Digital Currency Group, the parent company of Grayscale Investments digital asset manager, is now authorized to purchase up to $750 million worth of shares of Grayscale Bitcoin Trust (GBTC). The company announced Monday that DCG increased its prior authorization to buy up to $250 million worth of GBTC shares by extra $500 million. The share
Cryptocurrency
Nonfungible token studio, House of Kibaa, has announced an auction of three “Legendary” NBA Top Shot NFTs depicting slam dunks from renowned pro basketball player, LeBron James. The auction will be hosted in partnership with Heritage Auctions, and will run from May 6 until May 20. The three NFTs will be auctioned off as a
One crypto user is seemingly taking exception to current monetary policy from the Bank of England, or BoE, and expressing their frustration with a laser projector. Reported by Twitter user Dominic Frisby, an unknown person projected “Bitcoin fixes this” and other messages on the exterior walls of both the BoE and the Parliament of the
Spartan Protocol, a liquidity platform for synthetic assets on the Binance Smart Chain, was drained of $30 million in a coordinated attack on its liquidity pool late Saturday. The exploit targeted a “flawed liquidity share calculation” in the SPARTA/WBNB liquidity pool, which enabled the attacker to withdraw the funds, blockchain security company PeckShield explained. The
Coming every Saturday, Hodler’s Digest will help you track every single important news story that happened this week. The best (and worst) quotes, adoption and regulation highlights, leading coins, predictions and much more — a week on Cointelegraph in one link. Top Stories This Week Bitcoin bulls attack $57,000, and altcoins rally as April comes
Decentralized finance (DeFi) has taken a well-deserved break from the spotlight over the past couple of months after being one of the hottest sectors at the start of 2021, but recent growth on several top platforms may hint at another DeFi run in the near future. While projects that operate on the Ethereum (ETH) network
After a recent slump across cryptocurrency markets, Ether has surged to new all-time highs off the back of a number of important events and metrics. Overall, 2021 promises to be a crucial year for the Ethereum blockchain as developers continue to work toward the network’s integration with Eth2, which will see the blockchain part ways
Bitcoin (BTC) and the overall cryptocurrency market sprang to life on April 30 as an uneventful close to this month’s $4.2 billion options expiry occurred without any signs of controversy. Data from Cointelegraph Markets and TradingView shows that after a brief dip below the $53,000 support level on April 29, the price of Bitcoin staged
As Ether (ETH) made a $2,800 all-time on April 29, so did its futures open interest. The $8.5 billion figure marks a 52% monthly increase and shows robust trading activity behind the meteoric price rise. Some analysts might dismiss Ether derivatives, considering CME’s future has $355 million in open interest compared to Bitcoin’s $2.4 billion.
More USD Coin (USDC) was printed on April 30 than at any time in the dollar-backed stablecoin’s existence, as just over $3 billion was minted in one fell swoop. New USD Coins are minted whenever a customer exchanges their U.S dollars for the stablecoin, and Friday’s influx amounted to over 26% of its market cap
An Australian senate committee has published a report calling for a blockchain-based national land registry, better clarity over laws relating to smart contracts, and continued efforts to establish international standards for DLT. The Select Committee on Australia as a Technology and Financial Centre’s second interim report offers 23 recommendations spanning blockchain, consumer data, and corporate
Bitcoin and the overall cryptocurrency market saw minor losses on April 29 as the market heads into the expiry of $4.2 billion worth of (BTC) options contracts. Data from Cointelegraph Markets and TradingView shows that since reaching a high above $56,400 on April 28, the price of Bitcoin has dropped more than 6% back down near the
The year 2020 was certainly lonely for many people around the world, as the COVID-19 pandemic resulted in the cancellation of almost all social events and gatherings. As a result, online events have become the new normal for almost every industry. While some may view this as an innovative development, many industries have struggled to
The University of Wyoming is allocating $4 million to running nodes and staking at least three cryptocurrencies. The news was shared to Twitter on April 28 by Caitlin Long, a Wyoming Blockchain and Fintech Select Committee appointee and founder of Avanti Bank & Trust — a local bank servicing the digital asset sector. NEWS NOT
Happy Wednesday fellow DeFi degens! I was expecting to spend a large portion of this edition of Finance Redefined analyzing Aave’s liquidity mining program. There was some anxiety from investors that the emission of 2,200 $AAVE per day (which would translate to roughly 5% of the ecosystem reserve fund of 2.8 million AAVE per year)
