Day: March 10, 2025

US DOJ conducting Silk Road BTC liquidation: Bitcoin Magazine CEO

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Bitcoin Magazine CEO David Bailey has speculated that the U.S. Department of Justice might be rapidly conducting Silk Road BTC liquidations. In a Mar. 10 post on X, Bailey suggested that Silk Road liquidations could be happening despite U.S. President Donald Trump’s pro-Bitcoin stance, potentially contributing to the recent downturn in BTC’s price. Bailey’s claim sparked discussion within the cryptocurrency community. If the DOJ has been liquidating America’s bitcoin with haste (in defiance of the President) ever since getting court approval to do so 3 months ago… then Bitcoin’s price action…

Utah drops Bitcoin reserve clause from its Blockchain and Digital Innovation Amendments bill

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A clause in Utah’s Blockchain and Digital Innovation Amendments bill, which would establish a Bitcoin reserve, was dropped right before the final Senate vote. Referred to as House Bill 230, Utah’s State Senate passed the bill with a 19-7-3 vote on March 7. However, this version no longer includes the Bitcoin reserve clause. The bill is now headed to Governor Spencer Cox for approval. Initially, the bill proposed allowing Utah’s state treasurer to invest up to 5% of certain public funds into Bitcoin and other qualifying digital assets. Utah was…

Bitcoin ETFs record fourth consecutive week of outflows, amid macroeconomic concerns

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Weekly flows for spot Bitcoin ETFs remained negative for the fourth consecutive week as macroeconomic factors continued to weigh heavily on investor sentiment. According to data from SoSoValue, the 12 spot Bitcoin ETFs recorded another week of outflows from March 3-5, with nearly $800 million exiting the funds. This follows a record outflow week that saw over $2.61 billion in redemptions, extending the negative flow streak to four consecutive weeks with total net outflows exceeding $4.5 billion. Notably, Bitcoin ETFs recorded net negative flows throughout last week, starting with $74.19…

Unknown attacker causes headaches during Pectra upgrade on Sepolia

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An Ethereum developer says the recent Pectra upgrade of the Sepolia testnet ran into errors, which was made worse after an attacker used an “edge case” to cause the mining of empty blocks. Pectra rolled out on its final testnet, Sepolia, at 7:29 am on March 5, but Ethereum developer Marius van der Wijden said in a March 8 post that the team immediately started seeing error messages on their geth node and empty blocks being mined. The error was because the deposit contract triggered the wrong type of event…

Crypto scam uses trade war fears to lure victims, Canadian watchdogs warn

Crypto scammers are using fake news articles and the likeness of government figures to capitalize on trade war fears, according to securities regulators in the Canadian provinces of Alberta and New Brunswick. The Alberta Securities Commission said in a March 7 alert that a “crypto investment scam called CanCap” faked an endorsement from then-Prime Minister Justin Trudeau through a fake news article from Canada’s national public broadcaster, the CBC. “The fake article notes that the Prime Minister is purportedly responding to US tariffs by endorsing an investment program involving digital…

Bitcoin’s ‘Ugly Start’ – Weekend Sell-Off Pushes Price Near $80K

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Bitcoin took another blow on March 10, retreating below $82,000 and sending jitters across the crypto market. The latest loss in value for the world’s top digital asset comes after weeks of decent gains. Traders at the moment are unsure if this is just a temporary hiccup, or the start of a more significant correction. Important Levels To Monitor Arthur Hayes, the chief investment officer at Maelstrom and co-founder of BitMEX, anticipates that Bitcoin may encounter resistance at $78,000. He describes Bitcoin’s dismal showing as an “ugly start” to the…

US dollar plunge powers Bitcoin bull case, but other metrics concern: Analyst

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A weakening US dollar could be bullish for Bitcoin, but two metrics could be cause for concern in the short term, according to Real Vision crypto analyst Jamie Coutts. “While my framework is turning bullish as the dollar plunges, two metrics still raise alarms: Treasury Bond volatility (MOVE Index) and Corporate Bond spreads,” said Coutts in a March 9 post on X. The analyst framed Bitcoin as a “game of chicken” with central banks, presenting a “cautiously bullish” outlook despite these concerning metrics. The US Dollar Index (DXY) has declined…

Lutnick Plays Down Recession Fears at Bitcoin Lingers in 80K Range

Treasury Secretary Howard Lutnick insists the U.S. economy is on solid footing despite concerns from Wall Street that a recession is in the cards. “Absolutely not,” he said on a Sunday edition of Meet the Press when asked if Americans should prepare for a downturn. “There’s going to be no recession in America,” he continued. “It’s like the same people who thought Donald Trump wasn’t a winner a year ago. Donald Trump is a winner. He’s going to win for the American people.” A recession is two consecutive quarters of…

Robinhood to pay $30M to settle US regulator probes

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Online trading platform Robinhood has agreed to pay $29.75 million to settle several probes from the Financial Industry Regulatory Authority (FINRA) related to the company’s supervision and compliance practices. The settlement figure consisted of a $26 million civil fine and $3.75 million restitution to customers, FINRA said on March 7. Robinhood failed to “respond to red flags of potential misconduct,” FINRA said, leading to Anti-Money Laundering and supervisory and disclosure violations. FINRA found that Robinhood Financial failed to reasonably supervise its clearing system despite there being noticeable processing delays due…

Brazil blockchain goes postal, Gemini, Kraken IPO plans and more

Crypto exchange Gemini to file for initial public offering Gemini is reportedly mulling an initial public offering this year, with Goldman Sachs and Citigroup involved in the process. The exchange, founded by billionaire twins Cameron and Tyler Winklevoss, has not made a final decision about the details of the listing, according to a March 7 Bloomberg report, which cited people familiar with the matter. Gemini did not immediately respond to Cointelegraphs request for comment. This comes as the United States Securities and Exchange Commission closed its investigation into Gemini on…