Crypto exchange OKX has agreed to settle a DOJ investigation by paying over half a billion dollars after U.S. customers used its platform.
As Ethereum (ETH) hovers above a crucial support level, the potential for an altseason hangs in the balance. Currently trading at $2,680, ETH's ability to maintain the $2,600 support will be pivotal in determining the trajectory of the altcoin market. Altseason In Jeopardy: Will Ethereum Hold Support? Market expert Ali Martinez recently warned on social media X (formerly Twitter), that if Ethereum does not keep this vital support, the altseason might be canceled entirely. After a sharp decline to around $2,100 on February 4, Ethereum has struggled to find its footing amid a broader market sell-off. As it stands, Ethereum has recorded nearly 20% losses this month and an alarming 8% retracement year-to-date. Bitcoin's latest Halving has left the market broadly positive, which Ethereum has failed to capitalize on, demoralizing many Ethereum investors. In stark contrast, the excitement surrounding RCO Finance (RCOF) is palpable. This innovative AI-driven platform is rapidly emerging as a formidable contender in the altcoin space, poised to outperform Ethereum significantly. How RCO Finance's Robo Advisor Can Transform $500 Into Life-Changing Wealth RCO Finance is meant to democratize access to complex investment methods, therefore enabling everyone to have advanced financial instruments at hand. Using AI helps to remove the complexity usually causing trouble for financial management. But RCO Finance distinguishes from protocols like Ethereum with its totally automated, no-code solution, which lets anyone—from all backgrounds—easily maximize their money. Say farewell to intermediaries and brokers; RCO Finance enables consumers to interact directly with the market, therefore providing affordable and easily available financial management. RCO Finance's ground-breaking AI-powered Robo Advisor is its best asset. This flagship tool creates customized investment plans based on individual financial objectives, risk tolerance, and market preferences. Whether you trade experienced or just starting, the Robo Advisor cleverly examines enormous volumes of market data to instantly modify your investment strategy. Imagine using this method to grab early advantage in popular altcoins. For example, traders leveraging sophisticated instruments like the Robo Advisor may have profited from the 200% increase in the Aventis AI token, also driven by artificial intelligence. The best thing is that the crypto market runs around the clock, and the Robo Advisor makes sure you seize these chances and might turn a $500,000 nominal investment into maybe $1,000,000. RCOF's Presale At Just $0.10 With Promising 600% Return Potential RCO Finance also provides access to an astounding array of over 120,000 assets across 12,500 asset classes, including traditional stocks, bonds, exchange-traded funds (ETFs), and tokenized real-world assets (RWAs). Furthermore, operating in a Know-Your-Customer (KYC)-free ecosystem, RCO Finance gives customer anonymity and privacy priority. Audits by SolidProof improve the security and worldwide regulatory compliance of the platform even more. With over 10,000 users presently exploring RCO Finance's beta platform , this mix has attracted a lot of attention since it offers a wide spectrum of tools and solutions meant to facilitate investing in both traditional and decentralized markets. But that is not all! RCOF token holders enjoy significant discounts on trading fees, incentivizing active participation and long-term investment. The governance structure gives RCOF holders the ability to suggest and cast votes on important choices, therefore guaranteeing that the community has a say in determining the course of the platform. platform, the RCOF token also is the main money used for rewards. RCOF coins are given to traders, stakers, or providers of liquidity, therefore generating a constant incentive for involvement and loyalty. Now is the time to act! The presale is currently in its fifth stage, with tokens offered at a remarkable discount of just $0.10 each. Market analysts project a 600% return for early investors, with RCOF poised to soar to $0.60 once listed on crypto exchanges. Don’t miss your chance to be part of this transformative movement in the cryptocurrency space. With RCO Finance’s innovative approach and commitment to democratizing finance, you could be on the verge of a life-changing investment. For more information about the RCO Finance Presale: Visit RCO Finance Presale Join The RCO Finance Community Disclaimer: This is a sponsored article and is for informational purposes only. It does not reflect the views of Crypto Daily, nor is it intended to be used as legal, tax, investment, or financial advice.
