Bitcoin Surges Past $48,000
Bitcoin (BTC) has once again surpassed $48,000, continuing its upward trend. As of Sunday, Feb. 11, the world’s largest cryptocurrency was trading at $48,067.30.
Solana Endures 5-Hour Outage
Solana (SOL) experienced a network disruption on Feb. 6, causing investor sentiment to shift. Despite the outage, SOL showed resilience and eventually recovered after five hours.
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MicroStrategy Adds to BTC Holdings
MicroStrategy, owned by Michael Saylor, purchased an additional 850 BTC tokens for $37.2 million last month. The firm now holds 190,000 BTC worth $9.18 billion.
Spot Bitcoin ETF Market Updates
The Financial Supervisory Service of South Korea plans to meet with the U.S. SEC Chairperson to discuss regulations for spot Bitcoin ETF products. Meanwhile, BlackRock’s iShares Bitcoin Trust (IBIT) and Fidelity’s FBTC have seen significant inflows in their first month of launch.
Regulatory Struggles in the US
The U.S. SEC adopted new rules requiring liquidity providers on defi protocols to register if dealing with securities assets over $50 million. Lawmakers sent a letter to the Treasury Secretary expressing concerns about the Howey Test for the crypto industry.
Genesis Settles Lawsuit with NY Attorney General
Genesis reached a settlement with the New York Attorney General regarding customer losses in Gemini’s Earn program. The Attorney General extended the lawsuit to $3 billion.
Global Regulatory Affairs
Binance is facing fines in Uzbekistan for operating without a license. The Securities and Futures Commission of Hong Kong warned consumers about a scam connected to MEXC. The legal case between Craig Wright and the Crypto Open Patent Alliance began, with allegations of forged documents.
