While bitcoin was cratering over the weekend, institutions were buying

Bitcoin is recouping losses clocked in over the weekend, which isn’t a surprise to market participants servicing institutional investors. At last check, bitcoin was trading up more than 9% at more than $37,000. That’s a far cry from the levels over the weekend, when a wave of liquidations across off-shore trading venues sent the market […]

Read More

Bitcoin hit ‘bubble territory’ after $20,000, says billionaire Jeffrey Gundlach

DoubleLine Capital’s CEO and co-founder Jeffrey “Bond King” Gundlach said Bitcoin has been in “bubble territory” ever since it broke $20,000.   “Bitcoin, to me, is now in bubble territory based on how it’s been acting. The people that point out that it has a terrific supply-demand dynamic if indeed institutions get involved, they’re right about […]

Read More

DeFi project offers new way to trade the entire $1 trillion crypto market

A decentralized finance (DeFi) project is gearing up to debut a token that aims to allow users to capture the value of the entire $1 trillion cryptocurrency market.  Led by Ethereum 2.0 developer and Prysmatic Labs founder Preston Van Loon and Joe Sticco, Cryptex is set to launch the mainnet of its token TCAP this […]

Read More

Intercontinental Exchange crypto venture Bakkt nears SPAC deal: report

Digital asset firm Bakkt is looking to tap into the public markets through a SPAC deal, according to a Bloomberg report.  Bakkt, a venture by Intercontinental Exchange, is in advanced stage talks to go public through a merger with blank-check firm VPC Impact Acquisition Holdings, according to Bloomberg’s sources. The transaction, which could be announced […]

Read More

The UK’s ban on crypto derivatives is set to go into effect on Wednesday

A ban on the sale of crypto derivatives and exchange-traded notes (ETNs) is set to come into force in the U.K. on Wednesday, January 6. Announced by the Financial Conduct Authority in October after a long and heated period of consultation, the ban forbids the sale, marketing and distribution of CFDs, options, futures and ETNs […]

Read More

Shenzhen gives away $3 million worth-of digital yuan in third CBDC test

The Chinese city of Shenzhen is giving away another 20 million digital yuan, worth $3 million, as part of the ongoing real-life test of China’s central bank digital currency. The Shenzhen government announced on the New Year’s Eve that it will give away 100,000 red packets via a lottery to local residents with each packet […]

Read More

2021 predictions from The Block’s analysts

Disclaimer: We make these predictions for fun to look back on in a year. Sometimes they come to pass, and sometimes they will be wildly inaccurate. The content is for informational purposes only, you should not construe any such information or other material as legal, tax, investment, financial, or other advice. Igor Igamberdiev  The launch […]

Read More

Coinbase faces class action lawsuit in California over XRP sale

A new lawsuit in California federal court alleges that Coinbase violated the state’s unfair competition laws by making a commission from the sale of Ripple’s XRP. Ripple was recently sued by the Securities and Exchange Commission (SEC) for allegedly issuing XRP as an unregistered securities offering. The new class-action suit was filed by Thomas Sandoval, […]

Read More

Coinbase says it will suspend XRP trading next month

Coinbase announced Monday that it will suspend trading in XRP globally next month, nearly a week after the U.S. Securities and Exchange Commission hit Ripple with a lawsuit. The firm announced the move in a blog post shared with The Block.  Coinbase said that XRP trading will transition to limit-only beginning immediately on December 28 […]

Read More

Crypto market maker B2C2 halts XRP trading with US counterparties

In the wake of the Securities and Exchange Commission’s lawsuit against Ripple, crypto market-making firm B2C2 halted the trading of XRP with U.S.-based counterparties on Thursday, a representative of the firm confirmed to The Block.  As one of the largest market-making firms in the crypto market, B2C2 operates in the U.S. through B2C2 USA. The […]

Read More