Author: Max Bauer
Spot Ethereum ETFs have had a rough start since launching in July, experiencing $476 million in net outflows in August and a 30% drop in Ethereum’s price. This starkly contrasts with the January launch of spot Bitcoin ETFs, which saw $5.4 billion in inflows and a Bitcoin price surge past $50,000. However, JP Morgan analysts caution against directly comparing the performance of these two crypto ETFs. They highlight several factors contributing to the disparity, including Bitcoin’s established “store of value” reputation and the fact that spot Ethereum ETFs don’t offer staking rewards, thus not reflecting Ethereum’s full value. The analysts…
Telegram, the popular messaging app, recently announced that it has reached 10 million paid subscribers for its premium service, Telegram Premium. The company also revealed a series of updates aimed at enhancing user experience and bolstering security. “Businesses Nearby” Replaces “People Nearby” Among the new features is “Businesses Nearby,” which will spotlight verified local businesses, allowing them to present product catalogs and facilitate seamless payments directly within the platform. This initiative replaces the “People Nearby” feature, which the company says was underutilized and prone to misuse by bots and scammers. In addition, Telegram has restricted new media uploads to its…
Market analysts are urging caution in interpreting Federal Reserve Governor Christopher Waller’s recent speech, suggesting that the market may have overreacted to hints of potential rate cuts. According to Jinshi Data, analyst Cameron Crise highlighted that while Waller mentioned supporting strong action or early rate cuts if necessary, the market seemed to overlook the conditional nature of his statement. Waller dedicated a significant portion of his speech emphasizing optimism about the economy, the limitations of the “Sahm Rule” as a recession predictor, and the need for further data before deciding on the extent of easing. Crise, along with insights from…
Investment management firm VanEck announced today that it plans to shutter its Ethereum futures ETF (EFUT). The decision comes after a thorough evaluation of the fund’s performance, liquidity, assets under management, investor interest, and other operational factors. VanEck’s move may be because it has already launched a spot ETH ETF. In January this year, VanEck also closed its Bitcoin futures ETF due to the approval of its Bitcoin spot ETF. In a press release, VanEck stated: “As the sponsor of VanEck ETFs, we continuously monitor and evaluate our offerings across a number of factors… The decision was made to liquidate…
In March 2024, Bitcoin reached a new all-time high, leaving many wondering if this was the final peak of the market. However, according to on-chain analysis by CryptoQuant, March’s peak may have been merely an “initial top” rather than the ultimate one. “Looking at Binary CDD, we can see that long-term holders did take some profits around March 2024,” a CryptoQuant analyst noted. “However, Binary CDD has not yet reached the red zone, a level it historically hits before the final market top.” This suggests that there is still room for further upside in the market. Moreover, current data shows…
After Telegram CEO Pavel Durov hinted that he would cooperate with the authorities in his last message, some changes were made in Telegram’s frequently asked questions section.The following statements have now been removed from the updated FAQ: “All Telegram chats and group chats are private amongst their participants. We do not process any requests related to them.” You can see the before and after version of the FAQ in the image below. UPDATE: There are claims that the privacy statements in the Telegram FAQ were not removed, but instead moved to Copyright section, but a check of older versions of…
George Lagarias, chief economist of Forvis Mazars, has expressed a firm preference for a 25 basis point rate cut by the Federal Reserve. Lagarias believes that a more aggressive 50 basis point cut could send the wrong message to the market, potentially fueling recession fears and becoming a self-fulfilling prophecy. While a 25 basis point cut is widely anticipated by strategists, recent economic data, including a significant drop in job openings in July, has prompted some to advocate for a larger cut. However, Lagarias cautions against such a move, emphasizing that while a slowdown is evident, the economy is not…
The Telegram founder and CEO was arrested Aug. 24 near Paris and has since been indicted on six charges related to illicit activity on the app. He has been banned from leaving France and must check in at a Paris police station twice a week. He, published a new message on Telegram. Here is the full message: Thanks everyone for your support and love! Last month I got interviewed by police for 4 days after arriving in Paris. I was told I may be personally responsible for other people’s illegal use of Telegram, because the French authorities didn’t receive responses…
Orlando Bravo, founder of private equity firm Thoma Bravo, is permanently out of the crypto market following his firm’s disastrous investment in the now-bankrupt FTX exchange. Bravo, who once called FTX the “most cutting-edge, sophisticated cryptocurrency exchange in the world,” now says that he and his firm are permanently out of crypto. The downfall of FTX, which spiraled into bankruptcy in late 2022 amidst accusations of massive fraud and conspiracy, has left a lasting impact on Bravo’s investment philosophy. “Once you make a mistake and once you get burned on something, our philosophy and my philosophy is you never touch…
Coinbase CFO Alesia Haas sparked attention by suggesting that Vice President Kamala Harris’ campaign was accepting cryptocurrency donations through Coinbase Commerce, a platform for digital payments. Speaking at Citi’s 2024 Global TMT Conference on September 4, Haas noted that Harris had a significant opportunity to attract voters by endorsing pro-crypto legislation in her bid for the 2024 presidential election. This statement led to speculation that the campaign was directly accepting crypto donations. However, a Harris campaign spokesperson clarified that while the campaign itself is not accepting cryptocurrency contributions, they are being funneled through the Super PAC Future Forward. This political…