Key Takeaways: Strategy has acquired an additional 20,365 Bitcoin worth nearly $2 billion, bringing its total holdings to 499,096 BTC, just shy of the psychologically significant 500,000 Bitcoin milestone. The company’s Bitcoin treasury now stands at approximately $33.1 billion, purchased at an average cost of $66,357 per coin, representing about 2.38% of all Bitcoin that will ever exist. Strategy plans to continue its aggressive acquisition approach through its “21/21” plan, which looks to add $42 billion worth of Bitcoin over the next three years through a combination of equity raises and fixed income securities. Institutional interest in Strategy’s Bitcoin-focused approach is growing, evidenced by BlackRock increasing its stake to five percent, despite Bitcoin experiencing a 10% price decline following the post-election rally. Michael Saylor’s Strategy has acquired nearly $2 billion worth of Bitcoin as it continues to expand its holdings, the intelligence software company announced on Monday, February 24, 2025. According to the February 24 announcement , the Virginia-based company acquired 20,365 BTC to its stockpile for an average of $97,514. The company’s most recent acquisition brings their Bitcoin stockpile up to 499,096 total coins purchased for $33.1 billion at $66,357 per coin. Strategy Continues Building Its Bitcoin Holdings The purchase was funded by Strategy’s convertible bond sale last week as a component of its larger Bitcoin acquisition strategy. Known as its “21/21” plan, the Saylor-led investment strategy will add $42 billion over the next three years to increase its crypto holdings. Half of this amount will come from equity raises and the other half from fixed income securities. Strategy has acquired 20,356 BTC for ~$1.99B at ~$97,514 per bitcoin and has achieved BTC Yield of 6.9% YTD 2025. As of 2/23/2025, we hodl 499,096 $BTC acquired for ~$33.1 billion at ~$66,357 per bitcoin. $MSTR https://t.co/mNWDaXRE7N — Michael Saylor (@saylor) February 24, 2025 “As a Bitcoin Treasury Company, we plan to use the additional capital to buy more bitcoin as a treasury reserve asset in a manner that will allow us to achieve higher BTC Yield,” Phong Le, President and Chief Executive Officer of Strategy (formerly MicroStrategy) said in an October 2024 statement. Strategy, which began buying Bitcoin in 2020, most recently rebranded to “Strategy” earlier this year, adopting a Bitcoin-friendly logo along with it. Market Conditions and Institutional Interest News of the company’s latest purchase comes amid growing institutional interest in the cryptocurrency, with several key traditional finance players exploring potential offerings of the coin. Earlier this month, multinational investment firm BlackRock increased its stake in Strategy to five percent. However, Bitcoin has seen a dip in price in recent weeks, with the cryptocurrency down nearly ten percent in the past month following its rally in light of the 2024 U.S. presidential election. Political Developments in Cryptocurrency Space U.S. President Donald Trump largely campaigned on enacting crypto friendly policies upon returning to the White House, establishing a crypto working group to explore regulatory frameworks in recent weeks. Saylor himself has consistently advocated for increased Bitcoin adoption in the U.S., telling Bloomberg in a recent interview that he would be open to advising the Trump administration on developing digital asset policy in the U.S. “I’m always willing to provide thoughts on constructive digital assets policy either in confidence or publicly, and if I’m asked to serve on some sort of digital assets advisory council , I probably would do so, yes,” Saylor said. The Half-Million Bitcoin Milestone Strategy’s approach to the symbolic 500,000 Bitcoin threshold represents more than a numerical milestone—it marks a psychological turning point for institutional cryptocurrency adoption . At current prices, this holdings level represents over $40 billion in digital assets controlled by a company that once focused primarily on business intelligence software. The company’s transformation into the largest corporate Bitcoin holder by orders of magnitude demonstrates how quickly corporate strategies can evolve in the digital asset space. With Strategy’s holdings now larger than many central bank gold reserves, traditional financial institutions must consider the implications of a public company controlling such substantial Bitcoin wealth. As Strategy closes in on this half-million mark, both