BTCNews

A federal judge has dismissed the U.S. Securities and Exchange Commission’s (SEC) lawsuit  against Richard Heart, the founder of HEX, PulseChain and PulseX, ruling that the agency lacked jurisdiction because the project did not specifically target U.S. investors. “The relevant online communications described in the Complaint during the offer periods consist of untargeted, globally available information,” Judge Carol Bagley Amon wrote in her ruling. “The SEC failed to plead sufficient facts to suggest that Heart’s online statements were purposefully directed to the United States rather than a global audience.” Under U.S. securities law, the SEC must prove that a defendant intentionally engaged with the U.S. market, but the court found Heart’s communications were “untargeted, globally available information,” which failed to demonstrate a deliberate effort to solicit U.S. investors, and noted that the tokens were not available on U.S. exchanges. The court also ruled that the parti...

U.S. President Donald Trump will host a crypto summit on March 7, the White House announced. White House Crypto and AI Czar David Sacks and Bo Hines, the executive director of a working group on digital assets, will run the meeting, though Trump will speak at the summit, a late Friday press release said. "Attendees will include prominent founders, CEOs, and investors from the crypto industry, as well as members of the President's Working Group on Digital Assets," the release said. The summit will come just about a month after Sacks, alongside congressional leaders, gave his first public remarks as Trump's crypto czar. "We want to keep that innovation onshore in the U.S.," he said at the Feb. 4 press conference. "Financial assets are destined to become digital, just like every analog industry has become digital, and we want that value creation to happen in the United States, rather than giving it away to other countries." The White House did no...

XRP and dogecoin (DOGE) plunged over 10% to lead losses among crypto major as confirmation of fresh U.S. tariffs on China hit Asian markets on Friday, adding to an already tumultuous week for cryptocurrencies. Bitcoin (BTC) dropped 7% to near $79,000 for the first time since November, down nearly 30% since its January peak of above $108,000. Ether (ETH), Cardano’s ADA and BNB Chain’s BNB showed similar woes with a slide of at least 9%. Overall market capitalization fell 8% to $2.7 trillion, reversing all advances since U.S. President Donald Trump was elected in early November. The broad-based CoinDesk 20 (CD20) dropped nearly 9%. A solid earnings from Nvidia on Wednesday was not enough to offset the onsetting market gloom as global equities faltered on a combination of renewed tariff concerns, a slowing economy and overstretched positioning, which has naturally spilled over to crypto given BTC's high correlation with the S&P 500 index, traders say. “On a YTD basis, ex-BTC ...

MetaMask, the popular self-custodial crypto wallet for the Ethereum (ETH) network, shared a flurry of announcements on Thursday, aimed at improving its wallet's user experience. Part of Metamask's revamped roadmap includes adding smart contract capabilities to its current wallet. At the moment, MetaMask is an Externally Owned Account (EOA), a type of wallet that is controlled by a public and a private key. One of the main downfalls with EOAs is that it is subject to human error, meaning if you forget your private key, you lose your crypto holdings in that account forever. The other type of wallet that exists on Ethereum are Contract Accounts (CAs), which are controlled by code and have recovery mechanisms in place and security checks for verifying transactions. In a blog post shared during ETHDenver, the largest North American Ethereum conference, the MetaMask team said “smart-contract-based accounts allow us to solve a number of problems: allowing new powerful uses of the a...

For decades, your investment portfolio has revolved around a key academic idea that hasn’t held up very well: efficient markets. There’s a direct line from the efficient markets theory of Eugene Fama in the 1960s to modern portfolio theory. It paved the way for index funds, a strategy that has not only weathered market cycles but also become the default for managing pensions and retirement accounts. As we step into a new era of digital finance, tokenized assets may offer a way to broaden our investment horizons in ways that traditional models have overlooked. The genesis of modern portfolio theory Index fund investing didn’t arise by chance. In the early 1970s, amid vigorous debates over market efficiency, Burton Malkiel’s seminal work advocating index funds in 1973 (in his book “A Random Walk Down Wall Street” ) was embodied in John Bogle’s launch of the Vanguard S&P 500 fund in 1975. This cemented a strategy that focused on broad diversification and minimal trading. Astonish...

