What Happened to Bitcoin and Ethereum Funds Last Week

What Happened to Bitcoin and Ethereum Funds Last Week

The ongoing downturn in the cryptocurrency market has been stark, with Bitcoin and Ethereum exchange-traded funds (ETFs) facing significant outflows in recent weeks. This trend appears to reflect broader market concerns, as more than $1.2 billion was withdrawn from these financial instruments last week alone, impacting markets in the United States, Switzerland, and Canada. Cumulatively,…

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Musk says he found ‘magic money computers’ printing money ‘out of thin air’

Musk says he found ‘magic money computers’ printing money ‘out of thin air’

In a recent conversation on Senator Ted Cruz’s podcast, Elon Musk made a striking claim about the federal government’s financial mechanisms, referring to the existence of at least 14 “magic money computers” embedded within various federal departments. According to Musk, these computers, found in the Department of Treasury, Defense, and Health and Human Services, possess…

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Bitcoin’s recent $12B open interest wipeout was essential, says analyst

Bitcoin’s recent B open interest wipeout was essential, says analyst

Bitcoin is experiencing a significant shift, marked by a nearly $12 billion drop in open interest earlier this month. This sharp decline in Bitcoin’s open interest (OI), which measures the total number of unsettled derivative contracts like options and futures, may serve as a critical turning point for the cryptocurrency, indicating a potential rebound. According…

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Solana Protected Gender Identity Before Panning It in Anti-Queer Ad

Solana Protected Gender Identity Before Panning It in Anti-Queer Ad

The Solana Foundation faced significant backlash late Monday after it withdrew an advertisement that many deemed anti-queer, only nine hours after launching it. The contentious ad featured a personification of “America” undergoing therapy, struggling to focus on grand ideas related to technology, cryptocurrency, and space exploration. Instead, the therapist insists that “America” concentrate on “pronouns”…

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Paul Atkins closes in on SEC chair role amid setbacks: Report

Paul Atkins closes in on SEC chair role amid setbacks: Report

Paul Atkins is reportedly moving closer to assuming the role of chair of the U.S. Securities and Exchange Commission (SEC), a position keenly eyed by the cryptocurrency community. His nomination by President Donald Trump on December 4, 2024, has faced delays primarily due to complications surrounding financial disclosures linked to his marriage into a billionaire…

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No Strategic Bitcoin Reserve in South Korea: Report

No Strategic Bitcoin Reserve in South Korea: Report

The Bank of Korea has definitively stated its position regarding the inclusion of Bitcoin (BTC) in the nation’s foreign exchange reserves, expressing a clear reluctance to adopt a strategic bitcoin reserve policy. This stance was articulated in a recent inquiry response from the central bank to Representative Cha Gyu-Geun, a member of the Democratic Party…

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Bitcoin sees 30% retracement as selling pressure increases — Bitfinex

Bitcoin sees 30% retracement as selling pressure increases — Bitfinex

Bitcoin’s latest bout of volatility marks a significant turning point in the cryptocurrency landscape, as recent analyses from crypto exchange Bitfinex indicate the asset has faced its second-largest correction during the ongoing bull run. The digital currency saw a notable decline from its historic peak of $109,590, set on January 20, down to $77,041 in…

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Whales Amass $32.9M Profit in 21 Days

Whales Amass .9M Profit in 21 Days

Whales have recently taken center stage in the decentralized finance (DeFi) ecosystem, showcasing remarkable investment activity in major tokens such as Uniswap (UNI), Maker (MKR), and Bounce (AUCTION) from Binance. In a mere span of three weeks, these influential traders have accrued an impressive unrealized profit of $32.9 million, translating to an astounding 87% gain…

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