Mizuho Analyst: Bitcoin Will Make PayPal ‘Center of People’s Financial Lives’

PayPal’s foray into bitcoin could become a “game changer†for both the payments company and its users, said Mizuho Securities analyst Dan Dolev in an interview with CNBC on Friday. During the Fast Money interview, the analyst said the investment bank had surveyed almost 400 PayPal users and found that nearly 20% had started using […]

Japan’s SBI, Securitize Bringing Security Tokens to Crypto Wallet for Institutions

SBI Digital Asset Holdings is to integrate its institution-focused digital assets wallet with the digital securities platform from Securitize, a regulated U.S.-headquartered firm. In an announcement, Securitize’s Japanese arm said the integration would enable users of the “sbiwallet” to sell, issue and manage tokenized securities directly within the app. Securitize, which is regulated in the […]

Beyond ASICs: 3 Trends Driving Bitcoin Mining Innovation

From the Bitcoin halving in May to the ongoing price rally today, bitcoin has certainly seen its fair share of ups and downs in 2020. Even as the price of bitcoin sets new highs above those of 2017, observers have remained cautious, fearing that this may very well be a bitcoin bubble 2.0. However, pointing […]

Deribit’s New Options Allow Bitcoin Traders to Bet on Rally to $100K

Bitcoin traders can now bet on a potential price rise to $100,000 via crypto derivatives exchange Deribit’s new options contracts. Call and put options at the $100,000 strike price expiring on Sept. 24, 2021, went live on Deribit Thursday. “A few trades have taken place, as thus far 45 [call option] contracts have been traded,†[…]

Safello Raises $1.3M, Plans IPO in First Half of 2021

European bitcoin exchange Safello says it’s raised 11 million Swedish krona ($1.3 million) to cover the costs of a planned stock exchange listing in the first half of 2021. The Stockholm, Sweden-based company aims to list on Nasdaq’s First North Growth Market, it announced Friday. The funding effort, made via an issuance of new shares, […]

Warp Finance Suffers Possible $8M Flash Loan Attack

Decentralized Finance (DeFi) platform Warp Finance was exploited for $8 million Thursday evening, possibly due to a flash loan attack, according to analysis portal DeFi Prime. The exploit appears to be a flash loan attack, DeFi Prime said, citing data from Etherscan. The scheme has become common in the fast-growing DeFi sector. Flash loans allow […]

Market Wrap: Bitcoin Pushes Past $23.7K While Crypto Locked in DeFi at All-Time High

Bitcoin hits a new high at $23,770 on higher-than normal volume; DeFi’s total value locked has also hit a record on the strength of ether. Bitcoin (BTC) trading around $22,818 as of 21:00 UTC (4 p.m. ET). Gaining 9% over the previous 24 hours. Bitcoin’s 24-hour range: $20,756-$23,770 (CoinDesk 20) BTC below its 10-hour moving […]

More Than $1B Ether Staked on Ethereum 2.0

The total amount of ether locked in Ethereum 2.0 has surpassed $1 billion since it was launched in the beginning of this month, according to data from Etherscan. Approximately $1,033,261,422.14 worth of ether is locked on Ethereum 2.0 as of press time. Prices for ether were traded at around $672.72, up 7.13% in the past […]

Uncharted Territory: How Technical Analysts Are Trading Bitcoin at All-Time Highs

Bitcoin’s bull run appears to be in full swing amid a broader consensus that 2021 could bring more significant gains. The question now for market participants is how high the cryptocurrency could go and, conversely, which levels could act as support levels or potential entry points for investors looking to buy. For long-term investors, continuing […]

Bitcoin Chatter on Twitter Nears Highest Level in 3 Years Amid Price Surge

The number of tweets about bitcoin reached its highest level since mid-January 2018 on Wednesday, according to social media data collected by The TIE, with over 92,000 tweets posted. The recent surge in bitcoin-related Twitter content come as the leading cryptocurrency surged past $23,000 yesterday, reaching an intra-day high just below the $24,000 mark. Jan. […]

