Author: Token Flash
The Delaware bankruptcy court handling the FTX estate approved a petition on Thursday from Three Arrows Capital (3AC) to significantly expand its claim against the estate from $120 million to $1.53 billion, marking a major development in the ongoing fallout from the collapse of Sam Bankman-Fried’s crypto empire.3AC, once a dominant crypto hedge fund with over $3 billion in reported net assets, collapsed in 2022 while it still had deep financial ties to FTX, Sam Bankman-Fried’s soon-to-collapse crypto exchange. The hedge fund initially filed a proof of claim worth $120 million against FTX in July 2023 — adding its name…
A new report from 10x Research suggests it’s too early to buy a dip, as Bitcoin is heading to around $73,000 soon. The next bull run will require a new narrative, according to Markus Thielen, a CEO and the main analyst at 10x Research. 10x puts a substantial chunk of the blame for the crypto market decline on Trump’s policies and memecoins collapse: “Many retail investors are now holding portfolios packed with meme coins, most of which are on a slow march to zero with TRUMP leading the way collapsing under the weight of speculation, much like the broader market…
Sellers of risk assets are taking a breather on Friday, with crypto markets posting sizable gains along with U.S. stocks after a week of lame price action.Bitcoin topped $85,000 at one point during U.S. hours and is now trading at $84,400, up 4.7% over the past 24 hours. All cryptos in the CoinDesk 20 Index were higher during the same period, with Chainlink’s LINK, Solana’s SOL and SUI leading gains.The price action happened as risk appetite returned to traditional markets as well. The S&P 500 and the tech-heavy Nasdaq indexes were 1.7% and 2.3 up, respectively. Meanwhile, gold, whose price…
ETH and XRP gained 3%, while SOL surged 7%. Source link
It was a week of red in crypto and traditional markets, with bitcoin plummeting below $80K on March 10 and ETH falling to $1,821 the same day. So much for the “Trump Bump.” With the new administration on a tariff-tear this week, the markets were spooked about a recession and crypto was not immune.Still, progress in digital assets was all around, and our reporters reported it all with alacrity. BlackRock’s bellwether BUIDL fund topped $1 billion and tokenized treasuries hit $4.2 billion, Kris Sandor reported. MoonPay, a payments aggregator, made an important stablecoin acquisition, Will Canny wrote. Ripple won a…
Shares of Bitcoin miner Bit Digital climbed 7% after the company reported more than a 140% revenue jump in 2024, fueled by its growing cloud services segment. Bit Digital’s latest financial results suggest a major shift is underway as its expanding cloud services and high-performance computing operations appear to be reshaping its revenue mix. In a press release on Friday, March 14, Bit Digital reported $108.1 million in total revenue for 2024, a 141% increase from the previous year. The company’s management attributed the surge to the successful rapid expansion of its HPC business. Data shows that cloud services, which…
Billionaire investor Tim Draper has reiterated his bullish stance on Bitcoin, predicting that the cryptocurrency will reach $250,000 by the end of 2025 Source link
Bitcoin and other cryptocurrencies have remained in a strong downtrend this year, shedding over $1 trillion in value. Bitcoin (BTC) has crashed from the year-to-date high of $109,300 to $82,000, while popular altcoins like Ethereum (ETH), Ripple (XRP), and Cardano (ADA) have had deeper dives. Crypto prices have fallen due to rising fear in the financial markets. The crypto fear and greed index has dropped to the extreme fear zone of 19. Similarly, the fear gauge tracked by CNN Money has dropped to 20. The main catalyst for this sell-off is growing concern that the United States is heading toward…
Solana (SOL) transaction count grows from 889.7M to 2.6B, but daily active users drop to 3.1M. The declining developer count and network fees suggest challenges for sustained growth. Solana (SOL) has been trading in the bearish momentum for a while. Currently, it is trading below key moving averages on a daily time frame, indicating bearish signals. However, despite the bearish sentiments, experts and the community are positive about SOL. Renowned Bitcoin analyst, Ali Martinez, said in his latest X post that Sol could reach the $3,800 mark. He describes that Solana is shaping up into a…
A prominent Democrat lawmaker, Congressman Gerry Connolly, has urged the U.S. Treasury to halt former President Donald Trump’s proposal for a strategic Bitcoin reserve. Source link