The year-to-date record trading volume coincided with a new all-time high in daily inflows for the spot Bitcoin exchange-traded funds (ETFs). The 10 U.S. spot Bitcoin ETFs set a record $10 billion in daily trading volume on March 5, beating last week’s $7.7 billion record.
“These are bananas numbers for ETFs under [two months] old,” Bloomberg ETF analyst Eric Balchunas said in a March 5 X post reporting the figures.
In 2013, Vitalik Buterin introduced the Ethereum network through a white paper, positioning it as a versatile platform for developing DApps. Buterin outlined how blockchain technology could serve purposes beyond just monetary transactions.
In January 2014, Ethereum co-founders Gavin Wood, Charles Hoskinson and Anthony Di Iorio unveiled Ethereum at the North American Bitcoin Conference in Miami with Buterin.
Traditional streaming and content distribution models often leave creators in the dark regarding the performance of their work, with limited insights into viewership data and audience engagement. Centralized platforms’ opacity can hinder content creators’ ability to tailor their offerings to their audience’s preferences and foster a loyal community of viewers.
On March 19, Anatoly Yakovenko, co-founder of Solana, warned investors to “stop doing this” amid the ongoing Solana memecoin presale craze. More than 19,000 new Solana tokens with some form of liquidity have launched in the past week alone, according to trading data platform Birdeye. Since then, experts have warned that the odds of a rug pull are far higher than the chances of one’s tokens going to the moon.
In addition to the complexities of fiat-to-crypto conversions, these transactions also suffer from low approval rates, with a staggering 50% failure rate across the industry. Whereas Topper, leveraging the infrastructure of Uphold, is able to offer approval rates exceeding 60%. Altogether, these inconveniences can deter new users from fully embracing the advantages of the crypto world, underscoring the need for more streamlined and user-friendly onboarding processes.
The district court dismissed the lawsuit, citing the investors' claims as being untimely according to the relevant statutes of limitations.
However, the appeals court agrees with the plaintiffs claims that Binance is subject to domestic securities laws and their initial filing was timely.
This comes as Binance continues to grapple with ongoing legal challenges from the U.S. securities regulator.
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GGC then loaned those same assets to its own counterparties, where Earn customers received interest payments. However, GGC went bankrupt in January 2023 and defaulted on approximately $1 billion worth of loans made by Earn customers.
“Gemini failed to conduct due diligence on an unregulated third party, later accused of massive fraud, harming Earn customers who were suddenly unable to access their assets after Genesis Global Capital experienced a financial meltdown,”.
Cryptocurrency exchange Gemini and New York State Department of Financial Services (NYDFS) have reached a settlement that will see Gemini return at least $1.1 billion to customers of the Gemini Earn Program through the Genesis bankruptcy proceeding.
It’s retraced to as low as $60,000 but slightly recovered to trade above $62,000 at the time of publication, according to Cointelegraph Markets Pro.
Meanwhile, GBTC saw $216.4 million in net outflows on Feb. 28, according to preliminary Farside Investors data.
Balchunas added market makers told him the volume is largely “natural demand” versus algorithmic or arbitrage trading volume as he’d previously speculated.
The record-setting volume day comes as Bitcoin rallied over 10% to an over two-year high of $64,000.