ARK has been consistently selling Coinbase stock in recent weeks. Friday’s is the largest sale since July, when it sold 480,000 shares worth $50.5 million at the time. Source
Cathie Wood's ARK Invest Sells $49.2M Worth of Coinbase Shares
Day: December 11, 2023
Bitcoin price correction hints start of altseason, trader suggests
The Bitcoin (BTC) price recorded a sharp correction on Dec. 11, dipping 7% and wiping out the gains of the past seven days. The strong price correction pushed BTC to a four-month low of $41,329. A decline in prices of altcoins followed the Bitcoin price correction, many of which recorded double-digit drops. However, market pundits and analysts believe the recent price crash is a part of the ongoing price cycle, and after two months of bullish surge, a correction is no surprise. Crypto analyst and co-founder of Reflexivity Research Will Clemente said that…
Why Is Ethereum Price Down To $2,200 Today?
The Ethereum price has been among the worst hit in the flash crash that took place on Monday. The crash sent the asset’s price down below $2,200 for the first time in the last week and has continued to trend low around this point. As the market shows a bit of recovery momentum, questions remain about what could have triggered the crash. Ethereum Price Fell Because Whales Have Been Selling One of the most obvious causes of the flash crash that affected the Ethereum price is the fact that large…
Crypto fund worth $500M eyes Animoca Brands and Chainalysis: Report
C1 Secondaries Fund, which has assets worth $500 million, is looking to invest in crypto firms such as Animoca Brands and Chainalysis as crypto markets continue their bullish momentum. Citing a pitch deck, the Australian Financial Review report on Dec. 10 said the Silicon Valley and United Arab Emirates-based fund is prepared to write $20 million to $50 million cheques to buy private holdings in crypto companies with a valuation of $300 million and above in its last funding round. Animoca Brands’ last capital raise sold shares at around $4.50. However, the C1 Fund,…
Bonk Displaces Pepe to Become Third-largest Memecoin
BONK has gained more than 6000% over the last 3 months, making it the most performing mid-cap memecoin in that time. Solana-based memecoin Bonk (BONK) has successfully flipped Pepe on the list of the largest memecoins in terms of market capitalization. The move by the dog-themed token, however, may just have been helped by its recent price gains. In just 30 days, BONK saw an over 370% price gain that saw its value go from $0.0000028 to $0.000012. The surge was enough to increase its market capitalization to around $762…
Goldman Sachs Sees Fed Delivering First Rate Cut in Q3 2024: Reuters
The Fed’s benchmark interest-rate range is currently 5.25% to 5.5%. Source
Nvidia plans Vietnam expansion for AI development
Nvidia, one of the market’s leading developers of artificial intelligence (AI) chips, announced its intentions to expand partnerships in Vietnam and set up a base in the country after a visit from the company’s CEO. Jensen Huang, Nvidia CEO, said Vietnam is already a partner of the company, as it is home to millions of its clients and Nvidia has already invested $250 million in Vietnam. “Vietnam and Nvidia will deepen our relations, with Viettel, FPT, Vingroup, VNG being the partners Nvidia looks to expand partnership with.” He also said…
Will Bitcoin ETFs follow gold ETFs’ path to success?
Will the much-anticipated approval of spot Bitcoin ETFs be the catalyst for widespread adoption, or could it paradoxically hinder Bitcoin’s growth? As of Dec. 11, the U.S. Securities and Exchange Commission (SEC) has not approved any spot Bitcoin (BTC) ETF applications despite growing interest and numerous filings from major financial entities. This persistent reluctance stems from concerns about fraud and market manipulation, with the SEC emphasizing the need for a “comprehensive surveillance-sharing agreement with a regulated market of significant size.” Historically, applications for Bitcoin spot ETFs have been repeatedly submitted…
$300M crypto long liquidations — 5 things to know in Bitcoin this week
Bitcoin (BTC) starts a key week for macro markets with a bump as the weekly close gives way to a sharp 7% BTC price correction. In a fresh bout of volatility, the largest cryptocurrency broke down toward $40,000, reaching its lowest levels in a week. Arguably long overdue, Bitcoin’s return to test support nonetheless caught bullish latecomers by surprise, liquidating almost $100 million in longs. The snap move provides a rude awakening for BTC investors at the start of a week, which already holds a multitude of potential volatility triggers.…
South Korea excludes NFTs, CBDCs from crypto interest mandate
South Korean regulator, the Financial Services Commission (FSC), published a notice highlighting that by July 2024, investors in digital assets must receive interest when depositing their funds into an exchange. However, the guidance clarified that nonfungible tokens (NFTs) and central bank digital currencies (CBDCs) are excluded from the law. On Dec. 10, local media outlets reported the FSC plans to release the legislative guidance. Despite the exclusion of NFTs, the regulator also noted that there can be exceptions. According to the report, even if the tokens are categorized as NFTs but function…