Despite an eight-day streak of positive net inflows, U.S. spot bitcoin exchange-traded funds logged a red candle for the month of August, logging a total net outflow of about $94 million. That sum is well within the bounds of a single good or bad day though, according to data from SoSoValue. Spot bitcoin ETFs netted over $250 million on Aug. 23, the best day for the funds this month, while the funds lost $237 million on their worst day, Aug. 2.
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Throughout the FTX bankruptcy, many different avenues have been explored or proposed to maximize creditor recovery, from relaunching the FTX exchange in order to make money back for creditors to distributing claims as tokens in a new venture that can be traded. Some decentralized marketplaces such as Found.xyz and Figure Markets even launched support for tokenized FTX claims trading this summer, in a move that one crypto CEO called "one of the most crypto things" he's ever seen.
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Trading volumes on centralized cryptocurrency exchanges increased in August, extending the growth that began in July after hitting a multi-month low in June. The Block's Data Dashboard reveals that monthly spot market volumes across global cryptocurrency exchanges, including Binance and Coinbase, reached $1.2 trillion in August, up from $1.12 trillion in July—a 6.6% increase. Binance captured the largest market share in August, with a trading volume of $448.45 billion.
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Blockchain security firm CertiK reported that crypto projects were exploited for a total of $310 million in August, the second-highest monthly total this year. The firm noted that $10.3 million of the stolen assets were recovered or returned, reducing the net loss to $300.6 million.
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WazirX has begun the second phase of its fiat currency withdrawal process ahead of schedule on Sept. 3. The process was originally slated to begin on Sept. 9 and comes as the exchange faces the aftermath of a major security breach that resulted in the theft of over $230 million in user assets. CEO Nishal Shetty shared the update on social media and said the exchange is continuing to do all it can to restore access to customer funds.
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Farside data shows that Bitcoin ETFs experienced a significant outflow of $287.8 million on Sept. 3, marking the largest outflow since May 1, when $563.7 million exited the market. Eight ETF issuers recorded outflows, highlighting a broad retreat from Bitcoin ETF investments. Among the hardest hit was Fidelity’s FBTC, which saw a $162.3 million outflow, and Grayscale’s GBTC, with $50.4 million leaving the fund. Bitwise’s BITB ETF lost $25.0 million, while ARK’s ARKB ETF experienced a $33.6 million outflow.
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🇳🇬 Nigerian court defers bail for ailing Binance executive to October
A Nigerian court has postponed the decision on the bail application for detained Binance executive Tigran Gambaryan until Oct. 9. Judge Emeka Nwite issued the ruling on Sept. 4 after hearing arguments from both Gambaryan’s lawyer, Mark Mordi, and the prosecuting counsel, Ekele Iheanacho, who opposed the bail request.
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A Nigerian court has postponed the decision on the bail application for detained Binance executive Tigran Gambaryan until Oct. 9. Judge Emeka Nwite issued the ruling on Sept. 4 after hearing arguments from both Gambaryan’s lawyer, Mark Mordi, and the prosecuting counsel, Ekele Iheanacho, who opposed the bail request.
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Ether has underperformed bitcoin by as much as 44% since the Ethereum blockchain's 'merge' to proof-of-stake almost two years ago, according to analysts. "Next week will mark two years since Ethereum switched to a proof-of-stake network, an upgrade known as The Merge. Since then, Ethereum has underperformed bitcoin by 44%," CryptoQuant analysts said.
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🇷🇺 Chainalysis says Russia’s crypto infrastructure aims to skirt Western sanctions
According to blockchain analytics provider Chainalysis, the Central Bank of Russia (CBR) is spearheading efforts to develop financial infrastructure that will enable the country to use cryptocurrencies for international trade and circumvent Western sanctions. Friday's Chainalysis policy and regulation report highlighted recent legislation passed by the Russian parliament that legalizes cryptocurrency mining and allows the use of cryptocurrencies for international payments.
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According to blockchain analytics provider Chainalysis, the Central Bank of Russia (CBR) is spearheading efforts to develop financial infrastructure that will enable the country to use cryptocurrencies for international trade and circumvent Western sanctions. Friday's Chainalysis policy and regulation report highlighted recent legislation passed by the Russian parliament that legalizes cryptocurrency mining and allows the use of cryptocurrencies for international payments.
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🇷🇺 Russia to Prioritize Supplying Energy for Social Development Over Bitcoin Mining
Russia will prioritize using its energy for social development instead of Bitcoin mining, according to the Ministry of Energy. Energy Minister Sergei Tsivilev stressed that if there is a surplus in certain areas, this power can be supplied to legal and registered energy miners operating outside the “gray” zone.
