GBTC Discount Hits Two-Year Low as SEC Skips Appeal
The GBTC discount to NAV has dropped below 16% for the first time since December 2021, as the SEC fails to appeal against the recent Grayscale ruling. The court will now likely instruct the SEC to re-evaluate Grayscale’s application to convert its GBTC product to a spot bitcoin ETF. The Grayscale Bitcoin Trust (GBTC) discount […]
Inactive Addresses Bitcoin Supply Hit All-Time High
On-chain data indicates that Bitcoin holders are amassing BTC, as the proportion of inactive BTC supply reaches all-time highs across one-, three- and five-year time domains. According to the Bitcoin supply, the last active chart on Glassnode, inactive BTC that has not moved from an address for more than one, three, and five years, has […]
Binance to convert recovery funds from BUSD to ‘native crypto’
Binance CEO, CZ, announced that due to recent “changes” in stablecoins and banks, the company’s recovery fund will be converted from Binance USD (BUSD) to “native cryptos” such as BTC. The bankruptcy of Silicon Valley Bank (SVB), Silvergate Bank, and Signature Bank, three significant crypto-backing institutions, caused the stablecoin USDC to drop from its $1 […]
How to Cash Out Bitcoin
Whether you’re looking to sell a small or a large amount, there are several ways to cash out your Bitcoin. Choosing the right method can affect profitability. It’s also important to consider the tax implications of selling your crypto. This can be especially important if you’re in the United States. Because crypto is considered property, […]
Binance CEO says 127K BTC move is PoR audit procedure
The CEO of cryptocurrency exchange Binance has stated that significant sums of cryptocurrency are being moved as part of its proof-of-reserve (PoR) audits. On November 28, according to a tip from Whale Alert , Binance transmitted 127,351 Bitcoin, or more than $2 billion, to an unidentified wallet. On-chain data shows that the transaction took place […]