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Self-custodial Bitcoin wallet Bitkit launches on app stores

BitKit, a leading provider of cryptocurrency solutions, has launched its highly anticipated self-custodial Bitcoin wallet, now accessible on both iOS and Android platforms. This release marks a significant milestone in empowering users to securely manage their Bitcoin assets directly from their mobile devices.

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BitKit, a leading provider of cryptocurrency solutions, has launched its highly anticipated self-custodial Bitcoin wallet, now accessible on both iOS and Android platforms. This release marks a significant milestone in empowering users to securely manage their Bitcoin assets directly from their mobile devices.

The BitKit self-custodial wallet offers users full control over their Bitcoin holdings, eliminating the need for third-party intermediaries or custodians. By leveraging advanced encryption techniques and secure key management protocols, BitKit ensures that users’ funds remain safe and accessible at all times.

With its intuitive user interface and robust security features, the BitKit wallet provides a seamless and user-friendly experience for both novice and experienced cryptocurrency enthusiasts. Users can easily send, receive, and store Bitcoin with confidence, knowing that their assets are protected by state-of-the-art security measures.

The availability of the BitKit self-custodial wallet on iOS and Android platforms expands access to secure Bitcoin storage solutions, catering to a diverse range of users worldwide. This launch reinforces BitKit’s commitment to promoting financial sovereignty and empowering individuals to take control of their digital assets.

As the adoption of Bitcoin continues to grow, the BitKit self-custodial wallet offers a trusted and convenient solution for users to safeguard their wealth and participate in the decentralized economy with peace of mind.

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Ethereum’s favorable risk-return ratio has traders ‘insanely bullish’ on ETH price

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A crypto analyst has expressed strong bullish sentiment on Ethereum (ETH), citing a highly favorable risk-reward ratio. The analysis highlights that ETH is only 18% above its 200-week exponential moving average (EMA), a level historically associated with price rebounds. The potential upside for ETH is estimated at 200%, with a worst-case drawdown of just 20%. Additionally, technical indicators, including an ascending channel and a liquidity cluster above $4,000, suggest that the price could be gearing up for a significant breakout.

Further on-chain data from Glassnode supports this outlook, revealing strong accumulation at key price levels. Investors have been purchasing ETH heavily around $2,632, with a larger cluster at $3,150, indicating confidence in further price appreciation. This trend suggests that rather than exiting positions, market participants are averaging down, reinforcing the bullish narrative.

Meanwhile, analysts point to Ethereum’s increasing buy pressure compared to Bitcoin. On-chain data from CryptoQuant shows ETH’s taker buy-sell ratio rising while BTC’s declines, signaling stronger buying momentum for ETH. Historically, such trends have allowed ETH to outperform Bitcoin in the short term. However, technical risks remain, with a need to maintain support above $2,600 to avoid a shift in market sentiment.

Despite short-term volatility, ETH’s overall market structure appears robust, with analysts predicting new highs in the coming months. The current accumulation phase and liquidity positioning indicate that Ethereum may see a significant upward move if key resistance levels are broken. However, investors remain cautious, monitoring broader market conditions and potential bearish signals.

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SEC task force continues meeting with firms over crypto regulations

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The U.S. Securities and Exchange Commission (SEC) continues to engage with crypto firms over regulatory issues under its new leadership. Recent meetings between the SEC’s crypto task force and industry representatives, including advocacy groups and executives, suggest a shift in the agency’s approach. Some believe the SEC may be reconsidering its stance on whether cryptocurrencies should be classified as securities.

The meetings follow the SEC’s decision to drop its investigation into Robinhood Crypto and OpenSea. There is also speculation that the commission may end its enforcement action against Coinbase. The discussions, led by Commissioner Hester Peirce, signal potential regulatory changes that could provide clearer guidelines for digital assets.

Peirce has called for public input on creating a regulatory framework that might exclude certain crypto projects from being classified as securities. Some within the industry are advocating for a “regulatory sandbox” that would allow projects to operate under limited oversight before being fully regulated. This approach aims to provide innovation-friendly policies while ensuring compliance with financial laws.

With no confirmed SEC chair yet, the agency’s direction remains uncertain. Acting Chair Mark Uyeda is leading discussions, but the Senate has yet to confirm a permanent head, with former Commissioner Paul Atkins considered a likely candidate. The evolving regulatory landscape suggests the SEC may be open to more industry-friendly policies under the current administration.

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Nigeria files $81.5B lawsuit against Binance, Coinbase execs in legal trouble

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Nigeria has filed an $81.5 billion lawsuit against Binance, accusing the crypto exchange of causing economic instability and failing to pay taxes. The country’s Federal Inland Revenue Service (FIRS) claims Binance has outstanding tax obligations from 2022 and 2023, along with a 26.75% interest on back taxes. This legal action follows Nigeria’s crackdown on crypto trading platforms amid concerns over the local currency’s depreciation.

Earlier, Nigerian authorities detained two Binance executives, Tigran Gambaryan and Nadeem Anjarwalla, on charges of tax evasion and money laundering. However, the government later dropped the cases against them, instead shifting focus to pursuing legal action against Binance itself. The exchange has faced increasing scrutiny in Nigeria as regulators attempt to control digital asset-related financial risks.

Meanwhile, Coinbase is also dealing with legal challenges as a shareholder lawsuit accuses the company of misleading investors about bankruptcy risks. The complaint, filed by investor Wenduo Guo, alleges Coinbase failed to disclose that customer funds might be classified as part of its bankruptcy estate, leaving retail investors vulnerable as unsecured creditors. The lawsuit also claims Coinbase engaged in undisclosed trading activities to mitigate declining crypto prices.

In a separate development, the U.S. Securities and Exchange Commission (SEC) has approved the first yield-bearing stablecoin, signaling regulatory acceptance of interest-generating digital assets. As global regulatory oversight tightens, crypto firms continue to face legal battles and shifting compliance requirements in multiple jurisdictions.

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