Tether Investments, the group’s venture arm that manages Tether’s growing foray into energy, mining and artificial intelligence, had a net equity value of $7.7 billion, up from $6.2 billion in the previous quarter. It also disclosed owning 7,100 bitcoin (BTC) worth nearly $500 million, the company said in a blog post. Source
Not everyone is convinced, however. Quinn Thompson, founder of crypto hedge fund Lekker Capital, told CoinDesk that the U.S. election is only one facet of the current trading environment. Traders, he suggested, have also been looking at tech earnings, ongoing tensions between Iran and Israel and a sharp rise in U.K. gilt yields following the rollout of the government budget earlier this week. Source
“MicroStrategy shareholders are a unique cohort. Typically, when shareholders get diluted, this is a bad thing,” said James Van Straten, senior analyst at CoinDesk. “However, as a MicroStrategy shareholder, I celebrate being diluted as I know MicroStrategy are going out and buying bitcoin, which increases the bitcoin per share as a company which is accretive for shareholder value.” Source
The caveats are many, including that Paradigm’s hired survey firm, Dynata, tapped a limited number of 1,000 people and applied weighting to the responses to mold the results into something that better reflects the U.S. electorate. The margin of error is stated at 3.5% overall, but that necessarily rises as subsets of those surveyed are more closely analyzed, which was the case for that central question. The survey only asked the single-issue question of the 20% of people who said they had crypto investments, and since a quarter of those…
At press time, World Liberty’s website reflected the old sales target of $300 million. The company sold just under 1 billion of the 20 billion WLFI tokens available. It sold them at a valuation of $1.5 billion. But sold tokens remain frozen until further notice, meaning no one who bought WLFI can cash out on secondary markets. Source
Unlike traditional stock markets, which close at 4 p.m., aren’t open on weekends, and take holidays off, crypto markets never sleep. This gives investors the freedom to trade at any time, regardless of where they are in the world. For many, this freedom may seem overwhelming and, paradoxically, may limit their participation. After all, who wants to be on alert around the clock, monitoring prices and making snap decisions? In traditional markets, significant events, partnerships or regulatory updates can be researched and synthesized during non-market hours. This allows investors to…
The layer 2, which went live in 2022, represented a big step in the evolution of Coinbase, opening a new venture for the exchange beyond being a marketplace for crypto. It has since become a fast-growing part of the company’s business, handling 55% more transactions in the third quarter than in the second. Source
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The Binance founder received an ovation at a standing-room only appearance in Dubai. Source
The company missed many important revenue metrics including “account growth, new net assets, trade pricing, new gold account subscriptions,” the Wall Street bank said. Still, it is managing expenses well, and this supported earnings per share (EPS) for the quarter, the bank said. Source