Author: Coindesk

DCG and Silbert have denied that the promissory note was a sham. In their motions to dismiss, lawyers for DCG and Silbert claimed that the note was fully vetted and binding, adding that, in addition to the note, DCG transferred hundreds of millions of dollars and assets into Genesis to fill the hole in its balance sheet. The tweets reassuring investors of Genesis’ “strong” balance sheet, they argued, were simply “corporate puffery” – not lies. Read the full article here

“What if Dr. Wright sent an email to a medical professional asserting he was Satoshi – that’s a publication of a statement,” Craig Orr, Wright’s lawyer said, adding that the suggestion that Wright take down all his posts was “parasitic.” His defense also asked that the amount Wright pays be brought down to 70% of the costs COPA incurred. Read the full article here

In the meantime, bitcoin bulls might be left scratching their heads at what might be needed for a true upside breakout. The spot ETFs on Thursday completed an 18th-consecutive day of inflows, a steak not even accomplished during the frenzied price increases of February and March. Over that 18-day streak, the ETFs accumulated more than 56K bitcoins, according to HODL Capital, or nearly 7x the amount of bitcoin mined during that period. Read the full article here

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The West Reading, Pennsylvania-based company, which is owned by Customers Bancorp (CUBI), deals only in U.S. dollars and does not accept cryptocurrency or make loans to support crypto activities. It offers its clients, estimated at well over a hundred digital asset firms, a real-time blockchain-based payments platform called Customer Bank Instant Token (CBIT) that allows crypto clients to make U.S. dollar payments 24/7. Read the full article here

Bitcoin could be primed for a surge to $83,000, according to analysis by 10x Research. The breakout is contingent on BTC moving above $72,000 to complete an inverted head-and-shoulders pattern in which an asset experiences three price troughs with the middle one being the deepest. This pattern suggests it is “only a matter of time” before the BTC price reaches a new high, 10x founder Markus Thielen said. A breakout above $72,000, a mere 1% climb above its current price of around $71,300, may hinge on U.S. nonfarm payrolls data, scheduled for release at 08:30 ET. Weak data may strengthen…

Exchanges offer a wide range of services such as staking, stablecoins, trading, custody and prime broking, the note said. The acquisition of Bitstamp potentially allows Robinhood to offer a wider range of crypto products to a more institutional client base. Bernstein has an outperform rating on Robinhood stock with a $30 price target. The shares were little changed in early trading on Friday at around $23. Read the full article here

“Bringing Bitstamp’s platform and expertise into Robinhood’s ecosystem will give users an enhanced trading experience with a continuing commitment to compliance, security, and customer-centricity,” said JB Graftieaux, CEO of Bitstamp, who along with the rest of the leadership team will remain in place following the sale. Read the full article here

“It is only a matter of time until bitcoin makes a new all-time high. The head-and-shoulders formation suggests a rally towards 83,000 soon, with the resistance line likely broken within the next few days. The ideal time for this resistance to break is either today, Friday, June 7, or next week, Wednesday, June 12,” Markus Thielen, founder of 10x Research, said in a note shared with CoinDesk. Read the full article here

“This suggests that while both groups view DOGE as a staple asset within the memecoin space, institutions favor it more, perhaps due to its higher liquidity and relative stability,” Bybit said. “Both cohorts also enjoy Ethereum-based memecoins (PEPE) and (SHIB), with retail users holding 20.95% and 14.61% respectively, compared to institutions’ 22.23% and 10.39%.” Read the full article here