Bitcoin's (BTC) prolonged range play above $90K has concluded bearishly this week, and how? The 12.6% drop observed in the first three days of the week (per UTC hours) marks the largest decline since the FTX bankruptcy in November 2022, according to data from TradingView. The sell-off is consistent with CoinDesk's analysis earlier this month, which noted investor disappointment over the lack of swift action from President Donald Trump's administration on creating the promised national BTC reserve and tightening fiat liquidity conditions. Institutional demand for the largest cryptocurrency and its second-largest peer, ether (ETH), weakened , pushing the CME futures market closer to backwardation, a market condition where spot prices are higher than prices for futures. Additionally, Nasdaq, the Wall Street's tech-heavy index, has also come under pressure, adding to BTC's woes. The question now is, what next? The path of least resistance appears to be on the dow...

Artificial intelligence (AI) firm CoreWeave is planning to file for a public listing in the U.S. within a week, according to a Bloomberg report . The cloud computing firm wants to raise around $4 billion from the listing, the report said, citing people familiar with the matter. It is targeting a valuation of over $35 billion, the report added. CoreWeave was not immediately available for comment. On Wednesday, bitcoin mining firm Core Scientific and CoreWeave said they were planning a $1.2 billion data centre expansion in Texas. CoreWeave's IPO plan is the latest in a series of U.S. listings by crypto-related firms, including Blockchain.com , BitGo , Gemini and eToro . https://ift.tt/X7I95Zl

Cathie Wood's investment management company ARK Invest snapped up $8.7 million of Coinbase (COIN) shares on Tuesday as the rout in the cryptocurrency saw crypto equities slide. ARK added 41,032 COIN shares to its Next Generation Internet ETF (ARKW), as the crypto exchange's stock fell nearly 6.5% on the day to $212.49 . Meanwhile, ARK sold 98,060 shares of its own spot bitcoin ETF (ARKB), worth around $8.6 million. The rout in the cryptocurrency market on Tuesday, saw bitcoin (BTC) fall to a three-month low below $87,000, brought about record outflows from spot bitcoin ETFs in the U.S. The funds registered net outflows of nearly $940 million, the largest single-day sale since they began trading in January 2024, according to data tracked by SoSoValue . The crypto market slide however presented an opportunity to make its largest COIN purchase in dollar terms since Aug. 5, when it added 93,800 shares for $17.8 million. https://ift.tt/3TINxtF

The GitHub code you use to build a trendy application or patch existing bugs might just be used to steal your bitcoin (BTC) or other crypto holdings, according to a Kaspersky report. GitHub is popular tool among developers of all types, but even more so among crypto-focused projects, where a simple application may generate millions of dollars in revenue. The report warned users of a “GitVenom” campaign that’s been active for at least two years but is steadily on the rise, involving planting malicious code in fake projects on the popular code repository platform. The attack starts with seemingly legitimate GitHub projects — like making Telegram bots for managing bitcoin wallets or tools for computer games. Each comes with a polished README file, often AI-generated, to build trust. But the code itself is a Trojan horse: For Python-based projects, attackers hide nefarious script after a bizarre string of 2,000 tabs, which decrypts and executes a malicious payload. For JavaScript, a r...

Bitcoin (BTC) neared $89,000 in Asian morning hours after a 24-hour low of $86,200, slightly improving market sentiment with major tokens showing signs of a recovery. XRP and BNB Chain’s BNB led a gradual majors rebound Wednesday as traders continue to reel from Tuesday’s carnage — one that saw overall capitalization drop as much as 10% and at least $1.2 billion in losses on bullish bets. XRP rose 3%, while BNB and Solana’s SOL added 5%. Dogecoin (DOGE) and Cardano’s ADA showed a slight 1.2% gain, while Tron’s TRX was down 5% in the past 24 hours. The broad-based CoinDesk 20 (CD20) was down 2%. The move higher was in line with a CoinDesk analysis on Tuesday, as a five-month low in a sentiment index and a large-scale liquidation event indicated assets were likely oversold and could see relief in the short term. Gold fell 1.3% on Tuesday after a profit-taking bout following a record rally where it touched a new high Monday, but rose higher in Asian morning hours Wednesday. Macro Out...

