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FTX Taps Galaxy to Sell, Stake and Hedge Its Crypto Billions The bankrupt exchange wants to return funds to creditors in dollars without denting value. Bankrupt FTX wants to start staking, and to hedge BTC and ETH sales as it liquidates a $3 billion crypto holding. It’s looking to Mike Novogratz’s Galaxy empire to maximize value from the sales. Bankrupt...
Formerly known as Binance Coin, BNB sunk to as low as $204, its weakest level since late June 2022. BNB price over past week (CoinDesk) BNB dropped to $204 as the WSJ reported that Binance helped Russian users move money abroad. Mounting legal and regulatory scrutiny over the exchange and a large distressed BNB-secured loan has weighed on the token’s...
The chips will be used to set up an AI resource as a recent report said 20% of firms can’t get enough computing power for AI. British Prime Minister Rishi Sunak is set to spend 100 million pounds ($130 million) to buy thousands of computer chips to power artificial intelligence amid a global shortage and race for computing power. The...
A boring August has turned into a bloodbath. Two-thirds of leveraged funds' positions are short, one observer said, noting the bearish bias of sophisticated traders. BTC's price sank (CoinDesk) Bitcoin runs into selling pressure as rates go higher and Wall Street turns risk-averse. Leveraged funds are the most bearish in bitcoin futures since April 2022. Bitcoin (BTC) tumbled about 9%...
The service was rolled out in March last year, in an effort to make traditional financial companies “crypto-ready.” (Nikhilesh De/CoinDesk) Crypto exchange Binance to shut down its buy-and-sell service Binance Connect, formerly known as Bifinity, justone year after its launch, the company said in a statement. The service will be disabled on Aug. 16 as the crypto exchange wants to...
Milei had been tabbed to finish no higher than third in Sunday’s preliminary election. Argentina presidential candidate Javier Milei (Getty images) Javier Milei, a libertarian candidate who has advocated for the elimination of the central bank and spoken favorably of Bitcoin (BTC), won the primary presidential election in Argentina. With 90% of thevote counted, Milei – of the "La Libertad...
The bankrupt exchange faced charges of offering U.S. investors access to unregistered securities. Bittrex (Shutterstock) Crypto exchange Bittrex settled charges of offering U.S. investors access to unregistered securities on Thursday, agreeing to pay a $24 million fine within two months of filing a liquidation plan for the exchange. The SEC sued Bittrex,which filed for bankruptcy in May,earlier this year, saying...
Yields fell across the globe on Tuesday after soft Chinese economic data overnight. Bitcoin retakes $30K (CoinDesk) Crypto markets are posted on Tuesday as long-dated government bond yields headed sharply lower across the globe following far weaker-than-expected Chinese trade numbers for July. The move also comes one day after payments giant PayPal (PYPL)announced plansto issue a stablecoin in the coming...
The move is part of a "process of developing technologies that are going to create democratizing opportunities for wealth creation," Suarez said in an interview on CoinDesk TV on Friday. Bitcoin-friendly Miami Mayor Francis Suarez will be accepting donations to his presidential campaign in bitcoin (BTC) , he announced on CoinDesk TV on Friday. "Officially, my campaign is accepting bitcoin,"...
Paul Grewal said Coinbase would seek to dismiss the Securities and Exchange Commission’s suit, arguing that the crypto exchange never sold securities as the regulator alleged. Paul Grewal said Coinbase would seek to dismiss the Securities and Exchange Commission’s suit, arguing that the crypto exchange never sold securities as the regulator alleged. Coinbase plans to file an order seeking dismissal...
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