Finance world news

Mandy Op.

Mandy Op.

Andrew Tate Invests Over $100 Million in Bitcoin, Plans to Fully Divest from Fiat and Banks

Andrew Tate Invests Over $100 Million in Bitcoin, Plans to Fully Divest from Fiat and Banks

In a surprising pivot from his earlier reservations about cryptocurrency, influencer and entrepreneur Andrew Tate has announced an investment of more than $100 million in Bitcoin, signaling a complete departure from fiat money and traditional banking. This move represents a dramatic shift for Tate, who previously expressed skepticism about the

Chinese Authorities Expose a $1.9 Billion Underground Bank Using USDT for Illicit Transactions

Chinese Authorities Expose a $1.9 Billion Underground Bank Using USDT for Illicit Transactions

In a major operation spanning 26 provinces, Chinese law enforcement has uncovered an underground banking network that engaged in illegal financial activities using Tether (USDT), a popular stablecoin. This operation involved the seizure of approximately 13.8 billion yuan ($1.9 billion) and the detention of 193 suspects, indicating a

Former Binance CEO Changpeng Zhao to Write a Book on Cryptocurrencies While Serving Prison Sentence

Former Binance CEO Changpeng Zhao to Write a Book on Cryptocurrencies While Serving Prison Sentence

Changpeng Zhao, known popularly as CZ, the former CEO of the cryptocurrency exchange Binance, has announced his intention to write a book during his time in prison. This revelation comes amidst his current incarceration, where, according to CZ, he has found himself with "quite a bit of spare time" to

Approval of Spot Ethereum ETFs Hinges on Outcome of US Presidential Elections, Eric Balchunas Analyzes

Approval of Spot Ethereum ETFs Hinges on Outcome of US Presidential Elections, Eric Balchunas Analyzes

Eric Balchunas, a Bloomberg Intelligence analyst, has recently commented on the likelihood of the approval of spot Ethereum ETFs. He has shifted his forecast to December 2025, indicating a significant delay. According to Balchunas, a crucial factor in this process will be the outcome of the upcoming US presidential elections.

Uniswap Founder Urges President Biden to Reconsider His Stance on Cryptocurrencies, Warning of Potential Electoral Defeat

Uniswap Founder Urges President Biden to Reconsider His Stance on Cryptocurrencies, Warning of Potential Electoral Defeat

Hayden Adams, the founder of the decentralized trading platform Uniswap, has publicly called on U.S. President Joe Biden to shift his administration's approach towards cryptocurrencies. In a pointed critique, Adams expressed concerns that Biden’s current disregard for the crypto sector might jeopardize his chances in the upcoming elections.

Canada’s FINTRAC Fines Binance $4.4 Million for AML Violations and Operating Without a License

Canada’s FINTRAC Fines Binance $4.4 Million for AML Violations and Operating Without a License

In a significant regulatory action, Canada’s Financial Transactions and Reports Analysis Centre (FINTRAC) has imposed a $4.4 million fine on the cryptocurrency exchange Binance. This decision comes after a detailed investigation into the platform's compliance with Anti-Money Laundering (AML) regulations and its failure to operate with a requisite

Grayscale Investments Withdraws Application for Ethereum Futures ETF Amid Regulatory Uncertainty

Grayscale Investments Withdraws Application for Ethereum Futures ETF Amid Regulatory Uncertainty

In a recent development within the cryptocurrency investment sector, Grayscale Investments has officially withdrawn its application for an Ethereum futures ETF, originally filed in September 2023. The application was for the Grayscale Ethereum Futures Trust ETF, and its withdrawal marks a notable moment in the evolving landscape of cryptocurrency regulations.

Revolut Launches Revolut X, a New Cryptocurrency Exchange Aimed at Experienced Traders, in a Move to Compete with Leading Platforms

Revolut Launches Revolut X, a New Cryptocurrency Exchange Aimed at Experienced Traders, in a Move to Compete with Leading Platforms

Revolut has officially launched its cryptocurrency exchange, Revolut X, specifically designed for experienced traders. This strategic move is aimed at positioning the company as a strong competitor against the top cryptocurrency platforms. The plans for launching this exchange were first revealed in February 2024. As a neobank with over 40

Bitcoin Miners' Earnings Drop to Lowest Since June 2021, Despite Recent Recovery

Bitcoin Miners' Earnings Drop to Lowest Since June 2021, Despite Recent Recovery

On May 3, 2024, the daily income of Bitcoin miners significantly decreased to 437.28 BTC, equivalent to $28.4 million, marking the lowest earnings since late June 2021 when it fell to 388.6 BTC, according to data from Glassnode. As of May 5, 2024, there was a slight

Cryptocurrency ETFs and Companies Hold $175 Billion in Bitcoin: An Extensive Analysis by VanEck

Cryptocurrency ETFs and Companies Hold $175 Billion in Bitcoin: An Extensive Analysis by VanEck

VanEck, a leading investment firm, has released a report revealing that various companies and cryptocurrency ETFs collectively hold about $175 billion in Bitcoin, constituting approximately 15% of the total Bitcoin supply. This significant figure highlights the growing institutional and governmental interest in Bitcoin as a formidable asset class. According to