Bitcoin (BTC) dipped below $92,000 during the overnight trade, revisiting levels that have proven resilient multiple times since December. However, the latest move comes with a notable uptick in perpetual futures open interest and price action that indicates seller dominance. The number of open futures bets or open interest in the BTC/USDT pair trading on Binance rose by roughly 12,000 BTC (worth over $1 billion) as BTC's price fell from $96,000 to under $92,000, according to data tracked by Coinglass . An uptick in open interest alongside a price decline is said to represent an influx of bearish short positions. In other words, traders likely opened fresh shorts as the price dropped, perhaps in anticipation of an extended sell-off. The cumulative volume delta (CVD) across both futures and spot markets on the exchange was already negative and has deepened further with the price drop, indicating that selling pressure has outpaced buying activity. The CVD measures the net capita...

Crypto majors slid as much as 14% in the past 24 hours as a Monday sell-off extended into Tuesday amid generally bearish sentiment and the lack of actionable catalysts that may help support the market. Solana’s SOL fell 14% — bringing 7-day losses to over 20% — while dogecoin (DOGE), xrp (XRP) and ether (ETH) fell more than 8%. Bitcoin lost the $92,000 level for the first time since late November, threatening a potential downside break of the multi-week consolidation between $90,000 and $110,000 Overall market capitalization fell 6.6%, while the broad-based CoinDesk 20 (CD20), a liquid index tracking the largest tokens, dropped more than 7%. Traders said the current bearish sentiment could be overblown and macroeconomic decisions were key to support market growth. “Bitcoin, Ethereum, and Solana shouldn't be trading this far below their all time highs,” Jeff Mei, COO at crypto exchange BTSE, said in a Telegram message. “On the U.S. side, inflation concerns and a pause in Fed rat...

The token associated with defunct crypto exchange FTX surged briefly Monday night after Sam Bankman-Fried, the founder and onetime CEO of the platform tweeted for the first time in two years. Bankman-Fried, who was convicted on seven different counts of fraud and conspiracy in November 2023, is serving out a 25-year prison sentence . He's currently detained in the Metropolitan Detention Center in Brooklyn as his lawyers work through an appeal of his conviction. Still, his account on X (formerly Twitter) posted a 10-tweet thread about layoffs, seemingly referencing Elon Musk's push to have federal employees email their work activities from the past week or risk resignations. "I have a lot of sympathy for [government] employees: I, too, have not checked my email for the past few (hundred) days," his thread began . FTT, the token associated with FTX, briefly spiked from roughly $1.55 to $2.07 after his tweets before falling back to around $1.78, according to CoinGeck...

Solana's dominant automated market maker (AMM) Raydium hit back Monday on rumors that major volume driver Pump.Fun was preparing to launch its own AMM. Abandoning Raydium whole hog would be a "strategic miscalculation" for the massively popular — and profitable — memecoin factory, core contributor InfraRAY said in a post on X. He cast doubt on the notion that Pump.Fun could replicate its success if it swaps Raydium out for in-house trading infrastructure. Token investors dumped RAY en-masse this weekend after hawkeyed observers noticed Pump.Fun was apparently testing its own AMM, presumably with the intent to replace Raydium's longstanding liquidity pools as its platform of choice. Such a move would shake up the economics of decentralized token trading on Solana. Right now, Raydium, the chain's largest AMM platform, captures trading fees generated by Pump.Fun memecoins that "graduated" from the launchpad to its own pools. The arrangement — in place si...

