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  • SEC sues Bitcoin miner Geosyn Mining for fraud; Bitbot presale nears $3M

    SEC sues Bitcoin miner Geosyn Mining for fraud; Bitbot presale nears $3M

    SEC Bitcoin miner Geosyn Mining for fraud
    • SEC sues Geosyn Mining and co-founders for misappropriated funds and misleading investors.
    • Bitbot revolutionizes crypto trading with a non-custodial Telegram bot.
    • The $BITBOT presale nears $3M presale with the token poised to rise from the current $0.0171 to $0.018.

    The Securities and Exchange Commission (SEC) has filed charges against Bitcoin miner Geosyn Mining, LLC, and its co-founders, Caleb Joseph Ward and Jeremy George McNutt, for allegedly defrauding investors out of $5.6 million.

    Meanwhile, Bitbot, a non-custodial Telegram trading bot, is on the verge of hitting $3 million in its presale.

    Let’s delve into the details of these developments.

    SEC’s charges against Geosyn Mining and its co-founders

    According to the SEC’s complaint, filed in a federal court in Texas, Geosyn raised approximately $5.6 million from over 60 investors between November 2021 and December 2022.

    According to the U.S. SEC, the company allegedly misled investors by falsely claiming to purchase, maintain, and operate crypto mining machines, promising to distribute mined assets, such as Bitcoin, to investors for a fee. The SEC alleges that Geosyn made false claims about its contracts with electricity providers, failed to disclose that it never purchased some mining machines, and did not provide the services as promised.

    Moreover, Ward and McNutt are accused of misappropriating about $1.2 million for personal use.

    The SEC seeks permanent injunctions, disgorgement with prejudgment interest, and civil penalties against Ward and McNutt.

    Bitbot: a Telegram bot revolutionizing crypto trading

    While the U.S. SEC goes after Geosyn Mining LLC,  Bitbot, an innovative non-custodial Telegram trading bot that aims to democratize crypto trading is making waves with its token presale.

    Besides its token presale, Bitbot offers users institutional-grade tools in a secure and easy-to-use package, allowing them to trade directly from Telegram while maintaining control of their assets. It integrates with self-custodial wallets, ensuring users retain complete control over their keys and assets.

    The platform employs KnightSafe, a decentralized security system, to safeguard trading activities. It provides a range of trading tools, including automated sniping, limit orders, copy trading, and yield optimization, accessible to users of all trading experience levels.

    Bitbot presale nears $3 million

    In recent developments, Bitbot’s presale is rapidly approaching the $3 million mark. The presale, which offers investors the opportunity to acquire $BITBOT tokens, Bitbot’s native utility coin, has garnered significant interest from the crypto community raising a total of $2,900,178 by the time of writing.

    Investors can purchase the $BITBOT token at the current price of $0.0171 per token before the price increases to $0.018 in the next stage.

    Investors can participate in the presale by importing or creating a smart contract wallet directly via Telegram and once the presale period concludes, investors can claim their $BITBOT tokens via Bitbot’s official website.

    $BITBOT token holders stand to benefit from revenue sharing, exclusive presale access, unique perks, a say in Bitbot’s strategic direction through governance, and more.

    Conclusion

    SEC’s legal action against Geosyn Mining highlights the importance of regulatory compliance in the crypto industry, while Bitbot’s presale success underscores the growing demand for innovative trading solutions in the crypto market.

    As Bitbot continues to revolutionize crypto trading, investors eagerly anticipate the platform’s future developments and expansion.

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  • Arthur Hayes says macro setup favours Bitcoin bulls as KangaMoon attracts investors

    Arthur Hayes says macro setup favours Bitcoin bulls as KangaMoon attracts investors

    • Arthur Hayes is bullish on crypto amid the macro setup that he says could present a golden opportnity
    • He says altcoins as well as presale tokens may be worth a look at as crypto exits latest window of weakness
    • KangaMoon (KANG) is one of the new projects attracting huge attention as its presale noves towards a close

    Arthur Hayes believes the crypto market is set to continue on the upside, pointing to the macro setup and the sovereign debt bubble. The Maelstrom family office head, is also bullish on altcoins and new token launches that he says present a “golden opportunity” after the recent crypto weakness.

