Markets

In addition to seeking the grace period from Nasdaq, Astra also mentioned a possessive reverse stock split. Rocket launch startup Astra Space (NASDAQ: ASTR) has drawn a plan to avoid a delisting from the Nasdaq. The stock trading platform gave the small rocket builder a deadline to exceed a share price level of $1 or face removal. This came after Astra’s share remained below $1 for 30 consecutive business days, violating Nasdaq listing rules. At press time, Astra trades at $0.42, having...

Marathon Digital has also revealed the nature of its exposure to the now-defunct crypto-focused Silvergate Bank. Embattled Bitcoin (BTC) mining firm, Marathon Digital Holdings Inc (NASDAQ: MARA) has released its performance report for the fourth quarter (Q4) of 2022 in which it unveiled a poorer-than-expected revenue. According to the firm, its revenue came in at $28.4 million, down by 58% from its year-ago record. Marathon Digital operates in a very strained market as the global economy,...

Bitcoin cash started a decent increase above the $115 and $120 levels against the US Dollar. The price is now trading above the $120 zone and the 55 simple moving average (4-hours). There is a key bullish trend line forming with support near $126.80 on the 4-hours chart of the BCH/USD pair (data feed from Coinbase). The pair must clear $132 and $138 to continue higher in the near term. Bitcoin cash price is climbing above $120 against the US Dollar, similar to bitcoin....

Binance has announced Space ID (ID) as the 30th project it will host on its launchpad.  Space ID is the native token of the SPACE ID ecosystem, a Web3 identity protocol with a universal name service network. SPACE ID is developing a universal name service network that allows the discovery, registration, trading, and management of Web3 domains. Also, the project includes a Web3 Name SDK & API that allows developers to build and integrate all their Web3 identities into one toolkit.  How...

New York Judge Michael Wiles of the District Court of the Southern District of New York has denied the U.S. Department of Justice’s (DOJ) appeal to stay the $1 billion asset-sale plan between bankrupt crypto broker Voyager Digital and Binance.US. During a Wednesday hearing on the DOJ’s motion to halt the order pending appeal, Judge Wiles reiterated his approval of the plan on the basis that further delay would harm the interests of Voyager’s customers. Judge Denies DOJ’s...

The USDC depeg caused significant turmoil in the market last week. The stablecoin issuer Circle claimed that it has cleared “substantially all of the backlog of minting and redemption requests for USDC.” In a recent statement, Circle said it had redeemed $3.8 billion of USDC tokens over the period and minted $800 million. The Boston-headquartered company also went live with a new transaction banking partner for domestic US wires in and out on March 14. Circle further revealed...

The cryptocurrency market experienced another bullish rally after a short-term price decline. Ethereum was no exception as the price surged, forming a new swing high and currently facing a significant resistance region. Technical Analysis By Shayan The Daily Chart After a short-term decline toward the broken triangle pattern and the 200-day moving average, Ethereum found support and initiated a bullish rally, completing the pullback to the broken level. After printing three...

When the financial woes of FTX also lead to the exchange’s bankruptcy, the deal could not proceed, pitching Binance.US as the next major favorite to bail out the company. Judge Michael Wiles, the presiding Judge over the Binance.US and Voyager Digital acquisition case with the United States Securities and Exchange Commission (SEC) has reaffirmed his order for the deal to proceed. The Judge canceled the petition from the SEC to halt the proposed sale of the bankrupt crypto brokerage...

Cathie Wood praised crypto assets for proving to be safe havens as crisis unfolded in the US banking system last week. Ark Investment‘s Cathie Wood is known for making some of the bold bets in crypto. Even during the strong downfall of 2022, Cathie Wood has been a regular investor in crypto companies like Coinbase. In another such development, ARK Investment Management LLC managed to raise a staggering $16 million from investors for a new crypto-focused investments fund. On Wednesday,...

As of the end of Q3, Virgin Orbit has $71.2 million in cash and $30.9 million in revenue. Shares of aircraft engineering company Virgin Orbit Holdings Inc (NASDAQ: VORB) dropped by 33% in extended trading as the company is discharging nearly all its workers. According to people familiar with the matter that spoke to CNBC, the company is additionally suspending operations for a week as it seeks a funding lifeline. Currently, at premarket trading, Virgin Orbit has declined further, with its...