cryptocurrency enthusiasts and traditional finance observers will be watching whether this concentration of ownership strengthens or challenges Bitcoin’s proposition as a decentralized store of value. Frequently Asked Questions (FAQs) How does Strategy’s Bitcoin holdings compare to other corporate holders? Strategy’s 499,096 Bitcoin holdings dwarf those of other public companies. According to Bitcoin Treasuries data, the next largest corporate holder is Block (formerly Square) with approximately 8,027 Bitcoin, followed by Tesla with around 5,465 Bitcoin. Strategy owns more than 20 times the Bitcoin of all other public companies combined, making it an outlier in corporate Bitcoin adoption by a substantial margin. What percentage of total Bitcoin supply does Strategy now own? With 499,096 Bitcoin, Strategy now controls approximately 2.38% of Bitcoin’s maximum supply of 21 million coins. When considering that an estimated 3-4 million Bitcoin are permanently lost and many are held in long-term storage, Strategy’s holdings represent an even more substantial percentage of the actively circulating supply, estimated at over 3% of accessible Bitcoin. How has Strategy’s stock performance correlated with Bitcoin prices? Strategy’s stock (MSTR) has become highly correlated with Bitcoin’s price movements, often with amplified volatility. Since beginning its Bitcoin purchasing strategy in August 2020, MSTR has outperformed Bitcoin itself during bull markets but also experienced steeper declines during corrections. Analysis shows Strategy stock often functions as a leveraged Bitcoin play, with beta values to Bitcoin exceeding 1.5 during some periods, meaning MSTR moves approximately 1.5 times the magnitude of Bitcoin’s price swings. What security measures does Strategy employ to protect its massive Bitcoin holdings? While Strategy doesn’t disclose all security details, Saylor has described a “quad-layered” cold storage solution involving multiple geographical locations, advanced cryptographic techniques, and partnerships with institutional custody providers. The company reportedly employs multi-signature wallets requiring multiple private keys to authorize transactions, with keys distributed across different storage systems and locations. According to filings, no single person has access to all keys, and the company maintains comprehensive backup and recovery procedures. What tax considerations affect Strategy’s Bitcoin acquisition approach? Strategy navigates several tax considerations with its Bitcoin treasury strategy. As a corporation, it must mark its Bitcoin holdings to market for impairment testing, meaning it records losses when Bitcoin’s price falls below acquisition cost but cannot recognize gains until selling. This creates asymmetric tax treatment that has affected reported earnings. Additionally, Strategy’s convertible note offerings create interest deductions that can offset taxable income. The company has strategically timed some acquisitions around fiscal periods to optimize tax positions, according to financial analysts studying their transaction patterns. What potential regulatory challenges could affect Strategy’s Bitcoin holdings? Despite a more crypto-friendly administration, Strategy still faces potential regulatory hurdles. The Financial Accounting Standards Board (FASB) continues reviewing accounting standards for digital assets, which could affect how Strategy reports its Bitcoin on financial statements. Securities regulators could impose concentration limits on public companies’ digital asset holdings or require enhanced disclosures. Additionally, potential changes to capital gains taxation or corporate tax structures could impact Strategy’s Bitcoin strategy economics. The company addresses these concerns in its risk disclosures, acknowledging regulatory uncertainty as a material consideration for investors. The post Strategy Buys $2 Billion More Worth Of Bitcoin appeared first on Cryptonews .
SEC Acknowledges Filing for Grayscale’s Cardano Spot ETF 💰Coin: Cardano ( $ADA ) $0.7209
The recent deferral of a significant Bitcoin investment bill in South Dakota highlights the ongoing complexities of cryptocurrency legislation in the United States. This setback comes as several states are
Bitcoin struggles to gain traction despite legal resolutions with the U.S. DOJ. Continue Reading: Struggles Persist in Cryptocurrency Markets Despite Legal Resolutions The post Struggles Persist in Cryptocurrency Markets Despite Legal Resolutions appeared first on COINTURK NEWS .
