Markets

The exit of Jane Street and Jump Crypto will contribute to the liquidity crunch in the market segment and this outlook is unhealthy for the industry. Market-making firms Jane Street Group and Jump Crypto are retreating from crypto trading in the United States due to regulatory uncertainty in the country. According to a report from Bloomberg, people familiar with the situation stated that Jane Street is taking a step further by lowering its global cryptocurrency ambitions. On the other...

Earn Your First Bitcoin Sign up and get $12 Bonus Referral bonus up to $3,000 Sign up Tron price started a fresh increase from the $0.0670 level against the US Dollar. TRX price is now trading near $0.0692 and the 55 simple moving average (4 hours). There is a major bearish trend line forming with resistance near $0.0694 on the 4-hours chart (data feed via Kraken). The pair could continue to...

Earn Your First Bitcoin Sign up and get $12 Bonus Referral bonus up to $3,000 Sign up Bitcoin price started a fresh decline below the $29,000 pivot level against the US Dollar. The price is now trading below $28,500 and the 55 simple moving average (4 hours). There was a break below a key bullish trend line with support at $28,400 on the 4-hour chart of the BTC/USD pair (data feed from...

After pleading guilty earlier this year, former Coinbase Product Manager Ishan Wahi has been sentenced to 2 years in prison in a landmark case for insider trading with cryptocurrencies.  The sentence exceeds the 10-month prison sentence of Ishan’s brother – Nikhil Wahi – with whom he conspired for the crime.  Two Years for Crypto Insider Trading According to a report from Reuters, Ishan Wahi was sentenced by U.S. District Judge Loretta Preska in a Manhattan Federal court on...

Coinbase has called for certain modifications to the proposed rule regarding registered investment advisers’ (RIA) obligations to hold client assets at qualified custodians. Even as the United States Securities and Exchange Commission (SEC) deemed Coinbase Custody as a “qualified custodian,” the crypto exchange believes the revised RIA rule makes “unwarranted assumptions about custodial practice.” Revisions Needed The chief legal officer of the San Francisco-based company,...

Galaxy Digital turned profitable in the first quarter of the year as the markets improved. Its founder and CEO, Michael Novogratz, revealed that the crypto financial services firm ended Q1 2023 with a liquidity position of $814 million. According to an official press release, Galaxy Digital reported $134 million in net income for the same period as compared to a net loss of $288 million in the fourth quarter of 2022. The income was attributed to the gains on digital assets as...

Ordinal inscriptions are on fire. Users are continuously flooding the Bitcoin network with images, video games, and other content. There are now more than 5 million inscriptions. Over the past seven days, the total inscription count has more than doubled from 2.5 million. Ordinals Skyrocket According to data from Dune Analytics, text-based inscriptions, also known as the BRC-20 token standard, accounted for a vast majority of the Bitcoin ordinal inscription. At the time of...

The stablecoins market is expected to significantly grow amid the mainstream adoption of Bitcoin and other digital assets globally. The rise of the Tether (USDT) stablecoin has been undisputed for several years. The Tether (USDT) stablecoin runs on more than 10 blockchains including Ethereum, Binance Smart Chain, Polygon, and Tron, among others. On the Ethereum network, Tether (USDT) has more than $36 billion in supply with about 4.3 million holders. The Tron network holds a vast amount of...

Binance has been aggressively growing its NFT marketplace in a variety of ways in order to become a top platform for buying, selling, and trading NFTs. Binance, the world’s largest crypto exchange has expressed interest in adding Bitcoin Ordinals to its Non-Fungible Token (NFT) marketplace by the end of May. According to the announcement, Binance will also offer royalty support and additional revenue-generating opportunities for Bitcoin NFT creators. Bitcoin Ordinals are becoming popular...

The network combines applications designed with Daml, Digital Asset’s smart contract language. Digital Asset, which is a financial technology firm, plans to introduce a global privacy-enabled interoperable blockchain network curated to offer a decentralized infrastructure for institutional clients, the announcement for which was made on Tuesday. Participants of the network, which is also called the Canton Network, include companies like BNP Paribas, Deloitte, Cboe Global Markets, Goldman...