“As the stablecoin market continues to develop, with more formalized rules around governance, risk management and structure, it could provide sizable upside potential to our Silvergate earnings per share (EPS) estimates, particularly if Silvergate is able to monetize their relationships with the stablecoin issuers,” Morgan Stanley analyst Ken Zerbe wrote in a note. Source
Bitcoin and select altcoins are facing selling at higher levels, indicating that short-term traders may be booking profits after the recent rally. Bitcoin’s (BTC) rally above $50,000 seems to have received a boost from institutional buyers who are looking to hedge their portfolio against increasing inflation, said JPMorgan in a note to its clients on Oct. 7. The bank’s analysts speculated that institutional investors may be preferring Bitcoin over gold as a better hedge against inflation. A recent study titled “Cryptocurrencies and the Sharpe Ratio of Traditional Investment Models” by…
Dfinity founder Dominic Williams believes content creation platforms like OnlyFans are ripe for disruption now that decentralized technologies have become mainstream. He’s inviting developers to build a blockchain-driven content platform on Internet Computer (ICP) — a powerful general-purpose blockchain launched by Dfiniity Foundation earlier this year. In an interview with Cointelegraph, Williams discussed recent attempts by financial institutions to censor adult content creation on OnlyFans, as well as the general outlook on smart contract platforms. Creator-driven platforms are ideal for decentralization In August of this year, major financial institutions such…
The fund, “BlockFi Bitcoin Strategy ETF,” would only invest in futures contracts traded on the CME, according to regulatory filings. It would be registered under the so-called ‘40 Act. Those attributes are in line with a hypothetical bitcoin ETF that SEC chair Gary Gensler has hinted may finally receive the long-sought approval. Source
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Despite the Ethereum burn introduced with the London hard fork, miners are still making a good amount of revenue from mining. For ETH, the balance held by miners had been dropping since 2016. This was mostly a combination of poor market conditions and miners selling their holdings to fund their mining activities. With low prices, the total dollar value of miners’ ETH holdings had dropped. This number picked back up in 2021. Following the bull run which began in 2020, the price of Ethereum has gradually recovered. And by extension,…
A subsidiary of the blockchain software provider Powerbridge Technologies, Powercrypto Holdings, have announced the launch of a sustainable cryptocurrency mining initiative for Bitcoin (BTC) and Ethereum (ETH) in Hong Kong. The company plans to deploy a total of 2,600 first-grade mining rigs, comprising of 600 BTC mining machines operating at a hashrate of 60 PH/s, as well as a further 2,000 ETH mining machines which harness a hashrate power of 1,000 GH/s. According to the announcement, Powercrypto’s ultimate ambition with the inauguration of this venture is to increase the BTC and…
Some non-fungible tokens (NFTs) come with exclusive perks. A project helping holders monetize those benefits – all while maintaining long-term ownership – has raised $1.5 million in a seed round led by Animoca Brands. ReNFT announced the funding round on Friday. In addition to Animoca, the year-old decentralized autonomous organization (DAO) behind the rentable NFT platform is now backed by Lattice Capital, Play Ventures, MetaCartel Ventures, Scalar Capital, LongHash Ventures, SkyVision Capital, Fedora Capital and Maeve Ventures. The Ethereum-based project recently facilitated the lending of Stoner Cats, an NFT collection whose…
Having trained as a lawyer was of great assistance, particularly because so many blockchain enthusiasts and entrepreneurs may have been simultaneously breaking securities law, immigration law, corporate law, tax law and labor law. It was like one big issue-spotting examination. But the technical issues were far beyond my comfort zone. For that I relied on my new mentor, my boss from China who was literally half my age. Working with him was part Master’s degree in disruptive industries, part cultural competencies crash course, and part internship in Chinese regulation. He…
Ethereum’s native token Ether (ETH) is at risk of falling below $3,200 in the coming sessions as its rally comes face-to-face with a strong resistance zone. In detail, the price of Ether swelled by almost 22% on a month-to-date timeframe in the wake of a market-wide price rally. That pushed the second-largest cryptocurrency by market capitalization from under $3,000 to above $3,650 in the first eight days of October, triggering more bullish forecasts. “Six thousand dollars will happen fast; $10,000 is programmed,” noted Twitter-based technical chartist Crypto Cactus. David Gokhshtein, CEO…