NewsBriefs - Marathon Digital acquires $100 million in Bitcoin as other miners sell

Jul 25, 4:15 PM Cryptoslate

Marathon Digital acquires $100 million in Bitcoin as other miners sell

Marathon Digital bought $100 million worth of Bitcoin, increasing its holdings to over 20,000 BTC. The firm is now the second-largest Bitcoin-holding company after MicroStrategy. Marathon has readopted its "hold" strategy, aiming to retain all mined and purchased Bitcoin. This move contrasts with other miners who are currently selling their crypto. The company's CEO, Fried Thiel, expressed confidence in Bitcoin's long-term value as a treasury reserve asset. Marathon's actions reflect growing institutional support and favorable market trends for Bitcoin.

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• Nov 8, 11:50 AM Deutsche Bundesbank

  Germany’s central bank joins Singapore's Project Guardian to boost asset tokenization

  Germany’s Bundesbank has joined Project Guardian, Singapore's initiative to advance asset tokenization in financial markets. Deutsche Bundesbank will test an interoperable blockchain platform for tokenized and digital funds, aiming to enhance cross-border collaboration and standardization. This move aligns with Singapore's efforts to promote tokenized asset commercialization and deepen market liquidity. The collaboration is expected to leverage expertise from both countries to explore meaningful applications of asset tokenization in the financial sector.

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• Nov 7, 11:41 AM Coindesk

  SEC moves to dismiss three of Kraken's defenses in US lawsuit

  The SEC has asked a California court to dismiss three key defenses from crypto exchange Kraken in an ongoing lawsuit. The regulator rejects Kraken's claims about unclear securities laws for crypto, lack of fair notice, and the major questions doctrine. The SEC sued Kraken in November 2023 for operating as an unregistered securities platform, alleging unlawful facilitation of crypto asset securities trading since 2018. The motion aims to narrow the scope of discovery and prevent repeated litigation of the same issues.

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• Nov 7, 9:31 AM Cointelegraph

  SEC commissioner Mark Uyeda likely to become next chair under Trump

  With Donald Trump’s victory in the 2024 US presidential election, SEC Commissioner Mark Uyeda is now a top contender for SEC chair. Uyeda, known for his criticism of current chair Gary Gensler's crypto policies, advocates for a regulatory approach with less emphasis on enforcement. Although some speculated about Commissioner Hester Peirce's chances, experts suggest her appointment is unlikely. Trump is expected to prioritize rolling back the current administration's stringent crypto regulations and enforcement actions against major firms.

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• Nov 6, 6:09 PM Coindesk

  Trump wins second term as US president, signaling positive shift for crypto

  Donald Trump's victory in the US presidential election is seen as a win for crypto. Analysts expect a more permissive regulatory environment, with potential changes in SEC leadership. Bitcoin hit an all-time high post-election, with predictions of further growth. Tether may benefit from Trump's win, while Circle could face challenges. Solana and DeFi projects are expected to gain, with a broader market rally anticipated. Trump's crypto policies include creating a Bitcoin strategic reserve, banning central bank digital currency, and freeing Ross Ulbricht.

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• Nov 5, 4:15 PM Coindesk

  US election outcome could shape crypto regulation for years

  Today's US election is crucial for crypto's future. The makeup of Congress and the White House will determine potential legislation and regulation. FIT21 and a Senate Agriculture Committee bill are key legislative options. Crypto PACs have invested heavily in certain races, with $40 million spent to unseat Senator Sherrod Brown. The election's outcome will impact the timing and content of any crypto bills passed. Voters are considering various issues beyond crypto, with the industry not ranking as a top concern for most.

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• Nov 5, 3:45 PM Cointelegraph

  VanEck to launch PYTH ETN in Europe

  VanEck listed a PYTH token ETN on Euronext Amsterdam and Paris, available in 15 European countries. The ETN tracks the MarketVector Pyth Network VWAP Close Index and is fully collateralized with physical PYTH tokens. Pyth Network, a decentralized oracle protocol, has a $3.4 billion market cap. VanEck's CEO highlighted the importance of oracle networks in DeFi applications. The US presidential election may impact pending crypto ETF approvals.

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• Nov 4, 11:11 AM Coindesk

  Bitcoin likely to rally after US election regardless of winner

  Bitcoin is expected to surge past $100,000 following the US election, based on historical trends. Previous post-election rallies saw BTC gain 12,000% in 2012, 3,600% in 2016, and 478% in 2020. Despite diminishing returns, projections suggest a potential 47.8% increase to $103,500 by Q4 2025. BTC is currently undervalued compared to previous cycles, measured from either the cycle low or halving event. The crypto market may remain volatile until election results are finalized.