    With the market likely to flip bullish in coming months, could this be the time to take advantage of the KangaMoon (KANG) presale?

    Arthur Hays explains bull market setup and potential opportunities

    BitMEX exchange co-founder and former CEO Arthur Hayes is bullish on crypto rebounding after the recent dip, noting that prices could “get sillier on the upside.” This, he argued in his “Left Curve” blog post, could be a ‘golden opportunity” for investors to add to their positions.

    In his opinion, the market is currently exiting “the window of weakness” that likely followed the April 15 US tax payments and the recent Bitcoin halving event.

    While the factors that drove Bitcoin price from zero to $70k over the past decade may not be the same ones at play in the future, Hayes says the macro setup and the fiat liquidity surge that fueled BTC’s staggering gains can only get more pronounced, particularly as “the sovereign debt bubble begins to burst.”

    “As we enter the northern hemispheric summer and decision-makers enjoy a respite from reality, crypto volatility will decline. This is the perfect time to take advantage of the recent crypto dip to slowly add to positions,” the BitMEX co-founder noted.

    Altcoins pounded during the latest dump, new token launches and presales are all likely to offer great entry points. These opportunities could materialise over the next few months.

    KangaMoon brings GameFi and SocialFi to meme world

    KangaMoon (KANG) is a new SocialFi and play-to-earn gaming project currently in presale.

    The project, which also taps into meme culture to spice up the epic game battles, has a strong pull due to what the native $KANG token offers to holders. With KangaMoon, the opportunities to earn more $KANG and other exclusive rewards are available right from the presale stage. 

    Kangaverse is the GameFi platform’s ecosystem for contests and tournaments. $KANG holders can access these chances to earn more tokens through weekly, monthly and quarterly competitions and game challenges.

    What makes KangaMoon a potentially great opportunity?

    What makes KangaMoon a potentially great investment opportunity is its current presale price. $KANG’s value during the five stages of the token sale has increased from $0.005 to $0.0196, meaning early birds are looking at about 280% upside on the price.

    However, the current price is also likely to be a great entry point given market predictions for Bitcoin and the altcoin sector. Analysts are also bullish on play-to-earn, while meme coins may see a new leg of interest.

    A look at KangaMoon’s performance as stage 5 of the presale nears a close shows a great deal of confidence in the project from early investors. KangaMoon has raised more than $5.2 million so far, with the final stage 48% sold out.

    Investors can take advantage of the 20% bonus available on all purchases to load up on what could be the next top big thing in SocialFi and P2E.

    To learn more or buy $KANG, visit the official KangaMoon website.

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  • K33 Research cautions Mt. Gox’s imminent $9B payout could impact Bitcoin (BTC)

    K33 Research cautions Mt. Gox’s imminent $9B payout could impact Bitcoin (BTC)

    Mt. Gox's imminent $9B payout could impact Bitcoin (BTC)
    • Gox to distribute 142,000 BTC and 143,000 BCH, valued at over $9 billion, to creditors.
    • The payout process could commence as early as next month.
    • All eyes are on the impact of the payout on Bitcoin and Bitcoin Cash price especially after the bitcoin halving event.

    Mt. Gox, once a major player in the cryptocurrency exchange scene, faced a devastating hack in 2014, leading to its collapse. Now, nearly a decade later, the defunct exchange is preparing to distribute a significant sum of digital assets including approximately 142,000 Bitcoin (BTC) and 143,000 Bitcoin Cash (BCH), amounting to over $9 billion in total, to creditors.

    This impending payout has prompted concerns among market observers, with K33 Research highlighting the possibility of a negative impact on the price of Bitcoin in a report released on Tuesday.

    According to the analysts, the influx of Mt. Gox coins into the market could create downward pressure on BTC valuation in the coming weeks.

