U.S. inflation data is the major catalyst to watch this week, as it could move the needle on market sentiment and Federal Reserve interest-rate expectations. The war in the Middle East and other geopolitical risks have kept commodity markets volatile, with bitcoin BTC$68,153.83 last week failing to remain above the $70,000 mark. The U.S.-Israel conflict […]
In what’s become a familiar scenario in crypto over the past few months, prices are starting the week on the wrong foot. After little sign over the weekend of any de-escalation in the U.S. war against Iran, the price of oil has exploded higher in Sunday evening U.S. trade. April WTI crude oil futures are […]
The smart money allocating to bitcoin bought the panic last week. Then it sold the rally to everyone else. Whales holding between 10 and 10,000 bitcoin accumulated heavily between Feb. 23 and March 3, when bitcoin was trading between $62,900 and $69,600, according to Santiment. That window covered the worst of the Iran war sell-off […]
Cryptocurrency trading giant Coinbase (COIN) said new U.S. tax reporting requirements are overly onerous for many crypto holders and add unnecessary clutter to the country’s taxation system. While the idea is that taxable activity on crypto should be reported in the same way as with equities, for example, the rules require reporting transactions in stablecoins […]
Bitcoin BTC$67,990.37 fell to $67,960 by Saturday morning, down 3.4% over the past 24 hours and retreating sharply from the past week’s high. The move fits what has become a recurring script in recent months, with late-week selling dragging prices toward the lower end of the range heading into Saturday. Majors took the harder hit […]
Bitcoin briefly pushed toward $74,000 this week, buoyed by a string of bullish developments that have tied the crypto industry ever closer to traditional finance. Some market observers began calling this a bullish rally, with one analyst even saying that the new run ‘has legs.’ Yet the rally didn’t last. By the end of the […]
Dubai’s digital assets regulator said cryptocurrency exchange KuCoin has been operating without the necessary regulatory approvals and licensing, and must cease and desist from serving clients in the region. “Kucoin does not hold any licence to provide virtual asset services in/from Dubai. Any activities related to Virtual Assets advertised or conducted by this company are […]
The U.S. Securities and Exchange Commission reached a settlement with Tron and founder Justin Sun on Thursday, the SEC said in a court filing. Under the terms of the settlement, Rainberry Inc., one of the companies associated with the Tron network, will pay a $10 million fine and be barred from future violations of securities […]
IREN (IREN), a data center operator focused on AI cloud infrastructure, said it agreed to buy more than 50,000 specialized processing chips from Nvidia (NVDA), expanding its capacity by about 50%. The B300 GPUs, or graphic processing units, will take the Sydney-based company’s total AI compute fleet to about 150,000 GPUs. A GPU is a […]
South Korea’s stock market suffered one of its fastest declines in history this week, with the Kospi falling about 20% in two trading days, as geopolitical tensions have, for the moment, shattered what might be termed a speculative bubble in popular AI-related names. The rapid decline followed months of aggressive buying by retail investors that […]
Bitcoin BTC$68,503.15 surged Wednesday, underscoring it’s growing resilience to turmoil in the Middle East, while gold, a traditional safe haven, lagged. The leading cryptocurrency by market value rose to $71,023 during the European hours, up over 6% on a 24-hour basis, according to CoinDesk data. Other majors such as ether (ETH), XRP (XRP) and solana […]
JPMorgan Chase CEO Jamie Dimon said banks want stablecoin issuers that pay interest on customer balances to face the same rules as traditional lenders, sharpening an ongoing debate over U.S. crypto legislation. In an interview with CNBC on Tuesday, Dimon addressed reported tensions with Coinbase CEO Brian Armstrong, who pulled support for the proposed CLARITY […]