could use executive authority to initiate a national Bitcoin reserve. According to unnamed experts he cited, […]
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The Digital Chamber of Commerce has urged the US Office of Government Ethics to reconsider prohibiting federal employees from holding crypto. In a Nov. 13 letter to Acting Director Shelley Finlayson, the blockchain advocacy group proposed that the Ethics Office allow federal employees to own a small, limited amount of digital assets. Under current regulations […]
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Daren Li oversaw the transfer of more than $73 million away from crypto scam victims to wallets he and his co-conspirators controlled.
US Senator Cynthia Lummis remains hopeful that her proposal to establish a national Bitcoin reserve could pass within the first 100 days of Donald Trump’s second presidential term. On Nov. 11, Lummis shared on X that bipartisan backing could propel the bill forward if public support strengthens. She argued that this legislation would improve the […]
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Digital asset funds saw inflows of $1.2 billion last week, marking a fifth straight week of positive momentum, according to crypto asset manager CoinShares. The increase pushed year-to-date inflows to an unprecedented $31.3 billion, bringing global assets under management to a record $116 billion. CoinShares’ head of research, James Butterfill, highlighted that trading volumes for […]
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As bitcoin climbs above $82,000, U.S. crypto equities are soaring in pre-market trading, with Semler Scientific leading with a 25% gain.
Venture capital firm Andreessen Horowitz (a16z) views Donald Trump‘s reelection as a significant catalyst for the US crypto industry. In a Nov. 11 post, firm leaders Miles Jennings, Brian Quintenz, and Michele Korver shared their optimism that this political shift could bolster bipartisan efforts and open doors for US-led crypto innovation on a global scale. […]
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A motion filed earlier this week rejected several of Kraken’s defenses and complained that the exchange was "trying to re-litigate the same issues repeatedly."
A Republican-led Senate is poised to pass clearer crypto regulations, signaling a shift toward industry-friendly policies in the US.
The 2024 United States elections will be held on Nov. 5, as digital asset policy becomes a growing concern among pro-crypto voters.
Asia has surpassed North America as the leading hub for crypto developers, according to a report from Electric Capital. Maria Shen, partner at Electric Capital, pointed out that Asia has steadily increased its share of global crypto developers, climbing from 13% to 32% since 2015. In contrast, North America’s share dropped from 44% to 25% […]
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The U.S. presidential election is an important short-term catalyst for Coinbase and the wider industry, and could lead to more regulatory clarity, analysts said.
While support for the crypto industry has been growing in Washington, it still has a fair number of detractors.
Coinbase and Visa have partnered to offer customers with eligible Visa debit cards the ability to instantly deposit, withdraw, and buy crypto.
In recent years, crimes and crypto have grown inexorably entwined. Crypto crimes rise as its popularity and use cases grow, therefore putting at risk traders and companies alike. TrendMicro claims that even while the value of crypto transactions received by illegal addresses has reduced to an estimated $24.2 billion, this figure will still develop as […]
Need to know what happened in crypto today? Here is the latest news on daily trends and events impacting Bitcoin price, blockchain, DeFi, NFTs, Web3 and crypto regulation.
The United States and Nigeria have formed a Bilateral Liaison Group to counter cryptocurrency-related crimes and illicit finance. An Oct. 23 announcement reaffirmed the United States’ dedication to working closely with Nigeria. The US Department of Justice pledged to support Nigeria in strengthening its capabilities for investigating and prosecuting cybercrimes. While the two nations have […]
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A United States appeals court said a federal court was right to toss Ali Sedaghatpour’s lawsuit claiming that his insurer, Lemonade Insurance, should cover him for a crypto scam loss.
Representative French Hill says two crypto-regulating bills in the US might make some progress on Capitol Hill before the current Congress disbands.
Alexander Nikolas Gierczyk of California says the hedge fund he sold his FTX bankruptcy claim to isn't paying out what it promised.
The DOJ and the SEC say they have “strong interest" in the case and argue that the class-action suit should proceed.
The U.S. data, due Tuesday, has triggered 10% price drops in the first week of the past three months, 10x Research said.
As the US elections approach, crypto policy betting surges on Polymarket. From traditional political predictions to quirky, unexpected wagers, users are placing bets on what’s to come.