First Mover: Geek-Fest Turns Relevant as Bitcoin Passes $21K, $22K, $23K

Bitcoin (BTC) was higher for a sixth straight day, carrying through after surging 9.9% Wednesday to surpass $20,000 for the first time in the cryptocurrency’s 11-year history. “We are expecting this inertia to generate ripple effects going into the end of the year as momentum continues to skew bitcoin to the upside,†Lennard Neo, head […]

Above $100: Litecoin Hits Highest Price Since Summer 2019

Litecoin’s price reached three figures for the first time in 16 months earlier on Thursday. The seventh-largest cryptocurrency by market value soared to $103.19, its highest since Aug. 5, 2019, according to CoinDesk 20 data. Back then, litecoin had undergone its second mining reward halving, a programmed in supply cut repeated every four years to […]

Bitcoin Drops Nearly 7% After Setting New Record High of $23,770

Bitcoin surged to new record highs above $23,000 earlier on Thursday, before quickly falling back by over $1,500. The cryptocurrency dropped from all-time high of $23,770 to $22,185 in roughly 30 minutes to 09:45 UTC – a 6.67% drop, according to the CoinDesk 20. Prices rose by more than $2,000 to reach new record highs […]

American Express Invests in Institutional Trading Platform FalconX

American Express is taking a stake in the white-hot cryptocurrency industry, investing in institutional trading platform FalconX. FalconX announced Wednesday that American Express Ventures made the investment as an extension of a fundraise earlier this year, but did not disclose an amount. In May, FalconX revealed that it had raised $17 million in a seed […]

Crypto Exchange Bitpanda to Double Workforce With €10M Tech Hub Launch

Bitpanda, an Austria-based cryptocurrency trading platform, is setting up a new tech hub in Poland in its bid to become one of the crypto industry’s biggest firms According to a Wednesday tweet from Bitpanda co-CEO and co-founder Paul Klanschek, the brokerage will provide €10 million (US$12.2 million) to fund the technology and innovation center in […]

Bitcoin Sailing in Uncharted Waters as Price Crosses $22K for First Time

Bitcoin is heading north having blown past two price hurdles to reach another record all-time high. At around 2:40 UTC Thursday, the price of the world’s first cryptocurrency rose above $22,000 for the first time, having anchored at around $21,300 for a few hours during the early Asia trading hours, according to Bitstamp data. The […]

Market Wrap: Bitcoin Solidly Trades Above $20K; Ether Jumps on Positive BTC, CME’s New ETH Product

Bitcoin has continued trading higher Wednesday after breaking above the $20,000 level during early U.S. trading hours. Meanwhile, with a short supply of bitcoin and a surging demand, traders and analysts are optimistic the oldest cryptocurrency can keep its bull run going for a longer time. Bitcoin (BTC) trading around $20,808.28 as of 21:00 UTC […]

Guggenheim CIO Says Bitcoin ‘Should Be Worth’ $400,000

Guggenheim Partners Chief Investment Officer Scott Minerd shocked Bloomberg TV hosts Wednesday afternoon when he said his firm’s fundamental analysis shows bitcoin should be worth $400,000. “Our fundamental work shows that bitcoin should be worth around $400,000,” said Minerd. “Whoa!” responded one of the hosts. That sky-high price target is based on two things, according […]

Federal Reserve Keeps Rates Unchanged, Adds Qualitative Guidance on Pace of Money-Printing

The Federal Reserve said Thursday said it would hold U.S. interest rates at their current level, close to zero, and added qualitative criteria to govern how long it will keep up its $120-a-month bond-buying program. “Economic activity and employment have continued to recover but remain well below their levels at the beginning of the year,†[…]

Stampede of Bitcoin Buyers Pushed BTC Past $20K, Exchange Data Shows

Twenty thousand isn’t just a nice round number. It’s a floodgate that’s now been opened. Exchange data shows exactly how the dollar price of bitcoin broke this key psychological threshold in early trading hours Tuesday and kept on going. The pattern could be a sign of long pent up demand for the cryptocurrency, and underscores […]

