On Wednesday, Ord.io, the Ordinals explorer, announced a million pre-seed funding achievement to pioneer the expansion of Runes. Leonidas, the founder of Ord.io, stated that the startup is strategically positioning itself to “serve the next generation of bitcoiners.” Ordinals Explorer Ord.io Receives M Boost In 2024, a significant number of startups connected to the […]
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FTX Nets $1.9B in Solana Sale at $64 per SOL, Discount Price Draws Creditor Scrutiny
In a report informed by individuals close to the situation, the FTX estate has successfully liquidated .9 billion by offloading a considerable amount of solana (SOL), including tokens that were not immediately available due to a vesting schedule. Insiders Say FTX Sold Millions of Locked Solana Tokens at a Deep Discount The bankrupt entity formerly […]
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Digital Assets On The Rise: 4th Consecutive Week Nets $66 Million
The digital assets markets experienced a consecutive fourth week of inflows from institutional investors. CoinShares data shows that a portion of the momentum observed can be attributed to an increasing expectation for the authorization of a spot Bitcoin Exchange-Traded Fund (ETF) in the United States.
The aggregate value of assets under management (AuM) has experienced a notable surge, reaching billion, denoting a 15% growth rate since the beginning of September. Nevertheless, investors are displaying a greater degree of prudence compared to their response to Blackrock’s announcement in June.
The latest influx of funds, although possibly associated with the prospective introduction of a spot bitcoin ETF in the US, is very modest in comparison to the inflows witnessed in June.
Coinshares: Digital asset investment products saw inflows for the 4th consecutive week totalling USm. Total AuM has now risen to USbn.
Solana saw a further US.5m inflows last week, bringing year-to-date inflows to USm, making it the most popular altcoin this year so…
— Wu Blockchain (@WuBlockchain) October 23, 2023
Bitcoin Leads Digital Assets: 5 Million Inflows This Year
According to the report, a significant portion of the inflows seen in the previous week amounted to .3 million, representing 84% of the total. This influx was specifically directed towards investment products related to Bitcoin. As a result, the cumulative inflows for Bitcoin products during the current year have reached a total of 5 million.
Solana experienced an additional infusion of .5 million during the previous week, resulting in a cumulative inflow of million for the year. This notable performance positions Solana as the leading alternative cryptocurrency thus far in the current year.
On the other hand, and amidst persisting concerns, Ethereum faced a challenging week as it observed a significant outflow of .4 million. Notably, Ethereum was the only altcoin to encounter a decline in its financial performance during this period.
Other altcoins such as Cardano (ADA) and Binance Coin (BNB) saw small inflows of .1 million and .2 million, respectively.
James Butterfill, the Head of Research at CoinShares, pointed out that the inflows observed in the previous week have not yet achieved the same magnitude as those witnessed earlier this year when BlackRock initially submitted an application for a Bitcoin ETF.
Butterfill said:
“While the most recent inflows are likely linked to excitement over a spot Bitcoin ETF launch in the U.S., they are relatively low in comparison to the initial inflows following BlackRock’s announcement in June.”
Navigating The Digital Asset Landscape: Trends And Caution
Digital assets are becoming more and more popular, and many people are investing in them. However, some investors are being careful about these assets, and we don’t know if they will keep being cautious. We have to wait and see if the market will change and bring new trends or chances for investors in the next few weeks.
The world of digital assets is rapidly growing, with more and more people putting their money into cryptocurrencies and other digital investments. Despite this, some investors are still being careful and not rushing into things.
We can’t predict whether this cautious approach will continue or if the market will surprise us with new trends and opportunities in the weeks ahead. It’s an exciting time in the world of finance, and we’ll have to keep a close eye on how things develop.
(This site’s content should not be construed as investment advice. Investing involves risk. When you invest, your capital is subject to risk).
Featured image from Ledger Insights
Why The Dark Net’s Most Active Market Ditched Bitcoin For Monero
Bitcoin initially became popular as a way to pay for illegal goods on the dark web marketplace the Silk Road. But just recently as cryptocurrencies enter the mainstream media once again, the current most active marketplace on the dark net has ditched Bitcoin in favor of Monero.
Here’s why Bitcoin’s use as a dark web currency is diminishing, and why Monero could see a surge in adoption as the one cryptocurrency the government can’t infiltrate.
