Bitcoin’s Value Artificially Inflated and Rarely Used for Legal Transactions, Says ECB
The latest critique came from the top leadership at European Central Bank (ECB), who stated that Bitcoin’s value “is likely to be artificially induced” while adding that the crypto-asset is on a “road to irrelevance.”
Bitcoin Records the Largest Miner Outflow to Wallets in 2 Years
Miners are still facing the worst of the crypto market’s turmoil, with profits down by 80% from top levels. In the wake of mounting capitulation pressure, the Poolin multi-asset mining platform recorded the single largest miner outflow from wallets in 2-years, involving 10,000 Bitcoins.
Galaxy Investment CEO Calls for SBF Prosecution, Says Bitcoin Will Recover
Michael Novogratz, CEO of Galaxy Investment Partners, recently weighed in on the latest remarks from Sam Bankman-Fried in his interview at the New York Times’ DealBook Summit, calling for the FTX founder’s prosecution and possible arrest, and asserting that bitcoin and the crypto industry will recover from the damaging effects of the FTX debacle.
Bitcoin Family Says They Are Moving $1M Crypto to Decentralized Exchanges After FTX Collapse
Just over five years ago, Bitcoin.com News <a href="https://news.bitcoin.com/minimalist-family-sells-everything-for-bitcoin-hoping-it-pays-off/">reported</a> on the Taihuttu family after they decided to sell their home, children’s toys, and vehicles so they can accumulate bitcoin (<a href="https://markets.bitcoin.com/crypto/BTC" target="_blank">BTC</a>). On Wednesday, the patriarch of the family, Didi Taihuttu, <a href="https://www.cnbc.com/2022/11/30/bitcoin-family-moving-more-than-1-million-into-dexs-after-ftx-collapse.html">spoke</a> with CNBC and explained that the family is moving $1 million in crypto assets to dex protocols following the FTX collapse.
Bitcoin Depot Says SPAC Merger Will Continue As Planned After Solid Revenue Growth
According to a <a href="https://www.sec.gov/Archives/edgar/data/1901799/000119312522295645/d379038dprer14a.htm#toc379038_40" target="_blank">new filing</a> with the U.S. Securities and Exchange Commission on Dec. 1, crypto ATM operator Bitcoin Depot said it "remains on track to complete its previously announced business combination with GSR II Meteora Acquisition Corp."
KuCoin Draws Ire for Sky-High Yields on Bitcoin Dual Investment Earn Products
There was a time when having sky-high annual percentage rates on crypto yield products felt like the best way to drive adoption. That time has passed.
European Central Bank Says ‘Bitcoin is Rarely Used for Legal Transactions’, This On-Chain Data Suggests Otherwise
Bitcoin (BTC) will soon embark on “a journey to irrelevance,” and is mostly used for illegal purposes, the European Central Bank (ECB) has claimed. But according to one on-chain expert, the claim does not hold water.
Over 10K Bitcoin (BTC) Moved To Crypto Exchange, Are Miners Selling?
Bitcoin price rallied after Fed Chair Jerome Powell hinted at slower rate hikes in December and upcoming sessions. The BTC price hit a high of $17,194 with an over 200% jump in trading volume. On-chain data indicates that miners facing financial issues are indeed selling their Bitcoin holdings, with Bitcoin hashrate decreasing continuously due to declined mining activity.
Breaking: CFTC Chair Behnam Shifts Stance, Says Only Bitcoin Is a Commodity, Not Ethereum
The U.S. Commodity Futures Trading Commission (CFTC) has been publicly advocating for quite some time that both Bitcoin and Ethereum (ETH) are commodities. However, that regulatory assessment appears to have changed radically yesterday.
Bitcoin Whales Accumulated Over $800 Million in $BTC in Under a Week
Bitcoin ($BTC) whales have accumulated over $800 million worth of the flagship cryptocurrency in only five days as a selling trend for large investors is reversing, which could signal growing confidence in the market.
