Crypto News LIVE Updates: Ripple CEO Brad Garlinghouse reveals delaying initial public offering (IPO) in the U.S. due to hostile US SEC. Ripple explored markets outside the U.S. for its IPO. Garlinhouse reiterated that SEC Chair Gary Gensler is a “political liability” despite approving spot Bitcoin ETFs last week.
The U.S. Treasury Department and Internal Revenue Service announced that businesses do not have to report digital assets transactions above $10,000 until the new regulations. The Infrastructure Investment and Jobs Act revised the rules that required taxpayers engaged in a trade or business to report cash receipts of more than $10,000 by considering digital assets to be cash.
The crypto market cap rebounded nearly 1% to $1.71 trillion on the back of altcoin price rise. Bitcoin price continues to trade range-bound and holds near $43,000, with a slight increase in trading volume. Among top altcoins Ethereum and Solana gain upside momentum. Ethereum price is trading at $2,578, up over 2% in the last 24 hours and SOL price jumps 4% to $100.
Meanwhile, JP Morgan’s Jamie Dimon warned investors about Bitcoins. In an interview, Dimon said “don’t get involved in Bitcoin” as his personal advice.
Live
09:19:02 PM IST, 17 January 2024
Crypto News Live: Crypto Investment Products Mark $424M in Outflows in a Week
The world of bitcoin investing has undergone a significant shift this week. Data from CoinShares indicates a significant withdrawal from cryptocurrency investment products, amounting to around $424 million as of Monday. This development indicates that investor preferences and strategies in the cryptocurrency market have undergone a substantial shift.
08:56:55 PM IST, 17 January 2024
Crypto News Live: Gemini Expands in France, Receives Regulator Approval
Gemini, a cryptocurrency exchange, has been given regulatory clearance to operate in France. CNBC reports that Gemini has been approved as a provider of virtual asset services in France by the AMF authority. An important step forward for an American cryptocurrency exchange in Europe is the approval.
08:44:08 PM IST, 17 January 2024
Crypto News Live: Grayscale Makes Hefty Bitcoin Transfer
Grayscale has made another bulk Bitcoin traction on Wednesday. Grayscale has sent an additional $800 million worth of Bitcoin to Coinbase.
08:26:05 PM IST, 17 January 2024
Crypto News Live: Binance Completes Quarterly Burning
The 26th BNB quarterly burning is finished, according to Binance’s release. Approximately US$636 million, or 2,141,487.27 BNB, were burned this period.
08:07:04 PM IST, 17 January 2024
Crypto News Live: AI Might Generate better Drugs, Says Novartis CEO
Novartis CEO on Wednesday gave his views on global healthcare and role of AI in developing it. In an interview, he said AI will impact productivity efforts in drug development and Maybe AI will generate a better obesity drug.
07:59:15 PM IST, 17 January 2024
Crypto News Live: IMF Turns Its Back On Bitcoin
Amid negative comments about using Bitcoin, IMF is the recent global institution to join the bandwagon. IMF Chief recently said that Bitcoin is not “exactly money”. The comments come at a time when market has just seen a relaxation of laws from Europe and a historical Bitcoin ETF approval.
07:43:30 PM IST, 17 January 2024
Crypto News Live: Terra Luna Garners Investor Attention as EVM Prospal Gets Nod
Recently, the Terra Classic community announced a huge milestone for their token as the Terra commune moves forward with its EVM proposal, attracting a lot of interest from the larger cryptocurrency market. The commune has opened up the Terra platform to EVM (Ethereum Virtual Machine), according to a recent statement, with the goal of offering notable benefits soon.
07:22:28 PM IST, 17 January 2024
Crypto News Live: QCP Capitals Sees ETH Outperform BTC in Near Future
As the focus shifts to possible Spot ETF approvals, QCP Capital anticipates that ETH will continue to outperform BTC over the medium term. Additionally, BTC forwards have decreased more than ETH forwards since the debut of the BTC spot ETF.
07:05:47 PM IST, 17 January 2024
Crypto News Live: Goerli Testnet Marks a Dicey Debut
On the Goerli testnet, the Ethereum Dencun upgrade was released on Wednesday, however it did not finish in the allotted amount of time. After the validators went back online, the chain resumed its finalization process, with a sizable quantity of blobs having been submitted to the network.
06:52:48 PM IST, 17 January 2024
Crypto News Live: Studies Find 1 Out of 10 People in El Salvadore Use Bitcoin
El Salvadore has emerged as a country with a rapidly growing digital assets use. A recent university study finds 1 in 10 El Salvador residents have used Bitcoin for payments.
06:42:34 PM IST, 17 January 2024
Crypto News Live: Pre-Market, Valkyrie Bitcoin ETF (BRRR) Climbs 12%
Today’s pre-market trading session saw an amazing increase of more than 12% for the Valkyrie Bitcoin ETF (BRRR). This represents a notable recovery following four days in a row of falls since the start. As for the other Spot Bitcoin ETFs, they continued to fall.
