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Sam Bankman-Fried Verdict: The Crypto Industry Reacts
Long-time watchers of the crypto space are mostly positive on what SBF's conviction means for the future. But long-time critics in Congress are readying to crack down further...
With Sam Bankman-Fried’s conviction yesterday on seven counts of fraud in federal court, the long-running FTX saga appears to be nearing a conclusion (though sentencing and several live issues are yet to be finalized fully).
The question now is what the verdict means for the future of the industry? Will it prove a lasting stain on crypto’s reputation, making it impossible for companies to persuade users of the merits of digital assets? Or will it serve as a moment of closure, proof that the legal system, journalism and the industry itself can clean its ship?
CoinDesk reached out to several long-time crypto watchers for comment and received several quotes unsolicited as well.
Crd::Ben Schiller
#Coindesk #cryptonews #ShigikamiShaman
Long-time watchers of the crypto space are mostly positive on what SBF's conviction means for the future. But long-time critics in Congress are readying to crack down further...
With Sam Bankman-Fried’s conviction yesterday on seven counts of fraud in federal court, the long-running FTX saga appears to be nearing a conclusion (though sentencing and several live issues are yet to be finalized fully).
The question now is what the verdict means for the future of the industry? Will it prove a lasting stain on crypto’s reputation, making it impossible for companies to persuade users of the merits of digital assets? Or will it serve as a moment of closure, proof that the legal system, journalism and the industry itself can clean its ship?
CoinDesk reached out to several long-time crypto watchers for comment and received several quotes unsolicited as well.
Crd::Ben Schiller
#Coindesk #cryptonews #ShigikamiShaman
$BTC
Bitcoin NFT Project Taproot Wizards Sells Out First Collection, Raking in $13M.💥💥
All 3,000 of the "Quantum Cats" digital images were claimed by the end of Monday's public mint, selling for a fixed price of 0.1 BTC ($4,265) each – despite severe technical issues that had delayed the process by a full week.
Bitcoin Ordinals project Taproot Wizards saw robust uptake for its inaugural "Quantum Cats" digital-art sale on Monday, despite severe tech issues that delayed the planned mint three times last week.
All 3,000 of the NFT-like collectibles in the series had sold by the end of a public mint on Monday, at a fixed price of 0.1 BTC ($4,265) each – for total revenue of nearly $13 million.
refer by #Coindesk
#Write2Earn
Bitcoin NFT Project Taproot Wizards Sells Out First Collection, Raking in $13M.💥💥
All 3,000 of the "Quantum Cats" digital images were claimed by the end of Monday's public mint, selling for a fixed price of 0.1 BTC ($4,265) each – despite severe technical issues that had delayed the process by a full week.
Bitcoin Ordinals project Taproot Wizards saw robust uptake for its inaugural "Quantum Cats" digital-art sale on Monday, despite severe tech issues that delayed the planned mint three times last week.
All 3,000 of the NFT-like collectibles in the series had sold by the end of a public mint on Monday, at a fixed price of 0.1 BTC ($4,265) each – for total revenue of nearly $13 million.
refer by #Coindesk
#Write2Earn
dYdX Foundation Requests $30M Budget, Pledges to Issue Annual Spending Report
The Foundation supporting decentralized crypto exchange dYdX has requested $30 million in funding from the project's governing decentralized autonomous organization (DAO) to be spent over the next three years.Switzerland-based dYdX Foundation provides legal, R&D, marketing and technical support to the crypto trading project, which includes a perpetual futures contract exchange and specialty blockchain in the Cosmos and Ethereum ecosystems. The Foundation's goal is to grow dYdX into "the exchange layer of the internet," according to its pitch.The budget request is hardly paltry; if honored by dYdX tokenholders (the voters in the DAO), it would award the Foundation 4% of the DAO's current treasury. At three years long, it would also free the dYdX Foundation from having to submit annual budgets for review and approval, a common practice for other DAOs and their respective foundations.The request garnered widespread approval from dYdX stakeholders ranging from validators to delegates when the Foundation first shared it last Friday. It will now go to a vote running through February 2.Nearly half of the requested budget would cover payroll, with 18% going to marketing and growth, 14% to various legal disbursements, and 5.5% to contractors, among other line items.In a forum post, the Foundation telegraphed its commitment to responsibly managing money through "capital preservation" strategies that reduce risk. It diversified away from USDC and into treasury bonds after last March's banking crisis-fueled stablecoin de-pegging, perhaps a step away from crypto but one that nonetheless reduced risk and tripled yields.The Foundation would "diversify" some of the acquired funds "into fiat and stablecoins" and also invest in expanding its staking operation, through which it currently earns staking yield on 2.5 million dYdX tokens. Its $30 million would comprise 10.5 million DYDX tokens and expand the Foundation's operational runway beyond 18 months.The Foundation's next budget request would come "when we approach 18 months of runway" – likely in mid or late 2026 at current projections. In lieu of annual budget votes, the Foundation said it would "aim to issue an annual report and a semi-annual report" that detailed its use of the funds.#Coindesk #write2earn
𝗠𝗮𝘆 𝟮𝟵, 𝟮𝟬𝟮𝟰
New York Stock Exchange Announces Collaboration with #Coindesk Indices to Offer Financial Products That Track Spot
$BTC 🥇 Prices.
