The boss of Marathon, America’s largest crypto mining firm, recently discussed the impact of spot Bitcoin ETF approvals on the market. Fred Thiel mentioned in an interview with Bloomberg that the ETF approval accelerated what would have been the post-halving rally. This approval attracted capital into the market and brought forward the price appreciation that
Crypto
In the first quarter of 2024, Ethereum and its Layer 2 scaling solution, Polygon, emerged as the top contenders in attracting new users to their blockchain platforms. According to the latest report by Flipside, Ethereum and Polygon collectively acquired a substantial number of new users, with Ethereum gaining 13.4 million and Polygon boasting 12.3 million.
The cryptocurrency market has recently experienced a period of correction, with Bitcoin (BTC) being one of the most impacted digital assets. BTC’s price has fallen by approximately 6% over the past week, currently trading at around $65,400 according to CoinGecko’s data. One potential reason for the increased volatility and decline in BTC’s value is profit-taking
In March 2024, blockchain security firm PeckShield released a report that highlighted a distressing increase in crypto hacks, causing over $187.29 million in losses across more than 30 incidents. Despite some recovery efforts, these breaches have dealt a significant blow to the DeFi sector’s progress. One of the most devastating breaches mentioned in the report
Bitwise Asset Management is making a bold move by urging the U.S. Securities and Exchange Commission (SEC) to defer the approval of a spot Ethereum Exchange-Traded Fund (ETF) until December. This decision comes amid the soaring success of the Bitwise Bitcoin ETF (BITB), which has accumulated over $2 billion in assets under management since its
In the wake of the October 7th attacks on Israel, the US and UK authorities have intensified their efforts to combat terrorism financing through cryptocurrency channels. The US Treasury’s Office of Foreign Assets Control (OFAC) and the UK’s Office of Foreign Sanctions Implementation (OFSI) recently imposed sanctions on two individuals and three entities for their
The Financial Conduct Authority (FCA) in the UK recently announced its intention to address meme-based marketing for financial products by releasing guidelines for financial services firms and social media influencers. This move comes after the FCA’s declaration of taking action against firms engaged in illegal financial promotions. The focus of the guidelines is on financial
Kerrisdale Capital recently released a report claiming that MicroStrategy’s shares are currently overvalued. They believe that MicroStrategy’s shares are trading at a premium to the actual spot price of Bitcoin, which the company views as unjustifiable. This assertion led to a significant 14% decrease in MicroStrategy’s shares following the report’s publication. Analysis of the Premium
The recent hack of Prisma Finance, where $11.6 million was stolen from the decentralized finance (DeFi) protocol, has raised questions and sparked discussions within the cryptocurrency community. The attacker behind the hack claimed that it was a “whitehat rescue” and expressed a desire to return the funds back to the platform. This raised eyebrows as
The Chief Investment Officer (CIO) of Bitwise, Matt Hougan, recently shared insights on the future of spot Bitcoin exchange-traded funds (ETFs) during a 20-day road trip he embarked on. His observations shed light on the current state of adoption and allocation trends among investors and institutions. Hougan’s encounters with financial advisors revealed a stark contrast
