Cryptonews

The great and powerful Bitcoin (BTC), that behemoth of the cryptocurrency world, had stumbled, its price plummeting to the depths of $116k, a far cry from its lofty peak of $123k 📉. And yet, TRX, that plucky underdog, shed a mere 1% of its value, a trifling loss compared to the carnage that surrounded it. Solana (SOL) and XRP (XRP), those erstwhile darlings of the market, had fared far worse, their prices dipping by more than 3% as they desperately clung to their gains 🤯.

And what of the project’s coffers, you ask? Why, they are nearly brimming with the sum of $819,711, a mere stone’s throw from the $820,000 mark. A veritable treasure trove, if I do say so myself! 🗝️

All key indicators are pointing towards continued weakness in the coin’s price action, making it vulnerable to further losses. 📉

But wait, there’s more! Clients can now choose from multiple custodial options, including the in-house solution of Standard Chartered and the affiliated provider Zodia Custody. It’s like having a buffet of choices, but instead of food, it’s where you want to keep your digital treasures. 🍽️💎

The minds behind CoinDesk’s mere scribble of a model have noted a 9% rise in open interest, a clear proclamation of succulent conviction among market players yearning for the meme-token’s ascendant narrative.

This guidance, while not introducing new rules, reinforces the necessity for banks to utilize existing risk management frameworks and compliance protocols when handling digital assets on behalf of their customers. 🤓

The Bitcoin (BTC) treasury model trend was ignited by Michael Saylor’s Bitcoin plan, with Strategy pioneering the use of Bitcoin as a corporate reserve asset in 2020. What began as a hedge against inflation evolved into a financial playbook adopted by a new class of Bitcoin holding companies, some structured to resemble quasi-exchange-traded funds (ETFs).

Although there’s a growing need for more infrastructure due to increasing energy consumption, our current infrastructure is struggling to catch up. In 2024, U.S. data centers consumed around 200 terawatt-hours of electricity, which is equivalent to powering Thailand for an entire year. By 2028, AI power usage is projected to range between 165 and 326 terawatt-hours annually, which could power approximately one-fifth of U.S. households. The growing demands placed on energy and compute systems by AI workloads are pushing them beyond their limits, making it difficult for our power grid to expand even slightly to meet the rising demand.

Roxom, those San Francisco scallywags, claim their exchange will “reflect the Bitcoin white paper’s original vision of a global, permissionless store of value.” How frightfully noble of them, don’t you agree, dear? 🙏

Believe it or not, this EU regulatory package has been in effect for almost 200 days, and guess what? A bunch of prominent exchanges have decided to set up shop in Europe. It’s like a crypto renaissance! 🌱