Day: January 24, 2023

Surojit Chatterjee to retain 249,315 shares of Coinbase stock after departing company

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Surojit Chatterjee, the former chief product officer at Coinbase, will officially leave the company on February 3rd after reportedly making an estimated $105 million in stock sales.  According to disclosures filed with the Securities and Exchange Commission, Chatterjee will also retain 249,315 shares of Coinbase stock. At the time of publication, Coinbase stock was valued at $54.28 per share, by Google Finance.  Chatterjee joined Coinbase from Google in February 2020 with a salary of just under $1 million per year. In recognition of Chatterjee’s contributions to the company, Coinbase and…

Finder’s Experts Predict Bitcoin to Peak at $29K in 2023, But Forecast a Low of $13K  – Markets and Prices Bitcoin News

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The price of bitcoin is set to rise in 2023, but crypto and fintech experts chosen by the product comparison web portal finder.com do not believe the leading digital asset will break the $30,000 range this year. Finder’s panel of 56 specialists convened to give their 2023 bitcoin price forecast, and the panelists suggest bitcoin will peak at $29,095 this year. Experts Weigh in on Bitcoin’s Future Price: Will it Reach Six-Digit Prices by 2030? Finder.com has conducted another report that aims to predict bitcoin’s future price with 56 experts…

New ‘Celsius token’ may be used to repay creditors: report

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Bankrupt crypto lending firm Celsius may issue its own token to repay creditors, according to a January 24 report from Bloomberg. The report cites a video court hearing as the source of the information. According to the report, Celsius attorney Ross M. Kwasteniet told the court that the firm is negotiating with its creditors on how to relaunch the platform and adequately pay them back. The new, relaunched version would be “a publicly-traded company that is properly licensed,” which could allegedly provide more money for creditors than simply liquidating the…

Ethereum futures and options data reflect investors’ growing confidence in ETH price

The price of Ether (ETH) rallied 16% between Jan. 14 and Jan. 21, peaking at $1,680 before facing a 5.4% rejection. Curiously, the same resistance level resulted in a substantial correction in late August 2022 and again in early November 2022.  Ether/USD price index, 2-day. Source: TradingView From one side, traders are relieved that Ether is trading up 35.5% year-to-date, but the repeated corrections that follow retests of the $1,680 resistance may have weakened investors’ sentiment. Negative newsflow might have limited Ether investors’ appetite after troubled cryptocurrency company Digital Currency…

Crypto Infrastructure Firm Blockstream Raises $125M for Bitcoin Mining

“This fundraise allows us to accelerate the [year-over-year] revenue growth we created with our 2021 Series B and continue to build infrastructure for the future Bitcoin economy,” said Blockstream President and Chief Financial Officer Erik Svenson. “We remain focused on reducing risk for institutional bitcoin miners and enabling enterprise users to build high-value use cases on the most secure, robust and scalable blockchain in the world – Bitcoin,” he added. Source

Chiliz (CHZ) Records Significant Gains, Moves Over 5%

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The global cryptocurrency market cap stands at $1.05 trillion, representing a 0.19% increase in the last day. As the cryptocurrency market continues to rally, altcoins are posting incredible gains. For instance, Chiliz’s price is gaining today, reflecting the positive moves of the general market. CHZ’s trading volume has also increased by 82.02% in 24 hours, showing rising interest among investors. CHZ is among the top gainers today, recording an almost 6% increase in value. The asset has outperformed market leader Bitcoin today, which recorded a 0.02% increase in 24 hours.…

Blockstream raises $125M to finance expanded Bitcoin mining operations

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Digital asset infrastructure company Blockstream has raised $125 million to finance its Bitcoin (BTC) mining colocation services, underscoring heightened demand for its institutional hosting services amid the bear market.  The $125 million raise was financed by convertible note and a secured loan, Blockstream announced on Jan. 24. Venture capital firm Kingsway Capital led the convertible note raise, with additional participation from Fulgur Ventures. Cohen & Cohen Capital Markets, part of J.V.B. Financial Group, advised Blockstream on the deal. The funding will enable Blockstream to expand mining capacity for institutional hosting…

UK gov’t is hiring a central bank digital currency lead for Treasury team

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HM Treasury in the United Kingdom has begun calling for applicants to lead the central bank digital currency team behind efforts towards a digital pound. In a job posted to LinkedIn on Jan. 24, the U.K. Treasury called for a team lead for its Payments and Fintech Team of roughly 20 people focused exploring on a “potential digital pound”. According to the posting, the CBDC head would determine the “strategic direction” for Treasury’s efforts to develop a digital currency in line with the government’s agenda, as well as analyze potential…