Tag Archives: Bitcoin

Bitcoin Drops $2K as China Declares Cryptocurrency-Related Business Illegal

Bitcoin Drops $2K as China Declares Cryptocurrency-Related Business Illegal

Bitcoin erased Thursday’s 3% gain as PBOC stepped up its crackdown on crypto China strengthened its anti-crypto stance on Friday, torpedoing bitcoin’s two-day winning run. The People’s Bank of China (PBOC) said bitcoin, ether, and stablecoin tether do not qualify as legal tender and cannot be used in the currency market. The central bank declared all virtual […]

Cambrian Says Its New Bitcoin, Ethereum Trusts Will Cut Through Volatility

Cambrian Says Its New Bitcoin, Ethereum Trusts Will Cut Through Volatility

The California-based asset manager said the new trusts will reduce volatility through its active management strategy. Quantitative crypto hedge fund Cambrian Asset Management said its two new actively managed trusts, one trading bitcoin and one trading ethereum, will manage downside risk. The $200 million fund said in a press release on Wednesday that its management strategy will “manage […]

Bitcoin in Pullback Mode, Support at $40K-$42K

Bitcoin in Pullback Mode, Support at $40K-$42K

Initial support is seen at $40K-$42K, which could stabilize the pullback. Bitcoin (BTC) sellers were active over the weekend as the cryptocurrency’s price dipped below the 200-day moving average at $45,000. Initial support is seen in the $40,000-$42,000 range where a breakout occurred on Aug. 6. The $50,000 resistance level was tested several times over […]

Interactive Brokers rolls out crypto trading with Paxos

Interactive Brokers rolls out crypto trading with Paxos

Global electronic brokerage firm Interactive Brokers Group is teaming up with Paxos to enable crypto trading. Interactive Brokers’ clients can now trade and custody Bitcoin, Ethereum, Litecoin and Bitcoin Cash through Paxos. The assets will be accessible alongside traditional assets through a single interface. For now, the services are only available to U.S. residents with […]

Scaramucci’s SkyBridge accelerates its move into crypto with a blockchain partnership

Scaramucci’s SkyBridge accelerates its move into crypto with a blockchain partnership

SkyBridge Capital’s Anthony Scaramucci is stepping up his firm’s move into the cryptocurrency world, announcing on Monday a partnership aimed at expanding into the blockchain universe. The hedge fund is joining with trading platform NAX in a series of fundraising efforts, the first of which will seek to bring in up to $250 million. Using […]

CIO of $9.5 Trillion AUM Asset Manager BlackRock Says They Own Some Bitcoin

CIO of $9.5 Trillion AUM Asset Manager BlackRock Says They Own Some Bitcoin

Earlier today (September 9), Rick Rieder, a Managing Director at BlackRock, the world’s largest asset manager, explained during an interview why his firm owns some Bitcoin. BlackRock, which was founded in 1988, started with just eight people working in one room. It made its Initial Public Offering on the New York Stock Exchange on 1 October 1999 at […]

Bitcoin Now Legal Tender in El Salvador, Marking World First

Bitcoin Now Legal Tender in El Salvador, Marking World First

In a show of support, crypto proponents are buying $30 worth of bitcoin to commemorate the occasion known colloquially as “Bitcoin Day.” Bitcoin is now officially legal tender in El Salvador, three months after the Bitcoin Law passed the country’s legislature. While the move marks a world-first, El Salvador’s President Nayib Bukele said in a tweet the […]

Mutual Fund Giant Franklin Templeton Eyes Bitcoin, Ether Trades With Planned Hires

Mutual Fund Giant Franklin Templeton Eyes Bitcoin, Ether Trades With Planned Hires

The $1.5 trillion asset manager is a newcomer to crypto investing despite years of experimenting with blockchain tech. Asset manager Franklin Templeton is staffing up to execute trades for bitcoin and ether, according to a series of job postings. At least two crypto-focused jobs posted this week – one trader, one researcher – would join the “growing” investments […]

Morgan Stanley Loads Up on $240 Million in Grayscale Bitcoin Shares

Morgan Stanley Loads Up on $240 Million in Grayscale Bitcoin Shares

Morgan Stanley’s recent purchases would make the investment bank the second-largest holder of Grayscale Bitcoin Trust (GBTC). In brief Morgan Stanley is one of the largest investment banks in the U.S. It’s increased its GBTC investments by a considerable sum. Many Bitcoin users hold themselves in opposition to big banks. One of the biggest, Morgan […]

Bitcoin Eyes 200-Day Moving Average Support as $2B Options Expiration Nears

Bitcoin Eyes 200-Day Moving Average Support as $2B Options Expiration Nears

The max pain price for Friday’s bitcoin options expiry is $44,000. Bitcoin is again experiencing moderate price turbulence heading into the monthly options expiration. The cryptocurrency is trading at about $47,000 at press time, representing a 4.4% drop on the day, CoinDesk 20 data show. The decline has reversed Wednesday’s 2.7% gain and exposed bitcoin to […]