A US judge has ruled in favor of Kalshi, allowing the platform to offer derivatives for betting on the upcoming US election. The regulator's order was overturned, marking a significant win for Kalshi. Variant Fund's Jake Chervinsky emphasized the importance of challenging regulatory overreach through lawsuits. Judge Jia Cobb of the US District Court ruled in favor of Kalshi, enabling bets on the election outcome. Kalshi's CEO hailed the decision as a milestone, while others like Nick Tomaino praised the opportunity for greater civic engagement. The CFTC may appeal the ruling. In related news, Gemini urged the CFTC to reconsider a proposed ban on event contracts in decentralized prediction markets. This legal development signifies a shift in the US regulatory landscape regarding election betting and cryptocurrency predictions. Read more AI-generated news on: https://app.chaingpt.org/news

A Bitcoin DeFi developer predicts that the capital invested in Bitcoin-based DeFi protocols may surpass that of Ethereum in the next two years. Branden Sedo, a contributor at Bitcoin sidechain Core DAO, believes that the trillion dollars currently held in the Bitcoin ecosystem will gradually move on-chain, potentially exceeding Ethereum's capital. Sedo highlights the potential influx of institutional capital into Bitcoin through exchange-traded products, leading to increased adoption of Bitcoin sidechains and DeFi applications. Despite initial skepticism following platform collapses in 2022, Sedo notes a shift in Bitcoiners' attitudes towards utilizing their assets in non-custodial DeFi platforms. Core DAO's staking approach and bridge technology have contributed to its success, making it the largest Bitcoin sidechain with significant Total Value Locked (TVL). The growing interest in Bitcoin DeFi signals a promising future for the network's expansion and development. Read more AI-generated news on: https://app.chaingpt.org/news

Global payment giant Mastercard is broadening its backing for non-custodial cryptocurrency wallets through a new partnership that empowers users to utilize crypto while maintaining control over their funds. Following a successful trial of a crypto debit card with MetaMask in August, Mastercard's latest collaboration with Mercuryo, a European crypto payments infrastructure provider, aims to bridge the gap between traditional finance and crypto. The partnership introduces a new euro-denominated debit card that allows users to spend cryptocurrencies like Bitcoin from self-custodial wallets at over 100 million merchants in the Mastercard network. Self-custody is a fundamental principle of cryptocurrency, offering a way to store assets without relying on centralized entities. Mastercard's commitment to supporting self-custodial wallets is reinforced by its collaboration with Mercuryo, as stated by Christian Rau, Mastercard's senior vice president of crypto and fintech enablement. Read more AI-generated news on: https://app.chaingpt.org/news

Bitcoin mining companies are exploring the shift to data centers for increased revenue, sparking concerns about the feasibility of this move. Phil Harvey, CEO of Sabre56, a blockchain data center consulting firm, debunked the notion that transitioning to high-performance computing is cost-effective. He highlighted the significant cost disparity, with AI data centers costing 10-15 times more to run compared to crypto mining facilities. Harvey emphasized the space and infrastructure challenges involved in converting mining operations to data centers, noting the substantial upfront costs. The decreased block subsidy in April has pushed mining companies to seek alternative revenue streams, with some considering AI data processing. VanEck projected significant revenue potential for mining companies embracing data center strategies. This potential shift raises concerns about energy allocation between AI and crypto mining industries, with implications for the future of Bitcoin mining. Read more AI-generated news on: https://app.chaingpt.org/news

A ban on X in Brazil has sparked a legal battle, with prominent figures like Jack Dorsey endorsing VPN use to access the platform. Despite conflicting reports, lawyers confirm that using VPNs to bypass the ban can result in fines. The situation presents a legal contradiction as VPN use is generally legal in Brazil. While enforcement of the ban remains challenging, some VPN providers believe tracking violations is possible through analyzing user activity. Elon Musk and others have criticized the ban, with Musk calling for the impeachment of the judge behind the decision. The ban has led to a surge in users on alternative platforms like Bluesky. The legal battle continues as Brazil grapples with the implications of banning X and enforcing the restrictions. Read more AI-generated news on: https://app.chaingpt.org/news

