🔵 Base’s total value locked crosses $2 billion for the first time amid sustained user activity
Base, a Layer 2 Ethereum network incubated by Coinbase, has seen its total value locked cross the $2 billion mark for the first time, positioning it as the second-largest optimistic rollup by deposits after Arbitrum. According to DeFiLlama data, Base’s TVL stands at $2.08 billion, up from about $430 million at the start of the year, marking a 370% growth year-to-date
Source
@TradeCryptoNow
💰 BlackRock’s head of digital assets says #Bitcoin is risky, but still a ‘risk-off’ asset
BlackRock head of digital assets Robbie Mitchnick believes the crypto industry has made a marketing blunder when it comes to Bitcoin (BTC). A risk-on asset, like stocks, is something that investors buy when they are optimistic about the market and are willing to take more risk. Therefore, a “risk-off asset” is where investors move their money when they’re worried about market volatility.
Source
@TradeCryptoNow
💰 #Bitcoin ETFs set to attract liquidity and speculation as IBIT options trading gains approval
Last week, the U.S. Securities and Exchange Commission approved BlackRock's proposal to list and trade options for its spot bitcoin exchange-traded fund, the iShares Bitcoin Trust ETF (ticker: IBIT). Firms like Grayscale and Bitwise have also been looking to list and trade options for their spot bitcoin ETFs following the SEC's approval of 11 spot BTC ETFs in January.
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@TradeCryptoNow
💰 Blackrock’s Ishares Bitcoin Options Get the SEC Green Light
The U.S. Securities and Exchange Commission (SEC) has granted approval for the listing and trading of options on the Ishares Bitcoin Trust (IBIT), a product by Blackrock. This decision introduces a new financial instrument aimed at providing investors with the ability to hedge and manage risk associated with bitcoin exposure.
Source
@TradeCryptoNow
💰 Hut 8 expands Bitmain partnership with launch of next-gen ASIC miner, boosting hash rate by 80%
Bitcoin miner Hut 8 Corp. announced Thursday the expansion of its partnership with mining rig manufacturer Bitmain Technologies with the launch of the U3S21EXPH, a next-generation ASIC miner. Hut 8 plans to deploy the model in the second quarter of 2025 through a 15 exahash per second hosting agreement leveraging custom data center infrastructure developed in-house.
Source
@TradeCryptoNow
🔥 BREAKING: 🇺🇸 Federal Reserve cuts interest rates by 50bps for the first time in 4 years.
🤝 @Cryptocurrency_Inside ✅
💰 Coinbase reports 'degraded performance' for Polygon transactions shortly after network upgrade
Coinbase, the largest U.S. cryptocurrency exchange, has put out a status update alerting users that Polygon transfers may be delayed. “We are aware that some users may be experiencing delayed sends and receives for Polygon (Matic). Buys, Sells, and Fiat withdrawals/deposits are not affected. We are investigating this issue and will provide an update shortly. Rest assured, your funds are safe,” the company’s status page read.
Source
@TradeCryptoNow
💰 Cypherpunk Holdings goes all in on #Solana, rebrands as SOL Strategies
Cypherpunk Holdings (ticker: HODL) is doubling down on its strategy to buy and stake Solana’s native token — to such an extent that the publicly traded cryptocurrency holding company has been renamed Strategies, it announced on Thursday. The firm, which only began buying SOL in the second quarter of 2024 (when former Valkyrie CEO Leah Wald took up the reins as chief executive officer), now holds over 86,000 solana (valued above $11 million at current prices, according to The Block’s data), the majority of which are being staked to earn token rewards.
Source
@TradeCryptoNow
💰 Cleanspark’s $27.5M expansion to boost Bitcoin mining power by 22%
CleanSpark is set to acquire seven Bitcoin mining sites in Tennessee, along with associated properties, for $27.5 million, according to a Sept. 11 statement. The miner stated that these facilities have a combined power capacity of 85 megawatts (MW), which means the deal equates to about $324,000 per MW.
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@TradeCryptoNow
📊 Bitcoin, ether remain subdued as markets process underwhelming US economic data
Bitcoin and ether remain under key price levels after sliding down over the weekend following Friday's bearish U.S. economic data. The largest cryptocurrency trades at $54,744 when writing, gaining 0.64% in the past 24 hours. Ether (ETH) added 0.17% to change hands at around $2,291, according to The Block’s crypto price page.
