Author name: Peter

Onchain Bitcoin Fees in 2024: A Closer Look at Transaction Costs and Delays

Bitcoin Network's Average Transfer Fee in 2024 Recent data analysis spanning the last 36 days indicates that the average transfer fee on the Bitcoin network has consistently remained above $3.68. Even for median-sized transactions, the costs have not gone below the $1.67 threshold. As of February 6, 2024, there is a significant backlog of 221,799 […]

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South Korea’s FSS Governor to Discuss Crypto Regulation with SEC Chair Gary Gensler

The chief of South Korea's financial watchdog is planning a visit to the United States to engage in discussions with Gary Gensler, the Chairman of the U.S. Securities and Exchange Commission (SEC), about crypto regulation. The main focus of the discussions will be on the SEC's recent approval of spot bitcoin exchange-traded funds (ETFs). The

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Bitcoin Holdings of Spot ETFs Surge as Blackrock and Fidelity Lead the Way

Blackrock's IBIT and Fidelity's FBTC Hold Nearly 75% of Bitcoin Reserves In recent reports, it has been revealed that several spot bitcoin exchange-traded funds (ETFs) have significantly increased their bitcoin holdings. These ETFs, including Blackrock's IBIT and Fidelity's FBTC, have amassed a substantial amount of BTC since their launch on January 11, 2024, with the

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Former Terraform Labs Financial Officer Extradited to South Korea on Fraud Charges

The former financial officer of Terraform Labs, Han Chang-joon, has been extradited from Montenegro to South Korea to face criminal charges related to fraud. The Montenegro police confirmed that the decision to extradite Han was made by the country's Justice Ministry. Facing Criminal Charges in South Korea Han Chang-joon, who previously held the position of

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JPMorgan Warns of Increased Risk in Crypto Market Due to Tether’s Lack of Regulatory Compliance

Tether's Lack of Compliance and Transparency Poses Risks to Crypto Market JPMorgan, a global investment bank, has raised concerns about the growing risk in the crypto market attributed to Tether's lack of regulatory compliance and transparency. According to JPMorgan analysts, stablecoin issuers that adhere to existing regulations are more likely to benefit from the upcoming

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Taproot Wizards’ Quantum Cats NFTs Achieve $11.3M in Bitcoin Despite Technical Hurdles

The recent sale of Taproot Wizards' Quantum Cats non-fungible tokens (NFTs) has proven to be a success, gathering a total of 268.3 bitcoins, equivalent to $11.3 million based on current market value. This achievement is particularly impressive considering the initial technical difficulties that caused delays in the sale. Despite these obstacles, the sale has already

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The Decline of Bitcoin-to-Gold Ratio: Is Gold Outshining Bitcoin?

Introduction Commodity market expert Mike McGlone from Bloomberg has recently expressed concerns about the declining performance of Bitcoin compared to gold. According to McGlone, the bitcoin/gold ratio has dropped by approximately 40% since its peak in 2021. Bitcoin's Underperformance against Gold Mike McGlone, a renowned commodity analyst, has pointed out that Bitcoin has failed to

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Latam Insights: El Salvador to Maintain Bitcoin as Legal Tender, Milei Drops Crypto Tax Opportunities, and Venezuela Hit by Gold Sanctions

El Salvador to Maintain Bitcoin as Legal Tender El Salvador's Vice President Felix Ulloa confirmed that bitcoin will continue to be recognized as legal tender in the country even if President Nayib Bukele gets reelected. This decision comes despite the International Monetary Fund (IMF) urging El Salvador to abandon the use of cryptocurrency as legal

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Bitcoin Pioneer Nayib Bukele Reelected in El Salvador by a Landslide

Bitcoin Advocate Nayib Bukele Gets Reelected With 85% of the Popular Vote President Nayib Bukele, a pioneer in introducing the law that made bitcoin legal tender in El Salvador, has been reelected as president of the country in the ballot completed on Sunday. The Latam leader, who will reportedly continue implementing bitcoin-related policies, won by

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