    Possible implications for Bitcoin (BTC) price

    K33 Research analysts have highlighted concerns that the influx of Mt. Gox’s digital assets into the market could exert downward pressure on Bitcoin’s price in the coming weeks. While creditors may not immediately liquidate their assets, the anticipation surrounding the payout could instil caution among investors, potentially dampening market sentiment.

    Creditors recently received updates on their BTC and BCH claims, indicating that payments could commence sooner than initially anticipated. This development, coupled with the looming deadline set by Mt. Gox trustees for reimbursements, has intensified speculation within the crypto community.

    Market observers remain divided on the potential impact of Mt. Gox’s payout on Bitcoin’s price. While some believe that creditors may opt to hold onto their funds, others fear that the sheer volume of digital assets entering the market could trigger a sell-off, leading to a temporary downturn in prices.

    Despite the uncertainty surrounding Mt. Gox’s payout, the crypto market continues to show resilience in the face of external pressures. However, investors are advised to exercise caution and closely monitor developments related to the distribution process to mitigate any adverse effects on their portfolios especially according to the K33 Research analysts warning.

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  • BTCC Exchange’s Renaissance art and Bitcoin fusion fascinated Paris Blockchain Week attendees

    BTCC Exchange’s Renaissance art and Bitcoin fusion fascinated Paris Blockchain Week attendees

    BTCC’s Renaissance art and Bitcoin fusion fascinated Paris Blockchain Week attendees
    • Over 9,000 people showed up for the Paris Blockchain Week attendees.
    • The event was held at the Carrousel du Louvre.
    • The fusion of classical art and modern cryptocurrency served as a focal point of the event

    BTCC Exchange made waves at Paris Blockchain Week with its innovative blend of Renaissance art and Bitcoin, captivating over 9,000 attendees at the prestigious event held at the Carrousel du Louvre from April 9 to 11.

    Artistic fusion at Paris Blockchain Week

    Paris Blockchain Week attendees were greeted by BTCC Exchange’s Renaissance-themed booth, adorned with a vibrant Mona Lisa backdrop and quirky reinterpretations of famous paintings from the era.

    The fusion of classical art and modern cryptocurrency served as a focal point of the event, sparking conversations and garnering attention from industry professionals and enthusiasts alike.

    Alex, Head of Operations at BTCC Exchange, emphasized the significance of intertwining historical art with the revolutionary concept of Bitcoin.

    Drawing parallels between the enduring legacy of Renaissance masterpieces and the disruptive nature of cryptocurrency, Alex highlighted Bitcoin’s role in challenging traditional financial paradigms and reshaping global economic landscapes.

    Alex further reiterated the exchange’s commitment to creativity and innovation, likening Bitcoin to the timeless artworks they paid tribute to. He said that just as Renaissance paintings have outlasted their contemporaries due to their innovative approaches, BTCC Exchange aims to leave a lasting impact by pushing the boundaries of conventional thinking in the crypto space.

    BTCC Exchange not only showcased its creative prowess at the Paris Blockchain Week but also underscored its longevity and resilience in the competitive crypto industry. With a track record spanning over a decade and boasting an impressive zero security incidents record since its inception in 2011, BTCC Exchange continues to be a key player in the crypto exchange landscape.

    BTCC Exchange anniversary in June

    Following the success of its presence at Paris Blockchain Week, BTCC Exchange looks ahead to celebrating its 13th anniversary in June with promising partnerships and exciting news on the horizon.

    With features catering to both beginners and experienced traders, including copy trading and up to 225x leverage for perpetual futures, BTCC Exchange remains at the forefront of the industry’s evolution.

    As the world’s longest-serving crypto exchange, BTCC Exchange continues to demonstrate its creative and innovative spirit while staying true to its mission of providing a secure and user-friendly platform for cryptocurrency enthusiasts worldwide.

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  • JPMorgan CEO calls Bitcoin a ‘Ponzi Scheme’ despite JPMorgan’s involvement in Bitcoin ETFs

    JPMorgan CEO calls Bitcoin a ‘Ponzi Scheme’ despite JPMorgan’s involvement in Bitcoin ETFs

    • Jamie Dimon, JPMorgan CEO, called Bitcoin a “Ponzi scheme.”
    • Dimon’s criticism comes despite JPMorgan’s involvement in Bitcoin ETFs.
    • Bitcoin’s recent price volatility highlights ongoing debates in the cryptocurrency market.

