A warning by BlackRock that the market could see some volatility, along with a slower-than-expected path of interest rate cuts from the Federal Reserve puts into question how Bitcoin will do in the future.&nbsp;

Austin Arnold, co-host of Altcoin Daily, sat down with investor Brock Pierce to discuss everything from interest rates and broader economic factors to why those factors help or hurt Bitcoin's appeal.

That was followed by Pierce reiterating BlackRock's sentiments, explaining, "We're not going to be seeing cut rates, and as long as there are high yields and high interest rates in other asset classes, Bitcoin is less appealing." He also reaffirmed that Bitcoin has remained highly correlated with the general market, contrary to early speculation that it would hedge against economic turmoil.

"Interest rates lowering makes Bitcoin more attractive ... we have not broken free as a non-correlated asset yet."

Asked about the possibility of a rate hike or no cuts at all, Pierce deferred to BlackRock's chief, saying "I trust that [Larry Fink] probably knows better than I do." Investors are pricing in a roughly 70 per cent chance the Fed will cut interest rates by 25-basis points next week, according to the CME's Fed Watch tool.

Although acknowledging that Bitcoin's price might drop below $40,000, Pierce remained sceptical if the Fed has such immense influence on Bitcoin's price, suggesting the market might not be as responsive as many would expect to rate changes.

Pierce also pointed to BlackRock's involvement in the cryptocurrency space as a force for good. "I think that BlackRock is probably having as big a positive impact on the industry as a presidential candidate," he said, adding the institution's endorsement lends credibility to Bitcoin.

According to Pierce, all these mainstream financial big-name endorsements help wear off some scepticism over Bitcoin's future.

He concluded by telling his audience to be careful and aware: "I've never told anyone to make a substantial investment in bitcoin... invest in yourself, in your own knowing." He called for listeners to invest based on understanding, not third-party opinion, and look at Bitcoin from a long-term perspective.

A warning by BlackRock that the market could see some volatility, along with a slower-than-expected path of interest rate cuts from the Federal Reserve puts into question how Bitcoin will do in the future.

A warning by BlackRock that the market could see some volatility, along with a slower-than-expected path of interest rate cuts from the Federal Reserve puts into question how Bitcoin will do in the future. Austin Arnold, co-host of Altcoin Daily, sat down with investor Brock Pierce to discuss everything from interest rates and broader economic factors to why those factors help or hurt Bitcoin's appeal. That was followed by Pierce reiterating BlackRock's sentiments, explaining, "We're not going to be seeing cut rates, and as long as there are high yields and high interest rates in other asset classes, Bitcoin is less appealing." He also reaffirmed that Bitcoin has remained highly correlated with the general market, contrary to early speculation that it would hedge against economic turmoil. "Interest rates lowering makes Bitcoin more attractive ... we have not broken free as a non-correlated asset yet." Asked about the possibility of a rate hike or no cuts at all, Pierce deferred to BlackRock's chief, saying "I trust that [Larry Fink] probably knows better than I do." Investors are pricing in a roughly 70 per cent chance the Fed will cut interest rates by 25-basis points next week, according to the CME's Fed Watch tool. Although acknowledging that Bitcoin's price might drop below $40,000, Pierce remained sceptical if the Fed has such immense influence on Bitcoin's price, suggesting the market might not be as responsive as many would expect to rate changes. Pierce also pointed to BlackRock's involvement in the cryptocurrency space as a force for good. "I think that BlackRock is probably having as big a positive impact on the industry as a presidential candidate," he said, adding the institution's endorsement lends credibility to Bitcoin. According to Pierce, all these mainstream financial big-name endorsements help wear off some scepticism over Bitcoin's future. He concluded by telling his audience to be careful and aware: "I've never told anyone to make a substantial investment in bitcoin... invest in yourself, in your own knowing." He called for listeners to invest based on understanding, not third-party opinion, and look at Bitcoin from a long-term perspective.

BlackRock's volatility warning casts doubt over Bitcoin’s future appeal

Bitcoin and other cryptocurrencies plunged after earlier gains were erased, as digital assets got caught in a wild trading session across markets after a disappointing US jobs report.

Bitcoin jumped as much as 1.6 per cent following the August employment report Friday morning in New York, only to turn decidedly lower about an hour later. The original crypto asset fell 4.5 per cent at about $53,555, its lowest price since Aug. 5, as of 2:54 p.m. in New York. Ether, the second-biggest cryptocurrency, tumbled almost 6 per cent.

US payrolls rose by 142,000 in August, less than the 165,000 average forecast in a Bloomberg survey, and the prior two months' figures were revised lower by 86,000. Swaps traders have increased the chances that the US central bank will cut rates by a half percentage point, or 50 basis points, when policymakers meet later this month to announce what is broadly expected to be the first rate cut in over four years. But traders later revised whether the report was bad enough to inspire that big of a cut.

A looser monetary policy is good news for speculative assets like crypto.

“Today it’s more of a risk-asset selloff,” said Cosmo Jiang, portfolio manager at Pantera Capital. “I think expectations for a 50 basis-point cut in September got too high, and my view is it is super unlikely to happen. Mixed employment data this morning, or in other words not obviously bad, lowers the probability of a 50 basis-point cut. And risk assets — equities, crypto — are all down on that.”

Stocks also fell, with the S&amp;P 500 opening higher before sliding 1.8 per cent in roughly the last hour of trading. Bitcoin and other major tokens have been tightly tracking global equities in recent weeks. The 30-day correlation coefficient for a gauge of the largest 100 digital assets and MSCI's index of world shares is near 0.60, one of the highest levels over the past two years, data compiled by Bloomberg show. A reading of 1 indicates assets are moving in lockstep, while minus 1 signals an inverse tie.

“Bitcoin has been responding to macro events in a highly correlated manner to equities,” said Benjamin Celermajer, co-chief investment officer at Magnet Capital.

Record inflows into US spot-Bitcoin exchange-traded funds ignited the record-breaking rally in the largest digital asset earlier in the year. But that rally then fizzled, and the ETFs have lost money in recent days amid outflows.

Bitcoin and other cryptocurrencies plunged after earlier gains were erased, as digital assets got caught in a wild trading session across markets after a disappointing US jobs report.

Bitcoin and other cryptocurrencies plunged after earlier gains were erased, as digital assets got caught in a wild trading session across markets after a disappointing US jobs report. Bitcoin jumped as much as 1.6 per cent following the August employment report Friday morning in New York, only to turn decidedly lower about an hour later. The original crypto asset fell 4.5 per cent at about $53,555, its lowest price since Aug. 5, as of 2:54 p.m. in New York. Ether, the second-biggest cryptocurrency, tumbled almost 6 per cent. US payrolls rose by 142,000 in August, less than the 165,000 average forecast in a Bloomberg survey, and the prior two months' figures were revised lower by 86,000. Swaps traders have increased the chances that the US central bank will cut rates by a half percentage point, or 50 basis points, when policymakers meet later this month to announce what is broadly expected to be the first rate cut in over four years. But traders later revised whether the report was bad enough to inspire that big of a cut. A looser monetary policy is good news for speculative assets like crypto. “Today it’s more of a risk-asset selloff,” said Cosmo Jiang, portfolio manager at Pantera Capital. “I think expectations for a 50 basis-point cut in September got too high, and my view is it is super unlikely to happen. Mixed employment data this morning, or in other words not obviously bad, lowers the probability of a 50 basis-point cut. And risk assets — equities, crypto — are all down on that.” Stocks also fell, with the S&P 500 opening higher before sliding 1.8 per cent in roughly the last hour of trading. Bitcoin and other major tokens have been tightly tracking global equities in recent weeks. The 30-day correlation coefficient for a gauge of the largest 100 digital assets and MSCI's index of world shares is near 0.60, one of the highest levels over the past two years, data compiled by Bloomberg show. A reading of 1 indicates assets are moving in lockstep, while minus 1 signals an inverse tie. “Bitcoin has been responding to macro events in a highly correlated manner to equities,” said Benjamin Celermajer, co-chief investment officer at Magnet Capital. Record inflows into US spot-Bitcoin exchange-traded funds ignited the record-breaking rally in the largest digital asset earlier in the year. But that rally then fizzled, and the ETFs have lost money in recent days amid outflows.

Bitcoin falls to 1-month low as jobs data sparks market volatility

The past week has seen the movement of upwards of over $1 billion in Bitcoin off centralised exchanges. It has been a mass withdrawal, which the crypto community interpreted as a bullish signal.

According to a report from crypto.news, major exchanges have seen outflows of around 16,500 BTC during the last week, which was valued at approximately $1 billion. What that number means is not only a great quantity of Bitcoin but also a trend toward self custody or cold storage, where investors would rather hold their assets outside the reach of centralised entities.

“You really have to pay attention to where that Bitcoin is flowing to develop a better analysis of what’s happening,” Brian Dixon, CEO of Off the Chain Capital told Aaron Arnold, co-host of Altcoin Daily on TheStreet Crypto. “If it’s going into self-custody, I would view that as a bullish indicator.”

For most investors, self-custody suggests long-term holding of the asset. Others could be positioning for a price spike, maybe influenced by recent events like Bitcoin's halving, which in the past has preceded surges in price because of the decreased rate of new Bitcoin entering the market. “It’s (self-custody) actually going to shrink supply. That could create a narrative around scarcity,” stated Brian.

Bitcoin, over the course of the week, fell from about $64,100 to a low of $57,886 within the last week but has recovered a bit since, trading in a range of around $58,000 to $59,000 on Tuesday.

The past week has seen the movement of upwards of over $1 billion in Bitcoin off centralised exchanges. It has been a mass withdrawal, which the crypto community interpreted as a bullish signal.

The past week has seen the movement of upwards of over $1 billion in Bitcoin off centralised exchanges. It has been a mass withdrawal, which the crypto community interpreted as a bullish signal. According to a report from crypto.news, major exchanges have seen outflows of around 16,500 BTC during the last week, which was valued at approximately $1 billion. What that number means is not only a great quantity of Bitcoin but also a trend toward self custody or cold storage, where investors would rather hold their assets outside the reach of centralised entities. “You really have to pay attention to where that Bitcoin is flowing to develop a better analysis of what’s happening,” Brian Dixon, CEO of Off the Chain Capital told Aaron Arnold, co-host of Altcoin Daily on TheStreet Crypto. “If it’s going into self-custody, I would view that as a bullish indicator.” For most investors, self-custody suggests long-term holding of the asset. Others could be positioning for a price spike, maybe influenced by recent events like Bitcoin's halving, which in the past has preceded surges in price because of the decreased rate of new Bitcoin entering the market. “It’s (self-custody) actually going to shrink supply. That could create a narrative around scarcity,” stated Brian. Bitcoin, over the course of the week, fell from about $64,100 to a low of $57,886 within the last week but has recovered a bit since, trading in a range of around $58,000 to $59,000 on Tuesday.

