After disappearing from the spotlight following the FTX collapse, Sam Trabucco has resurfaced to endorse Ryan Salame, a former FTX executive awaiting sentencing. Trabucco’s Endorsement In a letter submitted to the court, Trabucco described Salame as his “funniest, most passionate, most supportive friend.” This is Trabucco’s first public communication since FTX’s bankruptcy in November 2022….
Electrical Cost vs. Miner Price Bitcoin miners are facing a situation where their revenue (Miner Price) is falling below their electricity costs (Electrical Cost). This has happened only four other times in the past decade. How Miner Price Works Miners earn revenue from block rewards (BTC) and transaction fees. Transaction fees are divided by the…
New CEO Appointed Vijay Chetty, formerly the Chief Growth Officer, has taken over as CEO of Eclipse Labs, replacing founder Neel Somani. Allegations of Misconduct Somani’s departure follows allegations of sexual misconduct against him. Eclipse Labs has stated that they take these allegations seriously and are committed to maintaining high standards. Industry Response The crypto…
Multi-Million Dollar Investment Morgan Stanley, a major investment bank, has revealed its significant investment in Bitcoin exchange-traded funds (ETFs). The bank holds over $269 million in Grayscale Bitcoin Trust (GBTC) and 31,712 shares of Ark Invest’s ETF. This investment makes Morgan Stanley one of the largest holders of GBTC shares and a top investor in…
New Listing on the Horizon Coinbase, the leading crypto exchange in the US, has added Drift Protocol (DRIFT) to its listing roadmap. This Solana-based decentralized exchange (DEX) offers non-custodial trading and advanced risk management features. Features of Drift Protocol Drift Protocol prioritizes capital efficiency and asset protection. It employs a cross-margined risk engine to prevent…
Price Drops Below Bullish Support Crypto analyst Benjamin Cowen has issued a bearish warning for Ethereum (ETH). According to Cowen, ETH has fallen below a key indicator known as the Bull Market Support Band (BMSB). This band is a combination of two moving averages used to determine if an asset is in a bullish or…
Galaxy Digital CEO Mike Novogratz predicts that upcoming “market events” will drive Bitcoin (BTC) and other cryptocurrencies to new heights. Consolidation Phase According to Novogratz, Bitcoin, Ethereum (ETH), Solana (SOL), and other digital assets are currently in a consolidation phase, trading within a range of $55,000 to $75,000. This phase is expected to continue until…
On-chain analyst Willy Woo predicts a major Bitcoin rally in the coming months, potentially breaking records. Reasons for Optimism Increased global liquidity: This tends to benefit risky assets like Bitcoin. Bitcoin halving: The halving event, which occurred in April, removes inefficient miners, reducing sell pressure and potentially boosting demand. Timing Woo expects the rally to…
Hashrate Hiccup or Miner Exodus? After a surge in Bitcoin’s hashrate (computational power) following the block reward halving in April, it has unexpectedly dropped by 20%. This has sparked speculation about a potential “miner capitulation,” where less efficient miners are shutting down operations due to reduced profits. Hash Ribbons Flash Warning Hash Ribbons, a technical…
Inflation Data Surprise The Consumer Price Index (CPI) data released on May 15 showed inflation was lower than expected, coming in at 0.3% instead of the forecasted 0.4%. This suggests that inflation may be slowing down in the US. Institutional Investments Reports indicate that notable institutions are investing heavily in Bitcoin. The State of Wisconsin…
