Tag Archives: crypto

Bitcoin Crowd Appears High on ‘Hopium’ as ‘Buy The Dip’ Trends

Bitcoin Crowd Appears High on ‘Hopium’ as ‘Buy The Dip’ Trends

Pullbacks typically end with crowd chatter leaning bearish. As bitcoin nurses a weekly drop of 9%, the cryptocurrency’s social metrics indicate the retail crowd is high on hopium – a crypto slang for hopes of a quick recovery and a continued bull run. However, past data shows pullbacks or downtrends typically end when social chatter […]

Thailand’s Oldest Bank Acquires Majority Stake in Country’s Largest Crypto Exchange

Thailand’s Oldest Bank Acquires Majority Stake in Country’s Largest Crypto Exchange

SCB paid $536.6 million for a 51% stake in Bitkub. Siam Commercial Bank (SCB) has acquired a 51% stake in Thai cryptocurrency exchange Bitkub. Thailand’s oldest bank SCB paid 17.85 billion baht ($536.6 million) for the majority stake in the exchange, according to an announcement Tuesday. The transaction is expected to be completed by the first quarter […]

Binance Temporarily Disables All Crypto Withdrawals, Cites Backlog

Binance Temporarily Disables All Crypto Withdrawals, Cites Backlog

Withdrawals resumed about 25 minutes after the stoppage was announced, before being disabled and then resumed again. Binance, the world’s largest crypto exchange, temporarily disabled all crypto withdrawals for a time on Monday due to a large backlog. Withdrawals were resumed about 25 minutes after the stoppage was announced to customers on its Twitter account Monday. Twenty […]

SHIB Flippened DOGE With $160M in ‘Smart Money’ Backing Latest Pump, Blockchain Data Shows

SHIB Flippened DOGE With $160M in ‘Smart Money’ Backing Latest Pump, Blockchain Data Shows

A new force is behind shiba inu’s most recent price surge. Shiba inu, the self-proclaimed dogecoin killer, briefly surpassed DOGE in market value on Wednesday, according to data from CoinGecko. Both coins now have a market cap of over $31 billion and are toggling between 10th and 11th on CoinGecko’s rankings page. Blockchain data shows that while […]

Citi Starts Coverage of Coinbase With $415 Price Target, Says ‘Buy Crypto’s General Store’

Citi Starts Coverage of Coinbase With $415 Price Target, Says ‘Buy Crypto’s General Store’

The bank’s Coinbase target is 27% higher than Monday’s closing price. Citi initiated coverage of Coinbase (NASDAQ: COIN) Tuesday with a buy rating and $415 price target, saying the crypto exchange “offers investors direct exposure to increased retail and institutional adoption” of digital assets.. “For its position within the crypto value chain, a `networking-based’ business […]

Mastercard Is Integrating Crypto Payments Through a New Partnership With Bakkt

Mastercard Is Integrating Crypto Payments Through a New Partnership With Bakkt

The tie-up will allow merchants and banks to build cryptocurrency into their offerings. Mastercard and digital asset platform Bakkt are partnering to allow merchants and banks to build cryptocurrency into their offerings, the companies announced Monday. The two plan to also shake up the way consumers can collect loyalty rewards. Mastercard said in a statement that consumers […]

Investing giant Pimco is considering trading cryptocurrencies

Investing giant Pimco is considering trading cryptocurrencies

Pimco, a $2 trillion investment firm, could potentially begin trading spot cryptocurrencies, the firm’s chief investment officer Daniel Ivascyn confirmed to CNBC. The firm, which has engaged with the market via crypto-linked securities, is now looking at “trading certain cryptocurrencies as part of our trend-following strategies or quant-oriented strategies, then doing more work on the fundamental […]

ProShares Bitcoin Futures ETF to Start NYSE Trading on Tuesday

ProShares Bitcoin Futures ETF to Start NYSE Trading on Tuesday

The SEC gave the go-ahead for bitcoin futures ETFs at the end of last week. ProShares will launch a bitcoin futures exchange-traded fund (ETF) tomorrow, the company confirmed in an SEC filing on Monday. CoinDesk first reported on Friday that the ETF was scheduled to launch this week. The U.S. Securities and Exchange Commission (SEC) greenlighted bitcoin futures ETFs […]

US FDIC Said to Be Studying Deposit Insurance for Stablecoins

US FDIC Said to Be Studying Deposit Insurance for Stablecoins

So-called pass-through coverage would insure the holders of these tokens against losses up to $250,000 if the bank holding the collateral were to fail. The Federal Deposit Insurance Corp. (FDIC), a key U.S. banking regulator, is studying whether certain stablecoins might be eligible for its coverage, five people familiar with the agency’s thinking said. The discussions are […]