Germany's Centre Right Alliance (CDU/CSU) managed to secure the most seats in the country's parliamentary election on Sunday, suggesting a more innovation-friendly environment awaits. Friedrich Merz's CDU/CSU secured 28.52% of the vote while the far-right Alternative for Germany (AfD) secured 20.8% of the vote. There are 733 seats in the German Bundestag and no party secured a majority, so a coalition will be formed. Mark Foster, European Union policy lead at the Crypto Council for Innovation, expects that the Centre Right Alliance will likely support the European Union's approach to digital innovation, he told CoinDesk in an interview ahead of the election. "So I don't expect a massive change overnight from the previous government to the new government in terms of either digital assets policy or digital euro, but perhaps an openness and a willingness to think about how these solutions can possibly help improve the competitiveness of the German and the Euro...

The crypto world just can’t catch a break, and guess who’s back at it? The notorious Lazarus Group , North Korea's most infamous hacker gang, is making headlines again. This time, they pulled off a jaw-dropping $1.4 billion heist from Bybit , with shady connections to the Phemex hack from January. The situation has blown up globally, leaving investors rattled and questioning the safety of their assets. Bybit Hack: Crypto Funds Hopping from One Breach to Another 🤯 Cyber investigators at Arkham Intelligence and on-chain sleuth ZachXBT dropped a bombshell: the same crypto wallets were used in both the Bybit and Phemex hacks. In plain English, the hackers stashed their loot in one spot before firing up their usual money-laundering playbook through decentralized platforms and mixers. ZachXBT even posted a warning on X (formerly Twitter): “ Lazarus Group has just linked the hack of Bybit to that of Phemex directly on-chain by mixing the funds from both attacks in a com...

Solana-based token issuance platform Pump.Fun may soon be launching its own automated market maker (AMM), according to a URL connected to the site. However, there has been no public announcement yet. AMM is a exchange system in crypto markets that makes trading easy by using a liquidity pool of usually, and at least, two tokens. Instead of matching buyers and sellers like a traditional exchange, smart contracts set the prices based on supply and demand and allow trades to be processed without a counterparty. The “amm.pump.fun” shows a swap product in the making with a sell and buy option alongside a deposit and withdrawal function. That’s a first for Pump.Fun, which lets anyone issue a token for less than $2 in capital, after which they choose the number of tokens, theme, and meme picture to accompany it. When the market capitalization of any token reaches $69,000, a portion of liquidity is deposited to the Solana-based exchange Raydium and burned (or when tokens are taken out of s...

Deribit's options market for Solana's SOL token has become active, with whales engaging in bearish bets as the token's price continues to decline ahead of an impending multi-billion dollar unlock. Last week, SOL block trades totaling $32.39 million in notional value crossed the tape on Deribit, representing nearly 25% of the total options activity of $130.74 million. The remainder of the activity comprised screen trades, according to Amberdata. That's the second-highest proportion of block trades to total activity on record. A "block trade" in options refers to a significant, privately negotiated options transaction between two parties involving a large number of contracts. Such trades, typically associated with whale activity, are executed over-the-counter and outside the regular order book and then booked on the exchange, allowing for a minimal impact on the market prices. Options are derivative contracts that give the purchaser the right but not the obli...

Bybit has returned to a 1:1 backing of client assets and has fully closed the “ether gap” it faced after an unprecedented $1.4 billion hack hit the exchange late Friday. The exchange has received 446,870 ether (ETH), worth $1.23 billion at current prices, through loans, large deposits, and ether purchases in the past two days, on-chain tracking service Lookonchain said in an X post on Monday. Address activity suggests more than $400 million were purchased through over-the-counter trading, with another $300 million brought directly from exchanges. Nearly $300 million were sought as loans; the rest are from addresses apparently belonging to crypto funds. ETH prices rose upto 4% over the weekend amid the apparent buying activity, but are down 2% in the past 24 hours as sentiment isn’t fully lifted. Meanwhile, Bybit said late Sunday that all deposit and withdrawal activity had “fully recovered to normal levels — with total deposits “slightly exceeding” withdrawals as on Saturday in a ...

