European Central Bank (ECB) officials stand firm on their assessment that Bitcoin holds no inherent value, despite its recent surge beyond $50,000 propelled by the introduction of multiple exchange-traded funds (ETFs) in the United States. In a blog post dated Feb. 22, Ulrich Bindseil and Jürgen Schaaf emphasized that approving…

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Quick Take On-chain metrics grant an insightful glimpse into the health of the Bitcoin network. These indicators, namely new and active addresses and transaction counts, are barometers of the demand for Bitcoin’s blockspace. However, their daily fluctuations present an analytical challenge. A more efficient approach is to compare monthly averages…

Quick Take With Bitcoin price holding steady over the $50,000 mark for more than a week, intriguing patterns are emerging regarding Bitcoin accumulation. CryptoSlate’s recent data analysis highlights that approximately 111k BTC have been amassed by various cohorts over the past 30-day period. Some cohorts have been in a distribution…

Coinbase has endorsed Grayscale’s bid to convert its Ethereum (ETH) Trust into an exchange-traded fund (ETF) in a Feb. 21 letter addressed to the Securities and Exchange Commission (SEC). Coinbase’s chief legal officer, Paul Grewal, said the exchange’s letter provided the legal, technical, and economic arguments supporting spot Ethereum funds’…

Sam Bankman-Fried, the embattled founder of the now-defunct crypto exchange FTX, has replaced his legal team as he approaches the critical sentencing phase of his trial. The change in legal representation was formalized in a court appearance on Feb. 21, the first since Bankman-Fried’s conviction. The move comes as the former…

Nvidia reported increased demand for generative artificial intelligence (AI) and accelerated computing in its latest earnings report on Feb. 21. Jensen Huang, founder and CEO of Nvidia, said: “Accelerated computing and generative AI have hit the tipping point. Demand is surging worldwide across companies, industries and nations.” Huang added that…

The potential approval of spot Ethereum (ETH) exchange-traded funds (ETFs) in the US, which includes plans for staking, might amplify concentration risks within the Ethereum network, S&P Global Ratings highlighted in a recent analysis. According to the report, the SEC could approve ETH ETFs as early as May. However, as financial…

A key member of the US Securities and Exchange Commission’s (SEC) legal team, Ladan Stewart,  stepped down from her role at the agency to join a pro-crypto law firm, Bloomberg Law reported on Feb. 21. Stewart, who served as Regional Trial Counsel in the SEC’s Crypto Assets and Cyber Unit…

Montenegro’s High Court has decided to extradite former crypto magnate Do Kwon to the US instead of his home country, South Korea, local media reported on Feb. 21. The decision marks a pivotal turn in the international legal saga surrounding Kwon, the founder of Terraform Labs, who faces charges related…