Bitcoin exchange reserves drop to their lowest level since 2018

Marathon Digital Holdings is expanding the horizons of cryptocurrency investments, exploring altcoins alongside its well-established bitcoin mining operations.

In a recent discussion, Roundtable anchor, Rob Nelson, was joined by Sam Price, host of CryptoLifer, and Salman Khan, CFO at Marathon Digital Holdings. The conversation quickly shifted to the company’s intriguing move into Kaspa, a lesser-known altcoin, sparking interest among investors.

Rob Nelson began the discussion by highlighting Sam Price's enthusiasm about Marathon's diversified strategy. Sam, eager to dive into the details, commended the company for its strategic presence at the Bitcoin Conference and queried Salman Khan about the venture into Kaspa.

Salman responded by underscoring Marathon's dedication to innovation. He explained that while the company's core focus remains on bitcoin mining, their decision to allocate a small fraction of energy to Kaspa mining is driven by the high margins and potential for added value to shareholders.

"The fact is that we have attracted some really serious talent in the last couple of years and we've got some very smart people in the company and one of the things that we have been able to incubate within the company is out of the box ideas," he said. In total, the company has mined more than $15 million worth of Kaspa since September of 2023.

By leveraging existing resources, they aim to maximise returns without straying too far from their primary focus on bitcoin. This move, while unconventional, highlights Marathon's readiness to explore new opportunities in the constantly evolving crypto landscape.

Rob Nelson and Sam Price both expressed interest in how this strategy aligns with Marathon's long-term objectives. Salman reassured them that while Kaspa offers an exciting new avenue, bitcoin remains central to their operations. The ability to generate high-margin returns from Kaspa provides a unique opportunity to enhance their bitcoin holdings, ensuring that the company stays ahead in the competitive world of digital assets.

Marathon Digital Holdings is expanding the horizons of cryptocurrency investments, exploring altcoins alongside its well-established bitcoin mining operations. In a recent discussion, Roundtable anchor, Rob Nelson, was joined by Sam Price, host of CryptoLifer, and Salman Khan, CFO at Marathon Digital Holdings.

Marathon Digital Holdings is expanding the horizons of cryptocurrency investments, exploring altcoins alongside its well-established bitcoin mining operations. In a recent discussion, Roundtable anchor, Rob Nelson, was joined by Sam Price, host of CryptoLifer, and Salman Khan, CFO at Marathon Digital Holdings. The conversation quickly shifted to the company’s intriguing move into Kaspa, a lesser-known altcoin, sparking interest among investors. Rob Nelson began the discussion by highlighting Sam Price's enthusiasm about Marathon's diversified strategy. Sam, eager to dive into the details, commended the company for its strategic presence at the Bitcoin Conference and queried Salman Khan about the venture into Kaspa. Salman responded by underscoring Marathon's dedication to innovation. He explained that while the company's core focus remains on bitcoin mining, their decision to allocate a small fraction of energy to Kaspa mining is driven by the high margins and potential for added value to shareholders. "The fact is that we have attracted some really serious talent in the last couple of years and we've got some very smart people in the company and one of the things that we have been able to incubate within the company is out of the box ideas," he said. In total, the company has mined more than $15 million worth of Kaspa since September of 2023. By leveraging existing resources, they aim to maximise returns without straying too far from their primary focus on bitcoin. This move, while unconventional, highlights Marathon's readiness to explore new opportunities in the constantly evolving crypto landscape. Rob Nelson and Sam Price both expressed interest in how this strategy aligns with Marathon's long-term objectives. Salman reassured them that while Kaspa offers an exciting new avenue, bitcoin remains central to their operations. The ability to generate high-margin returns from Kaspa provides a unique opportunity to enhance their bitcoin holdings, ensuring that the company stays ahead in the competitive world of digital assets.

Why Marathon Digital is expanding its mining operations beyond Bitcoin

After the deep sell-off in cryptos, the thesis that bitcoin is an alternative to gold falls flat. If anything, Monday's crash shows cryptos acted like risk assets rather than safe-haven bets. Can bitcoin become a 'safe' bet for investors? Take a look at this report for more.

Bitcoin as 'digital gold' thesis falls flat

We look at Bitcoin's surge to the highest since mid-June after former President Donald Trump expanded his pro-crypto agenda. Expectations of Federal Reserve's rate cuts also triggered cryptos higher.

Trump's Crypto agenda boosts Bitcoin bets

Former President Donald Trump and Republican presidential nominee—is touting a new campaign promise: an American strategic bitcoin reserve should he be elected again. Trump vowed that the country would never sell any of the bitcoin it holds today. This move shook political and cryptocurrency markets alike.

"If I am elected, it will be the policy of my administration, the United States of America, to keep 100 per cent of all the bitcoin the US government currently holds or acquires into the future," he said. "This will serve in effect as the core of the strategic national Bitcoin stockpile."

Of note is the fact that the US government already holds more than $14 billion worth of bitcoin, largely seized by the Department of Justice. According to Fundstrat's Head of Digital Asset Strategy, Sean Farrell, compliance with Trump's commitment to not sell would be positive for price stability in Bitcoin. Despite what followed, the promise of Trump really did make bitcoin rather volatile, but with no dramatic changes.

The promise of Trump on bitcoin followed an even bolder commitment made by presidential candidate Robert F. Kennedy Jr. In an exclusive interview with TheStreet Crypto, RFK Jr. said he would order the US government to begin increasing its bitcoin reserves until they were equivalent in size to the nation's gold holdings.

“I’m gonna do a basket of hard currencies, platinum and gold and other hard currencies, and begin issuing at least a class of Treasury bills that are anchored to hard currency,” he said. "I would like to have the federal government begin to buy Bitcoin and over my term in office, [and] ultimately have an equivalent amount of Bitcoin that we have gold."

Security at the Bitcoin Conference in Nashville was tight, where Trump made his announcement. Brandon Green, Chief of Staff for the conference organisers, indicated that Secret Service efforts were up "tremendously" as thousands of attendees lined up outside the conference.

It was also one of the largest fundraisers for Trump, with reports stating that he held private meetings with crypto members for over $800,000 a person—a big financial stakes-type event.

Meanwhile, presumptive Democratic presidential nominee, Kamala Harris, reportedly declined an invitation to the Bitcoin Conference, marking what's already a big difference in cryptocurrency policy between the potential presidential hopefuls.

Trump's strategic stockpile pledge for Bitcoin underlines the growing influence of cryptocurrency in political discourse and may have long-term implications for US financial policy and bitcoin's market dynamics. Further developments and debates are bound to come from the forthcoming elections regarding the role that digital assets could play in national strategy.

Former President Donald Trump and Republican presidential nominee—is touting a new campaign promise: an American strategic bitcoin reserve should he be elected again.

Former President Donald Trump and Republican presidential nominee—is touting a new campaign promise: an American strategic bitcoin reserve should he be elected again. Trump vowed that the country would never sell any of the bitcoin it holds today. This move shook political and cryptocurrency markets alike. "If I am elected, it will be the policy of my administration, the United States of America, to keep 100 per cent of all the bitcoin the US government currently holds or acquires into the future," he said. "This will serve in effect as the core of the strategic national Bitcoin stockpile." Of note is the fact that the US government already holds more than $14 billion worth of bitcoin, largely seized by the Department of Justice. According to Fundstrat's Head of Digital Asset Strategy, Sean Farrell, compliance with Trump's commitment to not sell would be positive for price stability in Bitcoin. Despite what followed, the promise of Trump really did make bitcoin rather volatile, but with no dramatic changes. The promise of Trump on bitcoin followed an even bolder commitment made by presidential candidate Robert F. Kennedy Jr. In an exclusive interview with TheStreet Crypto, RFK Jr. said he would order the US government to begin increasing its bitcoin reserves until they were equivalent in size to the nation's gold holdings. “I’m gonna do a basket of hard currencies, platinum and gold and other hard currencies, and begin issuing at least a class of Treasury bills that are anchored to hard currency,” he said. "I would like to have the federal government begin to buy Bitcoin and over my term in office, [and] ultimately have an equivalent amount of Bitcoin that we have gold." Security at the Bitcoin Conference in Nashville was tight, where Trump made his announcement. Brandon Green, Chief of Staff for the conference organisers, indicated that Secret Service efforts were up "tremendously" as thousands of attendees lined up outside the conference. It was also one of the largest fundraisers for Trump, with reports stating that he held private meetings with crypto members for over $800,000 a person—a big financial stakes-type event. Meanwhile, presumptive Democratic presidential nominee, Kamala Harris, reportedly declined an invitation to the Bitcoin Conference, marking what's already a big difference in cryptocurrency policy between the potential presidential hopefuls. Trump's strategic stockpile pledge for Bitcoin underlines the growing influence of cryptocurrency in political discourse and may have long-term implications for US financial policy and bitcoin's market dynamics. Further developments and debates are bound to come from the forthcoming elections regarding the role that digital assets could play in national strategy.

Trump unveils strategic bitcoin stockpile pledge as campaign promise

The Bitcoin Conference in Nashville saw high-calibre speakers, with Former President Donald Trump and presidential candidate Robert F. Kennedy Jr. This event has given a major push to bitcoin, underlining its ever-growing impact on discourse and acceptance in the mainstream. Moderated by Rob Nelson, the Roundtable anchor, joined by Noah Newton, CEO of Moby Media, and Sasha Mitchell, head of operations at BeL2.

Nelson started off by highlighting the importance of the event. “The Bitcoin Conference this week in Nashville will feature major political figures, including former President Trump and presidential candidate RFK Jr.,” he said, pointing out that their involvement shows how far bitcoin has come. The US government's sizable stash of more than 200,000 bitcoin, worth about $13 billion, is another indication of where cryptocurrency stands in national finance.

Newton shared his view on the future of bitcoin in national reserves. “I think most countries will soon allocate a percentage of their reserves to bitcoin,” he predicted. Newton highlighted bitcoin’s rapid growth, noting, “Look at where bitcoin was in 2017 compared to now. The cat’s out of the bag.” Optimistic about the involvement of influential figures like Trump and RFK Jr., their participation at the conference indicates to him a bullish sign for bitcoin's future.

Nelson also theorised on larger implications of political and business leaders making a move toward bitcoin. Elon Musk's recent activity on X, featuring a cryptic comment from Bitcoin CEO David Bailey, indicates increasing engagement from tech leaders. Nelson observed, “We’re seeing more and more tech, business, and political leaders getting into the bitcoin space publicly.”

Sasha Mitchell went on to explain the greater purview of blockchain technology: "We're looking at two core categories: Finance and digital rights management." He pointed out that the blockchain can efficiently manage digital rights and create trust in a trustless environment. Two current movements, he brought out, were governments and enterprises moving into the bitcoin space, involving the new opportunities the technology presents for new types of smart economies.

