In Brief The Intercontinental Exchange-owned crypto platform Bakkt has received approval to raise $150M to fund its long-term vision. Bakkt’s move to raise capital indicates possible financial instability, as it struggles to generate sustainable operating profits and sufficient cash flows. Despite a recent 7.8% gain, Bakkt’s share prices have plunged over 97% from their all-time…
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Bitcoin’s surge past $50,000 catalyzed a broader market upswing, propelling numerous large-cap alternative digital assets such as Ethereum (ETH), Solana (SOL), and others to significant gains. According to data from CryptoSlate, Ethereum saw a 7% uptick, reaching $2,661, while SOL surged 8% to hit $114. Among the top 10 digital assets, Avalanche’s AVAX spiked 6%…
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In Brief Dogecoin on Solana network soars by 1,401,490% in a day, then retracts to near initial levels. The meme coin Dogwifhat (WIF) spikes 25% in 24 hours, influenced by LeBron James’ hat choice. Solana’s meme coin Smog (SMOG) surges over 2,500% in a week, highlighting market volatility. In the crypto market, where trends can…
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In Brief Crypto investment strategy firm CoinShares achieved a $42 million profit in Q4 2023, rebounding from challenges in 2022. Coinshares’ expansion plans include entering the United States market via partnership with asset management firm Valkyrie. The firm aims to consolidate European crypto market leadership while leveraging Valkyrie for US growth. CoinShares, Europe’s largest cryptocurrency…
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In Brief DWS Group warns of inflation and higher bond yields if Trump is re-elected. Rick Santelli highlights risks of high bond yields, suggesting market volatility. Trump’s CBDC stance and AI regulation views could inadvertently boost BTC. As the November presidential election approaches in the United States, speculation mounts about the potential repercussions of Donald…
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In Brief Putin criticizes Biden’s policies for undermining US dollar’s global reserve currency status. Sanctions and political use of USD lead to de-dollarization, with Russia shifting to yuan and ruble. Amidst US debt concerns, Bitcoin gains traction as a potential safe haven and investment. Russian President Vladimir Putin has leveled a severe warning against the…
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In Brief Crypto markets reach highest levels in two years, nearing $2 trillion cap, with Bitcoin topping $50,000. This bull run aligns with the start of a Fed easing cycle, and the market maintains a “buy the dip” mentality. Crypto market evolution includes emerging narratives, such as AI hype and RWA tokenization, driving wealth creation.…
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Super Bowl LVIII will feature a small selection of AI ads, while crypto-related firms seem to have forgone marketing during the event this year. Microsoft is set to advertise its popular artificial intelligence product, Copilot, during the Super Bowl LVIII on Sunday, Feb. 11, according to a Feb. 7 blog post. Microsoft executive Yusuf Mehdi said: “This…
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In Brief The Pudgy Penguins NFT collection’s floor price hit a new all-time high of 21.7 ETH, indicating a significant rise in market value and popularity. This milestone reflects increasing investor confidence in NFTs as a viable asset class, with Pudgy Penguins’ market cap reaching $484,652,037. Originating from 150 hand-drawn traits, these 8,888 unique NFTs…
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In Brief FTX plans to sell CoinList, a subsidiary, for $500,000, one twentieth of its original acquisition cost. Alvarez & Marshal deemed the sale price fair, considering market conditions and licensing agreements. Previously CoinList had to address financial concerns, denying liquidity issues despite past technical difficulties. In a court filing, FTX announced its intention to…
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