Markets

Despite the FTX meltdown and the consecutive decline of the cryptocurrency market, the Founder and CEO of Ark Invest – Cathie Wood – stands by her prediction that bitcoin will skyrocket to $1 million by 2030. She also seems unfazed by the price crash of Grayscale’s Bitcoin Trust (GBTC) since her company purchased additional 176,945 shares. BTC Bull Regardless of the Reality The shocking collapse of the crypto exchange FTX deepened the problems in the crypto sector and...

The government of El Salvador presented a bill that could set comprehensive rules on the local crypto sector and regulate the operations of all digital asset providers in the country. The ruling body is also one step closer to issuing blockchain bonds that could aid the development of certain BTC endeavors in the Central American nation. The bear market has not changed the pro-bitcoin stance of President Nayib Bukele. He disclosed last week that El Salvador will purchase one...

The collapse of crypto exchange FTX appears to have sparked surging sales for self-custodial crypto wallets which give users direct ownership of their coins.  SafePal, a Binance-backed crypto wallet brand, has experienced a 10x surge in traffic to its platform since November 11th, and its hardware wallet has made record sales within that time.  SafePal surpassed over 7 million users over the past 6 months, with pronounced gains in November. In a statement shared with...

[PRESS RELEASE – Please Read Disclaimer] The Orbeon Protocol will enable ordinary people to invest in startups while providing much-needed community and funding to new firms. Orbeon Protocol will connect investors and firms while providing a secure investment platform. Multiple analysts expect Orbeon Protocol to rise by 6000% during the first part of its presale. The Problem With the Current Venture Capital Space Crowdfunding and crowdsourcing are rapidly growing industries,...

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Solana price gained bearish momentum below the $20.00 level against the US Dollar. The price is now trading below $20 and the 55 simple moving average (4-hours). There was a break above a short-term bearish trend line with resistance near $12.00 on the 4-hours chart of the SOL/USD pair (data feed from Coinbase). The pair could recover, but upsides might be limited above the $15 resistance. Solana price is trading below $15 against the US Dollar, similar to bitcoin. SOL...

Bitcoin price started a fresh decline below the $18,000 zone against the US Dollar. The price is now trading near $16,450 and the 55 simple moving average (4-hours). There is a key bearish trend line forming with resistance near $16,500 on the 4-hours chart of the BTC/USD pair (data feed from Coinbase). The pair could recover, but upsides might be limited above the $17,450 resistance zone. Bitcoin price is struggling below $17,000 against the US Dollar. BTC might extend...

Digital Currency Group (DCG) CEO Barry Silbert recently shared a letter with investors illuminating the cryptocurrency conglomerate’s web of external and intercompany loans.  Among them is a newly disclosed liability of $575 million to its lending subsidiary Genesis, due by May of 2023.  What’s Going On With DCG? As reported by the Wall Street Journal on Tuesday, Silbert’s letter sought to assure investors that the company was still secure amid the chaotic crypto bear market...

Coinbase CEO Brian Armstrong quelled concerns about the state of his company’s Bitcoin holdings on Tuesday, following doubtful suggestions from rival exchange owner Changpeng Zhao (CZ).  Binance’s CEO has since deleted his tweet, promising to “work together to improve transparency in the industry.” What Did CZ Say? CZ’s now-removed post called attention to two separate claims about the exact number of Bitcoin held by Coinbase.  The first was a statement from Coinbase Custody...

The first twelve days of November were perhaps the darkest for 30-year-old Sam Bankman-Fried (SBF), as he not only lost his crypto empire but went from being a Bitcoin billionaire and crypto’s white knight to filing for bankruptcy and owing customers at least $3 billion. The next eight days revealed that SBF’s once-powerful crypto exchange FTX was not what everyone believed it to be. Here’s the timeline of the events that led to the fall of FTX in the last 20 days. The...