Category: Crypto

[PRESS RELEASE – New York, United States, July 25th, 2024] Xverse, the leading Bitcoin Web3 wallet, has teamed up with Acre to offer a native Bitcoin-in, Bitcoin-out staking experience. This partnership gives users the ability to earn BTC-based rewards – marking a new category in Bitcoin innovation. Through this partnership, Xverse users can now effortlessly put their BTC to work in Acre directly from the Bitcoin mainnet via their existing Xverse wallet. Acre’s fully on-chain staking experience eliminates the complexity of participation in the Bitcoin economy with its ‘one click’…

India’s Narcotics Control Bureau (NCB) is actively monitoring cryptocurrency payments on the darknet as part of its ongoing efforts to combat drug trafficking in the country. During a Parliamentary discussion on July 24, Nityanand Rai, the minister of state for home affairs, revealed India’s current strategy to reduce the import and inter-state movement of narcotic drugs. Countering drug trafficking on the darknet According to data from NCB, the nodal drug law enforcement and intelligence agency of India, the use of cryptocurrencies in drug crimes has been inconsistent over the last…

Developers at BitcoinOS (BOS) made blockchain history on Tuesday by successfully verifying the first-ever zero-knowledge proof (ZKP) on Bitcoin mainchain. This milestone opens the door to truly minimized Bitcoin layer 2 rollup systems, offering limitless scalability and functionality for Bitcoin without needing changes to its underlying consensus code. Bitcoin Now Has ZK Proofs According to the BitcoinOS team, the final verification of its first ZK proof occurred at Block 853626. The cryptographic proof allowed them to successfully emulate covenants on-chain – a type of conditional Bitcoin payment developers once thought…

A Bitcoin mining device with a hashrate of only 500 gigahashes per second (Gh/s) managed to mine a block on July 24, according to an X post from Bitcoin mining device retailer Altair Technology. The block is worth approximately $206,000 based on the current Bitcoin price. “Congratulations to the miner who likely mined the first solo BTC block with a Bitaxe on @ckpooldev with ~500 Gh hashrate!” the post stated. Source: Altair Technology. The device, called a “Bitaxe,” and produced by D-Central Technologies, is approximately the size of a human…

Ether’s has failed to gain any upward traction despite the hype around it. Instead, the altcoin ended up shedding nearly 2% over the past 24 hours as it hovered near $3,460 despite a strong debut for spot Ethereum ETFs. This tepid price movement contrasts with the strong trading activity recorded by these new investment vehicles on the very first day. However, the resurgence in whale accumulation tells a different story. Ethereum’s Aggressive Accumulation According to the latest data shared by IntoTheBlock, there’s a significant trend in Ethereum accumulation despite a…

A new fund has started offering Bitcoin holders a way to become European Union citizens through Portugal’s golden visa program.  In an X post, Alessandro Palombo, the co-founder and CEO of Unbound Fund, announced the possibility of gaining Portuguese citizenship by investing in Bitcoin (BTC). Source: Alessandro Palombo Palombo claims that their fund is the first of its kind to be eligible for the Portuguese golden visa program by providing exposure to BTC. Indirectly holding over $500,000 in Bitcoin could land EU citizenship According to Palombo, investors indirectly holding Bitcoin…

Spot Ethereum ETFs began trading in the United States for the first time on July 23, and the initial picture isn’t pretty for the world’s largest crypto asset manager. As expected, Grayscale’s newly converted Ethereum Trust (ETHE) hemorrhaged $484 million on day one of trading. If the situation mirrors that when Grayscale converted its Bitcoin Trust to a spot ETF, the fund could lose half of its assets under management. This would equate to around $4.5 billion worth of Ethereum. Solid First Day Investors are pulling out of the fund…

Investment bank Citi has increased its share price target for crypto exchange Coinbase, citing a “shifting” political landscape and a recent Supreme Court decision in the United States as bullish catalysts for the stock.  In a July 23 investor note viewed by Cointelegraph, Citi analysts Peter Christiansen, David Wieloszynski, and Nicolette Radomski upgraded their guidance on Coinbase (COIN) from “neutral” at $260 to a “buy” with a target of $345 in the coming months. The investment bank cited the recent spate of developments in the United States election race as…

India has decided to uphold its existing crypto tax regulations for the 2024/25 fiscal year despite ongoing appeals from industry leaders for a reduction in the current rates. Finance Minister Nirmala Sitharaman confirmed this decision during her budget presentation on Tuesday for the 2024/25 fiscal year. India’s Latest Budget Keeps 1% Crypto TDS India’s latest budget presentation comes five months after the interim budget maintained the 1% tax deducted at source (TDS) rate for crypto transactions, a rule established in April 2022. This regulation led to a significant decline in…

Ethereum exchange-traded funds (ETFs) are now officially trading on stock exchanges, and the preliminary inflow data for the first 15 minutes of trading has been revealed by analysts. According to Bloomberg senior ETF analyst Eric Balchunas, BitWise outperformed its competitors during the first quarter-hour of trading, recording $25.5 million in capital inflows, second only to Grayscale’s Ethereum Trust, created in 2017. Source: Eric Balchunas Total inflows into the nine Ethereum investment vehicles reached $112 million in the first 15 minutes of trading, which is far more than traditional ETF offerings,…