Bitcoin trading over the weekend has experienced a decline since the introduction of spot exchange-traded funds (ETFs) by institutions, according to data from crypto research firm Kaiko. The firm reports that the trading volume of Bitcoin on Saturdays and Sundays has dropped this year, with only 13% of the total trading volume occurring on weekends, compared to 25% five years ago. The decrease in weekend trading has been observed both in the United States and offshore, although offshore trading maintains a slightly higher share at 15%, compared to 11% in the US. Kaiko also noted that Bitcoin liquidity has seen a strong rebound since the launch of spot Bitcoin ETFs. However, it observed that there have been few transfers between ETF issuers and exchanges over the weekends.
In other news, Do Kwon, the co-founder of Terraform Labs, is facing extradition to the US to face criminal charges. However, it is expected that the extradition will not take place until the end of March, as defense lawyers have stated. Kwon has been held in Montenegro since March 2023. It is anticipated that he will not be present or able to attend the trial, which is 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 a separate case, a judge ruled in favor of the SEC in December 2023, stating that Terraform offered unregistered securities.
Furthermore, Vitalik Buterin, the co-founder of Ethereum, offered a solution to Elon Musk’s issue with Microsoft’s Windows operating system. Musk had complained about not being able to install the OS on his new computer without a Microsoft account. Buterin suggested that Musk join the desktop Linux community, which prompted other users to offer workarounds for Musk to navigate the installation process without a Microsoft account. However, Musk expressed his belief that the process should not be so complex.
Please note that this article does not provide investment advice or recommendations, and readers should conduct their own research before making any investment or trading decisions.