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Cointelegraph
Cointelegraph
Robinhood to roll out US-stock trading to the British market
about 7 hours ago
Cointelegraph
Cointelegraph
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ARK Invest, a cryptocurrency investment firm founded by Bitcoin (BTC) advocate Cathie Wood, bought about $1.5 million of SoFi Technologies (SOFI) shares on Nov. 29, the day the latter announced its exit from crypto. On Nov. 29, ARK bought 200,275 SOFI shares to allocate to its ARK Fintech Innovation ETF (ARKF), according to a trade notification seen by Cointelegraph. The amount is worth $1.47 million, based on SOFI’s closing price on Nov. 29, or $7.35 a share, according to data from TradingView. ARK’s latest SOFI purchase came on the day SoFi Technologies officially announced its decision to terminate cryptocurrency services by Dec. 19, 2023. “After careful consideration, we’ve made the decision to discontinue our crypto services by the end of this year,” SoFi said, directing its customers to migrate their crypto holdings to the online crypto wallet Blockchain.com. ARK has been actively buying SoFi shares throughout the year, buying a total of 1,772,991 SOFI for ARKF so far. ARKF’s SoFi exposure is worth around $13 million at today’s prices. SoFi stock has seen some volatility in 2023, surging to $11.45 in July after starting the year at just $4.5. SoFi shares have been gradually declining since then, dropping below $7 in mid-November. SoFi Technologies (SOFI) shares’ year-to-date price chart. Source: TradingView In addition to buying SoFi, ARK has been actively buying Robinhood (HOOD) shares, bagging 221,759 HOOD on Nov. 29. Robinhood’s trading app allows one to buy and trade cryptocurrencies like Bitcoin in the United States. The platform officially announced plans to expand its business into the U.K. on Nov. 30, without mentioning whether cryptocurrency would be part of the offering. While buying SoFi and Robinhood, ARK has continued to sell the Coinbase (COIN) stock. On Nov. 29, ARK sold around 38,000 COIN shares from the ARKF ETF, totaling nearly $5 million. ARK did not immediately respond to Cointelegraph’s request for comment. Magazine: How to protect your crypto in a volatile market — Bitcoin OGs and experts weigh in

about 2 hours ago
Yiğit Yektin
Yiğit Yektin
Algorithmic Stablecoins
about 17 hours ago
Whale Tracker 24-7
Whale Tracker 24-7
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Cathie Wood's Recent Investment Shifts ⤵️ 📣 ARK Invest, led by CEO Cathie Wood, sold a significant 43,956 shares in Coinbase as its stock soared to a high not seen since April 2022, reaching $128.27 at market close on Tuesday. 📣 Contrasting the Coinbase sale, ARK's Fintech Innovation ETF increased its stake in Robinhood, purchasing an additional 143,063 shares, valued at approximately $1.2 million, as Robinhood's stock rose to $8.64. 📣 ARK also made notable sales in the Grayscale Bitcoin Trust, offloading 36,168 shares on November 22nd and 32,980 shares on November 21st, totaling over $2 million. Meanwhile, GBTC's value increased by more than 4.60% at market close on Tuesday. How do you interpret Cathie Wood's and ARK Invest's recent stock trading strategies? Share your insights and analysis! #CathieWood #ArkInvest #StockTrading #DailyHodl #coinbase

