crypto
The US Securities and Exchange Commission (SEC) has issued a Wells Notice against Robinhood, targeting the publicly-traded company’s crypto business. The regulatory news saw Robinhood’s share price fall by about 2.2% in pre-market trading. The Robinhood stock price was at $17.95 at 9:20 am ET on Monday. SEC’s notice to Robinhood CryptoAccording to the Wells Notice, the SEC alleges violations of Sections 15(a) and 17A of the Securities Exchange Act of 1934 against Robinhood Crypto. Specifically, SEC is indicating its next step of taking an enforcement action against Robinhood Crypto LLC, with i...
Invezz
A new analysis conducted by Visa and data analytics firm Allium Labs has discovered that less than 10% of stablecoin transaction volumes are generated by real users, with the vast majority driven by automated bots and large-scale traders. Limited organic activity in stablecoin transactionsThe study, which was reported by Bloomberg, investigated approximately $2.2 trillion worth of transactions in April and found that only about $149 billion represented genuine, organic payments activity. This stark discrepancy highlights the prevalence of non-human actors in the stablecoin markets. The analysi...
Invezz
GoMining, an infrastructure company that facilitates access to Bitcoin mining, has successfully raised $3 million in a funding round led by the international venture capital fund, Bitscale Capital. Investment to bolster global mining operationsBitscale Capital’s investment entails acquiring $3 million worth of equity in the form of GOMINING tokens, the native cryptocurrency of the GoMining ecosystem, and a collection of NFTs. These NFTs represent shares of GoMining’s extensive digital Bitcoin mining infrastructure across nine global data centers. This funding is aimed at enhancing GoMining’s m...
Invezz
During the latest G20 summit, India played a major role in pushing for global rules governing organisations over crypto assets. It noted that virtual currencies were transnational and therefore needed international cooperation to be well regulated and their wider macro-financial effects managed. Global efforts in crypto regulationMiCA regulation, set to be enforced in the European Union next year, may transform the crypto-asset landscape entirely. The Dubai International Financial Centre (DIFC), one of the leading financial hubs in the MEASA region, has introduced Digital Assets Law – the worl...
Invezz
Coinbase Global Inc (NASDAQ: COIN) has done exceptionally well over the past three months but it may be as far as its shares go at least in the near term. Ryan Lee shares his view on BitcoinThe crypto stock has outperformed this year partially on the back of a sharp rally in Bitcoin. But there’s reason to believe that the world’s largest cryptocurrency by market cap will pullback in May, says Ryan Lee – the chief analyst at Bitget. From the perspective of Fed Net Liquidity, market liquidity is significantly tightening, which may lead to average performance for BTC in May. Options market, he ad...
Invezz
The largest Friend.tech (FRIEND) whale, identified as “Murphys1d,” sent shockwaves through the crypto community by swiftly offloading over 55,000 newly issued FRIEND tokens right after the platform’s airdrop launch on May 3. The whale’s move caused the value of the FRIEND token to plummet by more than 75%, with prices nosediving from $3.26 to just $0.8095 within hours. Although the price had recovered to around $1.17 at press time, the sudden token sell-off has caused chaos among users just after the token airdrop launch. Users like Luke Martin lamented their inability to claim their airdroppe...
Invezz
There are signs that Bitcoin (BTC) is headed for potential relief from the selling pressure it has faced in recent weeks. The M2 money supply, a crucial economic indicator, has flipped positive for the first time since November 2022, hinting at a shift in investor sentiment towards assets like Bitcoin. In addition, prominent crypto market figures including the former BitMEX CEO and the current CEO of Vailshire Capital Management believe Bitcoin has hit bottom and could start seeing a gradual recovery. M2 money supply points to easing selling pressure Contrary to the expectation of many, Bitcoi...
Invezz
Bitcoin (BTC) plunged to its lowest level in two months on Wednesday. Bitcoin Spot ETFs observed $563 million in net outflows, as seen on CoinGlass. Analysts believe Bitcoin bottom is likely between the $55,000 and $57,000 level. BlackRock’s IBIT records first daily outflow, worries BTC holdersBitcoin holder sentiment turned negative as Spot ETFs recorded their largest single day outflow. BlackRock’s IBIT lost $37 million for the first time since its inception, a cause for concern among market participants. Bitcoin holdings of spot BTC ETFs Bitcoin wiped out 8% of its value since Monday, down ...
Invezz
“India is experiencing a significant evolution in its crypto industry”, says Shivam Thakral. He’s the chief executive of BuyUcoin. Thakral expects crypto adoption to accelerate in IndiaThakral is convinced the world’s fifth largest economy is seeing a “shift in mindset” from its typical risk-averse investment approach. And the momentum, he told Invezz in a recent interview, will only accelerate as regulatory clarity continues to improve moving forward. Still, the chief executive agreed there were risks involved and recommended that investors conduct thorough research and take a long-term stanc...
Invezz
Resonance Security, pioneering a comprehensive cybersecurity approach for both Web2 and Web3, announced the successful closure of a $1.5 million Pre-Seed funding round. This funding, led by prominent venture capital firms in the digital asset space, aims to fuel the company’s rapid expansion and innovation in cybersecurity solutions. Strategic backing from industry leadersThe funding round was co-led by Arca, Fabric VC, and Blockchain Founders Fund—firms known for their strategic investments in the tech and digital assets sectors. These investors have backed notable projects and companies, dem...
Invezz
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