Bitcoin surged past $66,000 earlier today, reaching a new high point in over a month. This represents an increase of more than $8,000 from its lowest value in July. Here’s a look at what might be driving this price jump.
The news caused the stock to jump from a low of around $33. This increase is happening alongside a broader trend of Bitcoin mining companies shifting their focus to provide infrastructure for artificial intelligence.
As a researcher following the Bitcoin Cash community, I’ve noticed a debate around merge mining. Markus, known as “Shibetoshi Nakamoto” on X, has publicly stated his opinion that eliminating it wouldn’t be beneficial and isn’t a worthwhile change.
Eleanor Terrett, from Crypto in America, reported on X that Donald Trump has supported a key ethics requirement for the proposed crypto market bill. This language has been distributed to Senate Republicans, indicating progress for the bill’s advancement.
The All-Party Parliamentary Group (APPG) is launching an investigation into challenges faced by crypto and digital asset companies when accessing essential banking services. Many firms have reported difficulties opening bank accounts, keeping them open, or getting payment processing tools they need to manage their businesses – things like receiving payments from customers, paying employees, and making investments. This also includes related professional services like insurance.
Arthur Hayes, the co-founder of BitMEX, is investing in Ethereum again. Data shows he’s been buying ETH after selling some off in June.
Parliament is now starting to address the issue of banks closing accounts of individuals and businesses, often those involved with cryptocurrency. Members of the House of Lords have added a requirement to a financial bill that the Treasury and regulators investigate how widespread this practice is and why it’s happening. While the details are technical, this review could lead to changes in how banks handle customers who deal with crypto.
At press time, crypto.news market data showed XRP near $1.13, up about 4.1% over 24 hours.
According to a report in the Maeil Business newspaper, South Korea’s financial regulators didn’t conduct specific security checks during the initial testing phase of the Bank of Korea’s digital currency pilot program, which took place between April and June of last year. The information comes from data provided by the Financial Supervisory Service to lawmaker Lee Heon-seung.