New York Stock Exchange Announces Collaboration with #Coindesk Indices to Offer Financial Products That Track Spot
$BTC 🥇 Prices.
📢Square Enix, the parent of the popular Final #Fantasy video games, said it will focus on #blockchain entertainment in 2023.
Source: #Coindesk
Source: #Coindesk
💥Sam Bankman-Fried’s Alameda Research secretly funded crypto media site The Block and Its CEO.
CEO Michael McCaffrey has resigned as a result of the loans coming to light.
Source:#Coindesk
CEO Michael McCaffrey has resigned as a result of the loans coming to light.
Source:#Coindesk
📢#Genesis owes over $3.5B to top 50 creditors.
Crypto exchange Gemini, trading giant Cumberland, Mirana, MoonAlpha Finance and VanEck’s New Finance Income Fund are among the fifty largest Genesis creditors, according to a bankruptcy filing.
#crypto2023
Source: #Coindesk
Crypto exchange Gemini, trading giant Cumberland, Mirana, MoonAlpha Finance and VanEck’s New Finance Income Fund are among the fifty largest Genesis creditors, according to a bankruptcy filing.
#crypto2023
Source: #Coindesk
📢The person that exploited Solana-based decentralized exchange #Raydium has sent $2.7 million in ethereum to now-sanctioned coin mixing protocol #TornadoCash .
Source: #Coindesk
#solana
Source: #Coindesk
#solana
Sam Bankman-Fried showered politicians with tens of millions of dollars in campaign contributions before his FTX empire imploded last November. Now, the bankrupt crypto exchange wants that money back.
Source: #Coindesk
#cryptotrading #pumpanddump #dyor
Source: #Coindesk
#cryptotrading #pumpanddump #dyor
The English Premier League has linked up with digital trading card company #Sorare to expand its non-fungible token (NFT) offerings. The deal will last for four years and is worth a total of 120 million British pounds ($150 million).
Source: #Coindesk
#crypto2023 #bearorbull
Source: #Coindesk
#crypto2023 #bearorbull
🗞️ #Auradine , a Silicon Valley-based provider of web infrastructure solutions, has emerged from stealth and announced an $81 million Series A funding round.
The funding round was led by venture capital firms Celesta Capital and Mayfield. As part of the investment, Celesta’s Sriram Viswanathan and Mayfield’s Navin Chaddha will join the Auradine board.
#crypto2023 #feedfeverchallenge #adoption
Source: #Coindesk
The funding round was led by venture capital firms Celesta Capital and Mayfield. As part of the investment, Celesta’s Sriram Viswanathan and Mayfield’s Navin Chaddha will join the Auradine board.
#crypto2023 #feedfeverchallenge #adoption
Source: #Coindesk
7 Successful Strategies of Crypto Traders- #Coindesk
1. More breakouts, more signals, more #trades
Adrian Zduńczyk, who runs a trading group called The Birb Nest, has a certain set of rules and signals he uses to enter trades, which are often breakouts.
2. The “moonbag” strategy
This one’s courtesy of Wendy O, former CoinDesker and host of The O Show. If a project that she’s #invested in starts to “moon,” she begins taking profits and then recoups her initial investment.