about 18 hours ago
Tokenist
Tokenist
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Neither the author, Tim Fries, nor this website, The Tokenist, provide financial advice. Please consult our  website policy prior to making financial decisions. Economies with a debt-based monetary model are fueled by innovation. One of them is the emergence of buy-now-pay-later (BNPL). It encourages consumption by fragmenting payments into installments so they are more easily managed. BNPL’s growth is facilitated by e-commerce digitization as it makes online shopping exceedingly accessible and convenient. As such, BNPL’s global market size is heading for a $3.9 trillion target by 2031, from $256.54 billion in 2022, according to Straits Research. This would put BNPL’s compound annual growth rate (CAGR) at 30.5%, significantly exceeding the e-commerce market CAGR itself at 10% (by 2028). According to PYMNTS data released in September, BNPL became so popular as to be used for grocery shopping, gaining a 55.6% share out of all BNPL orders. With this new consumer habit and triple outpacing in mind, which stocks are poised to benefit from FinTech’s short-term loan innovation? Affirm Holdings, Inc. (NASDAQ: AFRM) When Affirm went public in January 2021, its initial public offering (IPO) price was $49 per share. While AFRM share price has fallen to $31, the largest US BNPL provider has gained 241% year-to-date, exceeding even Nvidia (NVDA). As of August 2023, Affirm reported 16.5 million active customers, a 30% increase from December 2022. This impressive growth is unsurprising given that Affirm doesn’t charge deferred interest, compound interest, late fees, or penalties. Instead, the company generates revenue through transactions paid by merchants when Affirm executes them.  To that end, Affirm exclusively partnered with Shopify early on in 2020 to enable Shop Pay installments. This was the major rail for Affirm’s success as the Shopify platform caters to over 500,000 businesses worldwide. Since that partnership, Shopify’s active users have grown by over 200%. In the latest earnings report from November 8th, Affirm missed the earnings per share (EPS) consensus of $0.08 at reported -$0.57. However, it beat the revenue estimate of $444.48 million at $496.55 million, a 37.3% increase from a year-ago quarter. Despite a net loss of $985.34 million, Affirm is a high-growth stock as mirrored by its large revenue increase. Based on 17 analyst inputs pulled by Nasdaq, AFRM stock is “hold”, positioning it as presently fairly valued. The average AFRM price target is $21.59 vs current $31. The high estimate is $33, while the low forecast is $12 per share.  Join our Telegram group and never miss a breaking digital asset story. Block (NYSE: SQ) After absorbing the Australian Afterpay in January 2022 for $29 billion, Jack Dorsey’s Block became known for three things: BNPL, Bitcoin, and CashApp. Like Affirm, Block doesn’t incur interest on payment installments but relies on merchant fees, late fees, and deferred interest (if installments are not repaid in full). Although not specifically addressing its Afterpay-integrated BNPL revenue, Block reported $5.62 billion total net revenue, a 24% year-over-year growth. Since Block is not a standalone BNPL service provider but has Bitcoin and CashApp to diversify, the company offers a more secure investment exposure. Block’s CashApp generated $984 million gross profit, up 27% yoy. Bitcoin’s gross profit ran up to $45 million, generating $2.42 billion in revenue. With the hype around Bitcoin ETF approvals and the 4th halving in April 2024, investors should consider Block a hybrid crypto/payments high-growth stock.  Based on 39 analyst inputs pulled by Nasdaq, SQ stock is a “strong buy.” The average SQ price target is $71.87 vs the current $63. The high estimate is $95, while the low forecast is $46 per share.  Apple (NASDAQ: AAPL) For investors interested in even safer BNPL exposure, Apple presents a solid proposition. By the latest 13F filing, Apple makes half of Warren Buffett’s investment portfolio. The tech giant has been probing the FinTech waters for a while, starting with the launch of Apple Pay in 2014. In March 2023, Apple upgraded Apple Pay with BNPL for up to $1000 without incurring interest or fees, split into four installments. Throughout 2022, Apple Pay processed $6 trillion in payments globally, making it one of the largest FinTech forces. For comparison, PayPal had a total payment volume of only $1.36 trillion (TPV). However, Apple Pay’s share in the online payments arena is still relatively low, at 12.62% vs PayPal’s 56.15% share. Since its launch, Apple’s BNPL service, known as Apple Pay Later, has shown promise. According to a J.D. Power survey, 19% of BNPL customers used it, while PayPal dominated at 39% BNPL share. Although Apple’s entry into the buy-now-pay-later will be limited by its ecosystem, it is large. Moreover, Apple can instantly scale it as an established payments brand name. It is also worth noting that Apple didn’t hint at auto-fining customers for “misinformation” as PayPal did.  Based on 31 analyst inputs pulled by Nasdaq, AAPL stock is a “strong buy.” The average AAPL price target is $201.99 vs the current $190. The high estimate is $240, while the low forecast is $150 per share. Given that 60% of Americans live from paycheck to paycheck, do you think BNPL will become an essential service? Let us know in the comments below. The post Three Stocks that Can Benefit from the Buy-Now-Pay-Later Craze appeared first on Tokenist.

