Bitcoin

Bitcoin is the pioneer of blockchains and cryptocurrencies, introduced in a white paper released in 2008 by an apparently pseudonymous person or group of people known as Satoshi Nakamoto. The document described a peer-to-peer method of transferring money without the use of financial institutions. The cryptocurrency known as bitcoin or BTC debuted in 2009. Transactions are recorded on a public ledger (a blockchain) by entities known as miners who engage in process called proof-of-work. Miners are rewarded for doing that by getting newly minted bitcoin. Some proponents view BTC as an alternative to fiat currencies and a hedge against inflation. Bitcoin has inspired the creation of numerous other cryptocurrencies and blockchain projects.

DISCLOSURE: This text was written with the assistance of AI, then reviewed by a person



Policy

South African Mirror Trading's CEO Fined $3.4B by U.S. in Bitcoin Forex Fraud Case

The founder of bitcoin pool operator MTI was charged with fraud last year for running an unlicensed commodity pool scheme.

(Jesse Hamilton/CoinDesk)

Markets

First Mover Asia: Bitcoin Holds Steady Above $29K as Investors Look Toward Next FOMC Meeting

ALSO: William Shatner, "Star Trek" star, releases an NFT collection and touts the potential of crypto in an entertaining half-hour discussion at CoinDesk's Consensus 2023 conference.

(Filippo Andolfatto/Unsplash)

Markets

Bitcoin Circles Above $29.5K as Investors Weigh Sluggish GDP, Latest Banking Woes

BTC dipped slightly during U.S. morning trading Thursday on the Commerce Department reporting a tepid gain in GDP for the first quarter and disappointing personal consumption data, before rebounding.

Bitcoin price chart (CoinDesk)

Finance

Russian Bitcoin Wallets Allegedly Exposed by Apparent Hacker

A mysterious bitcoiner used the OP_RETURN field to call out wallets controlled by FSB and GRU.

Chainalysis CEO Michael Gronager (Danny Nelson/CoinDesk)

Markets

First Mover Americas: Lots of Bitcoin Futures Traders Cash Out

The latest price moves in crypto markets in context for April 27, 2023.

Brevan Howard Digital was among the backers for Puffer's $5.5 million round. (Pixabay)

Markets

Bitcoin's Negative Correlation With Dollar Index Strengthens Ahead of U.S. GDP Data

The 90-day correlation coefficient between bitcoin and the dollar index has slipped to -0.70 from -0.11 four weeks ago.

La correlación negativa de bitcoin con el dólar estadounidense se ha fortalecido tras una breve pausa a fines de marzo. (Markus Winkler/Unsplash)

Markets

Bitcoin Market Impact From Mt. Gox Repayments Will Be Limited: Matrixport

Not all the stolen bitcoin was recovered, so only a fraction of the original amount held by creditors will be compensated, the report said.

Computer Hacking Hackers (Shutterstock)

Markets

Bitcoin's 'Estimated Leverage Ratio' Hits Lowest Point Since December 2021

The estimated ratio indicates how much leverage is used by traders on average, according to CryptoQuant.

(AhmadArdity/Pixabay)

Markets

Bitcoin Volatility Hits Longs and Shorts as $175M Liquidated, $1B in Open Interest Wiped

Few leveraged futures traders were safe as bitcoin’s price movements impacted both longs and shorts.

(Unsplash)

Markets

First Mover Asia: Bitcoin Seesaws Wildly Before Settling Above $29K

ALSO: Writing about different sessions at Consensus 2023, CoinDesk columnist Daniel Kuhn considers the difficulty that the builders of decentralized finance (DeFi) and financial regulators are having in finding linguistic common ground.

Financialization means big directional bets and lots of leverage, propped up by a hype campaign. In crypto, those bets are often followed by a hard landing. (Creative Commons)

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