Bitcoin Manager With $1B Crypto Goal Is Backed by Hedge Fund Vet Howard: Report

Institutional bitcoin firm One River Digital is barreling toward $1 billion in cryptocurrencies under management with backing from billionaire hedge fund manager Alan Howard, Bloomberg reported Wednesday. The newcomer, One River Digital, is an offshoot of volatility hedge fund One River Asset Management. It’s already invested $600 million in bitcoin and ether for institutional clients; […]

Bitcoin Mining Stocks Soar as BTC Blows Past $20,000

Share prices for publicly traded bitcoin mining companies are soaring as the leading cryptocurrency sliced through the highly-anticipated $20,000 mark Wednesday morning. Riot Blockchain (RIOT), Marathon Patent Group (MARA) and Hive Blockchain (HIVE) all show double-digit percentage gains since the daily open at last check. Hive is up 25% on the day. All three companies […]

CME Announces Ether Futures Contracts

The Chicago Mercantile Exchange (CME) announced Wednesday that it will launch a futures contract on ether, the world’s second-largest cryptocurrency by market value, in February 2021. Ether futures will be listed on Feb. 8 – more than three years after bitcoin futures went live. Each contract will have 50 units of ether and the derivative […]

First Mover: Stimulus Tests Bitcoin in Real-Time, and It Passes $20K

Bitcoin (BTC) surged 6% Wednesday to a new all-time high price, clearing the key psychological threshold of $20,000 that had acted as a market ceiling in recent weeks. “If history is any indication of future performance, some kind of pullback in the overall market confidence should appear sooner rather than later,†the Norwegian cryptocurrency analysis […]

Bitcoin Hits Record Above $20K as Analysts Remain Confident of Future

After testing investor patience for three weeks, bitcoin has finally crossed above $20,000 to reach fresh all-time highs. The number one cryptocurrency by market value jumped over the key psychological threshold during the early U.S. trading hours, surpassing the previous peak price of $19,920 recorded on Dec. 1. At the current price of $20,374, bitcoin […]

Ruffer Investment Confirms Massive Bitcoin Investment of $744M

UK-based Ruffer confirmed the size of its tremendous bitcoin investment from November in an email to CoinDesk Wednesday. “Ruffer’s exposure to bitcoin currently totals around £550m, equivalent to around 2.7% of the firm’s assets under management,” a spokesperson told CoinDesk in an email. Based on current exchange rates, £550 million is worth $744.26 million or […]

Bitcoin Hits 2-Week High Above $19.7K

Bitcoin has breached the tough hurdle of $19,500 and jumped to two-week highs on Wednesday. The leading cryptocurrency by market value topped out at at $19,753 during the European trading hours. That’s the highest level since Dec. 1, when bitcoin hit its all-time high of $19,920, according to CoinDesk 20 data. It remains to be […]

Market Wrap: Bitcoin Tests $19.5K; Ether Options Interest in Doldrums

Bitcoin has been able to hold above $19,000 as it has for the past several days. Meanwhile, the ether options market on Deribit has dipped in December although a block trade strategy in the $600-$800 price range has developed. Bitcoin (BTC) trading around $19,510 as of 21:00 UTC (4 p.m. ET). Gaining 1.6% over the […]

CEO of Bitcoin Mining Startup Layer1 Resigns in Settlement, Replaced by Ex-President

Co-founder and CEO of bitcoin mining startup Layer1 Technologies Alex Leigl has resigned as part of a settlement between the firm’s founders, according to a press release sent to shareholders and shared with CoinDesk. Another co-founder, former president Jakov Dolic has rejoined the company as CEO and board chairman. The settlement includes the discontinuance of […]

Monero Breaks 2-Year High Amid Rising Concerns Over Online Ransom

Prices for privacy-focused cryptocurrency monero broke its two-year high on Tuesday. It has been rallying since March’s crypto market sell-off. Monero (XMR) prices, Dec. 15, 2019 to Dec. 15, 2020. The price of monero rose to as high as $157.64 early Tuesday, the highest level since June 2018, according to data compiled on the CoinDesk […]

New Federal Reserve ‘Qualitative’ Approach Could Push Further Into Experimental Realm

