Binance added another $300 million worth of Bitcoin to its emergency reserves on Monday, continuing its experiment with a Bitcoin-backed protection fund as markets remain under pressure. Binance bought another 4,225 Bitcoin (BTC) worth $300 million for its Secure Asset Fund for Users (SAFU) wallet, which holds its emergency reserves, according to blockchain data platform … Read more
Crypto investment products logged a third straight week of outflows, though the pace of selling eased markedly as digital asset prices steadied after a sharp downturn. Crypto exchange-traded products (ETPs) recorded $187 million in outflows during the week, a sharp drop from the $3.43 billion seen over the previous two weeks, CoinShares reported on Monday. … Read more
Coinbase’s TV spot at the Super Bowl divided opinion online, but the crypto exchange says conversations about it were the point. Four years after its viral QR code advertisement, crypto exchange Coinbase has returned to the Super Bowl, this time betting on a Backstreet Boys karaoke-inspired ad. Coinbase’s one-minute TV spot during the most-watched sporting … Read more
Digital asset manager CoinShares has brushed aside concerns that quantum computers could soon shake up the Bitcoin market, arguing that only a fraction of coins are held in wallets worth attacking. In a post on Friday, CoinShares Bitcoin research lead Christopher Bendiksen argued that just 10,230 Bitcoin (BTC) of 1.63 million Bitcoin sit in wallet … Read more
Whether the Federal Reserve is engaging in quantitative easing is purely semantic, according to Alden, who says all roads lead to debasement. The US Federal Reserve is entering into a “gradual” era of money printing that will stimulate asset prices “mildly” but will not be as dramatic as the “big print” that many in the … Read more
Google worldwide search volume for “crypto” is hovering near one-year lows, reflecting weak investor sentiment amid a broad market downturn that reduced the total market capitalization of crypto from an all-time high of more than $4.2 trillion to about $2.4 trillion. Worldwide search volume for “crypto” is 30 out of 100 at the time of … Read more
Bitcoin’s drop below $70,000 is being seen very differently by long-time holders and institutional investors, according to Bitwise CEO Hunter Horsley. “I think long-time holders are feeling unsure, and I think the new investor set, institutions are sort of getting a new crack at the apple,” Horsley said during an interview with CNBC on Friday. … Read more
Bitcoin (BTC) gained up to 3% Sunday, but some traders refused to believe that the BTC price crash was over. Key points: Bitcoin price comparisons warn that new macro lows are due if the 2022 bear market continues to repeat. Moving averages and the cost basis of the US spot Bitcoin ETFs are in focus. … Read more
Jack Dorsey’s payments company Block Inc. has begun informing hundreds of employees that their roles could be eliminated during annual performance reviews, as the firm undertakes a wider restructuring effort. As much as 10% of Block’s workforce may be affected, Bloomberg reported on Sunday, citing people familiar with the matter. The company employed just under … Read more
Cathie Wood’s ARK Invest continued reducing its exposure to crypto exchange Coinbase on Friday, unloading $22 million worth of shares across multiple exchange-traded funds (ETFs) while adding to its position in digital asset platform Bullish. According to ARK’s trade disclosures, the firm sold 92,737 Coinbase Global shares from the ARK Innovation ETF (ARKK), 32,790 shares … Read more