06:23:40 PM IST, 17 January 2024
Crypto News Live: BlackRock Now Posses Bitcoin ETFs Worth $707 Million
In value of nearly $707 million, BlackRock now possesses 16,361 Bitcoin for its spot Bitcoin ETF. It still remains higher than a lot of its competitors.
06:01:08 PM IST, 17 January 2024
Crypto News Live: Jamie Dimon Takes Shocking Jib on Bitcoins
Jamie Dimon of JP Morgan warns “don’t get involved in Bitcoin” as his personal advise.
05:48:33 PM IST, 17 January 2024
Crypto News Live: The GBTC Gouge is Big and Ugly: Bloomberg Analyst
The GBTC Gouge is large and ugly, according to a Bloomberg analyst. Eric Balchunas says the good news is that the percentage discount is decreasing on GBTC; meaning there will be less pressure on the from investor fund inflow.
05:24:42 PM IST, 17 January 2024
Crypto News Live: China Standardizes AI With New Guideline
According to a statement published on the ministry’s website, China’s industry ministry released draft rules for standardizing the artificial intelligence (AI) sector on Wednesday.
By 2026, more than 50 industry-wide and national AI standards are to be established, according to the draft. It further stated that by then, China hoped to have contributed to the creation of over 20 worldwide AI standards.
05:03:30 PM IST, 17 January 2024
Crypto News Live: Fidelity Takes Top Spot Among Bitcoin ETF Asset Flows
Past three days of trading saw Fidelity emerge as the top asset flow with $524 million. Blackrock and Bitwise took the second and the third place, respectively.
05:01:56 PM IST, 17 January 2024
Crypto News Live: Invesco and Valkyrie ETFs Boost Portfolio with 1,076 Bitcoins
Invesco and Valkyrie’s Bitcoin ETFs have made significant additions to their portfolios, acquiring a total of 1,076 Bitcoins, as reported by CC15Capital. In specific details, Invesco Galaxy Bitcoin ETF (BTCO) purchased 721 Bitcoins, while Valkyrie Bitcoin Fund (BRRR) augmented its holdings with an additional 355 Bitcoins.
04:34:50 PM IST, 17 January 2024
Crypto News Live: Peter Schiff Anticipates Gary Gensler To Introduce Strict Bitcoin Regulations
Peter Schiff anticipates that SEC Chair Gary Gensler, pressured by recent spot Bitcoin ETF approvals, will unveil stringent cryptocurrency regulations. In a recent X post, Schiff predicts that Gensler’s proposed regulations will significantly raise the cost of Bitcoin transactions, further eroding its utility and potentially causing a notable price downturn.
03:49:38 PM IST, 17 January 2024
Crypto News Live: Ripple Delays US IPO
Brad Garlinghouse, CEO of Ripple, said the company is seeking an IPO in the United States, but the US SEC hostility hinders the move. Ripple has looked at other jurisdictions with clear rules for IPO.
03:43:20 PM IST, 17 January 2024
Crypto News Live: Traders Turns $131K Into $6M With TROLL
Four traders have turned $131K into almost $6 million by trading TROLL meme coin after Elon Musk changed his X bio to chief troll officer (CTO). TROLL price is trading up 15% in the last 24 hours.
03:37:31 PM IST, 17 January 2024
Crypto News Live: Bitcoin Open Interest Rising Gradually
Bitcoin open interest rising slowly after the spot Bitcoin ETF launch.
03:06:54 PM IST, 17 January 2024
Crypto News Live: Ark Invest Offloads ProShares Strategy ETF (BITO) To Accumulate ARKB Bitcoin ETF
Cathie Wood’s investment management firm, Ark Invest, recently sold $15.8 million worth of BITO to buy 365,427 Ark 21Shares Bitcoin ETF (ARKB) in response to the dynamic market conditions.
02:47:20 PM IST, 17 January 2024
Crypto News LIVE: LayerZero Integrates Monad, Eyes Flawless Cross-Chain Transfers
Public chain Monad recently announced plans to amalgamate itself with the cross-chain interoperability protocol LayerZero, aiming to jack up seamless asset transfers to other chains.
02:09:09 PM IST, 17 January 2024
Crypto News LIVE: Binance Market Share Drops, Aids OKX & Bybit
According to market data revealed by Tokeninsight, the world’s leading crypto exchange, Binance, jotted down a noteworthy drop in its market share, falling from 54.2% to 48.7% in 2023. OKX and Bybit appear to be leveraging Binance’s drop, as mirrored by the surge in their market shares, jumping 4.3% and 2.2%, respectively.
01:43:23 PM IST, 17 January 2024
Crypto News LIVE: Spot Bitcoin ETFs Record Substantial Inflows & Outflows
Crypto market expert James Butterfill recently illuminated market data revolving around the outflows & inflows recorded by Bitcoin ETFs post-inception. According to his statement, GBTC registered an outflow of $1.18 billion, whereas BITO saw $141 million in outflows this week. On the other hand, newly issued spot Bitcoin ETFs saw an inflow of $2 billion.