3. Correlated arbitrage
Paweł Łaskarzewski, who’s indifferent as to bull or bear markets, shares an example of two assets that are correlated in price action. “Tesla goes in the same direction as NASDAQ,”
4. Trading The “Wyckoff Method”
Over 100 years ago, a financial technician named Richard Wyckoff developed a theory that the market moves in cycles, and that understanding these cycles will give signals on when to buy and sell. They’re still used by traders and are known as the Wyckoff market cycle.
5. Trade more than just #crypto
Many crypto traders are also stock traders and forex traders, hunting for the best setups wherever they may appear. “Why limit yourself?” says Łaskarzewski.
6. Use leverage with caution
Several times in our call Wendy O stressed that none of this is financial advice -- so I’ll repeat that message here -- and added that she doesn’t personally use much leverage.
7. Scalping
An oldie but goodie, and a key part of Nomad Fulcurm’s toolkit. “We have night scalpers and day scalpers operating on different timeframes,” says Łaskarzewski. “Hours, minutes, and quarter-hours.” The basic principle: You identify a range where the price has been yo-yoing -- let’s say it tends to bounce up when it hits $15 and then gets “rejected” (moves lower) when it hits $20.
1. More breakouts, more signals, more #trades
Adrian Zduńczyk, who runs a trading group called The Birb Nest, has a certain set of rules and signals he uses to enter trades, which are often breakouts.
2. The “moonbag” strategy
This one’s courtesy of Wendy O, former CoinDesker and host of The O Show. If a project that she’s #invested in starts to “moon,” she begins taking profits and then recoups her initial investment.
3. Correlated arbitrage
Paweł Łaskarzewski, who’s indifferent as to bull or bear markets, shares an example of two assets that are correlated in price action. “Tesla goes in the same direction as NASDAQ,”
4. Trading The “Wyckoff Method”
Over 100 years ago, a financial technician named Richard Wyckoff developed a theory that the market moves in cycles, and that understanding these cycles will give signals on when to buy and sell. They’re still used by traders and are known as the Wyckoff market cycle.
5. Trade more than just #crypto
Many crypto traders are also stock traders and forex traders, hunting for the best setups wherever they may appear. “Why limit yourself?” says Łaskarzewski.
6. Use leverage with caution
Several times in our call Wendy O stressed that none of this is financial advice -- so I’ll repeat that message here -- and added that she doesn’t personally use much leverage.
7. Scalping
An oldie but goodie, and a key part of Nomad Fulcurm’s toolkit. “We have night scalpers and day scalpers operating on different timeframes,” says Łaskarzewski. “Hours, minutes, and quarter-hours.” The basic principle: You identify a range where the price has been yo-yoing -- let’s say it tends to bounce up when it hits $15 and then gets “rejected” (moves lower) when it hits $20.
Bullish Accelerates Growth with CoinDesk Acquisition. 💳🗞️📮
Bullish, a prominent institutional digital assets exchange, has recently acquired CoinDesk, a leading media, events, and index platform in the finance industry. This strategic move aims to bolster CoinDesk's global presence and enhance its media, events, and indexing businesses. Here are the key highlights:
Leadership Continuity:
CoinDesk will continue to operate independently under the leadership of Kevin Worth and the existing management team, ensuring a seamless transition.
Capital Injection:
Bullish plans to infuse capital into CoinDesk's growth initiatives, enabling the launch of new services, events, and products.
Commitment to Independence:
Bullish emphasizes unwavering support for CoinDesk's journalistic independence, underlining the importance of unbiased reporting in the crypto space.
Editorial Committee Leadership:
Matt Murray, former Editor-in-Chief of The Wall Street Journal, assumes the role of Chair of CoinDesk's Editorial Committee, reinforcing the commitment to editorial excellence.
CoinDesk Indices Strength:
CoinDesk Indices, a leading provider of digital asset indices, continues to innovate with new indicators and expand its global client base.
Award-Winning Media:
CoinDesk Media, known for its award-winning news and analysis, remains a pivotal player in the crypto news landscape, with flagship conferences like Consensus drawing over 15,000 attendees in 2023.
Bullish's Trading Volume Milestone:
Since its launch in November 2021, Bullish has executed over $300 billion in total trading volume, establishing itself as a significant player in the institutional digital assets sector.
Regulatory Compliance:
Regulated by the Gibraltar Financial Services Commission, Bullish ensures best execution trading, deep liquidity, and tight spreads.
