NFT News by Thebittimes.Com

Though some experts, analysts, and marketers have been rhetorically placing gold and Bitcoin (BTC) in the same category for years, they have seemingly diverged in significant ways in 2024.  Indeed, while gold has been rising at an incredible pace as economic and geopolitical concerns mount, BTC’s trading is more risk-off, with the most striking example coming at the height of the Israel-Iran war scare when fears seemingly outweighed the optimism stemming from the halving event. Despite the world’s premier cryptocurrency seeing its highest month-end price s on record in March, Bloomberg’s Senior Commodity Strategist Mike McGlone opined in a recent X post that gold has a substantial upper hand compared to Bitcoin – and, indeed, compared to the S&P 500. Picks for you Tokenized real-world assets nears $8 billion in value as demand grows 28 mins ago Why you can't bank on single stock to make you a millionaire  50 mins ago Buy signal for the tw...

The latest financial stability report from the People’s Bank of China reveals a distinct section for crypto - assets . According to the report released on Dec. 22, the strategic inclusion of this section aims to bridge data gaps, alleviate fragmentation, and eradicate regulatory arbitrage while addressing the role of the Financial Stability Board (FSB) in a comprehensive paragraph focusing on the regulation of crypto assets. The report reveals that the cryptocurrency market constitutes 1% of the global financial system, emphasizing its relatively confined association with traditional finance while highlighting several potential risks associated with cryptocurrency regulatory arbitrage, citing concerns about susceptibility to hacker attacks, market manipulation, and defi governance mechanisms. You might also like: China accelerates CBDC pilot with cross-border precious metals transaction Notably, the report highlights specific instances, such as the Terra ecosyst...

Bankrupt cryptocurrency exchange FTX has been given the green light to sell around 32 million shares held in various digital asset trusts as part of its efforts to recover funds. According to a Nov. 29 filing in a Delaware bankruptcy court, crypto exchange FTX has received approval to sell approximately $873 million of trust assets, with the proceeds earmarked for repaying creditors affected by the exchange’s downfall in 2022. “The debtors are authorized, but not directed, to execute sales of the trust asset s, in their reasonable business judgment, in accordance with the following sale procedures,” the filing said. Galaxy, a prominent crypto investment firm, has seen its role expanded in assisting FTX with the asset sales, as per the latest court filings. Earlier this year, FTX had appointed Galaxy to manage its extensive digital asset holdings, a decision that now seems pivotal in the ongoing recovery process. You might also like: FTX token rises sharply...

The National Tax Service (NTS) of South Korea has revealed that 70% of the country’s overseas assets are in cryptocurrency. According to an official statement, the country holds $98 million worth of crypto abroad, as reported by nearly 1,400 individuals and corporations. The NTS said that out of the 186.4 trillion won ($140 million) in assets held by 5,419 entities in foreign financial accounts . The types of holdings included stocks, crypto, deposits, and savings. Of the reported funds, 130.8 trillion won ($98 million) were in crypto. You might also like: South Korean regulators focus on OTC crypto market South Korea’s crypto journey The relationship between South Korea and cryptocurrency has been challenging. The country has experienced ups and downs in its crypto market, with tightening government regulations threatening a potential shutdown at one point. The government’s presidential committee has called for robust crypto regulations to encourage...

The BitKeep team confirmed that some APK package downloads have been hijacked by attackers and installed by users. While many are still enjoying the holiday season, hackers are hard at work, draining around $8 million in an ongoing BitKeep wallet exploit.  On Dec. 26, some users of the multichain crypto wallet BitKeep reported that their funds were being drained and transferred while they were not using their wallets . In their official Telegram group, the BitKeep team confirmed that some APK package downloads have been hijacked by some attackers and have been installed with code that was implanted by hackers. They wrote: “If your funds are stolen, the application you download or update may be an unknown version (unofficial release version) hijacked.” As the hack continues, the BitKeep team urged its users to transfer their funds to a wallet that came from official sources like Google Play and the Apple App Store. Apart from this, the team also asked community members to use newly ...