Everything web3, crypto, defi, degen
In brief The Fed’s end of quantitative tightening places Bitcoin at a critical liquidity juncture. Aside from short-term volatility, the crypto market is unlikely to repeat the post-Fed pivot scenario of 2019 amid higher interest rates and institutional demand, Decrypt was told. A favorable macro and geopolitical outlook could extend the bull run, analysts say.…
In brief Sam Bankman-Fried’s X account has shared a document in his defense. It claims that the bankrupt crypto exchange was never actually insolvent. FTT would be worth $22 billion today if FTX and Alameda survived, it adds. An account once used by Sam Bankman-Fried, founder and former CEO of bankrupt crypto exchange FTX, posted…
In brief Prediction market users are reflecting market uncertainty with swaying predictions on crypto price movements. Bears have taken control in the market that asks for Bitcoin’s next stop—$100,000 or $120,000. Users on Myriad think BNB’s market cap will outrank XRP next week. Uncertainty in the crypto market has led to a tighter price range…
In brief Bitcoin dropped more than 6% during Q3, a more tepid performance than in the previous quarter. On Monday, Strategy announced a $43 million Bitcoin purchase for its treasury, its largest in a month. Co-founder Michael Saylor has remained upbeat about Bitcoin, despite its price drop this month. Leading Bitcoin treasury Strategy (MSTR) generated…
In brief BNB and XRP are currently pulling back, with just a $500 million separating them in market cap. Traders on the Myriad prediction market are split, giving BNB a slight edge over XRP at 55%. Here’s what the charts say. After weeks of trading in parallel, the gap for cryptocurrency’s fourth-largest spot by market…
In brief Coinbase disclosed $1.9 billion in Q3 revenue. The exchange notched $433 million in Q3 profit Transaction revenue rose on a sequential basis, Coinbase said. Coinbase reported $1.9 billion in third-quarter revenue on Thursday, a 26% increase quarter-over-quarter that slightly surpassed Wall Street forecasts.Analysts expected the San Francisco-based crypto exchange to disclose $1.8 billion…
In brief AI computing company CoreWeave was set to buy Bitcoin miner Core Scientific in a $9 billion all-stock deal. But Core Scientific shareholders rejected the proposed transaction on Thursday. Shares of CoreWeave dipped on the news; Core Scientific’s stock rose. Bitcoin miner Core Scientific shareholders have rejected a proposed $9 billion merger with AI…
In brief Solana and XRP futures are CME Group’s fastest growing crypto products. They have benefited from maturing markets, CME’s Giovanni Vicioso said. They allow market participants to pursue popular trading strategies, he added. Bitcoin and Ethereum walked, so Solana and XRP could run, according to Giovanni Vicioso, CME Group’s global head of cryptocurrency products.The…
In brief KitKat, a beloved San Francisco bodega cat, has died after allegedly being hit by a Waymo self-driving taxi. Crypto degens have launched and are trading a range of KitKat-themed tokens in response. Those mourning the furry friend are calling for the city to reassess its relationship with self-driving cars, while meme coin traders…
In brief Drake faces a class-action lawsuit accusing him and Adin Ross of promoting Stake.us, an allegedly illegal gambling site posing as a “social casino.” The suit says Stake used digital “Gold Coins” to mask real-money betting and that Drake’s promotions targeted young fans. In a potential departure from past celebrity crypto cases, plaintiffs argue…
