Author: Andrei Ionescu
The International Monetary Fund (IMF) has once again urged El Salvador to bolster its regulatory framework and oversight of its bitcoin ecosystem, recommending that the country narrow the scope of its bitcoin law. During a press conference on Thursday, IMF spokesperson Julie Kozack emphasized the need for El Salvador to limit public sector exposure to bitcoin, according to Reuters. This is not the first time the IMF has raised concerns about El Salvador’s bitcoin policy. In August, the IMF issued a similar warning, stating that while many of the risks associated with the country’s adoption of bitcoin as legal tender…
Tokyo-based investment firm Metaplanet has earned 23.972 BTC, approximately $1.46 million, by selling bitcoin put options, boosting its total bitcoin holdings to 530.717 BTC—currently valued at around $32.4 million. The company made the announcement on Thursday, detailing its transaction with QCP Capital. Metaplanet sold 223 bitcoin put options with a strike price of $62,000 per bitcoin, maturing on December 27, 2024. This move allows the firm to increase its bitcoin reserves if the market price falls below the strike price at maturity. In a statement, the company explained that this strategy aligns with its broader goal of enhancing long-term bitcoin…
U.S. spot Bitcoin exchange-traded funds (ETFs) experienced significant net outflows of $91.76 million on Wednesday, marking the second consecutive day of negative flows. The largest outflow came from Ark and 21Shares’ ARKB, which saw $60.28 million exit the fund. Grayscale’s GBTC, the second-largest spot Bitcoin ETF by net assets, recorded $27.31 million in outflows, while BlackRock’s IBIT, the largest spot Bitcoin ETF, registered its first daily outflows since September 9, losing $13.74 million. Bitwise’s BITB also saw outflows of $11.51 million. Meanwhile, seven other Bitcoin ETFs recorded no inflows or outflows. The total trading volume for these ETFs dropped to…
Monero (XMR) saw a sharp 5% decline following Kraken’s announcement that it will discontinue support for the privacy-focused cryptocurrency in the European Economic Area (EEA) by the end of October. The move comes in response to mounting regulatory pressures in the region, according to a statement from the exchange on October 1. Kraken stated that as of October 31, 2024, at 15:00 PM UTC, it will halt trading and deposits of all Monero markets, including XMR/USD, XMR/EUR, XMR/BTC, and XMR/USDT, for EEA-registered clients. Open Monero orders will be automatically closed at this time. While Monero trading will be restricted, Kraken…
U.S. spot Bitcoin exchange-traded funds (ETFs) experienced a significant $242.53 million in outflows on Tuesday, marking the largest daily net outflows since September 3. This move ended an eight-day streak of positive flows for bitcoin ETFs. U.S. spot bitcoin exchange-traded funds (ETFs) experienced a significant $242.53 million in outflows on Tuesday According to data from SoSoValue, Fidelity’s FBTC led the exodus, with $144.67 million leaving the fund. Ark and 21Shares’ ARKB followed closely, reporting $84.35 million in outflows, the largest since August 27. Other notable outflows included Bitwise’s BITB with $32.7 million and VanEck’s bitcoin ETF with $15.75 million. Even…
Binance, the world’s largest cryptocurrency exchange, has announced its decision to delist four spot trading pairs as part of its routine market quality assessments. Binance has announced its decision to delist four spot trading pairs as part of its routine market quality assessments. The trading pairs to be removed are due to low liquidity and trading volume, a standard practice to protect users and maintain a high-quality trading environment. Spot Trading Pairs to Be Removed: Key Information: In addition, Binance will also terminate Spot Trading Bots services for these pairs at the same time. Users utilizing trading bots for these…
U.S. spot Bitcoin exchange-traded funds (ETFs) saw continued momentum on Monday, logging $61.3 million in net inflows, marking the eighth consecutive day of positive inflows. According to data from SosoValue, these investments highlight sustained interest in Bitcoin products. Leading the inflows was BlackRock’s IBIT, the largest spot Bitcoin ETF by net assets, which attracted $72.15 million on Monday. Fidelity’s FBTC also saw solid growth, bringing in $8.32 million. However, not all ETFs followed this trend. Ark and 21Shares’ ARKB reported $9.5 million in net outflows on Monday, after significant inflows of $203.07 million last Friday. Bitwise’s BITB experienced similar movement,…
Arbitrum One, a Layer 2 optimistic rollup for Ethereum, has achieved a significant milestone, surpassing 1 billion transactions since its mainnet launch in August 2021. This achievement comes within three years, reflecting Arbitrum’s growing dominance in the Layer 2 space. According to Blockscan data, Arbitrum’s competitor Base, incubated by Coinbase, has recorded 755 million transactions, while OP Mainnet has registered 347 million transactions. Despite the competition, Arbitrum maintains the highest total value locked (TVL) among Layer 2 networks, with $2.5 billion, according to DeFiLlama. Base follows closely with $2.2 billion in TVL. How Arbitrum Works Developed by Offchain Labs, Arbitrum…
Curve Finance, a leading decentralized exchange (DEX) for stablecoin trading, is considering removing TrueUSD (TUSD) as collateral for its native stablecoin, Curve USD (crvUSD). The move comes after growing concerns over TUSD’s regulatory and transparency issues, including recent charges by the U.S. Securities and Exchange Commission (SEC) accusing TrueUSD’s original issuer of defrauding investors. The proposal, submitted by a user named WormholeOracle, suggests reducing the upper limit for TUSD backing crvUSD to zero, meaning TUSD would no longer be allowed to support the issuance of crvUSD. The proposal also recommends reducing crvUSD’s minting capacity using PayPal’s stablecoin, PYUSD, from $15…
U.S. spot Bitcoin exchange-traded funds (ETFs) continued their inflow streak, posting a fifth consecutive day of net inflows on Wednesday, totaling $105.84 million. According to data from SoSoValue, BlackRock’s IBIT, the largest Bitcoin ETF by net assets, reported the highest daily net inflows of $184.38 million. Bitwise’s BITB was the only other fund to register positive flows, with $2.07 million in net inflows. However, several funds faced outflows. Ark Invest and 21Shares’ ARKB recorded $47.41 million in net outflows, while Fidelity’s FBTC saw $33.19 million withdrawn. The other eight funds, including Grayscale’s GBTC, had no net inflows or outflows for…