The Saudi Arabian government is reportedly considering the creation of a $40 billion investment fund dedicated to artificial intelligence (AI) initiatives. In fact, it is potentially becoming the largest investor in the AI space. Partnership with a16z According to reports, Saudi Arabia’s Public Investment Fund (PIF) is contemplating a collaboration with Silicon Valley venture capital […]
Despite Ethereum’s recent 20% price correction over the past week, investor sentiment remains bullish, buoyed by futures data suggesting continued faith in the cryptocurrency’s long-term trajectory. Ether’s price soared to near $4,100 in early March, marking a significant 20% increase before encountering resistance and undergoing a subsequent correction. The cryptocurrency tested the $3,200 support level […]
Bitcoin (BTC) experienced its most significant single-day loss since November 2022, plummeting over 8% on Tuesday. This sharp decline, according to Farside, coincided with record outflows from spot exchange-traded funds (ETFs), exacerbating the cryptocurrency’s downward spiral. The recent price decline has been driven by various factors, including significant outflows from spot exchange-traded funds (ETFs), as […]
According to a recent bulletin from crypto research firm Kaiko, the liquidity gap in the crypto market, known as the “Alameda Gap,” has nearly vanished as market liquidity rebounds to pre-collapse levels. This recovery comes after a prolonged period of decreased liquidity following the shutdown of FTX and Alameda Research in November 2022. Recovery to […]
Standard Chartered, a British multinational bank, has raised its bullish outlook on Bitcoin. It is forecasting the cryptocurrency to hit a staggering $150,000 in value by the end of this year. Analysts from the bank attribute this optimistic projection to the continued success of Bitcoin exchange-traded funds (ETFs). This has witnessed significant inflows from traditional […]
In a significant development amid Nigeria’s crackdown on the crypto industry, a Federal court has ordered Binance to furnish the country’s Economic and Financial Crimes Commission (EFCC) with detailed data on all Nigerian users trading on its platform. “The applicant’s application dated and filed February 29, 2024, is hereby granted as prayed. That an order […]
Vanguard CEO Tim Buckley remains resolute in his opposition to Bitcoin exchange-traded funds. This is mounting pressure from customers and inquiries regarding the firm’s stance. Despite competitors offering such products, Buckley maintains skepticism about including Bitcoin ETFs in long-term retirement portfolios, citing the asset’s volatile nature. Cautionary Tone from Vanguard In a recent video published […]
In a significant legal development, a UK judge has dismissed Dr. Craig Wright’s assertion of being the pseudonymous creator of Bitcoin, Satoshi Nakamoto. Judge James Mellor’s ruling categorically refutes Wright’s claims. He delivers a blow to his longstanding assertion of being the mastermind behind the world’s leading cryptocurrency. Decisive Ruling Debunks Wright’s Claims Contrary to […]
In a strategic move to secure its digital assets, El Salvador has transferred a substantial portion of its bitcoin holdings to a cold wallet, as revealed by President Nayib Bukele. The decision underscores the nation’s commitment to fortify its position in the realm of cryptocurrency. This is signaling a significant development in the country’s financial […]
Bitcoin faced a sharp decline today, dropping below the $69,000 mark after reaching an all-time high just days ago. The significant pullback was attributed to various factors, including a substantial movement of over $400 million in Bitcoin by Grayscale. In fact, decline in Bitcoin’s price coincided with the release of hot inflation figures by the […]