The crypto lending sector is experiencing a revival following the “crypto winter” that saw the collapse of major players, thanks to the introduction of spot Bitcoin exchange-traded funds and the return of assets to creditors from bankrupt companies. “What I’m seeing is that this market has come back roaring,” Mauricio Di Bartolomeo, co-founder of crypto…
Bitdeer, a prominent Bitcoin (BTC) miner, has announced its acquisition of Desiweminer, a designer of chips for ASIC mining machines, in a significant all-stock transaction valued at $140 million. This strategic move aims to bolster Bitdeer’s capabilities in ASIC chip design and enhance its position in the competitive cryptocurrency mining industry. According to the announcement…
Binance, the world’s largest cryptocurrency exchange, has resumed Mastercard payments for purchasing cryptocurrencies, marking a significant development in the crypto payment landscape. While Mastercard withdrawal services are not yet available, they are expected to be reinstated at a later date. This move comes after Mastercard suspended crypto-related services on Binance in August 2023. The decision…
Robinhood (NASDAQ:HOOD), the popular stock-trading app, is expanding its presence in the cryptocurrency market with the acquisition of global crypto exchange Bitstamp for approximately $200 million. The transaction is expected to finalize in the first half of 2025. Robinhood, traditionally known for enabling everyday consumers to trade stocks, has been gradually increasing its involvement in…
Bitcoin miner Core Scientific (NASDAQ:CORZ) has rejected an all-cash buyout offer from Nvidia-backed cloud provider CoreWeave, stating that the offer undervalues the company. “The board concluded that the CoreWeave proposal significantly undervalues the company and is not in the best interests of the company and its shareholders,” Core Scientific announced in a statement. Core Scientific…
Bitcoin has extended its winning streak to five consecutive sessions, edging closer to the $71,000 mark amidst growing expectations of Federal Reserve interest-rate cuts later this year. The cryptocurrency’s sustained upward momentum marks its longest series of daily gains in three months, with Bitcoin trading at $70,785 as of 8:25 a.m. Wednesday in New York,…
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…