    JPMorgan Chase CEO Jamie Dimon has once again voiced his scepticism towards Bitcoin (BTC), dubbing it a ‘Ponzi scheme’ during an interview on Bloomberg TV.

    During his interview, Dimon reiterated his long-standing criticism of Bitcoin, stating that it lacks utility and legitimacy as a form of money. He described Bitcoin and similar cryptocurrencies as “simply not functional as currencies,” emphasising his belief that they are essentially Ponzi schemes disguised as technological innovation.

    However, this is not the first time that the CEO is criticizing Bitocin. His scepticism towards Bitcoin is well-documented. He previously called Bitcoin a “fraud” and expressed concerns about its potential to facilitate illegal activities such as money laundering, fraud, and tax evasion due to its anonymity and lack of regulation.

    JPMorgan’s involvement in Bitcoin ETFs

    It’s notable that despite Dimon’s vocal criticism of Bitcoin, JPMorgan has been actively involved in the cryptocurrency space.

    The banking giant has served as an Authorized Participant for BlackRock’s spot Bitcoin exchange-traded fund (ETF) and has participated in several blockchain-based projects over the years.

    Furthermore, despite Dimon’s scepticism towards Bitcoin, the CEO acknowledged the potential value of certain aspects of blockchain technology, particularly those facilitating smart contracts although  he maintained his stance that cryptocurrencies like Bitcoin lack inherent value as currencies, echoing his previous sentiments on the matter.

    This juxtaposition highlights the nuanced approach within the banking giant towards cryptocurrency investments, even as its CEO expresses scepticism.

    Bitcoin (BTC) price market reaction

    Bitcoin’s market performance has been subject to fluctuations in recent times. At the time of writing, Bitcoin price was $64,741.28, after experiencing a 4.92% increase in the last day, but it was still down 8.41% over the past seven days.

    Despite these fluctuations, Bitcoin’s market capitalization has recently surpassed $1.2 trillion, reflecting its continued growth and acceptance as an asset class.

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  • Binance Labs backs BounceBit for Bitcoin restaking and CeDeFi revolution

    Binance Labs backs BounceBit for Bitcoin restaking and CeDeFi revolution

    Binance Labs backs BounceBit for Bitcoin restaking and CeDeFi revolution
    • Binance Labs invests in BounceBit for Bitcoin restaking and CeDeFi innovations.
    • BounceBit integrates CeFi and DeFi empowering BTC beyond traditional value storage.
    • BounceBit’s dual-token system enhances security, transparency, and network utility for Bitcoin.

    In a strategic move aimed at expanding the utility of Bitcoin, Binance Labs, the venture capital and incubation arm of Binance, has announced its investment in BounceBit.

    This collaboration signals a significant step towards redefining Bitcoin’s role beyond traditional storage, leveraging innovative approaches like Bitcoin restaking and CeDeFi protocols.

    BounceBit empowering Bitcoin with CeDeFi integration

    BounceBit emerges as a groundbreaking initiative, spearheading the evolution of Bitcoin’s role in the digital ecosystem. It introduces pioneering concepts such as Bitcoin restaking and the fusion of centralized finance (CeFi) and decentralized finance (DeFi) principles.

    At its core, BounceBit emphasizes asset-driven empowerment for Bitcoin, refraining from altering the underlying Bitcoin blockchain. By seamlessly integrating strategies like funding rate arbitrage and on-chain certificates issuance, the platform transforms Bitcoin into a dynamic force within the ecosystem.

    Led by a team with diverse expertise spanning decentralized finance, traditional finance, and Layer 1 blockchain technology, BounceBit prioritizes security and transparency.

    Through regulated custody and Multi-Party Computation (MPC), alongside innovative solutions like Mirror X and off-exchange settlement (OES), BounceBit’s platform ensures a secure environment for Bitcoin engagement in yield-generating activities.