Cryptocurrency research firm Bernstein has released a new analysis predicting a major shift in the digital asset market as the Trump administration eases regulatory restrictions. According to the report, the previous crackdown on utility tokens and NFT projects forced the crypto industry to rely on “useless” memecoins. However, with a more relaxed regulatory environment, analysts expect liquidity to return to utility-focused sectors such as decentralized finance (DeFi), GameFi, and NFTs. The report notes that Paul Atkins, a pro-crypto regulator nominated by Trump, is expected to be appointed to head the U.S. Securities and Exchange Commission (SEC). If confirmed by the Senate, Atkins is expected to lead a new crypto task force under Republican Commissioner Hester Peirce. Bernstein analysts point to recent policy changes, including the SEC’s decision to drop securities violation charges against Coinbase and end its investigation into OpenSea, as clear indicators of a changing regulatory stance. Related News: Another Company is Boarding the Bitcoin Ship: Tech Giant Announces $1 Billion BTC Treasury Program Bernstein remains bullish on Bitcoin, citing the continued inflow of ETF funds and institutional adoption as key drivers of the price rally. The report maintains its year-end target for Bitcoin at $200,000 despite recent market declines. *This is not investment advice. Continue Reading: Bernstein Says “Big Change Will Happen” in New Analysis, Shares Bitcoin Price Prediction
Bitcoin (BTC) continued to slide on Monday, hurt by not just by massive bearish price action in most of the rest of crypto, but also as U.S. stocks struggle to pull out of their recent downturn. Falling to about $93,900 as stocks closed, bitcoin is down 1.9% in the last 24 hours. Ether (ETH) is lower by 5.9% over the same time frame. The broader CoinDesk 20 Index is down 5.1%. Following last week's major declines, an attempted rally by the major U.S. stock averages failed Monday afternoon, with the Nasdaq closing down another 1.2% and the S&P 500 0.5%. The worst performer among the major cryptos was solana's (SOL), down nearly 10% over the past 24 hours and a whopping 41% over the past month. In addition to its role in what appears to be a fading memecoin craze, SOL is also facing token unlocks in March and a 30% increase in SOL inflation due to the recent implementation of SIMD-96, which adjusted the network’s fee structure. At $151 at press time, SOL has now more than given up its post-election gains. “Trying to communicate to folks who may be feeling complacency/denial that $95,000 is still not a bad exit price relative to where I think we could trade in 6-12 months,” Quinn Thompson, founder of Lekker Capital, a crypto hedge fund that specializes in using macroeconomic data for its trades, posted on social media. Thompson estimated that there was an 80% chance that bitcoin won’t make new highs over the next three months and a 51% chance we won't see new highs for even the next 12 months. Turning to the U.S. economy, Neil Dutta, head of economic research at Renaissance Macro Research, said that risks to the labor market are growing. Real incomes are slowing down, the housing market is getting worse, state and local governments are pulling back on spending. Worryingly, market consensus sees no economic slowdown in sight, with GDP median forecast at roughly 2.5%. “If 2023 was about being surprised to the upside, there is more risk in 2025 of being surprised to the downside,” Dutta wrote. “A passive tightening of monetary policy is the dominant risk and that has important implications for financial market investors," Dutta continued. "I would anticipate a decline in longer-term interest rates and a selloff in equity prices as risk appetite wanes. For the economy, expect conditions to deteriorate in the jobs market.”
