Tag Archives: cryptocurrency

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. […]

Bitcoin Options Traders Position for Gains (to $80K?) in Historically Bullish April

Bitcoin Options Traders Position for Gains (to $80K?) in Historically Bullish April

Theoretically, the $80,000 call represents a bet that bitcoin would settle above that level on April 30. Some bitcoin options traders are betting this year’s price rally, which paused in recent weeks, will resume in April – historically a strong month for the market. Among options listed on the dominant Deribit exchange with an April […]

Bitcoin Rises Despite Dollar Strength as Elon Musk Adds BTC Payment Option

Bitcoin Rises Despite Dollar Strength as Elon Musk Adds BTC Payment Option

Tesla accepting bitcoin payments and running its own nodes is “massively bullish,” according to one analyst. Bitcoin (BTC) jumped early Wednesday after the Tesla CEO Elon Musk said the electric vehicle maker is now accepting the cryptocurrency as a payment option. Musk’s Twitter announcement overshadowed the dollar’s strength, helping the cryptocurrency stay bid. “You can now […]

Bitcoin Drops 3% Ahead of Fed Meeting, Despite Bullish Chart Pattern

Bitcoin Drops 3% Ahead of Fed Meeting, Despite Bullish Chart Pattern

Bitcoin is falling, as caution ahead of the FOMC rate decision overshadows bullish chart pattern. Bitcoin is nursing losses ahead of a crucial Federal Reserve policy meeting that could reveal the U.S. central bank’s plans in the wake of rising inflation expectations. The top cryptocurrency, which is seen by many investors as a hedge against rising prices, […]

Digital Currency Group to Put up to $250M Into Grayscale’s Bitcoin Trust

Digital Currency Group to Put up to $250M Into Grayscale’s Bitcoin Trust

The blockchain investment firm said it will buy the GBTC shares on the open market. Cryptocurrency and blockchain-focused investment firm Digital Currency Group (DCG) is to put as much as $250 million into shares of the Grayscale Bitcoin Trust (OTCQX: GBTC), its subsidiary’s flagship product. In an announcement Wednesday, DCG – which is also the parent company […]

JPMorgan Says Investors Could Make Bitcoin 1% of Portfolios

JPMorgan Says Investors Could Make Bitcoin 1% of Portfolios

JPMorgan Chase & Co. is the latest Wall Street firm floating the idea of investors using Bitcoin as a way to diversify their portfolios. Strategists have recently touted cryptocurrency as a way to hedge against significant fluctuations in traditional asset classes such as stocks, bonds and commodities. Rather than making any big bets on Bitcoin, they’ve […]

Tether Deal With New York State Brings Quick Reversal of Crypto-Market Sell-Off

Tether Deal With New York State Brings Quick Reversal of Crypto-Market Sell-Off

The settlement over tether with the New York attorney general’s office appears to remove what might have been a systemic threat to cryptocurrency markets. Bitcoin and other cryptocurrencies recovered partially from their biggest sell-off in a month after the New York state attorney general’s office announced a settlement of a dispute involving the stablecoin tether (USDT) that […]

A Sudden Loss of Faith in Tether Would Pose Risk to Bitcoin, JPMorgan Says

A Sudden Loss of Faith in Tether Would Pose Risk to Bitcoin, JPMorgan Says

“If any issues arise that could affect the willingness or ability of both domestic and foreign investors to use USDT, the most likely result would be a severe liquidity shock to the broader cryptocurrency market,” the report says. According to analysts at JPMorgan, the bitcoin market could face severe liquidity shock if traders were to […]

Coinbase, Readying for Public Listing, Gets $77B Valuation From Nasdaq Private Market

Coinbase, Readying for Public Listing, Gets $77B Valuation From Nasdaq Private Market

Cryptocurrency exchange Coinbase, which is preparing to trade publicly in the next few months, is being valued at $77 billion, based on trading of the company’s privately held shares on a secondary market. Those shares in the largest crypto exchange in the U.S. are changing hands on the Nasdaq Private Market at $303 a piece, […]