Author: Coindesk
Kaplan sentenced Ryan Salame, the former CEO of FTX Digital Markets, to more than seven years in prison earlier this year. Like Ellison, Salame pled guilty to criminal charges, but unlike her, he did not testify or provide the same cooperation. He also faced different charges, but his sentence suggests the extreme upper bound for Ellison, if she does go to prison, will be a few years. Read the full article here
The launch of U.S. bitcoin exchange-traded funds on Jan. 11, 2024, has become one of the year’s most significant financial events. These ETFs, including the BlackRock iShares Bitcoin Trust (IBIT), have collectively attracted $17.7 billion in net inflows since their debut, according to Farside data. IBIT, to some, has emerged as a competitor to MicroStrategy (MSTR), a company renowned for its substantial bitcoin holdings and dual business model. Led by Executive Chairman Michael Saylor, MicroStrategy currently holds 252,220 bitcoins, valued at approximately $16 billion. Year-to-date, MicroStrategy’s stock has risen 119% compared to IBIT’s 35%, reflecting a more than threefold outperformance.…
“Under Chair Gensler, the SEC has become a rogue agency,” McHenry said. He lamented aggressive SEC crypto enforcement even as the House approved a widely bipartisan bill, the Financial Innovation and Technology for the 21st Century Act (FIT21), that showed that most of Congress disagreed with the agency’s approach to digital assets. Read the full article here
Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. In November 2023, CoinDesk was acquired by the Bullish group, owner of Bullish, a regulated, digital assets exchange. The Bullish group is majority-owned by Block.one; both companies have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence.…
Each vault runs the strategy for 27 days, beginning every Wednesday at 1:00 UTC, simplifying the investment process. For issuers, however, that means their USDC is locked into the vault for 27 days, keeping them from accessing their funds. The liquidity barrier limits users’ ability to react to changing market conditions and meet financial needs. Read the full article here
Several “Satoshi era” bitcoin have been active in the past few years. In July 2023, a wallet dormant for 11 years transferred $30 million worth of the asset to other wallets, while in August, another wallet transferred 1,005 BTC to a new address. Then, in December last year, over 1,000 BTC were sent to crypto exchanges – where they were likely sold off – marking one of the largest amounts from the Satoshi era moved to exchanges. Read the full article here
The People’s Bank of China took steps to stimulate the economy, including cutting the reserve requirement ratio for mainland banks by 50 basis points. The move drew little response from crypto prices. Asian stocks, on the other hand, rallied, with Hong Kong’s Hang Seng index climbing 3.2% and the Shanghai Composite index adding 2.3%. “Bitcoin’s lack of response to this news, juxtaposed against rallying Chinese indices, highlights that its current beta appears more tightly linked to Fed policy and U.S. markets, as evidenced by near two-year high correlations with US stocks, particularly following last week’s FOMC meeting,” Rick Maeda, a…
More recently, bitcoin spent 111 days between $54,271 and $59,699. And it has so far spent 126 trading days in its current range of $59,700 to $65,670, a period that could extend if history repeats itself. These prolonged periods of consolidation aren’t unprecedented, as seen during the $8,000 to $12,000 range, where bitcoin traded for hundreds of days. Read the full article here
Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. In November 2023, CoinDesk was acquired by the Bullish group, owner of Bullish, a regulated, digital assets exchange. The Bullish group is majority-owned by Block.one; both companies have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence.…
“TradFi investors may not respond as enthusiastically to ETH’s investment thesis than to BTC’s. Gold’s investment thesis as an inflation hedge is well-known, and therefore, it is not a leap for TradFi investors to wrap their heads around the idea of ‘digital gold,” Chung said in a message to CoinDesk, referring to an August report by the firm on the topic. “On the other hand, ETH’s ‘world computer’ narrative is much more difficult for non-technicals to grasp. Read the full article here