Author: Kryptonews

Chinese regulators have broadened their crackdown on crypto activities, imposing strict oversight on tokenization and stablecoin issuance in a Friday notice.”Recently, influenced by various factors, speculative activities related to virtual currencies and the tokenization of real-world assets have occurred frequently, posing new challenges and situations for risk prevention and control,” said the notice, issued jointly by eight national organizations including the People’s Bank of China (PBOC) and the China Securities Regulatory Commission (CSRC).The notice reiterates China’s blanket ban on crypto, saying that trading, issuing or facilitating transactions involving digital currencies such as bitcoin BTC$70,966.71, ether ETH$2,131.65, or stablecoins like Tether’s…

Bitcoin BTC$70,228.81 suffered a flash crash to $55,000 on South Korean exchange Bithumb this week after what appears to have been a major internal accounting error.Bithumb mistakenly credited users with 2,000 BTC each instead of a small reward worth 2,000 Korean won (about $1.50), according to a blog post on Friday. The result was tens of millions of dollars’ worth of phantom bitcoin appearing in hundreds of user accounts. No bitcoin was moved onchain, and inflated balances existed only in Bithumb’s internal ledger.Users who suddenly saw enormous balances wasted little time trying to sell, triggering a sharp selloff on Bithumb’s…

Two teenagers from California are facing serious felony charges after authorities say they traveled hundreds of miles to carry out a violent home invasion in Scottsdale, Arizona, in a bid to obtain cryptocurrency believed to be worth $66 million. Key Takeaways: Two California teens allegedly traveled over 600 miles to carry out a violent home invasion targeting $66 million in cryptocurrency. Police arrested the suspects shortly after they fled the scene and recovered restraints and a 3D-printed firearm. Investigators say unknown contacts on an encrypted messaging app directed the plot and funded supplies. According to court records cited by local…

Bitcoin’s drop below $70,000 is being seen very differently by long-time holders and institutional investors, according to Bitwise CEO Hunter Horsley.“I think long-time holders are feeling unsure, and I think the new investor set, institutions are sort of getting a new crack at the apple,” Horsley said during an interview with CNBC on Friday. Horsley said that institutional buyers are “seeing prices they thought that they’d forever missed.” It was only in October that Standard Chartered’s head of digital asset research, Geoff Kendrick, said he doesn’t expect Bitcoin to fall below $100,000 again.Bitcoin “getting swept up” with the rest of macroHorsley…

Cathie Wood’s ARK Invest continued reducing its exposure to crypto exchange Coinbase on Friday, unloading $22 million worth of shares across multiple exchange-traded funds (ETFs) while adding to its position in digital asset platform Bullish.According to ARK’s trade disclosures, the firm sold 92,737 Coinbase Global shares from the ARK Innovation ETF (ARKK), 32,790 shares from the Next Generation Internet ETF (ARKW) and 8,945 shares from the Fintech Innovation ETF (ARKF). The combined transactions totaled 134,472 shares, worth around $22.1 million.The sale came as ARK Invest, led by Cathie Wood, has reversed course on Coinbase, selling 119,236 COIN worth about $17.4…

Wall Street analysts covering Strategy (MSTR) broadly agree on one point after the company’s fourth-quarter earnings on Thursday: the headline losses look dramatic, but they do not signal a liquidity crisis or forced bitcoin selling.Strategy reported a $17.4 billion operating loss and a $12.6 billion net loss for the quarter, figures driven largely by non-cash mark-to-market accounting tied to bitcoin’s BTC$70,564.49 price decline. Both TD Cowen and Benchmark said the market reaction missed that context, sending shares down about 17% on a day when bitcoin and other risk assets were already under pressure.Shares are higher by 21% on Friday as…

Crypto investors holding the Origin Token (OGN) cryptocurrency need to pay attention, as market analyst Crypto Patel today delivered disturbing news that shows that the altcoin is set for significant declines this month. Origin Token (OGN) is the native cryptocurrency of the Origin Protocol, a decentralized finance (DeFi) platform designed to build the future of internet commerce, aiming to develop a true peer-to-peer commerce. The DeFi network powers decentralized e-commerce platforms and peer-to-peer marketplaces, enabling users to buy and sell services and goods on such marketplaces in a decentralized manner, without the involvement of intermediaries and with decreased transaction fees.…

South Korean cryptocurrency exchange Bithumb says it has resolved an incident in which a promotional reward error credited certain user accounts with excess Bitcoin.In a Sunday statement, the exchange confirmed it recovered 99.7% of the overpaid Bitcoin (BTC) on the same day the incident occurred. The remaining 0.3%, totaling 1,788 Bitcoin that had already been sold, was covered using company funds to ensure customer balances remained fully matched.“Bithumb’s holdings of all virtual assets, including Bitcoin (BTC), are 100% equivalent to or exceeding user deposits,” the exchange wrote. According to Bithumb, most of the excess Bitcoin was retrieved directly from accounts,…

XRP staged a sharp rebound on Friday, rising about 18% over 24 hours to trade near $1.49 after a deep selloff a day earlier made it the worst performer among major tokens.The move came as bitcoin briefly rose over $70,000 in U.S. morning hours, reversing Thursday’s sharp declines ahead of the weekend.The bounce came after XRP collapsed to roughly $1.14 in the prior session, a move that triggered heavy liquidations and flushed out traders who had been leaning too hard on leverage. Data shows short liquidations of roughly $26 million in the past 24 hours, compared with around $30 million…

Key NotesTether secured equity in Anchorage Digital Bank, America’s first federally chartered crypto institution.The partnership enables compliant stablecoin operations within US regulatory frameworks under federal supervision.This strategic move contrasts with previous attempts to enter American markets without traditional banking partnerships. Tether Investments announced on February 05 that it invested $100 million in Anchorage Digital, backing the federally chartered bank that issues its USA₮ stablecoin for the American market. This equity stake builds on an existing relationship between the companies as Tether pursues a significant foothold in the United States. Anchorage Digital Bank N.A., the country’s first federally chartered digital asset…