Author: Robert McCracken

A stablecoin invests into crypto mining, a fake tweet moves markets again, and a Binance client executive is kidnapped and robbed! These stories and more, this week in crypto. Stablecoin Moves into Bitcoin Mining Leading stablecoin issuer Tether is investing $500 million into bitcoin mining operations aiming to become one of the largest miners in the world. The firm is building mining facilities in South and Central America with the ambitious plan to contribute 1% of Bitcoin’s total network computing power. Tether disclosed a $3 billion cash surplus in its recent attestation report. Bitcoin ETF Decisions Face Delays Amid heightened…

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Sam Bankman-Fried found guilty on all counts, bitcoin bull Cathie Wood raises deflation concerns, and a global investment manager says there is a digital asset that could see a 100x return. Which one? Stick around. These stories and more, this week in crypto. SBF Found Guilty on All Counts Former FTX CEO Sam Bankman-Fried was found guilty on all seven charges brought against him; including wire fraud, securities fraud, and money laundering, in one of the largest financial fraud cases in history. A Manhattan federal court jury convicted him in just five hours on charges that he stole $8 billion…

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Extreme greed props up the crypto market, Sam Bankman-Fried takes the stand, and Binance woes take a big bite of its founder’s net worth. But how much? Stick around. These stories and more, this week in crypto. Bitcoin at 18 Month High Optimism driven by anticipation of a spot ETF lifted Bitcoin to its highest levels since May of last year, with a remarkable 14% daily gain. At the same time, the Crypto Fear & Greed Index, which gauges market sentiment also reached its highest level since Bitcoin’s all-time high in November 2021. Higher numbers in this index reflect overall…

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ETF hype sends markets on a rollercoaster, Binance is making changes in Europe and did an FTX prosecutor really reference Dumb and Dumber?! These stories and more, this week in crypto. Bitcoin Tests $30,000 On ETF Momentum Bitcoin’s price tested the $30,000 mark twice this week with growing anticipation of a long-awaited Bitcoin spot ETF. Ethereum and the broader altcoin market also trended higher. Even though a published report that a spot ETF had been approved was later retracted, several large market participants this week expressed their confidence in an eventual US spot Bitcoin ETF approval. News Error Causes $100M…

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AI tokens surge, Binance launches NFT loans and one of crypto’s biggest haters makes a surprising move. These stories and more, this week in crypto. AI Tokens Jump Following Nvidia Report AI-themed cryptocurrencies got a lift as Nvidia reported increasing demand for chips that power artificial intelligence applications. Tokens related to AI projects, like SingularityNET, Cortex and Measurable Data Token all recorded significant increases in price, while most of the rest of the cryptocurrency market remained flat. Binance Launched NFT Loan Feature Binance marketplace is launching a non-fungible token loan feature where digital asset holders can secure Ether loans by…

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Elon Musk faces new insider trading charges over Dogecoin, Coinbase says AI can benefit crypto and another crypto millionaire dies mysteriously. These stories and more, this week in crypto. Bitcoin’s First Down Month in 2023 Bitcoin and Ether each experienced their first losing month of the year, as US debt ceiling worries unfolded. Bitcoin finished the month down 8%, its worst month since November 2022,  while Ether’s May red candle showed a loss of only about 2%. Crypto moved in line with major stocks, which were all lower as investors awaited the House vote. Tether USDT Market Cap at All-Time…

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The SEC declares war against crypto companies, the UK plans to ban NFTs and Airdrops, and JP Morgan releases its price prediction for the Halving event. These stories and more, this week in crypto. Tokens Tumble Following SEC’s Lawsuits Solana, Cardano’s ADA and Polygon’s MATIC were among the numerous tokens suffering a sudden 20% drop, days after the SEC alleged they should be classified as securities. In total, 13 crypto assets were identified as securities in an SEC lawsuit filed against crypto exchanges Binance and Coinbase. The Robinhood trading platform quickly delisted Cardano, Polygon and Solana following the SEC filing.…

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Tether reveals controversial reserve holdings, Jack Dorsey offers $5 million for Bitcoin developers, and will the US finally get a Spot Bitcoin ETF? These stories and more, this week in crypto. BlackRock Files for Spot Bitcoin ETF Investment giant BlackRock, has filed an application for a spot bitcoin exchange-traded fund using crypto exchange Coinbase as the custodian for its assets. If approved, the ETF would be the first of its kind in the United States. While Bitcoin futures ETFs have been given the green light by the SEC, none of the numerous spot ETF applications have ever been approved. Tether…

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