HashKey Group has officially launched HashKey Chain on mainnet, marking a significant milestone in the Ethereum Layer 2 landscape just eight months after its initial announcement. This new development positions
Ohio’s House Bill 703 aims to establish a state-backed Bitcoin reserve, marking a significant shift in how the state manages its treasury holdings. Various states, including Texas and Pennsylvania, are
Regulatory challenges are still an issue for assets like Solana and XRP and their potential ETFs, but the potential appointment of a pro-crypto SEC chair could shift the regulatory environment. In Europe, Bitwise launched a Solana staking ETP to expand its market presence, while Bitcoin ETFs in the U.S. surpassed gold ETFs in assets under management. Analysts now predict that Bitcoin could reach $200,000 by 2025, driven by spot ETF inflows and adoption. Bitcoin and Ether Combo ETF Expected to Pave Way for New Crypto ETFs The crypto exchange-traded fund (ETF) landscape in the United States is poised for major developments in 2025, and a Bitcoin (BTC) and Ethereum (ETH) combo ETF is expected to lead a new wave of crypto funds. Bloomberg senior ETF analyst Eric Balchunas and fellow analyst James Seyffart believe that this inaugural ETF will be followed by others tracking assets like Litecoin (LTC) and Hedera (HBAR). Seyffart acknowledged that there are still some regulatory challenges faced by certain crypto assets, especially after the Securities and Exchange Commission’s (SEC) rejection of Solana (SOL) ETFs on Dec. 7. He explained that ETFs tied to assets like SOL and XRP are unlikely to advance until a new SEC chair is selected and assumes office. The analysts pointed out that Litecoin and Hedera are viewed more favorably by regulators, which increases their likelihood of approval. Litecoin’s status as a Bitcoin fork and its potential classification as a “commodity” boosts its chances as well. The fact that Hedera is not labeled as a security by the SEC also gives it a regulatory advantage. In contrast, XRP and SOL face more serious regulatory hurdles. The SEC classified both as securities, and Ripple is already engaged in a legal battle over XRP’s status. Despite these challenges, Balchunas and Seyffart are still a bit uncertain about the investor demand for Litecoin and Hedera ETFs, even if they are approved. The potential shift in the SEC’s stance on crypto is linked to Trump’s expected nomination of Paul Atkins, a pro-crypto businessman and former SEC commissioner, as the agency's next chair. This move could start a shift toward de-regulation and more crypto-friendly policies. The current SEC Chair Gary Gensler announced his resignation , effective on Trump’s inauguration day on Jan. 20. Bitwise Launches Solana Staking ETP in Europe Solana’s regulatory hurdles are not holding everyone back. Bitwise launched a Solana staking exchange-traded product (ETP) in Europe under the stock ticker BSOL to strengthen its presence in the European crypto market. The ETP was introduced on Dec. 17 in partnership with Marinade, a self-custodial automation tool, and offers an annual percentage yield (APY) of 6.48%. This is more than competitors like 21Shares, which provides an APY of about 5.49%. BSOL’s very competitive management fee of 0.85% also challenges its European rivals, including 21Shares. The ETP was launched as Bitwise still awaits regulatory approval for a spot Solana ETF in the United States. In November, the firm registered a statutory trust in Delaware as a precursor to filing with the SEC. While Bitwise awaits the green light, VanEck’s head of digital asset research Matthew Sigel is still confident that the approval odds for a U.S. spot Solana ETF will be “overwhelmingly high” by the end of 2025. Bitwise’s European expansion started in August with the launch of its first Solana ETP, ESOL, which does not offer staking rewards. The introduction of BSOL addresses this gap by providing an integrated staking feature. Bitwise’s European footprint was also boosted by its acquisition of ETC Group, adding nine crypto ETPs to its portfolio and raising its assets under management to over $4.5 billion. The ESOL product currently holds about $24 million in assets under management. (Source: Bitwise ) Bitwise is still optimistic about the future of crypto markets. Investment chief Matt Hougan and research head Ryan Rasmussen predict that at least five crypto unicorns, including Circle and Kraken, will go public by 2025. Bitcoin ETFs Surpass Gold in AUM Balchunas and Seyffart might be right about Bitcoin’s power in the ETF space. Net assets in U.S. Bitcoin ETFs surpassed