about 20 hours ago
链研社lianyanshe
链研社lianyanshe
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Bitcoin Halving Cycle in 2024 (Black Swan Highlights) There is too much content in the article. I wrote it for three days and finally it is almost over. I will give you the conclusion about the black swan in the market first. The article will be published tomorrow. 1. Black swan events that occur before the halving or during the bull market will not interrupt the bull market process. 2. A black swan event at the end of a bull market will end the bull market and even directly enter a bear market. 3. Black swans in the encryption market include regulatory crackdowns, hacker attacks, global macro events, and Ponzi model collapse. The historical declines are more than 40% and last for more than one month. 4. Black swan events occur almost every year. Black swan events in the next year may be related to traditional financial macro events (debt crisis, banking problems, economic slowdown) 5. To deal with black swan events, you need to understand the currency cycle, asset diversification (US stocks, crypto, OTC cash flow), and hedging risks through options or hedging Black swan time points to pay attention to 1. In March before the halving, the 312 incident and the bankruptcy of Silicon Valley Bank occurred. The stock market fluctuated greatly in March, and several financial crises occurred in this month. 2. May after the halving, the 519 and LUNA incidents occurred in history in May, and after the halving, it was a key node in the Fed’s interest rate cut game. 3. One year after the halving, from May to July 2025, the historical 9.4 and 5.19 events that interrupted the bull market process due to policies all occurred one year after the halving. Before that, the market generally If there are signs of overzealousness, the government will intervene 4. From November to December of 2025, there are several time nodes for the end of the bull market, such as the 2017 historical high, the 2021 historical high, and the 2022 FTX incident. It mainly depends on whether Bitcoin has made significant progress in the traditional financial market, such as the previous The bear market started twice because of the CME Bitcoin futures contract and the Bitcoin futures ETF.