01:19:45 PM IST, 17 January 2024
Crypto News LIVE: Ethereum’s Goerli Testnet Levels Up With Dencun Hard Fork Upgrade
Tim Beiko, Ethereum’s core developer, recently spotlighted the completion of the Dencun hard fork upgrade on Ethereum’s Goerli Testnet. The upgrade is all set to be implemented on the Sepolia and Holesky testnets if no significant issues are found.
01:01:03 PM IST, 17 January 2024
Crypto News LIVE: ZKFair Partners Space ID, Unveils .zkf Domain
ZKFair, a Zk-L2 community on Polygon CDK and Celestia DA, recently revealed the launch of the .zkf domain following a strategic collaboration with Space ID, a firm facilitating digital identities.
12:43:37 PM IST, 17 January 2024
Crypto News LIVE: Elon Musk’s X Faces Judicial Hurdle
A federal court recently rejected X’s appeal against a ruling that granted investigators access to Trump’s DMs on Twitter, now known as X. However, conservative judges disapproved of the decision as the majority’s stance jacked up the concept of executive privileges.
12:18:43 PM IST, 17 January 2024
Crypto News LIVE: Binance Unveils USDC-Margined DOGE Perpetual Contract
Binance, one of the world’s leading cryptocurrency exchanges, recently unveiled the launch of a USDC-margined DOGE Perpetual Contract. As per the firm’s statement, the launch is scheduled for January 18 at 10:00 UTC, offering up to 75x leverage for its users.
12:01:02 PM IST, 17 January 2024
Crypto News LIVE: Australia Unveils Advisory Body To Confront AI Risks
In a gust of strategic developments, Australia recently joined the global race to regulate the use of AI, aiming to mitigate the risks orbiting it. The nation’s government announced its plans to integrate an AI advisory body for the same on Wednesday, nabbing substantial attention across the globe.
11:35:52 AM IST, 17 January 2024
Crypto News LIVE: Sam Bankman Fried’s Parents Eye Dismissal of FTX Clawback Suit
As per a recent report, the parents of FTX founder Sam Bankman-Fried recently sought to get charges against them revoked. Fried’s parents, Joseph Bankman and Barbara Fried queried a U.S. Bankruptcy Judge to pitch aside the fallen crypto exchange’s lawsuit against them.
11:19:16 AM IST, 17 January 2024
Crypto News LIVE: Ripple Transfers 80 Mln XRP, Ignites Inferences
As per recent on-chain insights offered by the blockchain tracking platform Whale Alert, Ripple moved 80 million XRP, worth $46.18 million, curating a tidal wave of speculations across the broader crypto market.
11:04:08 AM IST, 17 January 2024
Crypto News LIVE: XRP Lawyer Deaton Extols Coinbase’s Legal Eagles
XRP Lawyer John E Deaton recently posted laudatory remarks for Coinbase’s litigation team on the social media platform X. In his statement, the XRP lawyer underscored Brian Armstrong and Paul Grewal’s legal team at Coinbase ahead of the SEC’s trial.
10:51:23 AM IST, 17 January 2024
Crypto News LIVE: Shytoshi Kusama Spotlights *SHIB Name Tokens, Eyes Revolutionizing Web3
Shiba Inu’s lead developer unveils *SHIB Name Tokens following a strategic collaboration with D3 Inc. With the launch of these tokens, Kusama eyes a multichain, cross-platform username for users across the Web3 space.
10:36:10 AM IST, 17 January 2024
Crypto News Live: South Korea To Introduce Review Suspension System
South Korea’s Financial Intelligence Unit (FIU) under the Financial Services Commission will introduce a ‘review suspension system’ for virtual asset service providers (VASP). The plan is to prepare the basis for suspending the review, as there may be cases where the review is extended after the business report, based on the September 2021 revision of the Specified Financial Information Act.
09:46:35 AM IST, 17 January 2024
Crypto News Live: US Treasury & IRS Holds Back Crypto Reporting
The Treasury Department and Internal Revenue Service informed businesses that they do not have to report digital assets transactions above $10,000 the same way as they must report the receipt of cash until the issue of new regulations.
09:31:43 AM IST, 17 January 2024
Crypto News Live: FTX Transfers 100 ETH To Wintermute
FTX/Alameda address has transferred 4,400 XAUT ($8.9 million) to Coinbase and 1,000 ETH ($2.6 million) to Wintermute.
09:10:46 AM IST, 17 January 2024
Crypto News Live: Europe’s Major ETP Saw $75.2 Mln Outflows
BitMEX Research data show that the U.S. Bitcoin spot ETF has been trading for 3 days after being approved. There is evidence that investors are switching from high-fee European ETP products to low-fee U.S. ETF products. During this period (January 11-16), the four largest European Bitcoin ETP outflows totaled $75.2 million.
09:07:27 AM IST, 17 January 2024
Crypto News Live: SBF Parents Seeking To Dismiss Lawsuit
SBF’s parents are seeking to have FTX’s lawsuit against them dismissed, reports reuters. They are denying that they know about FTX’s problems and benefiting from the company’s wrongdoing.
