Author: Coindesk

Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. In November 2023, CoinDesk was acquired by the Bullish group, owner of Bullish, a regulated, digital assets exchange. The Bullish group is majority-owned by Block.one; both companies have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence.…

Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. In November 2023, CoinDesk was acquired by the Bullish group, owner of Bullish, a regulated, digital assets exchange. The Bullish group is majority-owned by Block.one; both companies have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence.…

The new purchases was made at an average price of $60,408 per token, Executive Chairman Michael Saylor said in an X post on Friday morning, boosting the company’s holdings to 244,800 BTC. MicroStrategy’s cost basis for those holdings is $9.45 billion, or an average price of $38,585 per bitcoin. At the current price just under $58,000 the stack is now worth about $14 billion. Read the full article here

The case was brought by Fabrizio D’Aloia, who said he was the victim of a cryptocurrency scam, and relates mainly to crypto exchange Bitkub, named as one of seven defendants including two unidentified people and Binance, the largest crypto exchange by volume traded. The case against Binance was settled, according to the filing. Read the full article here

“Progress on relaxing regulations – particularly the repeal of SAB 121, which imposes stringent accounting rules on banks’ digital asset holdings – will continue in 2025 no matter who is in the White House,” wrote Geoff Kendrick, global head of digital assets research at Standard Chartered, adding that progress would just take longer under a Harris presidency. Read the full article here

The banks will need to enable their customers to “open and top up digital ruble accounts, make transfers, and accept digital rubles in their infrastructure,” the central bank said Thursday. After that, “it is planned to launch the widespread use of the digital national currency. It is important that it is available to citizens and businesses and, if desired, they can freely use it on an equal basis with cash and non-cash funds.” Read the full article here

Bitcoin rose above $58,000 on the back of a rally in U.S. technology stocks. U.S. inflation data on Wednesday seemed to solidify the prospect of a 25 basis-point interest-rate cut by the Fed this month, following which Nvidia, Microsoft, Google and Apple all registered gains. BTC is currently priced just above $58,000, 2.4% higher in the last 24 hours, while the broader crypto market has risen about 2.2%, as measured by the CoinDesk 20 Index. However, bitcoin ETFs’ inflow streak was halted after just two days, registering outflows of $43 million on Wednesday. Read the full article here

“Over the long-run, miners deal with rising difficulty levels by upgrading the equipment and/or pursuing other cost rationalization measures (e.g. seeking cheaper electricity cost, etc). Historically, when you average it out, BTC price showed no meaningful correlation with this particular variable,” Chung said. Read the full article here

The SEC sued Kraken in the Northern District of California last November asking the court to permanently enjoin the exchange from further securities violations, seeking disgorgement of its “ill-gotten gains” and other civil penalties. The regulator listed ADA, ALGO, ATOM, FIL, FLOW, ICP, MANA, MATIC, NEAR, OMG, and the SOL tokens as the 11 unregistered securities. Read the full article here

“21Shares is thrilled to be working with Anchorage Digital Bank and BitGo to diversify our custodians for our US spot ETPs,” said Andres Valencia, head of investment management at 21Shares, in a statement. “We consider our custody partners to be crucial to the risk management and operational excellence of our product lineup, and diversification adds to the safety and security of our offering.” Read the full article here