ARK Invest Swaps Nearly $9M of Its Own Bitcoin ETF (ARKB) for Coinbase (COIN) Stock

Cathie Wood’s investment management company ARK Invest snapped up $8.7 million of Coinbase (COIN) shares on Tuesday as the rout in the cryptocurrency saw crypto equities slide. ARK added 41,032 COIN shares to its Next Generation Internet ETF (ARKW), as the crypto exchange’s stock fell nearly 6.5% on the day to $212.49. Meanwhile, ARK sold … Read more

U.S. Spot Bitcoin ETFs See Record Single-Day Outflow of Over $900M as Carry Trades Yield Less Than The 10-Year Treasury Note

Tuesday was a rough day for the crypto market, as bitcoin (BTC) fell to three-month lows below $87,000, dragging the broader market down. More importantly, investors withdrew funds from U.S.-listed spot bitcoin exchange-traded funds (ETF) at an unprecedented rate. The 11 spot ETFs registered a cumulative net outflow of $937.78 million, the most significant single-day … Read more

What Next For Bitcoin and Majors as Rate Cut Bets Jump 30%?

Bitcoin (BTC) neared $89,000 in Asian morning hours after a 24-hour low of $86,200, slightly improving market sentiment with major tokens showing signs of a recovery. XRP and BNB Chain’s BNB led a gradual majors rebound Wednesday as traders continue to reel from Tuesday’s carnage — one that saw overall capitalization drop as much as … Read more

Michael Novogratz’s Galaxy Hires Zac Prince, Former CEO and Co-Founder of BlockFi

Michael Novogratz’s Galaxy Digital (GLXY) has hired Zac Prince as a managing director, according to an internal memo seen by CoinDesk. Prince will be working closely with Galaxy’s President, Chris Ferraro, to expand the company’s digital assets offering. Galaxy believes that crypto is entering a “pivotal era of transformation,” and has hired Prince to help … Read more

SEC Drops Investigation Into Uniswap, Will Not File Enforcement Action

The U.S. Securities and Exchange Commission (SEC) has dropped its investigation into Uniswap Labs, the Brooklyn-based company behind the decentralized protocol of the same name, according to a Tuesday announcement from Uniswap. Uniswap received a Wells notice — essentially, a heads-up from the regulator informing respondents of the charges the SEC is planning to bring against … Read more

Voltage Aims To Bring Bitcoin’s Lightning Network To Every Business In The World

Founder: Graham Krizek Date Founded: October 2020 Location of Headquarters: Wichita, Kansas Number of Employees: 17 Website: https://www.voltage.cloud/ Public or Private? Private In 2012, soon after Graham Krizek discovered Bitcoin and subsequently began contributing to Bitcoin Core and building his own applications on Bitcoin, he noticed an issue that was hindering Bitcoin builders. “The problem … Read more