The cost of holding a bullish long position in perpetual futures tied to bitcoin has jumped to the highest since the dizzy bull market days of late 2021. Source
Bitcoin Market Sentiment Is Most Bullish in 14 Months With U.S. Jobs Report Due
Day: February 3, 2023
Only Four Men Control 86% of All Tether (USDT) Assets in 2018
Tether CTO has rejected WSJ’s investigative report calling it a “clown article”. The report highlights the massive concentration of USDT control in the hands of a few. On Thursday, February 2, the Wall Street Journal published an investigative report highlighting the highly polarized distribution of USDT control by Tether founders. This is yet another report over the years of allegations put on Tether, which operates the world’s largest USDT stablecoin with $68 billion in circulation. The documents refer to the 2021 probes of Tether by the New York Attorney General…
Mastercard NFT Product Lead Quits, Says He Felt Neglected
The Product Lead at Mastercard said that he was a victim of harassment & emotional distress caused by a series of mismanaged processes, miscommunication, and internal inefficiency. On Thursday, February 2, Satvik Sethi – the non-fungible tokens (NFT) product lead at Mastercard – resigned from his role while minting his resignation letter from the global payments giant, in the form of an NFT. In a series of tweets, Sethi explained his decision of leaving adding that it “wasn’t easy”. Sethi further explained that he would continue to focus and also…
eBay Opens Multiple NFT Roles amid Its Expansion into Web3 Space
With the current open NFT-related roles, it is clear that eBay will further explore the Web3 space. While tech companies are struggling and laying off employees to cut spending, e-commerce giant eBay Inc is hiring. Recently, eBay has opened a list of positions for roles related to the non-fungible token (NFT) technology and Web3 space. The initiative reflects eBay’s focus on KnownOrigin.io, an Ethereum-powered digital art marketplace acquired by eBay back in June 2022. Interested in joining our team? You’re in luck!We have multiple new positions now available. For more information please visit:https://t.co/TLhs7gf6Qb#NFTs #eBay #KnownOrigin —…
Sam Bankman-Fried Family Subpoenas Opposed by US Government in FTX Bankruptcy Filing
The plans, set to be discussed at a Wednesday hearing, would duplicate any independent examination of the exchange’s downfall, U.S. Trustee Andrew Vara said in a legal filing made Thursday. An independent examiner has yet to be appointed. The examiner issue will be discussed at a Monday hearing, with new FTX Chief Executive Officer John Ray set to give testimony. Source
Finnish Firm Membrane Finance Launches EU-regulated EUROe Stablecoin
EUROe allows easy-to-monitor and instant payments across the globe at non-zero cost. Finnish fintech organization Membrane Finance has inaugurated EUROe, Europe’s first and exclusive EU-regulated full-reserve stablecoin and payment network. EUROe converts a fiat Euro into a one-to-one pegged digital currency transactable on Ethereum, with prepared backing for an increasing number of blockchains. One EUROe stablecoin will always be one Euro. For every EUROe rolled out, at least one fiat Euro is present in a European Financial Establishment or bank, ring-fenced from Membrane Finance. The international Payments industry helps approximately…
Coinbase (COIN) Stock Pops Up 26% after Dismissal of Lawsuit
The Coinbase stock has rallied by more than 142% year-to-date as of Thursday’s closing. Stocks of several crypto firms witnessed a healthy recovery last month. On Thursday, February 2, public-listed crypto exchange Coinbase Global Inc (NASDAQ: COIN) saw its stock price shoot up by a staggering 26% after the dismissal of a class-action lawsuit against the company. As of yesterday’s closing, the stock price was trading at $81.46 The lawsuit filed in federal court in New York in October 2021, accused Coinbase of selling 79 digital assets as unregistered securities.…
Egyptian Lawmakers Hail Parliament’s Endorsement of Pact to Join BRICS Bank – Economics Bitcoin News
Egyptian lawmakers recently hailed the parliament’s endorsement of a pact that allows the country to join the New Development Bank, a report has said. According to the report, the lawmakers believe joining this BRICS-backed institution will help Egypt reduce its demand for dollars and enable it to preserve its forex reserves. Joining BRICS Following the Egyptian parliament’s recent endorsement of an agreement that paves the way for the country to join the New Development Bank, lawmaker Mohamed Abdel-Hamid, reportedly said the move helps reduce demand for U.S. dollars. Set up…
Bitcoin Extends New Year Rally, Crosses $24,000 Briefly
While Bitcoin may not reach its previous all-time high of $69,000 before the end of 2023, some investors believe that crypto has bottomed out and would begin recovering. Building on its new year rally, the price of Bitcoin crossed the $24,000 threshold on Wednesday night. The upsurge corresponded with a gain in general tech stocks and a drop in the US dollar currency Index (DXY) and US Treasury yields. Bitcoin price has remained closely correlated to the tech-heavy Nasdaq stocks. Its latest rally comes after the Federal Reserve raised its…
Why did Bitcoin price go down today? BTC traders brace for $23K retest
Bitcoin (BTC) headed toward $23,000 on Feb. 3 after a night of losses erased bulls’ latest progress. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView Dollar rebound halts crypto party Data from Cointelegraph Markets Pro and TradingView showed BTC/USD hitting lows of $23,329 on Bitstamp. The pair had come off a second trip above the $24,000 mark at the Feb. 2 Wall Street open, with buyers failing to sustain momentum amid macro market volatility. In classic style for interest rate announcements by the United States Federal Reserve, an initial move was…