The conference of Bitcoin in Nashville not only showed the growing clout of cryptocurrency but also gave a cue from the future when digital assets will play a big role in national and global finance. The engagement of influential figures and growing interest from both the public and private sectors hint toward a promising trajectory for Bitcoin and blockchain.

The Bitcoin Conference in Nashville saw high-calibre speakers, with Former President Donald Trump and presidential candidate Robert F. Kennedy Jr. This event has given a major push to bitcoin, underlining its ever-growing impact on discourse and acceptance in the mainstream.

The Bitcoin Conference in Nashville saw high-calibre speakers, with Former President Donald Trump and presidential candidate Robert F. Kennedy Jr. This event has given a major push to bitcoin, underlining its ever-growing impact on discourse and acceptance in the mainstream. Moderated by Rob Nelson, the Roundtable anchor, joined by Noah Newton, CEO of Moby Media, and Sasha Mitchell, head of operations at BeL2. Nelson started off by highlighting the importance of the event. “The Bitcoin Conference this week in Nashville will feature major political figures, including former President Trump and presidential candidate RFK Jr.,” he said, pointing out that their involvement shows how far bitcoin has come. The US government's sizable stash of more than 200,000 bitcoin, worth about $13 billion, is another indication of where cryptocurrency stands in national finance. Newton shared his view on the future of bitcoin in national reserves. “I think most countries will soon allocate a percentage of their reserves to bitcoin,” he predicted. Newton highlighted bitcoin’s rapid growth, noting, “Look at where bitcoin was in 2017 compared to now. The cat’s out of the bag.” Optimistic about the involvement of influential figures like Trump and RFK Jr., their participation at the conference indicates to him a bullish sign for bitcoin's future. Nelson also theorised on larger implications of political and business leaders making a move toward bitcoin. Elon Musk's recent activity on X, featuring a cryptic comment from Bitcoin CEO David Bailey, indicates increasing engagement from tech leaders. Nelson observed, “We’re seeing more and more tech, business, and political leaders getting into the bitcoin space publicly.” Sasha Mitchell went on to explain the greater purview of blockchain technology: "We're looking at two core categories: Finance and digital rights management." He pointed out that the blockchain can efficiently manage digital rights and create trust in a trustless environment. Two current movements, he brought out, were governments and enterprises moving into the bitcoin space, involving the new opportunities the technology presents for new types of smart economies. The conference of Bitcoin in Nashville not only showed the growing clout of cryptocurrency but also gave a cue from the future when digital assets will play a big role in national and global finance. The engagement of influential figures and growing interest from both the public and private sectors hint toward a promising trajectory for Bitcoin and blockchain.

Bitcoin Conference in Nashville spotlights cryptocurrency’s ascendancy with high-profile speakers

Bitcoin rallied Monday to its highest in two weeks amid heightened prospects for the US presidential candidate Donald Trump's victory following an attempt on his life. The prospects of Trump's win soared after he was shot in the ear during a campaign rally in the state of Pennsylvania on Saturday. Reports indicated that he was recovering well from the attack, according to his campaign team. Trump has portrayed himself as a pro-cryptocurrency candidate.

Bitcoin jumped 8.6 per cent to $62,508 in a session high earlier at $62,698. This leap brought Bitcoin's year-to-date gains to 47 per cent. Ether also gained 6.8 per cent to $3,322.

Trump is battling Democratic President Joe Biden for the presidency in November's US election and has been antagonistic toward Democratic efforts to rein in the cryptocurrency industry. &nbsp;At a fundraiser in San Francisco in June, Trump promoted himself as a champion of cryptocurrency, although he has given no details on what his crypto policy would look like.

"He's certainly positioned himself as pro-crypto and as the odds of his reelection were galvanised by the shooting on the weekend, it's certainly put a big boost underneath the bid in crypto markets and bitcoin obviously, just an absolute standout," said Tony Sycamore, a market analyst at IG.

Trump is due to speak at the Bitcoin 2024 conference in Nashville, Tennessee, on July 27, the organisers of the conference said last week.

Bitcoin had a blistering start to the year, underpinned by the launch of exchange-traded funds in the United States that drove it to its record of $73,803.25 about mid-March. Since then, the struggle persisted, hitting four-month lows at the beginning of July as traders fretted over the likely dumping of tokens from defunct Japanese exchange Mt. Gox.

"We had four weeks of declines on the back of the Mt. Gox news...but the rebound, it looks to me like it's got further to go and I wouldn't be surprised seeing it head back up towards, at least towards $65,000 by the end of this week," said IG's Sycamore.

The assassination plot of Trump brought new volatility to the cryptocurrency market, underlining once more the intricate relationships between politics and digital assets.&nbsp;

Bitcoin rallied Monday to its highest in two weeks amid heightened prospects for the US presidential candidate Donald Trump's victory following an attempt on his life.

Bitcoin rallied Monday to its highest in two weeks amid heightened prospects for the US presidential candidate Donald Trump's victory following an attempt on his life. The prospects of Trump's win soared after he was shot in the ear during a campaign rally in the state of Pennsylvania on Saturday. Reports indicated that he was recovering well from the attack, according to his campaign team. Trump has portrayed himself as a pro-cryptocurrency candidate. Bitcoin jumped 8.6 per cent to $62,508 in a session high earlier at $62,698. This leap brought Bitcoin's year-to-date gains to 47 per cent. Ether also gained 6.8 per cent to $3,322. Trump is battling Democratic President Joe Biden for the presidency in November's US election and has been antagonistic toward Democratic efforts to rein in the cryptocurrency industry. At a fundraiser in San Francisco in June, Trump promoted himself as a champion of cryptocurrency, although he has given no details on what his crypto policy would look like. "He's certainly positioned himself as pro-crypto and as the odds of his reelection were galvanised by the shooting on the weekend, it's certainly put a big boost underneath the bid in crypto markets and bitcoin obviously, just an absolute standout," said Tony Sycamore, a market analyst at IG. Trump is due to speak at the Bitcoin 2024 conference in Nashville, Tennessee, on July 27, the organisers of the conference said last week. Bitcoin had a blistering start to the year, underpinned by the launch of exchange-traded funds in the United States that drove it to its record of $73,803.25 about mid-March. Since then, the struggle persisted, hitting four-month lows at the beginning of July as traders fretted over the likely dumping of tokens from defunct Japanese exchange Mt. Gox. "We had four weeks of declines on the back of the Mt. Gox news...but the rebound, it looks to me like it's got further to go and I wouldn't be surprised seeing it head back up towards, at least towards $65,000 by the end of this week," said IG's Sycamore. The assassination plot of Trump brought new volatility to the cryptocurrency market, underlining once more the intricate relationships between politics and digital assets.

Trump's assassination attempt catalyses Bitcoin's price jump

BlackRock Inc., the world's leading asset manager, has announced its assets under management (AUM) rose to record highs of $10.65 trillion in the second quarter, helped by rising asset values in client portfolios and large inflows into the company's exchange-traded funds (EFTs).

Market conditions and AI stocks boost AUM

Just recently, the stock market has hit a record high, fueled by optimism about a soft landing for the US economy, and the interest in artificial intelligence-linked shares—the S&amp;P 500 index that bounced around 4 per cent in the latest reported quarter—further helps BlackRock's AUM rise above $9.43 trillion a year earlier and $10.5 trillion in the first quarter.

Growth opportunities in acquisitions and strategy

BlackRock announced that it will be making two major acquisitions in the last half of the year, strengthening its footing in areas of infrastructure investment and private markets.

"We see unbelievable growth opportunities for our clients and shareholders for 2024 and beyond," said Larry Fink during a conference call; he is the chairman and CEO of BlackRock.

He highlighted the potential for investments in the energy transition and AI data centres.

In the latest development, BlackRock signed an agreement with private markets data power Preqin for the purchase of almost $3.2 billion. &nbsp;

The acquisition has taken place on the heels of a $12.5 billion deal through the takeover of Global Infrastructure Partners that has placed the company in a leading position for projects under global infrastructure investment.

The deals would be finalised in closing in the current year.

Changing gear to high-margin products

Kyle Sanders, senior equity research analyst at Edward Jones, said the move was all about shifting to more lucrative product lines.

"There's been more movement on the institutional side because they want to move into higher-margin, higher-fee products, and alternatives would be at the top of the list," he said. He added the recent private markets expansion was "ridiculously high fees compared to an iShares ETF."

Record ETF inflows and revenue growth

BlackRock's total net inflows for the quarter amounted to $81.57 billion, slightly topping last year's $80.16 billion, which was enormous for ETFs, pulling in $83 billion in the best start to a year on record.

Investment Advisory and Administration fees generally form in percentage terms of the AUM and clocked at $3.72 billion went up by 8.6 per cent.

Revenue from technology services rose 10 per cent and reached $395 million, driven by the persistent demand for the firm's investment risk management platform Aladdin.

The average rising revenue for the firm was 8 per cent and reached $4.81 billion. Profit net climbed further in the same track and rose to $1.50 billion, or $9.99 per share, from $1.37 billion, or $9.06 per share from the previous year.

Stock performance

While the earnings report looks sound, BlackRock shares have still been retreating little by little.

Since the start of the year, the stock has risen by 2 per cent, while the S&amp;P 500 has advanced by 17.7 per cent.

(With inputs from Reuters)

BlackRock Inc., the world's leading asset manager, has announced its assets under management (AUM) rose to record highs of $10.65 trillion in the second quarter, helped by rising asset values in client portfolios and large inflows into the company's exchange-traded funds (EFTs).

