February 2024 - CryptoCurrencyWire

WednesdayFeb 28, 2024 9:00 am

How the Upcoming Bitcoin Halving Could Affect the Crypto Industry

Every few years, a significant event captivates the crypto world: Bitcoin halving. This eagerly anticipated occurrence slashes the rewards for Bitcoin miners in half, directly impacting the rate of production and the available supply. With the upcoming halving scheduled for 2024, speculation is mounting about its potential effects on the wider crypto market. The looming question is: Will prices soar due to the reduction in new coin supply, or will the dwindling rewards undermine the crypto’s mining infrastructure? While the exact outcomes are uncertain, one thing is certain—this year’s halving will reverberate throughout the industry. As enthusiasts and investors eagerly…

MondayFeb 26, 2024 9:00 am

Coinbase Removes UTXO, Bitcoin from Merchant Platform

Leading cryptocurrency exchange Coinbase Global Inc. (NASDAQ: COIN) has made a decision to discontinue its support for Unspent Transaction Output (UTXO) and native Bitcoin from its merchant platform, Coinbase Commerce. For years, Coinbase Commerce has been a go-to choice for merchants interested in accepting payments in various cryptocurrencies, including Bitcoin. The platform has provided merchants with user-friendly tools such as hosted checkout, eCommerce options, payment buttons and invoicing via its API. Coinbase head of product Lauren Dowling announced the decision on X on Feb. 18, 2024, noting that the move was prompted by difficulties faced while trying to integrate new…

FridayFeb 23, 2024 9:00 am

BlackRock CEO Hints at XRP ETF Feasibility

BlackRock has sparked curiosity within the crypto community by suggesting the possibility of introducing an exchange-traded fund (ETF) based on XRP. Although there’s no official confirmation of immediate plans for an XRP spot ETF filing, speculations have surged after enigmatic remarks from BlackRock CEO Larry Fink along with its association with other crypto ETF proposals. Fink’s reticent answer in a recent interview — “I cannot discuss that” — in response to questions about an XRP ETF, was taken by XRP investors as a possible sign that BlackRock is thinking about the idea, which might boost the XRP market. However, the…

WednesdayFeb 21, 2024 9:00 am

Peter Thiel’s VC Fund Injected $200M into Cryptos Before Recent Bull Run

Founders Fund, a venture capital (VC) firm established by Peter Thiel, has once again shown interest in the crypto market, investing in ether and Bitcoin, sources report, suggesting a resurgence of attention toward cryptocurrencies in Silicon Valley. The company set aside $200 million to purchase cryptocurrency tokens in the late summer/early fall of last year. The investment was evenly split between ether and Bitcoin, the two leading cryptos, according to sources familiar with the matter. The previously undisclosed investment by the renowned Silicon Valley VC company highlights the return of institutional investors to digital assets and token investments, a strategy…

FridayFeb 16, 2024 9:00 am

Bitcoin Breaches $50,000 Level as Bull Run Continues

Bitcoin surged above the $50,000 mark on Monday, Feb. 12, 2024, reaching its highest point in more than two years. According to data from Coin Metrics, the price of the leading crypto rose by 4% to $50,168.36. Earlier in the day, it peaked at $50,334.00, marking its highest point since December 2021. Meanwhile, ether also experienced gains, rising by more than 5.5% to $2,643.80, reaching its highest point since Jan. 12, 2024, when it hit $2,638.62. Commenting on the significance of Bitcoin surpassing the $50,000 milestone, Antoni Trenchev, a cofounder of Nexo, a crypto services company, noted that although the…

WednesdayFeb 14, 2024 9:00 am

Reports Suggest Cryptocurrency Unit at SEC Could See Attorney Exodus

A Feb. 9, 2024, report by Charles Gasparino, a Fox Business contributor, has hinted at the imminent departure of experienced legal professionals from the United States Securities and Exchange Commission’s (SEC) digital assets and cyber unit. According to Gasparino, there has been a rise in resumes circulating among current SEC employees, suggesting a desire to explore other opportunities. This comes amid growing dissatisfaction within the cryptocurrency industry regarding the perceived stringent approach of Gary Gensler, the commission’s chair, toward companies operating in the sector. Eleanor Terrett, a journalist at Fox Business, recently disclosed that the commission is pursuing a record-breaking…

MondayFeb 12, 2024 9:00 am

Thailand Announces VAT Exemption to Lure Crypto Traders

Thailand’s finance ministry recently announced plans to waive value-added tax, or VAT, on transactions involving digital assets, demonstrating the country’s efforts to become a major player in the market. The move intends to support the Thai digital asset sector and promote the use of digital assets for fundraising, as reported in a recent Bangkok Post article. To facilitate this, the ministry has lifted the 7% VAT requirement on income from digital tokens and crypto trading, effective Jan. 1, 2024. The VAT exemption has no set expiration date, offering dealers and investors involved in the digital asset realm a long-lasting incentive.…

FridayFeb 09, 2024 9:45 am

Report Shows Crypto Hacks Reduced by 98% in 2023

Last year, blockchain security was significantly developed, marked by a considerable $50 billion decrease in lost cryptocurrency assets. The decline reflects an evolution toward more robust security measures and the maturity of the decentralized finance (defi) network. According to the year-end report released by the cryptocurrency security company Hacken, the money lost to scams and hacks decreased significantly, totaling $1.9 billion. This decline differs from prior years, suggesting that the sector has made significant progress in fortifying security procedures and effectively addressing vulnerabilities. Among the various blockchain platforms, BNB Chain experienced the highest number of attacks, totaling 214, followed by…

WednesdayFeb 07, 2024 10:30 am

FTX to Repay Clients Fully but Exchange Won’t Reopen

Sam Bankman-Fried’s defunct crypto exchange FTX disclosed in a recent court session that it intends to fully reimburse its clients. Bankman-Fried was convicted last year for fraud and embezzling client funds before the exchange’s demise in 2022. The reimbursement, however, hinges on the precise moment FTX officially filed for bankruptcy, a time coinciding with market instability. Judge John Dorsey of the United States Bankruptcy Court granted preliminary approval for that particular date. During the hearing, Kris Hansen, the legal representative for the exchange’s creditor committee, stated that many claims relied on currencies that saw substantial devaluation in the tumultuous time…

MondayFeb 05, 2024 9:00 am

Crypto Owners in 145 Nations Can Now Use Visa to Make Withdrawals

Leading global payment company Visa has introduced a new way to convert cryptocurrencies into fiat money without the need for centralized exchanges. In a major move announced on Jan. 30, 2024, Visa partnered with Web3 infrastructure vendor Transak to integrate crypto payments and withdrawals into its Visa Direct product.Users can now take out crypto straight from wallets such as MetaMask onto a Visa debit card. The integration, which is already in effect, allows for frictionless crypto-to-fiat trades at any of the 130 million Visa merchant locations worldwide. Through the partnership, customers from 145 countries including the UAE, Cyprus, Singapore, Malta,…