The report included 35 pages seemingly aimed at debunking the merits of crypto assets.
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'Operation Choke Point 2.0' may have contributed to SVB collapse: Mulvaney
While the existence of "Operation Choke Point 2.0" has not been confirmed, Mick Mulvaney spoke of “rumors” of its existence and the potential side effects of such a policy.
Bitcoin's banking crisis surge will 'attract more institutions': ARK's Cathie Wood
Cathie Wood was impressed that Bitcoin “moved in a very different way” compared to the equity market in response to the recent banking crisis.
Magic Eden launches marketplace for Bitcoin Ordinals
It’s one of the first major NFT marketplaces to join the Bitcoin Ordinals fray.
Celsius custody account holders can receive 72.5% of their crypto, says bankruptcy judge
Should they opt in to the deal, Celsius customers cannot “pursue any litigation, including seeking relief from the automatic stay, turnover, or other claims or causes of action.”
Web2 giants coming into Web3 could benefit ecosystem — PBW founder
Paris Blockchain Week founder Michael Amar believes large Web2 companies entering the Web3 space bring resources capable of increasing mass adoption.
CCP Games secures $40M funding for upcoming Web3 game
The financing was led by venture capital firm Andreessen Horowitz, with participation from Makers Fund, BITKRAFT, Kingsway Capital and HASHED, among others.
Sushi sets up legal defense fund after SEC subpoenas head chef Jared Grey and DAO itself
The DAO said it would not be commenting on “ongoing legal investigations,” but its existing $100,000 defense fund was apparently not enough.
Texas lawmaker introduces resolution to protect Bitcoin miners and HODLers
The Lone Star State is already home to many crypto and blockchain firms as well as miners taking advantage of the regulatory-friendly environment.
Bitcoin holds $28K due to spot buying, but institutional investors are still selling
BTC price continues to show bullish momentum, but the absence of whale buyers and institutional investor selling threatens to weaken the current rally.
Bitcoin holds $28K due to spot buying, but institutional investors are still selling
Bitcoin’s price broke above the February 2023 highs of $25,200 after U.S. inflation data was in consensus with the market expectation. The potential fallout of the global banking system further promoted Bitcoin investment as a non-correlated global hedging instrument similar to gold in March. The correlation between gold and Bitcoin (BTC) has been rising since the start of the month.
Correlation coefficient between BTC and gold. Source: TradingViewHowever, institutions have become net sellers of Bitcoin in 2023, which raises some red flags. Bitcoin whales — wallets holding between 10 BTC and 10,000 BTC — have not participated in the current rally. It appears that retail investors are mainly driving the uptrend. The divergence between whale and retail investment could cause a short-term pullback in Bitcoin prices.
Institutions are forced BTC sellers, says analyst
Institutional crypto asset flows data from CoinShares reveals the largest two-week sell-off from investment funds since March 6. The outflows have erased the positive inflows for this year, with the net year-to-date flow equalling negative $177 million.
CoinShares’ data tracks the portfolio of global institutional funds with digital asset exposure, including Grayscale, CoinShares XBT, 21Shares, Purpose and 3iQ.
James Butterfill, CoinShares’ head of research, notes in the report that the flows “may be driven, in part, by the need for liquidity during this banking crisis, a similar situation was seen when the COVID panic first hit the market in March 2020.”
Bitcoin hits new 9-month highs above $28K as markets flipflop over FOMC
Bitcoin price action targets $28,500 with "all classes" buying BTC, but the odds of the Fed pausing rate hikes are decreasing by the hour.
Bitcoin hits new 9-month highs above $28K as markets flipflop over FOMC
Bitcoin (BTC) headed to new nine-month highs after the March 21 Wall Street open as a crucial Federal Reserve interest rate decision loomed.
BTC/USD 1-hour candle chart (Bitstamp). Source: TradingViewBitcoin price climbs despite conservative Fed view
Data from Cointelegraph Markets Pro and TradingView showed BTC/USD approaching $28,500 on Bitstamp.