those in gold funds for the first time. On Dec. 16, Bitcoin ETFs collectively reached $129 billion in assets under management (AUM), surpassing U.S. gold ETFs, according to K33 Research. Eric Balchunas pointed out that the AUM figure includes both spot Bitcoin ETFs and those tracking the crypto through derivatives like futures. He also shed some light on the very rapid growth of Bitcoin ETFs, and stated that it is remarkable that they are competing with gold only 11 months after spot Bitcoin ETF launched. If spot ETFs alone are considered, Bitcoin ETFs hold $120 billion compared to gold’s $125 billion. The rise of Bitcoin ETFs started in January with the launch of spot BTC funds after a lengthy approval process by the SEC. Since then, Bitcoin ETFs have grown very quickly, and broke the $100 billion in net assets by November. Analysts believe this impressive growth was due to a more positive outlook for Bitcoin, which was spurred by market dynamics after Donald Trump’s election victory. BlackRock’s iShares Bitcoin Trust (IBIT) leads the market by managing close to $60 billion in assets, and surpassed BlackRock’s own iShares Gold Trust (IAU) in November. Investors are increasingly turning to Bitcoin and gold as part of a “debasement trade,” which is a strategy aimed at hedging against economic uncertainties. JPMorgan noticed this trend back in October, and linked it to rising geopolitical tensions, persistent inflation concerns, and high government deficits. Bitcoin Poised for $200K by 2025 Bitcoin’s price is expected to see a lot of growth in 2025, driven by strong institutional demand and increasing adoption, according to analysts at Bitfinex. In a Dec. 17 market report , they predicted that Bitcoin could reach a minimum of $145,000 by mid-2025, with a best-case scenario of $200,000 under more favorable conditions. While they still predict some price volatility in the first quarter of the year, they believe any dips will be short-lived because of large inflows into spot Bitcoin ETFs and the rising global and institutional adoption. Since the launch of U.S.-based spot Bitcoin ETFs in January, these funds attracted approximately $36 billion, making them major players in the market with holdings exceeding 1.13 million BTC. This institutional interest is considered to be a key factor in stabilizing Bitcoin’s price during market corrections. The current Bitcoin price of around $104,000 is already prompting long-term bullish projections from well known voices in the crypto industry. Nic Carter of Castle Island Ventures suggested that Bitcoin could eventually reach $900,000 to match gold’s market cap. Bitfinex analysts shared various scenarios for Bitcoin’s future trajectory. If the price mirrors the 2021 cycle, it could potentially reach $339,000, which is a 40% increase above its moving averages. In a more conservative scenario resembling the extended 2017 cycle, Bitcoin might peak at around $290,000 by early 2026. Speculation around the United States creating a strategic Bitcoin reserve also adds another layer of intrigue. After Donald Trump’s election victory, pro-crypto Senator Cynthia Lummis shared her plans to propose legislation for the U.S. government to buy and hold Bitcoin for at least 20 years. Crypto analyst Tyler Durden believes that such a move by any nation could disrupt the traditional four-year market cycles and create a new narrative for Bitcoin’s price trajectory.
Bitcoin price today trades at No data found for bitcoin on 10 minutes ago on No data found for bitcoin on 10 minutes ago after hitting a daily high of No data found for bitcoin on 10 minutes ago today after a No data found for bitcoin on 10 minutes ago% move on December 18. Will BTC continue its ascent to set up new highs? Will profit-taking tirgger a correction? Bitcoin Price Today: Why is BTC up? Bitcoin price today is down No data found for bitcoin on 10 minutes ago% and trades at No data found for bitcoin on 10 minutes ago. The reason behind the recent drop could be investors taking a break ahead of the FOMC meeting. This key macroeconomic event will play a pivotal role in determining the bias for the next part of the bull run. A dovish outlook from the Fed could resume the uptrend, on the other hand, hawkish comments could trigger a crash for BTC and the rest of the crypto markets. *bitcoin price updated as of No data found for bitcoin on 10 minutes ago. Value of BTC trades at No data found for bitcoin on 10 minutes ago, bringing the year-to-date gain from 56% on October 20 to roughly 148% as of December 18. The YTD performance has slumped due to the recent BTC crash. Although