Summary: A new SEC filing revealed a $500 million crypto fund dubbed DBA Crypto Fund I LP. Top executives from Convex, Galaxy, and Genesis spearhead the fund, per details from the filing. The massive fund could serve as an extra lifeline for Galaxy Digital and Genesis Trading. Both firms recently recorded hefty losses following a …
Monthly archives: August 2022
Largest Ethereum mining pool opens up staking ahead of the Merge
Ethermine, the largest Ethereum mining pool in the world, has announced the launch of a staking service on its platform. In an announcement published earlier today, the company said that Ethermine Staking will enable users to earn interest on their ETH as if they were staking it, without having to put down the 32 ETH …
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Bitcoin sell off leads to $20M in longs liquidated
Bitcoin bears have dipped the price as low as $19,600 within the last hour, giving back most of yesterday’s gains. The next level of support is at the $19,200 level. Source: BTCUSDT on TradingView.com Previous instances of losing the psychological $20,000 level have seen recoveries over that area. However, with macro concerns, namely runaway inflation …
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LUNA Classic pumps 70% on ambitions to wipe the past, revive the chain
LUNA Classic (LUNC) is up 70% from its August 20 low following the implementation of plans to revive the ailing network. The purpose of the original Terra Luna token was to absorb price deviations of the UST stablecoin. But following UST’s depeg in May, Terra Luna has lost over 99.9% of its value. After rebranding, …
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Research: The European sovereign debt crisis 2.0
Despite their best efforts, European countries’ governments have so far been unable to curb inflation this year. Russia’s invasion of Ukraine was the spark that finally triggered the crisis that loomed since the outbreak of the COVID-19 pandemic in 2020. In June, EU member states released their consumer price index (CPI), showing that prices have …
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Tether responds to WSJ’s insolvency claim, says its US Treasury assets are safe
Tether has responded to concerns raised by a recent article by The Wall Street Journal claiming that the USDT issuer has inadequate reserves. Tether’s financials released on Aug. 25 revealed it has $67.7 billion in assets as compared to $65.7 billion in liabilities, making a difference of $191 million. The WSJ’s article had claimed that …
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Messari report alleges Optimism growth is inorganic
Blockchain analytics firm Messari released a report alleging that the growth of Ethereum Layer2 network Optimism (OP) is inorganic, There is evidence that @OptimismFND’s growth is inorganic. Optimism’s transacting addresses grew sharply from ecosystem incentives but fell off in recent weeks. @Arbitrum has managed consistent active user metrics without offering any incentives for network usage. …
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Meta Reveals Cross-Posting NFT Compatibility Between Facebook and Instagram
Meta, the corporate entity behind the social media platforms Instagram and Facebook, has revealed that non-fungible token (NFT) support now offers cross-posting compatibility between the two major social media platforms. The digital collectible-sharing ability follows Meta rolling out NFT and Web3 wallet support to 100 countries during the first week of August. Meta’s NFT Rollout …
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Biggest Movers: FLOW up 12% on Tuesday, Hitting 5-Day High
Flow rose for a second consecutive session on Tuesday, as the token climbed by 12% earlier in the day. The rebound comes after prices fell to a one-month low over the weekend. Cosmos was also in the green, as it, too, hit a five-day high. Overall, the global crypto market cap is up 0.68% as …
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Whale Spends 10,000 BTC Worth $203M, Bitcoins Stem From the Infamous 2011 Mt Gox Hack
In two days’ time, bitcoin’s price dropped to fresh August lows as it dipped below the $20K per unit region for the first time since mid-July. During that time, two addresses created on December 19, 2013 sent 10,000 bitcoin worth $203 million to unknown wallets after sitting idle for close to nine years. Onchain data …
Bitcoin, Ethereum Technical Analysis: BTC Back Above $20,000 as Markets Rebound
Bitcoin was back above $20,000 on Tuesday, as bulls seemingly moved in to buy following the recent dip in price. The token dropped to a multi-week low over the weekend, however prices have now risen in back-to-back sessions. Ethereum was also in the green, as prices briefly recaptured $1,600. Bitcoin Bitcoin (BTC) was trading higher …
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More Than a Third of Africa’s 53 Million Crypto Owners Are From Nigeria, Study Shows
With an estimated 53 million cryptocurrency owners, the African continent now accounts for 16.5% of the global total, a study has found. The study findings suggest that Nigeria, which has more than 22 million crypto owners, currently accounts for more than a third of the continent’s total number of holders. Nigeria Accounts for Over a …
Mergers and Acquisitions Innovation for DeFi and Web3 Pushed Forward, Crypto Collapse Phoenix
sponsored In 2021, the global cryptocurrency market was valued at US$ 1,782 Billion. Sectors like DeFi and NFTs allowed individuals to earn high yields on their investments and create unique collectables as web3 introduces decentralized and permissionless ownership of assets to individuals. Acquire.Fi is creating the first-of-its-kind Mergers and Acquisitions (M&As) marketplace for web3, crypto, …
Bitcoin Whale Activity Wakes Up As BTC Hovers Just Above $20,000 Level: On-Chain Data
Crypto analytics firm Santiment is tracking an increase in the number of whale addresses holding Bitcoin (BTC). According to a new post, the data aggregator highlights the uptick in wallets which hold between 100 and 10,000 Bitcoin as a reassuring indicator after the markets tanked last Friday in response to Federal Reserve Chair Jerome Powell’s …
Crypto developers should work with the SEC to find common ground
Developers, investors and regulators can establish best practices and raise the quality of cryptocurrency development by working together. Regulators are tasked with balancing between protecting consumers and creating environments where entrepreneurs and the private sector can thrive. When markets face distortions, perhaps due to an externality or information asymmetry, regulation can play an important role. …
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