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@TradeCryptoNow
🪙 Vaneck Reveals Plans to Close Ethereum Futures ETF
On Sept. 6, Vaneck announced its decision to close and liquidate the Vaneck Ethereum Strategy exchange-traded fund (EFUT). The liquidation comes after evaluating key factors, including performance and investor interest. The firm noted that shareholders will have until September 16, 2024, to sell their shares before delisting.
Source
@TradeCryptoNow
🇺🇸 US crypto firms ramp up lobbying efforts, expenditures up 1386% over 7 years
A recent study has revealed that US crypto companies have significantly increased their lobbying efforts, with expenditures rising by 1386% from 2017 to 2023. According to data compiled by Social Capital Markets, crypto firms spent $40.42 million lobbying for regulatory changes during 2023 alone, signaling the growing importance of government relations in the industry.
Source
@TradeCryptoNow
🇨🇭 Major Swiss bank ZKB launches 24/7 Bitcoin and Ethereum trading
Switzerland’s fourth-largest bank, Zürcher Kantonalbank (ZKB), has introduced trading and secure storage for major digital assets, including Bitcoin and Ethereum, according to a Sept. 4 announcement. According to the bank, its customers can now trade BTC and ETH around the clock through its existing ZKB eBanking or ZKB Mobile Banking. It added that this was facilitated through its partnership with Crypto Finance AG, a subsidiary of Deutsche Börse Group.
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@TradeCryptoNow
💰 Bitcoin ETFs see $287.8 million outflow, largest since May 1
Farside data shows that Bitcoin ETFs experienced a significant outflow of $287.8 million on Sept. 3, marking the largest outflow since May 1, when $563.7 million exited the market. Eight ETF issuers recorded outflows, highlighting a broad retreat from Bitcoin ETF investments. Among the hardest hit was Fidelity’s FBTC, which saw a $162.3 million outflow, and Grayscale’s GBTC, with $50.4 million leaving the fund. Bitwise’s BITB ETF lost $25.0 million, while ARK’s ARKB ETF experienced a $33.6 million outflow.
Source
@TradeCryptoNow
🇰🇵 FBI warns of North Korean threat to crypto, cautions against potential ETF-related attacks
The Federal Bureau of Investigation (FBI) issued a warning about North Korea’s aggressive targeting of the crypto industry on Sept. 3. The agency detailed the sophisticated social engineering campaigns conducted by North Korean actors against employees of crypto-related businesses, notably DeFi applications.
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@TradeCryptoNow
🪙 #Bitcoin miner Hut 8 expands AI push with new 'GPU-as-a-Service' cluster
Hut 8 announced Thursday that it has started generating revenue from its new GPU-as-a-service offering, which rents out GPU computing power to clients. The service, which supports high-performance tasks like AI processing, became fully operational with the launch of its first GPU system for an artificial intelligence cloud developer as the bitcoin miner seeks a strategic expansion beyond cryptocurrency mining.
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@TradeCryptoNow
💰 US yield curve and derivatives interest are bullish signs for #bitcoin, Standard Chartered analsyt says
Standard Chartered's global head of digital assets research has highlighted a number of factors that could support bitcoin's price in the coming months. U.S. Treasury notes, long-term borrowing costs are relatively higher than short-term borrowing, which often indicates optimism about future economic growth and contributes to a favorable environment for investments, including bitcoin.
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@TradeCryptoNow
💰 21.co integrates Chainlink to enhance 21BTC transparency via real-time Proof-of-Reserves
21.co, the parent company of asset management firm 21Shares, has integrated Chainlink Proof of Reserve on the Ethereum and Solana mainnet to bolster transparency of its wrapped Bitcoin product, 21BTC, according to a Sept. 23 statement. The company will use Chainlink’s Proof of Reserve through its digital asset platform, Onyx, to automate real-time reserve verification to ensure secure minting of 21BTC.
Source
@TradeCryptoNow
🚨 North Korea-linked hack costs crypto exchange BingX $52 million in crypto
Crypto exchange BingX confirmed that it experienced a “minor asset loss” after detecting suspicious outflows from one of its hot wallets. In a post on Sept. 20, BingX’s Chief Product Officer Vivien Lin stated that the exact amount stolen from the breach was still under evaluation and that the incident occurred around 4:00 A.M. Singapore time.