    BounceBit’s Bitcoin restaking initiative

    A key innovation introduced by BounceBit is its unique Proof of Stake (PoS) Layer 1 ecosystem. This ecosystem incentivizes validators to stake both BounceBit tokens and BTC, fortifying network security and directly involving BTC in network operations.

    Through restaking Bitcoin across multiple systems like oracles and bridges, BounceBit aims to enhance the security and operational efficiency of the network.

    The platform’s commitment to developing a robust restaking infrastructure is evident, as it leverages a dual-token system and a combination of CeFi and DeFi frameworks.

    By providing a secure and transparent environment, BounceBit empowers BTC holders to explore new avenues for yield generation across various networks.

    With a focus on innovation, security, and transparency, BounceBit is poised to revolutionize the landscape of Bitcoin restaking and CeDeFi, paving the way for enhanced utility and accessibility in the digital asset space.

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  • Bitcoin (BTC) price prediction as it breaches $72k

    Bitcoin (BTC) price prediction as it breaches $72k

    • Bitcoin price forecast points to a possible $82,000.
    • Ten days remain to the much anticipated Bitcoin halving event.
    • Kangamoon, a new meme coin, has raised over $4M in its ongoing presale taking advantage of the crypto hype created by Bitcoin’s price surge

    Bitcoin (BTC) has been making significant waves in the cryptocurrency market, with its price breaching the $72,000 mark again today.

    BTC’s price surge comes amidst a backdrop of growing optimism and speculation surrounding the future trajectory of the leading cryptocurrency as new coins like Kanagamoon come up.

    Analysts have been closely monitoring Bitcoin’s price movements, offering forecasts and insights into where it might head next.

    Bitcoin price forecast

    In recent months, Bitcoin has defied expectations, rallying from lows of $15,000 at the end of 2022 to its current highs. This remarkable price surge has sparked wild speculation among traders and investors, with some predicting that Bitcoin could be in for its biggest month ever.

    However, despite the bullish momentum, there are lingering concerns among some market participants, including Federal Reserve officials like Neel Kashkari, who have expressed worries about Bitcoin’s price volatility.

    At its current price of $72,354, Bitcoin (BTC) has more than doubled its price since the end of 2023. At first, the rally was pegged on the approval of spot Bitcoin ETFs by the U.S. SEC. The impact of the ETFs was so strong especially following the outflow of BTC from crypto exchanges as the ETFs took up much of the bitcoins from the market creating a supply crunch.

    Additionally, factors such as the upcoming Bitcoin halving event and increased institutional interest in the cryptocurrency market have also been potential catalysts for driving BTC’s price appreciation.

    But even as the BTC price appreciates, analysts have been skeptical with some pointing out that Bitcoin’s price could experience a pullback in the near term, potentially revisiting levels around $60,000 before rallying back to its recent peak of $73,777 or even higher.

    While this pattern of pre-halving dips is not uncommon in Bitcoin’s price history, and it is often followed by a continuation of the primary uptrend, it seems Bitcoin has already hit bottom in its recent pullback and is now prepared to set a new all-time high (ATH), as we enter the halving eve.

    As depicted by Thomas on X, Bitcoin’s halving event has always spurred BTC to register new highs

    According to Jelle’s Bitcoin price prediction, BTC could easily hit $82,000 if it successfully breaks through the current wedge.

    Kangamoon: SocialFi and Play-to-Earn merge

    As Bitcoin prespare for pre-halving cycle, Kangamoon is emerging as a notable project that aims to revolutionize the way users interact with memes and earn rewards.

    Kangamoon is building a vibrant community of meme enthusiasts while integrating elements of SocialFi and Play-to-Earn (P2E).

    At the heart of the Kangamoon project is its native token $KANG,which iscurrentlyin the presale stage.

    The platform offers users the opportunity to engage in various activities, including assembling champions, participating in epic battles, and betting on favorite fighters to earn $KANG tokens and exclusive rewards.