BlackRock Inc., the world's leading asset manager, has announced its assets under management (AUM) rose to record highs of $10.65 trillion in the second quarter, helped by rising asset values in client portfolios and large inflows into the company's exchange-traded funds (EFTs). Market conditions and AI stocks boost AUM Just recently, the stock market has hit a record high, fueled by optimism about a soft landing for the US economy, and the interest in artificial intelligence-linked shares—the S&P 500 index that bounced around 4 per cent in the latest reported quarter—further helps BlackRock's AUM rise above $9.43 trillion a year earlier and $10.5 trillion in the first quarter. Growth opportunities in acquisitions and strategy BlackRock announced that it will be making two major acquisitions in the last half of the year, strengthening its footing in areas of infrastructure investment and private markets. "We see unbelievable growth opportunities for our clients and shareholders for 2024 and beyond," said Larry Fink during a conference call; he is the chairman and CEO of BlackRock. He highlighted the potential for investments in the energy transition and AI data centres. In the latest development, BlackRock signed an agreement with private markets data power Preqin for the purchase of almost $3.2 billion. The acquisition has taken place on the heels of a $12.5 billion deal through the takeover of Global Infrastructure Partners that has placed the company in a leading position for projects under global infrastructure investment. The deals would be finalised in closing in the current year. Changing gear to high-margin products Kyle Sanders, senior equity research analyst at Edward Jones, said the move was all about shifting to more lucrative product lines. "There's been more movement on the institutional side because they want to move into higher-margin, higher-fee products, and alternatives would be at the top of the list," he said. He added the recent private markets expansion was "ridiculously high fees compared to an iShares ETF." Record ETF inflows and revenue growth BlackRock's total net inflows for the quarter amounted to $81.57 billion, slightly topping last year's $80.16 billion, which was enormous for ETFs, pulling in $83 billion in the best start to a year on record. Investment Advisory and Administration fees generally form in percentage terms of the AUM and clocked at $3.72 billion went up by 8.6 per cent. Revenue from technology services rose 10 per cent and reached $395 million, driven by the persistent demand for the firm's investment risk management platform Aladdin. The average rising revenue for the firm was 8 per cent and reached $4.81 billion. Profit net climbed further in the same track and rose to $1.50 billion, or $9.99 per share, from $1.37 billion, or $9.06 per share from the previous year. Stock performance While the earnings report looks sound, BlackRock shares have still been retreating little by little. Since the start of the year, the stock has risen by 2 per cent, while the S&P 500 has advanced by 17.7 per cent. (With inputs from Reuters)

BlackRock's AUM hits record $10.65 trillion amid market rally and ETF inflows

Germany finished this week its bid to divest billions of dollars of seized assets from its criminals as it sold and transferred its final batch from the Bitcoin wallets. According to new data from blockchain analytics firm Arkham Intelligence, the wallets currently have zero digital assets.

Within the past month, the wallet transfer by the German government had caused fear among most cryptocurrency community members, as it was believed that with large sell-offs, the price of Bitcoin would nosedive. Contrary to those assumptions, it rose 3 per cent. One BTC was above $58,000, up 1 per cent in the last 24 hours.

The government of Germany held nearly $3.4 billion worth of bitcoins in its wallets early this June. Well, these seized assets have been aggressively liquidated by the Federal Criminal Police Office of Germany, better known by its acronym in German as the Bundeskriminalamt, or BKA. Earlier this month, it offloaded $2.8 billion in bitcoin—equivalent to 50,000 bitcoins.

In particular, the government transferred funds to major crypto exchanges in the United States and Europe, including Coinbase, Bitstamp, and Kraken.

Some of the market observers have been obsessively following the transfers between the wallets and were quick to observe that some of the amounts were transferred back to the government's wallet addresses, signalling that BKA was essentially testing the liquidity before finally offloading assets.

On Thursday, the crypto market "Fear and Greed" index plunged to as low as "extreme fear" over government transfers. These nerves, though, were also quickly dashed immediately after the selling was over.&nbsp;

“One of the best metrics for identifying optimal entry points in a bull market is when short-term bitcoin holders sell at a loss and the fear index is ridiculously high (which has been happening in recent weeks),” noted a CryptoQuant analyst. “In contrast, previous market peaks have been signalled by long-term holders taking significant profits over numerous months, which hasn’t happened yet.”

The successful selloff of the government in Berlin of such volumes of bitcoin reinforces the fact that the cryptocurrency market is indeed robust and thus justifies the importance of strategic asset management. Continued increase in price, despite early scepticism of the investors, has been attributed to how market trust has never plummeted.

Germany finished this week its bid to divest billions of dollars of seized assets from its criminals as it sold and transferred its final batch from the Bitcoin wallets.

Germany finished this week its bid to divest billions of dollars of seized assets from its criminals as it sold and transferred its final batch from the Bitcoin wallets. According to new data from blockchain analytics firm Arkham Intelligence, the wallets currently have zero digital assets. Within the past month, the wallet transfer by the German government had caused fear among most cryptocurrency community members, as it was believed that with large sell-offs, the price of Bitcoin would nosedive. Contrary to those assumptions, it rose 3 per cent. One BTC was above $58,000, up 1 per cent in the last 24 hours. The government of Germany held nearly $3.4 billion worth of bitcoins in its wallets early this June. Well, these seized assets have been aggressively liquidated by the Federal Criminal Police Office of Germany, better known by its acronym in German as the Bundeskriminalamt, or BKA. Earlier this month, it offloaded $2.8 billion in bitcoin—equivalent to 50,000 bitcoins. In particular, the government transferred funds to major crypto exchanges in the United States and Europe, including Coinbase, Bitstamp, and Kraken. Some of the market observers have been obsessively following the transfers between the wallets and were quick to observe that some of the amounts were transferred back to the government's wallet addresses, signalling that BKA was essentially testing the liquidity before finally offloading assets. On Thursday, the crypto market "Fear and Greed" index plunged to as low as "extreme fear" over government transfers. These nerves, though, were also quickly dashed immediately after the selling was over. “One of the best metrics for identifying optimal entry points in a bull market is when short-term bitcoin holders sell at a loss and the fear index is ridiculously high (which has been happening in recent weeks),” noted a CryptoQuant analyst. “In contrast, previous market peaks have been signalled by long-term holders taking significant profits over numerous months, which hasn’t happened yet.” The successful selloff of the government in Berlin of such volumes of bitcoin reinforces the fact that the cryptocurrency market is indeed robust and thus justifies the importance of strategic asset management. Continued increase in price, despite early scepticism of the investors, has been attributed to how market trust has never plummeted.

Germany’s Bitcoin fire sell-off ignites Crypto resilience defying market fears

Bitcoin tumbled to a four-month low on Friday, heading for its worst weekly performance in a year, with its decline driven by uncertainties surrounding Joe Biden's potential continuation as the Democrats' US presidential candidate and concerns over possible increases in crypto supply.

Prices for Bitcoin fell by 5 per cent to as low as $55,366, the lowest since the end of February, and recorded a 10 per cent loss for the week. Ether also slid by 8 per cent to $2,891, marking its lowest level in a month and a half.

Bitcoin was on a strong run in the first quarter after reaching an all-time high of $73,803.25 in mid-March when the first US exchange-traded fund was launched. From that all-time high, it has lost more than 21 per cent of its value.

Market players are now concerned that &nbsp;Biden could be replaced with a more anti-crypto advocate as far as the Democratic Party's presidential nominee; after a dismal performance in the first debate compared to Trump.

To pile on the problems, market observers pointed out reports that Mt. Gox, the former leading cryptocurrency exchange until it went defunct in 2014, is currently repaying its creditors. This is fuelling the likelihood of Bitcoin possibly coming under more downward pressure in the case that such creditors should decide to divest such coins.

This has been a factor in the fall of Bitcoin because investors are nervous about political risk, coupled with the possibility of too much supply in the market.

Bitcoin tumbled to a four-month low on Friday, heading for its worst weekly performance in a year, with its decline driven by uncertainties surrounding Joe Biden's potential continuation as the Democrats' US presidential candidate and concerns over possible increases in crypto supply.

Bitcoin tumbled to a four-month low on Friday, heading for its worst weekly performance in a year, with its decline driven by uncertainties surrounding Joe Biden's potential continuation as the Democrats' US presidential candidate and concerns over possible increases in crypto supply. Prices for Bitcoin fell by 5 per cent to as low as $55,366, the lowest since the end of February, and recorded a 10 per cent loss for the week. Ether also slid by 8 per cent to $2,891, marking its lowest level in a month and a half. Bitcoin was on a strong run in the first quarter after reaching an all-time high of $73,803.25 in mid-March when the first US exchange-traded fund was launched. From that all-time high, it has lost more than 21 per cent of its value. Market players are now concerned that Biden could be replaced with a more anti-crypto advocate as far as the Democratic Party's presidential nominee; after a dismal performance in the first debate compared to Trump. To pile on the problems, market observers pointed out reports that Mt. Gox, the former leading cryptocurrency exchange until it went defunct in 2014, is currently repaying its creditors. This is fuelling the likelihood of Bitcoin possibly coming under more downward pressure in the case that such creditors should decide to divest such coins. This has been a factor in the fall of Bitcoin because investors are nervous about political risk, coupled with the possibility of too much supply in the market.

Bitcoin's plunge: political uncertainty and supply fears shake the market

Collapsed bitcoin exchange Mt. Gox is set to release approximately 9 billion dollars worth of bitcoin to thousands of users. That comes nearly a decade after the platform was brought down by a series of hacks that led to the loss of up to 950,000 bitcoins.

Mt. Gox to release $9 bn in bitcoin soon

Julian Assange: hero for open and transparent government, or a villain who risked US National security?

What did Julian Assange do?

Bitcoin has a big role to play in the financial journey of WikiLeaks and its controversial founder, Julian Assange. From being blacklisted by major payment processors to amassing $244 million in bitcoin donations, WikiLeaks has leveraged the power of cryptocurrency to fund its mission.

Gravitas | How Bitcoin donations fund WikiLeaks defence

We turn our attention to the rising bets in favour of spot-crypto funds globally. An exchange-traded fund investing in bitcoin made its debut on Australia's primary stock market this week, joining a slew of comparable launches in the US and Hong Kong this year.

Bitcoin funds making waves globally

The VanEck Bitcoin Exchange-Traded Fund (ETF) made its historic debut on Thursday (June 20) on Australia's primary stock exchange, fulfilling investor demand for cryptocurrency exposure in the wake of a rebound in market interest.<o:p></o:p>

<h2 class="MsoNormal">Fund launch and structure<o:p></o:p></h2>

On the Australian Securities Exchange (ASX), the VanEck Bitcoin ETF made its debut with assets of about A$990,000 ($660,429). This exchange-traded fund (ETF) will invest in the U.S.-listed VanEck Bitcoin Trust, which debuted earlier this year, as opposed to conventional ETFs that hold tangible assets. Through this method, Australian investors can obtain Bitcoin indirectly without really possessing the cryptocurrency.<o:p></o:p>

<h2 class="MsoNormal">Global context and market response<o:p></o:p></h2>

Ever since US regulators approved several comparable products in January, which resulted in large capital inflows, interest in bitcoin exchange-traded funds (ETFs) has increased globally. With the launch of its own ETF in April, Hong Kong followed following, albeit with less enthusiasm from the market than the US trend.<o:p></o:p>

<h2 class="MsoNormal">Bitcoin market performance and investor sentiment<o:p></o:p></h2>

Coin values have nearly tripled since 2023, but after peaking in March, they have stabilised recently. The debut coincides with this optimistic trend. Investor interest in gaining exposure to digital assets through regulated investment vehicles has increased because of the market's performance.<o:p></o:p>

<h2 class="MsoNormal">Competitive Landscape and Outlook<o:p></o:p></h2>

Although VanEck's debut on the ASX is historic, some bitcoin ETFs are currently available on a rival exchange run by CBOE Global Markets' local affiliate. But the VanEck Bitcoin ETF is the first to launch on the main ASX market, making its ticker board debut among well-known Australian companies like BHP and Commonwealth Bank.<o:p></o:p>

(With inputs from Agencies)<o:p></o:p>

The VanEck Bitcoin Exchange-Traded Fund (ETF) made its historic debut on Thursday (June 20) on Australia's primary stock exchange, fulfilling investor demand for cryptocurrency exposure in the wake of a rebound in market interest.

