Cryptocurrency Analysis and News Portal
Like it or not, for crypto investors, the U.S. Federal Reserve policy on interest rate hikes and high inflation is the single most relevant measure for gauging demand for risk assets. By increasing the cost of capital, the Fed boosts the profitability of fixed-income instruments, but this is detrimental to
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On March 4, 2023, cryptocurrency exchange Bybit announced that it had suspended U.S. dollar deposits via bank transfer. Bybit cited “outages” from its partner as the reason for the suspension of USD deposits via bank transfers and the SWIFT network. Bybit Suspends USD Deposits, Wire Transfer Withdrawals Open Until March 10 The
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Our weekly roundup of news from East Asia curates the industry’s most important developments. OKX airdrop after token trading fiasco On Mar. 1, cryptocurrency exchange OKX announced that it would airdrop 3,014,381 Tether (USDT) to users who suffered losses as
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English luxury automaker Aston Martin recently saw its shares surge following its optimistic 2023 forecast. The shares of English luxury automobile manufacturer Aston Martin (LON: AML) have surged 14% on the company’s 2023 profitability forecast. Aston Martin forecasts better profitability this year despite increased pretax losses in 2022 due to
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Wallbit, a crypto-enabled neobank, announced it would stop serving users in Venezuela after its banking partner in the U.S. called on it to do so. The platform announced this move was the direct result of the economic sanctions that the country is currently facing, and that Venezuelans outside the country
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Analysts at J.P. Morgan cut their price target for Coinbase (COIN) stock from $60 to $52 for the year ending in December, a report from the bank on Friday showed. Source
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Localbitcoins, the Helsinki, Finland-based bitcoin exchange founded in 2012, is closing operations after over a decade of service. The company’s operators attribute the shutdown to the “ongoing crypto-winter,” which has left them unable to continue offering their bitcoin trading services. The Challenges Faced by Localbitcoins and its Ultimate Demise in the
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Crypto mining firm Riot Platforms — formerly Riot Blockchain — reported that 17,040 rigs deployed at its operations in Texas were offline due to “severe winter weather” in the state.According to a Feb. 6 announcement, Riot reported two of the buildings at its Whinstone facility in Rockdale, Texas were damaged
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The cost of holding a bullish long position in perpetual futures tied to bitcoin has jumped to the highest since the dizzy bull market days of late 2021. Source
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Russian banks may be the main losers from the introduction of a digital ruble while retailers will save on acquiring fees, analysts have predicted. The benefits for consumers using the new digital currency are not that obvious as they may not be paid any interest or cashback. Launch of Russia’s Digital
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