Month: August 2024

Sovereign Wealth Funds Can Take Bitcoin To $148,000: Researcher

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In the latest episode of the podcast “The Bitcoin Layer,” Daniel Batten, a recognized advocate for Bitcoin, discussed the potential impact of sovereign wealth funds (SWFs) on the Bitcoin price, predicting a rise to over $148,000 per BTC should these funds decide to invest even a minimal fraction of their assets. With $35.7 trillion under management between SWFs and public pension funds, a 1% allocation could have a significant impact on Bitcoin’s valuation. Batten’s analysis hinges on the sheer scale of assets managed by SWFs and public pension funds, noting…

Bitcoin sidechain developers release whitepaper for BitVM2

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Blockchain developers have released a whitepaper for BitVM2, presenting new updates to Bitcoin sidechain technology and introducing a new bridge design. The developers of Bitcoin (BTC) scaling solution BitVM have unveiled its second version, bringing permissionless challenging features and reducing the complexity and number of on-chain transactions required to resolve disputes. In an Aug. 15 announcement on X, Alexei Zamyatin, a co-founder of Build on Bitcoin, a hybrid layer-2 powered by Bitcoin and Ethereum, said the updated version aims to enhance the security of BitVM by allowing anyone to challenge…

Is Ethereum Poised for Inflation? Supply Reaches New High as Staking Takes Off

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While Ethereum hasn’t been quite consistent with its bullish trajectory in the past weeks, its circulating supply has done the opposite. According to data from Ultrasoundmoney, ETH’s circulating supply has skyrocketed to over 120.72 million ETH as of today. Although this increase in supply is not straightforwardly negative for ETH, it still marks a notable shift in the network’s dynamics, fuelled largely by adopting Ethereum’s proof-of-stake (PoS) model. Supply Increase, How And Why? The surge in Ethereum’s total supply to 120.72 million ETH, as shown in the data from Ultrasound.money,…

Bitcache founder Kim Dotcom vows to fight extradition to US

Bitcache and Megaupload founder Kim Dotcom, is determined to resist extradition to the U.S., claiming political persecution and vowing to stay in New Zealand. German-Finnish internet entrepreneur Kim Dotcom, known for his controversial political views, now faces a new challenge as New Zealand’s justice minister, Paul Goldsmith, has signed an order for his extradition to the United States. The move has reignited a legal battle that has spanned more than ten years, with Dotcom and his legal team vowing to fight the decision tooth and nail, per a report from…

Will This Experienced DeFi Founder Save FTM After Taking Over As CTO?

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Dalmas, a seasoned crypto reporter, brings a unique perspective to the industry. His specialization in NFTs, blockchain, DeFi, and blockchain news for NewsBTC, combined with a background in mechanical engineering and over a decade of experience in journalism, has allowed him to craft over 10,000 news and feature articles over the past eight years. His diverse range of topics, including technology, Forex, and finance, reflects his comprehensive understanding of the crypto landscape. His technical expertise and analytical skills have been recognized and featured by leading news outlets such as Investing.com,…

NYSE Scrubs Plan to List BTC ETF Options

The SEC extended its review period multiple times after publishing the NYSE proposal for public comment in February 2024, eventually initiating formal proceedings in April, but the proposal was withdrawn by the exchange before a final decision was made. Source

Illicit crypto activity drops 20%, but stolen funds surge, Chainalysis says

Analysts at Chainalysis say illicit blockchain activity has dropped nearly 20% YTD, yet stolen funds and ransomware inflows continue to rise. Illicit crypto activity has declined nearly 20% year-to-date, a positive sign for the growing legitimacy of the sector, according to a mid-year report from blockchain analytics firm Chainalysis. Despite the decline, there are still concerning trends in specific types of cybercrime, the firm noted, saying that funds stolen in crypto heists nearly doubled to $1.58 billion and ransomware inflows rose by 2% to $459.8 million in the first half…