BlackRock’s spot Bitcoin ETF is pulling in cash at a speed never seen in the fund industry. After another $4 billion streak of inflows this week, IBIT now holds more than 800,000 BTC, worth roughly $98 billion, and is within striking distance of a milestone that no ETF has ever reached this quickly. Bloomberg Intelligence
Millions of Russian citizens are already using cryptocurrency, finally convincing their government that regulation rather than prohibition is what’s actually needed. According to an estimate, coins in Russian wallets have reached dozens of billions of dollars in valuation, a clear indication of the growing popularity of decentralized digital money in an otherwise centralized system. Russian
Binance Japan’s business partnership with PayPay is an ambitious push to make crypto an everyday payment tool in Japan’s fragmented, yet rapidly evolving market. The crypto market in Japan is entering a new phase of mainstream adoption after PayPay, the SoftBank and Yahoo Japan-backed payments giant, took a 40 percent stake in Binance Japan to
A large cryptocurrency investor who surfaced two months ago with about $11 billion worth of Bitcoin has opened almost $900 million in short positions against Bitcoin and Ether, signaling expectations of a market correction despite widespread optimism for October. The whale returned to trading on Thursday with a $360 million Bitcoin (BTC) transfer that piqued
Key Takeaways The Central Bank of Russia is moving to permit limited crypto activity among banks. Strict capital reserve requirements will remain to manage risk, even as banks engage more with cryptocurrencies. Russia’s central bank is preparing to permit banks to engage in crypto operations under tight regulatory oversight. The monetary authority is exploring a
Bitcoin is trading near $121,550 after failing to hold above its recent peak of $126,272. The market is showing consolidation, with traders split between profit-taking and renewed accumulation. Significantly, derivatives data and spot flows reveal diverging investor sentiment as a veteran trader placed a massive short bet against the top cryptocurrency. Market Consolidation After a
Global central banks have been increasing their gold reserves over the past few years in a trend that may have major implications for Bitcoin, according to a recent report from Deutsche Bank. Gold’s share of central bank reserves reached 24% in the second quarter of the year, its highest share since the 1990s, Deutsche Bank
Following a period of volatility during which it tested both the upside and downside extremes, Bitcoin has now settled between $121,000 and $122,000. This Bitcoin price prediction comes as the market enters a consolidation phase after record-breaking ETF inflows in late September. Despite a minor slowdown, spot Bitcoin ETFs continue to draw substantial investment. Summary
US Secretary of Commerce Howard Lutnick is personally assisting with Tether’s equity fundraise, according to Swan Bitcoin CEO Cory Klippsten. Citing a tip from a national news reporter, Klippsten claims that Lutnick is simultaneously running the Department of Commerce (DOC) and drumming up support for the stablecoin giant’s $20 billion open equity round. On September
Prediction markets, which have gained popularity thanks to global interest in the 2024 US presidential election, continue to increase their cryptocurrency integrations. At this point, Kalshi, the most popular prediction market platform, is also accelerating its cryptocurrency integrations. Kalshi, a US CFTC-regulated prediction platform, integrated Solana (SOL) support in May, allowing users to fund their