Month: June 2024

MicroStrategy Proposes $500M Convertible Notes to Boost Bitcoin Stash

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The notes will be unsecured, senior obligations of MicroStrategy, and interest will be paid semi-annually in arrears on June 15 and December 15 of each year, beginning on December 15, 2024. The offering is subject to market conditions, and there is no guarantee about when or on what terms it may be completed. Subject to certain conditions, the company may redeem for cash all or a portion of the notes on or after June 20, 2029. Original

Aethir (ATH) Is Now Available for Trading on LBank Exchange

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PRESS RELEASE. Road Town, BVI, June 13, 2024 – In a significant move for cryptocurrency and mobile technology enthusiasts, LBank Exchange, a premier global digital asset trading platform, has announced the listing of Aethir (ATH) on June 12, 2024. Users of LBank Exchange can brace themselves for the ATH/USDT trading pair, which has gone live […] Source

Paxos Cuts 20% of Staff: Bloomberg

In an all-hands email obtained by Bloomberg, its CEO Charles Cascarilla said that the layoffs “allows us to best execute on the massive opportunity ahead in tokenization and stablecoin” and the company is in a “very strong financial position to succeed” Source

Ripple and Archax Extend Collaboration to Boost Real-World Asset Tokenization on XRP Ledger

Ripple, a leading enterprise in blockchain and crypto solutions, and Archax, the UK’s first regulated digital asset exchange, have announced an extension to their existing collaboration on June 13, 2024. This partnership aims to bring hundreds of millions of dollars of tokenized real-world assets onto the XRP Ledger over the next year, positioning the XRPL […] Source CryptoX Portal

Short-Term Spike As ETFs Gain Popularity

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The winds of change are blowing in the Bitcoin market, bringing a fresh wave of short-term traders while veteran holders remain steadfast in their convictions. A recent report by Bitfinex Alpha reveals a fascinating dichotomy in investor behavior, with new players chasing quick profits and seasoned hodlers (hold on for dear life) accumulating for the long haul. Related Reading Figure 1. Spot Bitcoin ETF flows across various providers in the US. (Source: Farside UK) Short-Term Surge Fueled By ETF Frenzy Spot Bitcoin ETFs, financial instruments that mirror Bitcoin’s price, have…

Bitcoin’s Path To $300,000 Cleared By Bullish Pattern: Analyst

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According to an analysis shared by renowned crypto analyst Gert van Lagen, the Bitcoin price chart has illustrated a significant technical pattern in the 3-day chart (BTC/USD) that could potentially signal an upsurge to as high as $300,000. Known as the “Cup with Handle,” this pattern is celebrated among traders for its predictive reliability and bullish implications. Unpacking The Massive Bitcoin Cup And Handle Pattern The Cup with Handle is a bullish continuation pattern that resembles a teacup on a chart. This pattern is formed when the price initially drops…

As UK Elections Approach, Crypto Industry Leaders Turn Attention to Keir Starmer, Labour Party

With U.K. opinion polls indicating a strong performance by the Labour Party in the July 4 elections, crypto executives and lobbyists are reportedly focusing their attention on party leader Keir Starmer. The crypto industry has also prioritized two other pro-tech Labour Party leaders in its ongoing effort to influence the U.K. government’s policy on digital […] Source CryptoX Portal

Who Got Burned In The $62 Million Fire Sale?

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Ethereum (ETH) bulls got a taste of fire on June 11th as the altcoin’s derivatives market witnessed a dramatic surge in long liquidations. According to data from Coinglass, this event marked the highest level of long liquidations since May 23rd, signifying a significant correction for traders who bet on rising prices. Related Reading Crimson Chart: Long Positions Liquidated Overconfident investors piled into long positions, essentially placing a wager that Ethereum’s price would climb. However, the market had other plans. An unexpected price drop sent shivers down the spines of these…