many altcoins have shot up over triple digits, Bitcoin is catching up. Ethereum price’s YTD performance is lackluster, stands around 73%, and is well below BTC. Although Bitcoin is the largest cryptocurrency by market capitalization, Bitcoin’s popularity is due to its first-mover advantage and its being a secure, decentralized network. In addition, many narratives, like digital gold, inflation hedges, and uncorrelated assets, have kept BTC at the forefront of the crypto market since its inception in 2009. Can BTC Price To End 2024 on Bullish Note? Industry veterans’ speculation of a bull run post-US elections was right, and Bitcoin is likely to end 2024 on a positive note. Many even expect this six-digit target for BTC to sustained without crashes in 2025. This bullishness can be attributed to the historical returns , whihc shows that Bitcoin has always performed massively in the fourth and first quarters . Historical Bitcoin Price Performance With that said, Bitcoin’s market capitalization, which stands at No data found for bitcoin on 10 minutes ago, could finally hit the $2 trillion mark. Bitcoin’s Market Capitalization While Bitcoin’s market cap hovers around No data found for bitcoin on 10 minutes ago, with Ethereum, the duo controls nearly 65% of the total cryptocurrency market capitalization. Despite the seven-month consolidation, Bitcoin’s $1.93 trillion market cap remains strong, anticipating it reaching $2 trillion before 2025. BTC: A composition of 24-hour Trading Volume Being the top crypto has its benefits; more people tend to flock toward the asset. Likewise, BTC’s 24-hour trading volume stands at No data found for bitcoin on 10 minutes ago. Binance, one of the largest cryptocurrency exchanges, contributes a major portion of this volume. Binance’s share of BTC’s 24-hour trading volume comprises spot and perpetuals trading. While spot volume hovers around 11%, perpetual volume is 41%. Exchanges like OKX, Bitget, etc, follow Binance. Notable Bitcoin Blockchain Upgrades With a market cap of $1.93 trillion, it is necessary for the network to remain secure, decentralized, and scalable. This is possible by upgrading the Bitcoin network regularly. Here are some notable upgrades the Bitcoin network has received or planned to receive since its inception in 2009. Key Bitcoin Blockchain Upgrades Since 2009 Here are some key milestone upgrades to the Bitcoin network over the past decade. 2020-2024: Taproot Upgrade (2021): Improved Bitcoin’s smart contract functionality, allowing for more complex transactions and enhanced privacy.Muir Glacier Upgrade (2020): Delayed the “ice age” that would have slowed down the network, ensuring the continued smooth operation of Bitcoin. 2017-2019: Segregated Witness (SegWit) Upgrade (2017): Increased the block size limit, allowing for more transactions to be processed on the network, and improved the overall scalability of Bitcoin. Schnorr/Tapscript Upgrade (proposed): Aims to further improve the efficiency and scalability of Bitcoin transactions, but has not yet been activated. SegWit2x (canceled): A proposed upgrade that aimed to increase the block size limit, but was ultimately canceled due to lack of consensus. 2015-2016: Bitcoin Core 0.12.0 Upgrade (2016): Introduced several improvements, including better wallet management and enhanced security features. BIP66 Upgrade (2015): Standardized the way Bitcoin transactions are verified, improving the overall security and reliability of the network. 2013-2014: Bitcoin Core 0.9.0 Upgrade (2014): Introduced a new wallet format and improved the overall performance of the Bitcoin client. BIP0016 Upgrade (2013): Enabled the use of payment protocol, allowing for more efficient and secure transactions. 2010-2012: Pay-to-Script-Hash (P2SH) Upgrade (2012): Introduced a new type of transaction that allows for more complex payment scenarios, improving the overall flexibility of the Bitcoin network. Bitcoin Core 0.6.0 Upgrade (2011): Introduced several improvements, including better wallet management and enhanced security features. 2009-2010: Bitcoin Core 0.3.0 Upgrade (2009): One of the earliest upgrades to the Bitcoin network, introducing several key features and improvements. The post Bitcoin Price Today Is Down 4%, BTC Trades At $104,262 appeared first on CoinGape .
Bitcoin drops 2% as markets await Fed's interest rate decision. Significant altcoins experience sharper losses compared to Bitcoin. Continue Reading: Bitcoin Experiences Decline as Markets Anticipate Fed Announcement The post Bitcoin Experiences Decline as Markets Anticipate Fed Announcement appeared first on COINTURK NEWS .
