Everything web3, crypto, defi, degen
In brief Bitcoin dropped below $104K Tuesday morning, down 17.5% from its peak, amid a broad market sell-off. A DeFi crisis with $284 million in bad debt and macro fears is influencing the investors’ risk-off move, according to analysts. The leverage flush could reset the market for a more sustainable recovery, analysts told Decrypt. The…
In brief The firm will slide Palisade’s offerings into its Ripple Payments and Ripple Custody solutions. Ripple acquired Hidden Road and GTreasury in billion dollar deals earlier this year. Ripple ended a four-year legal battle with the SEC this August. Ripple has acquired digital wallet provider and custody firm Palisade, the blockchain-based financial technology company…
In brief Ripple Prime clients will have access to dozens of cryptocurrencies. Customers can engage in OTC spot transactions, Ripple said. Hidden Road was a multi-asset prime brokerage. XRP-linked fintech Ripple began letting U.S. customers access spot trading for dozens of cryptocurrencies through its Ripple Prime service, the company said in a blog post on…
After a rough October that didn’t produce the expected “Uptober” gains for Bitcoin and other top crypto assets, November’s getting off to a rough start.Major crypto assets are deep in the red so far on Monday, with Bitcoin diving by 4% and altcoins showing much larger losses. All the while, liquidations are piling up, with…
In brief REX Shares unveiled the REX IncomeMax Option Strategy ETF. The products seeks to turn volatility into weekly income. The product has exposure to several crypto firms. REX Shares unveiled an exchange-traded fund on Friday that will try to turn price swings into weekly income for some of the U.S. market’s most volatile stocks,…
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 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 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…