Strategic Advisory:
Lazard advised DCG and CoinDesk, while Citi played a key advisory role for Bullish in this transaction.
#Coindesk #DCG #Bullish
Bullish, a prominent institutional digital assets exchange, has recently acquired CoinDesk, a leading media, events, and index platform in the finance industry. This strategic move aims to bolster CoinDesk's global presence and enhance its media, events, and indexing businesses. Here are the key highlights:
Leadership Continuity:
CoinDesk will continue to operate independently under the leadership of Kevin Worth and the existing management team, ensuring a seamless transition.
Capital Injection:
Bullish plans to infuse capital into CoinDesk's growth initiatives, enabling the launch of new services, events, and products.
Commitment to Independence:
Bullish emphasizes unwavering support for CoinDesk's journalistic independence, underlining the importance of unbiased reporting in the crypto space.
Editorial Committee Leadership:
Matt Murray, former Editor-in-Chief of The Wall Street Journal, assumes the role of Chair of CoinDesk's Editorial Committee, reinforcing the commitment to editorial excellence.
CoinDesk Indices Strength:
CoinDesk Indices, a leading provider of digital asset indices, continues to innovate with new indicators and expand its global client base.
Award-Winning Media:
CoinDesk Media, known for its award-winning news and analysis, remains a pivotal player in the crypto news landscape, with flagship conferences like Consensus drawing over 15,000 attendees in 2023.
Bullish's Trading Volume Milestone:
Since its launch in November 2021, Bullish has executed over $300 billion in total trading volume, establishing itself as a significant player in the institutional digital assets sector.
Regulatory Compliance:
Regulated by the Gibraltar Financial Services Commission, Bullish ensures best execution trading, deep liquidity, and tight spreads.
Strategic Advisory:
Lazard advised DCG and CoinDesk, while Citi played a key advisory role for Bullish in this transaction.
#Coindesk #DCG #Bullish
⚡️ Crypto exchange Bullish acquires 100% of CoinDesk from Digital Currency Group
Cryptocurrency exchange Bullish has purchased 100% of CoinDesk from crypto-focused investor Digital Currency Group (DCG) in an all-cash deal. After the deal, CoinDesk will operate as an independent subsidiary of Bullish. Last week, Foresight Ventures bought a majority stake in The Block for a ~$60M deal.
#Coindesk #bulllish #DCG #Media #TheBlock
Cryptocurrency exchange Bullish has purchased 100% of CoinDesk from crypto-focused investor Digital Currency Group (DCG) in an all-cash deal. After the deal, CoinDesk will operate as an independent subsidiary of Bullish. Last week, Foresight Ventures bought a majority stake in The Block for a ~$60M deal.
#Coindesk #bulllish #DCG #Media #TheBlock
🗞️ Stablecoin issuer Circle Internet Financial is rebalancing the reserves backing the $30 billion USD Coin (USDC) as it braces for the risk of a U.S. government debt default.
The Circle Reserve Fund, managed by global investment management giant BlackRock, added $8.7 billion in overnight repurchase (repo) agreements to the portfolio as of May 16.
The so-called tri-party repo agreements involve banking giants such as BNP Paribas, Goldman Sachs, Barclays and Royal Bank of Canada.
Source: #Coindesk
#crypto2023 #usdc #feedfeverchallenge
The Circle Reserve Fund, managed by global investment management giant BlackRock, added $8.7 billion in overnight repurchase (repo) agreements to the portfolio as of May 16.
The so-called tri-party repo agreements involve banking giants such as BNP Paribas, Goldman Sachs, Barclays and Royal Bank of Canada.
Source: #Coindesk
#crypto2023 #usdc #feedfeverchallenge
⚡In Nigeria, a new bill in the works could let local regulators recognize #cryptocurrencies as capital for investment.
