Author: Teererai Mukonavanhu

Article written by Teererai Mukonavanhu

Analysts believe Bitcoin may have reached a market bottom despite recent volatility

August 6, 2024 1 min read

The fluctuation in the crypto market has sparked conjecture regarding a probable lowest point in the market for Bitcoin and Ethereum, despite substantial volatility undermining investor trust. The recent fluctuations in prices have led to significant liquidations amounting to $1.06 billion, with $901.33 million originating from long positions and $159.41 million from short positions. This substantial decline in value highlights the unpredictable nature of the cryptocurrency markets, causing unease among

Grayscale’s new Bitcoin Mini Trust offers the lowest fees in the US

August 1, 2024 1 min read

Grayscale has released the Bitcoin Mini Trust, a new way to buy that costs less than the Grayscale Bitcoin Trust (GBTC). The trust is a cheaper way to invest in Bitcoin and has been allowed by the US Securities and Exchange Commission (SEC). It is the cheapest Bitcoin exchange-traded product (ETP) in the United States, with an expense ratio of 0.15% when it launched. It did better than newly launched

The US government moves $2 billion in seized Bitcoin after Trump vowed to hold onto government crypto

July 30, 2024 1 min read

The US government moved $2 billion worth of Bitcoin it took from the Silk Road to new addresses. This is in line with former President Donald Trump’s plan to stop selling Bitcoin owned by the government if he wins the election again. The on-chain data from Arkham Intelligence showed that about 28,000 BTC were moved from the DOJ-confiscated funds on the Silk Road to two different accounts. The move has

Bitcoin price surges to $69,297 today, registering a 3.1% increase in 24 hours

July 28, 2024 1 min read

Bitcoin is poised to exceed the $70,000 threshold due to the anticipation of a substantial announcement regarding Bitcoin’s involvement in the United States’ financial policy during Donald Trump’s keynote speech at the Bitcoin 2024 Conference in Nashville. The price of Bitcoin reached its highest point at $69,300, indicating a 3.1% surge within the last 24 hours. Robert F. Kennedy Jr., a contender for the US presidency, proposed the idea that

The State of Michigan Retirement System holds $6.6 million in 21Shares’ ARKB ETF

July 27, 2024 1 min read

The State of Michigan Retirement System has allocated $6.6 million towards its investment in ARKB, a Bitcoin exchange-traded fund operated by 21Shares. The investment constitutes approximately 0.004% of the $143 billion held by the state in its pension fund. It reflects the increasing exposure and acceptance of spot Bitcoin ETFs in the United States. In January 2024, the Securities and Exchange Commission (SEC) approved spot Bitcoin ETFs to be traded.

Grayscale Ethereum ETF sees over $1 billion in outflows since its debut

July 26, 2024 1 min read

Grayscale’s Ethereum ETF (ETHE) lost over $1 billion in three trading days after its conversion, lowering assets under management from $9 billion to $7.4 billion. Inflows were led by BlackRock’s iShares Ethereum Trust (ETHA), which attracted $71 million and followed by Grayscale’s Ethereum Mini Trust (ETH), a spinoff of Ethereum Trust. Fidelity’s Ethereum Fund (FETH), Bitwise’s Ethereum ETF (ETHW), VanEck’s Ethereum ETF (ETHV), and Invesco/Galaxy’s QETH all saw inflows. A

A subsidiary of the Coinbase Group was fined $4.5 million by FCA for onboarding high-risk customers

July 25, 2024 1 min read

The UK’s Coinbase subsidiary, CB Payments Limited (CBPL), has been fined £3.5 million ($4.5 million) by the Financial Conduct Authority (FCA) for multiple violations of anti-money laundering legislation. This is the initial enforcement action carried out by the FCA following the Electronic Money Regulations 2011 against a cryptocurrency company. In October 2020, CBPL voluntarily agreed with the FCA to stop accepting high-risk customers to enhance the firm’s financial crime controls.

Sui Foundation announces the integration of Amazon Web Service’s (AWS) blockchain

July 23, 2024 1 min read

The Sui Foundation has announced the integration of Amazon Web Service’s (AWS) Blockchain Node Runners on Sui, offering developers a self-managed node deployment solution. This allows builders to set up and deploy Sui full nodes within the AWS environment, benefiting from the high availability, scalability, and reliability of AWS’s robust cloud infrastructure. AWS Blockchain Node Runners simplifies the process of running blockchain nodes, allowing users to easily deploy, scale, manage,

Chainbase raises $15 million in a Series A round

July 19, 2024 2 mins read

Chainbase announced it has successfully secured $15 million in a Series A funding round to enhance the development of on-chain data networks. Notable investors such as Tencent and Matrix Partners have participated in this funding round. The company’s objective is to function as a transparent and accessible data framework during the era of artificial intelligence. It seeks to overcome the obstacles of openness and fairness that are impeded by the

Bitcoin ETFs see a $300 million inflow over seven days

July 17, 2024 1 min read

On July 15th, 2024, the total net inflow of $301 million was recorded for all 11 US spot Bitcoin ETFs, marking their continuous run of seven days. The iShares Bitcoin Trust (IBIT) from BlackRock had the highest net inflow of $117.25 million, making it the most actively traded Bitcoin ETF on that particular day. ARK Invest and 21Shares’ ARKB experienced net inflows of $117.19 million, demonstrating significant interest from institutional

A Web3 market maker and investment firm announces plans for continued growth

July 11, 2024 1 min read

DWF Labs, a Web3 market maker and investment firm, has announced plans for continued growth and innovation amidst challenging market conditions. The company has been expanding since its inception and is focusing on transparency and fair market practices. In 2023, DWF Labs was recognized by Binance as the most active investor and Bybit’s top liquidity provider. The firm aims to be the next-generation liquidity partner, providing end-to-end support for its

Bitwise Asset Management is being sued for $2 million by Vandelay Industries

July 10, 2024 1 min read

Vandelay Industries has initiated legal proceedings against Bitwise Asset Management, seeking damages amounting to $2 million. The allegations include accusations of financial impropriety, such as breach of fiduciary duty, carelessness, fraud, and violation of securities laws. In 2018, the Mukamal family made a $1.3 million investment in the Bitwise HOLD 10 Private Index Fund. In 2020, this fund became openly traded on OTC marketplaces and subsequently raised its management fees