The flurry of investment came as bitcoin (BTC) dipped to as low as $25,892 on Thursday amid fears Luna Foundation Guard, the organization that was supposed to support UST in a crisis, might panic-sell its reserve of roughly 80,000 bitcoin. The price of bitcoin recovered most if its losses late last week to change hands around $30,000, a significant psychological level. Source
Famed value investor and fund manager Bill Miller says he has “a lot” of bitcoin and has not sold any despite the recent crypto sell-off. He insisted that investors should put some of their liquid net worth in the cryptocurrency. Bill Miller Shares His Bitcoin Outlook Famed value investor Bill Miller is still bullish about bitcoin despite recent price declines. He confirmed in an interview with CNBC Thursday that he owns “a lot” of bitcoin and hasn’t sold any. Miller is the founder of Miller Value Partners and currently serves…
Veteran investor Mark Mobius, the founder of Mobius Capital, has cautioned cryptocurrency traders against using the “buy the dip strategy.” He expects the price of bitcoin to plunge further with some temporary relief happening at $20K. Mark Mobius’ Warning and His Bitcoin Price Prediction The founder of Mobius Capital Partners, Mark Mobius, warned crypto traders about buying the dip in an interview with Financial News Friday. He also shared his price prediction and future outlook for bitcoin. Prior to starting his own company, Mobius was executive chairman of Templeton Emerging…
“With the plummeting bitcoin price, the profitability of these companies will continue to be under pressure,” said Jaran Mellerud, an analyst at Arcane Research. However, he added, the larger miners – with lower operating costs than the industry average – should be able to see themselves through the valley of this bear market. Source
Singapore-based exchange giant Crypto.com is adding two small-cap altcoins to its roster amid a market-wide slump. First up is Lido DAO (LDO), the governance token of decentralized staking platform Lido Finance which offers staking solutions across several popular blockchains. Lido’s decentralized autonomous organization (DAO) grants holders of the Ethereum (ETH)-based token voting rights on project parameters, upgrades and staking protocols. Back in March, the Silicon Valley-based investment firm Andreessen Horowitz revealed it was backing Lido because the project democratizes the proof-of-stake process by both making minimum deposit amounts attainable to…
The European Commission disagrees with some provisions in the crypto regulatory proposal approved recently by the European Parliament. The executive arm in Brussels is unhappy with certain anti-money laundering measures, according to a media report quoting unofficial correspondence. European Commission Working on Compromise Proposal for EU Crypto Rules Europe’s upcoming Markets in Crypto Assets (MiCA) legislation is facing challenges in the trilogue stage, less than two months after the European Parliament voted on the draft. Since then, discussions have been underway with the other two parties in the European Union’s…
▶ Coinbase Website: Coinbase.com ▶ CEX Website: cex.io Christine Lee presents data illustrating the environmental impact of the Bitcoin network, looking specifically at global energy consumption and regional carbon emissions. As regulators often target cryptocurrency ESG concerns, Lee highlights areas of the world where bitcoin mining uses emission-free electricity. #cryptocurrency #digitalfinance #finance #bitcoin #crypto Subscribe to CoinDesk on YouTube: Site: Twitter: LinkedIn: Instagram: Facebook: Newsletters: CoinDesk Podcast Network: Markets Daily Crypto Roundup: CoinDesk is the leading digital media, events and information services company for the crypto asset and blockchain technology…
Tanzania is getting closer to launching a central bank digital currency (CBDC) which gives the country’s residents a “safe alternative,” the central bank governor has said. However, no date for the digital currency launch has been given. Growing Interest in Cryptocurrencies According to Florens Luoga, the governor of Tanzania’s central bank, his country is inching closer to the launch of a central bank digital currency (CBDC). When launched, the CBDC is expected to counter the growing interest in privately issued cryptocurrencies, a report has said. In remarks made during an…
Cryptocurrencies markets continue to suffer major losses following the depegging of Terra (LUNA) ecosystem’s stablecoin UST – causing discrepancies between stablecoin pegs and the value of Bitcoin (BTC). Stablecoin Tether (USDT) showed signs of stress as USDT/USD traded under $0.99 on major exchanges. Tether and Bitfinex CTO Paulo Ordoino took to Twitter to assure USDT holders that over 300 million UDST tokens had been redeemed at their $1 peg over the past 24 hours. GMReminder that tether is honouring USDt redemptions at 1$ via https://t.co/fB12xESSvB .>300M redeemed in last 24h…
Do Kwon has urged holders of LUNA to “stay strong,” as the price moves ever closer to zero. Following the UST stablecoin losing parity with USD, prices have plunged, falling to a new low this morning. LUNA, UST Tumble Toward Zero As of writing, LUNA/USD is trading at $5.45, which is marginally higher than its earlier low of $4.21. To put things in perspective, prices are down nearly 90% from yesterday’s peak of $34.28, and only seven days removed from it trading at a high of $88.40. LUNA/USD – Daily…