Category: crypto

Bitcoin’s current valuation is similar to levels before past US elections, indicating potential for growth post-election. Historically, Bitcoin has surged after elections, with 2024 valuation at $67,000. Recent demand for Bitcoin has increased globally, but US investors remain cautious. Profit-taking and reduced leverage have led to a decline in open interest in Bitcoin futures markets,…

Altcoins are gaining attention from traders as the US presidential election nears its end, with speculation on market impact based on the outcome. While Bitcoin remains steady, altcoins like Dogecoin and Solana are experiencing increased volatility. The possibility of a Harris win is seen as a threat to altcoins, while a Trump win could lead…

Polymarket saw a surge in activity on Election Day, with open interest reaching $463 million. This marked a 40% increase from the previous week and highlighted the platform’s growing role in political dialogue. Despite its ties to crypto, Polymarket is gaining traction among mainstream audiences and is expected to continue its momentum.

Binance and founder Changpeng Zhao are seeking the dismissal of a lawsuit filed by the SEC, arguing that crypto is not inherently a security. They dispute the SEC’s expanded lawsuit and classification of blind sales of BNB. Binance also wants specific relief requests removed and rejects disgorgement and barring Zhao from the securities market.

Paxos has partnered with major industry players to launch the Global Dollar Network, aiming to accelerate stablecoin adoption worldwide. The initiative includes Anchorage Digital, Bullish, Galaxy Digital, Kraken, Nuvei, and Robinhood, with plans to welcome more partners. The network will provide a reliable stablecoin, USDG, backed by a partnership structure to enhance crypto and financial…

The crypto industry is playing a major role in the 2024 US Senate races, supporting pro-cryptocurrency candidates to influence legislative decisions. Trump and Harris have differing views on crypto. Stand With Crypto PAC is tracking politicians’ positions. Races in Ohio, Montana, Pennsylvania, Arizona, Massachusetts, Michigan, and Nevada are key battlegrounds.

Swift, in collaboration with UBS Asset Management and Chainlink, completed a pilot program to enhance tokenized fund settlement and redemption using fiat currency. The initiative aims to automate processes, reduce costs, and increase transparency for global financial institutions. This aligns with Singapore’s MAS Project Guardian to explore digital finance innovations.

Mt. Gox, the defunct crypto exchange, transferred over $2 billion worth of Bitcoin to two new wallets on Nov. 4. Despite the transfers, Mt. Gox still holds about $3.04 billion in Bitcoin. The exchange has been active recently, moving a total of $2.22 billion into various wallets, including some connected to crypto exchanges. Mt. Gox…

Despite election uncertainty, US markets and Bitcoin are expected to rally by the end of the year. Fundstrat’s Tom Lee is optimistic about the market, while Bernstein predicts Bitcoin’s growth to $200,000 by 2025 despite fiscal challenges.

In October, Marathon Digital and Riot Platforms, two leading Bitcoin miners, achieved their highest monthly Bitcoin production since the April halving event. Despite challenges with rising mining difficulty, Marathon produced 717 BTC and Riot produced 505 BTC. Both firms attributed the increase to technological advancements and operational efficiency.