65. Bitcoin Shatters Records! Dominates History with Epic Surge
Bitcoin has it’s biggest monthly increase in history. Hold on tight because more may be coming!
Crypto Corner
State attorneys general argue that the SEC has overstepped its bounds in the lawsuit against Kraken, claiming that the SEC is attempting to assert jurisdiction that should belong to the states.
Coinbase has once again brought a case to the U.S. Supreme Court, this time regarding arbitration. This marks the second instance where the crypto exchange has appeared before the high court to argue about these agreements, which have widespread implications.
Nigerian authorities have detained executives from Binance as part of an investigation into the crypto exchange. According to reports, these detentions are not classified as arrests, as clarified by a National Security spokesman to Bloomberg.
Coinbase has introduced a "Smart Wallet" feature to eliminate the need for lengthy seed phrases. This addition to the Coinbase Wallet SDK will include embedded wallets powered by wallet as a service.
Bank of America, Wells Fargo to Offer Spot Bitcoin ETFs to Clients: Bloomberg
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NFT Spotlight
NFT of the week: Metascapes #1465
Bitcoin non-fungible tokens (NFTs) have surpassed $100 million in trading volume on Magic Eden in February.
OpenSea is facing backlash after delisting NFT Pass from Fractional Uprising.
Bitcoin Buzz
Bitcoin spot trading volumes on centralized exchanges have surged back to levels last witnessed during the FTX crash, driven by sustained daily demand for ETFs investing in the top cryptocurrency.
Assets under management (AUM) for Hong Kong's largest Bitcoin futures exchange-traded fund (ETF) have skyrocketed by 500%, surpassing the $100 million mark since October 2023.
U.S. government crypto wallets, holding nearly $1 billion in bitcoin seized from the Bitfinex hack, have recently become active. This follows guilty pleas from individuals associated with the hack, including Ilya Lichtenstein and Heather "Razzlekhan" Morgan.
Bitcoin Miners
Blockchain data reveals that crypto miners continue to sell their Bitcoin holdings, even as the reward halving approaches. The number of Bitcoin held in wallets associated with miners has reached its lowest level since mid-2021.
Bitcoin mining stocks have plunged by over 27% despite the recent rally in Bitcoin's price. Head analyst Mitchell Askew from Blockware Solutions noted that a comparable "divergence" happened twice in 2023, presenting a "great opportunity" to purchase mining stocks at a discounted price.
Quote Of The Week:
“Your body is not a temple, it's an amusement park. Enjoy the ride.”
- Anthony Bourdain
Have a great weekend!