    $KANG is an ERC-20 token on the Ethereum blockchain, with a maximum supply of 1 billion tokens. Users can claim their $KANG tokens following the conclusion of the presale event, with details about the token claim process available on the Kangamoon website, social media channels, newsletter, and Telegram community.

    Kangamoon’s unique social-fi model incentivizes active participation, with users competing in weekly, monthly, and quarterly challenges to earn $KANG and other rewards.

    Kangamoon presale

    In the ongoing Kangamoon presale, the project has raised an impressive amount, totaling $4,384,434.039.

    With 15.3% of the tokens already sold, there is still 84.7% remaining for potential investors to participate in the presale event.

    The current presale stage offers a 10% bonus on all purchases, providing an attractive opportunity for early supporters to acquire $KANG tokens at a favorable price point of $0.0196 per token.

    The presale phase is a crucial step in Kangamoon’s journey, as it enables the project to secure funding and build momentum ahead of its official launch. As the project progresses through its roadmap milestones, including the development of the Kangamoon Play-to-Earn Arcade and the launch of the Kangamoon P2E website and app, investors and enthusiasts are eagerly anticipating the next stages of Kangamoon’s evolution.

    Conclusion

    Bitcoin’s price continues to capture the attention of the cryptocurrency market, with forecasts suggesting further upside potential. And at the same time, Kangamoon is carving out its niche in the industry, offering a unique blend of meme culture, social finance, and play-to-earn mechanics to create an engaging and rewarding experience for users.

    As both Bitcoin and Kangamoon navigate their respective paths, investors and enthusiasts remain vigilant, eager to seize opportunities and navigate the ever-changing landscape of the cryptocurrency market.

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  • Coinbase partners with Lightspark for Bitcoin Lightning Network integration

    Coinbase partners with Lightspark for Bitcoin Lightning Network integration

    • Coinbase’s partnership with Lightspark for Bitcoin Lightning Network integration enhances transaction efficiency.
    • Lightspark’s advanced technology streamlines Lightning Network access, offering low-cost BTC transfers.
    • The collaboration empowers Coinbase with reliable, scalable node infrastructure, driving global financial innovation.

    Coinbase, a leading cryptocurrency exchange, has announced a strategic partnership with Lightspark to integrate the Bitcoin Lightning Network.

    The collaboration aims to revolutionize the way users conduct Bitcoin (BTC) transactions, offering them enhanced speed and cost-efficiency.

    Lightspark, in an exclusive blog post, revealed the culmination of their efforts spanning nearly two years to refine their platform as the premier gateway to the Lightning Network. With Coinbase onboard, clients can now enjoy seamless access to low-cost and almost real-time BTC transfers.

    Lightspark’s advanced technology, including its AI-driven smart engine “Lightspark Predict,” optimizes liquidity and routing for maximum efficiency.

    Coinbase to retain control over Lightning signing keys

    Through Lightspark’s remote-key validation implementation, Coinbase retains control over Lightning signing keys while Lightspark manages the node infrastructure. This ensures a reliable, scalable, and fully optimized node infrastructure for Coinbase users.

    Shan Aggarwal, Coinbase’s VP of Corporate & Business Development, expressed confidence in establishing a global financial ecosystem prioritizing efficiency and speed.

    The integration signifies a significant stride towards achieving this goal, opening doors to a multitude of payment-related use cases facilitated by Lightspark’s innovative solutions.

    Coinbase’s decision to integrate the Lightning Network comes at a time when Bitcoin’s scalability and transaction speed have become critical concerns. With transaction fees on the primary network rising, the Lightning Network offers a promising solution to alleviate congestion and reduce costs.

    The move aligns with Coinbase CEO Brian Armstrong’s vision, who previously highlighted the potential of Lightning Network integration.

    Founded in 2022 by David Marcus, Lightspark has garnered support from key industry players and investors, positioning itself as a frontrunner in Lightning Network solutions. The partnership with Coinbase further solidifies its standing in the market.