Never underestimate American ingenuity, especially when it comes to the Federal Reserve’s ability to invent monetary policy on the fly.  The U.S. central bank’s top officials, led by Chair Jerome Powell, are expected this week to announce new “qualitative outcome-based†guidance to specify the conditions under which they might taper their stimulus-focused bond purchases, now […]

Riot to Test Immersion Cooling Bitcoin Mining Technology in Texas

Nasdaq-listed bitcoin mining company Riot Blockchain (RIOT) is piloting new liquid cooling technology for mining hardware in Texas to test solutions for effective mining in difficult temperature environments. Riot is launching an 8-megawatt immersion technology testing initiative to “assess the potential for higher productivity and lower cost mining opportunities in Texas,†per a press release. […]

Las criptomonedas están surgiendo en la desafiante economía de Argentina

Al inicio del 2020, Ripio, una de las casas de cambios más grandes de Argentina, tenía alrededor de 400.000 usuarios. Está terminando este 2020 con más de 1 millón.  El director de marca de Ripio, Juan Mendez, dijo a CoinDesk que cerca del 70% de los usuarios de Ripio son de Argentina y el resto […]

First Mover: Reminiscing on Pre-Pandemic Bitcoin as Rally Stalls

Bitcoin (BTC) was rising for a fourth straight day, though in a repeat of last week’s action, the cryptocurrency struggled to push above $20,000 after its months-long rally from a low around $5,000 in March.  “The level of $20,000, which is commonly equated with bitcoin’s all-time high, represents a massive psychological barrier and could likely […]

Bitcoin May Have Hit Wall of Profit Takers Around $19,500: Analyst

Bitcoin’s ascent above $19,500 was cut short early on Tuesday, possibly due to profit taking by large Asia-based investors, according to one analyst. The top cryptocurrency fell from $19,555 to $19,035, with most of the drop unfolding during the two hours to 06:00 UTC, according to CoinDesk 20 data. “I think Asian whales sold around […]

Market Wrap: Bitcoin Pushes Past $19.2K; Ether at 3% of BTC Price

Bitcoin climbed over the weekend to the $19,200 territory. Looking at ether’s price as a percentage of spot BTC, it may be undervalued. Bitcoin (BTC) trading around $19,196 as of 21:00 UTC (4 p.m. ET). Gaining 0.35% over the previous 24 hours. Bitcoin’s 24-hour range: $18,990-$19,323 (CoinDesk 20) BTC near its 10-hour moving average but […]

Crypto Is Booming in Economically Challenged Argentina

At the start of 2020, Ripio, one of Argentina’s largest crypto exchanges, had around 400,000 users. It’s finishing the year with 1 million. Ripio’s chief brand officer, Juan Mendez, told CoinDesk that around 70% of Ripio users are from Argentina, with the remainder mostly concentrated in Brazil. According to Mendez, the platform also saw a […]

First Mover: Horrible 2020 Economy Proved Best Thing for Bitcoin

Bitcoin was lower on Monday, holding just above $19,000 after rallying about $1,000 over the weekend. “There is an element of fatigue, with the market unable to drum up the momentum needed to spur us to new highs,†Matt Blom, head of sales and trading for the cryptocurrency firm Diginex, told clients in an email. […]

CEO of DeFi Insurer Nexus Mutual Hacked for $8M in NXM Tokens

The CEO of decentralized finance (DeFi) insurer Nexus Mutual has lost the equivalent to over $8 million in a targeted attack, the firm disclosed Monday. A total of 370,000 of the project’s native NXM tokens were drained from Hugh Karp’s address to one owned by the attacker at 09:40 am UTC, according to data source […]

Bitcoin Still on Track to Breach $20K in Coming Weeks: Analysts

Bitcoin’s revived uptrend could soon lead to a much-anticipated breakout above the $20,000 mark, according to several analysts. “We have witnessed a large move up over the weekend, with MicroStrategy’s efforts to increase bitcoin holdings from several large players bringing with it fresh optimism,†Matthew Dibb, CEO of Stack Funds, told CoinDesk. “Our belief is […]

