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BlackRock and Monochrome Asset Management have announced significant expansions in the United States and Australia, respectively. This marks a notable leap in the accessibility and appeal of Bitcoin exchange-traded fund (ETFs) to a broader investor base. Indeed, this initiatives reflect the evolution of the cryptocurrency investment and highlight the sector’s potential for continued growth and integration into wider financial markets. Bitcoin ETFs Rise in US and Australia BlackRock, the world’s largest asset manager, has expanded its spot Bitcoin exchange-traded fund…

This week was quite a volatile rollercoaster for the primary cryptocurrency and the rest of the market, perhaps driven by actions undertaken by the US government. Recall that BTC’s price had stalled at around $69,000 last Friday as the bulls had failed to overcome the $70,000 level. Following a relatively quiet weekend, in which BTC stayed at around the same levels, it went on the offensive once again on Monday to over $71,000. However, Bitcoin failed to overcome that resistance…

Bitcoin’s price action remained choppy this week. Its recovery to $69,000 remained brief after a massive plunge below $65,000. Nonetheless, the resurgence has sparked significant discussion within the community. The drop is largely attributed to the US government’s move to sell its BTC stash from the Silk Road seizure, with plans for four more similar sell-offs in 2024 causing significant concern among traders. However, historical data suggest that markets typically move in the opposite direction of the crowd’s expectation. Bitcoin…

Former President Trump and President Biden are set to go head-to-head in the September U.S. presidential elections in what will be a close call, according to political experts. Cardano Foundation CEO has revealed that the team has been approached by the states about potentially developing a blockchain voting system. With the upcoming U.S. elections pitting two of the greatest political rivals together, there is a great need for transparency and efficiency. It has emerged that Cardano could be a sought-after…

Ripple plans monthly attestation reports for transparency, though the auditing firm responsible has not been disclosed yet. The stablecoin will be backed by U.S. dollar deposits, government bonds, and cash equivalents, ensuring stability. Ripple, has announced its plan to launch a stablecoin pegged to the U.S. dollar. This move places Ripple in direct competition with the leading stablecoin providers, Tether and Circle, who manage the UDST and USDC tokens, respectively.  The stablecoin market, where Ripple aims to make its mark,…

Ripple, a provider of enterprise blockchain and crypto solutions, has revealed plans to introduce a stablecoin pegged 1:1 to the US dollar (USD). The asset will be backed entirely by US dollar deposits, short-term US government treasuries, and other cash equivalents. Ripple CEO Confident on Launch According to an April 4 press release, these reserve assets would undergo audits by a third-party accounting firm, with monthly attestations to be published for public scrutiny. Brad Garlinghouse, Ripple’s CEO, expressed confidence in…

In the early US hours, Arkham Intelligence reported that the United States government had transferred over $90 million worth of Bitcoin and Ethereum, previously seized from two Estonian nationals involved in a vast cryptocurrency fraud and money laundering scheme. This move captured the attention of the cryptocurrency community, just days after the transfer of approximately $2 billion in Bitcoin related to the infamous Silk Road marketplace. Arkham Intel, utilizing its advanced tracking technology, noted that just two hours ago, the…

The post Big Move Ahead? Reports Hint at Potential $2 Billion Bitcoin Sell-Off by US Authorities appeared first on Coinpedia Fintech News The cryptocurrency market experienced a sudden drop yesterday, with Bitcoin plummeting over 5% to trade around $66,000. This decline coincided with another event as a U.S. government-linked wallet transferred 30,175 bitcoins, reportedly seized from the Silk Road dark web marketplace.  What has sparked debate and speculation is the timing of this transfer and its effect on the price…

The crypto market is abuzz with speculation as the US government recently moved significantly regarding seized Bitcoin (BTC) linked to the infamous Silk Road dark web marketplace. This development comes at a critical time for the Bitcoin price, which has struggled to maintain its position above the $70,000 threshold after hitting its current all-time high (ATH) of $73,700 on March 14.  As the largest cryptocurrency experiences yet another round of price correction, the movement of these seized funds has triggered…