After 13 days in an ‘extreme greed’ phase of Bitcoin euphoria, the drop to $61,000 has pushed investor sentiment back into plain ‘greed,’ according to Coinglass. As of press time, Bitcoin is trading at $63,700, just 13% down from its all-time high. At a level of 74 out of 100…
Liquid restaking platform EtherFi’s ETHFI token has faced considerable struggles since its airdrop, partly due to one of its early investors selling their airdropped tokens. Blockchain analytical firm Nansen reported how Arrington XRP Capital, one of EtherFi’s investors, allegedly may have gamed EtherFi’s airdrop process for personal profit. Arrington ‘sybils’ EtherFi…
Sam Bankman-Fried’s (SBF) lawyers have heavily criticized the Department of Justice’s sentencing memorandum in a March 19 letter to Judge Lewis Kaplan. In the letter, the lawyers described the DOJ’s proposed maximum sentence of 50 years imprisonment for SBF as “disturbing” and “with marked hostility.” According to the lawyers: “The…
Bitcoin ETFs saw a second day of outflows on March 19, the first instances of back-to-back outflows since Jan 25. Net outflows totaled $362 million, with Grayscale accounting for all outflows at $443 million. Most funds saw no net movement, with BlackRock, Fidelity, and Bitwise seeing inflows, according to Bitmex…
Solana (SOL) fell 15.9% on March 19 to a five-day low of $166 after a week-long rally that briefly took it close to $210 as it a new all-time high market cap of around $92 billion. As of press time, SOL had recovered some of the losses as market momentum…
The US SEC has delayed the approval process for several highly anticipated Ethereum exchange-traded funds (ETFs), recent regulatory filings show. The delays affect proposals from investment firms, including VanEck, Ark Invest, Hashdex, and Grayscale — which has added a staking component to its ETH ETF application along with Fidelity —…
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The UK Financial Conduct Authority (FCA) announced that it intends to recover the equivalent of $8 million in costs stemming from the supervision of stablecoins and crypto, according to a March 19 release. The funds will be recovered in the form of fees placed on stablecoin issuers and digital asset…
BlackRock, the world’s largest asset management firm, has created a new tokenized asset fund, according to a March 19 SEC filing. The initiative — dubbed the BlackRock USD Institutional Digital Liquidity Fund — is registered in the British Virgin Islands and developed in partnership with San Francisco-based Securitize, a company…
Bankrupt crypto lender Genesis Global has consented to a $21 million civil penalty tied to the now-defunct Gemini Earn lending initiative, according to a March 19 statement from the US SEC. Under the settlement terms, the SEC will not be paid the penalty until Genesis satisfies all bankruptcy claims, including…