Kerrisdale Capital Management LLC, known for its short-selling strategies, has set its sights on Riot Blockchain Inc., criticizing its business model as flawed in the challenging landscape of Bitcoin mining. According to Kerrisdale, investing in Bitcoin directly is a more viable option for cryptocurrency enthusiasts than purchasing miner stocks. The report released by Kerrisdale founder…
Core Scientific (NASDAQ:CORZ), a Bitcoin mining company, saw its shares surge up to 40% in pre-market trading following a significant AI deal with cloud computing firm CoreWeave and a reported buyout offer from the same company. CoreWeave has reportedly made an all-cash offer to purchase Core Scientific, implying a 55% premium over the miner’s three-month…
In a notable development, global Bitcoin funds observed substantial net inflows amounting to $148 million last week, as reported by CoinShares. This surge in investments contrasts sharply with short Bitcoin products, which experienced outflows totaling $3.5 million. Additionally, Ethereum funds attracted $33.5 million, marking the second consecutive week of positive inflows following a prolonged period…
Digital assets firm Galaxy Digital has granted a multimillion-dollar loan to Yat Siu, the co-founder of Animoca Brands, using a unique collateral combination: a tokenized 1708 Stradivarius violin and its corresponding non-fungible token. Valued at over $9 million, the violin boasts a storied history, including ownership by Russian Empress Catherine the Great. This deal could…
In response to the growing demand for scalable and cost-effective Bitcoin payments, the team behind the Bitcoin layer-2 protocol Ark has established a new company called Ark Labs. This innovative firm aims to develop a faster and more efficient payment system on the Bitcoin blockchain, offering a compelling alternative to the Lightning Network. Led by…
Robinhood (NASDAQ:HOOD) imposed buying restrictions on GameStop (NYSE:GME) shares late Sunday after the meme stock’s value surged following speculation that Keith Gill, known as “Roaring Kitty,” might hold a substantial position in the company. The brokerage stated that Blue Ocean ATS, the platform facilitating overnight trades, would only accept orders within 20% above or below…
In May, global non-fungible token (NFT) sales witnessed a notable decline, totaling $604 million, marking the lowest monthly performance since October and the first month of the year with sales below $1 billion. Ethereum, renowned as the leading blockchain for NFT sales, experienced a dip in sales, recording $164 million in May, the lowest since…
Coinbase’s recent $25 million donation to political action committees (PACs) has propelled the crypto industry’s campaign fund to approximately $161 million, making it one of the most significant players in U.S. campaign finance. This substantial cash injection positions the crypto industry as a formidable force in influencing the political landscape, with the potential to allocate…
Cryptocurrency exchange Bybit has confirmed reports of an executive reshuffle following complications with the Notcoin launch, which led to $23 million in compensation being distributed to 320,000 users. The news, initially reported by Wu Blockchain, indicated that several executives had “voluntarily resigned” and that Bybit had hired new technical and spot managers. A Bybit spokesperson…
Bitcoin’s price has maintained a remarkably tight trading range near $68,000 following the U.S. Memorial Day holiday, with a slight dip approaching the week’s low in Friday’s morning trading hours. At 11:45 am ET, bitcoin was priced at $67,300, down 1% over the past 24 hours and 2% from its peak two hours earlier at…