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• Nov 1, 4:48 PM The Block

  21Shares seeks SEC approval for spot XRP ETF

  21Shares has filed for a spot XRP ETF with the SEC, joining other firms like Canary Capital and Bitwise in pursuing XRP-based funds. This move follows recent approvals of Bitcoin and Ethereum ETFs, and attempts for Solana and Litecoin ETFs. The ongoing SEC-Ripple lawsuit over XRP's classification as a security may pose challenges for approval. The crypto industry continues to push for expanded US investor access to various crypto assets through regulated ETF products.

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• Nov 1, 11:30 AM M2 Newsroom

  M2 crypto exchange hacked for $13 million across multiple chains

  Crypto exchange M2 suffered a $13 million hack on multiple chains, including ETH, SOL, and BTC on Oct. 31. The attack, first detected by ZachXBT and Cyvers Alerts, targeted hot wallets, with stolen funds converted to ETH. M2 swiftly responded, restoring customer funds and implementing additional security measures. The exchange is cooperating with authorities and has taken full responsibility for potential losses.

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• Nov 1, 7:07 AM The Block

  ZetaChain restarts block production following six-hour downtime

  ZetaChain, an interoperability-focused Layer-1 network, experienced a six-hour outage due to a consensus failure linked to a recent update. The mainnet has resumed block production, but the testnet is now halted due to the same issue. Cross-chain transactions are delayed, and the network plans to share a post-mortem. ZetaChain aims to integrate different networks like Bitcoin, Ethereum, and Polygon, and raised $27 million in funding last year.

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• Oct 31, 3:43 PM The Block

  Blockchain Association reports $400 million in SEC enforcement costs under Gensler

  The Blockchain Association claims its members have spent $400 million on SEC enforcement actions since Gary Gensler became chair. This figure represents only a portion of the industry's costs. A survey by the association and HarrisX found that two-thirds of voters believe the SEC should wait for clearer guidelines from Congress before regulating crypto. The poll also revealed that voters are split on which political party is more likely to support crypto innovation.

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• Oct 30, 5:08 PM Coindesk

  Fortune reports Polymarket rife with wash trading

  Fortune claims prediction market Polymarket is experiencing significant wash trading, potentially up to a third of its volume. Blockchain analytics firms Chaos Labs and Inca Digital provided data supporting this assertion. The practice, illegal in traditional finance, may be motivated by airdrop farming for a potential future token. Polymarket's no-fee policy could be facilitating this activity. The news follows recent concerns about different market manipulation on the platform.

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• Oct 30, 4:41 AM Crypto Briefing

  US spot Bitcoin ETFs see massive $870 million inflow as Bitcoin nears all-time high

  US spot Bitcoin ETFs saw a record $870 million net inflow on Tuesday, coinciding with Bitcoin reaching $73,000. BlackRock's IBIT led with $643 million in inflows, its highest since March. Other ETFs also reported gains, while Grayscale's GBTC experienced $17 million in redemptions. US Bitcoin ETFs are expected to surpass Satoshi Nakamoto's estimated 1.1 million BTC holdings by December. Bitcoin traded at $72,200 at press time, up 1.8% in 24 hours and close to its all-time high.

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• Oct 29, 11:36 AM Cointelegraph

  Bhutan government sells $66 million of Bitcoin as price surpasses $71k

  Bhutan's government transferred $66.5 million worth of Bitcoin to Binance, likely for sale, as Bitcoin's price topped $71,000. The government wallet still holds about $886 million in Bitcoin, potentially creating further selling pressure. This move came after five years of mining and holding Bitcoin, coinciding with Bitcoin reaching a significant price level that often triggers volatility and profit-taking by whales.

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• Oct 29, 6:33 AM The Block

  Truth Terminal founder's X account compromised, hacker nets $600K

  A hacker exploited Truth Terminal founder Andy Ayrey's X account, promoting a scam token that briefly reached a $25 million market cap. The attacker profited over $600,000 before a sell-off crashed the token's value by 98%. Ayrey temporarily regained control, citing a possible SIM swap attack on his mobile carrier. Truth Terminal, a crypto-focused chatbot, previously gained attention for amassing over $1 million in crypto holdings and receiving a $50,000 Bitcoin donation from Marc Andreessen. Despite regaining access, the account continued to display suspicious activity.

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