The People’s Bank of China (PBOC), the country’s central bank, and seven Chinese regulatory agencies published a joint statement on Friday banning the unapproved issuance of Renminbi-pegged stablecoins and tokenized real-world assets (RWAs). The ban applies to both domestic and foreign stablecoin and tokenized RWA issuers, according to the statement, which was also signed by …
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Galaxy Digital Inc. (Nasdaq: GLXY) has authorized a share repurchase program of up to $200 million, allowing the company to buy back its Class A common stock over the next 12 months. According to a company announcement, the repurchases may be conducted on the open market or through privately negotiated transactions, including under Rule 10b5-1 …
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BRICS nation China is pouring paper money into gold at a relentless rate, according to a new report. China added one ton of gold to its reserves in December, worth approximately $178.98 million at current prices, reports the World Gold Council. Gold is trading at $5,074 an ounce at time of writing. China’s gold purchases …
Bitcoin (BTC) rebounding is now “highly probable” as BTC price action sets another bearish record. Key points: Bitcoin has never traded so far below its 200-day moving average, data shows. BTC price action is due “mean reversion” as a result. Analysis describes a “macro-driven” Bitcoin bear market now in progress. Bitcoin sees one of its …
Continue reading “Bitcoin beats FTX, COVID-19 crash with record dive below 200-day trend line”
Ether (ETH) has fallen by 30% over the past seven days, sliding to $1,900 from $2,800. The drop was accompanied by a sharp decline in futures activity, with Ether’s open interest falling by more than $15 billion over the same period. Analysts are now focusing on the long-term technical zones and onchain indicators that may …
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Political action committees (PACs) representing the interests of the crypto industry have already secured millions of dollars in funding as the US heads toward its midterm elections. Super PACs are the uber-rich, no-limits, non-disclosure counterparts to crypto PACs. Last year, the industry spent at least $245 million in campaign contributions alone. The main super PAC …
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The Bitcoin market would definitely bottom if Michael Saylor’s Strategy gets rekt, says Maksim Balashevich, founder of the crypto sentiment platform Santiment. “The biggest bull catalyst will be the liquidation of Saylor,” Balashevich tells Magazine. “The bull catalyst is when everything is bad. So bad it cannot be even worse,” the Switzerland-based crypto entrepreneur says. …
Galaxy Digital founder and CEO Mike Novogratz says Bitcoin (BTC) may be approaching a market bottom. Speaking on Bloomberg Television, Novogratz says Bitcoin’s drop to around $76,000 reflects selling pressure at the margin rather than a collapse in institutional interest. He says that while new institutions continue to enter the market, prices are still set …
ARK Invest, the asset manager led by prominent Bitcoin bull Cathie Wood, has shifted from buying to selling Coinbase stock, as the shares dipped 13% and hit multi-month lows. On Thursday, ARK offloaded 119,236 Coinbase (COIN) shares, valued at roughly $17.4 million, according to a trade filing seen by Cointelegraph. The sale comes just a …
Continue reading “Cathie Wood’s ARK dumps $17M in Coinbase stock as shares fall 37% YTD”
Pump.fun has acquired crypto trading terminal Vyper, which will wind down its standalone product and migrate its infrastructure into the Solana memecoin launchpad’s ecosystem. On Friday, Vyper said core parts of its product will begin shutting down on Tuesday, while limited functions will remain accessible. Users were directed to Pump.fun’s Terminal (formerly Padre) to continue …
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Bitcoin (BTC) liquidated billions of dollars going into Friday as BTC price action set bearish records. Key points: Bitcoin liquidates $2.6 billion as it sees its first red $10,000 daily candle ever. BTC price action dives further in percentage terms than on any day since the 2022 bear market. It may take until 2028 for …
Continue reading “Bitcoin sees record $10K drop as model says $93.5K may only return in 2028”
The billionaire founder of hedge fund giant Citadel, Ken Griffin, is issuing a warning on America’s financial health as the US national debt approaches $39 trillion. According to the U.S. Treasury Department’s Debt to the Penny dataset, the US national debt just reached $38.56 trillion, an increase of around $2.3 trillion in just one year. …
Bitcoin exchange-traded funds (ETFs) continued to see outflows on Thursday, shedding almost $1 billion over the past two days as debate grows over their potential impact on the market. Data from SoSoValue shows that spot Bitcoin (BTC) ETFs recorded $434 million in net outflows on Thursday, following $545 million in redemptions the previous day. Monday’s …
Continue reading “Bitcoin ETFs shed $434M as BTC briefly touches $60K, assets near $80B”
Metaplanet’s CEO Simon Gerovich doubled down on the company’s Bitcoin-first strategy as the wider crypto market suffered one of its harshest drawdowns since 2022. “[T]here is no change to Metaplanet’s strategy. We will steadily continue to accumulate Bitcoin, expand revenue and prepare for the next phase of growth,” Gerovich said Friday on X, according to …
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Large Bitcoin holders are now controlling the smallest share of the cryptocurrency’s supply since late May, when it first reclaimed $100,000 after more than three months, according to crypto sentiment platform Santiment. Santiment posted to X on Thursday that “whale and shark wallets” holding between 10 and 10,000 Bitcoin (BTC) have fallen to a nine-month …
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