• SVB Financial Group, the parent company of Silicon Valley Bank, has filed for bankruptcy protection. • The filing is in the Southern District of New York and aims to preserve company value. • Customers will receive their funds from the Federal Deposit Insurance Corporation (FDIC) and an emergency plan from the Biden administration and […]
• The U.S. Securities and Exchange Commission (SEC) has rejected VanEck’s proposal for a Bitcoin spot ETF. • Two SEC commissioners criticized the regulator’s decision, stating that it applies “uniquely burdensome” rules to crypto products. • The SEC has rejected multiple proposals for a Bitcoin spot ETF in 2021, 2022, and 2017, citing concerns over […]
• Bitcoin mining companies are exhibiting resilience amidst the recent market downturn, with some showing gains despite Bitcoin being down 4.5%. • Silvergate Capital’s liquidation on March 2-3 has resulted in a decrease of $51 billion in the crypto market cap. • Despite this, several mining stocks have seen positive returns including Iris Energy Limited […]
• Coinbase recently announced their new product Base which enables anyone to build dApps cost-effectively. • Chris Blec argues that this is part of the World Economic Forum’s plan for CBDCs and a cashless society. • Coinbase stated that Base would not incorporate a token and Ethereum will be used as the native gas token. […]
• Public Bitcoin miners are in better financial health despite a 12.1% YoY drop in BTC holdings. • The shares of several miners have risen by three figures on the year-to-date (YTD) metric and miners are selling their BTC to exchanges at extremely low levels compared to previous years. • Bitcoin hash rate rose 34% […]
• Bitcoin (BTC) saw a realized loss of $200 million and a realized profit of $184 million on Feb. 9, following Kraken’s settlement with the SEC to end staking for U.S. customers. • The total net realized loss stands at $16.2 million, suggesting liquidations were the main driver of negative price action. • Net Realized […]
• NFTs accounted for 28% of the ETH gas usage in January. • The second, third, and fourth most significant shares of gas usage were Defi (8%), ERC20 (8%), and stablecoins (6%), respectively. • CryptoSlate analysts divided all transactions on the Ethereum (ETH) network into eight categories—Vanilla, ERC20, Stablecoins, DeFi, Bridges, NFTs, MEV Bots, and […]
• On-chain Bitcoin metrics suggest a bottoming of the market. • CryptoSlate revisited several Glassnode metrics which point to a price reversal. • Market Value to Realized Value (MVRV) further splits into Long-Term Holders and Short-Term Holders to indicate when the Bitcoin price is trading above or below fair value. Recent research into on-chain Bitcoin […]
• Former FTX CEO Sam Bankman-Fried (SBF) has released a Substack report detailing his account of what happened at FTX. • He claims that no funds were stolen and attributes the collapse of FTX to Alameda’s inability to hedge against a market crash adequately. • SBF believes that FTX can still recover with the right […]
• Animoca Brands has lowered its fundraising target for a web3 investment fund to $1 billion in the first quarter of 2023, down from its original target of $2 billion. • The fund, called Animoca Capital, will be co-managed by Morgan Stanley’s former executive, Homer Sun, and will be used to make strategic investments in […]