The VanEck Bitcoin Exchange-Traded Fund (ETF) made its historic debut on Thursday (June 20) on Australia's primary stock exchange, fulfilling investor demand for cryptocurrency exposure in the wake of a rebound in market interest. Fund launch and structure On the Australian Securities Exchange (ASX), the VanEck Bitcoin ETF made its debut with assets of about A$990,000 ($660,429). This exchange-traded fund (ETF) will invest in the U.S.-listed VanEck Bitcoin Trust, which debuted earlier this year, as opposed to conventional ETFs that hold tangible assets. Through this method, Australian investors can obtain Bitcoin indirectly without really possessing the cryptocurrency. Global context and market response Ever since US regulators approved several comparable products in January, which resulted in large capital inflows, interest in bitcoin exchange-traded funds (ETFs) has increased globally. With the launch of its own ETF in April, Hong Kong followed following, albeit with less enthusiasm from the market than the US trend. Bitcoin market performance and investor sentiment Coin values have nearly tripled since 2023, but after peaking in March, they have stabilised recently. The debut coincides with this optimistic trend. Investor interest in gaining exposure to digital assets through regulated investment vehicles has increased because of the market's performance. Competitive Landscape and Outlook Although VanEck's debut on the ASX is historic, some bitcoin ETFs are currently available on a rival exchange run by CBOE Global Markets' local affiliate. But the VanEck Bitcoin ETF is the first to launch on the main ASX market, making its ticker board debut among well-known Australian companies like BHP and Commonwealth Bank. (With inputs from Agencies)

VanEck launches first bitcoin ETF on Australian Stock Exchange amid crypto resurgence

Ether, the world's second-largest cryptocurrency, is experiencing its biggest two-day surge in nearly two years, fueled by optimism over potential approval of spot exchange-traded funds by the sec. Meanwhile, bitcoin is also on the rise, nearing its march peak, as investors react to the latest regulatory developments.

Ether climbs over 8%, nearing $3,780 amid ETF optimism

Hong Kong marked a milestone in its ambition to become a regional hub for virtual asset investment as it commenced trading Asia's inaugural spot bitcoin and ether exchange-traded funds (ETFs) on Tuesday. <o:p></o:p>

This move follows the US, which paved the way for mainstream investors to incorporate Bitcoin into their portfolios through ETFs pegged to the cryptocurrency's spot price. <o:p></o:p>

Hong Kong's bourse saw the introduction of six funds by three managers—Bosera Funds, China Asset Management (Hong Kong) Limited, and Harvest Global Investments—each issuing spot bitcoin and ether ETFs tradable in both Hong Kong and US dollars. <o:p></o:p>

ChinaAMC (HK) additionally enabled trading in Chinese yuan, expanding the accessibility of digital assets to investors. <o:p></o:p>

In the early hours of trading, the new ETFs showed promising performance, with price increases ranging from 0.62 per cent to 3.81 per cent, highlighting investor interest and confidence in the emerging asset class. <o:p></o:p>

Despite predictions that these funds may not attract inflows comparable to their US counterparts, industry experts remain optimistic about their potential to catalyse broader adoption of digital assets globally. <o:p></o:p>

The inclusion of bitcoin and ether ETFs in Hong Kong's financial ecosystem comes with the city's efforts to position itself competitively against established financial centres like the US, leveraging its unique advantages such as in-kind trading.<o:p></o:p>

Unlike traditional ETFs, which primarily transact in fiat currencies like the US dollar, Hong Kong's approach allows investors to conduct in-kind creation and redemption through eligible dealers, facilitating direct investment using bitcoin and ether. <o:p></o:p>

Han Tongli, CEO of Harvest Global, highlighted this distinct advantage over the US market, positioning Hong Kong as a major contender in the international financial arena. <o:p></o:p>

Tongli acknowledged the city's role in fostering innovation and development, defending its status as a premier global financial hub. <o:p></o:p>

Moreover, Hong Kong's regulatory flexibility presents an opportunity for China to explore virtual asset trading, a sector currently prohibited on the mainland.<o:p></o:p>

While demand for bitcoin ETFs in the US has moderated following an initial surge in February, Hong Kong's foray into digital asset investment signifies a wider trend towards embracing cryptocurrencies and blockchain technology. <o:p></o:p>

With regulatory bodies like the Securities and Futures Commission showing their readiness to facilitate retail investment in digital asset funds, Hong Kong is set to attract further interest from fund managers seeking to capitalise on the developing&nbsp;market.<o:p></o:p>

(With inputs from AFP)<o:p></o:p>

Hong Kong marked a milestone in its ambition to become a regional hub for virtual asset investment as it commenced trading Asia's inaugural spot bitcoin and ether exchange-traded funds (ETFs) on Tuesday.

Hong Kong marked a milestone in its ambition to become a regional hub for virtual asset investment as it commenced trading Asia's inaugural spot bitcoin and ether exchange-traded funds (ETFs) on Tuesday. This move follows the US, which paved the way for mainstream investors to incorporate Bitcoin into their portfolios through ETFs pegged to the cryptocurrency's spot price. Hong Kong's bourse saw the introduction of six funds by three managers—Bosera Funds, China Asset Management (Hong Kong) Limited, and Harvest Global Investments—each issuing spot bitcoin and ether ETFs tradable in both Hong Kong and US dollars. ChinaAMC (HK) additionally enabled trading in Chinese yuan, expanding the accessibility of digital assets to investors. In the early hours of trading, the new ETFs showed promising performance, with price increases ranging from 0.62 per cent to 3.81 per cent, highlighting investor interest and confidence in the emerging asset class. Despite predictions that these funds may not attract inflows comparable to their US counterparts, industry experts remain optimistic about their potential to catalyse broader adoption of digital assets globally. The inclusion of bitcoin and ether ETFs in Hong Kong's financial ecosystem comes with the city's efforts to position itself competitively against established financial centres like the US, leveraging its unique advantages such as in-kind trading. Unlike traditional ETFs, which primarily transact in fiat currencies like the US dollar, Hong Kong's approach allows investors to conduct in-kind creation and redemption through eligible dealers, facilitating direct investment using bitcoin and ether. Han Tongli, CEO of Harvest Global, highlighted this distinct advantage over the US market, positioning Hong Kong as a major contender in the international financial arena. Tongli acknowledged the city's role in fostering innovation and development, defending its status as a premier global financial hub. Moreover, Hong Kong's regulatory flexibility presents an opportunity for China to explore virtual asset trading, a sector currently prohibited on the mainland. While demand for bitcoin ETFs in the US has moderated following an initial surge in February, Hong Kong's foray into digital asset investment signifies a wider trend towards embracing cryptocurrencies and blockchain technology. With regulatory bodies like the Securities and Futures Commission showing their readiness to facilitate retail investment in digital asset funds, Hong Kong is set to attract further interest from fund managers seeking to capitalise on the developing market. (With inputs from AFP)

Hong Kong launches Asia's 1st Bitcoin, Ether ETFs, pioneering virtual asset investment

Investors are sending mixed signals about the future of the US economy. On one hand, the price of gold and bitcoin are soaring, reaching record highs. On the other hand, the treasury market remains remarkably calm, with bond yields staying low. We'll delve into these seemingly contradictory trends and what they might mean for the US fiscal future.

US debt sparks gold & Bitcoin rally

The crypto community worldwide is dealing with this billion-dollar question: Who created bitcoin and the 2008 white paper that launched the blockchain-based cryptocurrency? For years, people attributed the creation of this revolutionary currency to a mythical figure known as ‘Satoshi Nakamoto.’ It is believed that Satoshi Nakamoto published the white paper in 2008, exchanged some emails with the currency’s first adherents and then disappeared in 2011.

Satoshi Nakamoto is shrouded in such a mystery that some even doubt the existence of any such person.

However, the debate around the real owner of bitcoin turned intense in 2016 when Australian techie, Craig Wright, asserted that he is the progenitor of the highly-valued cryptocurrency. Additionally, he accused the crypto developer community of “misusing his creation” and converting it into an expensively traded commodity while the original idea was to make it like digital cash for small, everyday transactions.

However,&nbsp;Wright who claims he invented bitcoin is not "Satoshi Nakamoto", the pseudonymous inventor of the cryptocurrency, a judge at London's High Court ruled on Thursday.

Judge James Mellor said at the end of closing arguments on Thursday that the evidence Wright was not Satoshi was "overwhelming".

"Dr Wright is not the author of the Bitcoin white paper," Mellor said. "Dr Wright is not the person who adopted or operated under the pseudonym Satoshi Nakamoto in the period 2008 to 2011."

<h2>Opposition from the Cryptocurrency Open Patent Alliance</h2>

While the 53-year-old Australian techie has fought a number of legal clashes over the past eight years, the recent one features the Crypto Open Patent Alliance (COPA), which vehemently opposes Wright’s claims and dismisses them as “brazen lie.”

It asked the high court in London for a ruling, or “negative declaration”, that Wright is not Nakamoto. COPA is no ordinary organisation, with ex-Twitter owner Jack Dorsey and the cryptocurrency exchange giant Coinbase as its main backers.

The trial, which started on Monday (Feb 5), is expected to last a month and is being heard at the high court’s business and property courts of England and Wales.

COPA’s barrister, Jonathan Hough, said on the first day of the trial, “Our case is that Dr Wright’s claim to be Satoshi Nakamoto is a brazen lie, an elaborate false narrative supported by forgery on an industrial scale.”

Hough also claimed that the documents that Wright presented to prove himself as Satoshi were fake and contradictory.

<h2>Claims by COPA against Craig Wright</h2>

In a court filing, COPA alleged that the copy of the 2008 “white paper”, which is the foundation text of bitcoin, presented by Wright is written in a different format from the original document. COPA maintains while Wright’s copy is written using LaTeX, the original copy was written using OpenOffice.

COPA further added that the file presented by Craig Wright leads to a pdf “which only superficially resembles the bitcoin white paper but which is in fact substantially different”.

COPA also alleged, using metadata information from the file itself, that it was created on 19 November 2023 as a blank document. COPA even added that one document disclosed by Wright appeared to have been written by ChatGPT.

<h2>Counterarguments by Craig Wright</h2>

Craig Wright argues that some of the apparent inconsistencies in his documentary evidence are caused by back-dated edits, technical glitches, logistical or legal snafus, or unauthorised tampering.

