Bitcoin trading on weekends has seen a decline due to the entry of institutional investors and the introduction of spot ETFs, according to data from crypto research firm Kaiko. The volume of Bitcoin trading on Saturdays and Sundays has dropped from 25% five years ago to just 13% so far in 2024. The decrease in weekend trading has been observed both in the United States and offshore, with offshore trading accounting for a slightly higher share at 15% compared to 11% in the US. However, Bitcoin liquidity has improved since the launch of spot Bitcoin ETFs. Despite this, there have been few transfers between ETF issuers and exchanges over the weekends.
In other news, Do Kwon, co-founder of Terraform Labs, is facing extradition to the United States to face criminal charges. However, according to defense lawyers, the extradition is not expected to take place until the end of March. Kwon has been held in Montenegro since March 2023. His lawyer stated that Kwon is unlikely to be present or able to attend the trial scheduled to begin on March 25, 2024. The US Securities and Exchange Commission (SEC) filed a lawsuit against Kwon and Terraform in February 2023, and Kwon was later charged with eight criminal counts by the US Attorney’s Office. In December 2023, a judge ruled in favor of the SEC in the civil case, stating that Terraform had offered unregistered securities.
Furthermore, Vitalik Buterin, the co-founder of Ethereum, offered Elon Musk some advice regarding his computer issues. Buterin invited Musk to join the desktop Linux community after Musk complained about not being able to install Microsoft’s Windows operating system on his new computer without a Microsoft account. Musk expressed his frustration on social media, stating that there used to be an option to skip signing in or creating a Microsoft account. Users on the platform suggested workarounds, but Musk believed the process shouldn’t be so complicated.
Please note that this article does not provide investment advice or recommendations. Readers should conduct their own research before making any investment or trading decisions.