Tag Archives: social

Coinbase, the largest U.S. crypto exchange, has released its Q1 2024 earnings report, posting a total revenue of $1.6 billion, a 72% increase quarter on quarter. The performance has been driven by the rising crypto asset prices and the launch of spot Bitcoin ETFs in the U.S. which further improved inflows into the market. Coinbase Earnings Surged in Q1 Coinbase’s net income reached $1.18 billion, $4.40 per share, translating to $1 billion in adjusted EBITDA in Q1....

Financial technology conglomerate Block, owned by X co-founder Jack Dorsey, has decided to invest 10% of all profits made from bitcoin-related products in monthly BTC purchases. Speaking to shareholders in a Q1 2024 earnings report, Dorsey outlined several reasons for the decision, addressing investors’ concerns about why Block is so focused on the largest cryptocurrency. Block to Invest in Bitcoin Monthly Dorsey explained that bitcoin is the best and only candidate for a...

CryptoQuant analysts have found that Bitcoin miners have increased their selling activity in the last month amid slow demand growth for BTC. According to the latest CryptoQuant weekly report, the decrease in BTC demand is evident in low Bitcoin whale demand, fewer purchases from spot exchange-traded funds in the United States, and the Coinbase premium falling below zero. Miners Increase Selling Activity Miners have sent a large amount of BTC to spot exchanges, creating an...

Bitcoin’s recent market correction that dragged the world’s largest cryptocurrency near the low of $56,500 turned out to be a good opportunity for high-profile investors. Data shared by CryptoQuant CEO Ki Young Ju revealed that whales have accumulated a whopping 47,000 BTC – worth more than $2.8 billion in current price – over the past 24 hours alone. This shopping spree signals the beginning of “a new era” for the primary cryptocurrency, according to the exec. Bitcoin whales...

Former FTX Digital Markets co-chief executive Ryan Salame has agreed to transfer his multimillion-dollar property in the Bamas as part of a plea agreement in his case. The move comes after Salame pleaded guilty to criminal charges in September 2023, and his plea agreement required him to pay $5.6 million in restitution to the debtors. The Property Transfer According to a motion filed by FTX Trading Ltd and affiliated debtors with the United States Bankruptcy Court for the...

On April 29, Dutch law enforcement arrested a man believed to be connected to the fraudulent activities associated with the ZKasino internet gambling platform. During the operation, authorities confiscated assets valued at approximately 11.4 million euros ($12.2 million), including cryptocurrency, real estate, and luxury vehicles. Dutch Authorities Seize Millions in Assets According to a Fiscal Information and Investigation Service (FIOD) report, the 26-year-old man was...

Experts now suggest that bitcoin may have reached a local bottom and will gradually recover over the coming months. BitMEX founder Arthur Hayes, for one, noted that the leading cryptocurrency might see a surge in value if, as he predicts, liquidity increases in the economy next week due to Janet Yellen’s policies. Bitcoin May Have Hit a Local Bottom In his latest blog post, Hayes said bitcoin’s latest slump has “played out” as he anticipated, attributing it to various factors...

Dormant tokens in the XRP Ledger have begun to stir, setting the stage for May’s market activity. New data suggest the blockchain is seeing another “huge blast” in dormant XRP movement, alongside increasing open interest (AI). Surge in Old XRP Coin Movement According to Santiment’s Token Age Consumed metric, there has been a significant surge in the movement of old XRP coins on the ledger, similar to the spike observed just before the market downturn on April 13th, during...

Aave Labs, the team behind the DeFi lending platform Aave, has proposed a slew of major upgrades and expansions two years after introducing its V3. The suggested improvements include Aave V4, Aave Network, a Cross-Chain Liquidity Layer, non-EVM L1 deployments, and a fresh visual identity. Aave V4 According to the latest blog post, Aave V4 will be built with a brand-new architecture featuring an efficient and modular design while aiming to minimize disruptions to third-party...

The largest American cryptocurrency exchange, Coinbase, has added support for the Lightning Network on its platform to enable faster and cheaper payments. According to a blog post, the Lightning Network integration on Coinbase will reduce the cost of sending bitcoin (BTC) globally by 20x compared to the 2% charged on United States credit card transactions and the $30 paid for wire transfers. Coinbase Integrates Lightning Network Coinbase’s Lightning Network integration was...