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European crypto-banking platform Bitwala, formerly known as Nuri, is coming back after ceasing operations in 2022. European cryptocurrency banking platform Bitwala, formerly known as Nuri, is coming back after ceasing operations and returning customer funds last year. Bitwala is re launch ing operations under its original name, in partnership with the support of the banking infrastructure company known as Striga, the firms said in a joint announcement to Cointelegraph on Nov. 8. As part of the partnership, Striga is providing Bitwala with “Banking and Crypto-as-a-Service,” enabling the crypto banking app to draw on its trading and card-issuing functionality, Bitwala CEO Dennis Daiber said. Bitwala, which rebranded as Nuri in 2021, filed for insolvency in August 2022, citing liquidity issues coming amid a massive crypto bear market that was triggered by the Terra crash. The firm eventually shut down operations in October 2022, asking its 500,000 users to withdraw their assets before ...

While unlikely, Bloomberg’s ETF analysts conceded that there’s always a possibility that SEC Chair Gary Gensler could be waiting until the last moment to deny the flurry of pending spot Bitcoin ETF applications. There’s a slim chance the United States Securities and Exchange chief Gary Gensler could pull the plug on spot Bitcoin (BTC) exchange-traded funds in one “amazingly sadistic” move, according to Bloomberg ETF analysts .  In an Oct. 31 tweet directed at senior Bloomberg ETF analysts James Seyffart and Eric Balchunas, ETF commentator Dave Nadig posed whether Gensler may be allowing for spot Bitcoin ETF applications to pile up just to deny them all at once in a “semi-comedic rug-pull.” “I'm sure it will be much more boring than this -- but sometimes it does feel like this is all a setup for a giant Gensler semi-comedic rug-pull,” said Nadig. I'm sure it will be much more boring than this -- but sometimes it does feel like this is all a setup for a giant Gensler semi-comed...

Bitcoin (BTC) recently reached $35,000, sparking optimism in the crypto market. IntoTheBlock has analyzed key factors shaping its future, from institutional interest to cyclical patterns.  Institutional support for Bitcoin Crypto market data Analysis platform IntoTheBlock takes a dive into Bitcoin’s on-chain metrics this week, shedding light on its immediate and long-term prospects . Bitcoin’s resilience is evident, buoyed by both tactical strategies and institutional backing. We analyzed on-chain metrics regarding Bitcoin’s outlook in this week's newsletter. Bitcoin is showing strength both from a tactical and longer-term perspective, with institutional demand reinforcing cyclical tailwinds. Read the article for more detailshttps://t.co/1KpxdAHpcR — IntoTheBlock (@intotheblock) October 28, 2023 According to the report, Bitcoin’s fees have surged by 44.8%, mirroring increased transaction activity during the recent price rally. Meanwhile, Ethereum...

The Michael Saylor-led software firm has made $132 million in unrealized profits from its Bitcoin bet. MicroStrategy's Bitcoin (BTC) holdings have turned profitable for the first time since July this year as the BTC price has broken through above $30,000. MicroStrategy up $132M in paper profits As of Oct. 23, MicroStrategy held 158,245 BTC worth $4.847 billion, up about $132 million from the original amount invested — at an average rate of 29,870 per BTC. In other words, the firm is now up at least $130 per coin. MicroStrategy Bitcoin holdings as of Oct. 23. Source: BlockchainCenter.Net MicroStrategy started buying Bitcoin in 2020. The firm ramped up purchases in 2023 as BTC's price recovered from extreme losses caused by the Federal Reserve's rate hike policy and high-profile crypto bankruptcies and implosions. In September 2023, MicroStrategy acquired 5,444 BTC by raising an equivalent amount of capital, mirroring the approach that saw the firm buying approximately 12,33...

Lightning Labs launches Taproot Assets alpha, a new feature that enables users to create and transfer digital assets on the Lightning Network. Taproot aims to improve the Bitcoin (BTC) network, enhancing privacy, scalability, and security. It allows users to create complex scripts that can be executed on the Bitcoin blockchain while hiding them under a single public key. This might reduce the transaction size, cost, and information revealed to third parties. Lightning Labs, the leading developer of the Lightning Network, has leveraged Taproot to create the new service. This new feature allows users to issue and transfer digital assets on the Lightning Network. These assets can represent anything from loyalty points, gaming tokens, stablecoins, NFTs, and more. You might also like: Bitcoin network hits block 800,000 milestone, here’s why it matters Taproot Assets are created using Tapscript, a scripting language that enables users to define the rules and conditions for issui...