Wright also questioned the credibility of the independent experts who pointed out flaws in his documents. “I have done over 20 masters degrees now,” Wright is said to have boasted in the courtroom. However, the court ruled that it was open to relying on opinions given by an independent expert.

<h2>COPA rejects Wright’s settlement offer</h2>

Last month, Wright reportedly offered to settle the case, a move rejected by COPA. The offer included the involved parties to make a donation to a church in Australia and a mandate for his critics in the developer community to cease “any media campaign(s) against me”.

The offer also required unnamed entities to cease to claim that they represent the original bitcoin “as envisioned by me as Satoshi Nakamoto”.

“I believe the settlement terms are broadly uncontroversial, beneficial to the industry as a whole, and intended to draw a fresh start in the history of bitcoin to guarantee its success in whatever form it takes,” Wright reportedly wrote&nbsp;in his settlement offer.

Watch:&nbsp;Who is Satoshi Nakamoto? UK court to decide on Bitcoin founder’s identity

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However, COPA said the offer carried several loopholes that Wright could still use in his favour to issue threats against the developer community.

<h2>Where are bitcoin’s private keys?</h2>

Despite claiming himself to be the original creator of bitcoin, Wright has so far failed to provide the private keys – a secure code comprising a hexadecimal string of numbers and letters – that would unlock access to the 1.1m original bitcoins “mined” by Nakamoto that are worth about $46bn at the current price.

Wright claims that he had destroyed the computer hard drive which would have given him access to the keys.

Also read:&nbsp;<a data-jsarwt="1" data-usg="AOvVaw2kpm4_wgPHMijoR8qCK5PR" data-ved="2ahUKEwj4-53j4p6EAxXUTWwGHXKqATIQxfQBKAB6BAgQEAE" href="https://www.wionews.com/world/who-is-satoshi-nakamoto-war-begins-in-the-uk-court-to-decide-on-bitcoin-founders-identity-687233" jsname="YKoRaf">Who is Satoshi Nakamoto? `War` begins in the UK court to decide on Bitcoin founder’s identity</a>

As the court case drags on, the crypto community is making interpretations of the proceedings back and forth. The case has generated so much interest that the court has even allowed people to log in and watch it remotely.

&nbsp;Meanwhile, a spokesperson of Wright said the trial was “really a war.”

“Think of it as a modern-day tech battle, akin to that between Blu-ray and HD DVD or, for even older readers, Betamax versus VHS,” he added.

(With inputs from agencies)

The crypto community worldwide is dealing with this billion-dollar question: Who created bitcoin and the 2008 white paper that launched the blockchain-based cryptocurrency?

The crypto community worldwide is dealing with this billion-dollar question: Who created bitcoin and the 2008 white paper that launched the blockchain-based cryptocurrency? For years, people attributed the creation of this revolutionary currency to a mythical figure known as ‘Satoshi Nakamoto.’ It is believed that Satoshi Nakamoto published the white paper in 2008, exchanged some emails with the currency’s first adherents and then disappeared in 2011. Satoshi Nakamoto is shrouded in such a mystery that some even doubt the existence of any such person. However, the debate around the real owner of bitcoin turned intense in 2016 when Australian techie, Craig Wright, asserted that he is the progenitor of the highly-valued cryptocurrency. Additionally, he accused the crypto developer community of “misusing his creation” and converting it into an expensively traded commodity while the original idea was to make it like digital cash for small, everyday transactions. However, Wright who claims he invented bitcoin is not "Satoshi Nakamoto", the pseudonymous inventor of the cryptocurrency, a judge at London's High Court ruled on Thursday. Judge James Mellor said at the end of closing arguments on Thursday that the evidence Wright was not Satoshi was "overwhelming". "Dr Wright is not the author of the Bitcoin white paper," Mellor said. "Dr Wright is not the person who adopted or operated under the pseudonym Satoshi Nakamoto in the period 2008 to 2011." Opposition from the Cryptocurrency Open Patent Alliance While the 53-year-old Australian techie has fought a number of legal clashes over the past eight years, the recent one features the Crypto Open Patent Alliance (COPA), which vehemently opposes Wright’s claims and dismisses them as “brazen lie.” It asked the high court in London for a ruling, or “negative declaration”, that Wright is not Nakamoto. COPA is no ordinary organisation, with ex-Twitter owner Jack Dorsey and the cryptocurrency exchange giant Coinbase as its main backers. The trial, which started on Monday (Feb 5), is expected to last a month and is being heard at the high court’s business and property courts of England and Wales. COPA’s barrister, Jonathan Hough, said on the first day of the trial, “Our case is that Dr Wright’s claim to be Satoshi Nakamoto is a brazen lie, an elaborate false narrative supported by forgery on an industrial scale.” Hough also claimed that the documents that Wright presented to prove himself as Satoshi were fake and contradictory. Claims by COPA against Craig Wright In a court filing, COPA alleged that the copy of the 2008 “white paper”, which is the foundation text of bitcoin, presented by Wright is written in a different format from the original document. COPA maintains while Wright’s copy is written using LaTeX, the original copy was written using OpenOffice. COPA further added that the file presented by Craig Wright leads to a pdf “which only superficially resembles the bitcoin white paper but which is in fact substantially different”. COPA also alleged, using metadata information from the file itself, that it was created on 19 November 2023 as a blank document. COPA even added that one document disclosed by Wright appeared to have been written by ChatGPT. Counterarguments by Craig Wright Craig Wright argues that some of the apparent inconsistencies in his documentary evidence are caused by back-dated edits, technical glitches, logistical or legal snafus, or unauthorised tampering. Wright also questioned the credibility of the independent experts who pointed out flaws in his documents. “I have done over 20 masters degrees now,” Wright is said to have boasted in the courtroom. However, the court ruled that it was open to relying on opinions given by an independent expert. COPA rejects Wright’s settlement offer Last month, Wright reportedly offered to settle the case, a move rejected by COPA. The offer included the involved parties to make a donation to a church in Australia and a mandate for his critics in the developer community to cease “any media campaign(s) against me”. The offer also required unnamed entities to cease to claim that they represent the original bitcoin “as envisioned by me as Satoshi Nakamoto”. “I believe the settlement terms are broadly uncontroversial, beneficial to the industry as a whole, and intended to draw a fresh start in the history of bitcoin to guarantee its success in whatever form it takes,” Wright reportedly wrote in his settlement offer. Watch: Who is Satoshi Nakamoto? UK court to decide on Bitcoin founder’s identity × However, COPA said the offer carried several loopholes that Wright could still use in his favour to issue threats against the developer community. Where are bitcoin’s private keys? Despite claiming himself to be the original creator of bitcoin, Wright has so far failed to provide the private keys – a secure code comprising a hexadecimal string of numbers and letters – that would unlock access to the 1.1m original bitcoins “mined” by Nakamoto that are worth about $46bn at the current price. Wright claims that he had destroyed the computer hard drive which would have given him access to the keys. Also read: Who is Satoshi Nakamoto? `War` begins in the UK court to decide on Bitcoin founder’s identity As the court case drags on, the crypto community is making interpretations of the proceedings back and forth. The case has generated so much interest that the court has even allowed people to log in and watch it remotely. Meanwhile, a spokesperson of Wright said the trial was “really a war.” “Think of it as a modern-day tech battle, akin to that between Blu-ray and HD DVD or, for even older readers, Betamax versus VHS,” he added. (With inputs from agencies)

Explained: Is Craig Wright the original Satoshi Nakamoto? The mystery of bitcoin inventor reaches UK court

El Salvador will transfer "a big chunk" of its bitcoin assets to an offline device that will be stored in a physical vault within the Central American country's territory, President Nayib Bukele said on Thursday (March 14).

"We've decided to transfer a big chunk of our Bitcoin to a cold wallet, and store that cold wallet in a physical vault within our national territory," Bukele, who last month was re-elected to a second term as president, said in a post on X. "It's not much, but it's honest work."

According to Bukele's social media account on Thursday, El Salvador's bitcoin portfolio is at close to $407 million.

The true size of the holdings remains unclear, but a recent rally in bitcoin values has reignited interest in the world's largest, if volatile, cryptocurrency.

Bitcoin on Thursday hit a record high of $73,800.

In September 2021, El Salvador became the first country in the world to establish bitcoin as legal tender, earning it harsh criticism. One of the strongest critics was the International Monetary Fund, which has been negotiating a large loan with the cash-poor country.

Bukele has also sketched plans for a tax-free crypto haven powered by geothermal energy from a volcano. As he prepares to enter his second term as president, ground has yet to be broken on this so-called Bitcoin City.

El Salvador will transfer "a big chunk" of its bitcoin assets to an offline device that will be stored in a physical vault within the Central American country's territory, President Nayib Bukele said on Thursday (March 14).

El Salvador will transfer "a big chunk" of its bitcoin assets to an offline device that will be stored in a physical vault within the Central American country's territory, President Nayib Bukele said on Thursday (March 14). "We've decided to transfer a big chunk of our Bitcoin to a cold wallet, and store that cold wallet in a physical vault within our national territory," Bukele, who last month was re-elected to a second term as president, said in a post on X. "It's not much, but it's honest work." According to Bukele's social media account on Thursday, El Salvador's bitcoin portfolio is at close to $407 million. The true size of the holdings remains unclear, but a recent rally in bitcoin values has reignited interest in the world's largest, if volatile, cryptocurrency. Bitcoin on Thursday hit a record high of $73,800. In September 2021, El Salvador became the first country in the world to establish bitcoin as legal tender, earning it harsh criticism. One of the strongest critics was the International Monetary Fund, which has been negotiating a large loan with the cash-poor country. Bukele has also sketched plans for a tax-free crypto haven powered by geothermal energy from a volcano. As he prepares to enter his second term as president, ground has yet to be broken on this so-called Bitcoin City.

El Salvador to transfer 'big chunk' of bitcoin to physical vault

A UK court ruled on Thursday (March 14) that Australian computer scientist Craig Wright is not "Satoshi Nakamoto", the pseudonym used by the creator of the cryptocurrency bitcoin when it was first unveiled in 2008.

"Dr Wright is not the person who adopted or operated under the pseudonym Satoshi Nakamoto... Dr Wright is not the person who created the Bitcoin system," High Court judge James Mellor said, calling the evidence "overwhelming".

It may be noted that over the years, Craig Wright has claimed that he's the mysterious Satoshi Nakamoto, the pseudonym used by the author of the 2008 white paper behind Bitcoin.&nbsp;

However, he has failed to back his claims and people in the crypto world were not buying it.&nbsp;

A group called the Crypto Open Patent Alliance (Copa), with support from Jack Dorsey's company Block and Coinbase, took Wright to court. They wanted the judge to say that Wright is not Nakamoto officially.

Wright's claims and the widespread scepticism around them have led to several legal clashes.