MassMutual’s Bitcoin Investment Marks Adoption Milestone: JPMorgan

JPMorgan analysts have said the recent recent bitcoin purchases by Massachusetts Mutual Life Insurance Co. are a sign of growing mainstream acceptance for the cryptocurrency. “MassMutual’s bitcoin purchases represent another milestone in the bitcoin adoption by institutional investors,†JPMorgan’s strategists said, according to Bloomberg on Monday. “One can see the potential demand that could arise […]

Binance, OKEx Payments Partner Banxa Set to Make Milestone Stock Exchange Listing

Australia-based digital payments infrastructure provider Banxa is set to list on a Canadian stock exchange after being granted approval from local regulators earlier this month. According to a report from the Australian Financial Review’s Street Talk, Banxa’s shares are expected to launch for trading on TSX Venture Exchange on Dec. 25, with a market cap […]

Crypto Long & Short: Bitcoin’s Relationship With Gold Is More Complicated Than It Looks

Earlier this week, JPMorgan published a global markets strategy note that points out that money has flowed out of gold and into bitcoin since October, and predicts that this trend will continue over the medium to longer term. The easy conclusion is that investors are finally understanding that bitcoin is a superior future store of […]

Market Wrap: Bitcoin Holding at $18K; Active Ethereum Addresses up 140% in 2020

Bitcoin is struggling to make gains as an expected low-volume weekend could push price further down. Meanwhile, the increasing number of active Ethereum addresses this year is a testament to the network’s growth. Bitcoin (BTC) trading around $18,019 as of 21:00 UTC (4 p.m. ET). Slipping 2% over the previous 24 hours. Bitcoin’s 24-hour range: […]

What Is XRP, and How Is It Related to Ripple?

XRP is a digital currency which is issued and partly managed by Ripple Inc. a payment solutions company that also manages the RippleNet cross-border payment network. Ripple began selling XRP in 2012, though the company has turned its attention away from the digital currency and toward its cross-border payment network in recent years. How does […]

This One Graph Shows Ether Going From CeFi to DeFi: Glassnode

Data from blockchain analysis firm Glassnode indicates that decentralized finance (DeFi) may be taking a huge bite out of centralized finance (CeFi) when it comes to ether. The amount of fees on Ethereum spent on ether deposits to centralized exchanges has fallen to less than 1%, as of Dec. 9, 2020, from around 26% in […]

Multicoin Capital Leads $1.15M Seed Round for DeFi Protocol Swivel Finance

Swivel Finance – a decentralized protocol for fixed-rate lending and interest-rate derivatives – has raised $1.15 million in a seed round led by investment firm Multicoin Capital. According to a blog post on Thursday, other participants in the funding included Electric Capital, CMS Holdings, Divergence Ventures and DeFiance Capital. Several angel investors also invested, including […]

First Mover: Stimulus Bet Wins Even as Bitcoin Slips Below $18K

Bitcoin (BTC) was lower for a second day, slipping below $18,000 to the lowest in almost two weeks.  “The momentum that characterized bitcoin throughout October and November seems to have cooled down,†Matt Blom, head of sales and trading for the cryptocurrency-focused financial firm Diginex, told clients Friday in a note. “Prices retrace even in […]

Wallets With Over 1,000 Bitcoin Have Hit Record Number: Chainalysis

The popular narrative that institutional bitcoin investors have been leading the 2020 price rally looks to be backed up by on-chain data. In 2020, the number of wallets – defined as a set of blockchain addresses controlled by a single entity – holding at least 1,000 bitcoins has increased by 302 (17%) and is now […]

Bitcoin Whales Buy Low, Sell High; Retail Investors Chase Rallies: Data

Newly released data from crypto exchange OKEx gives one possible explanation of how larger holders of bitcoin – or “whales†– were able to influence prices as bitcoin rallied to a new all-time high in November. During that bitcoin run-up, institutions and whales were able to buy dips and oftentimes sell when prices went up. […]

India’s Banks Are Once More Serving Crypto Traders and Exchanges

Banks in India are again doing business with select cryptocurrency exchanges and their customers. Top institutions such as State Bank of India, ICICI Bank, HDFC Bank and Yes Bank are allowing customers to use their bank accounts to fund cryptocurrency trading. They are further offering various facilities to cryptocurrency exchanges, sources familiar with the matter […]

