GBTC ‘elevator to hell’ sees Bitcoin spot price approach 100% premium
Bitcoin (BTC) investment vehicle, the Grayscale Bitcoin Trust (GBTC), is trading close to 50% below the BTC price on spot markets. Data from on-chain analytics platform Coinglass confirms that on Dec. 8, GBTC shares hit a new record low of -47.2% against BTC/USD. GBTC troubles pile up post-FTX In the latest bout of nerves to […]
Getting funds out of FTX could take years or even decades: Lawyers
While investors are eager to know when they will be able to get their funds back from the now-bankrupt crypto exchange FTX, insolvency lawyers warn it could take “decades.” The crypto exchange, along with 130 affiliates filed for Chapter 11 bankruptcy protection in the United States on Nov. 11. Insolvency lawyer Stephen Earel, partner at […]
ConsenSys commits $2.4M annually to launch MetaMask Grants DAO
Blockchain technology firm ConsenSys will spend $2.4 million annually to fund its newly launched MetaMask Grants DAO aimed at driving further development of the Web3 ecosystem. The fund will be led by MetaMask employees who will manage the decentralized autonomous organization (DAO). The DAO will be responsible for issuing grants to developers working outside of […]
Over 200K BTC now stored in Bitcoin ETFs and other institutional products
Bitcoin (BTC) investment vehicles are seeing “gargantuan” inflows this month, which is a fresh sign that traders’ appetite for BTC exposure is mounting. Data from monitoring firm Arcane Research published this week shows that Bitcoin exchange-traded products (ETPs) now have record high BTC under management. “Happier days” for Bitcoin ETPs as buyers pile in Despite […]
Avalanche rebounds 25% in five days as AVAX price tests key level — big rally ahead?
Avalanche (AVAX) has rebounded strongly five days after testing a key inflection area as its support. Now, the AVAX/USD pair faces the possibility of continuing its upside retracement move further into Q2. A 30%-plus move ahead? AVAX’s price surged to almost $69.50 on May 5 from nearly $55 on April 30, a 25% jump. Interestingly, […]
FTX to deploy $1B through Future Fund for safer AI, reduced biorisk
Global crypto exchange platform FTX launched a fund called the FTX Future Fund with an aim to support long-term improvements for humankind. The project will deploy up to a billion dollars to support projects focusing on safe artificial intelligence development, reducing biorisk dangers, effective altruism and more. According to the announcement, the team will support […]
Matt Zhang on a mission to reinvent crypto for institutional investors
Institutional interest in cryptocurrencies is increasing as the space continues to mature. A survey released on Dec. 8 by European investment manager Nickel Digital Asset Management found that 85% of institutional investors and wealth managers have dedicated teams to review cryptocurrencies and digital assets. The study noted that the investors surveyed manage around $108.4 billion […]