Tesla and SpaceX CEO Elon Musk has withdrawn his $44 billion offer to buy Twitter, according to multiple reports. Musk offered to buy the social media platform in April, however his comments since have triggered ample “will he or won’t he” speculation about his looming purchase. And today, we finally know for sure: he won’t. Musk today had his advisors…
Ether (ETH) price is up 16% since July 1 and has outperformed Bitcoin (BTC) in the last 7 days. The move could be partially driven by investors clinging to their hopes that the Ethereum network transition to proof-of-stake (PoS) consensus will be a bullish catalyst. The next steps for this smart contract involve “the Merge,” which was previously known as…
It’s a sign of the times that government secrecy isn’t top of mind for American activist and whistleblower Chelsea Manning. “We’re actually so awash in information now that secrecy isn’t the issue anymore,” she said. “It’s verification.” She spoke to Decrypt over a video call in June about her security work at Web3 privacy project Nym and what brought her—somewhat…
Much to the chagrin of cryptocurrency investors across the ecosystem, the bear market has officially set in and brought with it devastating price collapses that have left relatively few unscathed. As the popular topic of conversation now centers on bearish predictions of how low Bitcoin (BTC) will go and how long this iteration of the crypto winter will last, those…
Much to the chagrin of cryptocurrency investors across the ecosystem, the bear market has officially set in and brought with it devastating price collapses that have left relatively few unscathed. As the popular topic of conversation now centers on bearish predictions of how low Bitcoin (BTC) will go and how long this iteration of the crypto winter will last, those…
Brainard spoke the most general terms throughout her speech. She highlighted performance issues that have been seen in cryptocurrency recently, such as volatility, correlation with risky equities, liability to bank runs and other risks associated with traditional finance, and overcollateralization as a stress amplifier. As crypto becomes more integrated into the larger financial system, the need for regulation in response…
According to a report published on July 8, the cryptocurrency firm Blockchain.com lost $270 million from exposure to the crypto hedge fund Three Arrows Capital (3AC). The news was shared in a recent letter to shareholders written by the company’s CEO Peter Smith. The Blockchain.com executive stressed that the firm “remains liquid, solvent and our customers will not be impacted.”…
Welcome to Finance Redefined, your weekly dose of key decentralized finance (DeFi) insights, a newsletter crafted to bring you some of the major developments over the last week. This past week, the DeFi ecosystem got recognition from the United Kingdom government, as they sought public feedback on taxation of the DeFi ecosystem, especially staking and lending. MakerDAO is looking to…
Bitcoin (BTC) rallied to the 200-week moving average on July 8, a level that could act as a battleground between the bulls and the bears. Several analysts are watching this level because a break and close above it could be the first sign that the bear market may be ending. Bloomberg senior commodity strategist Mike McGlone said that Bitcoin’s 50-week and 100-week…
Bitcoin (BTC) rallied to the 200-week moving average on July 8, a level that could act as a battleground between the bulls and the bears. Several analysts are watching this level because a break and close above it could be the first sign that the bear market may be ending. Bloomberg senior commodity strategist Mike McGlone said that Bitcoin’s 50-week and 100-week…
