Tag: Firm

Bitcoin bags untouched as firm splashes out on AI

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Electric vehicle maker Tesla  made no changes to its sizeable Bitcoin (BTC) holdings — the fifth quarter in a row — though it has directed more funds to double its computing capacity amid artificial intelligence efforts. Tesla’s Q3 2023 results released on Oct. 18 show as of Sept. 30, it held $184 million worth of digital assets — a portion of the $1.5 billion worth of Bitcoin it first bought in March 2021. The latest quarterly results mean it hasn’t bought or sold any Bitcoin since its sell-off of around…

Crypto Research Firm Predicts 200% XRP Price Rally To $1.5

As the XRP price and its future trajectory continue to be a hot topic for debate, crypto research firm Sistine Research has weighed in on this debate using technical analysis. XRP holders are set to love this one, as their prediction is bullish.  Where Is XRP Price Headed? In a post shared on the X (formerly Twitter) platform, Sistine Research stated that, despite the current market outlook, XRP is one of the tokens with a bullish chart in the crypto market as of now.  Their bullish sentiment was projected in…

Tether stablecoin firm appoints CTO Paolo Ardoino as CEO

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Tether, the issuer of the world’s largest stablecoin by market capitalization, is replacing its CEO as the company works to expand its areas of focus. Paolo Ardoino, who has been serving as Tether’s chief technology officer since 2017, will become the new CEO of the firm in December 2023, Tether announced on Oct. 13. Ardoino will replace Jean-Louis van der Velde, who will transition to an advisory role for Tether while retaining his position as CEO of Tether’s sister company Bitfinex. Ardoino will continue in his roles as CTO for…

How This Investment Firm Lost $465,000 In An ARB Trade

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Recent transactions by Arca, a prominent investment firm, involving Arbitrum native token ARB, have again put them under the spotlight. According to on-chain tracking platform Lookonchain, the firm has suffered a substantial loss nearing half a million recently. Arca’s Arbitrum Shipment to Binance Lookonchain reported earlier today that Arca transferred roughly 1.49 million ARB tokens to Binance. With a value of around $1.21 million, this transaction indicates a possible liquidation of Arca’s holdings in Arbitrum (ARB). If this were the case, according to Lookonchain, it would translate into a significant…

USDT Whale Activity Heating Up As Exchange Deposits Rapidly Accelerate, According to Analytics Firm Santiment

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Top stablecoin USDT is witnessing a surge in on-chain activity, according to the crypto analytics firm Santiment. Santiment notes that USDT, which is issued by Tether and aims to maintain to maintain a 1:1 peg with the US dollar, recently notched a three-month high in active addresses, in large part due to an increase in exchange deposits. Earlier this week, Santiment noted that the amount of USDT on exchanges had reached a level last seen in March 2023, giving a boost to the “buying power” of crypto investors. USDT had…

Bitfinex Parent Firm Announces $150M Share Buyback to Protect Hack Vitcims

The proposal outlines a deal that encompasses roughly 9% of iFinex’s outstanding capital and assigns a value of $1.7 billion to the company. As per the latest report, the parent firm of the Bitfinex exchange – iFinex Inc – has started exploring a $150 million share buyback, as per the letter written to shareholders on September 22. The directors of iFinex have proposed an offer of $10 per share for 15 million shares. The document notes that a group of directors within iFinex and its subsidiaries are eligible to participate…

Coinbase Ventures emerges as most active crypto VC firm with 372 deals

Crypto data aggregator CoinGecko released a study on Oct. 10 about the most active cryptocurrency firms, with Coinbase Ventures emerging as the most active. Data in the study showed that the Coinbase Ventures made 144 investments in pre-seed or seed stage and an additional 199 investments at the early stages of Series A or B. Primary backers of the crypto industry The study goes on to show that, in total, the top 23 most active cryptocurrency venture capitalists have been involved in a range of 149 to 372 deals each. …