Bitcoin is struggling to break above $16K, but there are increased signs of unsustainability with the Hash Ribbon confirming miner capitulation will continue. Cover art/illustration via CryptoSlate The Hash Ribbon, an indicator for determining miner capitulation based on when the market reaches a bottom, ended on Aug. 18 after 2 months of dwindling miner participation. …
Continue reading “Bitcoin records biggest negative hash rate adjustment in a year”
Glassnode and CryptoSlate Deep Dive: How a cold winter is impacting Bitcoin miners and why the fear has just begun – Issue 01 The current state of Bitcoin Miners is extremely stressful as coin prices declined, and credit has contracted, while mining input energy costs have also been on the rise. 🤝 Brought to you …
Continue reading “Singapore requires banks to hold $125 for every $100 Bitcoin exposure”
Shark Tank star Kevin O’Leary, aka Mr. Wonderful, has shared how he and Sam Bankman-Fried (SBF) almost raised $8 billion from institutional investors to save crypto exchange FTX before it collapsed. However, when reports emerged of FTX being investigated by several authorities, including the U.S. Department of Justice (DOJ) and the Securities and Exchange Commission …
Reports on Monday detail that the zero-Covid policy protests in China have lowered market sentiment as U.S. equity markets show the top four Wall Street indexes are struggling. The global crypto market cap is down 3.5% and getting awfully close to dropping below the $800 billion mark. Precious metal prices, on the other hand, like …
On Nov. 28, 2022, the crypto lender Blockfi informed the public via a press release that the company has voluntarily petitioned for Chapter 11 bankruptcy protection. Blockfi is now one of many digital currency businesses dealing with significant financial hardships and bankruptcy proceedings in 2022. Blockfi Voluntarily Petitions for Chapter 11 Bankruptcy Protection Blockfi has …
Popular on-chain analyst Willy Woo has a “max pain” model for Bitcoin that suggests a floor price for BTC at the bottom of its bear market. Woo tells his one million Twitter followers that he’s estimating a Bitcoin bottom by looking at where BTC’s price would be if 58% to 61% of all coins would …
Binance CEO Changpeng Zhao reportedly says the world’s governments should regulate the digital asset industry instead of opposing it. Reuters reports that during a speech at a Binance event in Athens, Greece, the chief executive of the largest crypto exchange by volume says that authorities should embrace the industry now that they know it’s becoming …
Continue reading “Binance CEO Changpeng Zhao Makes Prediction on Crypto Regulation: Report”
Crypto industry veteran Bobby Lee says that bad actors ignorant of regulation have to be expunged from the market. In a new interview with Bloomberg Markets Asia on Yahoo Finance, Lee, co-founder of Hong Kong-based crypto exchange BTCC, reveals what price he expects Bitcoin (BTC) to bottom out at the end of the bear market. …
A platform dedicated to tracking Solana’s key on-chain metrics says hundreds of millions of dollars worth of SOL are now in the hands of Alameda Research liquidators. Solana Compass reveals that Sam Bankman-Fried’s bankrupt trading firm Alameda Research previously controlled 48,636,772 SOL tokens worth over $643 million at time of writing. With Solana down nearly …
Digital asset custody platform GK8 has partnered with USI Insurance Services to expand its insurance policy for institutional customers — a move the company said would incentivize banks and other financial institutions to start investing in cryptocurrency. The insurance policy offers up to $1 billion of coverage per client for digital assets stored in GK8’s …
Continue reading “GK8 increases insurance cap on digital assets to $1B”
Bitcoin (BTC) bears have been in control since Nov. 11, subduing BTC price below $17,000 on every 12-hour candle. On Nov. 28, a drop to $16,000 shattered bulls’ hope that the 7% gains between Nov. 21 and Nov. 24 were enough to mark a cycle low at $15,500. The most likely culprit was an unexpected …
On Nov. 28, users of decentralized finance, or DeFi, lending platform Compound Finance passed a proposal to impose restrictions on the maximum borrowing of 10 tokens on the protocol. The proposal was put forth by financial modeling firm Gauntlet and passed with a majority “Yes,” although total turnout amounted to less than 7% of the …
Continue reading “Compound Finance to impose lending caps in light of failed Aave exploit”
According to a new Twitter post by Ryan Selkis, CEO of blockchain research firm Messari, Grayscale Bitcoin Trust’s (GBTC) controlling shareholders Genesis Global and Digital Currency Group cannot simply “dump” their holdings to raise more capital. Selkis explained that the restrictions are due to Rule 144A of the U.S. Securities Act of 1933, which forces …
Continue reading “Controlling shareholders’ stakes in GBTC are ‘highly illiquid’: Report”
The FTX disaster did not only cause the market to crash even more; it also highlighted the urgent need for a cutting-edge, innovative platform that […] Go to Source
Robert Kiyosaki, the well-known author of the best-selling book Rich Dad Poor Dad, continues to be bullish on bitcoin despite the failure of cryptocurrency exchange […] Go to Source
