Day: February 3, 2023

‘Crypto summer’ likely to start in Q2 2023, Morgan Creek Capital CEO says

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The next crypto bull market will start sooner than most people think, according to Mark Yusko, the founder and CEO of Morgan Creek Capital Management. Yusko thinks the next crypto bull run or, as he calls it, “the crypto summer,” could kick off as soon as the second quarter of this year due to the combination of more dovish central bank policies and the anticipation of the Bitcoin (BTC) halving.  While the United States Federal Reserve is unlikely to cut interest rates anytime soon, according to Yusko, the markets tend…

SHIB, DOT Remain Near 3-Month Highs, Despite Crypto Markets Falling – Market Updates Bitcoin News

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Shiba inu was one of Friday’s biggest gainers, as the meme coin remained close to a recent three month high. The token has been in the green for the majority of today’s session, despite the global cryptocurrency market cap falling 1.28% at the time of writing. Polkadot was also higher, as it continued to trade above a key price ceiling. Shiba inu (SHIB) Shiba inu (SHIB) was a notable mover on Friday, with prices remaining close to yesterday’s three month high. SHIB/USD rose to a high of $0.00001291 on Thursday,…

Value of WisdomTree’s crypto holdings fell 61.9% in Q4

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United States fund manager WisdomTree saw the value of its digital asset holdings decline sharply in the fourth quarter, reflecting the prolonged bear market in Bitcoin (BTC) and other cryptocurrencies.  WisdomTree’s cryptocurrency funds held $136 million worth of assets as of Dec. 31, 2022, down from $163 million at the beginning of the quarter and marking a $23 million depreciation, the company disclosed in its quarterly earnings report on Feb. 3. The funds witnessed only $4 million worth of redemptions or outflows during the quarter. Twelve months earlier, WisdomTree’s cryptocurrency…

Japan’s Largest Pension Fund Bleeding Money as Global Economic Turmoil Seeps Deep

While the Japanese government’s pension fund, the largest in the world posted its losses, there are a number of global business outfits that are recording similar losses. As the global economy continues to fight for resilience, the world’s largest pension fund, the Japanese Government Pension Investment Fund (GPIF) has recorded another quarter of loss as unveiled today. According to a report from CNBC, the GPIF reported a 0.97% loss on its investments in the quarter that ended December 31, 2022. The loss, which has a monetary value of 1.85 trillion…

Zodia Custody Teams Up With SBI Digital Asset Holdings to Form Crypto Custodian in Japan

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Binance Invests in Crypto Exchange GOPAX Years after South Korea Exit

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Binance, the world’s largest cryptocurrency exchange, has injected capital into distressed South Korean crypto exchange, GOPAX, two years after it shut down its subsidiary in the country due to low patronage. Bloomberg reports that the crypto exchange purchased a majority stake in GOPAX. At the start of the month, Finance Magnates reported that Binance was making plans to acquire GOPAX CEO Lee Jun-Haeng’s 41.2% majority shares in the crypto exchange. However, in a blogpost published on Friday, Binance only disclosed investing in GOPAX without stating the amount of injected capital.…

A Balancing Act of Growth and Cost – Bitcoin News

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Ethereum gas fees have increased 13.71% in the last two weeks, with the average fee rising from $4.52 per transaction to $5.14 per transfer on Feb. 3, 2023. Despite ethereum’s price seeing significant growth this year, its network’s gas fees have also seen a similar increase. As the demand for Ethereum’s capabilities continues to soar, it remains to be seen if these rising fees will ultimately hinder its growth. Ethereum Gas Fees Continue to Increase With a value of $1,701 per coin reached on Thursday, Feb. 2, 2023, ethereum (ETH)…