Taproot Assets is “how we bitcoinize the dollar and the world’s financial assets,” says Ryan Gentry, director of business development at Lightning Labs. Bitcoin layer-2 infrastructure firm Lightning Labs has release d the mainnet alpha of Taproot Assets, a protocol aimed at enabling stablecoin s and real-world assets to be issued on the Bitcoin and Lightning Network. The current version, Taproot Assets v0.3, will provide a “feature-complete developer experience” to issue, manage and explore stablecoin s and other assets on the Bitcoin blockchain, according to Ryan Gentry, head of business development at Lightning Labs. “We believe this new era for Bitcoin will see a myriad of global currencies issued as Taproot Assets, and the world's foreign exchange transactions settled instantly over the Lightning Network.” “With this release , developers can issue financial assets on-chain in a scalable manner,” Lightning Labs stated on Oct. 18 in a separate post. “Today marks a new era of mu...

Bitcoin (BTC) whales are actively accumulating the orange coin, as 16 new wallets now hold between 100-1,000 BTC, Santiment data shows. This trend suggests a growing investor confidence in the flagship cryptocurrency’s future.  Bitcoin whale accumulation Bitcoin recently saw another notable day of accumulation among its larger holders, often referred to as “ whale s.”  A total of 16 new wallets have now entered the category of those holding between 100 and 1,000 BTC, demonstrating a growing trend.  What’s interesting is how this uptick in larger wallets correlates with smaller ones moving up the ranks, potentially reflecting a broadening interest in cryptocurrency. While we avoid any excessive excitement, these developments suggest that as more significant stakeholders increase their holdings, the argument for a potentially positive future for Bitcoin gains strength. On March 15, Bitcoin whale s were on the move, sending over 21,000 BTC to exchang...

Bitcoin’s months of sideways action have been uncannily similar to the previous two BTC market cycles, which saw a pivot in November leading up to a halving event. Bitcoin’s ongoing sideways price action could flip bullish as early as November if it behaves similarly to previous cycle s leading up to a halving event, according to market observers. On Oct. 10, crypto analyst Miles Deutscher cited a chart from CryptoCon, noting that the recent patterns for Bitcoin are similar to those seen in previous cycle s. “This is typical sideways price action that occurs from Q2-Q4 in pre-halving years.” He added that Nov. 21 has historically been a key pivot point for Bitcoin's price to begin trending upward as it heads to the next halving. For example, following six months of sideways trading in mid-2015, BTC prices starting gaining ground around November. Likewise in 2019, markets spent most of the year flat before taking off around the end of the year. BTC price performance after each h...

Marathon Digital reportedly mined an invalid Bitcoin transaction at block height 809478. The publicly traded miner disordered a transaction — spending first, then receiving bitcoin — leading it to lose its 6.25 BTC (~$150,000) Coinbase reward for the erroneous block. Full nodes logged an error message indicating that the block included missing or already-spent bitcoin. In other words, Marathon Digital mined a block of transactions that included a transaction prohibited by Bitcoin’s consensus rules. Specifically, Marathon included this transaction within its block , which spent coins outputting from this transaction which was already mined in the block after the initial transaction. In other words, it was classic, prohibited reordering of coin outputs: spending coins first, then receiving them . Not allowed. Bitcoin doesn’t permit the creation of expenditures ex nihilo, even if they’re accounted for in the very next block. All bitcoin since genesis have bee...

The Supreme Court of British Columbia has given Hut 8 final clearance to complete proposed merger with USBTC. Canadian Bitcoin mining firm Hut 8 is set to wrap up its planned merger with US Bitcoin (USBTC) following final approval from the Supreme Court of British Columbia. Hut8 and USBTC had announced the move in February 2023 which was subject to shareholder and regulatory approval. The merger will see Hut 8 and USBTC form Hut 8 Corporation, or “New Hut”, which will become a publicly traded United States-based business. An initial announcement from Hut 8 highlighted that the merger would open up 825 megawatts of capacity across six different Bitcoin mining and data center facilities. While the Supreme Court of British Columbia has issued a final order approving the merger , the closing of the deal is subject to a handful of outstanding requirements, including the approval of USBTC shareholders. Hut 8 anticipates that the final transaction confirming the merger and creation of Ne...

