Author: Andrei Ionescu
Visa and Coinbase have announced a new partnership to enable customers with eligible Visa debit cards to instantly buy, deposit, and withdraw crypto through the Coinbase platform. According to Visa’s statement, customers in the United States and European Union will soon gain real-time access to account funds when using eligible Visa debit cards. This partnership will also allow Coinbase users to purchase crypto instantly and cash out to bank accounts in real time, depending on regional banking policies. “Coinbase already has millions of users with a debit card connected to their accounts,” Visa said, adding that the new service will…
U.S. spot bitcoin ETFs reported massive net inflows of $870 million on Tuesday, marking their largest single-day inflows since early June. BlackRock’s IBIT ETF was the primary driver, recording $642.87 million in net inflows — its highest in more than seven months. The IBIT ETF also experienced a trading volume spike, reaching $3.36 billion on Tuesday — its highest daily volume since March 14. Other major spot bitcoin ETFs saw notable inflows: The remaining five spot bitcoin ETFs reported no inflows. Total trading volume across all 12 ETFs surged to $4.75 billion, up from $3 billion on Monday. Analyst Commentary…
In its latest daily chart report, Matrixport, a leading digital asset platform, noted that Bitcoin surged significantly following Donald Trump’s first election victory in November 2016, when the cryptocurrency traded at around $700 per coin. During Trump’s first year in office, Bitcoin saw substantial growth. While the report cautioned that a single historical data point is not sufficient to establish a trend, market sentiment remains bullish. Many believe that if Trump secures a second term, he may pursue regulatory rollbacks that could further boost Bitcoin’s price. Markets Anticipate Trump Victory According to recent betting markets, Trump has a 66.5% chance…
Arthur Hayes, co-founder of BitMEX and chief investment officer of digital asset fund Maelstrom, predicts in his latest article that China will adopt quantitative easing (QE) and other stimulus measures to tackle deflationary pressures moves that could significantly boost Bitcoin’s growth. Hayes argues that as China increases its money supply to address economic challenges, Bitcoin will emerge as a hedge against currency depreciation. The influx of liquidity, he suggests, will create an environment where Bitcoin is viewed as a store of value and protection from the weakening of the yuan. China’s Economic Pressures and the Case for QE China has…
U.S. spot bitcoin exchange-traded funds (ETFs) saw $479.35 million in net inflows on Monday, the largest daily inflow in two weeks, signaling robust investor demand for bitcoin amid recent price momentum. BlackRock’s IBIT led the charge, pulling in $315.19 million on Monday, according to data from SoSoValue. This marks the 11th consecutive day of positive flows for IBIT, cementing its position as the largest spot bitcoin ETF by net assets. Several other bitcoin ETFs also recorded significant inflows: However, seven other bitcoin ETFs saw no inflows on Monday. The total trading volume for all 12 ETFs climbed to $3 billion,…
With the U.S. election just a week away, markets are bracing for heightened volatility, and Arthur Hayes, co-founder of BitMEX and Chief Investment Officer at digital asset fund Maelstrom, is taking precautions. Hayes announced that Maelstrom has allocated 5% of its portfolio to staked USDe (Ethena USD), a yield-bearing stablecoin, while holding bullish bets on Bitcoin (BTC), Ether (ETH), and other cryptocurrencies. “Given the uncertainty, Maelstrom has 5% of the fund in staked USDe, earning roughly 13%,” Hayes told. He also confirmed that the fund maintains significant long positions in crypto assets despite the election-related risks. Using USDe to Hedge…
The Hong Kong Stock Exchange (HKEX), the sixth-largest stock exchange in the world, announced that it will introduce a virtual asset index series on November 15. This new index aims to provide a unified reference price for Bitcoin (BTC) and Ethereum (ETH) during the Asian trading hours. The index series will be the first of its kind in Hong Kong to comply with the EU Benchmark Regulation (BMR), ensuring transparency and standardization in pricing data. The initiative reflects the region’s growing push to legitimize and integrate digital assets within traditional financial markets. The index will be jointly managed and calculated by CCData, a UK-based data provider known for offering high-quality digital asset market data. Supporting Regional Growth in Digital Assets…
Tokyo-listed investment firm Metaplanet Inc. has bolstered its bitcoin reserves, crossing the 1,000 BTC mark following a $10.4 million acquisition. The company confirmed the purchase of 156.78 BTC at an average price of ¥10.2 million ($66,436) per bitcoin, as part of its ongoing accumulation strategy. The latest purchase brings Metaplanet’s total bitcoin holdings to 1,018.17 BTC, worth approximately $68.8 million. CEO Simon Gerovich announced on X that this milestone makes Metaplanet “one of the largest corporate holders of bitcoin in Asia.” Bitcoin as a Treasury Reserve Asset Metaplanet’s recent buying spree follows the firm’s May 2024 announcement that it would…
A wallet linked to the U.S. government has recovered $19.3 million from a $20 million hack reported earlier this week, according to blockchain analytics firm Arkham. The recovered amount represents 88% of the stolen funds and was retrieved within 24 hours of the incident. Details of the Hack The breach, which occurred on October 24, involved over $20 million in various cryptocurrencies, including: The wallet containing these assets had not seen any movement in over eight months prior to the security breach. It is believed that the perpetrator transferred the stolen funds to non-custodial applications, indicating an attempt to launder…
Ripple Labs has submitted a Form C filing as part of its ongoing legal battle with the U.S. Securities and Exchange Commission (SEC). The filing outlines the grounds for Ripple’s appeal of a previous ruling by the Southern District of New York, challenging the court’s application of the Howey test to XRP’s institutional sales. Revisiting the Howey Test and Legal Dispute Ripple is requesting the appeals court to conduct a “de novo” review, which calls for a fresh examination of how the law was applied in the original decision. The company argues that the district court misapplied the Howey test—a…