Everything web3, crypto, defi, degen
In brief Litecoin surged 10% to $118, while Stellar gained 9% to $0.40. Short liquidations topped $480 million in 24 hours, as sentiment flips sentiment from fear to greed. Traders are rotating into older coins with Bitcoin rising more than 8% since September 28. The “Uptober” effect is in full swing. Kicking off what has historically…
In brief SEC decisions on applications for spot altcoin ETFs are on hold during the government closure. Analysts have been expecting the agency to approve Solana funds early this month. The regulator is weighing more than 90 applications for funds tracking different cryptos, combinations of tokens and digital asset strategies. Investors expecting U.S. Securities and…
In brief Sen. Ron Wyden (D-OR) alleged Wednesday that Pantera Capital founder Dan Morehead may have used Puerto Rican residency to improperly dodge U.S. taxes, and has avoided cooperating with an investigation into the matter for months. In a letter sent this week, Wyden said Morehead’s attorneys “have all but disappeared” since pledging to cooperate…
In brief Ethereum sits 13.8% from its all-time high versus Solana’s steeper 34.12% climb. Prediction market Myriad places odds at 62% that ETH hits a new high before any major drop. Myriad users are bearish at the moment on a new SOL high. Here’s what the charts are looking like. Goodbye “red September,” hello “Uptober.”…
In brief The U.K. government is seeking to keep most of the £5 billion ($7 billion) in Bitcoin it seized in 2018 from Zhimin Qian, who has pleaded guilty to possessing criminal property. The fraud’s victims have opened civil proceedings aimed at securing compensation, with the first hearing due in January. Legal experts suggest that,…
In brief The IRS and Treasury Department issued new guidance. Strategy no longer expects to become subject to CAMT. Shares rose 4.6% to $337 on Wednesday as Bitcoin jumped. Strategy, the world’s largest corporate holder of Bitcoin, is no longer anticipating a multi-billion tax liability from an increase in the value of its $75 billion…
In brief Bitcoin rose above $117,000 and gold hit a new all-time high Wednesday, with both assets benefiting from safe-haven demand. Stocks fell after the U.S. entered its first government shutdown in nearly seven years, with the S&P 500 and Nasdaq each down about 0.5% upon open. The shutdown’s duration remains uncertain, echoing the record…
In brief Defiance ETFs has debuted a new fund tracking the BITA Trillion Dollar Club Index. The ETF gives investors exposure to companies and assets with a $1 trillion market cap or higher. It tracks Bitcoin via BlackRock’s iShares Bitcoin Trust ETF. An exchange-traded fund tracking trillion dollar assets, including tech and crypto-related companies and…
In brief The crypto market is poised to close in the green for September as Bitcoin rallies above $114k. Altcoins like ADA and DOGE, though, aren’t faring nearly as well. Technical indicators and prediction market data diverge on the near and long-term market view. The crypto market is nursing another day of modest losses—but they’re…
In brief Bitcoin has historically performed well in October, posting green months nine out of the past 10 years. It has led traders to believe in the legend of “Uptober,” and this year is no different. However, market analysts warn that the reality is much more complex, with many macro factors ready to blow up…
