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El Salvador’s Bitcoin reserves got bigger today with a new purchase. The country also gave Bitfinex a crypto license to work there. The country’s rules about crypto and its use of Bitcoin make it a leader in Latin America’s digital money world. The government wants more people to use banking and help the economy grow. Also Read: IRS Shocker: Taxes Are “Voluntary” and Crypto Rules Delayed to 2026 Bitcoin Adoption And Crypto Regulations In El Salvador: How Bitfinex’s Crypto License Impacts The Market Source: Watcher Guru El Salvador Expands Bitcoin Holdings The government added to El Salvador’s Bitcoin reserves with its latest big purchase. President Bukele said, “The country’s Bitcoin strategy aims to attract foreign investment, boost tourism, and provide innovative opportunities for local businesses.” Since making Bitcoin legal money in September 2021, these cryptocurrency regulations have changed how money works in the country. Bitfinex ...

Tether and Bitfinex have chosen not to challenge the Freedom of Information Law (FOIL) request initiated by journalists, including Zeke Faux, Shane Shifflett and Ada Hui, whom they accuse of displaying “certain behaviors.”  The companies allege that Faux’s prior reports on Tether and Bitfinex exceeded the boundaries of professional journalism.  FOIL request in action In the Nov. 24 announcement, the two firms claim that media outlets, such as The Wall Street Journal and Bloomberg, have journalists involved in the ongoing FOIL request , have presented “one-sided and inaccurate” information. Tether and Bitfinex share that, in contrast their goal is to set a higher moral standard and “lead by example.” The current FOIL request is linked to the agreement between Tether, Bitfinex and the New York Attorney General (NYAG) in February 2021. Initially reported by CNBC, the agreement included a payment of an $18.5 million fine t...

BTC traders at Bitfinex and OKX are unwilling to use margin markets for bearish bets, creating an alarming imbalance that investors should pay close attention to. Crypto traders' urge to create leverage positions with Bitcoin (BTC) appears irresistible to many people, but it's impossible to know if these traders are extreme risk-takers or savvy market makers hedging their positions. The need to maintain hedges holds even if traders rely on leverage merely to reduce their counterparty exposure by maintaining a collateral deposit and the bulk of their position on cold wallets. Not all leverage is reckless Regardless of the reason for traders' use of leverage, currently there is a highly unusual imbalance in margin lending markets that favors BTC longs betting on a price increase. Despite this, so far, the movement has been restricted on margin markets because the BTC futures markets remained relatively calm throughout 2023. Margin markets operate differently from futures con...