about 22 hours ago
CoinCodex
CoinCodex
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 Key takeaways NIO Inc. (NYSE:NIO) has struggled during 2023, leading to a major reduction to the stock price YTD The electric vehicle manufacturer is set to release its Q3 earnings report on 5th December Wall Street are expecting a slight improvement to loss per share following a series of cost-cutting measures NIO cuts costs in the run-up to Q3 earnings targeting more productive efficiency in a bid to salvage profit The current price of NIO Inc. (NYSE:NIO) is $7.21, up +$0.28% from the previous close. The stock price has seen a slight boost during pre-market trading, indicating that investors could be anticipating upside for NIO over the short term. NIO’s Q3 earnings report is due to take place on 5th December and the expectation is that there will be a QoQ improvement. NIO has implemented cost-cutting measures in recent months following a difficult 2023 in which the stock price has fallen -26% YTD. The company was forced to cut prices in line with its competitors and deliveries remain some way short of 2023’s annual target. As of 20th November, NIO had delivered 126,067 electric vehicles (EVs) — roughly half of its 250,000 target for the year. NIO recently took the decision to layoff around 10% of its staff in a bid to reduce overheads, and the EV company is also cutting the development of several long-term projects that were not expected to contribute to revenue in the next 3 years. The company cited “fierce competition” in the EV market as reason to wind down some of its operations, with a view to streamlining productive efficiency and improving gross "https://coincodex.com/stock/NIO/earnings/">earnings report, forecasting an EPS of -$0.43 compared against Q2’s -$0.51. NIO earnings The vast majority of institutional investors still hold NIO stock despite recent troubles Fierce competition in the EV market led NIO to slashing prices earlier in 2023. Coupled with reduced demand across the market, this led to a major underperformance from NIO in Q1 this year. By March, Wall Street had forecasted an EPS of $1.77 during the Q1 earnings report, but NIO reported a QoQ reduction to net profit margin which led to a loss per share of -$0.51. In response, NIO overhauled manufacturing processes at one of its key factories in Anhui province and has since been focused on reducing costs. Stripping back production to focus only on revenue-generating projects in addition to the recent lay-offs are expected to further improve NIO’s net profit margins, where its operating loss has risen for 3 consecutive quarters. Institutional investors have also reduced their exposure to NIO stock in recent months. Q3’s 13F filings showed that 15 fewer institutions were holding NIO stock when compared with Q2, but there’s still 446 institutions that own 407.32 million NIO shares between them.   NIO Q2 earnings, via Whale Wisdom Algorithm predicts -35% drop for NIO stock in next 3 months Despite a slight uptick for NIO in pre-market trading due to an expectation that NIO will see a "https://coincodex.com/stock/NIO/price-prediction/">NIO price prediction algorithm remains bearish in the near term. NIO has slid -55% from its August peak of $16.16, and the algorithm expects the slide to continue in the next 3 months. By 1st March 2024, NIO could be trading at $6.23 following a bounce up from $4.67. From the current price of $7.21 to the forecasted low of $4.67, NIO could see a -35% price reduction in the months after Q3’s earnings. Bottom line: NIO’s struggles continue but traders may be positioning for short-term rally Lay-offs for ~10% of all employees and wind-downs for multi-year projects signal that NIO has taken decisive action in a bid to improve net profit "https://cnevpost.com/2023/11/20/nio-president-refutes-doubts-over-collapse/">stating that “there is absolutely no possibility of NIO going out of business.” As a relative newcomer to the EV market and the largest manufacturer in Asia, investors remain positive on NIO’s ability to turn around its recent fortunes. The entire market has experienced a decline in demand during 2023, and NIO’s underperformance has been impacted by Tesla’s (NASDAQ:TSLA) decision to slash prices early in the year. Traders may be anticipating a near-term bounce for NIO in the run up to the 5th December earnings report. However, the NIO price prediction algorithm expects the recent downtrend to continue heading into the New Year, with a -35% forecast by the end of Q1 2024.

