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Bitcoin blew past $60,000 for the first time in more than two years on Wednesday as the popularity of spot ETFs drove a renewed trading frenzy for volatile cryptocurrencies — and crashed popular crypto exchange Coinbase.

The price of bitcoin soared to nearly $64,000 in the early afternoon, nearing it’s all-time high of $$68,789 in November 2021, before falling to around $61,000 by 6 p.m. That marked an 18% increase in the leading digital currency compared to one week ago and 40% bump compared to a month ago.

In the midst of Wednesdays rally, Coinbase, one of the largest digital asset exchanges, warned users that its website was experiencing issues but assured customers that their assets are safe after several complained that their digital wallets showed “$0.00.”

“We are dealing with a large surge of traffic — apologies for any issues you encounter, Coinbase CEO Brian Armstrong posted on X.

The bullish run on the world’s most popular crypto token could be the start of what Split Capitals Zaheer Ebtikar called a pretty clear FOMO kind of rally, referring to the “fear of missing out.”

More and more people are just convinced to buy, Ebkitar told Bloomberg.

The massive early success of recently approved spot bitcoin ETFs — which allow investors to acquire stakes in funds that own bitcoin offered by Blackrock, Fidelity and other firms has played a key role in the surge, experts told The Post.

The boom drove $520 million into BlackRocks Bitcoin ETF, a one-day record.

I do think the fact this is happening concurrent with the ETFs and you can look at the inflows of those things that seems to be a pretty big driver for this [rally], said Colin Harper, head of research at the bitcoin mining software firm Luxor.

Theres a large segment of the population that sees regulatory approval as, well, the states okay with this, theyre not going to ban it, institutions are cleared now. Theres a lot more legitimacy to it for the average person, Harper added.

However, other market experts warned that investors may soon see a “sharp correction” of 20% or more.

“This move has been very sharp, leverage is very high at the moment,” AnB Investments’ Jaime Baeza Baeza told Bloomberg.

The overall market capitalization for the cryptocurrency market hovered at a whopping $2.31 trillion as of Wednesday afternoon after crossing the $2 trillion threshold earlier this month for the first time in two years.

Cryptocurrencies have re-emerged as a hot asset alongside other trendy bets such as AI chipmaker Nvidia and weight-loss drug maker Eli Lilly, according to Jake Dollarhide, CEO of Longbow Asset Management.

You have the additional momentum of it being legitimatized by the SEC approving the ETFs from Blackrock and others. And then, frankly, the trash was hauled off to the curb in the form of Binance and FTX, Dollarhide said. You get rid of some bad actors and you rebuild trust within the crypto space.

The latest rally in bitcoins price brought it within striking distance of its all-time high of $69,000 a number that seemed unattainable over the last two years as a so-called crypto winter crushed demand for cryptocurrencies.

Bitcoins struggles throughout 2021 and 2022 were compounded by a number of scandals, including the collapse of convicted crypto fraudster Sam Bankman-Frieds FTX empire.

We are dealing with a LARGE surge of traffic – apologies for any issues you encounter. The team is working to remediate.

Other bullish factors include investor optimism that the Federal Reserve will cut sky-high interest rates at some point this year as well as a looming bitcoin halving a pre-planned event due in April that reduces the amount of digital currency people receive for mining by half.

Bitcoins halvings are meant to ensure the currencys scarcity over time. While the exact impact of each halving on bitcoins value is up for debate among experts, the price of bitcoin has soared ahead of past halvings that occurred in 2020, 2016 and 2012.

As the halving approaches, supply of new coins will be cut in half while demand is buoyed by the ETFs, said Christopher Alexander, chief analytics officer at Pioneer Development Group.

Once the small retail investors fully regain confidence in crypto exchanges there will be demand pressure at a level that has never been seen before, Alexander added.

With Post wires

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James Craig: Dentist in Colorado poisoned wife’s protein shakes with cyanide, murder trial hears

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James Craig: Dentist in Colorado poisoned wife's protein shakes with cyanide, murder trial hears

The trial of a dentist accused of murdering his wife by poisoning her protein shakes has begun in the US state of Colorado.

James Craig denies using cyanide and tetrahydrozoline, an ingredient in over-the-counter eye drops, to kill Angela Craig in a suburb of Denver.

During the trial’s opening statements on Tuesday, prosecutors claimed the 47-year-old was having an affair with another dentist, had financial difficulties and may have been motivated by the payout from his wife’s life insurance.

Angela and James Craig with their six children. Pic: NBC
Image:
Angela and James Craig with their six children. Pic: NBC

Assistant District Attorney Ryan Brackley told the jury at Arapahoe District Court that the 43-year-old victim – who had six children with her husband – had been suffering worsening symptoms including dizziness, vomiting and fainting.

She died in March 2023 during her third trip to the hospital that month.

Mr Brackley accused Craig of poisoning her protein shakes – then giving his wife a final dose of poison while she was in hospital, and said: “He went in that [hospital] room to murder her, to deliberately and intentionally end her life with a fatal dose of cyanide … She spends the next three days dying.”

