Author: Coindesk
While the Friday inflow ends the streak of net GBTC withdrawals, BlackRock’s iShares Bitcoin Trust (IBIT) is challenging the fund for the title of biggest bitcoin ETF. GBTC now has $18.1 billion in assets, versus IBIT’s $16.9 billion. IBIT, now in second place, started at zero in January, while GBTC had more than $26 billion. Read the full article here
In a statement, Deputy Attorney General Lisa Monaco said, “Today’s result shows how the Justice Department, working with international partners, reaches across the globe to combat cryptocrime. This guilty plea reflects the Department’s ongoing commitment to use all tools to fight money laundering, police crypto markets, and recover restitution for victims.” Read the full article here
Daniel Schatt, a Cred co-founder and former CEO, Joseph Podulka, former CFO, and James Alexander, the former chief capital officer, were indicted by the U.S. Attorney’s Office in the Northern District of California. Schatt and Podulka were arrested and made their initial appearances in a San Francisco court earlier in the day, according to a press release published Friday. Read the full article here
Ivan Soto-Wright: Yeah, well, I think from our side, it’s just constant. We have this word inside of MoonPay called Kaizen, which is continuous improvement. It’s these 1 % incremental improvements that you make every single day. You do that over a year, and that’s a 3 ,000 % improvement. So we’re constantly learning from our users. The reality is it just takes time. You have to adapt that product. You have to get that feedback. You need to listen to your customers. And obviously, trying to solve some of the biggest pain points for them. Like, it’s not acceptable…
Arthur Hayes, former CEO of crypto exchange BitMEX, said in his latest essay early Friday that bitcoin has likely bottomed at this week’s lows of $56,000, but warned investors to expect a gradual climb instead of a swift recovery to the March highs as markets will cool for the next few months. “Did bitcoin hit a local low […] earlier this week,” asked Hayes. “Yes,” he concluded. “I expect prices to bottom, chop, and begin a slow grind higher.” Read the full article here
Synthetic dollars, in effect, can cost more than “real” dollars because you need to over-capitalize your collateral in order to avoid the risk of losing that alignment with the U.S. dollar. Despite these risks, quite a few blockchain-based digital assets have been established with a peg to the U.S. dollar. The dai, from MakerDAO, is probably the most successful of these, though its backing today includes some U.S. dollar assets. There are others, however, that are pegged purely based on cryptocurrencies and other digital assets that do not connect with the dollar. Read the full article here
Address poisoning is a technique that involves tricking the victim into sending a legitimate transaction to the wrong wallet address by mimicking the first and last six characters of the true wallet address and depending on the sender to miss the discrepancy in the intervening characters. Wallet addresses can be as long as 42 characters. Read the full article here
CoinDesk 20 tracks top digital assets and is investible on multiple platforms. The broader CMI comprises approximately 180 tokens and seven crypto sectors: currency, smart contract platforms, DeFi, culture & entertainment, computing, and digitization. Read the full article here
“The average weekday spot volume on CEXs during 1Q24 was $18.8 billion, more than eight-fold the $2.3 billion daily volume of U.S. spot ETFs over the same period,” the note said. “This discrepancy in activity leads us to believe that bitcoin’s price discovery still remains rooted in global demand trends.” Read the full article here
The CEO of CF Benchmarks, a unit of cryptocurrency exchange Kraken, predicts that despite an inauspicious beginning, crypto exchange-traded funds (ETFs) in Hong Kong will reach $1 billion in assets under management (AUM) by the end of 2024, Bloomberg reported on Friday. Read the full article here