Author: Ava Patel

Article written by Ava Patel

Goldman Sachs now manages $419M in Bitcoin ETFs

August 14, 2024 1 min read

Goldman Sachs has expanded its participation in digital assets, overseeing a total of $419 million in Bitcoin exchange-traded funds (ETFs) according to its statement with the Securities and Exchange Commission (SEC). This action is consistent with a broader pattern observed among financial institutions that are adopting digital assets. The objective is to offer clients the opportunity to invest in the expanding crypto market by means of different ETF holdings. The

Tether Operations Limited invests $3 million in Kem, a money transfer and financial management app

August 14, 2024 1 min read

Tether Operations Limited is making a $3 million investment in Kem, an app for transferring money and managing finances, in order to bring the stablecoin Tether USD (USDT) into the platform. Between July 2022 and June 2023, the Middle East and North Africa area received a total of $389.8 billion in on-chain value, making it the sixth-largest crypto economy worldwide. The investment seeks to enhance economic circumstances in Kuwait, Bahrain,

BitGo’s shift to a multi-jurisdictional WBTC custody model sparks concern over Justin Sun’s involvement 

August 12, 2024 1 min read

BitGo, a leading provider of crypto custody services, is changing the structure of its Wrapped Bitcoin (WBTC) to encompass many jurisdictions and organizations. Justin Sun’s position as the founder of the TRON blockchain has raised concerns in the crypto sector regarding this move. The company stated that it will require 60 days to finalize the shift, thereby extending its custodial operations to include Hong Kong and Singapore. The objective is

Japan’s financial regulator urges caution on crypto-ETFs

August 9, 2024 1 min read

Hideki Ito, the commissioner of Japan’s Financial Services Agency (FSA), has advised exercising prudence in the approval of exchange-traded funds (ETFs) based on cryptocurrencies. This stance differs from that of other countries, which have shown greater openness towards such investment vehicles. He stressed the importance of exercising “careful deliberation” prior to approving crypto-linked ETFs in Japan, given that crypto does not consistently contribute to the stable and sustainable generation of

Bitcoin and Ethereum options worth $2.5 billion set to expire

August 9, 2024 1 min read

Today, options for Bitcoin and Ethereum with a total value of approximately $2.5 billion are scheduled to expire, after a week of notable market volatility. Investors consider the expiration of these options to be essential as they evaluate the potential effects on market patterns. Bitcoin options, with a total value of around $2 billion, have a significant price level known as the “maximum pain” level. This level is the price

This investor loses over $1 million to a fake crypto scheme in Singapore

August 7, 2024 1 min read

Investors from Singapore incurred a financial loss of $1.1 million due to a deceptive crypto scheme, which serves as a clear example of the hazards involved in investing in apparently profitable ventures. A&A Blockchain Innovation, established by Chinese entrepreneur Yang Bin, secured $6.7 million in investors by pledging significant profits from its purported cryptocurrency mining venture. The company introduced its Chain Mining Scheme and promoted it extensively to local investors,

Hacker converts $40 million DAI into ETH after 2 years

August 6, 2024 1 min read

An individual associated with a significant crypto crime from two years ago has taken advantage of a sudden decrease in Ethereum pricing by converting around $40 million worth of the stablecoin DAI into Ethereum. The hacker exchanged DAI for about 17,000 Ethereum tokens during a decline in pricing and subsequently transferred these tokens in multiple transactions to Tornado Cash, a privacy-oriented service. Notwithstanding this acquisition, Ethereum has seen difficulties in

Bitcoin rebounds 9% to $55,000 as Spot Bitcoin ETFs see record $5 billion trading volume

August 6, 2024 1 min read

Bitcoin (BTC) has experienced a significant 9% rebound in the last 24 hours, and investors in spot BTC exchange-traded funds (ETFs) have demonstrated tenacity. On August 5th, ETFs such as BlackRock’s IBIT did not experience any outflows, while significant alternative cryptocurrencies like Solana’s (SOL) saw a gain of 21.4%. This recovery may be an organic response to the market, as BTC had the most significant downturn of the current cycle,

Kamala Harris strengthens her presidential campaign by securing crypto endorsements

August 4, 2024 1 min read

Kamala Harris is getting ready for her run for president by getting closer to people in the crypto business. She has gotten support from important people like J.P. Theriot and added a crypto expert to her team to make her campaign more appealing to people in the crypto sector and improve her chances of winning the race. Crypto fans are becoming more interested in Kamala, even though most people in

Ripple partners with OpenEden, investing $10M to launch tokenized US Treasury bills

August 3, 2024 1 min read

Together with Ripple, OpenEden has put its tokenized US Treasury bills, TBILL, on the XRP Ledger (XRPL). By putting US Treasury bills on a digital platform, OpenEden’s TBILL tokens, which Ripple has invested $10 million in, are meant to bring together standard finance and decentralized finance (DeFi). The goal of the partnership is to bring together standard finance and decentralized finance (DeFi) by putting US Treasury bills on the internet.

MicroStrategy acquires 12,222 bitcoins at an average price of $65,882 each during Q2

August 2, 2024 1 min read

A business intelligence company called MicroStrategy has bought 12,222 bitcoins for $805.2 million since the second quarter of 2024. This brings its total shares to 226,500 BTC, which is an average price of $36,821 per Bitcoin. The business bought an extra 169 BTC in July for $11.4 million. In Q2, the company made $24.1 million from subscription services, which is up 21% year-over-year. However, overall sales dropped 7.4% to $111.4

Bitcoin (BTC) drops by over 5% over the past 24 hours

July 30, 2024 1 min read

Over the last 24 hours, Bitcoin’s value has dropped from $70,000 to just below $66,000, a 5.7% drop. Even so, it is still inside a range-bound channel that was made at the end of February and lasts for five months. Analysts are looking for signs to explain why market sentiment dropped so quickly after reaching a seven-week high for the asset. Trader and economist Alex Krüger noticed that prices and