#Bitcon #Binance #BNB
Source: #Coindesk
#Bitcon #Binance #BNB
Source: #Coindesk
BlackRock's Bitcoin Spot ETF (IBIT) Soars Past $2 Billion AUM, Eying the Top Spot Among BTC Spot ETF
1/ 🚀 BlackRock IBIT Hits a Major Milestone: Surpasses $2 Billion in AUM! 🚀
In a groundbreaking achievement, BlackRock's Bitcoin Spot ETF (IBIT) has crossed the $2 billion AUM mark, establishing itself as a leader among recently launched BTC spot products. 📈 #IBIT #Bitcoin
2/ 🌐 Industry Insights: CoinDesk reports IBIT's AUM milestone, excluding Grayscale. Nate Geraci, CEO of ETF Store, notes IBIT's consistent top 3 ranking in asset size among 600+ ETFs launched since 2023. Geraci anticipates IBIT claiming the top spot soon. 🏆 #CryptoNews #ETF
3/ 📈 High Praise for IBIT: Geraci's optimism reflects IBIT's exceptional growth trajectory since launch. Positioned as a frontrunner in the BTC spot ETF space, IBIT's success mirrors the growing interest in Bitcoin-related financial products. 🚀 #Cryptocurrency #Investing
4/ 💡 Key Takeaways: IBIT's ascent to $2 billion AUM highlights market confidence and adoption of BTC spot ETFs. As a key player in this evolving landscape, IBIT's potential to claim the top spot underscores the integration of traditional finance with the digital asset ecosystem. 🌍🔗
#BlackRockCrypto #BTC-ETF #BTCEFTApproval $BTC #Coindesk
In a groundbreaking achievement, BlackRock's Bitcoin Spot ETF (IBIT) has crossed the $2 billion AUM mark, establishing itself as a leader among recently launched BTC spot products. 📈 #IBIT #Bitcoin
2/ 🌐 Industry Insights: CoinDesk reports IBIT's AUM milestone, excluding Grayscale. Nate Geraci, CEO of ETF Store, notes IBIT's consistent top 3 ranking in asset size among 600+ ETFs launched since 2023. Geraci anticipates IBIT claiming the top spot soon. 🏆 #CryptoNews #ETF
3/ 📈 High Praise for IBIT: Geraci's optimism reflects IBIT's exceptional growth trajectory since launch. Positioned as a frontrunner in the BTC spot ETF space, IBIT's success mirrors the growing interest in Bitcoin-related financial products. 🚀 #Cryptocurrency #Investing
4/ 💡 Key Takeaways: IBIT's ascent to $2 billion AUM highlights market confidence and adoption of BTC spot ETFs. As a key player in this evolving landscape, IBIT's potential to claim the top spot underscores the integration of traditional finance with the digital asset ecosystem. 🌍🔗
#BlackRockCrypto #BTC-ETF #BTCEFTApproval $BTC #Coindesk
📈 The Graph ($GRT )Coin News and Updates
The Graph ($GRT ) has been making headlines recently, showing a significant price rally. Over the past two days, GRT surged by 15%, driven by growing interest in AI-related tokens and the broader adoption of blockchain indexing protocols (#Coindesk ). This rise aligns with increased trading volumes and positive market sentiment, positioning GRT as a promising asset in the current crypto market.
Why Consider $GRT Now?
-Recent Surge in Price: GRT's recent 15% rally reflects its robust performance amidst a volatile market (CoinDesk).
-AI Integration: The Graph is benefiting from the AI token surge, enhancing its utility and adoption in various decentralized applications (CoinDesk) (CoinDesk).
-Predicted Growth: Analysts forecast continued growth for GRT, with projections suggesting a potential rise to $0.46 by early June 2024 (CryptoSwap).
For a detailed price analysis and to stay updated on GRT's performance, check out the latest charts and news on Binance.
The Graph ($GRT ) has been making headlines recently, showing a significant price rally. Over the past two days, GRT surged by 15%, driven by growing interest in AI-related tokens and the broader adoption of blockchain indexing protocols (#Coindesk ). This rise aligns with increased trading volumes and positive market sentiment, positioning GRT as a promising asset in the current crypto market.
Why Consider $GRT Now?
-Recent Surge in Price: GRT's recent 15% rally reflects its robust performance amidst a volatile market (CoinDesk).
-AI Integration: The Graph is benefiting from the AI token surge, enhancing its utility and adoption in various decentralized applications (CoinDesk) (CoinDesk).
-Predicted Growth: Analysts forecast continued growth for GRT, with projections suggesting a potential rise to $0.46 by early June 2024 (CryptoSwap).
For a detailed price analysis and to stay updated on GRT's performance, check out the latest charts and news on Binance.