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Bitcoin’s 5% spike higher Monday driven by short-covering, not fresh buying, says analyst

Bitcoin experienced a 5% increase on Monday, primarily attributed to short-covering rather than new buying activity, according to analysts. This surge occurred as traders who had bet against Bitcoin were forced to close their positions, leading to a rapid price rise. The market sentiment remains cautious, with analysts noting that the upward movement may not indicate a sustained bullish trend. Overall, the price action reflects a reaction to existing positions rather than an influx of new investment.

Read the full article: CoinDesk

US Prosecutors Seek $327K Crypto Forfeiture Over Romance Scam

US prosecutors are seeking the forfeiture of $327,000 in cryptocurrency linked to a romance scam that defrauded victims online. The funds were allegedly obtained by an individual who posed as a U.S. Army general and tricked victims into sending money under false pretenses. The scam involved creating fake

Scientists Turn Milk Protein Into a Biodegradable Plastic Alternative—Here's How

Scientists have developed a biodegradable plastic alternative using milk protein, specifically casein, which is abundant and renewable. The new material, created through a process that involves dissolving casein in water and adding a plasticizer, demonstrates similar properties to conventional plastics. This innovation aims to address the environmental issues associated with

Tether, Anchorage Tap Deloitte for First USAT Stablecoin Reserve Report

Tether and Anchorage have partnered with Deloitte to produce the first reserve report for the USAT stablecoin. This report aims to enhance transparency and trust in the stablecoin's backing. The collaboration signifies a move towards greater accountability in the cryptocurrency space. The USAT stablecoin is designed to maintain

Core Scientific turns lower after Q4 results disappoint

Core Scientific reported disappointing Q4 results, leading to a decline in its stock price. The company faced challenges due to lower Bitcoin prices and increased operational costs, which impacted its profitability. Despite a rise in Bitcoin production, the financial performance did not meet market expectations. Core Scientific's management

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US Prosecutors Seek $327K Crypto Forfeiture Over Romance Scam

Scientists Turn Milk Protein Into a Biodegradable Plastic Alternative—Here's How

Tether, Anchorage Tap Deloitte for First USAT Stablecoin Reserve Report

Core Scientific turns lower after Q4 results disappoint