Without The Dark Web, The Bitcoin We Know Today Might Not Be
Bitcoin price is now trading at nearly ,000 per coin. The still young cryptocurrency network might not have made it this far, if not for the Silk Road dark web marketplace created by Ross Ulbritch.
Back when no one know what to pay for Bitcoin or had begun widely using it as a currency, it got an early jump start as a means to pay for illegal goods such as drugs, firearms, or explosives.
Bitcoin got a head start as a currency thanks to the Silk Road dark web marketplace | Source: BTCUSD on TradingView.com
Eventually, the Silk Road was taken down, and Bitcoin lived on. Its role as a currency for the dark web has remained, however, until now.
Related Reading | Alleged Silk Road Drug Dealer Arrested For Using Bitcoin For Money Laundering
According to Twitter chatter, the dark web’s most active marketplace, dubbed the White House Market, has given up on Bitcoin for good, and now only accepts the privacy coin Monero. But why?
For the first time on the darknet, the most active market does not accept Bitcoin. White House Market uses Monero, a cryptocurrency designed to safeguard the privacy of its previous owners, like cash.
— dark.fail (@DarkDotFail) January 14, 2021
Why Dark Net Marketplaces Prefer Monero Over Other Cryptocurrencies
As Bitcoin takes center stage in the world of finance and its value increases, the value it offers the dark web in terms of privacy is shrinking by the day.
Bitcoin is now an asset that institutions control, and its market cap is approaching trillion. It has the attention of government regulators, and due to its design and popularity, blockchain analytics firms now can trace BTC transactions back to the source with enough accuracy, government agencies have begun tapping them to fight back against crime hidden away behind crypto.
Related Reading | Bitcoin Dark Web Transacted Value Spikes By Over 65% in 2020
Criminals can no longer hide behind what little privacy the top cryptocurrency can provide, despite its usage on the dark web growing year over year in 2020. Instead, the only choice is to look toward privacy coins that obfuscate sender and recipient data.
Will Monero begin to grow now that it is the primary cryptocurrency accepted on the White House Market? | Source: XMRUSD on TradingView.com
Monero is the undisputed king of privacy coins, offering the very best layer of protection over transactional details, which is why the White House Market has selected it as its currency of choice.
Government agencies have become increasingly successful in taking down dark web markets, and it could be due to their increased understanding of the Bitcoin blockchain. Will Monero be enough to keep Bitcoin’s spotlight and the government’s search lights away from the dark web?
Featured image from Deposit Photos, Charts from TradingView.com
Bitcoin Miner Canaans IPO Nets Just $90M After Losing Banking Partner
n Canaan completes M IPO without major backer Credit Suissen
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Australian Law Enforcement Nets 20x Gains From Seized Bitcoin
Bitcoin is a wildly volatile asset, known for its massive price swings and for being the best performing asset of all-time. It’s made many early investors millionaires as a result.
It’s even helped law enforcement gain over 2000% returns on a large sum of BTC that was seized as part of a sting on an Australian arms dealer, according to a new report.
Law Enforcement Down Under Experience Huge Upside On Seized Bitcoin
Back in 2016, Australian authorities arrested a suspect in a sting involving an arms dealer. The weapons were bought and paid for using Bitcoin, resulting in the Bitcoin used in the transactions being seized as evidence.
Related Reading | Visualized: Bitcoin ROI Crushes Stock Market Returns
At the time, long before the crypto hype bubble and the Bitcoin bull run heard round the world, the crypto asset was worth under ,000. After years of a drawn-out ligation process, the suspect finally agreed to forfeit over any BTC involved to the Brisbane Criminal Assets Confiscation Taskforce.
When Australian authorities finally gained control over the seized BTC, it was November 2018, and Bitcoin’s price had grown significantly over the course of two years – reaching a peak of ,000.
When law enforcement first began the litigation process, the seized crypto assets in total were worth roughly ,000, but by the time they had received the cryptocurrency, the grand total value of all seized Bitcoin had ballooned to 5,000, resulting in a 2,000% gain for law enforcement.
This Is Why You HODL
The term HODL – often said to be an acronym for “hold on for deal life” – was coined as a way to remind crypto investors that when times get rough, and prices start falling, simply continuing to hold onto Bitcoin will typically result in a significant payoff.
The earliest investors in Bitcoin who held onto the young, untested technology (at the time) experienced gains that are unheard of in financial markets. Bitcoin as an asset at first was virtually worthless, and today it is traded ,500 per BTC.
