Key takeaways: Bitcoin price is down 17% from its all-time high on Tuesday, dropping under $104,000. Crypto liquidations totaled $1.3 billion in losses over the past 24 hours. Traders say Bitcoin needs to quickly reclaim $105,000 to avoid a deeper correction toward $100,000. Bitcoin (BTC) bears extended the sell-side activity into the European Trading session … Read more
The bankruptcy estate of the defunct crypto exchange FTX has abandoned the motion seeking to limit creditor distributions to “potentially restricted foreign jurisdictions.” The FTX Recovery Trust on Monday filed a notice withdrawing its motion for entry of an order in support of the confirmed plan authorizing it to implement restricted jurisdiction procedures in potentially … Read more
Opinion by: Neeraj Srivastava, chief technology officer at MNEE When they first emerged, stablecoins were pitched as a revolution in payments. Traditional banking rails often take one to four days to settle debit card transactions (and weeks for wire transfers) and charge you a hefty sum for the service. Stablecoin settlements wouldn’t just be faster … Read more
Crypto treasury company Strategy has filed for an initial public offering of a euro-denominated perpetual stock amid its ongoing strategy to accumulate Bitcoin. Strategy said on Monday that it plans to offer 3.5 million shares of the stock under the ticker STRE, with the net proceeds from their sales being used to buy Bitcoin (BTC) … Read more
Cathie Wood’s ARK Invest increased its position in Bullish crypto exchange on Monday, purchasing about 238,000 shares worth around $12 million across its flagship funds. According to ARK’s daily trade disclosures, the ARK Innovation ETF (ARKK) bought 164,214 shares, the ARK Next Generation Internet ETF (ARKW) added 49,056 shares, and the ARK Fintech Innovation ETF … Read more
Decentralized finance platform Stream Finance says it has paused deposits and withdrawals after an external fund manager overseeing its funds found a $93 million loss in its assets. The Stream Finance team said in an X post on Monday that the fund manager reported the loss on Sunday and the project has since hired lawyers … Read more
Opinion by: Aishwary Gupta, global head of payments and RWAs at Polygon Labs Most of the eye-popping RWA numbers making headlines are smoke and mirrors. Unless the industry course-corrects, it risks eroding the institutional trust it has spent years trying to build. Every week brings another announcement claiming billions in tokenized assets. When institutional investors … Read more
US crypto and AI czar David Sacks argues that the biggest risk AI poses is not a Terminator-style revolt, but rather a dystopian future where AI spies on the population and controls what information people see. Speaking on a Monday episode of a16z’s podcast, The Ben & Marc Show, Sacks discussed the Trump administration’s approach … Read more
Crypto market sentiment took a major fall on Tuesday after Bitcoin briefly fell below $106,000 for the first time in over three weeks. The Crypto Fear & Greed Index on Tuesday dropped by half from the day before to a score of 21 out of 100, indicating “Extreme Fear” in the crypto market. Bitcoin (BTC) … Read more
Wintermute CEO Evgeny Gaevoy has refuted rumors that his market maker platform plans to sue Binance over losses incurred from the Oct. 10 market crash, which wiped out around $20 billion in leveraged positions across the market. “We never had plans to sue Binance, nor see any reason to do it in future,” Gaevoy posted … Read more