Day: March 6, 2026

Vancouver Staff Say Bitcoin Cannot Be Held in City Reserves

admin

Vancouver city staff said Bitcoin cannot be held in municipal reserves and recommended that the city council drop a proposal to create a Bitcoin reserve. City staff, led by Colin Knight, general manager of the Finance and Supply Chain Management department, “conclusively determined” that Bitcoin (BTC) is not an “allowable investment” for the city under the Vancouver Charter, according to a motions update report dated March 2. Staff recommended merging the motion with other related initiatives to reprioritize resources, with a final decision pending a council vote at a meeting…

Dubai Regulator Warns KuCoin Over Unlicensed Crypto Services

admin

Dubai’s digital asset regulator has instructed entities behind crypto exchange KuCoin to halt unlicensed virtual asset activities in the emirate, warning investors that the platform is not authorized to serve Dubai residents. ​In a Thursday investor and marketplace alert, the Virtual Assets Regulatory Authority (VARA) said that Phoenixfin Pte Ltd, MEK Global Limited, Peken Global Limited and Kucoin Exchange EU GmbH, all commercially advertising as KuCoin, may be providing virtual asset activities to Dubai residents, “without the necessary regulatory approvals and misrepresenting its licensing status.”  VARA said the group had…

Oil jitters and macro headwinds weigh on crypto markets as fear index hits extreme lows

admin

When oil prices sneeze, risk assets catch pneumonia. Crypto is currently reaching for the tissues. Prediction market Polymarket now shows a record 73% probability that US oil prices will breach $90 per barrel this month — a level not seen since October 2023. Bitcoin responded by slipping below $71K, while the broader crypto Fear & Greed Index sits at a grim 18, deep in “Extreme Fear” territory. The numbers tell a painful story Bitcoin dropped 2.6% over the past 24 hours, trading below the $71K mark that bulls had been…

OpenAI just turned ChatGPT into your spreadsheet co-pilot

admin

OpenAI has given ChatGPT the ability to work directly with Excel files and pull live financial data. For anyone who’s ever rage-quit a VLOOKUP formula, this is the moment you’ve been waiting for. The new integrations, announced as part of OpenAI’s broader push to make ChatGPT a productivity tool rather than just a chatbot, let users upload spreadsheets, manipulate data, run calculations, and query real-time financial information — all through natural language prompts. Think of it as hiring a junior analyst who never sleeps and never complains about pivot tables.…

Bitcoin exchange reserves just hit a level not seen since the Trump midterms

admin

The amount of Bitcoin sitting on centralized exchanges just dropped below 2.708 million BTC. That’s the lowest reserve level since November 2018, when Donald Trump was dealing with midterm election results and Bitcoin was trading under $4,000. Back then, low exchange reserves meant nobody cared enough to trade. Today, it likely means the opposite — holders are pulling coins into cold storage and refusing to sell. What the numbers actually mean Exchange reserves track how much Bitcoin is held in wallets controlled by centralized platforms like Coinbase, Binance, and Kraken.…

Bitcoin Relief Rally Fades as Bear Market Signals Hold

admin

Bitcoin staged a brief relief rally above $74,000 on Thursday, but it has already petered out as analysts predict a persistent bear market will keep momentum subdued.  “Bitcoin is still in a bear market despite the recent rally,” on-chain analytics company CryptoQuant said on Thursday. The platform’s Bull Score Index, a composite indicator that measures the overall health of Bitcoin (BTC) using a combination of fundamental and technical metrics, remains at 10 out of 100, “deep in bearish territory,” it said. “Even after the recent price rally, fundamental and technical…

Pudgy Penguins Hit WIth Trademark Suit Over Merch

admin

PEI Licensing, the firm behind the clothing brand Original Penguin, has filed a lawsuit against the nonfungible token project Pudgy Penguins, alleging trademark infringement, dilution and unfair competition. The lawsuit, filed in a Florida federal court on Wednesday, focused on claims around Pudgy Penguins’ apparel, accusing the company of using a “family of penguin trademarks that are confusingly similar” to its own. “This action results from Defendant’s unauthorized use and attempted registration of various PENGUIN word and design trademarks in connection with apparel and related goods and services that are…

Altcoin Season ‘Game Is Over’: Matt Hougan

admin

The euphoric altcoin seasons where almost every cryptocurrency rises across the market are probably not coming back, says Bitwise investment chief Matt Hougan. “I think that game is over. I think we’ll see a non-traditional altcoin season,” Hougan said in an interview on Wednesday. “An altcoin season that rewards assets with real-world traction and real-world application.” “I don’t think we’ll see the sort of rising tide lifts all buckets where you rotate from Bitcoin to ETH to DeFi to NFT pictures of rocks.” Hougan said future altcoin seasons could instead…

Lyn Alden Tips Bitcoin Outperforming Gold Through to 2029

admin

Bitcoin is likely to outperform gold on price performance through to 2029 after gold’s strong recent rally, says macroeconomist Lyn Alden. “If I had to bet Bitcoin versus gold over the next two to three years, I would bet Bitcoin,” Alden said on the New Era Finance podcast on Wednesday. “Gun to my head, if I had to say which one I think outperforms, I would say Bitcoin,” she added. “It’s usually a pendulum between the two. If gold has gone up as much as it did, the entire diminishing…

Solana ETFs Hold Strong Despite 70% Token Price Decline

admin

Exchange-traded funds tied to Solana have held on to their early inflows, despite the token having more than halved in price since the funds were launched, which analysts say indicates institutional resilience. Solana (SOL) is down 57% since Solana ETFs launched in the US in July, but the funds have managed to accumulate $1.5 billion in flows and “not really give any of it up,” Bloomberg ETF analyst Eric Balchunas said on Thursday. He added that 50% of the inflows to the ETFs are from institutional investors, which Balchunas called…