The SPAC firm taking cryptocurrency miner Bitdeer public at a $4 billion valuation has filed for another three-month extension. The Blue Safari Group, a special purpose acquisition company, was supposed to merge with BitDeer by June 14 but filed an extension to push the deadline back to September 14. The combination was originally announced in November 2021. SPACs function as…
Wall Street’s major indexes closed the day in red on Tuesday, alongside cryptocurrencies, and precious metals like gold and silver taking some percentage losses. The leading crypto asset bitcoin dropped 5.87% under the $19K region, while the second largest crypto asset ethereum shed 8.7%. Gold’s nominal U.S. dollar value per troy ounce slipped by 0.50%, while silver dropped by 0.74%…
After July’s green candles, August 2022 resumed a downward trend for cryptoassets across the board. Bitcoin, Ethereum and the rest of the crypto market saw negative returns for the month. Prices of BTC (-14%) and ETH (-8%) decreased after July’s gains. Metaverse (-23%) and DeFi (-21%) led sectors to the downside. NFT market activity also slowed last month, with average…
Eight years ago, in 2014, the crypto world was rocked by the crippling hack of Mt. Gox, a popular Bitcoin (BTC) exchange, which was forced to shut down after miscreants were able to make away with approximately 850,000 BTC, worth more than $16 billion at today’s exchange rates. At the time of the incident, the Tokyo-based exchange was the world’s…
Digital asset-backed securities provider ETC Group will continue to rely on Ethereum’s original proof-of-work (PoW) consensus for its current Ethereum exchange-traded product (ETP). ETC Group officially announced on Wednesday the launch of a new Ethereum ETP in response to the upcoming Ethereum Merge. Scheduled to occur in mid-September, the Ethereum Merge is a long-awaited consensus upgrade that is set to…
Bankrupt crypto broker Voyager Digital will be auctioning off its remaining assets next week, a court filing confirmed on Tuesday. Bidders hoping to snap up the company’s holdings have already submitted offers, after the deadline for doing so was extended to from Auugst 26 to September 6. Per the newest filing, a further hearing will then be held on September…
It took a few years, but government crackdowns on “insider trading” involving digital assets have finally arrived. It’s about time! Insider trading occurs often in our securities markets, so it was only a matter of time before crypto and other digital assets would be exploited improperly by miscreants for financial gain. Powers On… is a monthly opinion column from Marc…
Bitcoin has shed 5% of its value in the last 24 hours, according to crypto data aggregator CoinMarketCap. Broadly speaking, Bitcoin has dropped 7% of its market value over the last seven days, with the more intense selloffs happening yesterday and today. Yesterday, Bitcoin fell below the $19,000 threshold for the first time since July 4. Bitcoin has long been…
As the Ethereum network moves from proof-of-work (PoW) consensus to proof-of-stake (PoS), a digital asset platform initiated a service for institutions to dive into Ether (ETH) staking. In an announcement sent to Cointelegraph, Swiss digital asset banking platform SEBA Bank said that it has launched an Ethereum staking service for institutions that want to earn yields from staking on the…
Bitcoin fell below $19,000 on Wednesday, as the token failed to break out of a key resistance level during yesterday’s session. As a result of today’s sell-off, prices are now at their lowest point since June. Ethereum also declined, as bullish sentiment surrounding The Merge faded. Bitcoin Bitcoin (BTC) fell to its lowest level since June earlier in today’s session,…
