Author: NBTC
On 13 June 2024, ARK Invest CEO and CIO Cathie Wood joined CNBC’s “Squawk Box” to discuss the future of Tesla Inc. (NASDAQ: TSLA) and her firm’s five-year price target for the stock. Cathie Wood began by addressing the recent Tesla shareholder vote, which included a critical decision on Elon Musk’s pay package and moving Tesla’s legal home from Delaware to Texas. Wood expressed her surprise and pleasure at the large institutional shareholders supporting Musk. This vote, she noted, was initially driven by ESG considerations, prompting these institutional players to reconsider their voting strategies. Despite anticipating some legal battles ahead,…
President Joe Biden’s renomination of Caroline Crenshaw for a second term as a U.S. Securities and Exchange Commissioner has sparked mixed reactions from the cryptocurrency community, with some fearing a continuation of the SEC’s stringent regulatory approach towards digital assets. The news shared on X platform by Fox Business journalist Eleanor Terrett has quickly drawn reactions from the cryptocurrency community. MetaLawMan, a prominent figure in the crypto space, posted a critical response to the announcement. Referring to Crenshaw as a “soldier in good standing in the anti-crypto army,” MetaLawMan expressed skepticism about the SEC’s stance on cryptocurrency regulation. The tweet…
The cryptocurrency market, particularly Bitcoin, is once again at the center of attention as it nudges towards unprecedented price levels. Glassnode, a leading analytics platform, has recently shed light on this phenomenon, describing the current market condition as entering a “Euphoria phase.” This stage is marked by a significant portion of Bitcoin’s supply being held in profit, reflecting heightened market optimism and investor confidence. As Bitcoin teeters on the brink of breaking its previous all-time high of $73,000 set in March, the dynamics within the market suggest a cautious optimism. According to Glassnode’s latest insights, approximately 93.4% of Bitcoin’s total…
A significant uptick in trading activity for certain short-dated GameStop options contracts on Wednesday has led market analysts to speculate that famed trader Keith Gill, also known as the influencer Roaring Kitty, might have offloaded part of his recently disclosed options position in the company. GameStop’s (GME) stock price rose 7% on Thursday reaching $27.15 a share in morning trading. Gill, instrumental in the 2021 meme stock surge, recently posted a screenshot on Reddit on June 2 revealing his extensive GameStop stock and options holdings. According to the screenshot, he held 120,000 GameStop June 21 call options at a strike…
The self-proclaimed leading Bitcoin (BTC) second-layer network has experienced issues with its block production, halting for the fourth time year-to-date. Stacks (STX) is a blockchain that connects to the Bitcoin blockchain and can leverage transaction throughput, staking, and smart contracts. On June 14, Colin Wu reported a block interruption for Stacks that lasted more than nine hours. As reported, the network stopped producing blocks at block height 153917, an issue that happened before, multiple times this year. Stacks network issues: ‘Block behavior’ Previously, the Stacks network presented similar issues, which the Stacks Status account on X calls “block behavior.” In…
Billionaire entrepreneur Mark Cuban has openly criticized Gary Gensler, the Chairman of the US Securities and Exchange Commission (SEC), suggesting his actions could jeopardize President Joe Biden’s chances in the upcoming election. Speaking at Coinbase’s State of Crypto Summit 2024, Cuban highlighted the potential political fallout from the SEC’s stance on crypto, which he believes could alienate young voters who own crypto. Cuban’s comments were first reported by FOX Business journalist Eleanor Terrett. 🚨NEW: @mcuban says @GaryGensler could “literally cost @JoeBiden the election” because of all the young voters that own crypto. “If he has a political career in mind,…
Data shows that the Bitcoin Realized Volatility metric has fallen to historically low levels. What generally happens after this pattern forms? Bitcoin Realized Volatility Has Decline To Extreme Lows Recently In a post on X, CryptoQuant author Axel Adler Jr has discussed about the latest trend taking place in the Realized Volatility of Bitcoin. The Realized Volatility here refers to an indicator that basically tells us about how volatile a given asset has been based on its price returns within a specified window. When the value of this metric is high, it means that the asset in question has experienced…
Key Points: Paradigm raised a $850M fund for crypto projects. The firm anticipates new consumer applications in crypto. Paradigm third fund raised $850M to support early-stage crypto projects, reinforcing its influence in the crypto space. Paradigm recently announced the raise of their third fund which reaches 850M. The fund is to be used to support early-stage crypto projects. That said, with great money comes great influence, it duly cements Paradigm’s reputation, along with a16z, as one of the most celebrated VCs in the space. Paradigm Third Fund Hits $850 Million When we founded Paradigm in 2018, we believed that crypto…
According to a recent report by Forbes, Binance CEO Changpeng Zhao personally owns 94 million BNB tokens (or roughly 64% of the exchange’s total supply). Based on the forensic analysis of the wallets conducted by Forbes, CZ controls more than half of the 80 million tokens that he and Binance’s founding team received after the exchange’s creation. During Binance’s initial coin offering (ICO), which took place in 2017, 100 million BNB tokens were allocated for the crowd sale. However, Forbes has now revealed that the ICO was undersubscribed, meaning that demand failed to meet the available supply. According to its…
The intersection of cryptocurrency and US politics is becoming increasingly apparent. Coinbase CEO Brian Armstrong emphasized a bipartisan approach during a panel with Ark Invest CEO Cathie Wood, as former President Donald Trump declared himself the “head of crypto” and met with leading Bitcoin mining executives. Coinbase CEO Brian Armstrong Defends Bipartisanship After Trump’s Crypto Support During the panel, Wood cited Trump’s recent pro-crypto statements and interactions, noting the former president’s divisive reputation. However, he acknowledged that Trump’s support raises awareness about the crypto movement and highlights its bipartisan potential. Without directly mentioning Trump, Armstrong emphasized the importance of addressing…