New York Attorney General Says Bitfinex, Tether Could Complete Loan Document Handover in ‘Weeks’

The New York Attorney General (NYAG) anticipates the handover of loan documents relating to an alleged $850 million cover-up will be completed in “the coming weeks.†In a letter filed with the New York Supreme Court on Wednesday, the NYAG said stablecoin issuer Tether and cryptocurrency exchange Bitfinex had been cooperating with its inquiry. The […]

$76M Ether Fund Makes ‘World First’ IPO on Canadian Stock Exchange

An Ethereum-based fund has completed its initial public offering (IPO) on the Toronto Stock Exchange (TSX). According to a press release on Thursday, Canadian investment fund manager 3iQ announced the sale of more than 7.2 million Class A and F units totaling gross proceeds of around $76.5 million. The Ether Fund Class A Units, aimed […]

$76M Ether Fund Makes ‘World First’ IPO on Canadian Stock Exchange

An Ethereum-based fund has completed its initial public offering (IPO) on the Toronto Stock Exchange (TSX). According to a press release on Thursday, Canadian investment fund manager 3iQ announced the sale of more than 7.2 million Class A and F units totaling gross proceeds of around $76.5 million. The Ether Fund Class A Units, aimed […]

Market Wrap: Bitcoin Briefly Slides Below $18K as ETH Is More Volatile Than BTC in 2020

Weak volumes and rotations into other cryptocurrencies are likely impeding bitcoin’s price movement from going higher. Meanwhile, ether has been more volatile than bitcoin in 2020 and could remain that way. Bitcoin (BTC) trading around $18,349 as of 21:00 UTC (4 p.m. ET). Gaining 0.14% over the previous 24 hours. Bitcoin’s 24-hour range: $17,904-$18,652 (CoinDesk […]

MassMutual Buys $100M in Bitcoin, Bets on Institutional Adoption With $5M NYDIG Stake

Massachusetts Mutual Life Insurance Co. is jumping into the institutional bitcoin game with a $100 million investment in bitcoin and a $5 million equity stake in NYDIG. The twin plays – both revealed in a Thursday press release – give MassMutual direct exposure to the cryptocurrency’s price swings and signal it’s betting that other big […]

Bitcoin Chart Views Soared Along With Price in November, TradingView Says

Bitcoin traders stared at price charts over 3.4 million times in November, watching the leading cryptocurrency pass its record-high price from 2017 late in the month, according to leading charting service TradingView. In November, bitcoin chart views on TradingView soared 82% from the previous month with similar growth seen in charting of other cryptocurrencies, per […]

First Mover: Bitcoin Stuck as ECB’s Lagarde Primes Extra €500B Stimulus

Bitcoin (BTC) was lower while staying mostly within this month’s range of roughly $18,200 to $19,700. “Upward price action seems to stall, and our analysts believe more inertia is required to push bitcoin beyond the $20,000 psychology barrier,†Lennard Neo, head of research for the cryptocurrency investment firm Stack Funds, wrote Thursday in a report. […]

Kenyans Can Now Buy and Sell Crypto Through Paxful’s P2P Marketplace

Peer-to-peer digital asset marketplace Paxful has partnered with remittance network BitLipa to allow Kenyan users to buy and sell bitcoin (BTC) and the tether (USDT) stablecoin. Announced Thursday, the arrangement mean BitLipa’s app serves a fiat currency on-ramp to Paxful’s service.  Paxful said 45% of its active users hail from Africa, while in Kenya specifically […]

ECB Boosts Emergency Bond-Buying Program by 37% to €1.85T Amid Pandemic Resurgence

The European Central Bank Thursday said it would boost the size of an emergency asset purchasing program and extend a bank loan program by a year as a resurgence in coronavirus cases takes a toll on the region’s economy. The pandemic emergency purchase program (PEPP) will increase by €500 billion to €1.85 trillion (US$2.2 trillion), […]

