Month: May 2023

Interest rate hike speculation triggers outflows from crypto investment products: Report

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On May 2, European cryptocurrency investment firm CoinShares published its latest “Digital Asset Fund Flows Weekly Report,” which stated that the digital asset market experienced bearish sentiment for the second consecutive week, resulting in outflows totaling $72 million. The report noted that the bearish sentiment could be attributed to the probability of further interest rate hikes by the United States Federal Reserve this week. Weekly crypto asset flows. Source: CoinShares According to the report, crypto market funds experienced outflows across all geographies and providers, particularly in Germany and Canada, where outflows…

How can Bitcoin hold $28K amid the banking crisis?

In today’s Market Report episode, analyst and writer Marcel Pechman discusses whether Bitcoin’s (BTC) $28,000 support has a chance. Next, Pechman analyzes the First Republic Bank’s failure and its subsequent acquisition by JPMorgan. The show airs every Tuesday on the Cointelegraph Markets & Research YouTube channel. The first news article explains why Bitcoin margin and futures indicators are essential to decide whether whales and market makers have flipped bearish as BTC failed to break the $30,000 resistance. For starters, Pechman explains why the $340-million liquidation in leveraged futures was important…

Gemini and Genesis Set To Enter 30-Day Mediation Process To Reach Final Resolution for Exchange’s Earn Users

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Gemini crypto exchange has entered into a 30-day mediation process with bankrupt crypto broker Genesis and its parent company Digital Currency Group (DGC) to find a resolution for Gemini Earn users who lost their assets when the broker went under. Court filings indicate that the firm owes more than $3.8 billion to its largest 50 creditors, including Gemini. Genesis initially filed for bankruptcy in January. Genesis and the exchange had collaborated to create Gemini’s Earn program, which allowed retail investors to loan out their digital assets to earn interest. Genesis owes…

Teaching the next generation of Web3 users

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“How do we onboard the next billion users into crypto?” This is a question that gets thrown around at crypto conferences and metaverse meetups — one that people have been asking for some time. Reaching mass adoption may sound like a daunting task, but crypto media outlets like Cointelegraph help spread the news of what is going on in the cryptoverse every day, helping increase adoption. Many people in the crypto space have likely had experiences where others ask them questions about various aspects of cryptocurrency, and trying to cohesively…

Blur NFT lending surpasses $16M in loans, led by Matchi Big Brother

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According to data sourced from user @beetle from Dune Dashboard, nonfungible tokens (NFT) marketplace Blur has facilitated 8,820 Ether (ETH), or roughly $16.37 million, in loans through its perpetual NFT lending protocol Blend one day after launch. On May 1, Blur introduced Blend as a novel protocol for pledging NFTs for loans, which was developed in conjunction with venture capital firm Paradigm. Together, the Azuki, Wrapped CryptoPunks, and Milady NFT collections represent the largest collateral, with over 8,000 ETH worth in market value pledged. The top Blur lender, who has…

Student interest in ChatGPT skills on Udemy increased by 4,419% since 2022: Report

Udemy’s Global Workplace Learning Index for Q1 2023 indicates that ChatGPT, financial services, and courses aimed at developing students’ business teaching skills have experienced a massive uptick in interest from the site’s reported 49 million users. This likely comes as no surprise as we’re currently experiencing what Wired recently described as a “Wet Hot AI Chatbot Summer,” coming on the heels of OpenAI’s launch of ChatGPT. According to Udemy, topic consumption — the number of users taking courses featuring skills specific to ChatGPT — has risen 4,419%. Screenshot of Udemy…

Coinbase Grew Quickly by Working With U.S. Regulators. Will It Expand Even More by Disregarding the SEC?

But the new vertical is also a sign of the exchange’s increasingly global perspective. Although Coinbase has operated across Europe and parts of Asia, Africa and Latin America for years, it has recently become more vocal about building internationally. In an April blog post, the exchange said it has begun talking with financial regulators in Abu Dhabi (which is building a crypto/fintech tech sandbox) while Armstrong, following a conversation with the U.K.’s Economic Secretary and City Minister, Andrew Griffith, said the country is “moving fast on sensible crypto regulation.” Source

US debt crisis may trigger 70% surge in bitcoin price says YouTuber

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Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied The U.S. Treasury Secretary, Janet Yellen, has recently warned of the catastrophic consequences the U.S. could face if the country hits the debt ceiling without lifting it. In his recent video CryptosRUs explains that failure to do so could lead to bankruptcy and an unprecedented financial crisis. Despite this, there is growing opposition to raising the debt ceiling due to concerns about rising inflation and irresponsible money printing in recent years. As the Federal Open Market…

Goblintown Launches Second Collection Big Inc

Big Inc, a 15,000-unit sequel to the Goblintown collection, has not publicly released a date or time for the mint. The collection is looking for “the worst traders in NFT land,” a spokesperson from Truth Labs told CoinDesk, and will prioritize collectors based on their “rekt activity,” or poor trades in the space. Source

Bank failures pump bitcoin price in weak financial markets

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Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied As regional bank failures rattle the financial markets, bitcoin’s price surges to the $28,500 level, showcasing its resilience and growing appeal as a safe haven for investors. The financial world is experiencing a seismic shift as a series of regional bank failures have sent shockwaves through the markets. Amid this turmoil, the price of bitcoin has surged, climbing from $28,000 to $28,500 in a matter of hours. Investors are increasingly turning to cryptocurrencies, with many viewing…