Day: December 13, 2022

SEC looks to intercept Grayscale Bitcoin ETF review bid

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The United States Securities and Exchange Commission (SEC) is taking further steps to stop Grayscale Investments’ efforts to launch a Bitcoin (BTC) exchange-traded fund (ETF). Grayscale began its legal challenge of the SEC’s denial order of the proposed investment product in June 2022. A 73-page brief filed with the U.S. Court of Appeals for the District of Columbia Circuit on Dec. 9 saw the SEC lay out the reasoning for its initial decision to bar Grayscale’s request to convert its existing Bitcoin Trust into a spot Bitcoin ETF. The SEC…

GoTo Gojek Shares Soar 14% after Week-Long Selloffs

The struggles GoTo Gojek is facing at this time take precedence from the economic strain that has left many tech stocks to take a plunge for the better part of this year. There is an interesting twist in the shares performance of Indonesian internet company GoTo Gojek Tokopedia PT Tbk (IDX: GOTO) as Tuesday’s trading session ended with a massive gain. At the time of writing, GoTo Gojek shares are up by 14.94% to 100 Rupiah, paring off the accumulated losses it has printed over the past week. GoTo Gojek…

Bitcoin Miner TeraWulf Sees 33% Drop in Stock Price after Agreement with Bitmain

Bitmain said that it will be replacing the previous batch with 14,000 S19j Pro miners for delivery by the first quarter of 2023 at no additional cost to TeraWulf.  Bitcoin mining companies have been facing major operational challenges amid the crypto winter this year. As a result, the stock price of several public-listed Bitcoin mining companies has been heading south. On Monday, December 12, the stock price of Bitcoin miner TeraWulf (NASDAQ: WULF) dropped by a staggering 33% dropping all the way to 80 cents. This happened as the Bitcoin…

Bitcoin Miner Terawulf Raises $10M in Fresh Capital to Pay Down Debt, Restructures Deal With Bitmain – Mining Bitcoin News

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On Monday, Dec. 12, 2022, the Maryland-based bitcoin mining company Terawulf announced that the firm has raised $10 million in capital to pay down debts. The firm also said that it restructured a deal with Bitmain which will enable the company’s self-mining capacity to expand and fully leverage the 160 megawatts of Terawulf’s available mining capacity. Terawulf Raises $10 Million in New Capital, Restructured Bitmain Deal Will Give the Firm 8,200 ASIC Mining Rigs Bitcoin miners have been struggling this year as the price of bitcoin (BTC) has reduced profits…

Binance exchange daily BTC withdrawals top $500M as CZ says ‘FUD helps us grow’

Bitcoin (BTC) withdrawals from largest crypto exchange Binance have passed $500 million in the past 24 hours as its CEO calls out “FUD.” Data from on-chain monitoring resource Coinglass shows that Binance’s BTC balance decreased by over 30,000 BTC into Dec. 13. CZ: FUD is “thoroughly annoying” The latest hotspot for fallout from the FTX debacle, Binance has joined exchanges seeing an exodus of user funds. According to Coinglass, users withdrew 30,300 BTC ($515 million) in the 24 hours to the time of writing, this accounting for the majority of the…

Binance exchange daily BTC withdrawals top $500M as CZ says ‘FUD helps us grow’

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Bitcoin (BTC) withdrawals from largest crypto exchange Binance have passed $500 million in the past 24 hours as its CEO calls out “FUD.” Data from on-chain monitoring resource Coinglass shows Binance’s BTC balance decreased by over 30,000 BTC into Dec. 13. CZ: FUD is “thoroughly annoying” The latest hotspot for fallout from the FTX debacle, Binance has joined exchanges seeing an exodus of user funds. According to Coinglass, users withdrew 30,300 BTC ($515 million) in the 24 hours to the time of writing, this accounting for the majority of the…

Coinbase Saw 66% Jump in Law Enforcement Requests Last Year

Amid the crypto winter of 2022 and major bankruptcies this year 2022, law enforcement agency requests have doubled at Coinbase. On Monday, December 12, crypto exchange Coinbase reported that the total number of law enforcement requests has skyrocketed by a staggering 66% through the year ending September 30. The exchange released its transparency report which showed that a majority of the requests i.e. 43% came from the US. This was ultimately followed by the UK, Spain, and Germany. As of now, crypto exchange Coinbase serves nearly 108 million customers from…

Gold Will Outperform Bitcoin in Long Term

While both assets fell sharply in the past year, spot gold is up marginally year-on-year by about 0.23%. Comparatively, Bitcoin has plunged by more than 60%. Goldman Sachs has suggested that Gold will outperform Bitcoin long term owing to its drivers. The bank noted on Monday that the precious metal provides a better way to diversify one’s portfolio than the crypto asset. According to the bank, gold is less likely to be affected by tighter financial conditions like Asian consumer buying, central bank monetary demand, safe-haven investments, and industrial applications.…