July 21, 2022

Bitcoin NUPL Shows Average Holder Back In Profit, But For How Long?

July 21, 2022 boss

On-chain data shows the Bitcoin NUPL metric is back to a positive value, suggesting the market as a whole is back in profit. Bitcoin NUPL Latest Trend Could Signal The Bottom Is Already In As pointed out by an analyst in a CryptoQuant post, the BTC NUPL breaking above the neutral market may be a sign that the bottom has set in. The “Net Unrealized Profit/Loss” (or “NUPL” in short) is an indicator that’s defined as the difference between the market and realized caps, divided by the market cap. In…

DeFi Incubator Cumberland Lab Comes Out of Stealth Mode

July 21, 2022

“So legally, we’re a different company,” he said. “We have our own management, we make our own decisions. Having said that, we do benefit from the wisdom of our founders, but the idea is that we will be incubating and launching our own projects that will go out into the world, and not necessarily become captive projects for the DRW or Cumberland.” Source

What Tesla’s bitcoin sale means for the crypto outlook

July 21, 2022 boss

On Wednesday night Tesla reported in its second-quarter earnings that it sold 75% of its bitcoin holdings for $936 million. The company said it was to maximize its cash position amid Covid-related uncertainty in China. But the move comes about 18 months after the company shocked the financial markets by buying $1.5 billion worth of bitcoin, saying at the time in a filing that it believes in crypto’s “long-term potential” both as an investment and as a liquid alternative to cash. Bitcoin’s price subsequently rallied to its all-time high of…

Bulls or bears? Both have a fair chance in Friday’s Bitcoin options expiry

July 21, 2022 boss

Bitcoin (BTC) briefly broke above $24,000 on July 20, but the excitement lasted less than two hours after the resistance level proved more challenging than expected. A positive is that the $24,280 high represents a 28.5% increase from the July 13 swing low at $18,900. According to Yahoo Finance, on July 19, Bank of America published its latest fund managers survey, and the headline was “I’m so bearish, I’m bullish.” The report cited investors’ pessimism, expectations of weak corporate earnings and equity allocations at the lowest level since September 2008.…

Coinbase Criticizes SEC for Ineffective Cryptocurrency Regulations

July 21, 2022

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Jason Calacanis Is Right About ‘Grifting’ Crypto VCs (but Confused)

July 21, 2022

Now, Jason is not Chamath. Mere association doesn’t mean Calacanis bears responsibility for his colleagues’ potentially fraudulent activity (former PayPal exec David Sachs, also a cohost of Calacanis’ “All In” podcast, was also a backroom SOL buyer). Calacanis is also largely right in saying that a vast number of crypto tokens are outright scams, or at the least risky “prelaunch companies” that should come with more disclosures. Source

Crypto Layoffs: OpenSea, Blockchain.com, Coinbase, Gemini Among Firms Forced to Make Mass Job Cuts

July 21, 2022

As a bear market sweeps the crypto industry, CoinDesk is keeping a running list of industry players that have been forced to cut back on staff. Source link

Zipmex Confirms Loans Worth $53M to Babel and Celsius

July 21, 2022

“Ever since the black swan events surrounding the crypto space, Zipmex has retrieved the majority of our funds and assets that were historically deposited with our deployment partners and have been actively working to resolve the situation for the remaining outstanding assets,” according to the statement. Source

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July 21, 2022

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US Lawmaker Slams SEC for Not Regulating in Good Faith — ‘Under Chair Gensler, SEC Has Become Power-Hungry’ – Regulation Bitcoin News

July 21, 2022 boss

A U.S. congressman has slammed the Securities and Exchange Commission (SEC) and Chair Gary Gensler for cracking down on companies outside the SEC’s jurisdiction. The SEC “is not regulating in good faith,” he said, adding that “Under Chair Gensler, the SEC has become a power-hungry regulator.” Rep. Emmer Slams SEC and Chair Gensler The director of the Division of Enforcement at the U.S. Securities and Exchange Commission (SEC), Gurbir Grewal, testified Tuesday before the U.S. House of Representatives Committee Financial Services’ subcommittee on Investor Protection, Entrepreneurship, and Capital Markets. During…