Potential approval of a spot Bitcoin exchange-traded fund (ETF) in the United States will trigger fundamental problems related to the original vision of Bitcoin by the anonymous creator Satoshi Nakamoto, according to one analyst. The concept of a spot Bitcoin ETF — an investment product that tracks the price of BTC by holding Bitcoin — conflicts with the idea…

Bitcoin is showing classic signs that fresh BTC price gains are near, one longtime market participant says. In a post on X (formerly Twitter) on Dec. 27, trader and popular social media commentator Matthew Hyland predicted “imminent” bullish moves. Trader on BTC price: “Seems like a move is imminent” Bitcoin may have flagged over Christmas, dipping to lows of…

Ethereum co-founder Vitalik Buterin has proposed a way to reduce the load on the Ethereum blockchain and make its proof-of-stake (PoS) consensus “considerably simpler and lighter.” On Dec. 28, Vitalik Buterin proposed a method of reducing the number of signatures that validators are required to make to keep the network running, thus reducing load. Ethereum currently supports…

Tether, the operator of the world’s largest stablecoin, the eponymous Tether, has minted another billion USDT, which is “authorized but not issued,” according to CEO Paolo Ardoino. Blockchain tracking platform Whale Alert took to X (formerly Twitter) on Dec. 25 to alert users that Tether Treasury had minted 1 billion USDT ($1 billion). Tether CEO Ardoino subsequently responded with a…

The crypto ecosystem has emerged to democratize finance, empower individuals, and promote freedom. However, governments and global financial institutions often treat public blockchains and digital assets skeptically. Governments claim to support the development of innovative technologies like blockchain, but they adopt a tough stance on crypto businesses, such as cryptocurrency exchanges. In the U.S., the Securities…

Money laundering is sometimes a source of deviation in stablecoin prices, blockchain researcher Bitrace has found in an examination of transactions with Tether. Depending on circumstances, money launderers may trade USDT at above- or below-market prices. In a translated report that Wu Blockchain published on Medium on Dec. 26, Bitrace outlined two scenarios for using stablecoins for…

The United States Securities and Exchange Commission is pushing back its decision on several Ether (ETH) exchange-traded funds (ETFs) to May 2024. The agency delayed its decision on the Hashdex Nasdaq Ethereum ETF and the Grayscale Ethereum Futures ETF. The Hashdex Ether ETF aims to hold both spot Ether and futures contracts, while Grayscale’s Ethereum Futures ETF…

Bitcoin network computing power — or mining hash rate — reached a new all-time high on Christmas day, but has put putting more pressure on miners amid a slump in profitability. On Dec. 25, Bitcoin’s hash rate reached an all-time high of 544 exahashes per second (EH/s), according to Blockchain.com. The data was confirmed by Bitinfocharts, which…

The industry of stablecoins — or cryptocurrencies like Tether and USDC — has seen massive growth over the past year, with the market value hitting new all-time highs in 2023. With stablecoins rapidly growing, global jurisdictions have been rushing to regulate the market, according to a new report. As many as 25 countries had stablecoin legislation or regulation…

Crypto exchange MEXC has been forced to hose down speculation over a recently deleted X (formerly Twitter) account under the name “MEXC_CEO” — which some had feared could be a sign of trouble at the firm. On Dec. 24, MEXC wrote a post addressing recent “confusion” over the sudden removal of the MEXC_CEO account from…