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  • Tether now the seventh-largest Bitcoin (BTC) holder

    Tether now the seventh-largest Bitcoin (BTC) holder

    • Tether recently committed 15% of its net profit to Bitcoin investments.
    • On March 31, 2024, Tether acquired an additional 8,888 BTC at $30,305 each bringing unrealized profit to $2.94B.
    • Tether is now 7th largest holder of Bitcoin (BTC), with 75,354 BTC.

    Tether, the leading issuer of USDT, has emerged as the seventh-largest holder of Bitcoin (BTC) after a strategic acquisition of 8,888 BTC on March 31, valued at $618 million.

    The latest purchase substantially bolstered Tether’s Bitcoin holdings, bringing the total to 75,354 BTC. The acquisition, executed at an average price of $30,305 per BTC, has proven to be astute, with the market value now standing at $5.2 billion.

    CoinStats data indicates an impressive 128% increase in the value of bitcoins in the wallet that made the latest BTC acquisition, translating to an unrealized profit of $2.94 billion.

    Tether’s strategic Bitcoin acquisition

    Tether’s decision to secure a substantial amount of Bitcoin comes at a time when institutional interest in the leading cryptocurrency has surged.

    Fueled by the approval of United States spot Bitcoin ETFs and anticipation surrounding the Bitcoin halving, Tether’s move reflects a strategic response to the evolving landscape of digital assets.

    Tether’s ascent to becoming a major Bitcoin holder underscores its commitment to diversifying the backing assets of its stablecoins.

    With a declared intention to allocate 15% of its net profit towards Bitcoin investments, Tether aims to strengthen its position within the cryptocurrency market and further solidify its role as a key player in the digital asset space.

    This strategic move not only elevates Tether’s standing within the cryptocurrency community but also highlights the growing importance of Bitcoin as a core asset in institutional investment portfolios.

    As Bitcoin continues to gain traction as a store of value and an investment asset, Tether’s strategic investment strategy underscores its vision to remain at the forefront of innovation and disruption in the evolving landscape of finance and technology.

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  • Coinbase stock rises as Bitcoin goes back above $70k mark

    Coinbase stock rises as Bitcoin goes back above $70k mark

    • Coinbase stock surges 9% to $280.79.
    • Bitcoin has soared by 8.60% in 24 hours to trade at $70,555.18 at press time.
    • Decreasing Bitcoin supply and bullish projections, like $150k by 2024, fuel investor optimism.

    Coinbase Global Inc (NASDAQ: COIN) experienced a significant surge in its stock price, climbing by over 9% to reach $280.79 per share. This rally in Coinbase shares correlates with Bitcoin’s resurgence, which briefly surpassed the $70,000 mark, after a substantial gain of 8.60% over the past 24 hours.

    The uptick in Coinbase’s stock price demonstrates investors’ confidence in the cryptocurrency exchange platform, particularly as Bitcoin, the leading digital asset, continues to exhibit resilience and upward momentum.

    The positive sentiment also reflects broader optimism in the cryptocurrency sector and its potential for further growth and adoption.

    Bitcoin price soars above $70k again 

    March has been such a great month for Bitcoin and the entire crypto market in general. Bitcoin (BTC) price soared past $73k at the beginning of March before retracting as investors started taking their profits.

    The bounce back above $70,000 reaffirms its position as the dominant player in the digital asset market. With a market capitalization of $1.39 trillion, Bitcoin maintains its status as the largest cryptocurrency by market capitalization, capturing over 8.70% of the total market cap.

    The surge in Bitcoin’s price was accompanied by robust trading volume, with $40.43 billion traded within 24 hours, solidifying Bitcoin’s position as one of the most actively traded cryptocurrencies.

    The decreasing Bitcoin supply could also be a factor as crypto exchanges registered record low BTC holdings as Bitcoin ETFs took in millions of bitcoins. With the decreased supply and increasing demand among investors, the majority believe BTC could go higher for the remainder of the year.

    Standard Chartered Bank gave an insane project of $150k by the end of 2024. While that is yet to be confirmed, the crypto industry seems to have come back to life as Bitcoin roars back to life as witnessed with the Coinbase stock surge.

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