A new crypto-lending platform dubbed Tokenet says it will service what it expects to be an influx of institutional clients following the potential United States approval of spot Bitcoin (BTC) exchange traded fund (ETF). The platform was launched by a team of executives who previously headed financial services firm Cantor Fitzgerald who since joined a…
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Bitcoin (BTC) mining heavyweights Marathon Digital and Riot Platforms are among the most overvalued crypto mining companies relative to their competitors, says MinerMetrics founder and analyst Jaran Mellerud. The key metric backing Mellerud’s claim is enterprise value-to-sales ratio — measuring a company’s value to its sales revenue. The higher the ratio, the more overvalued a…
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As the Internal Revenue Service (IRS) pushes forward with its proposal to increase cryptocurrency surveillance, a past report might offer a clue for how this information may be used in practice. In short, with the IRS set to keep tabs on Americans’ cryptocurrency usage through an expected 8 billion new returns, it seems the Department…
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Bitcoin (BTC) has been trading within a narrow 4.5% range over the past two weeks, indicating a level of consolidation around the $34,700 mark. Despite the stagnant prices, the 24.2% gains since Oct. 7 instill confidence, driven by the impending effects of the 2024 halving and the potential approval of a Bitcoin spot exchange-traded fund…
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The United States Consumer Financial Protection Bureau (CFPB) has proposed a rule to allow it to supervise large non-bank digital wallet and app providers. The rule is part of a larger move by the agency that has seen it extend its supervision to consumer reporting, consumer debt collection, student loan servicing, international money transfers and…
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Data from Glassnode suggests that Bitcoin (BTC) is in an accumulation pattern with its available supply reaching a new historical low. According to the report, Bitcoin’s illiquid supply and long-term holders cohort rise. As Bitcoin’s supply tightens, available BTC is being purchased by smaller, long-term holding entities. Bitcoin accumulation among a majority of investor cohorts…
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Coinbase has expanded its Global Advisory Council with four national security experts, it announced on Nov. 7. The new members will help the cryptocurrency exchange assess the impact of regulatory uncertainty in the United States. The Coinbase council will take on a decidedly more strategic tone with the new members. Mark Esper is a former…
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FTX collapse: Unraveling the cryptocurrency crisis of November 2022 In November 2022, the cryptocurrency world was rocked by the collapse of FTX, one of the largest cryptocurrency exchanges. The collapse was triggered by a liquidity crisis at FTX, which was caused by a combination of factors, including mismanagement of customer funds and risky trading practices…
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Ordinals, a BRC-20 token collection minted on the Bitcoin blockchain, have surged by 40.8% in the past 24 hours to $10.19 after listing on crypto exchange Binance. According to Binance’s Nov. 7 announcement, traders can now trade Ordinals (ORDI) against Tether (USDT), Bitcoin (BTC), and the Turkish Lira (TRY). Binance claims that it did not charge…
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Who is this person anyway? Irene Zhao, the Simp-Queen mastermind behind the SO-COL platform and a Crypto Twitter influencer, explains that having a celebrity in your corner can turbocharge your NFT collection. Zhao’s first Simp DAO and NFT collection, IreneDAO, started with a floor price that was basically pocket change in ETH. “I think it…
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