The SpaceX-labelled wallets made their second large-scale Bitcoin transfer in three months, raising speculation of a sale as the company faces growing competition. Elon Musk’s aerospace company SpaceX moved $257 million worth of Bitcoin, its second large-scale transfer in three months, prompting speculation about a potential sale as the company faces mounting financial and political pressure. SpaceX transferred the Bitcoin (BTC) on Tuesday, marking the company’s first wallet movements since July. The SpaceX-labelled wallet “1MDyM” transferred $130 million worth of Bitcoin to address “bc1qj,” while another SpaceX wallet “1AXeF” sent $127 million in Bitcoin to address “bc1qq,” according to data from blockchain intelligence platform Nansen. Read more
Argo Blockchain will delist from the London Stock Exchange after its main creditor, Growler Mining, seized control through a debt-for-equity swap. Argo Blockchain’s largest lender, Growler Mining, is taking control of the embattled crypto miner through a debt-for-equity swap that leaves existing shareholders with just a small stake in the company. The restructuring, filed under the UK Companies Act, revealed that Growler will convert about $7.5 million in secured loans and provide new funding in exchange for 87.5% of Argo’s recapitalized equity. Bondholders of Argo’s $40 million unsecured notes will collectively receive 10%, while current shareholders will retain only 2.5%. The deal, part of a court-supervised restructuring plan dubbed Project Triumph, is designed to prevent insolvency and preserve the miner’s Nasdaq listing. Read more
Ether ran into resistance at $4,000 as the absence of new buyers and weak spot Ethereum flows threatened ETH price dropping to $3,100 next. Key takeaways: Declining spot buying and mounting spot Ethereum ETF outflows signal weak demand, risking further losses for Ether. Ether’s bear flag projects a 20% price drop to $3,100. Read more
The Blockchain Association, Crypto Council for Innovation and fintech allies urged the CFPB to finalize an open banking rule ensuring consumers, not banks, control their data. A coalition of fintech, crypto and retail industry trade groups is urging the US Consumer Financial Protection Bureau (CFPB) to adopt a robust open banking rule that safeguards consumers’ control over their financial data. The letter shared with Cointelegraph was signed by leading crypto advocacy groups — including the Blockchain Association and the Crypto Council for Innovation — alongside fintech and industry organizations such as the Financial Technology Association, American Fintech Council and others representing retailers and small businesses. The letter responds to the CFPB’s review of the Personal Financial Data Rights Rule under Section 1033 of the Dodd-Frank Act, which will define how consumers share their financial data with third-party services. Read more