Author: NBTC
Taiwan’s financial regulator, the Financial Supervisory Commission (FSC), now allows professional investors to invest in foreign virtual asset ETFs through a re-entrustment method, according to a Monday press release from the FSC. Re-entrust investments refer to the process where investors delegate their investment decisions or management to another party, here a sub-brokerage or a fund manager that specializes in virtual assets. The latest move is part of the FSC’s effort to diversify product offerings and boost the re-entrustment business of the nation’s securities firms, the agency noted. Due to the high investment risks associated with these crypto-related ETFs, the FSC…
On-chain data shows the XRP sharks and whales have expanded their holdings to a new all-time high (ATH) with a 10% jump in August. XRP Wallets With 10 Million To 100 Million Tokens Have Set A New Record According to data from the analytics firm Santiment, the XRP sharks and whales have sharply increased their holdings recently. The indicator of relevance here is the “Supply Distribution,” which tells us about the total amount of the cryptocurrency that a given wallet group is holding right now. Addresses or investors are divided into these cohorts based on the number of coins that…
Today, enjoy the Lightspeed newsletter on Blockworks.co. Tomorrow, get the news delivered directly to your inbox. Subscribe to the Lightspeed newsletter. In a Friday news dump, the SEC announced that it had settled its case with Mango Markets, a Solana-based DeFi platform that the SEC claims was trafficking in unregistered securities. As part of the deal, Mango DAO and the related Blockworks Foundation (which, as funny as that would be, is not the same as the Blockworks media company sending you this newsletter) will have to pay up “nearly $700,000” in penalties and destroy their MNGO while also removing the…
The post-Fed risk-on rally supports the normalization narrative. Some indicators, like the unemployment rate, the ratio between leading and lagging economic indicators, and the gold-oil ratio, disagree, pointing to an impending slowdown. Since the U.S. Federal Reserve (Fed) cut rates by 50 basis points a week ago, the debate has been raging on whether the so-called easing represents the normalization of an overly tight monetary policy aimed at taming inflation or preparation for an impending economic swoon. Risk assets, including pure fiat liquidity plays like bitcoin (BTC) and altcoins, have rallied since the Fed decision, a sign that markets perceive…
CoinShares Report: Digital Asset Investment Products See $1.228 Billion in Weekly Inflows In a remarkable display of renewed confidence in the digital asset market, a recent CoinShares report revealed that digital asset investment products attracted a staggering $1.228 billion in inflows last week. This marked the third consecutive week of strong inflows, underscoring growing optimism in the sector as global markets respond to shifting economic and monetary conditions. Bitcoin and Ethereum Lead the Charge Unsurprisingly, Bitcoin (BTC) remained the top choice for investors, accounting for the lion’s share of the inflows. According to CoinShares’ Digital Asset Fund Flows Weekly Report,…
Floki [FLOKI] is struggling to regain its footing amidst recent market volatility. Despite being up by 30.5% from its recent lows, FLOKI faces significant resistance and bearish indicators. Current technical evaluations indicate a potential further price drop, urging caution among investors. Discover the latest insights on FLOKI’s price movement, technical resistance levels, and what lies ahead for investors in the volatile crypto market. FLOKI’s Struggle to Reclaim Fibonacci Support Levels Floki [FLOKI] has been caught in a downward trend, showing no definitive signs of recovery from its recent price drops. Even though it has experienced a 30.5% increase from its…
Code is protected speech? Not so fast, a U.S. district judge ruled last week in the high-profile case around Ethereum coin mixer Tornado Cash. Judge Katherine Polk Failla rejected developer Roman Storm’s motion to dismiss his case in the Southern District of New York last Thursday. Over a year after the Tornado Cash co-founder was arrested on money-laundering charges, Failla ruled that his case could proceed to trial. While Failla found that Storm had been adequately charged, Storm argued in his motion to dismiss that his charges infringed on his First Amendment rights. He stated it has been “well established”…
According to the latest data, bitcoin miners pulled in $815.7 million from rewards and fees in September, marking their lowest earnings month of 2024, with $35.66 million less than August’s haul. Bitcoin Miners Earn $815.7M in September, Lowest Monthly Total of 2024 September was a tough month for bitcoin miners, who saw their lowest revenue yet in 2024. Numbers from theblock.co’s mining data show that $801.84 million came from Bitcoin’s 3.125 BTC block reward subsidy. On the fee side, miners gathered $13.86 million throughout the month. Notably, September was the weakest month for fee earnings all year. The combined $815.7…
Over $1.28 billion worth of Bitcoin was sold during a brief spike in selling pressure, despite the cryptocurrency market’s recent performance being comparatively stable. The market was rocked by this unexpected sell-off, particularly since open interest on platforms like Binance sharply decreased. An increasing amount of long positions entered the market when the price of Bitcoin reached $64,800, ultimately making the situation worse. Based on the data, it appears that a lot of traders were too optimistic when Bitcoin got close to $64,800. Anticipating a breakout to higher levels, there was a significant influx of long positions. But as soon…
Today, enjoy the Empire newsletter on Blockworks.co. Tomorrow, get the news delivered directly to your inbox. Subscribe to the Empire newsletter. MicroStrategy, macro impact If you bought the bitcoin dip, you’re definitely not alone. At least six companies — five of which are publicly traded — have snapped up bitcoin following its all-time high in March. MicroStrategy, Block, Metaplanet, Semler Scientific, OneMedNet and soccer team Real Bedford FC — owned by Bitcoin podcaster Peter McCormack — altogether bought an estimated 48,836 BTC in that period. They probably paid about $3.09 billion for that stash, which would now be worth closer…