Kraken doubled its revenue in 2024 to $1.5 billion in earnings, a 128% increase from the previous year, according to its latest released financial data. The exchange also disclosed that it holds $42.8 billion in customer assets, with an average revenue of more than $2,000 per customer. Kraken’s earnings before interest, taxes, depreciation, and amortization …
Continue reading “Kraken revenue surges 128% to $1.5 billion in 2024 amid strategic overhaul”
Tether reported $7.8 billion in Bitcoin (BTC) holdings in the fourth quarter, which boosted its profits to over $13 billion last year. The company’s informed price of $93,812 puts its Bitcoin stash at 83,758 BTC. Meanwhile, the firm’s profits increased by $5.3 billion in the fourth quarter. According to the assurance opinion conducted by global …
Continue reading “Tether discloses 83,758 BTC holdings and $13 billion profit in 2024”
Grayscale Investments announced the launch of the Grayscale Dogecoin Trust on Jan. 30, marking a significant milestone in institutional access to Dogecoin, the crypto initially created as a joke but now valued at billions. The new single-asset fund offers accredited investors exposure to Dogecoin (DOGE) through a traditional security format, eliminating the complexities of directly …
Continue reading “Grayscale launches trust for institutional access to Dogecoin”
Bitwise Chief Investment Officer Matt Hougan has questioned the persistence of Bitcoin’s (BTC) historical four-year cycle, suggesting that recent policy shifts in Washington could extend the current bull market into 2026 and beyond. In a letter to clients, Hougan highlighted that Bitcoin has traditionally followed a cycle of three strong years followed by a pullback. …
Continue reading “Bitwise CIO believes Bitcoin’s traditional 4-year cycle is over”
Tether announced that USDT will be integrated into the Bitcoin ecosystem, including both its base layer and the Lightning Network. Bitcoin’s ‘Unmatched’ Decentralization Stablecoin issuer Tether announced Jan. 30 that USDT will be integrated into the Bitcoin ecosystem, including both its base layer and the Lightning Network. The company said the integration combines Bitcoin’s “unmatched” …
Continue reading “Tether and Lightning Labs Partner to Bring USDT to Bitcoin’s Base Layer”
The father of the world’s richest man hopes to raise $200 million from a crypto project dubbed “Musk It” to fund a think tank. ‘Musk It’ Memecoin Endorsed By Elon Musk’s Father Elon Musk’s father Errol Musk has endorsed ‘Musk It,’ a Solana memecoin that Errol hopes to profit from to the tune of $200 …
Continue reading “Elon Musk’s Controversial Dad Looks to Cash in on Memecoin Feeding Frenzy”
Cipher Mining Inc. announced a $50 million private investment in public equity (PIPE) from Softbank Group Corp., positioning the technology-focused investor as a key stakeholder in the company. Softbank Becomes Key Investor in Cipher Mining Cipher Mining’s (Nasdaq: CIFR) transaction involves Softbank purchasing approximately 10.4 million shares of Cipher’s common stock, with the funds directed …
Continue reading “Bitcoin Miner Cipher Secures $50 Million Investment From Softbank”
The cryptocurrency market appears primed for an extended rally as stablecoin liquidity reaches unprecedented levels, fueled by the rapid expansion of tether (USDT) and Circle’s USDC, according to an end-of-the-month analysis from blockchain analytics firm Cryptoquant. Cryptoquant Report Examines Stablecoin Growth and Market Implications Cryptoquant analysts disclosed that the total market capitalization of USD-pegged stablecoins …
The positive momentum on bitcoin ETFs continued with another day of net inflows worth $588 million, while ether ETFs bounced back with a net inflow of $67.77 million. Bitcoin and Ether ETFs Record Significant Inflows As Market Confidence Strengthens U.S. spot bitcoin exchange-traded funds (ETFs) recorded a significant net inflow of $588.22 million on Thursday, …
Continue reading “Bitcoin ETFs See $588 Million Inflow As Market Momentum Continues”
