Day: May 9, 2024

CryptoQuant CEO Predicts Where Bitcoin Price Is Headed, Is $265,000 Too Ambitious?

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Ki Young Ju, CEO of cryptocurrency analysis firm CryptoQuant, has given an ultra-bullish prediction for Bitcoin. The crypto founder alluded to certain factors that could spark the flagship crypto’s rise to such heights.  Bitcoin Could Rise To As High As $265,000 Young Ju mentioned in an X (formerly Twitter) post that “Bitcoin’s network fundamentals could support a market cap three times its current size compared to the last cyclical top.” He added that this development could help BTC rise to $265,000. The fundamental that the crypto founder was alluding to…

Influencer-Investors Get Special Treatment in Token Deals

KOL arrangements are “a win for protocols, a win for KOLs, but a heavy loss for retail,” said Muur, the influencer who said she doesn’t take these deals. “These deals are not properly disclosed in most cases, so the community doesn’t know about KOL rounds and its vesting terms,” she lamented, expressing a sentiment echoed by other insiders. Source

Reimagining Female Empowerment in the Age of Digital Influence and Crypto

For many young women of this generation, the digital realm serves as both a canvas and a stage. Social media platforms offer a medium through which they can curate their image, projecting an idealized version of themselves to the world without the need for physical alteration. With the rise of influencer culture, these individuals find themselves thrust into the spotlight, their online personas meticulously crafted to garner attention, recognition and status. Source

$2.4B In Bitcoin and Ethereum Options Set To Expire, Market Volatility Ahead?

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As the clock ticks closer to the end of today, May 3, the cryptocurrency market braces itself for potential upheavals, with roughly $2.4 billion worth of Bitcoin and Ethereum options set to expire. This significant event could catalyze notable shifts in market dynamics, steering the trajectory of Bitcoin and Ethereum prices in the near term. Notably, Options contracts in the crypto sphere allow traders to hedge against price volatility or speculate on future price movements without directly holding the assets. Typically structured as either calls or puts, these contracts enable…

Math Olympian in Shadow of John Nash Tries to Solve Blockchain, AI Trust Dilemma

The concept for the new protocol was created in conjunction with researchers from Berkeley and Columbia University, according to the team. It combines math, computer science and economics, deploying “advanced sampling methods and game theory to incentivize integrity and minimize computational demands across decentralized networks,” Hyperbolic shared in a press release with CoinDesk. Source

FTX Bankruptcy: Fallen Exchange To Amass up to $5,100,000,000 More Than What Users Lost at Time of Collapse

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The bankrupt crypto exchange FTX now has holdings worth billions of dollars more than the legally approved claims made by its creditors. A recently filed disclosure statement indicates that FTX’s bankruptcy estate estimates it will hold net distributable proceeds between $14.5 billion and $16.3 billion on September 30th, the projected start date for the exchange’s reorganization plan. FTX only owes creditors approximately $11.2 billion, putting the bankrupt exchange’s creditors in a position to recover between 118% and 142% of their claim values, according to the disclosure statement. However, FTX’s creditors’…

Prometheum's Contentious Answer to Crypto Compliance Is Running Late

Much of the crypto sector has been apprehensive about the ribbon cutting on Prometheum’s custody and trading operations, which the firm said will fully comply with U.S. Securities and Exchange Commission (SEC) demands. The doors have so far stayed shut well past the target date, but the company explained it’s still finishing a process for auditing smart contracts. Source

DCG, parent of GBTC Sponsor, Reports Q1 Revenue of $229M

In January, Grayscale converted GBTC, which had been in existence as a closed-end fund for over a decade, into a spot ETF, becoming one of ten issuers to bring such a fund to the market. While billions flowed into the new vehicles, GBTC, whose management fee of 1.50% was more than 100 basis points above its competitors, experienced billions in outflows. Source