Investors Pile Into Bitcoin: Spot ETFs On A Tear For 8 Straight Days
Bitcoinist - Bitcoin News and Reviews
by Christian Encila
26m ago
The floodgates have opened for Bitcoin in the US, with spot Bitcoin exchange-traded funds (ETFs) experiencing a record-breaking eight days of consecutive net inflows. This surge in investor appetite, totaling more than $150 million on a single day, signifies a new era for cryptocurrency accessibility and traditional market acceptance. Ethereum Enters The Arena The positive sentiment surrounding Bitcoin ETFs extends to its Ethereum counterpart. The US Securities and Exchange Commission (SEC) recently requested amendments and refilings of applications for spot Ether ETFs. This move, often seen a ..read more
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SEC Wins Case Against Crypto Influencer Ian Balina For Securities Laws Violation
Bitcoinist - Bitcoin News and Reviews
by Rubmar Garcia
4h ago
On Wednesday, a Texas federal court judge ruled in favor of the US Securities and Exchange Commission (SEC) in the case against crypto influencer Ian Balina. The case is part of the Sparkster saga that started in 2018. The Case Against The Crypto Influencer In 2022, influencer and Token Metrics CEO Ian Balina was accused of violating securities laws. The SEC charged Balina for his involvement in the Initial Coin Offering (ICO) of an unregistered security. According to the court documents, Software development company Sparkster Ltd conducted an unregistered securities offering with the Sparkste ..read more
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FTX Co-Founder Sam Bankman-Fried Transferred To New Detention Center, Details
Bitcoinist - Bitcoin News and Reviews
by Ronaldo Marquez
4h ago
According to a Bloomberg report, Sam Bankman-Fried, the co-founder of the FTX crypto exchange, has been transferred to a temporary detention center in Oklahoma, contrary to a federal judge’s request to keep him in New York to assist in his appeal.  The move comes as Bankman-Fried navigates the aftermath of his conviction for orchestrating a significant fraud at FTX. Sam Bankman-Fried Transferred To Oklahoma  According to the report, Sam Bankman-Fried is currently housed at the Federal Transfer Center in Oklahoma City, as stated on the Bureau of Prisons website. He spent much of last ..read more
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Dogecoin Weighted Funding Rate Falls 50% In 24 Hours, What This Means For Price
Bitcoinist - Bitcoin News and Reviews
by Scott Matherson
5h ago
Dogecoin, like the rest of the crypto market, has seen a slow down over the last day that has greatly impacted its price. However, this slowdown isn’t completely limited to the price as the open interest-weighted funding rate of the meme con has seen a significant decline over the last day. Dogecoin OI-Weighted Funding Rate Crashes 50% Over the last few days, as the Dogecoin price rose, so did the OI-weighted funding rate. This is normal, given that the funding rate follows market sentiment. In times when crypto traders are very bullish, the funding rate rises as long traders have to pay short ..read more
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Bitcoin Money Launderer Sentenced To 6 Years Behind Bars In $6B Scam
Bitcoinist - Bitcoin News and Reviews
by Ronaldo Marquez
7h ago
A recent report by the Financial Times reveals that a British-Chinese woman, Jian Wen, has been sentenced to six years and eight months in prison for her involvement in laundering Bitcoin (BTC) allegedly derived from a £5 billion fraud in China.  Wen, aged 42, was convicted in March of one count of money laundering on behalf of her former boss, Yadi Zhang, a Chinese woman. The sentencing took place at London’s Southwark Crown Court on Friday. London Mansion Raid Uncovers £3 Billion Bitcoin Stash According to the report, in 2018, London’s Metropolitan Police conducted a raid on Wen and Zha ..read more
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Shiba Inu See Spike In Net Flows Following Listing On Solana-Focused Exchange, Is This Positive?
Bitcoinist - Bitcoin News and Reviews
by Scott Matherson
8h ago
Shiba Inu (SHIB) is again gaining bullish momentum, suggesting that a significant rally might be on the horizon for the meme coin. This is thanks to recent developments that have painted a positive outlook for the crypto token.  Shiba Inu Sees Spike In Netflows Data from the market intelligence platform IntoTheBlock shows that Shiba Inu has seen a notable increase in net flows, which have risen to as high as 379.61 billion SHIB tokens in the last 24 hours. This indicates that a lot of whale activity is currently going on in the Shiba Inu ecosystem.  An increase in whale activity sugg ..read more
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Hedge Funds Are Net Short On Bitcoin Futures Even As BTC Bulls Take Over Options Markets
Bitcoinist - Bitcoin News and Reviews
by Dalmas Ngetich
9h ago
There is nothing for Bitcoin holders and traders to write much about prices in recent days. Although there was excitement after May 20, the coin has been printing discouraging lower lows, cooling off from the impressive $71,900 zone to less than $68,000 at press time. As BTC drops 7% from this week’s high, hedge funds appear to be exiting. Hedge Funds Are Shorting Bitcoin Futures On CME: Are They Really Bearish? According to Kaiko, a blockchain analytics platform, the latest data from the United States Commodity Futures Trading Commission (CFTC) showing Commitment of Traders (CO ..read more
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Binance Completes Another Massive LUNC Burn, Here’s How Much Was Burned
Bitcoinist - Bitcoin News and Reviews
by Scott Matherson
10h ago
Binance, the world’s largest crypto exchange by volume has executed another large-scale Terra Classic (LUNC) burn, continuing its supporting role for the Terra Classic ecosystem. Despite the substantial supply reduction, the price of LUNC and its daily trading volume have been falling significantly.  Binance Burns LUNC Tokens On May 23, Binance initiated another LUNC burn separate from its 21st batch of LUNC burns on May 1. According to LUNC burn tracker, Terra Finder, the crypto exchange transferred about 29,828 LUNC tokens to a dead wallet, with a transaction fee of 11.33 LUNC.  Ty ..read more
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FTX Bankruptcy Estate Concludes $2 Billion Solana Sale At Steep Discounts
Bitcoinist - Bitcoin News and Reviews
by Ronaldo Marquez
12h ago
The estate of bankrupt cryptocurrency exchange FTX has completed the sale of a substantial trove of discounted Solana (SOL) tokens, amounting to $2.6 billion. The auctions spanned several weeks and attracted buyers such as Figure Markets and Pantera Capital.  These transactions mark a significant development in the bankruptcy proceedings of FTX, previously operated by convicted fraudster Sam Bankman-Fried. Figure Markets Acquires 800,000 Solana Tokens According to a Bloomberg report, Figure Markets acquired a block of 800,000 Solana tokens for approximately $80 million. The purchase price ..read more
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London Stock Exchange Faces Staffing Crisis Amid Plans For Crypto ETPs Debut
Bitcoinist - Bitcoin News and Reviews
by Samuel Edyme
13h ago
As the London Stock Exchange Group (LSE) prepares to list its inaugural crypto-linked products, it faces a significant hurdle: the loss of half its four-person team responsible for “overseeing’ exchange-traded funds (ETFs). Key departures include Michael Stanley, head of exchange-traded products, and Hetal Patel, head of business development, who have played pivotal roles in the ETF team. Crypto ETPs Gaining Ground In The UK The timing is particularly sensitive as the LSE gears up to introduce its first exchange-traded products (ETPs) tied to cryptocurrencies, marking a significant milestone i ..read more
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