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Russia will prioritize using its energy for social development instead of Bitcoin mining, according to the Ministry of Energy. Energy Minister Sergei Tsivilev stressed that if there is a surplus in certain areas, this power can be supplied to legal and registered energy miners operating outside the “gray” zone.
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After a bearish week for the prices of many crypto tokens—only three of the top 50 tokens by market cap gained on the week, as per The Block's price page—the value of U.S.-based spot bitcoin and spot Ethereum exchange-traded funds have hit new multi-month lows. On Friday, U.S. spot Bitcoin ETFs logged nearly $170 million worth of outflows, bringing the total cumulative value of the 12 funds on the market to $48.24 billion.
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Bitcoin and ether remain under key price levels after sliding down over the weekend following Friday's bearish U.S. economic data. The largest cryptocurrency trades at $54,744 when writing, gaining 0.64% in the past 24 hours. Ether (ETH) added 0.17% to change hands at around $2,291, according to The Block’s crypto price page.
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🇺🇸 Record $4.68 billion fines mark SEC’s toughest year on crypto
The US Securities and Exchange Commission (SEC) imposed $4.68 billion in fines against crypto companies in 2024, marking the most aggressive regulatory year in the agency’s history, according to a report by Social Capital Markets. This brings the total fines levied by the regulator since 2013 to $7.42 billion, with 2024 accounting for 63% of the total. The steep rise reflects the SEC’s intensified scrutiny of the crypto sector as it seeks to enforce securities regulations in the growing digital asset market.
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The US Securities and Exchange Commission (SEC) imposed $4.68 billion in fines against crypto companies in 2024, marking the most aggressive regulatory year in the agency’s history, according to a report by Social Capital Markets. This brings the total fines levied by the regulator since 2013 to $7.42 billion, with 2024 accounting for 63% of the total. The steep rise reflects the SEC’s intensified scrutiny of the crypto sector as it seeks to enforce securities regulations in the growing digital asset market.
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🚨 Indodax hit by $20.5M exploit, North Korea link suspected
Indonesian crypto exchange Indodax has reportedly suffered a $20.5 million exploit, according to blockchain security firm Cyvers. The losses were spread across multiple chains, including a $1.4 million loss in Bitcoin and a $5 million theft on the TRON and Polygon networks. Other impacted blockchains were Optimism and Ethereum, which had over $14 million in losses.
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Indonesian crypto exchange Indodax has reportedly suffered a $20.5 million exploit, according to blockchain security firm Cyvers. The losses were spread across multiple chains, including a $1.4 million loss in Bitcoin and a $5 million theft on the TRON and Polygon networks. Other impacted blockchains were Optimism and Ethereum, which had over $14 million in losses.
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🛢 China verliert als Nachfrage-Motor an Bedeutung am Ölmarkt
Zum ersten Mal seit zwei Jahrzehnten ist China nicht mehr der treibende Faktor hinter der globalen Rohölnachfrage. Auf der APPEC-Konferenz in Singapur herrscht Unsicherheit, da Chinas Wirtschaft schwächelt, der Immobilienmarkt kriselt und die Energiewende voranschreitet.
Mit einem erwarteten Ölnachfragewachstum von nur 200.000 Barrel pro Tag in diesem Jahr und maximal 300.000 Barrel täglich bis 2025 wird deutlich, dass China nicht mehr der Gigant ist, der es einst für den Ölmarkt war.
✈️ @KryptoDeutsch ✈️
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Zum ersten Mal seit zwei Jahrzehnten ist China nicht mehr der treibende Faktor hinter der globalen Rohölnachfrage. Auf der APPEC-Konferenz in Singapur herrscht Unsicherheit, da Chinas Wirtschaft schwächelt, der Immobilienmarkt kriselt und die Energiewende voranschreitet.
Mit einem erwarteten Ölnachfragewachstum von nur 200.000 Barrel pro Tag in diesem Jahr und maximal 300.000 Barrel täglich bis 2025 wird deutlich, dass China nicht mehr der Gigant ist, der es einst für den Ölmarkt war.
#1 Krypto Kanal
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PayPal und Venmo unterstützen jetzt den Ethereum Name Service (ENS), wodurch US-Benutzer Krypto mithilfe von ENS-Namen anstelle von Wallet-Adressen senden können.
✈️ @KryptoDeutsch ✈️
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#1 Krypto Kanal
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Grayscale gründet den ersten US-amerikanischen XRP-Trust, der akkreditierten Anlegern einen direkten Zugang zu XRP ermöglicht. Obwohl es sich von einem ETF unterscheidet, könnte der Trust nach der erfolgreichen Einführung von Bitcoin- und Ethereum-ETFs durch Grayscale möglicherweise mit Genehmigung der SEC in einen solchen umgewandelt werden.
✈️ @KryptoDeutsch ✈️
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#1 Krypto Kanal
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