Author: Max Bauer
Coinbase, one of the world’s leading cryptocurrency exchanges, has announced it will list Floki Inu (FLOKI). Trading for FLOKI on the Ethereum network (ERC-20 token) is scheduled to begin on or after 9:00 AM Pacific Time on November 21, 2024, provided liquidity conditions are met. Coinbase emphasized the importance of using the correct network, cautioning users against sending FLOKI via other networks to avoid potential loss of funds. The official ERC-20 contract address for FLOKI is 0xcf0c122c6b73ff809c693db761e7baebe62b6a2e. Initially, trading will be available on the FLOKI-USD pair, rolling out in phases as sufficient supply of the asset is established. Coinbase also…
Arkham Intelligence, the company behind the Binance-listed altcoin Arkham (ARKM), has announced a surprising move to launch a spot cryptocurrency trading platform in the United States. This announcement comes shortly after the company revealed plans for a futures trading platform specifically excluding US users due to regulatory restrictions. While the company intends to offer spot trading in the US, it included a significant caveat: “Eligibility may vary by region. Users residing in the United States will be excluded from participation until participation is legally permitted in their country and state.” This suggests the platform’s US launch is contingent on future…
According to Coindesk, President-elect Donald Trump is reportedly considering Teresa Goody Guillén, a seasoned lawyer with extensive experience in cryptocurrency and securities law, to lead the Securities and Exchange Commission (SEC). Goody Guillén, a partner at BakerHostetler and co-lead of its blockchain practice, has emerged as a prominent contender for the position, according to sources familiar with the matter. Cryptocurrency companies are actively advocating for Goody Guillén’s appointment, citing her deep understanding of both the SEC’s inner workings and the complexities of the blockchain industry. She has previously represented both traditional Wall Street firms and blockchain companies in cases against…
The introduction of options trading on the iShares Bitcoin Trust, the leading Bitcoin ETF with $43 billion in assets, is poised to reduce Bitcoin’s volatility and broaden its investor base, according to Alex Thorn, Head of Firmwide Research at Galaxy Digital. Speaking on Bloomberg Television on Tuesday, Thorn explained that wider adoption of Bitcoin, facilitated by options trading, will contribute to decreased volatility. “Over time, as it’s more widely held, volatility will decrease,” Thorn stated. “Options will help dampen volatility, and as volatility comes down, people can take larger position sizes.” Nasdaq launched options trading for the iShares Bitcoin Trust…
John Bollinger, renowned technical analyst and creator of Bollinger Bands, weighed in on Bitcoin’s recent all-time high, noting that the milestone eliminates a potential bearish signal on the cryptocurrency’s chart. The record price invalidates a possible negative Bollinger Band divergence, a technical pattern that can sometimes foreshadow a price reversal. Bollinger acknowledged the recent period of consolidation in Bitcoin’s price, describing it as a normal occurrence within an uptrend. While some might interpret consolidation as a sign of weakness, Bollinger suggests it’s a natural part of a healthy bull market. However, the analyst also expressed concern about the lack of…
Bitcoin mining economics saw a significant boost in the first half of November, according to a JPMorgan research report released on Monday. Analysts Reginald Smith and Charles Pearce attributed this improvement to a rising hashprice, a key metric for mining profitability. The hashprice, which measures the revenue miners earn per unit of hashing power, jumped 29% since the end of October. This surge was driven by a combination of factors, including Bitcoin’s price rally outpacing network hashrate growth and an increase in transaction fees as a proportion of the block reward. The report also highlighted a significant increase in the…
A recent ruling by the Songjiang District People’s Court in Shanghai has highlighted the complex legal landscape surrounding virtual currencies in China. While affirming that virtual currencies possess property attributes akin to virtual commodities, the court underscored the illegality of business activities related to their issuance and trading. This decision follows a case involving an agricultural development company (Company X) that contracted with an investment management company (Company S) to issue its own virtual currency for fundraising purposes. The case, a service contract dispute, stemmed from a 2017 agreement between the two companies. Attracted by the explosive growth of Bitcoin…
Trump Media and Technology Group (TMTG), the social media company owned by former President Donald Trump, is reportedly in advanced negotiations to acquire Bakkt, a cryptocurrency trading venue owned by Intercontinental Exchange (ICE). The potential all-share deal, if finalized, would significantly expand TMTG’s reach beyond social media and deepen Trump’s involvement in the cryptocurrency market. Bakkt’s market capitalization stood at just over $150 million on Monday, though the exact valuation under discussion remains undisclosed. TMTG, which operates the Truth Social platform, has seen its stock become a favorite among retail investors since Trump’s election victory, achieving a $6 billion equity…
President-elect Donald Trump is scheduled to meet privately with Coinbase CEO Brian Armstrong on Monday, according to WSJ sources familiar with the matter. The meeting, the first between the two since Election Day, is expected to focus on personnel appointments for Trump’s second administration, further solidifying the former president’s surprising shift towards embracing the cryptocurrency industry. Trump, once a crypto skeptic, has become an increasingly vocal supporter of digital assets. This evolving stance culminated in a speech at this year’s annual Bitcoin conference, where he pledged to establish a Bitcoin and cryptocurrency presidential advisory council if elected. This council would…
Bitcoin’s price surge following Donald Trump’s election victory has ignited fervent speculation about the cryptocurrency’s future trajectory. With the price already up nearly 120% this year and approaching record highs, market watchers are increasingly bullish, predicting a potential ascent to $100,000 and beyond. Some analysts even foresee Bitcoin reaching $1 million within the next few years. A prediction market on Polymarket currently gives Bitcoin a 64% chance of hitting $100,000 before the end of 2024. This optimism is fueled by several factors, most notably Trump’s pro-crypto stance during his campaign. Trump has pledged to reverse the Biden administration’s crackdown on…