The uncertainty about the next directional move may have tempted short-term traders to book profits. CoinShares said in its latest weekly report that Bitcoin (BTC) investment products witnessed $111 million in outflows, the largest weekly outflows since March.Continue Reading on Coin Telegraph More
While supporters argue that ETFs are tax-efficient, easy to trade and cheap, BlackRock’s approach is arguably misguided. It is important to keep in mind that ETFs do not have the same focus or goals as Bitcoin (BTC).Continue Reading on Coin Telegraph More
A man in China’s Jiangsu province, identified as Mr. Xu, appears to be out of luck after a court ruled that his 341 Bitcoin loan ($9.9 million) to counterparty Mr. Lin is not protected by law according to local news reports on August 3.Continue Reading on Coin Telegraph More
In an Aug. 7 interview with Bloomberg, Wood predicted the SEC would approve “more than one [ETF] at once” if it moves forward with any application currently under consideration. ARK Investment Management sent in one of the most recent spot Bitcoin (BTC) ETF applications in June after amending the submission to include a surveillance-sharing agreement.Continue Reading on Coin Telegraph More
FTX’s Official Committee of Unsecured Creditors (UCC) said despite its repeated requests and previous promises from the team, it “did not have a single call or meeting” with FTX to discuss the plan. The UCC warned it would put forward its own plan for FTX customers to vote on if it continued to be ignored.Continue Reading on Coin Telegraph More
The Steadefi team posted a message to Twitter stating: “NOTICE: Steadefi has been exploited and all funds are currently at risk.” They also confirmed that an on-chain message has been sent to address 0x9cf71F2ff126B9743319B60d2D873F0E508810dc on Ethereum in an attempt to negotiate with the attacker. Blockchain data reveals that a number of large inflows came into this address on the Avalanche chain, beginning at 4:41 p.m. UTC. Continue Reading on Coin Telegraph More
Although it is difficult to predict the direction of the breakout with certainty, some analysts point to the Bitcoin whales increasing their exposure as a positive sign. On-chain analyst Cole Garner believes the bull move could begin in September when the summer seasonality kicks in and the shakeout happens.Continue Reading on Coin Telegraph More
Cryptocurrency exchange Huobi dismissed the ongoing rumors against its insolvency, which was fueled by total value locked (TVL) data that briefly showed $64 million in outflows between Aug. 5-6 amid ongoing investigations from Chinese authorities.Continue Reading on Coin Telegraph More