1 day ago
koinmilyoner
koinmilyoner
followers

Over the past several days, PEPE has dropped, reversing the majority of the gains it made in November. In the midst of the enthusiasm surrounding Shibarium, Shiba Inu (SHIB) has just reached yet another milestone. With RichQuack (QUACK), token holders have an opportunity to invest, grow, hold, and win big in the stock market. Owners of PEPE have expressed dissatisfaction with the token's performance as of late, particularly in light of the significant token burn that occurred. Aside from that, Shiba Inu's (SHIB) network activity is significantly increasing as a result of the growing interest in Shibarium. RichQuack (QUACK) plans to do this by bringing together like-minded individuals who are prepared to put in long hours and make significant contributions to reach their shared objective. With any luck, our project will one day be the go-to site for secure fundraising and investment, complete with a jackpot raffle for holding and a lottery that pays out at the top of the hour, day, week, and month. In the month of November, PEPE Records a Mixed Performance Investors have been dissatisfied with Pepe due to the severe volatility it saw in November. As the expectation around spot Bitcoin ETFs continues to grow, the majority of cryptocurrency projects are witnessing a positive climb. Over the past several days, PEPE has lost the majority of the gains it made at the beginning of November. During the first day of November, PEPE was trading at $0.000001186. The price of PEPE had increased by 12.9% to $0.000001340 by the 10th of November. Despite this, PEPE had a decline of 20.1%, reaching a price of $0.000001070 on November 23. It is possible that the reduction in Pepe is the result of decreased trading activity that occurred after the company's dramatic rug pull in late August. Fearing that PEPE would pull the rug out from under them once again, investor sentiment plummeted drastically. In an effort to improve investor sentiment on the network, the new staff has been subjected to token burns. However, its performance in November shows the present market challenge that it is experiencing. Furthermore, experts predict that PEPE will increase by 28.0%, reaching $0.000001370. The Shiba Inu (SHIB) Has Reached a Significant Milestone In the time since February 2021, the number of Shiba Inu wallets that have a balance of more than zero dollars has increased to 1.26 million, representing an almost 15,000% increase. Additionally, since the middle of October, Shiba Inu's market capitalization has seen a gain of $800 million. As was to be predicted, the value of SHIB has increased in tandem with the activity of Shiba Inu's network. On November 1, the price of SHIB was $0.000007954 by the market. Before the 23rd of November, the value of SHIB had climbed somewhat by 1.9%, reaching $0.000008113. The bullish performance of Shiba Inu (SHIB) has been attributed to a variety of various explanations by specialists. As a result of the increasing network activity on Shibarium, several people believe that investor mood in Shiba Inu has improved. Some people believe that the recent token burns that Shiba Inu's team has been doing might have added value to SHIB. Regardless of the circumstances, researchers have come to the conclusion that Shiba Inu has the potential to become one of the most successful alternative cryptocurrencies if it continues to rise. In addition, they anticipate that SHIB will increase by 9.8%, reaching $0.000008913. Satoshi, the Rebel, Invites You to Participate in the Fight Against Centralization One hundred quadrillion, with seventeen zeroes, is the total quantity of QUACK. Rich Quack followed the trend of other meme currencies and launched with an absurdly large supply to entice retail purchasers seeking small-cap coins. Rich Quack chose not to have a presale or assign teams in order to emphasize that this project is led by the community. To stop users from becoming tough, the liquidity has been frozen for 5 years. Half of that quantity was used up right away, while the other half was made available as cash. In addition, Rich Quack has promised that liquidity providers would get half of the earnings from its future Quack Launch Platform. The buy-back and burn portion will take up 30%, while the raffle portion will take up 20%. On Binance Smart Chain, Rich Quack is a BEP-20 token. Techrate, a recognized auditor in the cryptocurrency industry, has conducted an independent audit of it. Binance Smart Chain (BSC) is where Rich Quack calls home. It's the meme currency industry standard because to its lightning-fast transactions and cheap fees. In order to reach new heights never before seen, Rich Quack is focusing on attracting retail investors. The proof-of-stake consensus process ensures the security of BSC. Every twenty-one minutes, 21 people are chosen to verify transactions and keep the blockchain secure. Staking a specific quantity of BNB coins with Binance is a requirement for these validators to participate. #PEPE #Shiba #RichQUACK🐤 #MemeSeason

about 23 hours ago
Binance News
Binance News
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According to Yahoo News, the stock market is expected to increase by 5% in December, reaching record highs and causing the S&P 500 to rise to 4,800, as stated in a recent note by Fundstrat's Tom Lee. This would bring the S&P 500 close to its January 2022 all-time intraday high of 4,818 and slightly above its record closing high of 4,796. Lee believes that the upcoming release of October personal consumption expenditures price data on Thursday will be 'soft,' helping to drive stocks higher initially. However, Lee does not anticipate a straight upward trajectory for the stock market, as upcoming jobs and consumer inflation data could cause temporary downside volatility. If these reports, scheduled for release on December 8 and December 12, come in higher than consensus estimates, they could lead to increased bond yields and lower stock prices, as investors become concerned about the possibility of further rate hikes by the Federal Reserve. Despite potential short-term declines in the stock market due to the November jobs and inflation reports, Lee recommends that investors buy the dip, as incoming data continues to support a soft-landing scenario for the economy. He also notes that strong Black Friday sales indicate continued consumer resilience. The primary catalyst for a continued rise in stock prices next month is likely to be the Federal Reserve's FOMC meeting and press conference on December 13, where Fed Chairman Jerome Powell is expected to leave interest rates unchanged and a 'dovish shift' among Fed members is possible. Lee also highlights that investors have withdrawn $240 billion from equity mutual funds and ETFs this year, which could serve as buying power for those who missed out on the rally and decide to chase equities higher.

