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Crypto News
Crypto News
CoinDesk's CEO Kevin Worth Departs in Major Restructuring Led by New Owner Bullish
17 days ago
CoinDesk
CoinDesk
followers

This article originally appeared in First Mover, CoinDesk’s daily newsletter, putting the latest moves in crypto markets in context. Subscribe to get it in your inbox every day. Latest Prices Top Stories Bitcoin (BTC) rose for a fifth day, surpassing the $47,000 mark early Friday as the CoinDesk 20 Index (CD20), a gauge of the biggest cryptocurrencies, added 4%. The largest crypto by market cap reached a one-month high as East Asia ushered in its biggest festival of the year, the Chinese new year of the dragon, celebrating the start of what’s believed to be one of the luckiest periods according to the Chinese Zodiac. In Mandarin Chinese, the word for dragon is pronounced similarly to “long,” boosting memetic value among crypto traders. Some analysts predict the cryptocurrency will rise to $50,000 over the weekend. Others have said it might even reach $53,000-$55,000 before the cryptocurrency’s halving in April. Cryptocurrency-related publicly traded companies showed healthy gains in pre-market trading on Friday as bitcoin extended its rally. Bitcoin miner CleanSpark (CLSK) led the way, climbing almost 20% as of 10:15 UTC. The company reported fiscal first-quarter profit of $25.9 million on Thursday compared with a $29 million loss the year before. Riot Platforms (RIOT) and Marathon Digital Holdings (MARA) also rallied, adding 7% and 8% respectively. Mining stocks are a recommended entry point for bitcoin exposure ahead of the forthcoming halving, in which the reward miners earn for new coins is cut by 50%, broker Bernstein said. The firm picked CLSK and RIOT as its preferred stocks in a research report on Thursday. Banking giant JPMorgan's survey found that 78% of institutional traders aren't planning to trade cryptocurrencies in the next five years, and just a small group sees blockchain/distributed ledger technology (DLT) as the most influential technology in shaping the future of trading over the next three years. The bank interviewed over 4,000 institutional traders for its 2024 e-Trading annual survey, which covers upcoming trends and hot topics in the trading sector. The participants seemed less enthusiastic about blockchain technology in 2024 than in the previous two years. Trending Posts Bitcoin Miner Shares Offer Good Entry Point Ahead of Halving Event: Bernstein Bitcoin ETFs (Ex-GBTC) Now Hold More BTC Than MicroStrategy CoinDesk’s New Owner Bullish Replaces CEO in Restructuring

16 days ago
Daily Crypto
Daily Crypto
followers

The bankrupt cryptocurrency lending firm Celsius Network (CEL) announced plans to recall Ethereum (ETH) tokens as part of its ongoing restructuring process. #Celcius #ETH #CEL

about 2 months ago
CriptoGemas
CriptoGemas
followers

🔥$300M liquidated from Evergrande - Crypto market fall?🤷 We bring you the latest news from the Crypto and financial market globally. BRICS: Chinese real estate company will liquidate $300 billion in assets. A Hong Kong court on Monday ordered Evergrande, the largest real estate developer in BRICS member China, to liquidate $300 billion in assets. The real estate giant #Evergrande was unable to offer a concrete restructuring plan and became the most indebted real estate developer in the world. Evergrande did not present restructuring plans despite months of delays in several court hearings. However, Judge Linda Chan ordered the liquidation of more than $300 billion in liabilities after observing Evergrande's failures in restructuring plans. “It is time for the court to say enough is enough,” Judge Chan said during her final judicial verdict. Evergrande's commercial operations will now make it more difficult to focus on its revival. "It is not the end but the beginning of the protracted liquidation process, which will make Evergrande's daily operations even more difficult," said Gary Ng, senior economist at Natixis. Read also: The expansion of #BRICS is a threat to the #swift payment system and the US dollar "As most of Evergrande's assets are in mainland China, there are uncertainties about how creditors can seize the assets and the payment range of offshore bondholders, and the situation may be even worse for shareholders," he said. to Reuters. BRICS country China's economy is not in good shape in 2024 as major business giants face bankruptcy. The Chinese yuan, along with the economy, is going downhill and growth remains stagnant for three years. This puts the BRICS in a situation where China was leading de-dollarization efforts around the world. We will see if it affects the #Criptomonedas market this week. Source: WatcherGuru

28 days ago
NFT
MarenDAO
Floor Price
0 ETH
Total Volume
165.06 ETH
Minted on 19 Jan 2022

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