Crypto News
Bitcoin Miner Hut 8 Buys $100M BTC Boosting Total Total Stash to $1B
Another bitcoin miner, Hut 8 (HUT), has decided to pull the trigger on buying bitcoin in the open market, following the likes of MicroStrategy (MSTR) and MARA Holdings (MARA).The Miami, Florida-based company said it bought about 990 bitcoin for an average price of $101,710 each. The latest purchase will bring the amount of bitcoin held in Hut 8's reserve to 10,096, or about $1 billion in market value, and make it among the top 10 largest corporate owners of bitcoin, the company said in a statement on Thursday. The miner is planning to use the reserve through options strategies, pledges, sales or other strategies, according to the statement. Hut 8's CEO, Asher Genoot, told CoinDesk that his firm will be...
U.S. Listed Spot Bitcoin ETFs on the Verge of Surpassing Gold ETFs
The year 2024 has marked a significant breakthrough for digital assets, particularly for bitcoin (BTC), driven by increased institutional adoption. This shift has occurred through two key avenues: first, the integration of bitcoin into public balance sheets as a treasury asset, and second, the success of U.S. spot-listed exchange-traded funds (ETFs) that have amassed over 1 million BTC.A report from K33 Research reveals that U.S.-listed bitcoin ETFs have surpassed U.S.-listed Gold ETFs in terms of assets under management (AUM), including leveraged products such as futures-based ETFs. As of Dec. 17, Bitcoin ETFs reached assets under management (AUM) worth $129.25 billion, edging out Gold ETF AUM at $128.88 billion, according to Vetle Lunde, analyst at K33 Research.However, when comparing spot-based products...
Australia Securities Regulator Sues Binance Over Alleged Consumer Safeguard Failures
"Crypto derivative products are inherently risky and complex, so it is critical that retail clients are classified correctly,” an ASIC official said.Source link
Facebook Wins Reprieve as Court Restrains Nigerian Regulator’s $38.55 Million Demand
The Federal High Court in Lagos has granted an interim order restraining the Advertising Regulatory Council of Nigeria (ARCON) from demanding $38.55 million (NGN60 billion) from Facebook Nigeria Operations Limited for an alleged violation. Justice Yellim Bogoro made the order on Dec. 12, 2024, following a motion ex parte filed by Facebook. Facebook sought twoSource link
Trump-Backed World Liberty Financial Swaps Its cbBTC for WBTC After Sun Joins as Adviser
World Liberty Financial, backed by the family of U.S. President-elect Donald Trump, on Wednesday exchanged about $10 million worth of Coinbase's (COIN) wrapped bitcoin, cbBTC, for rival WBTC.Wrapped bitcoin is a form of the world's largest cryptocurrency that can be used in decentralized finance (DeFi) on blockchains other than Bitcoin.Coinbase introduced cbBTC in September, and in November said it would delist WBTC, citing its listing standards. That action prompted BiT Global, a custodian involved in WBTC, to sue the crypto exchange to prevent the removal. A court ruled against BiT Global on Wednesday.There's one more link in the chain: Justin Sun, the founder of the Tron blockchain and one of CoinDesk's Most Influential 2024. In its defense, Coinbase cited BiT...