DBS Bank’s Digital Exchange to Begin Trading Crypto ‘Next Week’

DBS Bank of Singapore has officially announced the arrival of its digital assets exchange, with trading to start next week. The DBS Digital Exchange is 10% owned by Singapore’s SGX stock exchange. It will also provide tokenization of securities and other assets, as well as bank-grade custody for digital assets. The new exchange will facilitate […]

Airbnb Pre-IPO Derivatives Contract Listed on Crypto Exchange FTX

FTX exchange has listed an Airbnb derivatives product ahead of the home rental giant’s initial public offering (IPO) on Thursday. Announced Wednesday, the pre-IPO contracts will give traders exposure to Airbnb’s performance based on its market capitalization at the close of its first day of trading on the Nasdaq stock exchange. After that point, the […]

Market Wrap: Bitcoin Recovers to $18.2K While Market Dynamics Juice DeFi Total Locked

Bitcoin is holding just above $18,000 but analysts are mixed on where it will head, DeFi’s total value locked looks to have momentum but that might have to do with crypto market conditions. Bitcoin (BTC) trading around $18,355 as of 21:00 UTC (4 p.m. ET). Slipping 1.9% over the previous 24 hours. Bitcoin’s 24-hour range: […]

OKEx Bitcoin Mining Pool Shows Signs of Life After Precipitous Hashrate Drop

Cryptocurrency exchange OKEx is seeing slight signs of activity from its mining pool after losing 99.5% of its hash rate this fall after the exchange suspended withdrawals from trading accounts. OKEx pool miners seemed to jump ship through late October and into November as the pool’s hashrate dropped from over 5,000 petahashes per second (PH/s) […]

Bitfury to Sell Its 38% Stake in Bitcoin Miner Hut 8

Bitcoin mining hardware manufacturer Bitfury has filed to sell its remaining 38% stake in Toronto Stock Exchange-listed mining company Hut 8. The Amsterdam-based manufacturer filed a notice of intention to distribute securities on Dec. 3 for the sale of 37,226,958 shares of Hut 8. At current prices, the stake is worth $56.6 million.  Until September, […]

Fidelity Digital to Accept Bitcoin Collateral on Cash Loans for Institutions

Fidelity Digital Assets is to allow its institutional customers to use bitcoin as collateral against cash loans, according to a Bloomberg report on Wednesday. The new service will target bitcoin investors who are keen to turn their holdings into cash without selling, as well as hedge funds, miners and over-the-counter trading desks, Tom Jessop, president […]

Crypto Remittances Prove Their Worth in Latin America

Western Union recently announced it would be suspending U.S. dollar transfers to Cuba, due to sanctions from the United States. This may only increase the attractiveness of sending remittances with cryptocurrencies, which are much more resistant to geopolitical tensions. According to the World Bank, Latin America’s formal remittance market is around $96 billion. But traditional […]

Bitcoin’s Rising Popularity With Investors Means Gold Will ‘Suffer’: JPMorgan

Gold could lose its shine in the long run due to institutional investors’ increased preference for bitcoin, according to the investment banking giant JPMorgan. “The adoption of bitcoin by institutional investors has only begun, while for gold, its adoption by institutional investors is very advanced,†JPMorgan bank’s quantitative strategists and managing director Nikolaos Panigirtzoglou recently […]

MicroStrategy, Raising Funds to Buy More Bitcoin, Boosts Notes Offering to $550M From $400M

MicroStrategy (Nasdaq: MSTR) Wednesday announced the pricing of its offering of $550 million aggregate principal amount of 0.750% convertible senior notes due 2025.  That amount exceeds the $400 million the company said it intended to sell in its shelf registration with the U.S. Securities and Exchange Commission. MSTR said it estimates that the net proceeds […]

First Mover: Why Wells Fargo Won’t Recommend Bitcoin to Clients

Bitcoin was little changed, holding above the key psychological support level of $18,000 after a drop on Tuesday of more than $800, or 4.5%. But that decline was only the biggest in a week, in a reminder of just how volatile bitcoin prices can be. The slide might have been triggered by blockchain data showing […]

