In a recent report, Kerrisdale Capital has taken a strong stance against the overvaluation of MicroStrategy’s shares. They argue that the premium at which the shares are trading, representing over two and a half times the spot price of Bitcoin, is unwarranted. According to Kerrisdale Capital, for MicroStrategy’s shares to be justified at their current
Crypto
The hacker behind the $11.6 million theft from Prisma Finance’s decentralized finance (DeFi) protocol has claimed that the exploit was a “whitehat rescue.” This term refers to the actions of a hacker who uses their skills to identify security vulnerabilities in software code. The attacker reached out via on-chain messages, expressing a desire to return
Coin Bureau’s host, Guy Turner, has shared optimistic views on the potential breakout of SOL, suggesting a significant increase of 35% to 45% above the $300 mark. This bullish sentiment is supported by the positive trends seen in both weekly and monthly charts since the beginning of 2024. Turner believes that SOL is displaying strong
In a recent tweet, Matt Hougan, the CIO of Bitwise, shared insights from his 20-day road trip where he engaged with various financial advisors. Some advisors had already allocated 3% of their client’s portfolios to Bitcoin ETFs, while others had not considered it at all. This discrepancy in adoption rates indicates a potential for continued
The recent allegations against major crypto exchange KuCoin, along with its founders Chun Gan and Ke Tang, accuse them of failing to implement Anti-Money Laundering (AML) and Know Your Customer (KYC) procedures. Prosecutors claim that this failure allowed the platform to be used for laundering illicit funds from criminal activities. This lack of AML and
Over the weekend, a significant event occurred in the world of cryptocurrency as the fifth richest Bitcoin address made a massive transfer of $6 billion worth of Bitcoin to three new wallets. This action raised eyebrows within the crypto community due to its unusual nature. Initially funded with a staggering 94,500 BTC ($6.05 billion) back
Ark Invest recently made headlines by selling 74,291 Coinbase shares, totaling $20.8 million across three of its exchange-traded funds. This move follows the firm’s previous sale of over $100 million worth of Coinbase shares when the price of COIN soared to new yearly highs. The shares were sold from the Innovation ETF (ARKK), Next Generation
CommEX, a crypto exchange that recently took over Binance’s operations in Russia, has shocked its users by announcing its decision to cease operations in the country. This move comes after Binance’s exit from Russia, which was initially announced in September 2023. The withdrawal process was expected to take approximately one year to complete, but CommEX
Bitcoin’s price has recently experienced a period of sideways consolidation around the significant $60K price level. This phase came after a notable surge towards the all-time high of $73K. The daily chart analysis shows that the price is currently hovering between the support region of $60K and the substantial resistance of $73K. The Fibonacci retracement
The ongoing legal battle between Ripple and the US Securities and Exchange Commission (SEC) is quickly approaching its trial phase, set for April 23. This contentious issue, which has been unfolding for over three years, is now reaching a critical juncture. American lawyer James Filan recently disclosed that the SEC has submitted its opening remedies-related
Recently, U.S. District Judge Robert Shelby made a significant decision to levy sanctions against the Securities and Exchange Commission (SEC) for serious misconduct in the legal action against Utah-based cryptocurrency firm DEBT Box. The judge accused the SEC of engaging in a “gross abuse of power” in its handling of the case, sparking widespread attention
Bitcoin’s price movements have been somewhat lackluster over the weekend, with the asset hovering around $64,000. This comes after a week of significant volatility that saw the cryptocurrency fall from $69,000 to under $61,000 before rebounding and hitting $68,000. However, the rally was short-lived, and Bitcoin is now struggling to stay above $66,000. Profit-taking by
In a heartbreaking turn of events, a 46-year-old housewife in Hong Kong recently came forward to report losses of 7.1 million Hong Kong dollars ($908,000) after falling victim to a fraudulent crypto investment platform. The woman was initially contacted by fraudsters through Instagram in July 2022, where they urged her to invest in cryptocurrencies through
Recent reports from the United Nations Security Council have shed light on the significant role that cyberattacks play in North Korea’s economy. These cyberattacks have not only resulted in substantial financial losses for various companies but have also raised concerns about the country’s involvement in illicit activities. This article will delve deeper into the implications