Month: April 2024

Blockchain Developer Monad Labs Raises $225M Led by Paradigm

Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated. CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. In November 2023, CoinDesk was acquired by the Bullish group, owner of Bullish, a regulated, digital assets exchange. The Bullish group is majority-owned by Block.one; both companies have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as…

Grayscale accounts for Monday’s largest Bitcoin ETF outflow

boss

Bitcoin ETFs saw a net outflow of $223 million on Monday after four consecutive days of net inflow. According to SoSo Value, Monday was the most significant outflow for Bitcoin ETFs in over two weeks. Last week, BTC ETFs saw four days of consecutive inflows totaling nearly $570 million, driving Bitcoin’s price to $72,000. However, Monday’s outflow caused BTC’s daily trading volume to decline by 6%, forcing the price to retrace to $69,000.  Bitwise’s ETF saw the most significant single-day net inflow at $40.3 million. However, nearly $303 million was…

Crypto Founder Warns Of Burgeoning Bitcoin Fire Sale, Here’s What It Means

boss

Authur Hayes, the co-founder and former Chief Executive Officer (CEO) of cryptocurrency exchange and trading platform, BitMEX has released another blog post, predicting a major fire sale and a potential price decline for Bitcoin, the world’s largest cryptocurrency.  Bitcoin Fire Sale Imminent In his blog post, Hayes provided a detailed analysis, explaining his perspectives on how the Bitcoin halving event would adversely affect the price of the cryptocurrency.  The Bitcoin halving is an occurrence that takes place every four years which reduces Bitcoin miner block rewards by half. This, in…

DeFi Platform Zeta Markets Announces Governance Token Z

“Zeta’s vision from day one has been to make decentralized finance a viable alternative to centralized, black-box financial systems. With a platform that has already stood the test of time and facilitated billions in volume for tens of thousands of traders, we’re excited to launch Z, the governance token of Zeta, to closely align the long-term interests of users with the protocol,” Tristan Frizza, Founder of Zeta Markets said. Source

Arthur Hayes: Bitcoin prices to plummet before, after halving

boss

BitMEX Founder Arthur Hayes shared his opinion on Bitcoin’s price on the eve of its halving. In a recent post, Hayes questioned whether Bitcoin (BTC) could hold its all-time high as it approaches halving. In his recent forecast, Hayes expects BTC prices to decline before and after the halving event, suggesting that during this period, dollar liquidity will be limited, contributing to increased pressure from sellers of crypto assets. The BitMEX founder also predicts that after May 1, the quantitative tightening (QT) cycle will ease, returning to a standard rhythm…

Patrick McHenry Still Thinks U.S. Legislation Governing Tether (USDT), USDC, Other Stablecoins Is Possible

McHenry has been negotiating stablecoin legislation with members of his party and House Democrats for months, and when a bill cleared his committee, it did so with the support of several Democrats. But there has been some resistance from the administration and from the panel’s top Democrat, Rep. Maxine Waters (D-Calif.), about the role of the federal government in overseeing stablecoin issuers. Source

This bitcoin miner will distinguish itself after the halving, Rosenblatt says

boss

Some bitcoin miners won’t survive when the upcoming halving slashes their revenue in half, but the ones that do survive will thrive, and Rosenblatt Securities says TeraWulf is its top pick in the category. The firm initiated coverage of the bitcoin miner with a buy rating and $4.20 price target Tuesday. Shares were ahead almost 3% in early trading, bringing the past month’s gain to 14.2%. “WULF is our preferred way to allocate to bitcoin below spot prices, particularly among a not so shareholder-friendly pubco peer set,” Rosenblatt analyst Andrew Bond wrote…

This bitcoin miner will distringuish itself after the halving, Rosenblatt says

boss

Some bitcoin miners won’t survive when the upcoming halving slashes their revenue in half, but the ones that do survive will thrive, and Rosenblatt Securities says TeraWulf is its top pick in the category. The firm initiated coverage of the bitcoin miner with a buy rating and $4.20 price target Tuesday. Shares were ahead almost 3% in early trading, bringing the past month’s gain to 14.2%. “WULF is our preferred way to allocate to bitcoin below spot prices, particularly among a not so shareholder-friendly pubco peer set,” Rosenblatt analyst Andrew Bond wrote…