Yes, Crypto Is Still Early Source
Yes, Crypto Is Still Early
Day: March 7, 2023
GBTC Discount Narrows to Lowest Level Since November Following Court Hearing
The three judge panel appeared skeptical of the SEC’s reasoning for denying conversion of the trust to an ETF. Source
Argo Blockchain Continues To Increase Bitcoin Mining, Outpacing Difficulty Growth
The crypto market remains in the bear zone, even after several months. In the last week, major coins, such as Bitcoin and Ethereum have seen a decline; for now, it’s impossible to determine the outcome in the nearest future. But certain firms are still thriving amid the current state of the market. A notable example is Argo, a popular UK-based Bitcoin mining company. Argo Blockchain is one of the leading cryptocurrency mining companies in North America and Europe. Argo Increases Bitcoin Production On Tuesday, Argo announced an increase in its Bitcoin…
A Dozen Reasons Why the SEC Should Have Approved Grayscale’s Spot Bitcoin ETF
The core argument in favor of approving a spot bitcoin ETF, at least at this time, is that the SEC’s concerns about manipulation are literally inconsistent – and possibly in violation of the Administrative Procedure Act, as Ribbit Capital’s Sigal Mandelker and Jessi Brooks wrote. The agency has already approved exchange-traded products that use bitcoin futures contracts, particularly NYSE Arca’s proposal to list and trade shares of the Teucrium Bitcoin Futures Fund and Nasdaq’s proposal to list and trade shares of the Valkyrie XBTO Bitcoin Futures Fund. Both of the…
Latin American Travel Agency Despegar Begins Accepting Crypto Payments
“We know that the world of cryptocurrencies is already a reality and, therefore, from this alliance, all Despegar customers in Argentina will be able to approach this universe in a friendly way,” Paula Cristi, general manager of Despegar for Argentina and Uruguay, said in a statement. Source
Esports Giant TSM Enters Into Web3 Gaming Partnership With Avalanche
“Avalanche’s fully customizable subnets were created to help organizations like TSM push the boundaries of what is possible for gaming with sub-second transaction speed, scalability, and security for millions of users,” said John Wu, president at Avalanche blockchain parent company Ava Labs. Source
Key Bitcoin price metrics point to BTC downside below $22.5K
Bitcoin (BTC) faced a 1-hour $1,420 pullback on March 3 following Silvergate Bank’s 57.7% stock crash which was due to significant losses and “suboptimal capitalization.” The U.S. fintech-friendly bank was a key financial infrastructure provider for exchanges, institutional investors and mining companies and some investors are worried that its potential demise could have wide-ranging negative impacts on the crypto sector. The crypto-friendly bank discontinued its digital asset payment railway — Silvergate Exchange Network (SEN) — citing excessive risks. Silvergate also reportedly borrowed $3.6 billion from the U.S. Federal Home Loan…
Web3 app Kresus raises $25M to bridge consumers to blockchain
Web3 app developer Kresus has closed a $25 million funding round to support the development of its so-called SuperApp, potentially opening the door to broader consumer adoption of digital assets. The Series A funding round was led by Liberty City Ventures, with additional participation from JetBlue Ventures, Craft Ventures, Franklin Templeton, Marc Benioff and Cameron and Tyler Winklevoss. Kresus said the capital would go toward product development and hiring. Kresus is currently developing SuperApp, a Web3 platform that enables crypto users to buy and sell digital goods such as nonfungible…
A Closer Look at FTX’s Most Recent Bankruptcy Documents
A cursory look at just those two assets for FTX (which does not include FTX US) reveals something really beyond comprehension. The identified deficit between customer payables, which are customer balances, and total assets, which are assets the bankruptcy team has located plus the amount of customer balances owed to FTX, was $1.6 billion in bitcoin and $870 million in ether. Add on the shortfall in cash and stablecoins of $6.4 billion and you’re left with an utterly outstanding deficit. Source
Elon Musk-Inspired Shiba Inu (SHIB) Competitor Rises on New Crypto Exchange Listing
A Shiba Inu (SHIB) and Dogecoin (DOGE) rival is bouncing after earning new support from a popular Korea-based crypto exchange. Floki Inu (FLOKI), which recently broke into the top 100 crypto assets by market cap, jumped from a 24-hour low of $.00004089 to a high of $.00004701 as news of listing spread – representing a 15% increase. The bounce, which has since retraced to a 4.4% increase, came as FLOKI perpetual trading went live on DigiFinex. “FLOKI perpetuals is live on DigiFinex! You can now trade FLOKI with up to 100x leverage…