Japanese financial giant SBI Group more than doubled the total profit of its cryptocurrency business during the fiscal year that ended in March. On Wednesday, SBI released a report on the company’s financial results, disclosing that its pre-tax crypto-powered profits during the past fiscal year amounted to 18.9 billion yen ($174 million). The amount is 10
Crypto data aggregator CoinMetrics has compiled a list of 100 insights into the recent performance of the digital asset markets — and the figures add up to a very bullish picture for the ecosystem. Released to celebrate the 100th issue of its State of the Network report, the list notes that a $100 investment made
The overall cryptocurrency market saw a second day of gains on April 27 after the weekend sell-off proved to be a good buying opportunity for retail and institutional investors. Lower gas fees following the Ethereum network’s Berlin upgrade along with an increase in institutional buying and decentralized finance activity lifted the price of Ether to
No fewer than 47 companies have cited the term “inflation” in their earnings calls for Q1 2021. According to a report by financial market data provider FactSet on Monday, the figure represents the highest number of companies to do so in the last decade. Earlier in April, the United States Bureau of Labor Statistics released
Defi-yield protocol mStable has become the latest to embrace second-layer scaling solutions, announcing its deployment on Polygon (formerly known as Matic) today. mStable’s interest-generating savings account, two of its “risk minimized meta-stablecoins,” and asset swapping features are now live on Polygon, offering its users reduced fees when compared to its Ethereum mainnet deployment. 1/ mStable
Tesla Motors sold a portion of its Bitcoin (BTC) holdings in the first quarter of 2021, generating net proceeds of $272 million, the electric vehicle maker reported Monday. In a 30-page slide deck accompanying its quarterly financial results, Tesla noted a $101 million “positive impact” as a result of its Bitcoin sale: “Year over year,
The demand for cryptocurrency exceeded PayPal’s initial expectations after the firm launched crypto trading in late 2020, according to the company’s CEO. “Demand on the crypto side has been multiple-fold to what we initially expected. There’s a lot of excitement,” PayPal president and CEO Dan Schulman said in a Sunday interview with Time magazine. Schulman
Some of China’s largest state banks are actively promoting the digital yuan as a superior means of payment to the country’s two leading payment providers, Alipay and WeChat Pay. In an April 26 report, Reuters revealed that six of China’s largest banks are promoting China’s nascent central bank-issued digital currency, or CBDC, in Shanghai ahead of
Corrections in a bull phase are usually a bullish sign as they reduce the frothy excitement and allow stronger hands to enter the markets. However, the recent correction in Bitcoin (BTC) from its all-time high at $64,849.27 does not seem to have scared novice traders. Data from DappRadar shows that decentralized exchange volumes have picked
Momentum trading driven by retail investors seems to have taken on a new life since the onset of the global standstill occasioned by the ongoing coronavirus pandemic. Where celebrity challenges used to dominate viral trends on social media, issues relating to personal finance and investments seem to be as popular these days. This increasing interest
In the past two years futures contracts have become widely popular among cryptocurrency traders and this became more evident as the total open interest on derivatives more than doubled in three months. Additional proof of their popularity came as futures turnover surpassed gold, which is a well-established market with $107 billion in daily volume. However,
Decentralized finance (DeFi) started 2021 by taking the cryptocurrency sector by storm and helping to kick the bull market cycle into high gear as traders capitalized on ways to easily trade cryptocurrencies and earn high yields on their hodl stacks. Eventually, high fees on the Ethereum (ETH) network and a few sharp market sell-offs helped
We are in an unprecedented period of social, political and economic turmoil. As the decentralized financial infrastructure powering billions of dollars of value and building thousands of companies grows, we need to recognize instability around us. The systems, protocols and incentives we create now can be less susceptible to censorship, government overreach and misinformation. Ethereum
As Bitcoin (BTC) lost the $52,000 support on April 22, the futures contracts funding rate entered negative terrain. This uncommon situation causes the shorts, investors betting on price downside, to pay fees every eight hours. While the rate itself is mildly damaging, this situation creates incentives for arbitrage desks and market makers to buy perpetual
Bitcoin and the wider cryptocurrency market took a beating in the late hours of April 22 and intense selling saw (BTC) price dip below $48,000 in a move that came as a relief to quant analysts like PlanB who were worried that the price growth was showing signs of being inorganic. A variety of factors have been identified
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