NewsBriefs - Royal Government of Bhutan transfers 365 BTC to Binance amid BTC price rally

Nov 14, 2:52 PM The Block

Royal Government of Bhutan transfers 365 BTC to Binance amid BTC price rally

The Royal Government of Bhutan has transferred approximately 365 BTC, valued at $33.3 million, to a Binance deposit address as Bitcoin reaches new highs over $90,000. This movement follows a previous transfer of 929 BTC to Binance in October. Despite these transactions, Bhutan maintains a balance of over 12,206 BTC, positioning it as the fifth-largest nation-state holder of Bitcoin worldwide. Bhutan uses its hydroelectric resources to mine bitcoin, boosting its reserves while being eco-friendly.

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• Nov 23, 8:30 PM CNBC

  State Street warns Bitcoin rally may create false sense of security for investors

  State Street Global Advisors' strategist George Milling-Stanley cautioned that the recent bitcoin rally could mislead investors into feeling overly secure about their investments. Comparatively, he highlighted gold's stability and reliability, emphasizing that bitcoin, being primarily a return play, lacks the protective qualities of gold. Milling-Stanley's insights came during a period when the SPDR Gold Shares ETF, the world's largest physically backed gold ETF, marked its 20-year anniversary with significant historical growth. Meanwhile, bitcoin has seen considerable gains, reaching new highs post the November elections.

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• Nov 23, 5:57 PM The Block

  Solana ETFs could debut by 2025 as regulatory optimism grows

  The push for Solana exchange-traded funds (ETFs) in the U.S. market gained momentum as Cboe BZX filed four spot Solana ETF applications from VanEck, 21Shares, Bitwise, and Canary Capital. With a shifting regulatory landscape, driven by SEC Chair Gary Gensler's upcoming resignation and a pro-crypto administration taking office, industry leaders express growing optimism for SOL ETF approvals by 2025. Analysts cite the success of spot Bitcoin and Ethereum ETFs as a promising precedent, while Solana’s native token (SOL) has surged, nearing its all-time high, reflecting renewed investor confidence.

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• Nov 22, 8:30 PM Cointelegraph

  Solana's SOL hits new all-time high amid Bitcoin rally and memecoin frenzy

  Solana's native token, SOL, reached a new all-time high of $264.50, driven by a Bitcoin rally toward $100,000 and increased interest in memecoins. Solana's market cap remains significantly below that of Ethereum, and with over $6 billion in daily DEX trading, it holds a 45% market share. The network's total value locked has grown substantially, achieving parity with Ethereum's top six layer-2 solutions. Analysts see potential for further SOL price increases, supported by robust onchain activity and a strong bullish sentiment in the futures market.

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• Nov 22, 4:18 PM The Block

  Robinhood executive Dan Gallagher declines potential SEC chair position

  Dan Gallagher, an executive at Robinhood, has declined consideration for the chair of the US Securities and Exchange Commission (SEC), stating his commitment to Robinhood and his intent to work with the incoming administration and the new SEC chair. His decision comes amidst changes in the SEC that could significantly impact the future of crypto regulation.

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• Nov 22, 12:26 PM Blockworks

  Solana is an ‘incredible emerging asset and story,’ says Bitwise CEO

  Bitwise has registered a trust in Delaware as a preliminary step towards launching a Solana (SOL) ETF, demonstrating growing interest in spot SOL ETFs. The crypto-focused asset manager's move aligns with a more proactive engagement from the SEC towards spot SOL ETF applications, reflecting a potential shift in regulatory attitudes following SEC chair Gary Gensler's resignation. Bitwise CEO Hunter Horsley highlighted the timing of the US presidential election and a constructive regulatory environment for their filing. Despite Solana not having a regulated futures market, which was previously considered essential for spot crypto ETFs in the US, the landscape appears to be changing.

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• Nov 22, 3:19 AM Cointelegraph

  Solana sets new record high on Coinbase two years after FTX crisis

  Solana (SOL) reached a new all-time high of $262.64 on Coinbase, spurred by recent strong performance and interest in Solana-related exchange-traded funds (ETFs). This milestone comes two years after the FTX collapse, which had drastically reduced SOL's value. Notably, SOL has surged 160% since the start of 2024, with momentum further fueled by positive regulatory news and overall altcoin market performance.

