DeFi & Ethereum News

2024-01-27 11:20:15 Coinbase Upgraded by Oppenheimer as Crypto Exchange Is 'Stronger Than Many People Realize'

Shares of Coinbase (COIN) rose as much as 6% on Friday after investment bank Oppenheimer raised the rating of the stock to “outperform” from “perform” with a price target of $160 per share, arguing that the company is strong and its management team is tough. "The stock was under extreme scrutiny during crypto winter. While many peers went under, COIN is still standing and fighting for its businesses and the industry.

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2024-01-26 19:20:23 Celsius billion-dollar Ethereum shift stirs speculation on creditor payback plans

Bankrupt crypto lending platform Celsius has shifted 459,561 Ethereum (ETH), valued at over $1 billion, to centralized exchanges, including Coinbase, Paxos, and FalconX, in the past 24 hours, per on-chain data. In detail, more than 300,000 ETH, equivalent to $673 million, was sent to Coinbase Prime. The firm also moved 146,507 ETH, valued at around $323.3 million, to Paxos, and another 7,800 ETH, worth $17.2 million, were transferred to FalconX.

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https://t.me/DeFi_Ethereum Open / Comment

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2024-01-26 09:05:12 Bitcoin Mining Rig Manufacturer Canaan Raises $50 Million Through Preferred Shares Sale

In a recent disclosure to the U.S. Securities and Exchange Commission (SEC), Canaan, a publicly traded manufacturer of bitcoin mining rigs, announced it has secured $50 million through the sale of preferred shares. This follows a successful acquisition of $25 million in a similar preferred share sale conducted by Canaan last year.

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https://t.me/DeFi_Ethereum Open / Comment

2024-01-25 19:15:31 The market is absorbing enormous selling pressure with little movement

The volatility caused by the launch of spot Bitcoin ETFs in the U.S. has wiped over $115 billion off Bitcoin’s market cap. There has been a significant increase in realized losses in the week following the ETF launch, with short-term holders bearing the brunt of these losses. Significant outflows from Grayscale’s GBTC.

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https://t.me/DeFi_Ethereum Open / Comment

2024-01-25 09:15:00 Bitwise Leads the Way as First US Bitcoin ETF to Publicly Disclose Wallet Address

On Wednesday, Jan. 24, 2024, Bitwise, a leading digital asset manager, made a groundbreaking announcement as the first U.S. spot bitcoin exchange-traded fund (ETF) to reveal its bitcoin wallet address. Emphasizing its commitment to transparency, Bitwise stated, “proud to walk the walk with BITB,” and affirmed that “onchain transparency is core to Bitcoin’s ethos.”

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https://t.me/DeFi_Ethereum Open / Comment

2024-01-24 18:30:00 Bitcoin ETFs to Likely Divert Users and Trading Volumes Away from CEXs, Says Anthony Bevan

Recently approved spot bitcoin exchange-traded funds (ETFs) are likely to divert investor interest and trading volume away from centralized exchanges (CEXs), according to Anthony Bevan, CEO of the wealth management firm Blockguard. Bevan, a full-time trader and investor, added that spot bitcoin ETFs are likely to attract investors who are keen on “more regulated and mainstream investment avenues.”

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2024-01-24 08:25:00 IRS adds cryptocurrency income tax question to four more tax forms

The IRS on Jan. 22 reminded all taxpayers to answer a question about digital assets and report all digital asset-related income. The IRS defined digital assets as including convertible virtual currency and cryptocurrency, stablecoins, and non-fungible tokens (NFTs). The latest update notably expands the number of forms that include the question. Originally, the question appeared on three variants of the Form 1040 income tax return aimed at individuals, seniors, and non-resident aliens.

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2024-01-23 19:45:00 TrueUSD’s slip from $1 peg deepens amid broader sell-off as FDUSD thrives

TrueUSD (TUSD) deviation from its $1 peg has widened under the current red market situation. Data from CryptoSlate shows that the stablecoin dipped as low as $0.9778 in the past 24 hours, coinciding with substantial sell-offs seen in the major cryptocurrencies like Bitcoin and Ethereum. On Jan. 16, CryptoSlate highlighted increased volatility in TUSD’s value as holders opted to liquidate their assets in favor of competing stablecoins like Tether’s USDT.

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https://t.me/DeFi_Ethereum Open / Comment