Monthly Archives: July 2020

Bulls Control Bitcoin Price Even as Funding Rates Reach Record Highs

As Bitcoin rallied through $10K, derivatives markets started to show signs of excessive leverage but the market remains tilted toward bulls. Bitcoin (BTC) price finally woke up and surged to a new 2020 high but as the markets surged past $10,000, some traders seem to have opened excessively leveraged long positions.  This effect became more noticeable as the funding rate for perpetual contracts reached the second-highest level this year at 12.4% per month. Funding alone shouldn’t be considered a red flag, especially in short-term periods. The problem […]

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Coinbase Sees More Institutional Investors Buying Bitcoin in H1

Coinbase says more institutional investors are now using its platform to build direct positions in the cryptocurrency market. Crypto fund managers are now getting more backing from institutional investors that see the crypto market as an alternative investment strategy. In a report, the exchange says it observed a “noticeable uptick in institutional business’s growth” in the first half of the year. According to Coinbase, the “greater visibility of reputable investors warming up to digital assets” is also helping to fuel growing “confidence among this community.” In May, […]

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AMFEIX Threatens Users Who Share Coverage That Criticizes the Company

The purported investment fund is exhibiting some shady behavior. Last week Cointelegraph published a story about investors having difficulty getting their money back from a crypto fund called AMFEIX, which promised high-yield profits for investors who sent them Bitcoin (BTC). Our story described more than 500 pending withdrawals from users trying to get their money back, and AMFEIX’s unsatisfactory communication with those users. The company addressed its users via its official Telegram channel after the story was published, suggesting that the withdrawal delays were due to technical […]

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Facebook’s Zuckerberg and Telegram’s Durov Posture as Defenders Against Foreign Tech Invasions

The leaders of two tech giants are using nationalism to win back the governments of their respective home countries after stumbling over crypto launches. Two icons of tech — one American, one Russian — are hard at work trying to win back the jilted governments of their home countries by stirring up concerns over foreign competitors.  When nationalism meets tech In a hearing tomorrow before the congressional Antitrust Subcommittee, Mark Zuckerberg plans to portray Facebook as the American champion to meet Chinese tech. Meanwhile, Pavel Durov has […]

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How Grayscale Investments Sells Bitcoin to Financial Advisors

At a webinar targeting financial advisors, Grayscale’s managing director preached the value of Bitcoin and warned against physical representations of the asset. In a webinar hosted by InvestmentNews, Grayscale Investments’ managing director, Michael Sonnenshein, and financial consultant, Tyrone Ross Jr., educated financial advisors about the benefits of crypto investments. A slide from Sonnenshein’s presentation. Grayscale offers ten crypto related investment products with its Bitcoin Trust, or GBTC, being by far the largest. Currently, it holds close to 400,000 BTC, though lately, the demand for the product has […]

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Mainstream People Coming to Bitcoin, Digital Assets Data CEO Says

Digital Assets Data CEO Mike Alfred explains increased Bitcoin interest from a number of parties. Mike Alfred, CEO of analytics firm Digital Assets Data, described increased Bitcoin (BTC) enthusiasm from the public amid flying prices. “We are seeing more signs of increased institutional interest,â€� Alfred told Cointelegraph of Bitcoin on July 28 — the day after bitcoin rose more than $1,000 in a 24-hour period. Bitcoin broke upward Crypto’s pioneer asset had a standout day on July 27, rising from $9,930 to $11,400 within a single daily […]

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North Korea’s Crypto Extortion Efforts Have Expanded Considerably in 2020

A new ransomware from North Korea targets major companies. A group of hackers associated with the North Korean regime have kept their crypto extortion efforts alive in 2020. A group of North Korean hackers operating under the name “Lazarusâ€� targeted several crypto exchanges last year, according to a report published by Chainalysis. One of the attacks involved the creation of a fake trading bot which was offered to employees of the DragonEx exchange. Findings show that in March 2019, the hackers stole approximately $7 million in various […]

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Regulatory Clarity Leads to Surge in Institutional Crypto Investors

Ciara Sun, head of global markets at Huobi Group says more institutional crypto investors are entering the market. Ciara Sun, head of global markets at Huobi Group, took part in a Cointelegraph China Great Bay Area International Blockchain Week pre-event interview on July 27. She stressed that although security and lack of infrastructure services might be the biggest hurdle for the crypto industry, more clarity in regulation across the globe has led to a great surge in institutional crypto investors. Systemic risks in crypto market infrastructure The […]

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Tether Exchange Inflow Reached 8-Month High as Bitcoin Rallied to $11K

As Bitcoin price surged above $10K, USDT exchange inflows reached an 8-month high. Tether (USDT) exchange inflow has recently spiked to its highest level in the last 8 months, according to data from on-chain data provider Glassnode. Exchange inflows for the stablecoin reached a 2020 high yesterday as Bitcoin (BTC) soared to $10,270, although BTC has since continued on its rally, currently sitting at $11,000. USDT Exchange inflows. Source: Glassnode While research firms have found that there is an inverse correlation between the USDT held on exchanges […]

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Swiss Exchange SIX Lists Actively Managed Bitcoin Exchange-Traded Product

Switzerland’s principal stock exchange SIX Swiss Exchange is listing a new bitcoin exchange-traded product (ETP). The BTCA index, otherwise known as the “Bitcoin Capital Active ETP (BTCA),” is different from other crypto ETPs exchanged on SIX because it’s an “actively managed” cryptocurrency ETP. SIX Swiss Exchange, based in Zurich is one Switzerland’s most popular stock trading platforms and the exchange allows investors to obtain securities like stock options, derivatives, and Swiss government bonds. SIX has been offering crypto infused exchange-traded products (ETP) for quite some time now. […]

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