Markets

Peter Thiel has been a long-time Bitcoin backer. But his fund closing almost all its crypto positions shortly before the market went downhill did not sit well with many. According to Fortune’s latest report, Thiel’s VC firm – Founders Fund – cashed out all of its bets on cryptocurrencies and made $1.8 billion in profit while doing so. The San Francisco-based fund bought Bitcoin over eight years ago when the flagship crypto was trading under $1,000. Over the next few years, it...

ConsenSys – a blockchain software technology company – and Amber Group – a cryptocurrency platform based in Singapore – are the latest entities in the digital asset sector to announce staff layoffs.  The former will trim its team by approximately 11%, while the latter reportedly plans to reduce its Hong Kong division by 50%. Adjusting to ‘Uncertain Market Conditions’ Joseph Lubin – CEO of ConsenSys – said his organization made the “extremely difficult decision” to lay off 96...

Bitcoin’s weekly surge beyond $20,000 doesn’t necessarily mean the bull market is back, according to BitMEX co-founder Arthur Hayes’ latest analysis.  The former CEO recently detailed some possible scenarios that will trigger Bitcoin’s next big move – which mostly boils down to how the Federal Reserve behaves in the near term.  Analyzing the Bitcoin Bounce In a medium post titled “Bouncy Castle” published on Thursday, Hayes began by positing two theories about what is...

With Bitcoin’s recent price rally, many assume that the bear market is over. But is it too early to call bottoms? Technical Analysis By: Edris The Daily Chart: On the daily timeframe, the price has been rallying over the past couple of weeks, breaking above multiple static resistance levels and the significant 200-day moving average. The large falling wedge pattern has also been broken to the upside, which is usually considered a bullish reversal signal. From a classical...

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Popular digital currency exchange Kraken has announced it is closing its Japan branch this month and laying off all its employees in the Land of the Rising Sun. Kraken Is Stepping Away from Japan The Japanese division of Kraken is called Payward Asia. In a recent blog post, the company mentioned that it’s going to be ceasing all its crypto trading services as of January 31, 2023. This will mark the second time Kraken has left the Japanese market, the first taking place...

After the excessive turmoil in the crypto market triggered by the FTX liquidity and bankruptcy scandal, several crypto service providers began publishing their reserve funds. Popular crypto exchange OKX released its third Proof-of-Reserves (PoR), in which it revealed holding “clean assets” worth $7.5 billion in BTC, ETH, and USDT. In a statement, OKX’s Chief Marketing Officer Haider Rafique said, “Security, transparency, and trust are core tenets of the OKX business process...

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Out Now - CV VC Top 50 Report 2022 The CV Lab Switzerland is proud to announce the publication of our CV VC Top 50 Report 2022, published in collaboration with Bank Frick. It’s no secret that 2022 was a tough year for the global blockchain ecosystem. Our key data numerically illustrates how some consequences were felt in Crypto Valley. However, the data also highlights that Crypto Valley is steady, mature & balanced. Blockchain...