Zurich Cantonal Bank, one of Switzerland's largest banks, has introduced cryptocurrency trading for its customers. The bank now offers Bitcoin (BTC) and Ether (ETH) trading and custody services, seamlessly integrated into existing channels. Zurich Cantonal Bank, also known as Zürcher Kantonalbank (ZKB), is the country's largest cantonal bank with assets totaling $235 billion. Customers can trade cryptocurrencies 24/7 through ZKB eBanking or ZKB Mobile Banking platforms, with holdings displayed in the portfolio view. The bank's head of institutional clients, Alexandra Scriba, highlighted the security and flexibility of the new offering. ZKB's crypto custody and trading solution is available to individuals and third-party banks, with Thurgauer Kantonalbank being the first partner bank to utilize the B2B service. The bank has been actively involved in the blockchain and cryptocurrency industry, including issuing digital bonds on the SIX Digital Exchange. Read more AI-generated news on: https://app.chaingpt.org/news

Bitcoin (BTC) approached monthly lows on Sept. 4 due to the reaction of crypto markets to a tech stock rout in the United States. The price of BTC/USD on Bitstamp dropped to $55,602, the lowest since Aug. 8, after a 40% recovery from the August crash. This time, the decline was triggered by a US subpoena affecting tech giant Nvidia, causing a ripple effect on risk assets like gold. The Nikkei 225 also experienced losses, impacting Bitcoin and altcoins. Traders observed a candle wick filling exercise with short-term targets around $51,500. The market showed signs of increased volatility, prompting caution among investors. The article emphasizes the importance of conducting thorough research before making any investment decisions. Read more AI-generated news on: https://app.chaingpt.org/news

Mark Karpeles, the ex-CEO of the now-defunct Mt. Gox cryptocurrency exchange, is set to introduce a new crypto platform named EllipX in September. Initially targeting European users from its base in Poland, the exchange plans to eventually expand globally. While starting with crypto services, EllipX may later incorporate banking and fiat options. The platform aims to adhere to the EU's Markets in Crypto-Assets Regulation (MiCA) and ensure transparency through regular third-party audits. Karpeles highlighted the enhanced security and technology surrounding Bitcoin, enabling secure cryptocurrency storage. To rebuild trust and compensate Mt. Gox hack victims, EllipX will offer former users a 50% discount on trading fees. This discount is linked to non-fungible tokens distributed by Karpeles a few years ago, with only a small fraction of affected users having claimed them. Despite facing challenges post-hack, Karpeles believes the fee reduction gesture will help reconnect with those who suffered losses during Mt. Gox's collapse in 2014. Read more AI-generated news on: https://app.chaingpt.org/news

The Federal Trade Commission (FTC) in the United States has reported a significant increase in scams involving Bitcoin ATMs since 2020. Fraudsters are taking advantage of the anonymity and speed of cryptocurrency transactions to deceive victims into transferring funds through Bitcoin ATMs under false pretenses. Losses from these scams surpassed $110 million in 2023, with individuals aged 60 and above being three times more susceptible. To combat this, the FTC emphasized that no legitimate entity would demand payment in BTC or other cryptocurrencies via a Bitcoin ATM. Bitcoin Depot, in response to the warning, has implemented measures such as posting scam alerts on their kiosks and providing prompts to warn customers about potential scams. They advise consumers to avoid sending cryptocurrencies to unknown wallets or individuals and to verify transaction legitimacy. Efforts are also being made at the local government level in Chico, California, to regulate Bitcoin ATMs more rigorously, treating them akin to banks. Read more AI-generated news on: https://app.chaingpt.org/news

In a surprising turn of events, a group of home invaders utilized a machete and a Toblerone chocolate bar as weapons during a robbery to steal Bitcoin from a crypto enthusiast. The attackers targeted the victim specifically for his cryptocurrency holdings, highlighting the risks associated with physical attacks aimed at acquiring digital assets. This incident underscores the challenges in preventing crypto-related crimes as the value of digital assets increases, attracting more attention from criminals. The robbery, which involved the use of unconventional weapons, emphasizes the need for enhanced security measures to protect cryptocurrency holders. As crypto-related crimes become more frequent, individuals must prioritize both digital and physical security measures to safeguard their assets and personal safety. The incident serves as a reminder of the growing trend of crimes targeting cryptocurrencies and the importance of vigilance and preparedness in the digital age. Read more AI-generated news on: https://app.chaingpt.org/news