The blockchain analytics firm claims Grayscale is the world's second-largest BTC entity. Blockchain analytics platform Arkham Intelligence claims to have identified the addresses of the Grayscale Bitcoin Trust. The trust consists of more than 1,750 addresses holding a total of over $16 billion worth of Bitcoin (BTC), according to a Sept. 6 thread on X (formerly Twitter). Arkham claimed that Grayscale is “the 2nd largest BTC entity globally.” Breaking: Arkham has identified the Grayscale Bitcoin Trust’s holdings on chain. It is the 2nd largest BTC entity globally, holding >$16B of BTC. Though Grayscale publicly reports balances, they have refused to identify the on-chain addresses of the trust. https://t.co/uEN4kNldpm pic.twitter.com/p9GfrthoKR — Arkham (@ArkhamIntel) September 6, 2023 The Grayscale Bitcoin Trust holds over $16 billion in BTC. Its issuer, Grayscale, is currently battling with the U.S. Securities and Exchange Commission (SEC) as it attempts to transform the tr...

The atmosphere is charged in the US crypto arena, heightened by SEC Chair Gary Gensler’s seeming determination to rein in crypto businesses. MicroStrategy Inc’s co-founder and executive chairman Michael Saylor recently spoke to Bloomberg, commenting on this dynamic while painting an optimistic future for bitcoin . Since 2020, MicroStrategy has posited bitcoin (BTC) as the singular institutional-grade, investable asset in the crypto space. This globally recognized and acknowledged digital commodity has dwarfed other crypto contenders from Saylor’s perspective. Given the regulatory climate, Saylor articulates that the authorities lack a legitimate forward path for other cryptocurrencies, including stablecoins, crypto securities, and crypto derivatives.  The landscape appears to narrow down to a bitcoin -centric industry, as regulators lean towards crypto exchanges trading and holding only pure digital commodities such as bitcoin . You might also like: Rece...

Despite trimming debt and operational expenses, Argo Blockchain posted a net loss of over $18 million in H1 2023, records show. Argo Blockchain, a leading crypto mining company (LSE: ARB; NASDAQ: ARBK), has released its performance report for the first half of 2023. According to the report, in Q2 2023, Argo Blockchain decreased its non- mining operational costs and expenditures by 21% from the prior quarter, yielding a positive Adjusted EBITDA of $1.0 million for the quarter ($2.3 million for H1 2023). While its revenue dropped by 31%, the company achieved a 1% growth in its Bitcoin (BTC) mining operations during that period. The company’s debt was reduced by $4 million in the quarter, resulting in a cumulative debt decrease of $68 million from June 2022 to June 2023. The firm noted that it generated a revenue of $24.0 million in H1 2023, representing a 31% decrease from H1 2022. Argo attributes its revenue decline to the fall in the price of  Bitcoin and the surge in glob...

Also Read: “DOJ Needs to Sue Themselves”- Elon Musk on Charges Against SpaceX advertisement Local Bottom For BTC Price On August 24, 2023, Bitcoin saw a sharp fall surrounding the much awaited Powell speech. The Jackson Hole event led selloff was actually the largest liquidation event since December 2021. Meanwhile, crypto analyst CrediBULL stated that despite short positions placed below the $20,000 mark, there is no concrete testing of bullish sentiment for the top cryptocurrency. “Calls for 20k, 12k and 10k pouring in despite no actual break in bullish market structure to signal any sort of shift in momentum (first break is at 24.8k).” Recommended Articles Crypto Presale Projects For 2023 To Invest; Updated List Must Read Best Crypto Trading Bots List 20...

How to Sell Large Amounts of Bitcoin: A Comprehensive Guide for Cashing Out Large Amounts With the increasing popularity of Bitcoin, many people are wondering how to sell their Bitcoin, especially when dealing with large amounts. Whether you’re a seasoned investor or a new adopter of crypto currencies, understanding the process of cashing out Bitcoin is crucial. In this comprehensive guide, we will explore the various methods and considerations involved in selling large amounts of Bitcoin, providing you with the knowledge and confidence to make informed decisions for your digital wealth. Also read: Binance Might ‘Not’ be Manipulating the Bitcoin Market Yet Source: Bitcoin Wisdom Understanding the Difference Between Cashing Out Small and Large Amounts of Bitcoin Before delving into the specifics of cashing out large amounts of Bitcoin, it’s important to understand the difference between cashing out small and large amounts. While the definition of “large...