OKCoin Agrees to List Blockstack’s STX Token in US Following SEC Turnabout

OKCoin said it will become the first U.S.-based crypto exchange to list Blockstack PBC’s stacks token (STX). STX is expected to be available on OKCoin, an exchange with daily volume of around $30 million, as soon as Jan. 14, 2021, upon the completion of the Stacks Blockchain 2.0 launch, the company announced. “After our compliance […]

Bitcoin’s Options Market Skews Bearish as Spot Price Loses Ground

Bitcoin’s options market has flipped bearish for the short term, as demand rises for ways to hedge against further sell-offs in the spot market.  The top cryptocurrency by market value fell to $17,640 earlier Wednesday, the lowest since Nov. 29. Prices later rebounded somewhat and bitcoin was last seen changing hands near $18,300, according to […]

Bitwise’s Crypto Index Fund Becomes Available To U.S. Investors

Bitwise Asset Management, a provider of cryptocurrency index funds to professional investors, announced Wednesday that its 10 Crypto Index Fund is now available to U.S. investors as a public-traded cryptocurrency index fund. After a Form 211 for quotation of the fund’s shares were reviewed by the Financial Industry Regulatory Authority (FINRA), the Bitwise 10 Crypto […]

Bridgewater’s Ray Dalio Softens Stance on Bitcoin, Says It Has Place in Investors’ Portfolios

Ray Dalio, the founder of the world’s largest hedge fund, Bridgewater Associates, has offered a more positive stance on bitcoin than in comments that made headlines last month. In a Reddit Ask Me Anything (AMA) on Tuesday, Dalio said he thought bitcoin and other cryptocurrencies had “established themselves†over the last 10 years and were […]

Bitcoin Price Drops $1,000 in Worst Sell-Off in a Week

Bitcoin has fallen precipitously in the past few hours and is testing a key level of psychological support near $18,000. At around 06:00 UTC on Dec. 8, the price of the world’s first cryptocurrency fell to around $18,031 from $18,770. It subsequently retraced slightly to $18,200 by press time, according to CoinDesk’s bitcoin price index. […]

Robinhood Hires Goldman Sachs to Lead Possible $20B-Plus IPO: Report

Trading app Robinhood has chosen Goldman Sachs to lead the way for an initial stock offering which could come in 2021 and value the trading app firm at more than $20 billion, people familiar with the matter told the N.Y. Post. The company was valued in its last funding round in September at $11.7 billion, […]

Robinhood Hires Goldman Sach to Lead Possible $20B-Plus IPO: Report

Trading app Robinhood has chosen Goldman Sachs to lead the way for an initial stock offering which could come in 2021 and value the trading app firm at more than $20 billion, people familiar with the matter told the N.Y. Post. The company was valued in its last funding round in September at $11.7 billion, […]

Market Wrap: Bitcoin Steadies at $18.7K; Big Ether Options Position Around $1,120 Isn’t Bullish

Volume doldrums and December sluggishness caused bitcoin to slip steadily below $19,000; ether options above spot are highest at $1,120 strike price. Bitcoin (BTC) trading around $18,705 as of 21:00 UTC (4 p.m. ET). Slipping 1.7% over the previous 24 hours. Bitcoin’s 24-hour range: $18,629-$19,299 (CoinDesk 20) BTC below its 10-day and 50-day moving averages, […]

Secondary Mining Markets Surge Amid ASIC Manufacturing Delays

Secondary markets for bitcoin mining machines are red hot as a surge in demand from miners has caused severe delays in order fulfillment from manufacturers. Two of the mining industry’s largest manufacturers, Bitmain and MicroBT, are sold out of new machines until May 2021 as demand has overrun current manufacturing capacity. Scrambling for even more […]

First Mover: Wells Fargo Bitcoin Briefing Could Signal Bull Run Intact

Bitcoin was lower for a second day, dropping below $19,000 after bulls failed to push prices past the psychological $20,000 threshold. “The overly confident market has been dampened,†the Norwegian crypto-market analysis firm Arcane Research wrote Tuesday in a report. In traditional markets, European shares slid, led by travel-related companies, and U.S. stock futures pointed […]