The number of Bitcoin (BTC) whale transactions worth $100,000+ has dropped by 48% since March 2024, coinciding with a 20% decrease in Bitcoin's price. Santiment data reveals a decrease in whale transactions to 60.2K from a high of 115.1K in August. Despite this, long-term accumulation by whale addresses remains high. Intotheblock data shows addresses holding 1,000-10,000 BTC hold 24.17% of the total supply. The supply held by whales peaked in January 2021 at 30% but has since dropped to 24.17%. The average supply per whale is around 550 BTC. The accumulation heatmap suggests strong buyer support at $52,000, with a 42% price rally in Q1 2024. The $51.5K to $52.3K range may act as a support zone in future corrections. Bitcoin currently faces resistance from the 200-day EMA. Read more AI-generated news on: https://app.chaingpt.org/news

Bitcoin's price has fallen by 6.5% in the past week, following a downward trend on Sept. 3 alongside drops in the DOW, S&P 500, and Nasdaq Composite. The Bank of Japan's statements have sparked recession fears, impacting global markets. The yen strengthened against the US dollar after the BoJ hinted at interest rate hikes, causing Bitcoin to lose $1,700 in two hours on Sept. 3. Retail demand for Bitcoin has dwindled, with Google search interest hitting a 12-month low in August. Despite remaining range-bound between $50,000 and $70,000, Bitcoin is considered fairly valued based on economic fundamentals. VanEck predicts Bitcoin could reach $2.9 million by 2050. This article does not offer investment advice, emphasizing the importance of conducting personal research before making financial decisions. Read more AI-generated news on: https://app.chaingpt.org/news

Riot Platforms, the largest shareholder of Bitfarms, has issued an open letter to Bitfarms’ shareholders, urging for further modifications to the board of directors. The shareholders meeting is set for Oct. 29, where Riot will advocate for governance enhancements and increased value for all stakeholders. Bitfarms, a Canadian publicly traded company specializing in cryptocurrency, particularly Bitcoin mining, has seen recent board changes, including the resignation of co-founders Emiliano Grodzki and Nicolas Bonta. Riot proposes the election of two independent directors, Amy Freedman and John Delaney, to replace current board members. Riot cautions Bitfarms against actions that could solidify the existing board before the meeting, emphasizing the importance of shareholder input. The letter warns of consequences if the board takes steps to entrench itself. Bitfarms recently appointed CEO Ben Gagnon to the board amidst Riot's takeover attempt, following Bonta's resignation. Riot's letter stresses the need for fair shareholder representation and accountability in board decisions. Read more AI-generated news on: https://app.chaingpt.org/news

21.co, the parent company of 21Shares, is introducing its own Bitcoin wrapper, 21.co Wrapped Bitcoin (21BTC), on the Ethereum network. This expansion includes wrapped tokens like Avalanche, Polkadot, and Solana. The BTC wrapper aims to apply strict asset management practices to wrapped assets, with features such as institutional-grade custodians and security protocols. User protections include cold storage and regulated third-party custodians, with market maker Flow Trader managing 21BTC issuance. This move comes amidst controversy surrounding rival BTC wrapper wBTC, as BitGo's partnership with BiT Global raises concerns. 21.co, known for its subsidiary 21Shares, offers ETFs like ARK 21Shares Bitcoin ETF and 21Shares Core Ethereum ETF. Wrapped BTC enhances liquidity and interoperability across blockchain networks, facilitating various financial activities. Overall, 21.co's initiative aims to provide a secure and efficient platform for cryptocurrency trading and investment. Read more AI-generated news on: https://app.chaingpt.org/news

Scottish authorities have converted 23.5 Bitcoin seized from a 2020 robbery into cash. The incident involved three men armed with a machete and a Toblerone chocolate bar breaking into a home near Glasgow. This marked Scotland's first robbery involving stolen cryptocurrency tracing. Prosecutors utilized proceeds of crime legislation to convert the stolen Bitcoin into cash, amounting to $144,017. The robbery victim testified that he was forced to transfer Bitcoin after being threatened with a machete. The individual convicted of possessing the stolen Bitcoin, John Ross Rennie, received a sentence of 150 hours of unpaid work and a six-month supervision order. The court determined the conversion amount based on Bitcoin's value at the time of the robbery, which has since increased significantly. Source: Cointelegraph Markets Pro Read more AI-generated news on: https://app.chaingpt.org/news