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• Nov 21, 5:54 PM Cointelegraph

  BiT Global accuses Coinbase of delisting WBTC to favor its own cbBTC

  BiT Global alleges that Coinbase delisted Wrapped Bitcoin (WBTC) to push its own Bitcoin wrapper, cbBTC, thereby eliminating WBTC as a competitor. Coinbase, mentioning general review standards, announced that WBTC did not meet the criteria for continued listing and plans to suspend trading in December. In response, BiT Global criticized Coinbase for depriving investors of choice and directly competing against WBTC, which remains the most popular Bitcoin wrapper with a significant total value locked.

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• Nov 21, 11:26 AM The Block

  Sui Network experiences major outage as validators go offline

  Sui Network, a blockchain platform developed by Mysten Labs, is currently experiencing a significant outage. The network has stopped producing blocks for nearly two hours, resulting in a stalled blockchain. This outage has led to a drop in SUI token value by nearly 10% over the last 24 hours, with its price at approximately $3.42. The team is investigating the issue, and no comment has been made by Mysten Labs or the Sui Foundation.

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• Nov 20, 8:05 PM The Block

  Phantom crypto wallet climbs above WhatsApp and Instagram in free iPhone app rankings

  Phantom, a crypto wallet platform, has reached a record-high position in the iOS app store, ranking ninth among the top free iPhone apps and second among free utility apps. It has surpassed popular apps like WhatsApp and Instagram in the rankings. This growth marks a significant rise from its position at 377th just over a week ago. Phantom supports multiple blockchains including Solana, Ethereum, Bitcoin, Base, and Polygon.

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• Nov 20, 7:36 PM Cointelegraph

  MicroStrategy market cap poised to surpass Intel

  MicroStrategy has reached a market capitalization of over $100 billion and is set to exceed Intel's nearly $102 billion. The company's stock, America's most traded on November 20, has seen significant growth due to its aggressive Bitcoin acquisition strategy, including a plan to spend $42 billion on Bitcoins over three years. Recent political shifts in the US and bullish analyst projections for Bitcoin's future value also contribute to MicroStrategy's market performance.

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• Nov 20, 1:08 PM Hand-Picked

  Nasdaq-listed Hoth Therapeutics approves Bitcoin as treasury reserve asset

  Hoth Therapeutics, Inc., a biopharmaceutical company, announced its Board of Directors approved the purchase of up to $1 million in Bitcoin as a treasury reserve asset. The decision reflects the company's belief in Bitcoin's potential as an inflation-resistant store of value, in light of increasing acceptance and activity from institutional investors.

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• Nov 19, 11:29 PM Beincrypto

  Russia to prohibit crypto mining in occupied Ukraine territories

  Russian authorities will ban crypto mining in occupied Ukrainian territories starting December 2024, addressing electricity shortages exacerbated by mining activities. This restriction, intended to alleviate stress on local electricity grids, is part of broader regulatory changes impacting mining and cryptocurrency operations in Russia. The ban encompasses regions like Donetsk, Lugansk, Zaporizhia, and Kherson, and parallels similar seasonal mining suspensions in Siberia until 2031.

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• Nov 19, 6:31 PM Coindesk

  Bitcoin reaches new all-time high of $93,750 as spot ETF options launch

  Bitcoin hit a new all-time high of $93,750 as spot Bitcoin exchange-traded fund (ETF) options were launched on Nasdaq. These options have drawn significant attention, offering investors increased flexibility and the potential for high-volume exposure. Most of the trades were call options, indicating optimism for further price increases. Analysts highlighted that ETF options enhance market sophistication and attract institutional investors by offering greater flexibility.

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• Nov 19, 7:30 AM Coindesk

  Gemini launches operations in France ahead of EU's MiCA regulation implementation

  Gemini, a New York-based crypto exchange, has commenced operations in France, allowing users to deposit, trade, and store digital assets. This strategic move occurs just weeks before the EU's Markets in Crypto Assets (MiCA) regulations are set to be enforced, facilitating potential expansion within the EU. The company, registered under France's regulatory framework, aims to leverage upcoming MiCA rules to extend operations across the EU, enhancing accessibility for institutions and individuals to engage with digital assets.

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• Nov 18, 2:00 PM Coindesk

  Lido co-founders to challenge Sam Altman's World Network with new crypto identity platform Y

  Lido co-founders are set to launch a new crypto identity platform named Y to compete directly with Sam Altman's World Network. Unlike World, which utilizes biometric iris scans, Y will rely on user's online activity traces for authentication, offering a privacy-focused alternative. This new platform is highlighted in an internal document from Cyber Fund, aiming to use World Network's privacy issues and user recruitment controversies as leverage in gaining users. Y also plans to integrate the Ethereum Attestation Service for a secure verification process.

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