Author: NBTC
One of the largest pension funds in the United States disclosed on Tuesday a $162 million allocation to the nation’s leading Bitcoin spot ETF products launched earlier this year. Per a 13F filing with the Securities and Exchange Commission (SEC), the State of Wisconsin Investment Board (SWIB) held $99 million in the iShares Bitcoin Trust (IBIT) as of March 31. Major Pension Fund Buys Bitcoin It also held $63 million in the Grayscale Bitcoin Trust (GBTC), which is BlackRock’s largest competitor in terms of size but also charges a much heftier 1.5% annual management fee. The allocation marks a major…
Mt. Gox fears have put BTC on a path to its largest weekly decline since November 2022. Weaker-than-expected U.S. jobs growth could put a floor under BTC, according to Bitfinex. The payrolls data due Friday is expected to show that the pace of job additions slowed sharply in June. As the sell-off in bitcoin (BTC) becomes unhinged, one analyst is pinning hopes on Friday’s U.S. jobs report to temper the decline. Bitcoin, the leading cryptocurrency by market value, dipped below $54,000 early Friday amid reports that the defunct exchange Mt. Gox moved BTC worth $2.6 billion, supposedly for creditor repayments.…
DWF Labs will buy $12 million worth of Floki tokens to support the meme coin’s growing ecosystem, one Floki developer said. The purchase follows February’s commitment to buy $10 million worth of FLOKI tokens, which contributed to a 50% price increase at the time. Crypto trading firm DWF Labs will buy $12 million worth of floki (FLOKI) tokens from the open market and the Floki treasury to support the dog meme coin-turned-utility project’s growing ecosystem, Floki developer “B” told CoinDesk on Tuesday. This follows a previous commitment to purchase $10 million worth of FLOKI tokens in February, which contributed to…
In a recent post on the X social media network, MicroStrategy co-founder Michael Saylor has predicted that US pension funds, which collectively manage more than $27 trillion in assets, will need “some Bitcoin.” His prediction is now far-fetched. In a Tuesday filing, the State of Wisconsin Investment Board (SWIB), the agency that manages the state’s public pensions, disclosed that it had acquired $99 million worth of shares of BlackRock’s Bitcoin ETF (IBIT). This could be a watershed moment for institutional adoption, according to Eric Balchunas, Bloomberg’s senior ETF analyst. Balchunas has predicted that other pension funds could jump on the…
Many U.S.-based crypto mining stocks are reflecting Bitcoin’s weakness and are trading down close to 10% in premarket trading. Marathon Digital Holdings (MARA) is down 6.5%, while Hut 8 (HUT) is down 8.1% at the time of writing. Michael Saylor’s software company MicroStrategy (MSTR), which holds over 210,000 BTC, is down 6.4% at the time of writing. The recent drop in stock prices occurred after Mt. Gox transferred $2.6 billion worth of Bitcoin (BTC) to a new wallet in preparation for repaying creditors. This drop follows a 10% decrease in Bitcoin’s value over the past week and also follows the…
During his recent appearance on The Defiant, David Schwartz, chief technology officer at Ripple, has revealed that the only way to attack the XRP Ledger is to disrupt the global ordering of transactions. In such a scenario, the entire network would halt. Schwartz went on to explain how the Proof-of-Association (PoA), the XRP Ledger’s unique consensus protocol works, stating that it puts all transactions in order to solve the double-spend problem. “Whichever transaction comes first is valid, whichever transaction comes second is invalid,” he said. The mastermind behind the XRP Ledger has added that the only plausible attack on the…
Investors are waiting for the April consumer price data to be announced. The Consumer Price Index (CPI), an important indicator of inflation, is expected to show an improvement compared to March. However, if the data reveals unexpected shocks, the price of Bitcoin, the world’s largest cryptocurrency, could fall as much as 13% to $53,000, according to a report by digital asset trading firm Zerocap. CPI data in the USA will be published tomorrow at 15:30 Türkiye time (UTC+3). “An unexpectedly high CPI could trigger a media frenzy and lead to short-term declines in risk assets given current concerns about stagflation,”…
This week, Ethereum continues to dominate the decentralized finance (DeFi) space with a total value locked (TVL) of $52.864 billion. It accounts for 60% of the overall market. This significant lead reaffirms Ethereum’s position as the premier platform for DeFi activities. Tron Secures Second Place with $7.429B TVL Tron comes second on the list with a TVL of $7.429 billion according to the data presented on DefiLlama. BSC follows closely with a TVL of $4.358 billion, therefore, indicating that it is still active in the Decentralized Finance space. Another platform that made good results is Solana with a total value…
Bitcoin, the leading cryptocurrency, fell below $54,000 due to a sharp decline due to Mt.Gox refunds. While some analysts believe that the selling pressure will be less than expected and the price will react at these levels, all eyes on BTC and altcoins today are turned to the economic data coming from the USA. The data announced on the first Friday of each month is closely followed by investors and stakeholders to understand the state of the economy. The data disclosed is as follows: Non-agricultural employment Data: Announced 206k – Expected 191k – Previous 272k Unemployment data: Announced 4.1% –…
The crypto and NFT gaming space is busier than ever lately, what with prominent games starting to release, token airdrops piling up, and a seemingly constant array of other things happening at all times. It’s a lot to take in! Luckily, Decrypt’s GG is all over it. And if you need a quick way to get caught up on the latest moves around crypto video games, we’re happy to present This Week in Crypto Games. Our weekend roundup serves up the biggest news from the past week, along with a few other tidbits you might have missed. We also showcase…