Bitcoin Leads Price Sell-Off Across Crypto Markets as Biden Tax Plan Bites

Bitcoin Leads Price Sell-Off Across Crypto Markets as Biden Tax Plan Bites

Bitcoin falls as Biden’s plan to raise capital gains tax hurts risk appetite. Bitcoin slipped on Friday as reports of U.S. President Joe Biden mulling a tax hike on wealthy Americans drew stronger selling pressure in the spot market. The biggest cryptocurrency traded well below the 100-day simple moving average support of $49,470 during the […]

Bitcoin Consolidates Below $56K Resistance as Buyers Lose Strength

Bitcoin Consolidates Below $56K Resistance as Buyers Lose Strength

BTC has remained in a consolidation phase since February. Bitcoin (BTC) is holding short-term support and was trading around $54,000 at press time. The cryptocurrency is now below the 50-day moving average as upside momentum continues to slow. Buyers will need to defend support around $51,000 to stabilize the long-term uptrend. The relative strength index […]

US House Passes Bill to Require Financial Regulators to Set Up Digital Assets Working Group

US House Passes Bill to Require Financial Regulators to Set Up Digital Assets Working Group

The Eliminate Barriers to Innovation Act of 2021 seeks to establish a digital asset working group with representatives from the SEC and CFTC. The U.S. House of Representatives has passed several pieces of bipartisan legislation including a section on digital assets, according to a press release from the House Financial Services Committee on Tuesday. Known as the […]

Mike Novogratz’s Galaxy Digital Said to Be in Talks to Buy Crypto Custodian BitGo

Mike Novogratz’s Galaxy Digital Said to Be in Talks to Buy Crypto Custodian BitGo

A deal between the asset manager and the crypto custodian is close to being finalized, sources tell CoinDesk. Galaxy Digital, the cryptocurrency-focused financial services firm run by Michael Novogratz, is in advanced discussions to buy BitGo, the U.S.-regulated crypto custody specialist, according to four people familiar with the situation. Both Galaxy and BitGo declined to […]

Crypto Long & Short: Coinbase Going Public Isn’t Selling Out – It’s the Start of a Long Game

Crypto Long & Short: Coinbase Going Public Isn’t Selling Out – It’s the Start of a Long Game

With its Nasdaq listing, the exchange will provide on-ramps for many investors. But it’s also changing the system from within. After a dramatic week in which the crypto industry’s eyes were on Coinbase’s Nasdaq debut, it’s time to step back and reflect. Plenty of pixels and airtime have already been beamed. Plenty of analysis has been […]

Coinbase Misses Out on Dogecoin Listing as Meme Token Rallies 6,000%+ on Binance

Coinbase Misses Out on Dogecoin Listing as Meme Token Rallies 6,000%+ on Binance

Coinbase is known for its expensive trading fees yet it’s still not listing doge, one of the most traded tokens. Coinbase, the U.S.-based cryptocurrency exchange that went public this week with a direct listing of its shares on Nasdaq, is missing out on the latest frenzy whipping up gasps and chortles in digital asset markets: […]

Anyone Expecting Coinbase to Start Trading at Market Open May Be Disappointed

Anyone Expecting Coinbase to Start Trading at Market Open May Be Disappointed

Historical experience shows that it might take until after noon ET for market makers to work out the price of the initial trade in a direct stock listing. While the cryptocurrency exchange Coinbase’s new shares technically could start trading with the overall U.S. equities market at 9:30 a.m. ET, don’t hold your breath: A very […]

Bitcoin, Ether Hit New All-Time Highs on Eve of Coinbase Listing

Bitcoin, Ether Hit New All-Time Highs on Eve of Coinbase Listing

Bitcoin and ether (ETH, +6.17%), the two biggest cryptocurrencies, surged to new all-time high prices on Tuesday, the day before the highly anticipated Coinbase listing on Nasdaq. Prices for bitcoin (BTC, +4.35%) (BTC), the oldest cryptocurrency and the largest by market value, rose 6% on the day, reaching as high as $63,661 around 15:40 coordinated universal time (11:40 a.m. ET), […]

Crypto Long & Short: Peter Thiel Defines Bitcoin’s Accidental Role in Global Politics

Crypto Long & Short: Peter Thiel Defines Bitcoin’s Accidental Role in Global Politics

Thiel’s comments about China “weaponizing” bitcoin to hurt the U.S. are a warning about the cost of inaction. The battle over bitcoin’s evolving role just became a piece in a complex game of political strategy. Peter Thiel’s talk earlier this week at a Richard Nixon Foundation event thrust the cryptocurrency even further out onto the geopolitical stage […]

Riding Bitcoin Surge, Coinbase Active Users Grew by 117% in Q1 2021; Revenue Tops $1.8B

Riding Bitcoin Surge, Coinbase Active Users Grew by 117% in Q1 2021; Revenue Tops $1.8B

Cryptocurrency exchange Coinbase saw a whopping 117% quarter-over-quarter increase in monthly transacting users, the firm revealed Tuesday in its voluntary earnings report. All those users helped Coinbase rake in $1.8 billion over the quarter, driving a net income of approximately $730 million to $800 million, according to a new filing that comes ahead of the company’s Nasdaq listing next week. […]