Rollercoaster Ride Bitcoin’s price took a wild ride yesterday, reaching a high of $73,000 before a sharp drop caused by liquidations. Long position holders were hit hard, losing over $258 million. However, Bitcoin quickly recovered, wiping out $103 million in short positions. Record ETF Inflows Investors jumped on the opportunity to buy Bitcoin ETFs, driving…
Why It Happened The US Securities and Exchange Commission (SEC) has rejected SkyBridge Capital’s application for a Bitcoin Spot Exchange-Traded Fund (ETF). According to the SEC, SkyBridge failed to comply with a warning under Rule 479, which requires issuers to amend or withdraw incomplete applications within a certain time frame. SkyBridge’s History with Bitcoin ETFs…
Ethereum (ETH) has been on a roll, exciting investors but also raising concerns. Positive Factors ETF Approval: The potential approval of an Ethereum ETF could bring in billions of dollars from institutional investors. Bitcoin Halving: The upcoming Bitcoin halving could boost the entire crypto market, including Ethereum. Increased Short-Term Holders: Data shows a surge in…
Crypto analyst Jason Pizzino is raising red flags for XRP holders, warning that the cryptocurrency has been underperforming for years. Six Years of Disappointment Pizzino points out that those who have held onto XRP since 2018 have largely experienced losses. While the coin may see some gains during the current bull market, so will other…
Lower Fees and Fractional Ownership Grayscale Investments, the company behind the popular Grayscale Bitcoin Trust (GBTC), has filed with the Securities and Exchange Commission (SEC) to register a new product: the Grayscale Bitcoin Mini Trust. This spin-off of GBTC will allow investors to hold fractional units of ownership in the trust. According to reports, it…
A British digital asset firm, Copper Technologies, allegedly transferred over $4.2 million in cryptocurrency to a wallet belonging to Jonatan Zimenkov, a Russian national later sanctioned by the US for his alleged role in Russia’s invasion of Ukraine. Sanctions on Zimenkov In February 2023, the US Treasury Department imposed sanctions on Zimenkov and his father,…
Launchpool Project Binance will soon support a new decentralized finance (DeFi) staking protocol, ether.fi (ETHFI), through its Launchpool platform. Users can stake BNB and FDUSD to earn ETHFI tokens over four days starting March 14, 2024. ETHFI Protocol ETHFI aims to provide a secure way to stake Ethereum while maintaining self-custody. Binance has assigned a…
Profiting from the Bull Run Bitcoin has been on a wild ride lately, and it’s making investors a lot of money. According to Binance, everyone who’s bought Bitcoin is now in the green, even those who bought at the previous high of $69,000 in 2021. El Salvador’s Success Story El Salvador jumped on the Bitcoin…
Canadian rapper Drake has introduced Bitcoin to a massive audience by sharing a clip from Michael Saylor’s CNBC interview on his Instagram. Drake’s Bitcoin Endorsement Drake shared a 15-second clip where Saylor discusses Bitcoin’s superiority over gold and its potential to transform the financial landscape. Drake captioned the post “Michael Saylor on Bitcoin,” reaching over…
Patient Capital, an asset manager with over $1.8 billion in assets, is planning to invest up to 15% of its funds in Bitcoin ETFs. Shift to Bitcoin ETFs The move signals a shift from the Fund’s previous focus on Grayscale’s Bitcoin Trust. Patient Capital will now invest in Bitcoin ETFs registered under the Securities Act…
