Bitcoin led the investment charge last week, accumulating over $1.97 billion in inflows, while Ether experienced its strongest week since March, attracting nearly $70 million in inflows. Expectations are mounting among some traders regarding continued buying activity in Ether-tracked products, with projections of the asset reaching the $10,000 price level by 2024. In a report…
Bitfarms Ltd., a Bitcoin mining company, is adopting a “poison pill” shareholder rights plan in response to an unsolicited takeover offer from larger rival Riot Platforms Inc. A poison pill strategy is designed to deter corporate takeovers by making the acquisition too costly for the acquiring company. Under the terms of Bitfarms’ plan, if an…
Cryptocurrency custody firm Fireblocks has announced a partnership with Coinbase International Exchange, the non-U.S. division of Coinbase Global Inc. (NASDAQ:COIN), to provide more secure trading features for institutional and retail clients in eligible jurisdictions, the companies reported on Monday. Through this partnership, Fireblocks customers can now link their accounts with Coinbase International Exchange, safeguarding operations…
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…