3 days ago
Todayq News
Todayq News
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The year 2023 turned out to be positive for the digital asset market and crypto-related equities. Whereas the biggest cryptocurrencies like Bitcoin (BTC) and Solana (SOL) grew by 130% and 490%, respectively on the year to date (YTD) basis, several key crypto linked equities have managed to replicate the same performance. Coinbase (COIN) surges by 281% YTD Coinbase Global Inc (NASDAQ: COIN), the US biggest crypto exchange by trading volume, has witnessed a remarkable YTD surge of 281%. This reflects the increasing interest and adoption of digital assets.  COIN shares saw a massive surge recently which helped it to reach their highest point in 18 months. Its price went on to hit $128 on November 28, 2023. However, the stock is still 60% below its all-time high of $343 recorded on November 12, 2021. Riot Blockchain (RIOT) Riot Platforms Inc (NASDAQ: RIOT), known for its focus on crypto mining and blockchain technologies saw a a substantial YTD growth of 274%. This signals strong market confidence. Riot was trading at an average price of $12.86 on November 28, 2023. Marathon Digital (MARA) Marathon Digital Holdings Inc (NASDAQ: MARA), a company engaged in Bitcoin mining and digital asset management also showed an impressive YTD growth of 260%. This aligns with the overall positive trend in the crypto sector. MARA price stood at $12.38 on November 28, 2023.  Galaxy Digital (GLXY) Galaxy Digital Holdings Ltd (TSE: GLXY), a diversified financial services firm dedicated to the digital asset and blockchain sector recorded a solid YTD growth of 114%. This has directly contributed to the overall success of crypto equities. Bitcoin on a roll Bitcoin (BTC) experienced a 3% surge in the last 24 hours, reclaiming the crucial $38,000 price level. The positive momentum followed a statement by Federal Reserve Governor Christopher Waller, expressing confidence in the current policy’s ability to control inflation. Waller, considered a hawkish figure, emphasized that potential rate cuts would not be about rescuing the economy but ensuring monetary policy remains appropriate amid declining inflation. The post Bitcoin, Solana surges, Crypto equities follow trend in 2023 appeared first on Todayq News.

1 day ago
CoinMarketCap
CoinMarketCap
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Ark Invest Sells $5.2M of Coinbase Shares as COIN Hits 18-Month Highs, Increases Robinhood Holdings Ark Invest, led by Cathie Wood, has sold a significant number of Coinbase shares, amounting to 43,956 COIN (equivalent to $5.3 million), as the cryptocurrency exchange's stock reached its highest level in 18 months. Simultaneously, Ark Invest acquired 143,063 shares of Robinhood, valued at around $1.2 million, for its Ark Fintech Innovation ETF, as indicated by the latest trade filing. Additionally, Ark Invest added 93,297 Robinhood shares ($780,000) to its ARK Next Generation Internet fund on Friday. Coinbase's stock ended Tuesday session at $128.27, marking a more than 74% gain over the past month and a year-to-date increase of 281%, reaching its highest level since April 2022. However, it is important to note that the stock is still 62% below its all-time high of $342.98 during the peak of the crypto bull market in November 2021. On the other hand, Robinhood's stock is currently trading at $8.64. Although it has experienced an over 4.85% decline this month, it is up 6.9% for the year. The shares are currently trading at around 20% above their all-time low of $7.19 but remain down by 84% from their peak of $55.01 in August 2021. Ark Invest's acquisition of Robinhood shares aligns with the trading app's plans to expand into the European Union and the United Kingdom, which were announced earlier this month. This move comes following disappointing Q3 results for the fintech firm. In addition, Ark Invest recently sold 94,624 shares of Grayscale Bitcoin Trust (GBTC), equivalent to $2.8 million, from its ARKW fund. These sales coincide with a narrowing discount to net asset value (NAV) for GBTC, currently at 8.78%, the lowest it has been in two years. Let us know what you loved about this article, what could be improved, or share any other feedback by filling out this short form.

