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According to exchange statistics, Bitcoin briefly reached $138,000 on Binance.US before falling back to parity with other bitcoin spot markets. The price spike occurred due to limited liquidity for Bitcoin against tether on Binance. Market depth statistics indicate that a $400,000 bitcoin purchase on this trading pair can increase prices by 2%. The surge is unlikely to be the result of a trader looking to spend significantly more for bitcoin, as it is currently trading for just over $29,000. Bitcoin’s recent price gains can be attributed to increased institutional investment and the flurry of spot Bitcoin ETF applications from traditional financial players. MicroStrategy, which holds around 140,000 Bitcoins, has seen its BTC holdings worth more than $4.2 billion. Read more for further details on  Bitcoin ’s   recent developments, including market analysis and predictions.

Currency exchange that didn’t work The new CEO of FTX, John Ray, is looking into whether or not the platform can be made to work again. He told the Wall Street Journal that he has put together a group to look into restarting FTX.com so that people who lost money can “recover more value.” FTX was worth $32 billion (£26 billion) a year ago, but it filed for bankruptcy in November. Money worth about $8 billion is thought to have gone missing. Sam Bankman-Fried, the exchange’s founder and former CEO, is accused of defrauding customers and investors to pay off debts from his crypto-focused hedge fund, Alameda Research. He has said that he hasn’t done anything wrong. But it still needs to be clarified what will happen to customer funds. ‘Complete Failure’ The WSJ report says that Mr. Ray is considering bringing the platform back to life instead of just selling its assets or shutting it down. When the BBC asked FTX for a comment, the company had to wait to answer. Mr. Ray had previously said ...

Customers of the US bank Silvergate, which provides cryptocurrency services, have withdrawn more than $8 billion (£6.7 billion) from crypto-linked deposits. Approximately two-thirds of the bank’s customers withdrew their deposits in the last three months of 2022. To cover the costs and maintain liquidity, the bank sold assets worth $5.2 billion. It occurred following a warning from three US authorities to banks that issuing cryptocurrency was “very likely to be inconsistent with safe banking procedures.” Silvergate is a bank traded on the New York Stock Exchange; hence it is governed by the financial industry. It is one of only a few businesses in this field that provides cryptocurrency-related services. The withdrawals occurred following the closure of the FTX crypto exchange, which was previously worth $32 billion and filed for bankruptcy in November. Former FTX CEO Sam Bankman-Fried has pleaded not guilty to allegations of defrauding consumers. Prosecutors claim that up to one milli...