The latest in a succession of multi-month highs, the latest BTC price action precedes what promises to be a volatile day for markets.
The Fed will announce how far — if at all — it will hike its baseline interest rate on March 22, with a pause in the hiking cycle seen as a boon-in-waiting for risk assets.
“Heavily interested to see the outcome of tomorrow,” Cointelegraph contributor Michaël van de Poppe, founder and CEO of trading firm Eight, wrote in part of a Twitter update.
CryptoUK calls on regulators to address de-banking of digital asset firms
The trade association said many banks in the U.K. had begun imposing blanket bans on dealing with crypto firms “instead of taking a risk-based and case-by-case approach.”
Speculators flock to Arbitrum IOU tokens ahead of this week’s ARB airdrop
Developers from the Arbitrum Foundation announced the launch of Arbitrum DAO and its native governance token, ARB, on March 16. Eligible users and developers will receive 12.75% of the token’s total supply of 10 billion on March 23, when the token will be deployed.
Speculation around ARB began soon after the token launch announcement on OTC desks, derivatives exchanges and spot exchanges via IOUs (I Owe You).
BitMEX launched the derivatives contract for ARB June futures on Monday around 11 p.m. EST. The futures contracts were trading at around $1.30 at the time of writing, implying that traders are betting that ARB’s price will be near this amount by June’s end.
The futures contract allows speculators to bet on the token’s price and Arbitrum airdrop receivers to hedge their holdings. Eligible ARB holders can buy a short futures contract to sell ARB tokens at a specific amount, protecting them against the downside in the token’s price post-launch on Thursday.
ARB/USDT monthly derivatives contract price on BitMEX. Source: BitMEXSome private Discord and Telegram OTC desks are witnessing active trading of ARB tokens for prices between $1 to $1.50. This trade is executed via a transfer of ownership of Ethereum wallets that are eligible for ARB airdrop.
Speculators flock to Arbitrum IOU tokens ahead of this week’s ARB airdrop
Developers from the Arbitrum Foundation announced the launch of Arbitrum DAO and its native governance token, ARB, on March 16. Eligible users and developers will receive 12.75% of the token’s total supply of 10 billion on March 23, when the token will be deployed.
Speculation around ARB began soon after the token launch announcement on OTC desks, derivatives exchanges and spot exchanges via IOUs (I Owe You).
BitMEX launched the derivatives contract for ARB June futures on Monday around 11 p.m. EST. The futures contracts were trading at around $1.30 at the time of writing, implying that traders are betting that ARB’s price will be near this amount by June’s end.
The futures contract allows speculators to bet on the token’s price and Arbitrum airdrop receivers to hedge their holdings. Eligible ARB holders can buy a short futures contract to sell ARB tokens at a specific amount, protecting them against the downside in the token’s price post-launch on Thursday.
ARB/USDT monthly derivatives contract price on BitMEX. Source: BitMEXSome private Discord and Telegram OTC desks are witnessing active trading of ARB tokens for prices between $1 to $1.50. This trade is executed via a transfer of ownership of Ethereum wallets that are eligible for ARB airdrop.
IRS calls for public feedback on taxing NFTs as collectibles
Those wishing to offer feedback to the IRS on having NFTs treated as collectibles, such as coins or works of art, have until June 19 to submit comments.
Why is Bitcoin rising amid collapsing banks? Watch The Market Report
On this week’s episode of The Market Report, Cointelegraph’s resident expert explains why Bitcoin is rising and why banks are collapsing.
Congressional privacy proposals could kill scores of blockchain projects
Lawmakers may be on the brink of scaring blockchain projects into moving offshore or causing them to shut down altogether.
DeFi insurance payouts amounted to $34.4M in 2022: Report
Ninety percent of all DeFi insurance claims paid out since inception were distributed in 2022, according to OpenCover.