Also read |&nbsp;<a href="https://www.wionews.com/business-economy/bitcoin-plummets-to-40000-hits-lowest-point-since-etf-debut-682753">Bitcoin plummets to $40,000, hits lowest point since ETF debut</a>

<h2>Who is Nakamoto?</h2>

Bitcoin's creator, mythically known as Nakamoto, published a paper in 2008 that became the basis for the cryptocurrency. Nakamoto interacted with the first Bitcoin users but vanished in 2011. Since then, people have been guessing who Nakamoto is. Wright came forward in 2016, but he hasn't been able to prove it because he hasn't shown the private keys needed to access the original bitcoins Nakamoto mined.&nbsp;

(With inputs from agencies)

A UK court ruled on Thursday (March 14) that Australian computer scientist Craig Wright is not "Satoshi Nakamoto", the pseudonym used by the creator of the cryptocurrency bitcoin when it was first unveiled in 2008.

A UK court ruled on Thursday (March 14) that Australian computer scientist Craig Wright is not "Satoshi Nakamoto", the pseudonym used by the creator of the cryptocurrency bitcoin when it was first unveiled in 2008. "Dr Wright is not the person who adopted or operated under the pseudonym Satoshi Nakamoto... Dr Wright is not the person who created the Bitcoin system," High Court judge James Mellor said, calling the evidence "overwhelming". It may be noted that over the years, Craig Wright has claimed that he's the mysterious Satoshi Nakamoto, the pseudonym used by the author of the 2008 white paper behind Bitcoin. However, he has failed to back his claims and people in the crypto world were not buying it. A group called the Crypto Open Patent Alliance (Copa), with support from Jack Dorsey's company Block and Coinbase, took Wright to court. They wanted the judge to say that Wright is not Nakamoto officially. Wright's claims and the widespread scepticism around them have led to several legal clashes. Also read | Bitcoin plummets to $40,000, hits lowest point since ETF debut Who is Nakamoto? Bitcoin's creator, mythically known as Nakamoto, published a paper in 2008 that became the basis for the cryptocurrency. Nakamoto interacted with the first Bitcoin users but vanished in 2011. Since then, people have been guessing who Nakamoto is. Wright came forward in 2016, but he hasn't been able to prove it because he hasn't shown the private keys needed to access the original bitcoins Nakamoto mined. (With inputs from agencies)

Computer scientist Craig Wright is not the inventor of Bitcoin, UK judge rules

Bitcoin just hit a record high, but can it reach $100,000? The upcoming halving in april cuts miner rewards, impacting supply and potentially price. Know more about halving, the miner race, and the risks involved. Bullish or Bearish? Join us as WION Decodes.

Bitcoin is at record high, but will halving halt the wild run | WION Decodes

Bitcoin has reached an all-time high above $72,000 on Monday, continuing its upward trajectory as demand for the leading cryptocurrency shows no signs of declining, according to sources from Reuters. <o:p></o:p>

Bitcoin's latest surge, which peaked at $72,739, was accompanied by a 4.4 per cent increase, with the cryptocurrency currently valued at $72,649. <o:p></o:p>

The surge has been attributed to a huge influx of capital into new spot bitcoin exchange-traded funds and optimistic expectations of a potential interest rate cut by the Federal Reserve.<o:p></o:p>

"The recent surge in Bitcoin's value...underscores the remarkable strength and resilience of the leading cryptocurrency. This achievement not only marks a significant milestone but also reflects the continued confidence and demand in the market" Reuters quoted Bitfinex analysts as saying.<o:p></o:p>

DailyFX strategist Nick Cawley noted, "Bitcoin has started the week with a surge, dragging the rest of the cryptocurrency space higher with it." <o:p></o:p>

Flows of capital into the top 10 US spot bitcoin exchange-traded funds reached nearly $2 billion, despite slowing to a two-week low in the week leading up to March 8.<o:p></o:p>

As Bitcoin continues its ascent, experts highlight the upcoming "halving" event in April, which will tighten the supply of bitcoin. <o:p></o:p>

This event occurs every four years, reducing the rate at which new supply enters circulation and diminishing the reward for crypto miners. <o:p></o:p>

Such halving events historically provide support to the cryptocurrency's price. <o:p></o:p>

Despite the recent surge, the unpredictable nature of Bitcoin's price trajectory remains a challenge, with the cryptocurrency having less than two decades as a financial asset.<o:p></o:p>

The Financial Conduct Authority (FCA) in the UK has joined the list of regulators allowing digital asset trading products. <o:p></o:p>

The FCA announced its approval for recognised investment exchanges to launch crypto-backed exchange-traded notes (ETNs), cautioning that these products should be restricted to professional investors. <o:p></o:p>

The FCA expressed concerns about the potential harm to retail investors from crypto ETNs, while acknowledging the growing demand within the investment community for such products.<o:p></o:p>

Data from the US Commodity Futures Trading Commission reveals that asset managers now hold the largest bullish position in bitcoin futures on record. <o:p></o:p>

The net long position held by asset managers, often considered indicative of institutional investors' holdings such as mutual funds and pension funds, rose to 15,531 lots, valued at $5.5 billion based on the current bitcoin price. <o:p></o:p>

Meanwhile, the cryptocurrency Ether experienced a 3.97 per cent rise, reaching $4,062.07, driven by speculation that US regulators may approve spot ether ETF listings this year, resulting in a 75 per cent increase in its value in 2024.<o:p></o:p>

Additionally, for crypto stocks, Coinbase's shares rose by 2.8 per cent, while crypto miners Riot Platforms and Marathon Digital saw declines of 2.2 per cent and 6.1 per cent, respectively.<o:p></o:p>

(With inputs from Reuters)<o:p></o:p>

Bitcoin has reached an all-time high above $72,000 on Monday, continuing its upward trajectory as demand for the leading cryptocurrency shows no signs of declining, according to sources from Reuters.

Bitcoin has reached an all-time high above $72,000 on Monday, continuing its upward trajectory as demand for the leading cryptocurrency shows no signs of declining, according to sources from Reuters. Bitcoin's latest surge, which peaked at $72,739, was accompanied by a 4.4 per cent increase, with the cryptocurrency currently valued at $72,649. The surge has been attributed to a huge influx of capital into new spot bitcoin exchange-traded funds and optimistic expectations of a potential interest rate cut by the Federal Reserve. "The recent surge in Bitcoin's value...underscores the remarkable strength and resilience of the leading cryptocurrency. This achievement not only marks a significant milestone but also reflects the continued confidence and demand in the market" Reuters quoted Bitfinex analysts as saying. DailyFX strategist Nick Cawley noted, "Bitcoin has started the week with a surge, dragging the rest of the cryptocurrency space higher with it." Flows of capital into the top 10 US spot bitcoin exchange-traded funds reached nearly $2 billion, despite slowing to a two-week low in the week leading up to March 8. As Bitcoin continues its ascent, experts highlight the upcoming "halving" event in April, which will tighten the supply of bitcoin. This event occurs every four years, reducing the rate at which new supply enters circulation and diminishing the reward for crypto miners. Such halving events historically provide support to the cryptocurrency's price. Despite the recent surge, the unpredictable nature of Bitcoin's price trajectory remains a challenge, with the cryptocurrency having less than two decades as a financial asset. The Financial Conduct Authority (FCA) in the UK has joined the list of regulators allowing digital asset trading products. The FCA announced its approval for recognised investment exchanges to launch crypto-backed exchange-traded notes (ETNs), cautioning that these products should be restricted to professional investors. The FCA expressed concerns about the potential harm to retail investors from crypto ETNs, while acknowledging the growing demand within the investment community for such products. Data from the US Commodity Futures Trading Commission reveals that asset managers now hold the largest bullish position in bitcoin futures on record. The net long position held by asset managers, often considered indicative of institutional investors' holdings such as mutual funds and pension funds, rose to 15,531 lots, valued at $5.5 billion based on the current bitcoin price. Meanwhile, the cryptocurrency Ether experienced a 3.97 per cent rise, reaching $4,062.07, driven by speculation that US regulators may approve spot ether ETF listings this year, resulting in a 75 per cent increase in its value in 2024. Additionally, for crypto stocks, Coinbase's shares rose by 2.8 per cent, while crypto miners Riot Platforms and Marathon Digital saw declines of 2.2 per cent and 6.1 per cent, respectively. (With inputs from Reuters)

Bitcoin skyrockets to record highs surpassing $72,000 amid strong demand

Bitcoin just shattered another record. The digital currency surged past $72,000, fueled by a massive influx of investment and the anticipation of a supply squeeze. Take a look at this next report for more…

Bitcoin rockets to record $72,000 high amid ETF surge

<o:p></o:p>

WION's Business Desk brings you this daily round-up of global stories from the world of business and economy.<o:p></o:p>

Bitcoin skyrockets to record highs surpassing $72,000 amid strong demand<o:p></o:p>

Bitcoin has reached an all-time high above $72,000 on Monday, continuing its upward trajectory as demand for the leading cryptocurrency shows no signs of declining.<o:p></o:p>

<a href="https://www.wionews.com/business-economy/bitcoin-skyrockets-to-record-highs-surpassing-72000-amid-strong-demand-699210">Read more here</a><o:p></o:p>

Trump's TikTok U-turn: Says some kids will 'go crazy without it', Facebook 'enemy of the people'<o:p></o:p>

As the US is moving towards a possible ban on TikTok in the country, former president Donald Trump has now opposed it, saying such a step will only empower Facebook which in his view is the "enemy of the people".&nbsp;<o:p></o:p>

<a href="https://www.wionews.com/world/trump-takes-a-u-turn-on-tiktok-ban-says-facebook-is-enemy-of-the-people-699215">Read more here</a><o:p></o:p>

Elon Musk accused of using charity foundation to serve tax breaks and self-interests<o:p></o:p>

Elon Musk, the world's second-richest person, is under scrutiny as an in-depth report suggests that his charity, The Musk Foundation, is being utilised for tax breaks and self-serving interests.<o:p></o:p>

<a href="https://www.wionews.com/business-economy/elon-musk-accused-of-using-charity-foundation-for-serving-tax-breaks-and-self-interests-699225">Read more here</a><o:p></o:p>

Byju's shifts to remote work, closes offices nationwide amid financial turmoil<o:p></o:p>

India’s Edtech firm, Byju's, has implemented a permanent work-from-home policy for its employees, with the exception of nearly 300 Byju's Tuition Centres.<o:p></o:p>

<a href="https://www.wionews.com/business-economy/byjus-shifts-to-remote-work-closes-offices-nationwide-amid-financial-turmoil-699202">Read more here</a><o:p></o:p>

India still world’s largest arms importer with Russia being its top supplier: Report<o:p></o:p>

India continues to be the world’s largest arms importer, with Russia being the prime source of its procurement despite declining share in past years, the Stockholm International Peace Research Institute (SIPRI) reported on Monday (Mar 11).<o:p></o:p>

