Sun, July 26

JPMorgan Cautious on Crypto Market Amid Retail Investor Pullback

For a number of reasons, such as dwindling interest from retail investors and a dearth of encouraging signs, JPMorgan maintains its previous advice to be cautious in the cryptocurrency markets going forward.  On Thursday, analysts from JPMorgan, headed by Nikolaos Panigirtzoglou, mentioned the cautious stance in a report. The analysts

May 2, 2024 1 min read

Stronghold Digital Mining Mulls Company Sale for Shareholder Value Boost

In an attempt to optimize shareholder value, Bitcoin mining firm Stronghold Digital Mining is contemplating selling the firm, as stated in its first-quarter financial report. The sale of “all or part of the company” or other strategic deals involving its assets are among the many options being considered by the

May 2, 2024 2 mins read

PayPal and MoonPay Collaboration Expands Crypto Options for US Users

United States users may now purchase and trade more than a hundred different cryptocurrencies, including Bitcoin and Ethereum, using PayPal transactions via wallet, bank transfers, or debit cards, thanks to the new collaboration pact between MoonPay and PayPal. A variety of digital assets, including Bitcoin, Ethereum, Litecoin, PayPal USD, and

May 2, 2024 2 mins read

European Banking Giant BNP Paribas Invests in Blackrock Bitcoin ETF

Recent reports indicate substantial withdrawals from the U.S. Spot Bitcoin ETFs. But big money is already jumping on board with these ETFs. Being the second-largest bank in Europe, BNP Paribas is the most recent one. BNP Paribas has put money into the iShares Bitcoin Trust (IBIT) that BlackRock offers. On

May 2, 2024 1 min read

Bitcoin Miner Riot Platforms Reports $211.8M Net Income in Q1 2024

Despite missing revenue projections, Bitcoin (BTC) mining business Riot Platforms announced a whopping $211.8 million net income for Q1 2024, up 1,000% year-over-year. The primary driver of the 55.4% year-on-year growth in mining income to $74.6 million, as revealed in Riot’s first quarter earnings announced May 1, was the 131%

May 2, 2024 1 min read

US Authorities Investigate Jack Dorsey Led Block Over Compliance Breaches

Reports indicate that US federal authorities are looking into Block, Inc., Jack Dorsey’s fintech startup, after the disclosure of papers by a whistleblower that claimed the company’s payment divisions, Square and Cash App, were involved in extensive and persistent compliance breaches. According to NBC News’ May 1 report, a former

May 2, 2024 2 mins read

MicroStrategy Introduces Decentralized ID Solution on Bitcoin Network

Using Ordinal-based inscriptions to store and retrieve information, MicroStrategy—the biggest corporate holder of Bitcoin—will create a decentralized identification solution on the Bitcoin network. Similar to how actual people’s identities are not associated with Bitcoin addresses or transactions, decentralized identifiers (DIDs) will provide anonymity. Open-source and Not Reliant on Sidechains Moreover,

May 2, 2024 2 mins read

Bitcoin Plummets Below $57K Amidst Record Outflows from US ETFs

Bitcoin’s (BTC) price took a significant hit, dipping below the $60,000 mark and settling around $57,000 amidst concerns of further decline. The downturn was worsened by substantial outflows from US spot Bitcoin ETFs, exceeding $500 million on May 1st. This sell-off intensified following the Federal Reserve’s (Fed) announcement, led by

May 2, 2024 2 mins read

FOMC Meeting Spurs Crypto Volatility, Bears Take the Lead

The third meeting of the Federal Open Market Committee (FOMC) for 2024 is already underway, and it will have a major impact on the American economy. Today, May 1, at 2 PM European Time (11:30 PM Indian Standard Time), the meeting that began on Tuesday, April 30, is expected to

May 1, 2024 2 mins read

Breaking Down Bitcoin’s Retreat to $56K: A Call for Caution?

Distress grips the global crypto market as Bitcoin (BTC) sinks to $56K, slamming the brakes on its momentum within the $62K-$66K zone. From its all-time high (ATH) of $73,750 in March, the largest-capped crypto has retreated by 23% to hit its 2-month low of $56,555.  Consequently, crypto liquidations in the

May 1, 2024 2 mins read