Bitwise Asset Management has cut 14% of its workforce, reducing its global team to about 155 employees as the crypto asset manager operates through a prolonged market downturn. According to recent media reporting Bitwise CEO Hunter Horsley confirmed the layoffs in an emailed statement, saying the staff reduction was completed last week and leaves the
Chicago Fed President Austan Goolsbee has identified inflation above the Federal Reserve’s 2% target as the main U.S. economic problem while officials debate whether to raise rates from 3.50%–3.75%. Why Goolsbee sees inflation as the main challenge Wired released Goolsbee’s interview on Aug. 11 after recording the discussion on June 22, with the Chicago Fed
Although mainstream media covered insiders’ massive unlock of 911.5 million SpaceX shares worth $101 billion on August 6, very few people realize that an additional unlock on that date failed because SpaceX’s stock price had crashed so badly. That second, bonus tranche of 455.8 million shares required SpaceX to close at or above $175.50 per
CoreWeave (CRWV) shares surged 16% in pre-market trading on Wednesday after the company delivered stronger growth and raised its full-year outlook, lifting the broader neocloud market. The AI infrastructure provider said second-quarter revenue more than doubled to $2.58 billion, narrowly beating expectations, while its net loss of $626 million was smaller than analysts projected. The
In the cryptocurrency market, Bitcoin and Ethereum are trading in a narrow range ahead of the US Consumer Price Index (CPI) data release, while options traders are increasing their positions for a potential upward breakout. The market expects the inflation data to be decisive in Bitcoin’s exit from its current narrow trading range. Bitcoin has
Metaplanet, a Japanese company that places Bitcoin at the center of its institutional treasury strategy, has transferred a significant amount of $BTC. According to information reported by the on-chain data analytics platform Lookonchain, the company sent a total of 3,881 Bitcoin to external wallets in the last three hours. The total value of the transferred
Matthew Sigel, Head of Digital Asset Research at VanEck, made important assessments on the current state of the cryptocurrency market, AI infrastructure investments, and regulatory uncertainties in an appearance on The Rollup. Highlighting the prevailing stagnation in the market, Sigel stated that he expects Bitcoin and the overall crypto market to see bottom levels in
The July U.S. consumer price index hits the wires Wednesday morning, and it is shaping up as a classic binary event for bitcoin and other cryptocurrencies. A hotter-than-expected number would strengthen the case for a Federal Reserve rate hike in September, push Treasury yields higher, and keep pressure on risk assets. A softer print would
Hashdex will stop trading its DEFI Bitcoin ETF after the Aug. 17 close, giving investors a final window to exit before the fund is liquidated. According to an SEC filing, investors who remain after trading ends will receive cash from the liquidation of its Bitcoin holdings by Aug. 28. The eventual payout will reflect the