Craig, who shook his head at times during the prosecution’s opening statement, has pleaded not guilty to several charges, including first-degree murder, solicitation to commit murder and solicitation to commit perjury.

More on Colorado

Prosecutors said Craig had tried to make it appear his wife of 23 years had killed herself. His internet history showed he had searched for “how to make a murder look like a heart attack” and “is arsenic detectable in an autopsy”.

In an argument, captured on home surveillance video, his wife also accused him of suggesting to hospital staff that she was suicidal.

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Ryan Brackley, a lawyer for the prosecution, delivers his opening arguments during the murder trial for James Craig, accused of killing his wife, at the Arapahoe District Court, Tuesday, July 15, 2025, in Centennial, Colo. (Stephen Swofford via Denver Gazette, Pool)
Image:
Ryan Brackley claimed James Craig administered poison to his wife while she was in hospital. Pic: Denver Gazette/ AP

After Craig’s arrest in 2023, prosecutors alleged that he had offered a fellow prison inmate $20,000 (£14,993) to kill the case’s lead investigator and offered someone else $20,000 to find people to falsely testify that Angela Craig planned to die by suicide.

Craig’s attorney, Ashley Whitham, told the jury to consider the credibility of those witnesses, calling some “jailhouse snitches”.

Ms Whitham argued that the evidence didn’t show that he poisoned her, instead seeming to suggest she may have taken her own life.

Ashley Whitham, a lawyer for the defence, delivers her opening arguments at the murder trial for James Craig, accused of killing his wife
Image:
Ashley Whitham, defending Craig, argued that the evidence didn’t show that he poisoned his wife. Pic: Denver Gazette/AP

She described Angela Craig as “broken”, partly by Craig’s infidelity and her desire to stay married, since they were part of The Church of Jesus Christ and Latter-day Saints.

Hospital staff had said Craig had been caring and “doting” while Angela Craig was in the hospital, said Whitham.

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The defence argued prosecutors had overdramatised Craig’s financial problems and dismissed the prosecution’s suggestion that Craig was motivated to kill because of an affair he was having with a fellow dentist from Texas.

“That’s simply not the case,” Whitham said, adding that Craig had many affairs over the years that his wife knew about. “He was candid with Angela that he had been cheating.”

The trial continues.

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Politics

Michigan town puts pre-emptive curbs on crypto ATMs

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Michigan town puts pre-emptive curbs on crypto ATMs

Michigan town puts pre-emptive curbs on crypto ATMs

The town of Grosse Pointe Farms has no crypto ATMs, but has regulated them anyway, requiring registration, warnings and limits on kiosks.

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Technology

Chip giant ASML says it can’t confirm that it will grow in 2026

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Chip giant ASML says it can't confirm that it will grow in 2026

An icon of ASML is displayed on a smartphone, with an ASML chip visible in the background.

Nurphoto | Nurphoto | Getty Images

ASML reported second-quarter earnings that beat estimates with the its key net bookings figure ahead of consensus.

However, the chip equipment giant missed analyst expectations for revenue guidance in the current quarter and warned of the possibility of no growth ahead.

Here’s how ASML did versus LSEG consensus estimates for the second quarter:

  • Net sales: 7.7 billion euros ($8.95 billion) versus 7.52 billion euros expected
  • Net profit: 2.29 billion euros vs 2.04 billion euros expected

In its own previous forecast issued in April, ASML had said it expected second-quarter net sales of between 7.2 billion euros and 7.7 billion euros. In a pre-recorded interview posted on ASML’s website, the company’s Chief Financial Officer Roger Dassen said the beat was due to revenue from upgrading currently deployed machines as well as tariffs having a “less negative” impact than anticipated.

Analysts anticipated net bookings — a key indicator of order demand — would come in at 4.19 billion euros over the April-June stretch. ASML reported net bookings of 5.5 billion euros.

ASML is one of the most important semiconductor supply chain companies in the world. It makes extreme ultraviolet lithography (EUV) machines, which are required to manufacture the most advanced chips in the world, such as those designed by Apple and Nvidia.

Companies like Intel and Taiwan Semiconductor Manufacturing Co. are customers of ASML.

2026 warning

Like many companies in the semiconductor industry, ASML has been grappling with uncertainty created by U.S. tariff policy.

The company forecast third-quarter revenue of between 7.4 billion euros and 7.9 billion euros, which was shy of market expectations of 8.3 billion euros.

ASML said it expects full-year 2025 net sales to grow 15%, narrowing its guidance from a previously announced forecasts of between 30 billion euros to 35 billion euros.

However, the Dutch tech giant was less certain about the outlook for 2026.

“Looking at 2026, we see that our AI customers’ fundamentals remain strong,” ASML CEO Christophe Fouquet said in a statement.

“At the same time, we continue to see increasing uncertainty driven by macro-economic and geopolitical developments. Therefore, while we still prepare for growth in 2026, we cannot confirm it at this stage.”

The Veldhoven, Netherlands-headquartered company has released its next generation EUV tools known as High NA, which stands for high numerical aperture. These machines, which are larger than a double-decker bus and can cost more than $400 million each, are key to ASML’s future growth plans.

This is a breaking news story. Please check back for more.

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