- Of the cryptocurrencies tracked by CoinMarketCap, the best performer for the week was Dymension, rising 74.28%.
- Bitcoin topped $45,000 for the first time in almost a month with U.S. ETFs holding the digital currency seeing a steady inflow of cash from investors and risk appetite rising across financial markets, writes Bloomberg.
- MicroStrategy returned to profitability in the fourth quarter after registering a tax benefit related to its horde of Bitcoin. Michael Saylor said in a statement that the company posted a net income of $89.1 million compared with a loss of $249.7 million a year earlier, according to Bloomberg.
- Of the cryptocurrencies tracked by CoinMarketCap, the worst performer for the week was Monero, down 27.88%.
- Bitcoin miners are getting a jump on an anticipated decline in revenue from the so-called halving in April, when the blockchain’s network protocol will reduce rewards for verifying transactions by half. Miners’ reserves have dropped by 8,400 tokens since the start of 2024 to 1.8 million, according to Bloomberg.
- Genesis Global Holdco LLC sought bankruptcy court permission to sell all of its shares in three digital asset trusts managed by Grayscale Investments LLC worth $1.6 billion, writes Bloomberg.
- Hong Kong’s government launched a public consultation on legislative proposals to introduce a licensing regime for providers of over-the-counter trading services of virtual assets, according to Bloomberg. The consultation will last for two months until April 12.
- Bitcoin advanced beyond $47,000 and reached a one-month high during the week, supported by signs of steady inflows into spot Bitcoin ETFs, as well as growing attention on the so-called halving happening in April, writes Bloomberg.
- Crypto related stocks rallied in U.S. premarket trading on Friday as Bitcoin climbed back toward $46,000. CleanSpark led the gains in premarket trading, rising 18% after its first quarter results showed revenue and adjusted Ebitda beating estimates, writes Bloomberg.
- The NBA was hit with a lawsuit over its marketing links to failed crypto exchange Voyager Digital Holdings, which investors claim led to $4.2 billion in losses. The NBA was “grossly negligent” in agreeing to a marketing deal with Voyager and Mark Cuban, the former owner of the Dallas Mavericks, the investors alleged in a suit filed Tuesday in Miami, writes Bloomberg.
- The former CEO of a Kansas bank was charged with embezzling $47.1 million from the lender to buy cryptocurrency, as the tale of tiny Heartland Tri-State Bank and its failure unfolds, writes Bloomberg.
- The alleged fraud at Gemini Trust and Barry Silbert’s Digital Currency group was three times bigger than initially thought, the New York attorney general said in a revised civil complaint that now seeks $3 billion in restitution, writes Bloomberg.