Institutional capital is increasingly steering the direction of the crypto market, executives from Bitwise Asset Management and Aspen Digital told Decrypt in separate interviews during the Token2049 conference in Singapore last week. Hong Kim, Chief Technology Officer and co-founder of Bitwise, said the investor base for Bitcoin has shifted from retail traders to long-term allocators.
GraniteShares is planning to offer some risky bets, proposing 3X Leveraged ETFs based on XRP, Solana, Ethereum, and Bitcoin. The firm will issue short and long positions for all these products. XRP in particular has already demonstrated a healthy market for this sort of trading. However, the current crop of offerings largely centers on 2X
The Bank of England (BOE) appears to be softening its stance on proposed limits to corporate stablecoin holdings, with plans to introduce exemptions for certain firms that may need to maintain larger reserves of fiat-pegged assets, according to a Bloomberg report published Tuesday. Citing people familiar with the discussions, Bloomberg reported that the BOE’s reconsideration
High-performance computing firm IREN (IREN) stock slipped 6% on Tuesday post-market after announcing a $875 million convertible debt offering. The offering may increase to $1 billion if initial purchasers take up an option to buy an additional $125 million, the press release said. The notes will be unsecured and give holders the right to convert
Oracle’s stock price tanked after a new report on its profit margins, and there are serious possible implications for AI. Crypto’s market cap also declined afterward, but it’s hard to predict the full fallout. LLM developers and various AI infrastructure interests are currently engaged in a huge wave of circular financing, but one collapse could
Consob has introduced new measures to simplify the process of listing investment funds in Italy. The reforms aim to make the Italian financial market more competitive and bring it in line with regulations in other European Union countries. Although the new rules primarily address fund issuers, they may indirectly benefit retail traders. By simplifying listings
U.S. stocks opened slightly higher on Tuesday, and gold spiked to a record $4,000 as Wall Street looked to maintain the momentum that pushed the major indexes to new record highs. Summary Dow rose slightly as stocks opened higher on Tuesday. Gold prices hit a record $4,000 for the first tim. Wall Street is upbeat
Zac Prince of BlockFi bankruptcy fame has been named as managing director of Galaxy Digital’s new 8% APY yield product. While slowly leading BlockFi into bankruptcy, Prince advertised interest rates on Circle’s USD stablecoin of 7.5%. Now as head of Galaxy One, he’s advertising 8% APY on USD. With funds “generated by Galaxy’s institutional lending