Bitcoin News

Bitcoin (BTC) drifted toward $27,000 after the Aug. 30 Wall Street open as the dust settled on digital asset manager Grayscale’s legal victory. BTC/USD 1-hour chart. Source: TradingView BTC buyer interest remains low Data from Cointelegraph Markets Pro and TradingView showed BTC price cooling volatility, which began the day prior, when a positive verdict for

Coinbase’s stock experienced a significant surge on Aug. 29 after reports emerged that a federal judge had ruled in favor of Grayscale in their SEC legal dispute. In the final moments of the trading session on Tuesday, Aug.29, the value of COIN stood at $85.13 per share, marking an increase of over 15% over the

The announcement of Patricia Token (PTK) by Nigerian crypto exchange Patricia was greeted by users with scepticism and some suspicion, as they took to social media to question the motives behind the move. Now, in a response to that reaction, the crypto exchange company has released a white paper seeking to explain the intended function of

Google Cloud announced a new partnership with the government of El Salvador on Aug. 29 to establish an office and provide Google Distributed Cloud (GDC) services in the country.  The partnership aims to digitize the country, update government services and improve the healthcare and education systems. The GDC will also help bring infrastructure closer to

Bitcoin (BTC) investment vehicle, the Grayscale Bitcoin Trust (GBTC) could erase its BTC price “discount” in 2024. In an X post on Aug. 30, monitoring resource CoinGlass predicted that the so-called “GBTC premium” would soon return. GBTC price: From “elevator to hell” to “stairway to heaven?” Grayscale netting a court victory over United States regulators

Rhode Island’s regulators have granted X (Twitter) a currency transmitter license marking a step forward for the company’s foray into the financial services sector.  The license is legally required for companies conducting financial activities on behalf of users related to sending and receiving money — a definition that includes both fiat and crypto assets. The

News headlines have recently covered how China’s struggling economy poses significant risk to global growth. Economic activity and the flow of credit in the region are weakening and analysts are not convinced that the Chinese government’s interventions are a sufficient fix for what appear to be structural problems.  For instance, industrial output in July increased

A trio of researchers from the University of Cincinnati recently developed a Crypto Literacy Scale (CLS) to help standardize and measure economic and financial knowledge as it relates to consumer and policy-maker understanding of cryptocurrencies and related technology. The team’s research paper, titled “Measuring Crypto Literacy,” details the gap between traditional financial literacy and crypto

Bitcoin (BTC) neared two-week highs on Aug. 29 as news hit that digital asset manager Grayscale had won a lawsuit against United States regulators. BTC/USD 1-day chart. Source: TradingView SEC was “arbitrary and capricious” with Bitcoin ETF rejection Data from Cointelegraph Markets Pro and TradingView captured an instant BTC price reaction to the event, with

Nasdaq-listed Iris Energy has bought 248 state of the art Nvidia H100 GPUs for $10 million as it looks to explore opportunities in generative AI in addition to its core business focus on Bitcoin mining. The firm expects to receive delivery of the 248 GPUs in the coming months and plans to deploy the hardware

Bitcoin (BTC) may offer investors a rare chance to buy at a support zone with a “100% long hit rate,” new analysis says. In its latest update piece on Aug. 29, crypto asset manager Capriole Investments told investors to watch for a BTC price dip to $24,000. Capriole founder “very confident” in $23,000 BTC price

Bitcoin mining company Canaan announced its unaudited financial results for Q2 2023, showing growth in computing power sold and BTC mining revenues while it tackled a significant net loss of $110 million. up 31% on Q1. The NASDAQ-listed company outlined a variety of reasons influencing increased revenues and a significant headwind that included an inventory

The mining company, which has been one of a number of firms to struggle amid negative market conditions and a highly-competitive mining ecosystem, reported half year net losses of $18.8 million in 2023, down over 50% from a net loss of $39.6 million in H1 2022. Argo also notes that it has reduced its debt

The first-ever spot Bitcoin exchange-traded fund (ETF) launched on the European market has been classed as an Article 8 fund by its issuer firm, London-based Jacobi Asset Management. Funds included under Article 8 of the European Sustainable Finance Disclosure Regulation (SDFR) are those that “promote environmental and/or social characteristics.”  On Aug. 29, Bloomberg reported that

Digital Currency Group (DCG), a major venture capital firm in the cryptocurrency industry, has reached an in-principle agreement with creditors of its crypto lending subsidiary, Genesis. According to a court filing published on Aug. 29, the estimated USD equivalent recoveries could account for 70% to 90% for unsecured creditors, should the amended plan be consummated.

The next Bitcoin halving event is less than 9 months away and the consensus opinion among analysts and investors is that the halving will send BTC price to a new all time high or even above $100,000.  Despite this belief, the absence of fresh inflow to the crypto market, the current macroeconomic headwinds and BTC’s

Bitcoin (BTC) recovered its weekly close losses on Aug. 28 as risk assets rose on Chinese tax cuts. BTC/USD 1-hour chart. Source: TradingView BTC price 200-week EMA stands out as support Data from Cointelegraph Markets Pro and TradingView followed a BTC price uptick into the day’s Wall Street open. BTC/USD managed $26,226, marking its highest

Laos state-owned electricity distribution company Électricité du Laos (EDL) has announced that it will suspend electricity supply to crypto mining operations in the country, citing various reasons such as the struggle to generate enough power amid drought conditions. According to the announcement, Laos experienced drought in the first half of 2023. The extreme heat resulted

Bitcoin (BTC) starts a new week struggling with $26,000 as August becomes its worst month of 2023. BTC price strength remains dubious after a snap crash 10 days ago, with bulls unable to wrestle back control of the market to provide a relief bounce. The outlook is similarly uncertain, with September traditionally a poorly performing

Bitcoin mining revenue or “hash price” — a measure of dollars earned per TH/s per day — has slumped to levels not seen since the collapse of FTX in November 2022, while hash rate has reached new highs.  Over the past week, Bitcoin network hash rate topped 414 exahashes per second (EH/s) on Aug. 18