Ferrari, the renowned Italian luxury sports car manufacturer, has recently revealed its plans to broaden its cryptocurrency payment system to its network of European dealers starting at the end of July. By the year 2024, the company aims to extend its crypto transaction options to additional countries within its global dealership network where digital currencies
Crypto
The launch of spot Ethereum ETFs last Tuesday was met with initial enthusiasm, as evidenced by the $106 million in net flows on the first day. However, this optimism quickly dissipated as the following days saw significant outflows totaling $341.8 million. In comparison, spot Bitcoin ETFs had a much more successful start, with inflows totaling
The cryptocurrency industry has faced a series of ups and downs in 2024, with the approval of exchange-traded funds (ETFs) tracking Ethereum’s performance by the US Securities and Exchange Commission being one of the highlights. While the initial enthusiasm surrounding the ETF launch led to substantial inflows, the market quickly turned sour in the following
The CEO of VanEck, Jan van Eck, recently shared his thoughts on Bitcoin during the BTC Conference in the United States. Van Eck emphasized the importance of Bitcoin in the modern financial landscape, stating that over 30% of his portfolio is allocated to this primary digital asset. VanEck is a prominent player in the investment
Kennedy’s proposal for the federal government to purchase Bitcoin until it matches the value of the nation’s gold reserves is a bold and controversial idea. With US gold reserves currently valued at around $615 billion, acquiring 9.4 million BTC would make up almost 45% of the total Bitcoin supply. This move raises questions about the
Despite the excitement surrounding the launch of several Ethereum ETFs this week, the price of Ethereum actually experienced a significant drop of over 10%. This unexpected turn of events transformed the ETF launch into a sell-the-news moment for investors. The support level at $3,300 has now turned into a resistance level, potentially pushing ETH down
Friday, July 26, marks a significant event in the crypto market as around 61,200 Bitcoin options contracts with a notional value of approximately $4.26 billion are set to expire. This expiry event is larger than usual due to the month-end timing. Despite the launch of spot Ethereum ETFs in the United States, the spot markets
In an astounding turn of events, a Bitcoin mining device boasting a mere 500 gigahashes per second (Gh/s) managed to successfully mine a block on July 24th. This achievement is nothing short of remarkable considering the slim odds of 1 in 1.1 billion of accomplishing this feat approximately every ten minutes. The device in question,
The second day of trading for the spot Ethereum ETFs took a significantly different turn compared to the first day. Over $133 million were withdrawn from these financial vehicles, leading to a massive price drop of 10% for the underlying asset. This reaction in the market confirmed the initial speculation that the approvals of the
The ongoing legal battle between Ripple and the United States Securities and Exchange Commission (SEC) has captured the attention of many in the cryptocurrency world. Despite being in its final trial phase as of April 2024, experts have varied predictions on when a resolution could be reached. Ripple’s CEO has hinted at a potential agreement