Day: September 18, 2023

Bitbuy enters partnership with Canada’s largest Bitcoin ATM Provider

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WonderFi has announced a strategic partnership between its subsidiary, Bitbuy Technologies Inc., and Localcoin, the largest Bitcoin ATM provider in Canada. Under this partnership, Bitbuy’s digital asset services will now cover up to half of the Bitcoin ATMs in the country. The No. 2 sector power According to WonderFi, Canada continues to hold prominence in the crypto ATM arena, boasting a total of 2,747 ATMs, second only to the U.S. Through its subsidiaries, WonderFi Technologies currently provides 1.6 million Canadians with access to regulated crypto trading and staking through subsidiaries…

Bitcoin mining firm Hut 8 gets judicial approval for USBTC merger

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Canadian Bitcoin mining giant Hut 8 secured pivotal judicial approval for its merger with USBTC.  The British Columbia Supreme Court has granted the final judicial go-ahead for the union between Canadian Bitcoin miner Hut 8 and U.S. Bitcoin Corp (USBTC). Scheduled to culminate by year’s end, this merger is poised to reshape the landscape of Bitcoin mining and high-performance computing. We are pleased to share that the Supreme Court of British Columbia has issued a final order approving the merger of equals between Hut 8 and USBTC! 🎉The full details…

Bitcoin investors are bullish on the US Fed’s $100B loss

The U.S. Federal Reserve made a significant announcement on Sept. 14, revealing accumulated losses of $100 billion in 2023. What’s more, this situation is expected to worsen for the Fed, according to Reuters. But for risk assets like Bitcoin (BTC), this may actually be a blessing in disguise.  The Fed in the red The primary reason behind this financial setback is that the interest payments on the Fed’s debt have surpassed the earnings generated from its holdings and the services it provides to the financial sector. As a result of this…

Digital assets will be a ‘sleeper issue’ for 2024 elections

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Tom Emmer, majority whip of the United States House of Representatives and crypto proponent, says that digital assets have become a “sleeper issue” in U.S. politics, both at the state and federal levels. Speaking to Cointelegraph at the Permissionless II conference in Austin, Texas on Sept. 11, Emmer said certain candidates running for office in 2024 may underestimate the impact of issues surrounding crypto and blockchain. He pointed to financial privacy concerns, specifically mentioning government oversight of central bank digital currencies, or CBDCs. “It’s politically potent regardless of your political…

SEC accuses Binance of noncooperation, court unseals case documents: Law Decoded

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The legal struggle between crypto exchange Binance and the United States Securities Exchange Commission (SEC) continues. The SEC has accused Binance.US of noncooperation in the ongoing investigation. The agency points out that Binance.US’s holding company, BAM, has produced only 220 documents during the discovery process. Many of those materials “consist of unintelligible screenshots and documents without dates or signatures,” the SEC said. The regulator added that BAM has refused to produce essential witnesses for deposition, instead agreeing only to four depositions of witnesses it has unilaterally deemed appropriate.  Meanwhile, Magistrate…

Bitcoin Open Interest Rises By $1.8 Billion As BTC Breaks $27,000

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Data shows the Bitcoin Open Interest has shot up by $1.8 billion as the cryptocurrency’s price has broken the $27,000 level. Bitcoin Open Interest Has Exploded During The Past Day The “Open Interest” indicator keeps track of the total amount of Bitcoin futures contracts currently open on all derivative exchange platforms. When the value of this metric rises, it means that the investors are opening up new positions on the market right now. Generally, the cryptocurrency becomes more likely to display volatility when this happens, as new contracts usually imply…

Citi Token Services will provide payments, liquidity to institutional customers

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Citigroup has introduced Citi Token Services, a private, permissioned blockchain that offers cross-border payments, liquidity and automated trade finance solutions to institutional clients. The new services “will integrate tokenized deposits and smart contracts into Citi’s global network,” according to a statement.   Citi Treasury and Trade Solutions (TTS), which has banking licenses in over 90 countries, has completed two pilots of the service. It worked with Danish shipping company Maersk and an unnamed canal authority on a program that made instant payments to service providers via smart contracts, reducing transaction…

Hearing in Washington DC over BAM motion to compel starts now

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Binance CEO Changpeng Zhao played it cool in the hours leading up to the hearing in the District Court for the District of Columbia on Sept. 18, posting a picture of branded merchandise with a cheery message about the company’s interns.  He is likely to pay close attention to the court proceedings, however, as the disagreement between the United States Securities and Exchange Commission (SEC) and Binance.US is at a high pitch after a week of adversarial filings. Magistrate Judge Zia Faruqui is holding a hearing on the SEC’s motion…