Bitcoin miners have experienced a significant drop in mining revenues following the April halving event, reaching a 12-month low in August 2024. Data from Bitbo reveals that monthly BTC mining revenues plummeted to around $827 million, the lowest since September 2023 and a stark contrast to the pre-halving peak of nearly $2 billion in March 2024. The halving event, which occurs approximately every four years, slashes the number of BTC mined per block in half. Consequently, monthly mined BTC has steadily decreased after each halving, emphasizing the challenges faced by miners. To combat this trend, some miners are diversifying their business models by investing in AI applications or upgrading equipment for improved efficiency. These strategic moves aim to mitigate the impact of reduced mining rewards and ensure long-term profitability in the evolving Bitcoin mining landscape. Read more AI-generated news on: https://app.chaingpt.org/news

Metaplanet announced a collaboration with SBI VC Trade on Sept. 2 to strengthen its Bitcoin strategy with support from Japanese firms. The partnership includes trading, custody, and management of Metaplanet's Bitcoins. As a publicly-traded company on the Tokyo Stock Exchange, the alliance with SBI's crypto arm aims to ensure compliance. This includes access to a compliant corporate custody service for tax efficiency and using Bitcoin as collateral for financing. The partnership aligns with Metaplanet's goal of becoming a leading financial services firm and enhances its corporate strategy to accumulate more BTC through equity and debt financing. Metaplanet's increasing focus on Bitcoin as a core treasury asset mirrors MicroStrategy's approach, with the company already acquiring 360 BTC. The collaboration with SBI VC Trade signifies a significant step in Metaplanet's journey towards expanding its Bitcoin holdings and financial services offerings. Read more AI-generated news on: https://app.chaingpt.org/news

The Supreme Court of British Columbia has ruled that defendant Daniel Tambosso must repay $1.2 million to plaintiff Hung Nguyen, settling a dispute over a 22 Bitcoin loan. Nguyen loaned Tambosso 18 Bitcoin initially, with an additional 4 BTC later requested. The court demanded repayment of the full 22 Bitcoin, regardless of the success of Tambosso's initiative. This case highlights the increasing acceptance of cryptocurrencies in legal matters. Recent court decisions, such as the US Supreme Court ruling in favor of Coinbase, demonstrate a shift towards recognizing and regulating crypto assets. Despite this, authorities worldwide maintain strict oversight over crypto exchanges to protect investors. For example, the US federal court denied Kraken's motion to dismiss an SEC lawsuit. In Hong Kong, operating an unlicensed virtual asset trading platform is now a criminal offense, prompting exchanges to seek full licenses. Read more AI-generated news on: https://app.chaingpt.org/news

A crypto analyst suggests that the Puell Multiple index, a popular Bitcoin indicator used to assess miner selling activity, is nearing a level that indicates a favorable buying opportunity for Bitcoin. The index fluctuates between critical levels, with a drop below 0.6 historically signaling a good buying chance. The range between 0.6 and 0.8 is termed the 'Decision Zone,' where data dating back to 2014 shows that going below 0.6 often presents an ideal opportunity for Bitcoin dollar-cost averaging strategies. The Puell Multiple is utilized by traders to gauge miner revenues, with a high score indicating low sell pressure and vice versa. Currently at 0.69, the index is seen as a promising buying opportunity. Despite differing opinions on when Bitcoin may break out of its current range, analysts like Moustache and Rekt Capital see the current situation as a favorable time to accumulate before the next price wave. Read more AI-generated news on: https://app.chaingpt.org/news

Recent data reveals that a significant portion of Bitcoin holders, known as diamond hands, have maintained their positions for over five years without moving their coins. The Unspent Transaction Outputs (UTXOs) that have remained untouched for more than five years represent the holdings of long-term holders (LTHs). These LTHs are considered the steadfast side of the market, with a notable 30.7% of the total Bitcoin supply falling into this category. While some of these coins may have been lost or inaccessible, the majority showcase unwavering conviction. Despite minor fluctuations earlier in the year, the percentage of 5+ year LTH supply has remained relatively stable. This resilience suggests that these investors are unlikely to sell their Bitcoin unless under exceptional circumstances. Despite a recent 4% price drop, Bitcoin continues to hold strong at $58,100. Read more AI-generated news on: https://app.chaingpt.org/news