Senator Elizabeth Warren wants clarity on the ethical standards applied to billionaire Elon Musk in his role as a top adviser to President-elect Donald Trump’s transition team. In a letter to Trump, Warren emphasized the need for Musk to address potential conflicts of interest if he is to continue advising the incoming administration. The letter from Warren highlights existing rules published by the General Services Administration. These rules mandate that transition team members avoid both real and perceived conflicts of interest. The democratic party Senator from Massachusetts pointed out that members are prohibited from engaging in matters that could affect their financial interests. Despite these stipulations, it remains unclear whether Musk, whose net worth is valued at $474 billion by the Bloomberg Billionaire Index , is subject to these standards. Musk, renowned for founding Tesla and SpaceX, holds a dual role in the transition process. He is not only serving as an adviser but also co-leading a proposed advisory board aimed at eliminating government waste, named the Department of Government Efficiency (D.O.G.E.). Warren questions Musk’s ethics and political influence Speaking to MSNBC, Warren expressed alarm over Musk’s unchecked influence, especially given his business empire’s entanglement with government contracts and regulatory issues. Warren argued that multiple of the Tesla CEO’s companies are directly involved with the US government. To her, Musk’s close relationship with US President-elect Trump could possibly make those companies “richer.” “These are conflicts of interest in levels that have never been seen before,” she said in the interview. Elizabeth Warren takes issue with @elonmusk advising Trump on efficiency. Apparently creating electric cars, reusable rockets, and brain interfaces counts as "nothing for society" in her world. pic.twitter.com/sHps2kQuXC — Mario Nawfal (@MarioNawfal) December 18, 2024 Musk has been a visible and vocal supporter of Trump since his presidential campaign. His efforts included hosting events, making media appearances and funding initiatives to boost voter turnout. Notably, Musk’s advocacy for Trump’s platform aligns closely with his business interests. For instance, Trump has pledged to accelerate federal initiatives, such as SpaceX’s Mars exploration programs, while Musk’s Tesla benefits from federal subsidies for its electric vehicle infrastructure. “Putting Mr. Musk in a position to influence billions of dollars of government contracts and regulatory enforcement without a stringent conflict of interest agreement in place is an invitation for corruption on a scale not seen in our lifetimes,” Warren’s letter remarked. The US Senator also noted that ethical oversight is critical to ensuring the government does not become a vehicle for enriching America’s wealthiest individuals. Ties to the Trump administration The extent of Musk’s involvement in the administration extends beyond advocacy. He has emerged as a central figure in shaping government policies and spending priorities, raising questions about impartiality. Meanwhile, several of Musk’s ventures, including Tesla, SpaceX, Starlink, and Neuralink, face regulatory scrutiny or have contracts with federal agencies. Tesla is currently under investigation by the National Highway Traffic Safety Administration for pedestrian accidents involving its vehicles. Additionally, the US Securities and Exchange Commission (SEC) has raised potential securities fraud concerns regarding Musk’s recent activities. Other enterprises, such as Neuralink and Starlink, also have pending regulatory matters before federal authorities. When questioned by Time magazine about potential conflicts of interest, Trump dismissed concerns, stating that Musk prioritizes the country over his business interests. “ He considers this to be his most important project, ” Trump said. However, Warren’s letter contests this narrative, citing Musk’s vast financial stakes and the potential for ethical breaches. She called for transparency and a robust conflict-of-interest agreement to safeguard public trust in the administration. In a statement addressing Warren’s concerns, Trump’s transition team spokesperson Karoline Leavitt dismissed the senator’s critique as political theater. “… Pocahontas (Warren) can play political games and send toothless letters, but the Trump-Vance transition will continue to be held to the highest ethical and legal standards possible—a standard unfamiliar to a career politician whose societal impact is 1/1024th of Elon Musk’s .” From Zero to Web3 Pro: Your 90-Day Career Launch Plan
DUBAI, UAE, Dec. 18, 2024 /PRNewswire/ – Bybit , the world’s second-largest cryptocurrency exchange by trading volume, is scaling up its Trading Bot’s capacity to meet rising customer demands amidst the surging crypto trading volumes. Increasing grid limits for all users of its Trading Bot , Bybit aspires to empower traders to realize higher trading potentials and achieve strategic goals with its advanced tool. The Bybit Trading Bot offers much needed flexibility and precision in a heated market, and comes with additional perks for VIPs. As traders race to ride the bull run in recent weeks, the uplift in grid trading capabilities stands to enhance the Trading Bot experience for all users: Higher grid limits for all users : Grid limits get a significant boost across the board: non-VIP traders enjoy a 44% increase for Spot Grid Bot and a remarkable 127% increase for Futures Grid Bot. VIP exclusives : VIP users are entitled to next-level privileges — with Spot grid limits increasing by up to 110% and Futures grid limits up to 83% more compared to non-VIPs . BTC reached a new milestone in 2024, breaking its all-time-high and crossing the $100,000 threshold in the latest rally. With the surge of capital inflows in recent weeks, interest and activity levels in the overall crypto markets continue to be on the rise. “I’m thrilled to introduce the premium features for our Trading Bot