1 day ago
Cointelegraph
Cointelegraph
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Bitfinex’s recently launched Tether (USDT) tokenized bond, hailed as a “new era for capital raises,” appears to have failed to garner the investment and interest the firm anticipated. Bitfinex Securities, a platform focused on listing tokenized real-world assets (RWA), announced its first tokenized bond in October, called ALT2611 Tokenized Bond, with the product going live on Nov. 15. However, after a two-week offer period, only $1.5 million of a $10 million target has been raised, according to the official website. The target of 100,000 ALT2611 worth 10 million USDT was set for two weeks after launch in the announcement, but it appears to have been extended by another fortnight as just 15,000 ALT2611, or 15% of the target has been reached so far. Screenshot from ALT2611 capital raise. Source: Bitfinex ALT2611 is a 36-month 10% coupon bond denominated in USDT and issued by Alternative, a Luxembourg-based securitization fund, managed by Mikro Kapital. Tokenized bonds are digital representations of traditional bonds issued on the blockchain, which provides several advantages over their traditional paper counterparts, such as liquidity, accessibility, security, transparency, and 24/7 trading. The minimum initial purchase size was 125,000 USDT, with secondary market trading in denominations of 100 USDT. Moreover, ALT2611 is not offered or made available to American citizens or persons present in the U.S. Crypto trader Novacula Occami commented, “Bitfinex’s first USDT bond issue is a flop,” before adding, “Sorry Paolo, USDT ain’t going to dominate capital markets. BitFinex Securities Kazakhstan isn’t keeping investment bankers up at night.” However, when it launched, Tether chief technology officer Paolo Ardoino labeled it as a “new era for capital raises” that would see USDT become the “underlying denomination asset of this new financial system.” Exciting!This is the first bond listed on Bitfinex Securities. A new era for capital raises through deep liquid markets and stock/fond markets has begun.Furthermore $USDt will become the underlying denomination asset of this new financial ecosystem.And yes. It leverages… https://t.co/ekXj3gY7Xj — Paolo Ardoino (@paoloardoino) October 25, 2023 The Bitfinex tokenized bond was issued on the Liquid Network, a high throughput Bitcoin sidechain. Cointelegraph reached out to Bitfinex and Tether for comment but did not receive an immediate response. In April, Bitfinex Securities received a Digital Asset Service Provider license in El Salvador, which has been looking into issuing its own Bitcoin bonds. Sovereign dollar bonds in the Central American country have been performing solidly, with a 70% return in 2023 as reported by Cointelegraph in August. Magazine: Can you trust crypto exchanges after the collapse of FTX?

