BITCOIN
Bitcoin (BTC) is the world’s first open-source, peer-to-peer cryptocurrency developed by a pseudonymous person or group of people under the name of Satoshi Nakamoto in 2008. The identity of Satoshi Nakamoto remains a mystery. The crypto is run on distributed ledger technology, also known as blockchain. Bitcoin allows for lower transaction fees than traditional online payment systems, and is decentralized, unlike government-backed currencies. Bitcoin is the world’s largest cryptocurrency by market capitalization and has a limit of 21 million coins. The cryptocurrency uses a proof-of-work protocol to enable security, privacy, and legitimacy of monetary transactions. The issuance of Bitcoin requires mining, where programmers solve a difficult cryptographic puzzle to be able to mine Bitcoin, which earns them a reward. Bitcoin remains the most popular cryptocurrencies, all other cryptocurrencies are known as altcoins.
CME Group and CF Benchmarks to Introduce APAC Reference Rates for Bitcoin and Ether
CME Group and CF Benchmarks will launch APAC-specific Bitcoin and Ether reference rates on Sep 11. The rates aim to cater to growing crypto interest in the Asia Pacific, providing daily U.S. dollar values at 4 p.m. HK/SG time.
Bithumb Korea Reports Operational Losses Due to Declining Crypto Trading Volume
Bithumb Korea reported a Q2 operational loss of KRW 3.442 billion in 2023, down from a KRW 38.42 billion profit last year. The decline is attributed to reduced crypto trading volumes and fee income. The exchange is now offering no-fee events to boost activity.
Hut 8 Q2 2023 Report: $19.1 Million Revenue with 9,136 Self-Mined Bitcoin in Custody
Hut 8's Q2 2023 report reveals $19.1M revenue and 9,136 self-mined Bitcoin. The quarter saw a net loss of $16.7M and mining profit of $3.2M.
2024 Election Impact on SEC's Bitcoin Spot ETF Approval
John Reed Stark's analysis suggests the 2024 U.S. Election may be pivotal in shaping the SEC's policy on Bitcoin spot ETFs.
SEC Delays Decision on ARK 21Shares Bitcoin ETF, Opens Public Comment Period
The SEC has delayed its decision on ARK 21Shares' Bitcoin ETF until Nov 11, 2023, opening a 21-day public comment period.
ShIB and LPT Lead the Surge of Meme Coins as Bitcoin Stagnates at $29,400
ShIB and LPT lead the meme coin surge, with trading volumes of $2.25B and $975.24M on Binance Futures. Top gainers include BLZ, LPT, and RUNE, while Bitcoin remains stagnant at $29,400.
Involved in Cryptocurrency and Cash Corruption, Regional Military Recruitment Heads Were Dismissed by Ukrainian President
Ukrainian President dismissed regional military recruitment heads for corruption involving cryptocurrency and cash. Law enforcement opened 112 cases.
Gemini's Weekly Update: PayPal Launches PYUSD Stablecoin, Coinbase Unveils Base Layer-2, and Aptos Announces Microsoft Partnership
PayPal launches PYUSD stablecoin; Coinbase unveils Base Layer-2; Aptos partners with Microsoft; July inflation below expectations at 3.2% and 4.7% yearly.
Bitdeer Mined 220 Bitcoin in July
Bitdeer Technologies Group announced mining 220 Bitcoins in July 2023, reaching a total hash rate of 20.6 EH/s, and completing the Gedu Datacenter in Bhutan.
Cathie Wood: SEC to Approve Multiple Bitcoin ETFs Simultaneously
Cathie Wood predicts the U.S. SEC may simultaneously approve multiple Bitcoin ETFs.
Crypto Miner Argo Blockchain Mined 129 Bitcoins in July 2023
Argo Blockchain mined 129 BTC in July 2023, an 11% decrease from June, with stable revenue of $3.87M.
Ault Alliance's Sentinum Mined 909 Bitcoins this year
Ault Alliance's subsidiary, Sentinum, mined 909 Bitcoins from Jan to Jul 2023, with 668 in Michigan and 241 via a partnership with Core Scientific.
Hong Kong-Based OSL Digital Securities Receives License Uplift to Enable Retail Trading of Bitcoin and Ethereum
OSL Digital Securities Limited ("OSL Digital Securities"), a wholly-owned subsidiary of BC Technology Group Limited (Stock Code: 863), has been granted an uplift to its existing license by the Securities and Futures Commission (SFC) of Hong Kong.
Grayscale Submits Comment Letter to SEC Regarding Spot Bitcoin ETF Application
Grayscale's legal team submitted a comment letter to the SEC, advocating for the approval of all spot bitcoin ETF applications, emphasizing fair regulation and investor protection.
Crypto Trends: Weekly Inflows and Outflows in Altcoins, North American Markets, and Investment Products
Altcoins saw $3M in weekly inflows; North America had $11B outflows. Digital asset products had minor withdrawals of $21M, with Bitcoin trading at $16B.