<a href="https://www.wionews.com/world/india-still-worlds-largest-arms-importer-with-russia-being-top-supplier-699242">Read more here</a><o:p></o:p>

IndiGo's co-founder Rakesh Gangwal sells $820 million stake in bulk deal<o:p></o:p>

Indian low-cost carrier, IndiGo’s co-founder, Rakesh Gangwal, has sold 5.8 per cent stake in operator Interglobe Aviation via bulk deals, raising a sum of ₹6,785 crore ($820.3 million) on Monday.<o:p></o:p>

<a href="https://www.wionews.com/business-economy/indigo-co-founder-rakesh-gangwal-sells-820-million-stake-in-bulk-deal-699251">Read more here</a><o:p></o:p>

Ford settles US import tariff evasion case, agrees to pay $365 million<o:p></o:p>

In a resolution to a decade-old dispute, Ford Motor will pay a hefty sum of $365 million to settle allegations brought forth by the US Justice Department.<o:p></o:p>

<a href="https://www.wionews.com/business-economy/ford-settles-us-import-tariff-evasion-case-agrees-to-pay-365-million-699261">Read more here</a><o:p></o:p>

Xiaomi set to revolutionise EV market with SU7 launch, shares surge 7 pc<o:p></o:p>

China's tech giant Xiaomi has announced the commencement of deliveries for its first electric vehicle (EV) model, SU7, this month, marking its foray into the competitive automotive landscape<o:p></o:p>

<a href="https://www.wionews.com/business-economy/xiaomi-set-to-revolutionise-ev-market-with-su7-launch-shares-surge-7-pc-699271">Read more here</a><o:p></o:p>

Boeing’s present troubles present an opportunity for Airbus to ascend. Here’s how<o:p></o:p>

Airbus, once the underdog, has soared to prominence, surpassing Boeing with its A320 series becoming the best-selling aircraft of all time in 2019.<o:p></o:p>

<a href="https://www.wionews.com/business-economy/boeings-present-troubles-present-an-opportunity-for-airbus-to-ascend-heres-how-699290">Read more here</a><o:p></o:p>

FTC hearing set for Kroger-Albertsons merger amid price hike concerns<o:p></o:p>

US District Judge Adrienne Nelson has scheduled a hearing for August 26 to consider the Federal Trade Commission's request for a preliminary injunction against Kroger's $24.6 billion acquisition of Albertsons, a smaller rival.<o:p></o:p>

<a href="https://www.wionews.com/business-economy/ftc-hearing-set-for-kroger-albertsons-merger-amid-price-hike-concerns-699295">Read more here</a><o:p></o:p>

JPMorgan CEO Jamie Dimon urges Fed caution on interest rate cuts<o:p></o:p>

Jamie Dimon, CEO of JPMorgan Chase, has advised the Federal Reserve to exercise prudence before considering any interest rate cuts, urging the central bank to uphold its credibility in combating inflation.<o:p></o:p>

<a href="https://www.wionews.com/business-economy/jpmorgan-ceo-jamie-dimon-urges-fed-caution-on-interest-rate-cuts-699297">Read more here</a> <o:p></o:p>

US Commerce Secretary announces $1 billion investments in Philippines<o:p></o:p>

During an official visit to Manila on Monday, US Commerce Secretary Gina Raimondo revealed that American companies are poised to unveil investments totalling more than $1 billion in the Philippines.<o:p></o:p>

<a href="https://www.wionews.com/business-economy/us-commerce-secretary-announces-1-billion-investments-in-philippines-699300">Read more here</a> <o:p></o:p>

WION's Business Desk brings you this daily round-up of global stories from the world of business and economy. Bitcoin skyrockets to record highs surpassing $72,000 amid strong demand Bitcoin has reached an all-time high above $72,000 on Monday, continuing its upward trajectory as demand for the leading cryptocurrency shows no signs of declining.

WION's Business Desk brings you this daily round-up of global stories from the world of business and economy. Bitcoin skyrockets to record highs surpassing $72,000 amid strong demand Bitcoin has reached an all-time high above $72,000 on Monday, continuing its upward trajectory as demand for the leading cryptocurrency shows no signs of declining. Read more here Trump's TikTok U-turn: Says some kids will 'go crazy without it', Facebook 'enemy of the people' As the US is moving towards a possible ban on TikTok in the country, former president Donald Trump has now opposed it, saying such a step will only empower Facebook which in his view is the "enemy of the people". Read more here Elon Musk accused of using charity foundation to serve tax breaks and self-interests Elon Musk, the world's second-richest person, is under scrutiny as an in-depth report suggests that his charity, The Musk Foundation, is being utilised for tax breaks and self-serving interests. Read more here Byju's shifts to remote work, closes offices nationwide amid financial turmoil India’s Edtech firm, Byju's, has implemented a permanent work-from-home policy for its employees, with the exception of nearly 300 Byju's Tuition Centres. Read more here India still world’s largest arms importer with Russia being its top supplier: Report India continues to be the world’s largest arms importer, with Russia being the prime source of its procurement despite declining share in past years, the Stockholm International Peace Research Institute (SIPRI) reported on Monday (Mar 11). Read more here IndiGo's co-founder Rakesh Gangwal sells $820 million stake in bulk deal Indian low-cost carrier, IndiGo’s co-founder, Rakesh Gangwal, has sold 5.8 per cent stake in operator Interglobe Aviation via bulk deals, raising a sum of ₹6,785 crore ($820.3 million) on Monday. Read more here Ford settles US import tariff evasion case, agrees to pay $365 million In a resolution to a decade-old dispute, Ford Motor will pay a hefty sum of $365 million to settle allegations brought forth by the US Justice Department. Read more here Xiaomi set to revolutionise EV market with SU7 launch, shares surge 7 pc China's tech giant Xiaomi has announced the commencement of deliveries for its first electric vehicle (EV) model, SU7, this month, marking its foray into the competitive automotive landscape Read more here Boeing’s present troubles present an opportunity for Airbus to ascend. Here’s how Airbus, once the underdog, has soared to prominence, surpassing Boeing with its A320 series becoming the best-selling aircraft of all time in 2019. Read more here FTC hearing set for Kroger-Albertsons merger amid price hike concerns US District Judge Adrienne Nelson has scheduled a hearing for August 26 to consider the Federal Trade Commission's request for a preliminary injunction against Kroger's $24.6 billion acquisition of Albertsons, a smaller rival. Read more here JPMorgan CEO Jamie Dimon urges Fed caution on interest rate cuts Jamie Dimon, CEO of JPMorgan Chase, has advised the Federal Reserve to exercise prudence before considering any interest rate cuts, urging the central bank to uphold its credibility in combating inflation. Read more here US Commerce Secretary announces $1 billion investments in Philippines During an official visit to Manila on Monday, US Commerce Secretary Gina Raimondo revealed that American companies are poised to unveil investments totalling more than $1 billion in the Philippines. Read more here

WION Business Wrap | Bitcoin’s ascend to $72,000, Trump’s TikTok U-turn and more

After a brutal crypto winter that saw bitcoin prices plummet, miners are back in action. Fueled by a recent surge in Bitcoin value – up over 400% since its 2022 lows – and the upcoming "Halving" event in April, miners are in a race to maximize profits. The halving, a pre-programmed feature of Bitcoin's code, cuts miner rewards in half, significantly impacting their income stream.

Bitcoin miners gear up for halving

Is the Bitcoin boom unsustainable?

The bitcoin rally continued on friday as it reached a record-high of $70,000 before falling to the $68,000-levels amid volatile trading. The latest surge is an indication of the crypto mania that has gripped the investor communitty, especially in the US.

Demand for US Bitcoin etfs boost Bitcoin prices

Bitcoin rallied to a record high on Friday in volatile trade, as crypto mania continued to sweep through the investment community.

The leading cryptocurrency topped the $70,000 mark for the first time, boosted by investor demand for new U.S. spot exchange-traded crypto products and expectations for global interest rates to fall.

Billions of dollars have flowed into ETFs in the past few weeks and the market is getting extra support from an outlook that includes an upgrade to the ethereum blockchain platform, home to bitcoin rival ether, and a bitcoin "halving" event, which slows the flow of bitcoin minting, in April.

The approval of 11 spot bitcoin ETFs by the U.S. Securities and Exchange Commission in late January had marked a watershed moment for the industry, following an 18-month long crypto winter plagued by a string of high-profile corporate bankruptcies and scandals.

Even institutional investors who once shunned crypto due to its sharp and wild moves, have begun committing long-term money too, which analysts say could help sustain the latest leg of this rally.

Net flows into the 10 largest U.S. spot bitcoin funds reached $2.2 billion in the week ended March 1, with more than $2 billion of that going into BlackRock's iShares Bitcoin Trust, according to LSEG data.

The recent optimism over bitcoin has also spilled over to other digital tokens, particularly ether, which ranks second behind bitcoin in terms of total market value, up more than 60% since the start of the year.

Still, some say it's hard to shake off the speculative nature of these assets. After hitting the record high on Tuesday, bitcoin sharply reversed course and fell more than 10% back below the $60,000 level.

Bitcoin rallied to a record high on Friday in volatile trade, as crypto mania continued to sweep through the investment community. The leading cryptocurrency topped the $70,000 mark for the first time, boosted by investor demand for new U.

Bitcoin rallied to a record high on Friday in volatile trade, as crypto mania continued to sweep through the investment community. The leading cryptocurrency topped the $70,000 mark for the first time, boosted by investor demand for new U.S. spot exchange-traded crypto products and expectations for global interest rates to fall. Billions of dollars have flowed into ETFs in the past few weeks and the market is getting extra support from an outlook that includes an upgrade to the ethereum blockchain platform, home to bitcoin rival ether, and a bitcoin "halving" event, which slows the flow of bitcoin minting, in April. The approval of 11 spot bitcoin ETFs by the U.S. Securities and Exchange Commission in late January had marked a watershed moment for the industry, following an 18-month long crypto winter plagued by a string of high-profile corporate bankruptcies and scandals. Even institutional investors who once shunned crypto due to its sharp and wild moves, have begun committing long-term money too, which analysts say could help sustain the latest leg of this rally. Net flows into the 10 largest U.S. spot bitcoin funds reached $2.2 billion in the week ended March 1, with more than $2 billion of that going into BlackRock's iShares Bitcoin Trust, according to LSEG data. The recent optimism over bitcoin has also spilled over to other digital tokens, particularly ether, which ranks second behind bitcoin in terms of total market value, up more than 60% since the start of the year. Still, some say it's hard to shake off the speculative nature of these assets. After hitting the record high on Tuesday, bitcoin sharply reversed course and fell more than 10% back below the $60,000 level.

Bitcoin rises to record high over $70,000

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