The U.S. Securities and Exchange Commission (SEC) is closing its investigation into major non-fungible token marketplace OpenSea, the platform’s founder and CEO Devin Finzer said on social media. The regulator issued a Wells notice against OpenSea in August 2024, indicating it was planning on pursuing an enforcement action against it. The regulator alleged the platform may have been operating as an unregistered securities marketplace. The SEC’s move comes as the regulator is slated to vote on a deal negotiated with Coinbase to drop its lawsuit against the exchange , which is seen as a boon for the cryptocurrency industry and NFT creators. “This is a win for everyone who is creating and building in our space. Trying to classify NFTs as securities would have been a step backward—one that misinterprets the law and slows innovation,” Finzer posted . Reacting to Finzer’s post, Chris Akhavan, chief business officer of NFT marketplace Magic Eden, suggested it was a victory for the wider ...

The Bybit hacker, supposedly a North Korean entity, is now one of the world's largest ether holders, which may have bullish implications for the cryptocurrency's spot price. According to data from Arkham Intelligence and Coinbase executive Connor Grogan , this malicious actor holds 489,000 ETH, valued at approximately $1.34 billion, constituting about 0.4% of ether's total supply, making it the 14th-largest Ether holder globally. That puts the hacker ahead of the Ethereum Foundation, Ethereum's CEO Vitalik Buterin and Fidelity. It's important to note that the addresses linked to this entity are being closely monitored and backlisted by exchanges, which means the hacker will likely struggle to offload these coins in the market. In simpler terms, the hacked ether supply is likely lost permanently. Furthermore, Bybit, which has reportedly secured a bridged loan from unnamed partners to cover nearly 80% of the ether lost in the Friday hack, will likely need to pur...

Crypto exchange Bitget has transferred 40,000 ether (ETH), worth $105 million, to Bybit, offering crucial support to its industry counterpart in the wake of the over billion-dollar hack suffered by the exchange. The funds transferred are from Bitget's own reserves, not user deposits, which remain securely stored on the platform and can be cross checked through the proof of reserves, the exchange's CEO, Gracy Chen, said in a note shared with CoinDesk, while assuring more support if needed. "At Bitget we strongly believe in supporting the community and everyone contributing towards the growth of crypto," Chen said. A suspected North Korean entity drained approximately $1.4 billion in ether from Bybit on Friday. The hack prompted an unprecedented wave of withdrawal requests from users, with the exchange successfully processing 99% of them, effectively facing a significant market stress test. Part of the stolen funds started to move during Asian afternoon hours on Sa...

Arthur Hayes, BitMEX co-founder and major ether (ETH) holder, asked Ethereum co-founder Vitalik Buterin to rollback the network in order to assist hacked exchange Bybit, which lost nearly $1.4 billion in ether (ETH) on Friday. "@VitalikButerin will you advocate to roll back the chain to help @Bybit_Official. My own view as a mega $ETH bag holder is $ETH stopped being money in 2016 after the DAO hack hardfork. If the community wanted to do it again, I would support it because we already voted no on immutability in 2016 [wh]y not do it again?" Hayes said on X. Buterin was yet to reply as of time of publication. The Bybit hack came into light on Friday when on-chain analyst ZachXBT noted suspicious outflows of over $1.4 billion from the exchange, with the attacker quickly swapping mETH and stETH for ether through a decentralized exchange. The attacker then split 10,000 ETH to 39 different addresses and another 10,000 ETH to nine addresses, Gautham Santhosh, co-founder of Pol...

