Tag: 1.2M

Cathie Wood’s Ark Invest Offloads $5.3M in Coinbase Holdings and Acquires $1.2M Worth of Robinhood Shares

Ark Invest seems to be rearranging its investment portfolio and has continued to sell huge amounts of Coinbase, while acquiring Robinhood shares. Cathie Wood’s investment firm, Ark Invest, made notable moves in its portfolio on Monday, marking a strategic shift in its crypto and fintech holdings. Ark Invest sold a substantial amount of its Coinbase Global Inc (NASDAQ: COIN) shares while increasing its position in Robinhood Markets Inc (NASDAQ: HOOD) and actively managing its exposure by also selling off its Grayscale Bitcoin Trust (GBTC) holdings. Ark Invest’s Coinbase Sell-Off amid…

Contango Digital Assets Successfully Closes $1.2M Seed Round for Web3 Infrastructure

Blockchain-oriented VC firm Contango plans to use the seed round proceeds to facilitate increased Web3 adoption globally.  Contango Digital Assets recently successfully concluded a $1.2 million seed round geared toward establishing Web3 infrastructure. To date, the leading blockchain venture capital firm has deployed more than $7 million globally to support Web3 startups. According to reports, Contango will double this sum in 2023 amid increased Web3 and blockchain mainstream adoption. The Contango Digital Assets seed round generated much excitement among participating investors. These investors included HNW Angel investors, Family Office, and…

Bitcoin scarcity rises as bad exchanges take 1.2M BTC out of circulation

boss

One of the biggest factors differentiating Bitcoin (BTC) from fiat currency and most cryptocurrencies is the hard limit of 21 million on its total circulating supply. However, the demise of numerous crypto exchanges over the last decade has permanently taken out at least 5.7% (1.2 million BTC) of the total issuable Bitcoin from circulation. The lack of clarity around a crypto exchange’s proof-of-reserves came out as the primary reason for their sudden collapses, as seen recently with FTX. Historical data around crypto crashes revealed that 14 crypto exchanges, together, were…