The cryptocurrency market has experienced a massive drawdown. A report from QCP Group, a prominent Singaporean digital asset trading firm, directly links the crash to aggressive selling by Jump Trading. This sell-off has sent shockwaves through the crypto ecosystem, causing major digital assets like Bitcoin and Ethereum to suffer double-digit losses. Jump Trading’s Massive Ethereum...
A wave of panic swept through financial markets on Monday as both cryptocurrency and traditional assets experienced significant drops. This left investors grappling with uncertainty and caused service disruptions at major brokerage firms. Downdetector, a platform that tracks service outages, reported a surge in complaints from Fidelity and Vanguard customers on Monday morning. Over 2,800...
Gene Sperling, a former Ripple board member, has joined Kamala Harris’ 2024 presidential campaign team. According to a White House announcement and a report by AP, Sperling’s move comes after his role in managing Biden’s $1.9 trillion pandemic aid package and his work as a liaison during the auto strikes. Gene Sperling to Bring Crypto...
Trading volumes for Bitcoin exchange-traded funds (Bitcoin ETF) surged past $1 billion on August 5 amid a pronounced cryptocurrency market downturn, triggering heightened trading activity across digital assets. According to Alex Thorn, head of research at asset manager Galaxy Digital, the “extremely elevated” trading volumes following the market drawdown were particularly pronounced in Bitcoin ETFs....
Nansen’s latest report examines the massive sell-off of crypto assets during Crypto Black Monday, highlighting key factors driving the downturn. At the time of writing, all the top cryptocurrencies ranked by market capitalization have encountered a deep decline within the past 24 hours except the stablecoin Tether (USDT), based on statistics provided by CoinMarketCap. According...
Republican presidential frontrunner Donald Trump said that the US government should not sell crypto, but instead focus on building the industry to prevent China from taking the lead. During a recent livestream hosted by 23-year-old streamer Adin Ross, Trump reiterated his support for the crypto industry, aligning with his campaign efforts to attract the crypto...
The ongoing legal battle between Coinbase and the U.S. Securities and Exchange Commission (SEC) is heating up as the regulator pushes back at giving the crypto exchange access to the personal emails of SEC Chair Gary Gensler. Coinbase argues that Gensler’s emails could contain pivotal information related to the SEC’s stance on crypto regulations, which...
Global crypto exchange behemoth Binance is reportedly facing goods and service tax (GST) issues in India, according to sources. The zonal unit of the Directorate General of GST Intelligence (DGGI) of Ahmedabad, has issued a show cause letter to the exchange demanding 7.22 billion rupees ($86 million) under GST. The move is aimed at regulating...
Crypto asset manager CoinShares, reported positive financial results for the second quarter of 2024, showing a significant increase in revenue despite facing challenges including the FlowBank bankruptcy. CoinShares reports combined revenue, gains, and other income for the quarter stood at £37.6 million ($47.9 million) a huge increase from £18.9 million ($24 million) in Q2 2023....
Minnesota Governor Tim Walz will join the Democratic ticket as Kamala Harris’s running mate in the 2024 presidential election, multiple news outlets reported Tuesday. Kamala Harris Taps Minnesota Gov. Tim Walz As Running Mate Speaking with two sources familiar with the matter, The Hill journalists Amie Parnes and Brandon Conradis noted that Walz’s popularity increased...