Cryptocurrency markets got a much-needed boost this week, as BlackRock jumped into the fray to launch a bitcoin ETF. As a result, the world’s largest asset manager helped reverse a negative trend in digital assets, even as US interest rates rose and the market was plagued by ongoing legal woes for several big players in the sector.

As a result, the world’s btc news cryptocurrency rebounded from a one-year low, and it climbed to a new high above $26,950. The move came after BlackRock filed an application to set up a spot bitcoin exchange-traded fund (ETF), aimed at opening the industry to mainstream investors.

Bitcoin Buzz: Recent News and Updates Shaping the World of Cryptocurrency

In other btc news, the Ethereum blockchain, the world’s most prominent decentralized digital money platform that hosts thousands of NFTs and billions of dollars in Zuck Bucks, is shifting to a more environmentally friendly system that should cut its energy consumption by 80%. As the blockchain evolves, it will set a precedent for other blockchains to follow suit in order to reduce their environmental footprints.

Also, the founder of FTX, Sam Bankman-Fried, has been arrested in a Manhattan court case that could lead to a collapse of the trading firm. The collapse of FTX will further slash the already-tight liquidity in the crypto markets, and may have a lasting impact on the broader sector’s stability.

Meanwhile, PayPal has launched a stablecoin pegged to the US dollar, providing blue-chip backing for its digital token. The company is expected to make the new stablecoin available in its apps this fall, and it could provide a strong rival to Tether.