Markets

Coinbase acquired One River Digital Asset Management (an investment manager that provides institutional clients with exposure to cryptocurrencies) without disclosing the terms and the sum of the agreement. The deal comes a few weeks after the two entities rolled out a separately managed account (SMA) platform for wealth management firms. Greg Tusar – Coinbase’s head of institutional product – said the recent acquisition aims to “bring more institutional capital” into the...

The Colorado-based bitcoin miner – Riot Blockchain – reported a total revenue of nearly $260 million for 2022, a 22% increase compared to 2021. It mined 5,554 BTC and boosted its hash rate capacity to an all-time high of 9.7 EH/s. The positive results come in spite of the devastating bear market that reigned during the bigger part of the year, and Riot’s shrunk production levels in the summer due to a heat wave.  Against All Odds Riot produced 46% more bitcoin in 2022 than in...

The London-based fintech company that allows cryptocurrency trading – Revolut – saw a 33% spike in its revenue in 2022, said the firm’s CFO.  Its positive results come in spite of the crypto market decline last year and the overall unfavorable macroeconomic conditions. A ‘Strong Momentum’ Mikko Salovaara – Revolut’s CFO – revealed to Reuters that the company’s revenue surged to $1.03 billion in 2022.  He said the number of new subscriptions and business accounts has risen...

Bitcoin’s massive crash on Friday drove it south to just under $22,000 to mark its lowest price tag since February 14. The altcoins experienced similar enhanced volatility, but most have calmed since then. Ripple’s XRP and EOS are among the few alts with notable gains. Bitcoin Slipped Below $22K Despite the rising volatility at the end of February, bitcoin managed to close the month with a slight increase and stood at around $23,000. The first few days of March saw a price...

BitMEX co-founder Arthur Hayes published an essay on Thursday outlining “realistic potential situations” that could make oil prices boom, and make Bitcoin’s price skyrocket as a result.  The former CEO argued that such a scenario could spur central banks across the world – including the Federal Reserve – to return to a market-friendly loose monetary policy. Oil and the Money Printer In his blog post titled “Curve Ball,” Hayes described three possible futures that could lead...

This week was a complete rollercoaster in terms of price action as the majority of cryptocurrencies found themselves stuck in a chopping range before the ultimate leg down. Bitcoin was trading at around $23,300 this time last week, and a couple of days later, it attempted the first push toward $24K. it was unsuccessful, and at around the end of the week, BTC found itself below $23K. However, this dip was immediately bought up, and the price tapped $24K on Wednesday. The bulls...

Ripple’s price has been declining over the last few weeks, with two significant moving average lines broken to the downside. The price could drop deeper in the coming days, as things are not looking good from a technical analysis aspect. Technical Analysis By: Edris XRP/USDT Daily Chart Looking at the USDT chart, the price has been rejected from the significant $0.43 area and has broken both the 50-day and 200-day moving average lines to the downside, which are both located...

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U.S. Bankruptcy Judge Michael Wiles made the comments at a court hearing in New York on March 2. The Voyager Digital restructuring plan would involve the sale of just over $1 billion worth of its assets to Binance.US. However, the SEC has opposed the deal claiming that it violates securities laws. When questioned about the reasoning behind the opposition, SEC attorney William Uptegrove failed to provide a definite answer, according to Reuters. In its typical vague approach,...