Day: April 16, 2021

Pendle Finance raises $3.5M to launch secondary market for DeFi yields

admin

Pendle Finance, a DeFi protocol that allows users to tokenize and sell future yields, has completed a private investment round worth $3.5 million to power the next phase of its platform’s evolution.  The private investment round included contributions from several companies, including CMS, DeFi Alliance, Lemniscap, Hashkey Capital, imToken and Spartan Group, among others. The team is being advised by industry leaders from such projects as Kyber Network and KeeperDAO. Pendle’s co-founder, referred to as TN, said his platform allows users to trade the “ever-increasing yield” offered by DeFi products…

Dogecoin whales move $12B in one day — twice as much as Ether

admin

Dogecoin’s (DOGE) dramatic surge up the market capitalization rankings coincided with the reawakening of DOGE whales, as the blockchain’s metrics surged to new heights in the past 24 hours. Over $12 billion worth of DOGE was transferred across the blockchain in the past day, according to data from BitInfoCharts. To put that number into context, the Ethereum blockchain processed just $6 billion worth of Ether (ETH) on the same day. Ethereum is the world’s second-largest crypto project by market cap, and the most actively developed blockchain in the world —…

Cathie Woods’ Ark buys a further $110M worth of Coinbase shares

admin

Three exchange-traded funds, or ETFs, offered by Cathie Wood’s Ark Invest, including the flagship Ark Innovation ETF, all added further shares in Coinbase Global Inc. (COIN) to their positions on Thursday, April 15. According to a report from Reuters, the Ark Innovation ETF, Ark Next Generation Internet ETF, and Ark Fintech Innovation ETF purchased a combined total of 341,186 shares, valued at $110 million at the close of trading on April 15, with each share valued at $322.75. The previous day, the three ARK funds had together accumulated 749,205 COIN shares,…

Bitcoin Crashes after Accident in Xinjiang, China Halts Mining Operation

admin

Key Takeaways A gas explosion and flooding at a Chinese coal mine has halted Bitcoin mining operation in Xinjiang, China. The networks’ total hashrate dropped by 64 Eh/s as central authorities conducts safety inspections. Bitcoin’s price also felt the pressure from the decline in mining power, dropping 4.3% from today’s opening price. Share this article Bitcoin’s hashrate dropped 25% from all-time highs after an accident in the Xinjiang region’s mining industry caused flooding and a gas explosion, leading to 12 deaths with 21 workers trapped since.  Dangerous Mining in China…

r/Wallstreetbets re-bans crypto discussions following Bloomberg article

admin

r/Wallstreetbets, or WSB, a subreddit famous for organizing a pump for Dogecoin (DOGE) and the GameStop short squeeze, is enacting a crypto discussion ban after officially allowing the topic for a single day. Subreddit moderator u/bawse1 announced Thursday that WSB has now banned crypto discussions forever, following a Bloomberg article titled, “WallStreetBets Bows to Crypto.” Just a day before, the same moderator officially announced that the subreddit will finally allow crypto discussion strictly limited to Bitcoin (BTC), Ether (ETH), and DOGE. The new post reads: “Due to the article that was written…

Nigeria’s SEC says central bank’s crypto ban disrupted the market

admin

Lamido Yuguda, the director-general of Nigeria’s Securities and Exchange Commission has said the central bank’s crypto ban has caused significant disruptions to the market. According to a report by The Guardian, the SEC director-general made this assertion known during a press conference organized after the meeting of the Capital Market Committee on Thursday. As previously reported by Cointelegraph, the Central Bank of Nigeria barred commercial banks from servicing crypto exchanges back in February. According to Yuguda, the Commission has been forced to pause its planned cryptocurrency regulatory framework announced in…

Turkey Bans the Use of Cryptocurrencies for Payments

admin

Turkey takes aim at the cryptocurrency space.  Turkey Banning Crypto Payments  Using cryptocurrencies for payments will be banned from Apr. 30, the Central Bank of the Republic of Turkey (CBRT) has announced.  The bank has introduced the “Regulation on the Disuse of Crypto Assets in Payments” to enforce the ban. An article published by the Turkish government’s official newspaper says:  “The purpose of this regulation is not to use crypto assets in payments, not to use crypto assets directly or indirectly in the provision of payment services and electronic money…

Bitmain’s new Ether ASIC mining rig may not fix GPU shortage after all

admin

Cryptocurrency mining rig manufacturer Bitmain announced the pending release of a new Ether (ETH) miner on April 16. The Antminer E9 model is an application-specific integrated circuit chip, which will run on the Ethereum blockchain’s Ethash algorithm. No official release date has yet been announced for the E9, however, the machine’s arrival may not be as impactful as first suspected. The rig faces competition in the form of Nvidia’s CMP (Cryptocurrency Mining Processor) range of GPUs, designed specifically for crypto mining. Meanwhile, Ethereum’s scheduled move away from proof-of-work towards a…

Massachusetts regulator seeks to revoke Robinhood’s broker-dealer license

admin

Massachusetts’ securities regulator is seeking to revoke the broker-dealer license of cryptocurrency-friendly stock trading app Robinhood in the state. William Galvin, the head of the state’s securities division, said in a new administrative complaint that Robinhood has “continued a pattern of aggressively inducing and enticing trading among its customers — including Massachusetts customers with little or no investment experience,” Bloomberg reports Thursday. The new filing is a follow-up to a complaint filed by Galvin’s office in December 2020, alleging that Robinhood’s marketing illegally targeted inexperienced investors. The state pointed to…

Did Elon Musk’s ‘jet fuel’ set GameStop (and Bitcoin) ablaze?

admin

Depending on where you stand on the GameStop saga, which saw organized retail traders extract $6 billion from Wall Street overnight, you may think someone should either take the matches away from Elon Musk, or give him more. The CEO and “Technoking” of Tesla was accused of pouring “jet fuel” on the GameStop short-squeeze at a critical moment by hedge fund manager David Einhorn, founder of Greenlight Capital, in a letter to investors published Thursday. Einhorn said Elon Musk and venture capitalist Chamath Palihapitiya were the real instigators behind the…