users. The enhancements offer an advanced, denser grid count, specifically tailored to maximize arbitrage potential in volatile market conditions,” said Jerry Li, Head of Financial Products at Bybit . “This benefits all users and provides additional room for potential gains for VIP users. With more grid intervals, VIP users have greater agility to capitalize on even minor price movements, turning fluctuations into consistent opportunities. This added advantage not only enhances trading efficiency but also aligns with our commitment to providing clients with cutting-edge tools for smarter and more profitable trades on Bybit.” Bybit Trading Bot Experience Bybit’s Trading Bot is an automated tool that helps users power up their grid trading strategy for active traders. Designed to capitalize on market volatility, traders can entrust executions with Bybit Trading Bot by setting a series of buy and sell orders within a predefined price range. A well-configured bot empowers users to capitalize on price fluctuations with minimal manual effort, enhancing both consistency and efficiency for avid crypto investors. Especially effective in sideways or volatile markets, the tool can be set up to ensure grid profits exceed trading fees under normal conditions. With options to copy strategies from expert traders or share your own, the bot caters to both beginners and experienced traders, facilitating flawless strategy execution in automatic trading across Bybit’s Spot and Futures markets. Find out more: Bybit Trading Bot – Enhanced Grid Limits #Bybit / #TheCryptoArk About Bybit Bybit is the world’s second-largest cryptocurrency exchange by trading volume, serving over 50 million users. Established in 2018, Bybit provides a professional platform where crypto investors and traders can find an ultra-fast matching engine, 24/7 customer service, and multilingual community support. Bybit is a proud partner of Formula One’s reigning Constructors’ and Drivers’ champions: the Oracle Red Bull Racing team. For more details about Bybit, please visit Bybit Press . For media inquiries, please contact: media@bybit.com For more information, please visit: https://www.bybit.com For updates, please follow: Bybit’s Communities and Social Media Discord | Facebook | Instagram | LinkedIn | Reddit | Telegram | TikTok | X | Youtube
The post US Crypto Tax Crackdown: US Files First Criminal Case appeared first on Coinpedia Fintech News The United States has filed its first-ever criminal tax evasion case focused entirely on cryptocurrency, signaling tougher rules ahead for crypto investors. Recently, U.S. has sentenced Frank Richard Ahlgren III, a Texas resident, to two years in prison for evading over $1 million in taxes from Bitcoin transactions. This is the country’s first criminal tax evasion case focused entirely on cryptocurrency. Ahlgren, an early Bitcoin investor, hid $3.7 million in profits between 2017 and 2019 by inflating purchase prices and using tools to mask transactions. Despite selling $4 million worth of Bitcoin, he filed false tax returns and failed to report his gains. In addition to prison, Ahlgren must pay $1,095,031 in restitution. Authorities pointed out that cryptocurrency tax evasion will face severe penalties, as IRS tools now track blockchain transactions effectively.
Metaplanet, Japan’s notable investment firm, is reshaping its future by officially entering the Bitcoin treasury sphere, amidst a market resurgence for cryptocurrency. This strategic pivot comes as Bitcoin hit an
The post How Bitwise Solana Staking ETP Delivers Top Staking Rewards appeared first on Coinpedia Fintech News Good news for the crypto enthusiasts in the European Union. The famous crypto asset management firm, Bitwise, just launched its Bitwise Solana Staking ETP (BSOL). They launched the product on Deutsche Börse Xetra. It is a great product for investors looking for institutional grade exposure to Solana. It is paired with the benefits of staking rewards. This launch shows the growing dominance of Solana in the blockchain space. Why This ETP Stands Out This isn’t Bitwise’s first rodeo in staking ETPs. They previously introduced Ethereum and Aptos staking ETPs, but the new Solana focused product feels special. Solana is famous for its incredible speed of 65k transactions per second and scalable architecture. The blockchain is quickly becoming a favorite among developers as well as investors. With Bitwise Solana Staking ETP, the firm taps into its potential and gives European investors low cost and transparent access to Solana staking. BSOL is designed to provide superior staking returns, which are like dividends for crypto. But unlike regular staking, this product removes the complexities. It’s fully backed and linked to the Compass Solana Total Return Monthly Index, ensuring transparency in tracking performance. Solana is one of the finest blockchains available in the market with a whole ecosystem surrounding it. This launch represents Bitwise’s confidence in Solana’s future. As Hunter Horsley, the company’s CEO, pointed out, Solana is becoming a rising star in the crypto asset world. The ETP underscores Bitwise’s strategy to offer high-quality staking products that meet the needs of serious investors. What to Expect The company’s total client assets have already surpassed $12 billion in 2024, and its recent acquisition of ETC Group solidifies its position in Europe. BSOL is part of a broader European push, following earlier hits like their Ethereum staking ETP and physically backed Bitcoin ETP. With Bitwise Solana Staking ETP , retail investors will get easier access to innovative crypto products. The asset management firm plans to keep expanding its European portfolio with more cutting-edge offerings while maintaining its commitment to transparency and low costs. This product launch is a step forward in making crypto more accessible and rewarding not just for institutions but for retail investors as well. The future looks promising, and Bitwise seems determined to lead the way.