Gemini is fighting to reverse its market share decline amid regulatory and financial challenges. The exchange’s troubles became apparent in November 2022 when its Earn Program partner, the now-bankrupt Genesis, failed to pay $765 million owed. As a result, on Jan. 10, Gemini announced discontinuing the Program. Soon after, the…
Quick Take Futures volume is defined as the total volume (USD Value) traded in futures contracts in the last 24 hours, and is essential to understanding the dynamics of Bitcoin purchases in both spot and derivatives markets. Futures volume continues to diminish at its second lowest point this year, 767,000…
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Binance CEO Changpeng Zhao commented on the state of the crypto industry and market during an interview with Bankless on May 29. Zhao dispels FUD First, Zhao discussed recent controversies around his company. Binance has recently attempted to refute reports from Forbes, the Financial Times, and Reuters concerning matters such…
Bitcoin experienced a fleeting spike in the early morning hours on Monday, May 29, briefly surpassing the $28,000 resistance level after spending the better part of May relatively flat. The buying pressure dwindled over the preceding weekend, with Bitcoin stabilizing at $28,800. Graph showing Bitcoin’s price in May 2023 (Source:…
Solana co-founder Roj Gokal said in a May 29 interview with TechCrunch that his company aims to grow 10 to 100 times, primarily through small business and infrastructure partnerships. Solana has a small business focus Gokal said in the interview: “[Solana wants partners] that can move, push releases and experiments…
Crypto exchange BKEX suspended withdrawals after funds on its platform were used for money laundering, according to a May 29 statement. BKEX stated that its users’ funds were involved in money laundering, adding that it was cooperating with law enforcement agencies to gather evidence. Due to this, the exchange suspended…
Quick Take For the first time, the Bitcoin network has dropped below 300 g/KWh emissions, according to Daniel Batten, a Bitcoin ESG analyst. Daniel Batten states this is an “all-time low”; it took just over three years for Bitcoin to half its emission intensity. No other industry is reducing its…
NFT markets have displayed an intriguing set of metrics in 2023 as wash trading and token farming practices emerge amidst declining overall trading volumes. According to a recent DappRadar report, Bored Ape Yacht Club (BAYC) saw a staggering 1,095% growth in 7-day trading volume, reaching $21.9 million. With analysis from…
In a significant turn of events, the controversial Digital Asset Mining Energy (DAME) excise tax was not included in the latest Fiscal Responsibility bill aimed at tackling the Debt Ceiling crisis. This proposed 30% tax on energy costs for cryptocurrency miners drew widespread criticism from stakeholders within the crypto-mining sector…