The above story highlights why simply holding Bitcoin in the long-term almost always results in significant gains. In just two years time, ,000 worth of the cryptocurrency went on to do an over 20x return, and increased over 0,000 in value. Had law enforcement received the Bitcoin near the top of the crypto bubble, the same amount of BTC could have been worth close to a half a million dollars.
Even investors who bought the bear market bottom and sold the recent local top around ,000, would have netted a 350% return on investment.
Related Reading | Tech Stocks, Gold, Oil, and S&P 500: Bitcoin ROI Beats Them All
These examples show that its never a bad time to buy Bitcoin, and even if the price of the asset collapses shortly after a buy order is made, it has in the past always rebounded, and brought investors such substantial gains, no other asset has ever outperformed Bitcoin.
The post Australian Law Enforcement Nets 20x Gains From Seized Bitcoin appeared first on NewsBTC.
Remarkably Basic Scam Nets Criminals $2 Million in Bitcoin and Other Assets
According to the New York Police Department, the number of people duped out of Bitcoin and other assets thanks to a telephone scam has soared in 2019. It estimates that a massive million has been fraudulently obtained from residents of the city.
The scam responsible apparently involves a cold call from either a real person or AI operator claiming to be from social services. It is a wonder that the scam has been so successful, given how basic it is and the fact that payment is asked for in crypto!
New Day, New Bitcoin Scam
An article published by The Next Web states that the New York Police Department has been inundated by reports of people being defrauded out of money by a rather simplistic telephone scam in which scammers request Bitcoin, online gift cards, and other non-conventional payment methods after claiming to be from the social services.
The NYPD published a video warning citizens about the telephone scam:
According to the law enforcement authority, the scam involves the victim receiving a phone call, apparently from Social Security Administration officials. By spoofing the organisation, police, or some other government agency’s caller ID, the scammers make the call seem more legitimate.
They go on to tell the victim that their Social Security Number has been suspended for some reason or that it has been involved in some serious criminal case – such as international drug trafficking. Alternate versions of the same scam reportedly tell victims that their bank account has been frozen or seized, or that there is a warrant out for their arrest.
The call then is often transferred to a supposed high-ranking police official who attempts to scare the victim with threats that the only way to rectify the situation is to send them Bitcoin, buy Apple or Google Play gift vouchers, or to FedEx them physical cash. This is, of course, a massive red flag and it is hard to believe that anyone has believed that the Social Security Administration’s preferred means of payment is Bitcoin or an online gift card.
That said, the scam is obviously proving successful. The NYPD reports that around million has been defrauded from victims of it. Examples of such reports being made to the department have also sky rocketed. Whereas there were just three similar claims of fraud made in 2018, this year there have been 200 already.
Nilda Hofmann, the NYPD’s chief of community affairs stated:
“Sophisticated phone scams use the trust victims have in their own governmental and law enforcement agencies against them. Victims of this type of phone scam are not limited to senior citizens – these criminals are targeting every strata of society and every demographic is vulnerable.”
Although Bitcoin is often used as a means of payment in similar scams, such criminal activity accounts for a tiny percentage of all Bitcoin transactions. A report published in April 2018 found that less than one percent of BTC transactions were connected with a crime.
Related Reading: Familiar Bitcoin Scam Defrauds Dutch Investors of .9 Million and Counting
Featured Image from Shutterstock.
The post Remarkably Basic Scam Nets Criminals Million in Bitcoin and Other Assets appeared first on NewsBTC.
Singapore Blockchain Accelerator Nets BMW and Intel Among New Partners
n Singapore government-backed blockchain accelerator Tribe has gained BMW and Intel as two major strategic partnersn
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Clear and Robust Strategy Nets 0.023 Recovery of Bitfinexs Hacked Funds So Far
n nn nn According to an official statement published on February 25, 2019, Bitfinex has revealed that the United States government returned 27.7 BTC worth about 5,000 USD to the exchange, as part of restitution for a hack that was effected on the exchange back in 2016.The returned tokens represent just 0.023 percent of the bitcoin stolen in the infamous 2016 hack.Bitfinex said that U.S. federal law enforcement informed them in November of last year that it had
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Phishing Attack on Electrum Wallet Nets Hacker Almost $1 Million in Hours Report
n A hacker has managed to fool Electrum wallet users into handing over more than 0,000, reportn
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