1 day ago
企业级靓仔
企业级靓仔
followers

The Land of the Thunder Dragon—The Kingdom of Bhutan’s Crypto Mining Road The only neighboring country that does not have diplomatic relations with China is the Kingdom of Bhutan, a small country sandwiched between the Asian countries of China and India. Because it is located at the foothills of the Himalayas, lightning and thunder occur frequently. The Bhutanese believe that thunder is a dragon. It is shouting with infinite power. Therefore, the Bhutanese call their country the "Dragon Kingdom" and use the dragon as the main pattern of their national flag. The national anthem is also named "Thunder Dragon Kingdom". It’s hard to associate cryptocurrencies with Bhutan, once one of the world’s least developed countries. The source of the news that exposed this strange combination came from the discovery of the name of Bhutan’s state-owned commercial holding company (DHI) from the public list of bondholders after the collapse of two well-known crypto lending institutions, BlockFi and Celsius, during this year’s bear market. DHI said that amid this thunderstorm among lending institutions, because it has loaned out other assets for investment, all funds have been repaid. And as early as 2019, when Bitcoin was worth US$5,000, DHI had already started investing in Bitcoin mining. Therefore, DHI did not incur any losses. If all this is true, then Bhutan is actually the first state-level institution to directly own a cryptocurrency as a sovereign fund. Why does Bhutan, known as the last Himalayan kingdom, have such a deep connection with cryptocurrency? Tourism is one of the main sources of GDP in the Kingdom of Bhutan, and the Bhutanese government even stipulates that the minimum consumption per person per day upon entry is US$200-250. However, the Kingdom of Bhutan’s tourism industry alone cannot afford free medical care and free education for its citizens. The biggest feature of the Kingdom of Bhutan is its abundant water resources. The melting snow from the 6,000-meter snow-capped mountains in the north of Bhutan and the large amount of rainfall brought by the annual monsoon flow into the large and small rivers in Bhutan, making Bhutan extremely rich in water conservancy resources. The entire country seems to be located in a huge hydropower station. As early as 2016, Bhutan achieved 100% electricity coverage, which even neighboring India has not achieved. In 2021, Bhutan's national power generation capacity was 10.82 billion kilowatt hours, exports were 8.075 billion kilowatt hours, accounting for 15.6% of GDP, and hydropower profits accounted for 60% of the Bhutanese government revenue.The current survey shows that the water conservancy resources available in the entire territory of Bhutan are ten times those currently developed. Such huge potential and resource-rich clean energy has laid the foundation for Bhutan’s crypto mining. Hydropower resources are tantamount to a gold mine for Bitcoin miners. This neighboring country with rich hydropower resources is undoubtedly a good choice for Chinese encryption miners who have been hit in recent years. Bhutan’s trade data shows that between 2020 and 2021, chip imports from China and Hong Kong exceeded US$220 million. In 2022, the import volume even exceeded 15% of the Bhutanese government’s annual budget. These data may indicate that Chinese miners and Bhutan has been linked to the growth of crypto mining in recent years. BitDeer x Kingdom of Bhutan On April 14, 2023, Bitdeer Technologies, founded by Jihan Wu who left Bitmain, completed its merger with Blue Safari Group Acquisition Corp and was listed on Nasdaq in the United States with the stock code "BTDR". Not long after its listing, BitDeer announced its cooperation with Bhutan's DHI to establish a closed-end fund (the "Fund") with an estimated scale of up to US$500 million. The first phase of the fund construction project will raise 80 million US dollars, with a converted computing power value of approximately 20EH/s (accounting for approximately 5.2% of the global total computing power) The Bitdeer Q3 report in November 2023 shows that the GeDu data center in Bhutan provides Bitdeer with 100 megawatts of power generation, supports the operation of 30,000 mining machines, and will provide 3.3EH/S computing power for Bitdeer, and is continuing to expand. Thanks to the launch of the GeDu data center in the Kingdom of Bhutan, the number of Bitdeer's own ASIC mining machines has increased to 92,000. However, due to the seasonal factors of hydropower generation in the Kingdom of Bhutan, during the dry winter, even Bhutan itself may need to import energy from neighboring countries. Therefore, an agreement was reached between Bitdeer and Bhutan DHI that domestic demand will be given priority during the winter. , when power generation declines, mining operations may be shut down. The Kingdom of Bhutan’s exploration of the cryptocurrency market is also partly due to the Covid-19 pandemic that caused a major blow to the Kingdom’s tourism industry in the previous two years. Not only that, young people and professionals from Bhutan are immigrating to countries such as Australia and Canada at an unprecedented rate. The stagnation of economic growth has forced the Kingdom of Bhutan to seek new growth points in the field of digital economy. The current results show that the Kingdom of Bhutan’s bet on cryptocurrency has achieved initial success, bringing income to the country while also providing local benefits. Citizens create jobs. We have reason to believe that more and more underdeveloped countries may benefit from this decentralized cryptocurrency-Bitcoin. In a sense, these signs prove that the development of Bitcoin is galloping in the direction Satoshi Nakamoto hoped. Some of the above data and content come from Bitdeer public reports and Forbes reports $BTC $BTDR

1 day ago
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Bitcoin mining company Canaan is looking for new funding after experiencing a decline in revenue and profits. In its Q3 2023 earnings report, the company announced plans to sell $148 million in equity through an at-the-market offering. Canaan also recently agreed to issue up to 125,000 preferred stock at $1,000 each to an undisclosed institutional investor for a total of $125 million. The decline in revenue is attributed to a decrease in the number of Bitcoin mined and a fall in the number of ASIC mining rigs sold, as well as increased pricing competition and a softening in purchasing power. Canaan expects its Q4 revenue to remain unchanged due to challenging market conditions. #BinanceJapan

2 days ago

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