Gold and most of the so-called magnificent seven tech stocks are down on the day. Source
Bitcoin Climbs Above $84K, Adds Almost $20K in a Week
Category: ICO
Espresso, Project for Composability Between Blockchains, Pushes Main Product Live
According to the team, the confirmation layer will be a critical piece of infrastructure for composability among layer-2 rollups, allowing for two networks to read and trust each other’s blocks of transaction data. Source
Michael Saylor’s MicroStrategy Sitting on Nearly $11B Profits From Bitcoin Stash, Adds 27,200 to Its Warchest
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Under Trump, Crypto Market Cap Could Surge Fourfold in Two Years: Standard Chartered
A Republican sweep would allow the new government to push through positive policies for the digital assets sector, which could lead to total crypto market cap swelling to $10 trillion by the end of 2026, investment bank Standard Chartered (STAN) said in a research report on Friday. Source
Bitcoin Hits $82K as Weekend Rally Extends
Bitcoin passed $80,000 for the first time on Sunday and topped $82,000 on Monday. BTC enjoyed an unusually busy weekend, rising over 4% amid trading volumes of almost $100 billion. Weekend pumps in the crypto market are seen as bullish indicators, given that professional traders and institutional investors are much less active. The positive sentiment extended into the new week, with BTC climbing as high as $82,394. Futures premiums on BTC-tracked products are soaring, indicating a bias for bullish bets. The popularity of the $80,000 call on Deribit points to…
FTX Sues Binance, Former CEO CZ for $1.8B
The filing alleges that FTX was already insolvent and the FTT tokens used in a share repurchase transaction were worthless, and therefore the transfer should be classed as fraudulent. Source
U.S. Crypto Stocks Surge in Pre-Market Trading as the BTC Price Tops $82K
MicroStrategy, the publicly traded company holding the largest amount of bitcoin, 252,200 BTC, rallied 11% to more than $300 a share. Copycat Semler Scientific surged 25% and is approaching a high for the year. Crypto exchange CoinBase added almost 17%. Source
Solana Memecoin ACT Rockets 1,720% on Binance Listing as Altcoin Market Heats Up
Memecoins are volatile by nature can often swing in price dramatically due to varying amounts of liquidity. Two percent market depth on Binance for ACT is currently just $93,000 to the downside and $214,000 to the upside, which means that a market sell order of just $100,000 would move the price to the downside by more than 2%, according to CoinMarketCap. Source
Humpy the Whale Cost Crypto Exchange FTX, Alameda Research $1 Billion in Losses, Lawsuit Alleges
According to the filing, in January 2021, Meerun began accumulating a position in BTMX, an illiquid token, eventually holding around half the supply, and helping drive up the price by over 10,000% in three months. He then allegedly exploited a flaw in FTX’s margin trading rules by using his stake as collateral to borrow tens of millions of dollars from the crypto exchange. Source
Mt. Gox Shuffles 30,000 Bitcoin Between Wallets as BTC Price Hovers Near $82K: Arkham
Mt. Gox was once the world’s top crypto exchange, handling over 70% of all bitcoin transactions in its early years. In early 2014, hackers attacked the exchange, losing an estimated 740,000 bitcoin (more than $15 billion at current prices). The hack was the biggest of the many attacks on the exchange in the years 2010-13. Source