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Peter Davis

An writer at FOMOdrive

  • Aug 04, 2023
  • 2 min read

The US Department of Justice is preparing to file charges against Binance

An all-time high has been reached in the amount of addresses that possess a balance of 0.01 BTC or more.

It is predicted that Bitcoin will gain the majority of capital that is currently held in traditional assets.

Tether has confirmed that they have acquired 1529 Bitcoin (BTC).

Benjamin Cowen cautioned that Litecoin could experience an additional decline.

Binance has surpassed 150 million users.

Glassnode has observed that many investors are choosing to purchase Bitcoin while it is trading below $30,000. The number of wallets containing a balance of 0.01 BTC or more has hit a record high of 12.22 million. Simultaneously, the number of unprofitable wallets has been at its peak since June's end, with 14.04 million.

Michael Saylor, the founder of MicroStrategy, has stated that eventually, Bitcoin will be able to amass the majority of the capital that is currently held in traditional assets. Even if regulators approve applications for any Bitcoin spot ETFs, his company will still be an attractive option for investors who want to make an indirect investment in BTC through buying its shares.

In the second quarter of 2021, MicroStrategy made its largest purchase of Bitcoin since the start of the year, acquiring 12,333 BTC worth $347 million.

In the second quarter of this year, Tether confirmed the purchase of 1529 bitcoins. Back in May, the company had announced that it would be allocating up to 15% of its quarterly profits for the acquisition of BTC.

Mike Selig, a former lawyer for the U.S. Commodity Futures Trading Commission (SEC), has proposed that if Bitcoin spot ETFs are permitted to be launched in the U.S., then Ethereum and XRP-backed exchange-traded funds would be the next to follow.

The US Department of Justice is reportedly preparing to file fraud charges against the Binance crypto exchange, however, they are worried about a potential mass exodus of users. On Thursday, Changpeng Zhao, the head of the exchange, revealed that the number of Binance users has surpassed 150 million.

The first license for retail cryptocurrency trading has been granted to HashKey Exchange in Hong Kong. This allows the exchange to provide services to retail investors in the region.

ASIC has taken legal action against eToro, alleging that the platform's Contracts for Difference (CFDs) enable speculation, including on cryptocurrencies.

Benjamin Cowen, a well-known cryptocurrency analyst, cautioned that Litecoin may be facing difficulty following the most recent halving and that its growth will not start until 2025.

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