Former presidential candidate, member of the United States Democratic Party, Andrew Yang, has filed paperwork to run in the upcoming 2021 New York mayoral race. Yang has previously called for more transparent and uniform regulation around cryptocurrency. Andrew Yang to Run for New York City Mayor in 2021 Earlier this year, Yang’s bid to the...Read More
Bitcoin continues to be a digital asset with great demand in the market and retail and institutions are in a race to get their hands on as many BTCs as possible. From the institutional side, Grayscale has been filling its Bitcoin bag with more and more BTC like many others. According to a recent update,...Read More
Institutional interest in Bitcoin may have led to new highs but miners have always emerged as the main proponents of Bitcoin price rallies. Such was the case in 2017 and in 2020, there have been a few signs from miners’ involvement in the price rally. Bitcoin miner’s outflow has dropped over 68% since November 2020...Read More
United States Securities and Exchange Commission (SEC) today issued a statement and requested for comment on the issue of “custody of digital asset securities by broker-dealers.” The federal agency believed this would encourage innovation around the application of Securities Exchange Act Rule to digital asset securities. According to the Commission, a broker-dealer operating under certain...Read More
Bitcoin trading above the $23000 level quickly caught up with retail traders and became the new norm on spot exchanges. When the price dropped below the ATH, the narrative of buy the dip meant buying above $22000, and this price range was the new dip. However, the cryptocurrency market is fast, and traders may have...Read More
Canadian miner Bitfarms deployed 1,000 Whatsminer M31S mining rigs. Additionally, the firm will soon acquire 3,000 Whatsminer M31S+ miners which will arrive in late February next year. The firm said this would amp up computing power and drive the growth of DeFi economy. With the addition of these new miners, Bitfarms’ total operating hashrate will...Read More
Soon after Ripple CEO Brad Garlinghouse said that SEC was planning to sue the firm over its sale of XRP, Billionaire investor and Galaxy Digital founder Mike Novogratz took to Twitter to speak about the recent developments. On 22 December, Novogratz said that he found it strange that Jay Clayton “waited years” to sue Ripple....Read More
As Bitcoin’s price rallied above $24000 and hit a new ATH, it garnered most of the institutional and retail attention this week and over the past weekend as well. With all focus on Bitcoin, investment flow into altcoins dried up. With dropping demand, altcoin trader profits bled based on data on top 10 altcoins based...Read More
Craig Wright’s wife Ramona Ang won a legal battle with fintech firm Reliantco that operates crypto exchange UFX. According to court documents, Ramona Ang alleged that she lost bitcoin worth about $3 million after UFX terminated her account on the platform. Ang also claimed that the exchange did not return her funds after it closed...Read More
With Bitcoin trading above $22600, at the time of writing, the conversation regarding a Bitcoin ETF has started all over again. After all, there are well-developed Bitcoin ETF, ETP markets in Switzerland, ETNs in Sweden, and Germany’s new ETP now stands at $190 Million. Matt Hougan, CIO at Bitwise was quoted talking about Bitcoin ETFs...Read More
When Bitcoin traders make mortgage payments using a debit card so they can earn cashback in Bitcoin, and call it a cheat code in life, it may be time to check the charts for a price peak. Bitcoin’s price recently crossed $24000 and after hitting a peak, the asset is now trading above $22800 at...Read More
In a Bitcoin-related kidnapping event in Karnataka, India, abductors asked for a 100 BTC ransom for the son of a local businessman and crypto investor. The police managed to capture six suspects on the case, which were all related to the victim’s family. 100 BTC for The Son of A Crypto Investor An eight-year-old boy...Read More
Following the impressive list of institutional investors who have put their funds into bitcoin in 2020, it appears that more big names are showing interest in the number one crypto asset, after a global investments firm filed with the U.S. SEC to launch a bitcoin fund for accredited investors. According to an SEC document on...Read More
CoinDCX, India’s largest cryptocurrency exchange, has raised Rs 100 crores ($13.9 million) from investors to complete the exchange’s third round of seed funding for the year 2020. The Series B round was led by Block.one and included investors such as DG, Jump Capital, Uncorrelated Ventures, Coinbase Ventures, Polychain Capital, Mehta Ventures, and Alex Pack. Back...Read More
US Securities and Exchange Commission filing stated that Anthony Scaramucci intends to launch a new bitcoin fund – named SkyBridge Bitcoin Fund L.P- which has been incorporated in the state of Delaware. The filing detailed that Scaramucci, as well as Brett Messing, a partner at SkyBridge Capital, would hold executive roles at the fund. Additionally,...Read More
