Grayscale ETF ruling boosts BTC: A U.S.Court of Appeals ruled in favor of Grayscale in their lawsuit against the SEC, which challenged the agency’s denial of an application to convert Grayscale Bitcoin Trust (GBTC) to an ETF. GBTC is currently the largest Bitcoin fund with over $16.3 billion USD in AUM. The ruling led to higher prices for BTC. Powell...
Crypto prices tumble as negative news and liquidations hit market: Bitcoin moved sharply lower this week, dipping well below recent ranges, nearly hitting FWB:25K USD on Thursday before somewhat bouncing back. The downward price action followed a build up of negative news, including a report of large sales of BTC by SpaceX, the bankruptcy of Chinese...
What Happened This Week? Bitcoin $BTC and ether $ETH hit 2023 highs this week, as the Fed raised interest rates but signaled a coming pause given continued banking woes. Takeaways: Banking woes continued as UBS bought rival Swiss bank Credit Suisse to stem a brewing crisis. In a coordinated action, the Federal Reserve and other central banks increased...
This graph shows the ranking of stable coins, according to the Amount of Assets Held by Whales (some stable coins don't have this information here). Since May 02, 2022, BUSD has surpassed USDC in this indicator. USDT remains relatively stable, and DAI was below $2 billion. The PEG of these stable coins can be seen in this other analysis:
According to a lot of research groups, Bitfinex and tether/USDT have reportedly been “partners in crime” in a lot of malicious activity that has surrounded either the exchange or the stable coin. The ugly relationship seems to be surfacing again and this is something that I usually ignore given I don’t actually hold USDT/tether and have accepted that at some...