In the fast-paced world of cryptocurrency, big moves often trigger big reactions. Recently, a colossal transaction caught the attention of crypto enthusiasts and analysts alike: a staggering 154,650,766 USDC – equivalent to approximately $154.6 million – was burned at the USDC Treasury. This significant event, first reported by the ever-vigilant Whale Alert on X (formerly Twitter), raises several crucial questions. What does a USDC burn of this magnitude really mean? Why would such a vast amount of stablecoin be deliberately destroyed? And, most importantly, how does this impact the broader crypto market and you as a crypto participant? Decoding the USDC Burn: What Does It Really Mean? Before we delve into the specifics of this massive burn, let’s clarify what it means when we say cryptocurrency is ‘burned.’ In simple terms, burning crypto tokens is akin to destroying physical currency. It involves permanently removing tokens from circulation, sending them to an unusable address, often referred to as an ‘eater address’ or ‘burn address.’ This process is irreversible and effectively reduces the total supply of the cryptocurrency. But why would anyone want to reduce the supply of a digital asset, especially a stablecoin like USDC designed to maintain a 1:1 peg with the US dollar? Here’s a breakdown of why USDC burns are conducted: Redemptions: The primary reason for USDC burns is user redemptions. When users want to exchange their USDC back for US dollars, Circle, the issuer of USDC, facilitates this process. The redeemed USDC tokens are then burned to take them out of circulation, ensuring that the circulating supply reflects the actual demand for the stablecoin. Think of it like this: if people cash out their gift cards, the store reduces the number of gift cards in circulation. Supply Management: Burning can be a tool for managing the overall supply of USDC. If there’s a decrease in demand for USDC, or if Circle needs to adjust the circulating supply for strategic reasons, burning tokens can help maintain the peg and overall stability of the stablecoin. Transparency and Trust: Publicly reporting and executing token burns adds to the transparency of stablecoin operations. It demonstrates that the issuer is actively managing the supply and responding to market dynamics, fostering trust among users. In essence, the burning mechanism is a fundamental part of how stablecoins like USDC maintain their peg and operational integrity. It’s a sign of activity and management, not necessarily a negative event. The $154M Question: Why Such a Massive Burn? Now, let’s zoom in on the reported $154 million USDC burn . While burns are a routine operation, the sheer scale of this transaction is noteworthy. Several factors could contribute to such a significant amount being burned: Large Redemptions: A burn of this magnitude likely indicates substantial redemptions of USDC for US dollars. This could be due to various reasons, such as large holders cashing out, market participants reducing their stablecoin holdings, or shifts in investment strategies. Market Conditions: Broader market conditions can influence USDC demand. For instance, during periods of market uncertainty or downturn, investors might prefer to hold fiat currency or other assets, leading to increased redemptions of stablecoins. Whale Activity: As Whale Alert reported this transaction, it’s plausible that a large holder, or a ‘whale,’ initiated a significant redemption. Whale transactions often have a noticeable impact on the market due to their size. To understand the precise reasons behind this specific burn, we’d need more detailed information from Circle. However, the fact remains that a $154 million burn is a considerable event that warrants attention. Impact on the Crypto Market: Ripples from the Burn So, how does a large USDC burn like this affect the crypto market ? The impact can be multifaceted and, at times, subtle. Here are some potential implications: Impact Area Potential Effect USDC Supply Directly reduces the circulating supply of USDC. This can, in theory, make the remaining USDC slightly more scarce. Price Stability Burning helps maintain the 1:1 peg with the US dollar. By managing supply, Circle aims to keep USDC value stable, even during market fluctuations. Market Sentiment Large burns can sometimes be interpreted in different ways. Some might see it as a sign of reduced demand for USDC, potentially negative. Others might view it as efficient supply management, which is positive for long-term stability. Liquidity While burning reduces overall supply, it might also slightly impact the liquidity of USDC, particularly in specific trading pairs or exchanges. However, given USDC’s large market cap, this impact is usually minimal. Broader Crypto Flows Significant USDC redemptions and burns could indicate shifts in capital flows within the crypto ecosystem. It might suggest investors are moving funds out of stablecoins and potentially