Bitcoin (BTC) surged past $28,000 as investors appeared to react positively to the first quarter earnings of tech giants Google’s parent Alphabet and Microsoft, as well as the liquidation of a few bitcoin short positions. Bitcoin (BTC) was recently trading at over $28,250, up 2.8% in the past 24 hours, making it the largest cryptocurrency by market capitalization. On Tuesday, BTC had traded sideways until shortly before U.S. equities markets closed, when it suddenly surged.
FTX stated that the anticipated total amount of the transaction would be $50 million, however the finalization of the deal requires the approval of the United States Bankruptcy Court for the District of Delaware, with a hearing scheduled for May 4. FTX announced that it had struck an agreement with M7 Holding, an Akron, Ohio-based private equity investment firm owned by a family. M7 Holding is affiliated with Miami International Holdings, which operates numerous exchanges in the US and internationally, comprising the Minneapolis Grain Exchange and the Bermuda Stock Exchange.
Supporters of Bitcoin gather at Texas State Capitol to protest proposed legislation reducing mining incentives!
Approximately 100 individuals responded to the summons from crypto promotion organizations Chamber of Digital Commerce, Satoshi Action Fund, and Texas Blockchain Council to indicate to Texas legislators that they oppose legislation targeted at crypto mining companies. On April 25th, crypto enthusiasts, state lawmakers, industry leaders, and even some Capitol Police officers gathered at the Texas Capitol in Austin to discuss the potential ramifications of SB 1751 should it pass through the state legislature. The bill, if enacted, would modify sections of Texas’ utilities code and tax code to impose restrictions on Bitcoin mining companies.
Binance.US withdraws from Voyager’s $1B asset purchase citing regulatory environment as the reason!
Binance.US has declared the termination of its deal to purchase $1 billion worth of bankrupted cryptocurrency brokerage Voyager Digital assets, citing “the hostile and uncertain regulatory climate in the United States,” according to a tweet released by the company. On April 19, the Voyager Official Committee of Unsecured Creditors, the U.S. government, and Voyager reached an agreement that enabled the purchase to go through. This came after the U.S. Department of Justice had appealed Voyager’s bankruptcy plan, prompting a judge to grant an emergency stay on March 28.