Crypto Power - Shilling

2024-03-14 22:24:08 Coinbase sells $1 billion bond as crypto and the company's stock prices soar

Seizing on a chance to get debt while its stock price is near its 26-month high in the wake of a crypto rally, Coinbase announced plans Tuesday to sell $1 billion in debt to institutional investors.

This move aims to shore up funds to repay its existing debts and cover its corporate costs. The sale of the notes, which would mature in 2030, could add up to $1 billion to the company's liabilities, bringing its debt to $4 billion. Open / Comment

2024-03-11 13:15:11 Moonbirds Co-founder Kevin Rose Dumps $1.3M NFT Amid Fresh Acquisition

Kevin Rose, the co-founder of the nonfungible token (NFT) collection Moonbirds, has initiated a significant sell-off of his prized NFT collection.

Prominent Chinese reporter Colin Wu brought attention to Rose’s massive liquidation moves in a recent post on X.

Colin Wu, citing data from NFTScan, disclosed that over the past 16 days, Rose has successfully unloaded 328.92 ETH worth of digital assets.

Considering the prevailing market price of Ethereum at $3,960, Rose’s sale amounts to a staggering monetary value exceeding $1.3 million. Open / Comment

2024-03-07 13:00:01 Uniswap Foundation token rewards proposal passes temperature check vote

The Uniswap Foundation's proposed changes to the governance of the popular decentralized exchange Uniswap, including altering its fee mechanism to reward users who delegate and stake their tokens on the platform, has unanimously passed a temperature check vote.

The temperature check vote — a snapshot poll to gauge initial Uniswap community sentiment on moving ahead with the proposal — began on March 1 and passed with 100% of delegates in favor after ending today at 1:30 p.m. ET. Open / Comment

2024-03-04 12:24:56 Spot Bitcoin ETFs May Offer Stability Amidst Unsustainable Funding Rates

The ongoing rally is challenging market expectations regarding the impact of spot Bitcoin ETF inflows, which were speculated to propel the leading asset to break all-time highs by the end of March. The rally is primarily driven by demand, evidenced by spot ETF volumes surpassing $3.2 billion and net inflows totaling $520 million.

The rapid price increase has triggered short liquidations and sparked a speculative buying frenzy, causing funding rates to soar on native exchanges and even longer-end futures trading up to more than 16% over the spot. Open / Comment

2024-02-29 18:35:40 Singularity attracts $2.2 million to develop KYC-compliant DeFi platform for institutions

Singularity Network, a protocol catering to institutional investors seeking confidential access to DeFi, raised $2.2 million in its second funding round that concluded in late 2023.

The funding round was spearheaded by Gumi Crypto Capitals, with participation from notable investors like Eureka Partners and Nomura’s digital asset subsidiary, Laser Digital.

Other participants in this round included Digital Assets Capital Management, Gandel Invest, and Apollo Crypto—these firms had backed Singularity during its seed round. Open / Comment

2024-02-27 15:22:44 BitForex alleged $2.5 billion volume flatlines as exchange abruptly goes offline

Hong Kong-based crypto exchange BitForex appears to have gone entirely dark following the suspension of its website and trading application on Feb 23.

Users have been unable to initiate withdrawals or access the exchange for several days, which boasted over $2 billion in trading volume as recently as Feb 24. Data from CoinGecko shows trading volume decreasing from $2.5 billion to $1 billion between Feb 22 and Feb 24 before flatlining. Open / Comment

2024-02-24 02:41:07 Fundstrat’s Tom Lee believes Bitcoin will surge 200% to $150k this year and $500k in 5 years

Fundstrat Global Advisors co-founder Tom Lee believes Bitcoin is poised for a 200% growth over the coming months, taking its value to $150,000 per coin.

Lee made the statement during an appearance on CNBC’s Squawk Box on Feb. 21, where he discussed the various factors influencing Bitcoin’s value, including the role of ETFs, the upcoming Bitcoin halving, and shifts in monetary policy. Lee also confirmed previous predictions and said he expects Bitcoin to reach $500,000 per coin over the next five years. Open / Comment

2024-02-21 11:13:27 Sui Surmounts Cardano, Aptos in TVL as DeFi Spurt Escalates

The newcomer Sui (SUI) Layer-1 blockchain is making waves in the decentralized finance field with a huge tide of inflows since the beginning of 2024.

On New Year’s Day, SUI’s total value locked (TVL) was capped at $211 million. In a month and a half, the capital locked on SUI’s DeFi ecosystem nearly tripled, scorching past $600 million at the time of this publication. Open / Comment

2024-02-18 08:32:02 Sushi plans to launch decentralized derivatives exchange Susa on Layer N

Decentralized finance firm Sushi intends to launch a decentralized derivatives platform called Susa on Layer N, an Ethereum Layer 2 attempting to replicate certain aspects of centralization for decentralized platforms.

Susa builders will be able to create custom applications on top of the exchange, spanning from smart contract applications to full-fledged rollups, according to a statement. Open / Comment

2024-02-16 00:16:05 Empire State Building Unveils NFT-Powered Ambassador Program

The globally renowned Empire State Building has introduced a groundbreaking NFT-powered Ambassador Program in collaboration with web3 loyalty platform Uptop and web3

wallet provider Magic. The program is centered around the Empire State Building Observatory Experience, owned and operated by the Empire State Realty Trust.

It aims to seamlessly offer members complimentary experiences and digital collectibles in a visitor-friendly manner without the need for prior web3 expertise. Open / Comment