A U.S. federal court sentenced Ramil Ventira Palafox, who was the founder and former CEO of Praetorian Group International (PGI), to 20 years in prison for running a bitcoin-based cryptocurrency Ponzi scheme that defrauded tens of thousands of investors around the world. What happened According to the U.S. DOJ, PGI
Standard Chartered has lowered its price forecast for Bitcoin (BTC) and warned that the cryptocurrency could decline toward $50,000 before any sustained recovery later in the year. The reduction comes amid ongoing macro headwinds, outflows from exchange-traded products, and continued weakness that led BTC to trade below the $70K zone.
Brazil’s Congress has recently proposed a bill to purchase a strategic reserve of 1 million Bitcoins. The Lawmakers proposed implementing the bill over five years through gradual Bitcoin purchases. The official draft of this bill is known as the Bitcoin Strategic Reserve Act. It extends previous ideas of utilizing foreign
Bitcoin OG, also known as Lucky, has supported taking strategic moves in the crypto market. It has emphasized that the key is discipline and not emotion. His statement comes at a time when the top tokens are experiencing high volatility and prices across the crypto sector are down significantly. Bitcoin
Bhutan just sold more Bitcoin tokens in continuation of its 3-week selling pattern. The country still holds a considerable amount of the flagship token. The move has triggered speculation, considering BTC price has dropped below $67k. Nevertheless, sentiments for the future of bitcoin are bullish. Bhutan Sells More Bitcoin Tokens
Spot Bitcoin ETFs have ended their three consecutive days of net inflows and posted a strong outflow on February 11; only WisdomTree’s ETF (BTCW) has recorded net inflows that were also wiped out by other funds, followed by spot Ethereum ETFs with solid net outflows. U.S.-listed spot Bitcoin ETFs recorded
Strategy is increasing its program of preferred stocks to buy more Bitcoins as it seeks to reduce the impact of market volatility. The company wants to continue accumulating Bitcoin while also limiting the volatility that often rattles its common shares. The new preferred product, called “Stretch,” pays a variable dividend
The world’s largest crypto exchange, Binance’s Secure Asset Fund for Users (SAFU), has completed its planned conversion of $1 billion in stablecoin reserves into Bitcoin, with Arkham Intelligence tracking a recent transfer of 4,545 BTC, valued at about $304.6 million, into the SAFU wallet. The move follows earlier deposits and
Grayscale Investments released a research report highlighting Bitcoin’s recent correlation with technology stocks rather than precious metals. The firm said Bitcoin’s short-term price behavior resembles that of high-growth tech equities. Bitcoin’s decline below $60,000 on February 5 aligned with broader tech sector sell-offs. The research noted that Bitcoin’s peak above
U.S.-listed spot Bitcoin exchange-traded funds (ETFs) recorded inflows for two consecutive days this week, totaling $311.56 million, and actually marked a third continuous day of inflows as they neared surpassing last week’s outflows. Even Ethereum ETFs are positive since the week started. According to the SoSoValue data, the spot Bitcoin
