A legal fund for the defense of Tornado Cash co-founders Roman Storm and Alexey Pertsev has received more than $350,675 and public support from Edward Snowden, the former NSA whistleblower. Source
Notorious crypto mixing service Tornado Cash laundered more than half a billion worth of crypto in 2023. Although the U.S. imposed sanctions against Tornado Cash in late 2022, the mixing service is still helping criminals launder hundreds of millions worth of cryptocurrencies. According to data compiled by SlowMist, in 2023 alone, Tornado Cash saw around 314,740 ETH in withdrawals, valuing at around 818.3 million at current prices (or $567.2 million based on 2023 rates). In 2023 alone, we saw 342,042 ETH deposited and ~314,740 ETH withdraw from Tornadocash, followed by…
On-chain data shows the Bitcoin miners have participated in a 3,000 BTC selloff recently, something that may explain the asset’s latest pullback. Bitcoin Miner Reserve Has Taken A Plunge Recently As pointed out by analyst Ali in a new post on X, the BTC miners have participated in some selling recently. The indicator of interest here is the “miner reserve,” which keeps track of the total amount of Bitcoin sitting in the wallets of all miners. When the value of this metric goes up, it means that the miners are…
The United States SEC is showing a clear preference for a cash redemption model in spot Bitcoin ETFs. Notably, Invesco and Galaxy Digital have recently updated their filings to align with this model, indicating a broader industry shift. This development was highlighted on Dec. 14 by finance lawyer Scott Johnsson. The updated S-1 filings of these firms now show a commitment to cash transactions to create and redeem ETF shares. This move signals a significant pivot in handling Bitcoin ETFs, contrasting with the in-kind redemption model proposed by firms like…
Recent reports have revealed that the United States Securities and Exchange Commission (SEC) has implemented a “new regulatory standard” for all Bitcoin Spot Exchange-Traded Fund (ETF) applicants while awaiting approval from the regulatory body. Cash Redemption Model For Bitcoin ETF Applicants Top Bloomberg Analyst James Seyffart took to X (formerly Twitter) to share the latest update by the regulatory watchdog. According to him, every Bitcoin Spot ETF applicant will have to bend their knees to this new model. The SEC’s latest “Cash Redemption Model” came amid the spot Bitcoin ETF…
Bitcoin (BTC) is displaying fresh bull run signals as BTC price strength produces 7% daily gains. BTC/USD 1-hour chart. Source: TradingView BTC price bounces after snap sell-off Data from Cointelegraph Markets Pro and TradingView hints that upside momentum may continue as on-chain metrics reset. Bitcoin “needed to cool off” after hitting $44,000 this month, analysis believes, and after a trip to near $40,000, conditions are improving. In a post on X (formerly Twitter) on Dec. 13, Philip Swift, creator of statistics resource Look Into Bitcoin, showed profit-taking surging as BTC/USD…
As spot Bitcoin exchange-traded fund (ETF) issuers iron out details of their filings with the U.S. securities regulator, it appears that the SEC is steadfast in demanding a “cash” redemption model rather than alternative model proposed by other issuers, such as BlackRock. On Dec. 14 finance lawyer Scott Johnsson said that ETF applicant Invesco has become the latest to bend the knee to using a cash creation and redemption model for its ETF. I think everyone is gonna have to bend the knee to cash creates and redeems. https://t.co/1z9HknHyAG —…
The European Central Bank (ECB) has taken a look at the environmental impact of using banknotes and discovered 16 environmental impact categories. As with cryptocurrency, energy efficiency was a major issue. Banknotes continue to be the most common form of payment at points of sale in the eurozone. The use of cash requires an elaborate physical infrastructure for its production, distribution and eventual retirement. Some of the initial components of banknote production that have an environmental impact. Source: ECB Energy use by ATMs was the biggest contributor to banknotes’ environmental…
Bitcoin is currently witnessing a decline in price, with its value dropping below the $42,000 mark. This movement comes on the heels of a significant uptick in the circulating supply of profitable Bitcoin, prompting a wave of profit-taking among investors. ETC Group’s Head of Research, André Dragosch, highlights this trend, noting an increase in Bitcoin being moved to exchanges for potential sale. Dragosch noted, citing data from Glassnode: Overall exchange balances for bitcoin have clearly picked up, implying a net inflow of coins to exchanges over the past week. More…
GameStop gives CEO complete control to buy stocks from the company’s cash books, however, analysts have given a major red flag on this. Gaming retailer GameStop Corp (NYSE: GME) is taking a shift in its approach while allowing its CEO and chair Ryan Cohen to gain even more control in these struggling times. This includes the ability to use the company’s cash to buy new stocks. In its quarterly report unveiled on Wednesday evening, GameStop disclosed two modifications to its corporate investment strategy. First is that it allows the use…