The world’s largest asset manager, BlackRock, has updated its spot Bitcoin exchange-traded fund (ETF), shifting risk to crypto market makers. The new model, presented by BlackRock in a November meeting with the U.S. SEC, basically opens the door to Wall Street banks like JPMorgan and Goldman Sachs, who cannot hold crypto assets directly. BlackRock’s Revised […]
Avalanche Open Interest Just Smashed A New ATH, Can AVAX Reclaim $100?
Avalanche has seen its native token AVAX rise rapidly over the last 30 days to make its way into the top 10 tokens by market cap. This rally was not exactly out of the blue as activity had begun to pick up once more on the Avalanche network. During this time, the open interest has […]
Ethereum Post-Merge Supply Dips by $2.58 Billion – A Crucial Moment for ETH’s Price Trajectory
Ethereum, a pioneering force in the crypto realm, has orchestrated a calculated reduction in its post-merge supply, marking a substantial decline of $2.58 billion, according to data by Ultrasound Money. This strategic pivot towards supply reduction represents a bold departure from traditional dynamics, prompting a reevaluation of Ethereum’s value proposition and market trajectory. Source: https://ultrasound.money/ […]
3AC Co-Founder Grilled in Singapore Court Over Crypto Fund’s Collapse
In a recent two-day court hearing in Singapore, Su Zhu, the co-founder of Three Arrows Capital, faced questioning over the collapse of the crypto fund. Liquidators were able to gather vital information in their pursuit of recovering billions of dollars for creditors. 3AC Co-Founder Su Zhu Questioned In Singapore Court According to a recent Bloomberg […]
Argentina devalues peso by 50%, crypto offers a way out
Argentina’s President Javier Milei announces a drastic 50% devaluation of the peso amidst economic challenges.
Social Giant Line Raises $140 Million for NFT Push, ‘Brown and Friends’ Games
Line Next, the NFT subsidiary of Japanese messaging giant Line, has raised $140 million in a funding round led by private equity firm Crescendo Equity Partners. The investment marks the largest backing for an Asian blockchain company this year, the company claims. The firm plans to use the fresh capital injection to expand its global […]
Offchain: It’s Ecosystem Season!
The idea of an ETH killer has always been faintly ridiculous. But as SOL and AVAX surge and surge, this could be the cycle where the balance finally shifts. When SBF’s criminal empire came crumbling down last year, it seemed to put a bullet in the prospects of Solana, the much-hyped ETH killer whose primary […]
Immutable’s zkEVM to eliminate Web3 gaming gas fees
Web3 gaming firm Immutable is set to completely cut out gas fee payments for gamers when its proprietary zero-knowledge proof-based (ZK-proofs) scaling platform goes live in early 2024. Immutable zkEVM provides the technology for blockchain-based game developers to remove transaction fees from end users, which is touted to create a “frictionless onboarding” experience for gamers. […]
Fair Value Accounting For Crypto To Begin In 2024, Confirms FASB
The Financial Accounting Services Board (FASB) announced on Wednesday that it has officially adopted fair value accounting for crypto assets starting next year. The change is expected to make Bitcoin and other digital currencies far more welcoming to hold on corporate balance sheets, despite their intermittent price volatility. FASB’s Major Accounting Change Per FASB’s latest […]
Why has Bitcoin price hit new all-time highs in Turkey, Egypt, Nigeria and Argentina?
Since bottoming around $16,800, Bitcoin BTC $42,750 has displayed resilience throughout 2023, posting over 153% gains year-to-date and $143% over the last 12 months to outperform major tech companies. BTC/USD Daily Chart. Source: TradingView Despite this impressive performance, the flagship cryptocurrency’s price is still 39% below the all-time high (ATH) level reached in November 2021. […]