Tether’s market capitalization has mushroomed from $2 billion in February 2019 to $20 billion, at the time of writing. What went behind this 10x growth varies across a host of factors, namely, the increase in OI and trade volume in Bitcoin and the rise of DeFi. It is a story within which several other stories...Read More
Grayscale Investments has temporarily disabled purchase of new shares for Bitcoin, a Twitter user pointed out today. The firm has also stopped the purchase of shares of other cryptocurrencies such as Ethereum, Litecoin, Ethereum Classic, and Bitcoin Cash. However, the company is still offering crypto shares for Zcash, XRP, and Horizen. Image Source: Twitter Grayscale...Read More
With Tether’s dropping reserves having an impact on Bitcoin’s price, Coinbase-backed stablecoin USDC’s steadily climbing reserves may do the same. According to USDC’s hourly mean inflow charts, the inflows have increased in steps on the exchange, based on data from CryptoQuant. This is directly linked to further price movement in Bitcoin as whales and institutions...Read More
MicroStrategy’s CEO Michael Saylor took to Twitter to announce that the firm has purchased an additional ~29,646 Bitcoins for about $650 million “in cash in accordance with its Treasury Reserve Policy.” The CEO disclosed that the firm made the purchase at an average price of approximately $21,925 per Bitcoin. To date, the firm holds an...Read More
While Bitcoin is surging like there’s no tomorrow, altcoins are doing nothing but bleed. Going by the popular adage “Buy when there’s blood on the streets,” let’s look for an investment opportunity in altcoins since they have been dropping since Bitcoin started its rally. For the purpose of the same, let’s determine if the market’s...Read More
When Elon Musk was breaking Crypto-Twitter with his Bitcoin memes, most retail traders were waiting for this banter to take Bitcoin’s price discovery to the next level. While this did not happen, when observed closely, it can be seen that this interesting Twitter thread is more than just friendly banter between the two billionaires, Saylor...Read More
The Puerto Rico Office of the Commissioner of Financial Institutions (OCIF) has granted permission to FV Bank to provide custody services for cryptocurrency assets such as Ethereum and Bitcoin. The institution plans to integrate the new service into its digital banking platform as of early 2021. FV Bank Granted Permission To Be A Crypto Custodian...Read More
Analysts from the US multinational investment bank JPMorgan Chase & Co have doubled-down on their belief that institutional inflows towards bitcoin are crucial for the asset’s price. They warned that if their purchases decline, the cryptocurrency could head towards a violent correction. JPMorgan Confirms: Institutions Are Key For Bitcoin While most financial assets have suffered...Read More
MicroStrategy broke the silence when it invested in Bitcoin. It changed how institutions viewed Bitcoin from an investment perspective. From skeptics criticizing [critiquing] Michael Saylor and MicroStrategy’s investment decision to the very same people dipping their toes in Bitcoin investments, things have changed for the better in the last quarter. However, was MicroStrategy’s decision good?...Read More
Bitcoin’s latest bull run has made history, with the cryptocurrency’s price touching never-before-seen levels day after day. In fact, the past 24-hours alone saw BTC surge to breach the $24,000-mark on some crypto-exchanges. Following Bitcoin’s rally, a new all-time high (ATH) for Total Value Locked (TVL) in DeFi was also marked, with the same going...Read More
Bitcoin’s price movements are critical to Bitcoin’s adoption and price trend, especially since many new traders are just entering the market on spot exchanges. While seasoned traders may be looking for a place to park funds, make trades, and identify the right exchange that facilitates such a trade, their trade decisions are based on key metrics...Read More
Price discovery beyond $20,000 was a pipe dream for both institutional and retail traders two weeks ago. Now, with Bitcoin trading at $23,511 at the time of writing, there is a lot of anticipation around further price discovery. Interestingly, Bitcoin’s mean transaction volume (2d MA) has fallen significantly in the past 24-hours, with the current...Read More
Disclaimer: The findings of the following analysis are the sole opinion of the writer and should not be taken as investment advice Bitcoin has seen a good surge since September began. In fact, the price surge has been more than a hyperbole since 12 December. Although not surprising, this surge could be something to be wary...Read More
Bitcoin’s decoupling with Gold and its inverse relationship with stocks has been covered widely by mainstream media. The missing link is its impact on U.S Government bonds. Previously considered to be a non-issue, the negative yields on government bonds have got on-chain analysts and investors thinking about this perspective. Preston Pysh is one of them,...Read More
Michael Saylor, CEO of MicroStrategy and the man who put $800 million in Bitcoin this year, is possibly one of the strongest advocates for the bullish narrative around Bitcoin, despite his skepticism about the same a few years ago. Unsurprisingly, today he is of the opinion that more institutions should make allocations to the crypto-asset,...Read More
