Economists Are Often Wrong Despite being presented as experts, economists have repeatedly made inaccurate predictions. For example, they claimed inflation was “transitory” and dismissed concerns about government spending leading to inflation. The Failure of Keynesian Economics Keynesian economics, once widely taught, has proven to be flawed. It suggests that government spending can stimulate economic growth,…
Banking giant JPMorgan Chase has disclosed that it holds approximately $760,000 worth of spot Bitcoin ETFs on behalf of its clients. Portfolio Breakdown The exposure is distributed across several Bitcoin ETFs, including: BlackRock’s iShares Bitcoin Trust (IBIT) ProShares Bitcoin Strategy ETF (BITO) Fidelity’s Wise Origin Bitcoin Fund (FBTC) Grayscale Bitcoin Trust (GBTC) Bitwise Bitcoin ETF…
Background Wells Fargo, a leading US bank, has disclosed that it now holds a spot Bitcoin exchange-traded fund (ETF) on behalf of its clients. This move signals a shift in the bank’s stance towards digital assets. Grayscale Bitcoin Trust (GBTC) The ETF held by Wells Fargo is the Grayscale Bitcoin Trust (GBTC), which was converted…
Binance, a leading cryptocurrency exchange, is set to launch trading support for NOT, a token associated with the popular Telegram-based game Notcoin. Launchpool Farming From May 13th to 16th, Binance users can stake BNB and FDUSD in separate pools to earn NOT tokens. The exchange will list NOT on May 16th. Seed Tag Binance will…
Ethereum gas fees have plunged to their lowest level in over two years, making it much cheaper to use the network. Dencun Upgrade Reduces Fees The Dencun upgrade has optimized network usage, leading to a significant drop in transaction fees. Asset swaps, cross-chain bridging, and NFT minting are now much more affordable. Impact on Ethereum’s…
Wells Fargo Invests in Bitcoin ETFs Wells Fargo, the third-largest bank in the US, has invested in various spot Bitcoin ETFs, including: Grayscale Bitcoin Trust (GBTC) ProShares Bitcoin Strategy futures ETF Shares in Bitcoin Depot Inc. This move signifies a growing trend among traditional financial institutions to invest in Bitcoin through regulated ETFs. BNY Mellon…
Ethereum’s Recent Struggles Ethereum has been struggling to recover its momentum from early 2024, hovering around $3,000. However, one trader believes that the coin’s current dip is a buying opportunity. Reasons for the Bearish Sentiment Sharp losses in mid-April Rejection from $2,800 Concerns about Bitcoin’s layer-2 ecosystems Potential SEC classification as a security Competition from…
BlockFi, a crypto lending platform, has closed its website and chosen Coinbase as its partner for customer fund withdrawals. Coinbase as Exclusive Partner Eligible BlockFi customers can withdraw their crypto through Coinbase after April 28, 2024. Those who missed the deadline or didn’t verify their identity by May 10, 2023, can still withdraw their assets…
Crypto analyst Justin Bennett warns that Bitcoin (BTC) could face a steep decline if it fails to hold support at $61,000. He believes that a break below this level could keep BTC in a downtrend for some time. On the other hand, if BTC can rally above $65,000 on the monthly chart, it would signal…
A crypto trader has made an astonishing 86,000% profit on an Ethereum-based memecoin investment. Investment Details According to blockchain tracker Lookonchain, the trader purchased $6,500 worth of the MAGA (TRUMP) memecoin in late 2023. Today, that investment is worth a staggering $5.6 million. Trump’s Pro-Crypto Remarks The sudden surge in value coincides with former US…
