Category: crypto

The price of Tornado Cash’s TORN token surged to a two-year high after a US federal appeals court ruled that the US Treasury Department’s sanctions on the platform were unlawful. The court determined that Tornado Cash’s immutable smart contracts cannot be sanctioned under current laws, leading to a 400% increase in the token’s value. Industry…

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Brazilian lawmaker Eros Biondini proposed legislation to create a $18.6 billion Bitcoin Sovereign Strategic Reserve (RESBit) to diversify Brazil’s Treasury assets and back their central bank digital currency. The bill aims to modernize Brazil’s financial management to compete in the global digital economy, following the success of other countries integrating blockchain technology.

Iran’s Central Bank is launching its own digital currency, the Digital Rial, to modernize its banking infrastructure and improve financial operations. The currency will leverage the Shetab payment network for faster transactions and aims to enhance efficiency domestically and internationally. This initiative also aims to strengthen Iran’s economic resilience and integrate its financial systems with…

The New York Stock Exchange has filed to list Bitwise’s Bitcoin and Ethereum mixed exchange-traded product (ETP) ETF. This ETP uses market cap weighting to provide investors with balanced and simplified exposure to Bitcoin and Ethereum.

Bitcoin may drop below $88,000 before reaching $100,000, according to Glassnode. The market is experiencing price discovery, with Long-Term Holders realizing record profits and selling coins acquired recently. A consolidation phase may be needed to absorb selling pressure. The Sell-Side Risk Ratio indicates intensified profit-taking, but demand remains strong.

Binance founder Changpeng Zhao is concerned about the hype surrounding memecoins and urges developers to focus on creating utility-driven tokens. He believes most memecoins lack real-world value and rely on social media trends. Despite growing popularity and institutional interest, Zhao advocates for the development of blockchain applications with tangible utility.

The first-ever Dogecoin ETP has been introduced in the Nordics to cater to the increasing institutional interest in digital assets. This move signifies the growing popularity of Dogecoin in the region.

Starknet has launched a staking program for STRK tokens, allowing token holders to secure the network and earn rewards. Holders with at least 20,000 STRK can stake directly, while others can delegate to validators. Bitwise has become an early validator for the program, citing Starknet’s innovative technology and commitment to the Ethereum community.

Pantera Capital’s Bitcoin Fund has grown over 1,000x since its launch in 2013, now valued at $97,392 per Bitcoin. Pantera CEO Dan Morehead predicts Bitcoin’s market cap could reach $15 trillion, with the price potentially hitting $740,000 per coin. Morehead highlights Bitcoin’s potential to reshape the global economy through financial inclusion and blockchain technology.