Bitcoin miner Core Scientific has successfully completed its reorganization process and is now emerging from Chapter 11 with a significantly improved financial position. The company’s recent reorganization plan has led to a remarkable $400 million reduction in debt, achieved through the conversion of debt from equipment lenders and convertible note holders into equity. This debt
Crypto
On Tuesday, January 9, 2024, the Securities and Exchange Commission (SEC) fell victim to a security breach that compromised the agency’s @SECGov X account. This breach allowed an unauthorized party to post false information regarding the approval of spot Bitcoin exchange-traded funds. In a recently released statement, an SEC spokesperson disclosed that multi-factor authentication (MFA)
Bitcoin exchange-traded funds (ETFs) have made a powerful entrance into the market, accumulating a significant amount of bitcoins in just six days of trading. As volumes increased, the assets under management (AUM) soared to over $3.96 billion. This article explores the impressive growth of these ETFs and provides an analysis of the top players in
The perception and use of digital assets, particularly Bitcoin, stablecoins, and Central Bank Digital Currencies (CBDCs), are undergoing a paradigm shift that may have far-reaching implications for the global dominance of the U.S. dollar. In a recent publication, Andrew Peel, the Head of Digital Assets at Morgan Stanley, warns that this shift could challenge the
The digital asset economy has experienced significant setbacks in the past year. It has been plagued by increasing interest rates, regulatory actions, financial insolvencies, and instances of fraud. Even the world’s second-largest stablecoin, USDC, has not been immune to these forces. The total circulating supply of USDC has declined from approximately $45 billion to about
Metamask, a popular Ethereum wallet, recently introduced Validator Staking support on its platform. This feature allows users to stake their tokens and participate in the Ethereum network by becoming validators. However, there are both advantages and disadvantages to consider before diving into the world of staking with Metamask. One of the major benefits of staking
Bitcoin, the world’s leading cryptocurrency, has recently experienced a 6% decrease in its price. Many have attributed this drop to the market impact of the newly approved spot Bitcoin Exchange-Traded Funds (ETFs). However, Jurrien Timmer, Fidelity’s Director of Global Macro, believes that this sell-off is just a short-term phenomenon rather than a long-term trend reversal.
Bitcoin’s recent decline following the approval of spot Bitcoin ETFs has not had the anticipated positive influence on its price. In contrast, Ethereum has seen a significant rise in price dominance against Bitcoin, with a notable increase over the past week alone. This increase in dominance is accompanied by a surge in new Ethereum addresses
In a surprising turn of events, a Bitcoin user unknowingly paid a staggering transaction fee that amounted to a whopping 4 BTC, equivalent to $172,000. The exorbitant fee was significantly higher than the actual amount being transferred, as the transaction itself only sent 2.9 BTC to the intended recipient. The fee alone accounted for over
The lending firm Celsius has been making headlines recently with its initiatives to repay creditors amidst its ongoing bankruptcy court proceedings. In the past week, Celsius transferred over $125 million worth of its Ether to crypto exchanges, following the lead of FTX and Alameda Research. This article delves into the details of these transfers and
Chainlink’s native token, LINK, recently experienced a significant downturn, causing concerns among investors. The decline was mainly attributed to speculation surrounding the potential rejection of the spot Bitcoin ETF by the US Securities and Exchange Commission (SEC). However, the latest data suggests that LINK is now decoupling from the altcoin pack, indicated by its ratio
In the fourth quarter of last year, 1inch experienced a significant increase in volumes and market dominance. According to a report by Messari, the popular decentralized exchange (DEX) aggregator recorded over $30 billion in executed volume, capturing a commanding 64% share of the Ethereum DEX aggregator market. This surge in volume can be attributed to
In recent years, Bitcoin (BTC) and Ethereum (ETH) have seen significant price surges, leading to speculation about the future potential of these cryptocurrencies. According to a research report by Coinbase Research and Glassnode, the current market cycle for BTC and ETH is following a similar pattern to previous years, during which their prices skyrocketed by
The recent approval by the United States Securities and Exchange Commission (SEC) for the launch of spot Bitcoin exchange-traded funds (ETFs) has sent shockwaves through the crypto market. Anthony Scaramucci, founder and CEO of SkyBridge Capital, one of the leading alternative asset management firms, has boldly predicted that Bitcoin will reach its all-time high by