into other assets or fiat. It’s important to note that a USDC burn , in isolation, is not necessarily a bullish or bearish signal for the entire crypto market . It’s one data point among many that investors and analysts consider when assessing market dynamics. Blockchain Transparency: Following the Burn Trail One of the core tenets of cryptocurrency and blockchain technology is transparency. All USDC transactions, including burns, are recorded on the public Ethereum blockchain (and other blockchains where USDC is issued). This transparency allows anyone to verify the reported burn and track the flow of funds. You can typically use blockchain explorers to: Verify the Transaction: Search for the burn transaction using the reported details (like the amount and timestamp) on a blockchain explorer like Etherscan for Ethereum. Trace the Flow: Examine the addresses involved in the transaction. You can see the USDC moving from the USDC Treasury to the burn address. Monitor Burn Trends: By regularly checking on-chain data, you can observe trends in USDC burns and mints, gaining insights into the overall supply dynamics of the stablecoin. This level of transparency is a significant advantage of blockchain-based stablecoins. It empowers users to independently verify claims and understand the mechanisms at play. Tokenomics in Action: USDC Burn as a Supply Adjustment Tool The concept of tokenomics – the economics of a cryptocurrency token – is crucial for understanding events like USDC burns . Tokenomics encompasses the supply, distribution, and mechanisms that govern a cryptocurrency’s ecosystem. Burning is a direct example of tokenomics in action, specifically related to supply adjustment. Here’s how tokenomics principles are reflected in USDC burns: Deflationary Mechanism: Burning tokens is a deflationary mechanism. By reducing the total supply, it can, in theory, increase the scarcity of the remaining tokens. In the case of USDC, this is less about price appreciation (as it’s a stablecoin) and more about maintaining its peg and reflecting actual demand. Demand Responsiveness: The burn mechanism allows USDC’s supply to be responsive to market demand. When demand decreases, burns reduce supply; when demand increases, minting increases supply. This dynamic equilibrium is essential for a stablecoin’s health. Long-Term Stability: Effective tokenomics, including burn mechanisms, contributes to the long-term stability and reliability of USDC as a stablecoin. It reinforces user confidence and encourages wider adoption. Understanding the tokenomics of cryptocurrencies, especially stablecoins, is vital for anyone participating in the crypto space. It provides a framework for interpreting events like token burns and their potential implications. Actionable Insights: What Should Crypto Users Consider? So, what should you, as a crypto user or investor, take away from this $154 million USDC burn ? Here are some actionable insights: Stay Informed: Keep an eye on announcements from Circle and reports from reputable sources like Whale Alert. Understanding significant events like burns is crucial for staying ahead in the crypto market. Context is Key: Don’t interpret a large burn in isolation. Consider the broader market context, including overall crypto market sentiment, regulatory developments, and macroeconomic factors. Diversification: Events like this highlight the importance of diversification. Don’t put all your eggs in one basket, whether it’s a single cryptocurrency or stablecoin. Understand Stablecoin Mechanics: Take the time to understand how stablecoins like USDC work, including their burn and mint mechanisms. This knowledge empowers you to make more informed decisions. Monitor On-Chain Data: Explore blockchain explorers and on-chain analytics tools to track USDC supply changes and other relevant metrics. This can provide valuable insights into market trends. Conclusion: A Burn as a Sign of a Dynamic Crypto Ecosystem The burning of over $154 million USDC is a significant event, underscoring the dynamic nature of the cryptocurrency market. While it primarily reflects large-scale redemptions and supply management by Circle, it also offers a glimpse into the inner workings of stablecoins and their crucial role in the broader crypto ecosystem. By understanding the mechanics of USDC burns , their potential impact on the crypto market , and the underlying blockchain tokenomics , you can navigate the crypto landscape with greater clarity and make more informed decisions. This event serves as a potent reminder of the constant evolution and inherent transparency within the world of digital assets. To learn more about the latest crypto market trends, explore our article on key developments shaping Ethereum price action.
Citadel Securities is poised to become a significant player in the cryptocurrency market as it seeks partnerships with major exchanges for enhanced liquidity. Despite its innovative intentions, the firm is