Gambaryan, who is a U.S. citizen and Binance’s head of financial compliance, was detained in Nigeria alongside British-Kenyan regional manager for Africa, Nadeem Anjarwalla, in February. The company, alongside the executives, was given anti-money laundering charges as well as tax evasion charges from Nigerian authorities almost a month later. Source
Bitcoin stabilized around the $58,000 mark after the U.S. Federal Reserve kept the benchmark interest rate unchanged on Wednesday. Chair Powell said the economy is too strong to cut rates while ruling out increases despite disappointing inflation figures. Having lost the $60,000 support level late on Tuesday, BTC fell as low as $56,500 yesterday, with U.S. spot ETFs seeing outflows of $563.7 million, the highest daily figure since the funds listed in January. At the time of writing bitcoin was priced at $58,282, up 1.4% over 24 hours. The digital…
As is the case with all emerging asset classes with a small market cap, the cryptocurrency is more likely to experience higher volatility due to new capital flows, the note said. “However, as the asset class matures and its total market cap grows, the inflow of capital is expected to have a smaller impact because it will be flowing into a larger capital base.” Source
The recent plummet in Bitcoin’s value below the $60,000 mark has sparked widespread speculation within the crypto community, raising questions among investors and market watchers about the future direction of its price. Marco Johanning, a well-known crypto analyst and founder of The Summit Club, took to X (formerly Twitter) to provide his insights on the current market conditions and what might be expected next. According to Johanning, the recent price action does not signify a market downturn but rather a correction within an ongoing bull market. He emphasizes, “Bitcoin lost…
“Many of these interested firms – whether we’re talking about pensions, endowments, sovereign wealth funds, insurers, other asset managers, family offices – are having ongoing diligence and research conversations, and we’re playing a role from an education perspective,” Mitchnick said. And the interest is not new: BlackRock has been talking about bitcoin to these sorts of institutions for several years, he said. Source CryptoX Portal
MicroStrategy has announced plans to launch a decentralized identity solution on the Bitcoin (BTC) network that stores and retrieves information using Ordinal-based inscriptions. MicroStrategy executive chairman Michael Saylor announced the solution, named ‘MicroStrategy Orange,’ at the company’s Bitcoin For Corporations conference on May 1. Saylor explained that the solution’s purpose is to provide trustless, tamper-proof, and durable decentralized identities by solely utilizing the public Bitcoin blockchain. “[Its aim is to] deliver trustless, tamper-proof, and long-lived decentralized identities using only the public Bitcoin blockchain as a data source,” according to an unauthorized draft of the solution released…
“One popular strategy among traders is to sell out-of-the-money call options at higher strike prices, like the $80,000 mark set for the end of May. These strikes are beyond the current high range and are less likely to be exercised, allowing traders to collect premiums while reducing their risk exposure,” Wintermute said in a note shared with CoinDesk. Source
As summer looms, CryptoQuant warns that Bitcoin miners could face significant challenges ahead, particularly if prices fail to recover substantially during the warmer month. Despite Bitcoin‘s price dipping below the $58,000 mark and prompting weaker investors to sell at current levels, major capitulation among Bitcoin miners has yet to begin. CryptoQuant head of research Julio Moreno said in an interview with crypto.news that the network hashrate remains slightly higher than pre-halving levels, noting that miners “can still make a profit” with “relatively efficient equipment.” Moreno says the profitability is still…
Bitcoin (BTC) has been battered by a relentless bear market over the past month, with its price tumbling 20% from its record highs. However, amidst the carnage, glimmers of hope emerge as prominent analysts predict a potential bottom forming around the current $57,000 mark. Tough Opening Month For Bitcoin The start of May has not been kind to Bitcoin. The once-dominant cryptocurrency has seen a steady decline, plunging back to levels last witnessed in March before its monumental surge to $73,700. This recent price drop represents the most significant decline…
CoinspeakerBitcoin Dominance Peaked, Says Analyst, Altcoins to Take Charge? The world’s largest cryptocurrency Bitcoin has come under strong selling pressure extending its weekly losses to more than 10%. Soon after the FOMC meeting on Wednesday, May 1, Bitcoin (BTC) price tanked another 5% dropping to the lows of $56,500, before bouncing back partially. Popular crypto analyst Michaël van de Poppe recently stated that the “Bitcoin dominance has already peaked” while it’s time for altcoins to shine. “Altcoins start to wake up in their Bitcoin pairs, which means that the rotation…