Tag: Digital

Galaxy Digital CEO Mike Novogratz predicts ETFs will drive Bitcoin adoption

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Mike Novogratz, CEO of Galaxy Digital, recently shared his insights on Bitcoin’s future and the role of Exchange-Traded Funds (ETFs) in boosting retail demand for digital assets. During an interview with Forbes, Novogratz highlighted the significant impact of traditional finance in driving Bitcoin’s next growth phase. His optimism follows the U.S. Securities and Exchange Commission’s approval of the first U.S.-listed spot bitcoin ETFs, a move he believes could mark the beginning of a new era for institutional and retail engagement in the cryptocurrency sector. ETFs are anticipated to play a…

Bitcoin falls short as global digital currency, ECB says

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Economists with the European Central Bank (ECB) contend that Bitcoin’s (BTC) limited usage disqualifies it as a legitimate form of currency. Zero value On Feb. 22, ECB director general for market infrastructure and payments Ulrich Bindseil, along with the bank’s advisor for market infrastructure and payments, Jürgen Schaaf, published a co-authored blog post titled: “ETF Approval for Bitcoin – the Naked Emperor’s New Clothes.” The two economists tee off by rebuking U.S. regulators who in January approved spot exchange-traded funds (ETFs) for Bitcoin. “For disciples, the formal approval confirms that…

ECB Economists: Bitcoin Fails to Become Global Decentralized Digital Currency, BTC’s Fair Value Is Still Zero

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The European Central Bank (ECB) has published a blog post claiming that “bitcoin has failed to fulfill its original promise to become a global decentralized digital currency.” The ECB economists who authored the post added that bitcoin’s fair value is still zero and bitcoin transactions are “still inconvenient, slow, and costly.” Moreover, they asserted that […] Original

Lejilex and Crypto Freedom Alliance of Texas Sue SEC for Unlawfully Targeting the Digital Asset Industry

Lejilex and the Crypto Freedom Alliance of Texas, a crypto nonprofit, have teamed up to introduce a complaint against the actions of the SEC towards actors in the digital asset industry in America. The complaint alleges that the SEC has no regulatory powers over these crypto companies, having usurped functions not given to it by […] Source CryptoX Portal

Digital Yuan Now Used to Complete Car Prepurchase Payments

The digital yuan, China’s central bank digital currency (CBDC), is being used as a security element in car prepurchase payment settlements. According to local media reports, a pilot test that allows customers to pay for their cars with digital yuan was established in early February in Shenzhen, and several customers are already purchasing their vehicles […] Source CryptoX Portal

Marathon Digital (MARA) to Start ‘Slipstream’ to Make Complex Bitcoin Transactions Faster

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“By default, Bitcoin nodes frequently exclude large and non-standard transactions from Bitcoin’s mempool, even if these transactions adhere to the Bitcoin network’s consensus rules,” said Marathon. “As a result, complex Bitcoin transactions are often delayed or unprocessed. To encourage experimentation and development on Bitcoin and to enable and expedite the processing of large or complex transactions that comply with Bitcoin’s protocol, Marathon has launched Slipstream.” Original

South Korean Province Gyeonggi Uses Digital Tracking to Collect $4.6M From Crypto Tax Evaders

The process involved using the local registration number of violators or delinquents, as they are referred to in South Korea, held by local governments. This revealed the mobile numbers of the violators, which were then used to track the linked accounts on crypto exchanges. The system reduced the previous six-month long process of requesting case-to-case information from crypto exchanges to a mere 15 days. Source

Former Fidelity Digital Assets Head Joins Advisory Board of Ethereum L2 Layer N

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Asia’s family offices increase focus on digital assets amid growing market interest

Family offices in Asia are increasingly focusing on digital assets, with many planning to increase their investments in this sector. According to a Feb. 19 article from Nikkei Asia, Zann Kwan, the managing partner and chief investment officer at Revo Digital Family Office, has highlighted a growing trend among family offices in crypto. The changing strategy aims to diversify portfolios and potentially improve returns, covering both direct and indirect investments in cryptocurrencies, crypto funds, structured products, and direct private equity investments. The article added that despite digital assets constituting less…

Bitcoin drives record $2.4b weekly digital asset investment inflows

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Bitcoin was a pacesetter as the U.S. dominated inflows to crypto-based products between Feb. 12 and Feb. 16, with 2024 YTD numbers hitting $5.2 billion. Digital asset investment vehicles took in $2.4 billion weekly, setting a record for weekly flows and returning assets under management (AUM) to levels last seen in December 2021 at the peak of crypto’s previous bull cycle. Total AUM rose to a 780-day high at $67 billion. CoinShares data showed that Bitcoin (BTC) and the U.S. accounted for about 99% of the week’s inflows, signaling demand…