“When we were appointed in June 2022, everyone assumed Celsius would disappear completely like the other crypto lenders that were filing bankruptcy around the same time,” said David Barse and Alan Carr, members of the special board committee that steered the bankruptcy, in a statement. Source
Conflux Network’s CFX token gained over 13% amid a ‘strategic partnership’ agreement with Asia-based venture studio BlockBooster. In an X thread, Conflux Network said the latest deal with the Asia-based venture studio will focus on identifying “web3 incubation opportunities within the Conflux ecosystem,” as the project wants to facilitate “major events for Conflux builders.” While no other details have been released, the news was enough to impact the CFX token, which gained over 13% surging to $0.24, according to CoinGecko data. BlockBooster, commenting on the agreement, expressed its intent to…
“As much of our industry, and the financial services industry writ large, prepares for the digital tokenization of potentially a lot of assets, it was very strategic on their behalf to reach out to us,” said BitGo VP Baylor Myers in an interview. “I think Brink’s is going to continue to allocate resources to its office of digital assets.” Source
“Fabiano Consulting will provide valuable expertise in evaluating new potential investments in the fast expanding bitcoin mining industry while exploring opportunities to develop trading, treasury and financing solutions within Deus X’s existing portfolio businesses, such as Alpha Lab 40,” according to the statement. Source
K33 Research, a prominent entity in the cryptocurrency research sector, has released a scathing report on Cardano (ADA), sparking widespread discussion in the crypto community. The report bluntly advises investors to divest from Cardano, citing a lack of meaningful use for its native token, ADA. Sell All ADA Now? In a detailed examination, K33 Research asserts that the Cardano network suffers from a significant lack of practical application, which is essential for the inherent value of its native token. The report states, “A smart contract network needs meaningful use for…
South Korea’s stance on cryptocurrency ETFs remains unchanged despite the U.S. giving the green light to a Bitcoin spot ETF. The South Korean government continues to disallow the launch of cryptocurrency ETFs, adhering to its long-standing policy of not recognizing digital currencies as financial assets. Since 2017, financial institutions in the country have been barred from investing in cryptocurrencies. Local sources have reported that the Financial Services Commission (FSC) of South Korea reaffirms the government’s commitment to financial market stability and investor protection. The FSC official highlighted that there has…
ARK’s ETFs have a target weighting whereby no individual holding exceeds 10% of the fund’s total value. Having more than doubled in price in the last three months of 2023, COIN has consistently held above that threshold in both ARKK and ARKW, leading to regular sales of the crypto exchange’s stock by Cathie Wood’s firm. Source
CleanSpark, the third-largest public Bitcoin mining firm in the U.S., is set to establish its own trading desk in 2024, aiming to optimize the profitability of its substantial Bitcoin assets. In an interview with Bloomberg, Zachary Bradford, the CEO of CleanSpark, expressed the strategic decision to manage their Bitcoin transactions internally. Given their considerable Bitcoin holdings, he emphasized the financial prudence of this approach. This initiative aligns with the recent practices adopted by other Bitcoin mining companies. For instance, Marathon Digital Holdings has sold Bitcoin call options to generate revenue,…
Value Partners, a Hong Kong-listed company, is set on issuing blockchain tokens backed by physical gold and filing applications for crypto-related ETFs. According to local media Hong Kong Commercial Daily, the firm plans to tokenize its three tons of gold bars worth an estimated $201 million at current prices. Value Partners already offers the only Hong Kong gold ETF backed by physical gold and believes digitizing its precious metal with blockchain technology will only improve accessibility for investors. The move comes after gold hit its all-time high and traded at…
A recent market update by the trading firm QCP Capital has provided insights into how Bitcoin’s price would react if a Spot Bitcoin ETF gets approved in January. The firm predicts that there could be a major retracement before any move to the upside. Bitcoin Could Retrace To $36,000 QCP Capital predicts that Bitcoin could retrace to around $36,000 before an uptrend resumes. At the same time, they expect Bitcoin to face a topside resistance between the $45,000 and $48,500 region. These projections are based on what they expect to…