Markets

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...

Trending memecoin Pepecoin (PEPE) has plummeted by more than 55% in the last four days after a remarkable performance turned several investors into overnight millionaires.  The memecoin, which jumped to the 45th largest cryptocurrency by market capitalization within three weeks after its launch, began a downward spiral on Friday, May 5, after it was listed for trading on Binance, the world’s largest crypto exchange.  PEPE Drops 55% From ATH At the time of the Binance listing...

PayPal has been forced to update its 2023 earnings outlook due to its latest financial reports. Multinational digital payment company PayPal (NASDAQ: PYPL) has released the financial report of its earnings in the first quarter of 2023. PayPal benefited from the outbreak of the novel coronavirus in 2020 as more people switched to online transactions. The company’s revenue ascended from $17.8 billion in 2019 to over $25 billion in 2021. Its shares also increased significantly during the...

Earn Your First Bitcoin Sign up and get $12 Bonus Referral bonus up to $3,000 Sign up ADA price is showing bearish signs below the $0.40 support zone against the US Dollar. The price is now trading below $0.40 and the 55 simple moving average (4 hours). There is a key bearish trend line forming with resistance near $0.375 on the 4-hour chart (data feed via Coinbase). The price could continue to...

Earn Your First Bitcoin Sign up and get $12 Bonus Referral bonus up to $3,000 Sign up Ethereum price is gaining bearish momentum below the $1,885 resistance against the US Dollar. ETH price is now trading below $1,885 and the 55 simple moving average (4 hours). There was a break below a key bullish trend line with support at $1,885 on the 4-hour chart (data feed from Coinbase). The pair could...