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@TradeCryptoNow
💰 MicroStrategy boosts Bitcoin buying power with $875M convertible debt offering
MicroStrategy has increased its convertible debt offering to $875 million from $700 million to purchase more Bitcoin, according to a Sept. 18 statement. The Virginia-based company aims to raise these funds by selling convertible senior notes with an interest rate of 0.625% annually. These unsecured senior obligations will be available to institutional investors in a private sale. The notes are set to mature in September 2028.
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@TradeCryptoNow
🇺🇸 SEC Takes Action Against Fake Crypto Platforms Using Social Media to Deceive Investors
The U.S. Securities and Exchange Commission (SEC) has cracked down on two crypto investment scams, targeting platforms Nanobit and Coinw6. Involving fake relationships to deceive victims via social media, these schemes siphoned millions from unsuspecting investors. The charges mark the first SEC enforcement actions against such scams.
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@TradeCryptoNow
💰 MicroStrategy buys $1.1 billion in #Bitcoin amid market volatility
MicroStrategy acquired approximately 18,300 Bitcoin for $1.1 billion between Aug. 6 and Sept. 12 at an average price of $60,408 per BTC, according to a Sept. 13 filing with the US Securities and Exchange Commission (SEC). Coinflip data shows the company’s latest purchase already has a paper loss of $2.2 million due to the top digital asset’s current volatility.
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@TradeCryptoNow
🏦 Coinbase’s cbBTC launches seeking DeFi boom on Base and #Ethereum
Coinbase has officially launched its wrapped Bitcoin token, cbBTC, on its layer-2 network, Base, and Ethereum mainnet, according to a Sept. 12 statement. According to Coinbase, cbBTC is an ERC-20 token fully backed by Bitcoin and custodied on the platform. When users send BTC from Coinbase to Base or Ethereum, it automatically converts to cbBTC and vice versa.
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@TradeCryptoNow
🥇 Bitwise CIO highlights rapid adoption of Bitcoin ETFs by advisors
Bitwise Chief Information Officer (CIO) Matt Hougan asserted that investment advisors are adopting spot Bitcoin (BTC) exchange-traded funds (ETFs) faster than any other ETF launched in recent history. Hougan made the statement in response to a Sept. 8 social media post by researcher Jim Bianco, who claimed that less than 10% of US-traded spot Bitcoin ETFs AUM comes from investment advisors. He added that the ETFs are a “small tourist tool” instead of an adoption vehicle.
Source
@TradeCryptoNow
🪙 Tether addresses $102 million agricultural investment: land is "crucial asset class"
The latest business that caught the eye—and the capital— of Tether, issuer of the world's largest stablecoin and the most valuable company in crypto, has been revealed. Between July 29 and August 16 of this year, Tether's investment division purchased shares worth about $102 million in South America-based agricultural giant Adecoagro SA, which trades on the Nasdaq stock exchange as AGRO, filings show.
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@TradeCryptoNow
🇷🇺 Chainalysis says Russia’s crypto infrastructure aims to skirt Western sanctions
According to blockchain analytics provider Chainalysis, the Central Bank of Russia (CBR) is spearheading efforts to develop financial infrastructure that will enable the country to use cryptocurrencies for international trade and circumvent Western sanctions. Friday's Chainalysis policy and regulation report highlighted recent legislation passed by the Russian parliament that legalizes cryptocurrency mining and allows the use of cryptocurrencies for international payments.
Source
@TradeCryptoNow
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🐶119 Million DOGE Sent to Robinhood, Market Impact Feared
🚨 Over 119 million Dogecoin, worth $11.7 million, was transferred from an unknown wallet to Robinhood. This large move raises concerns of a potential sell-off, increasing bearish sentiment in the DOGE market.
📉 Dogecoin is down 2.87% in the last 24 hours, trading at $0.09629. The overall market has dropped 3.6%, with the crypto market cap falling below $2 trillion.
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📊 Global crypto investment products see $305 million in weekly outflows: CoinShares
Global crypto investment products at asset managers such as Ark Invest, Bitwise, BlackRock, Fidelity, Grayscale, ProShares and 21Shares returned to net outflows last week, totaling $305 million, following net inflows of $543 million the week before, according to CoinShares' latest report. “We continue to expect the asset class to become increasingly sensitive to interest rate expectations as the Fed gets closer to a pivot,” Butterfill added.
Source
@TradeCryptoNow