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Bitcoin’s price dynamics on Jan. 24, 2024, present a complex picture of market fluctuations and investor sentiment. With prices oscillating between $39,878 and $40,069 in the past hour and a broader 24-hour range of $38,505 to $40,515, the cryptocurrency exhibits notable volatility. Bitcoin Bitcoin’s market capitalization stands at $785 billion, with a 24-hour trade volume of $27.02 billion. These figures underscore the leading cryptocurrency’s continued presence in the market. While BTC is up 2.5% today, it is down 6% over the past week and 12% over the past fortnight, illustrating the short-term recovery amidst a medium-term downtrend. This fluctuation is critical for traders to consider in their strategies. On the 1-hour chart, BTC shows a recent bounce from the low at $38,505, reaching a local high of $40,515, hinting at a short-term uptrend. The current consolidation phase, characterized by modest moves, suggests a temporary equilibrium between buyers and sellers. A potentia...

A U.S. blockchain and lending startup is seeking the U.S. Securities and Exchange Commission’s permission to issue an interest-bearing stablecoin. The startup said the digital token will be used as an alternative to existing stablecoins such as tether and USDC. Figure Technologies’ Draft Registration Statement A new blockchain and lending startup, Figure Technologies Inc., has reportedly approached the U.S. Securities and Exchange Commission (SEC) to launch an interest-bearing stablecoin. If approved, the stablecoins, which will be registered as “face-amount certificates,” will be available to both retail and institutional investors in the U.S. According to a Bloomberg report , Figure Technologies aims to offer the first stablecoin that will be regulated as a security in the United States. The company’s draft registration statement, filed under the name of subsidiary Figure Certificate Co., said the stablecoin will be issued using blockchain technology. In the meantime, Figure Ma...

Recently approved spot bitcoin exchange-traded funds (ETFs) are likely to divert investor interest and trading volume away from centralized exchanges (CEXs), according to Anthony Bevan, CEO of the wealth management firm Blockguard. Bevan, a full-time trader and investor, added that spot bitcoin ETFs are likely to attract investors who are keen on “more regulated and mainstream investment avenues.” Decentralized ETFs CEXs may have to enhance or upscale their service to match users’ high standards if they are to compete with spot bitcoin ETFs. Commenting on the wealth management system known as decentralized ETFs, the Blockguard CEO claimed that it excels at providing users or investors with “curated portfolios of thoroughly researched and back-tested coins.” Besides helping investors diversify their investments, decentralized ETFs can make the investment process “more efficient and accessible,” Bevan claimed. In his written answers sent to Bitcoin.com News, the CEO asserts that th...

“Genesis Cat,” a 1-of-1 digital artwork in the Quantum Cats collection on the Bitcoin blockchain, has achieved a remarkable sale price of $254,000 along with several other notable sales at a recent Sotheby’s auction. ‘Genesis Cat’ Fetches Over Quarter Million Dollars in Sotheby’s Sale “ Genesis Cat ,” a unique piece of digital art created on the Bitcoin blockchain through the Ordinals protocol, sold for $254,000 at a recent Sotheby’s auction. Created by the artist and engineer Francisco “FAR” Alarcon , Genesis Cat is a special 1-of-1 piece in the Quantum Cats collection, produced by the Taproot Wizards group. Initially estimated to sell for between $15,000 and $20,000, the artwork significantly exceeded expectations. Sotheby’s Metaverse account on X said of the sale , “With over 50 Bids, ‘Genesis Cat’ by @0xfar for Taproot Wizards’ has achieved an impressive $254,000 (6.31 BTC ), 12X over the high estimate.” The Quantum Cats collection, comprising 3,333 distinct digital cats, is...

The Colorado Securities regulator has accused the pastor of an online-only church of illegally pocketing $1.3 million which was raised via the sale of a cryptocurrency he created. A judge in Colorado has since ordered the closure of the pastor and his wife’s bank accounts for 14 days. ‘The Lord Brought This Cryptocurrency to Me’ The securities regulator in Colorado has charged Reverend Eli Regalado, creator of the cryptocurrency INDX coin and pastor of the online-only Victorious Grace Church, with selling “worthless” INDX coins for $3.4 million sometime in 2022 and during the first half of 2023. Tung Chan, Colorado’s securities commissioner, filed a lawsuit on Jan. 16, accusing Regalado of ensuring that investors in his coin did not recoup their investment. According to a report by the Denver Post , Regalado pocketed $1.3 million from the token sales, which he spent on a Range Rover, jewelry, luxury handbags, cosmetic dentistry, and boat rentals. The lawsuit suggests that Regalado...

U.S. Senator Elizabeth Warren criticized the illegal use of cryptocurrency assets by bad actors. Commenting on a report issued by the U.S. Government Accountability Office (GAO), Warren declared that “rogue nations are using crypto to dodge sanctions and undermine our national security,” calling to establish increased money laundering rules on these assets. U.S. Senator Elizabeth Warren: ‘Rogue Nations Are Using Crypto to Dodge Sanctions’ Elizabeth Warren, a U.S. senator, has commented on the role digital assets fulfill for bad actors, which use them to sidestep sanctions established by the U.S. government. In a post on X, Warren criticized the use of these tools for these purposes, calling for establishing controls that would contribute to diminishing this use. Commenting on a U.S. Government Accountability Office (GAO) that examines the use of digital assets to evade sanctions, Warren stated : A new U.S. GAO report confirms that rogue nations are using crypto to dodge sanctions...

In 2023, financial losses on the BNB Smart Chain due to exploits or breaches fell by 85% to $161.1 million, according to the findings of a new Avenger DAO study report. The study data also shows that Q2 of 2023 was the costliest quarter, with approximately $69.5 million lost across 127 incidents. Scams Were the Costiliest Attack Vector in 2023 According to a survey study conducted by Avenger DAO and its partners, the value of assets lost to hacks and other security breaches on the BNB Smart Chain in 2023 fell by 85% to $161.1 million. In comparison, a little over $1.1 billion was lost in far fewer incidents in 2022. The study data also shows Q2 of 2023 to be the costliest that year with approximately $69.5 million having been lost across 127 incidents. On the other hand, the last quarter of 2023 had the least damages with $15.6 million from 86 incidents. However, unlike in 2021 and 2022 when hacks accounted for a disproportionate share of the financial losses, scams ($87.9 milli...