Bitcoin at $97K: A Look Back at Its Remarkable Price Journey
This Friday morning, bitcoin is trading impressively over $97,000. To appreciate how far it's come, let’s take a brief look at its journey through the years.
In 2010, bitcoin’s value was a mere $0.27 per coin, a far cry from today’s staggering price. Fast forward to 2020, and Bitcoin had climbed to around $17,000, signaling its growing acceptance as both an asset and a store of value.
Now, in 2024, bitcoin has solidified its place in financial markets, achieving unprecedented milestones.
Happy Black Friday!
U.S. Court Overturns Sanctions on Tornado Cash, Sparking Crypto Debate
A U.S. federal appeals court has ruled against sanctions on Tornado Cash, declaring its immutable smart contracts cannot be classified as "property" under the International Emergency Economic Powers Act.
The decision reverses a lower court's ruling and finds that the U.S. Treasury's OFAC exceeded its authority, reigniting debates over privacy and regulation in the crypto industry. Concerns flare over the platform's alleged role in laundering over $7 billion, including funds tied to North Korea's Lazarus Group.
This case, once again, underscores the tension between technological innovation and regulatory oversight in the cryptocurrency space.
Border Patrol Holds Bitmain Antminers at Ports Amid Scrutiny Over Huawei Ties
Reported by BlockSpace Media : U.S. Customs and Border Protection (CBP) is holding shipments of Bitmain's Antminer S21 and T21 mining devices at ports, reportedly at the FCC's request.
Delays may stem from concerns over Sophgo chips used in some models, as the chipmaker faces scrutiny for alleged ties to Huawei, a sanctioned entity. The prolonged holds, lasting up to two months, are causing financial strain for importers, with some incurring over $200,000 in fees.
Trump's Commerce Pick Lutnick Eyes $2B Bitcoin Lending Deal with Tether
President-elect Donald Trump's nominee for Commerce Secretary, Howard Lutnick, is reportedly in talks to collaborate with Tether on a $2 billion project to lend dollars to clients against bitcoin.
As Commerce Secretary, Lutnick would oversee trade policy, the U.S. Trade Representative's office, and various government functions, while likely continuing to advocate for cryptocurrency adoption.
