Tesla sent shockwaves across the crypto world late Wednesday after revealing that it had reduced its bitcoin position by 75% in Q2. Elon Musk explained that the sale was due to liquidity concerns triggered by the lockdowns in China.  Nonetheless, Tron blockchain creator Justin Sun spotted a much-needed silver lining to glean from Tesla’s shocking capitulation. Why Tesla’s Sell-Off Is […]

Cryptocurrencies retreated early on Thursday, with market capitalization falling to $1.02 trillion, versus $1.08 trillion, the day before. Bitcoin slumped more than 4 percent, amidst reports that Tesla liquidated 75 percent of its bitcoin holdings at a 9 percent loss in the second quarter of 2022. Tesla CEO Elon Musk attributed the sale to the Covid lockdown in China and […]

Stock markets remained muted ahead of the ECB’s first expected rate hike in more than a decade. A more than expected rise in gasoline inventories in the U.S. dampened crude oil prices. Asian stock markets traded mixed. The Wall Street Futures are trading in negative territory. European stocks are also trading in the red zone. The Dollar Index remained firm. […]

Cryptocurrencies extended gains climbing more than 3 percent overnight to a market cap of $1.08 trillion. The gains are despite lackluster trends in Wall Street as well as the Dollar’s strength reflected in a higher Dollar Index. Market leader Bitcoin’s overnight gains stood at 7.4 percent, allowing the lead cryptocurrency to trade at $23,801.92. BTC ranged between a high of […]

(Adds Data) Here is a snapshot of the world markets at this hour across stocks, currencies, bonds, commodities and cryptocurrencies. Asian stock markets moved mixed. The Wall Street Futures are trading in positive territory. European stocks are trading near the flatline amidst renewed concerns on the macro-economic scenario and ahead of the monetary policy review by the ECB. The Dollar […]

Summary: Genesis Trading allegedly lent Three Arrows Capital $2.36 billion. Estimates had earlier put Genesis Trading’s losses due to exposure to Three Arrows Capital in the ‘hundreds of millions.’ Three Arrows Capital’s bankruptcy claims have halted Genesis Trading’s attempts to recover the funds from Three Arrows Capital. The crypto lending firm Genesis Trading allegedly lent the embattled crypto hedge fund […]

Shares of Fuwei Films (Holdings) Co., Ltd. (FFHL) are rising more than 7% Monday morning after the company announced its decision to merge with video-technology service provider Baijiayun Limited. Baijiayun will merge with a wholly-owned subsidiary of FFHL, after which Baijiayun will be the surviving entity, the company said. The issued and outstanding share capital of Baijiayun will be cancelled […]

Summary: Bitcoin has gained value from roughly $21.3k during the weekly close to a local high of $22.5k. Bitcoin is trading directly below the critical 200-week moving average, which has marked market bottoms in past bear markets. BTC gaining in the crypto markets comes at a time when the United States posted its highest inflation in 40 years at 9.1%. […]

On Monday (July 18), Bitcoin is continuing the rally it started five days ago, with the price surging above the $22,000 level earlier today. Meanwhile, a well-known Bitcoin advocate and developer seems to have just arrived in El Salvador to teach his Bitcoin programming course. According to data by TradingView, on crypto exchange Bitstamp, on July 13, $BTC was trading […]