Bitcoin price started a recovery wave above the $96,500 zone. BTC is rising and might aim for a move above the $98,800 resistance zone. Bitcoin started a decent recovery wave above the $96,500 zone. The price is trading above $97,000 and the 100 hourly Simple moving average. There is a key bullish trend line forming with support near $97,600 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could start another increase if it stays above the $96,400 zone. Bitcoin Price Aims Higher Bitcoin price formed a base above the $94,500 level and started a recovery wave . BTC was able to surpass the $95,000 and $96,400 resistance levels. The price even cleared the $97,500 resistance level. The bulls even pushed the price above $98,500. A high was formed near $98,725 and the price is now consolidating gains. The price is stable above the 23.6% Fib retracement level of the upward move from the $93,370 swing low to the $98,725 high. Bitcoin price is now trading above...

Bitcoin has extended its consolidation below $100,000 since the beginning of February. This price lag has been compounded by a slowdown in bullish sentiment among investors and a slowing euphoria regarding the crypto-positive influences of Trump’s new administration in the US.  Despite this rally slowdown, technical analysis continues to support a bullish long-term outlook for Bitcoin. The current stagnation appears to be a re-accumulation phase for bullish investors; a pattern observed multiple times before major upward moves this cycle. Furthermore, analysis shows that the USDT dominance is going to play a crucial role in triggering the next Bitcoin rally toward $150,000. Bitcoin’s Re-Accumulation Phase And The Role Of USDT Dominance According to a technical analyst (TradingShot) on the TradingView platform, Bitcoin is currently exhibiting an interesting accumulation trend alongside the USDT dominance. The USDT dominance reflects the percentage of the total crypto market c...

In a development that has reignited speculation within the Bitcoin community, GameStop CEO Ryan Cohen has, for the first time in nearly four years, followed a second account on X. Until now, Cohen exclusively followed the official GameStop handle, but as of today, he has added Bitcoin Magazine to his follow list. This comes on the heels of a much-discussed photograph that surfaced two weeks ago showing Cohen with Michael Saylor, Executive Chairman of Strategy (formerly MicroStrategy). Go on king https://t.co/ApTV3WwTaj — David Bailey $0.85mm/btc is the floor (@DavidFBailey) February 20, 2025 Will Gamestop Buy Bitcoin? GameStop has periodically found itself at the center of Bitcoin-related conjecture, particularly since the pandemic era “meme stock” phenomenon. At that time, a theory posted on Wall Street Bets—a popular Reddit forum—proposed that the gaming retailer, viewed by many as a relic of brick-and-mortar retail, was primed for a turnaround. Widespread retail buying prop...

Ethereum has experienced a prolonged consolidation below key resistance levels, struggling to find momentum as it continues to trade sideways. The price has been closing between $2,650 and $2,750 for the past week, creating uncertainty in the short term. With ETH facing selling pressure and unable to reclaim the $2,800 mark, investors are growing concerned about its ability to recover. Despite the recent choppy price action, some analysts believe Ethereum could be gearing up for a bullish move. Crypto expert Carl Runefelt shared a technical analysis on X, stating that Ethereum has been forming a bullish pattern on the daily time frame. If this pattern plays out, ETH could see a strong breakout in the coming days. Ethereum is holding at crucial demand levels, making the next move critical for its short-term direction. If buyers step in and reclaim the $2,800 level, it could signal a trend reversal and open the door for a rally above $3,000. However, failure to hold support could lead...

Bitcoin’s price has gradually increased, climbing from $96,000 to nearly $97,000 as of today. Although still shy of the coveted $100,000 mark, the leading cryptocurrency shows signs of resilience. This recovery is unfolding against the backdrop of mixed market signals, prompting analysts to weigh the potential for continued bullish momentum versus the risk of a near-term pullback. Bitcoin’s Market Momentum at a Crossroads One recent analysis from Onchain Edge, a contributor to CryptoQuant’s QuickTake platform, highlights Bitcoin’s current “critical decision zone.” Using two key indicators—the Taker Buy/Sell Ratio and the MVRV Ratio—Onchain Edge’s findings suggest a market that is not yet overvalued, though caution flags remain. While the overall on-chain data leans more positive, the contrasting signals highlight the precarious position of Bitcoin’s current rally. From a bullish perspective, the MVRV Ratio—an indicator that compares Bitcoin’s market value to its realized value—st...