Business

Cipher (CIFR), CleanSpark (CLSK) Upgraded by JPMorgan (JPM) as HPC Shift Accelerates

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Wall Street bank JPMorgan is sharpening its sights on US-listed bitcoin miners as a wave of high-performance computing (HPC) deals reshape business models and add long-term revenue certainty. The bank upgraded Cipher Mining (CIFR) to overweight from neutral and raised its price target on the stock to $18 from $12. Shares were 4.2% higher in […]

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What’s Next for Bitcoin (BTC) Price as Fed Rate-Cut Bets Rebound: Crypto Daybook Americas

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By Omkar Godbole (All times ET unless otherwise noted) The new week does not start on the brightest note. Bitcoin BTC$86,272.19 already pulling back from the weekend, falling to $86,000 from around $88,000. The CoinDesk 20 Index (CD20) is also feeling the cold, falling to 2,758 points from the weekend’s high of 2,816. BTC has

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Revolut hits $75B valuation in fundraise backed by Coatue, NVIDIA, Fidelity

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London-based fintech company Revolut has secured a valuation of $75 billion following a secondary share sale involving several of the world’s largest investment firms, the company announced in a press release. The transaction was led by Coatue, Greenoaks, Dragoneer and Fidelity, with participation from Andreessen Horowitz, Franklin Templeton and NVIDIA’s venture arm, NVentures. The deal

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China Returns As Third Largest BTC Mining Hub With 14% Share: Reuters

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Bitcoin BTC$87,267.39 mining is seeing a significant revival in China, although the activity was formally banned in 2021, according to Reuters. After all but disappearing from the global landscape, China has climbed back into third position with an estimated 14% share of global mining in October, according to the Hashrate Index. This resurgence is driven

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Animoca Brands wins initial approval to run regulated fund in Abu Dhabi’s ADGM

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Web3 investment and infrastructure firm Animoca Brands won in-principle approval from the Abu Dhabi Global Market’s Financial Services Regulatory Authority (FSRA), the company said on Monday. Final approval would allow Animoca Brands to manage collective investment funds from ADGM, helping it strengthen its institutional footprint in the Middle East. Animoca already has a presence in

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Grayscale Dogecoin, XRP Trusts Go Live, Cleanspark Earnings: Crypto Week Ahead

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Grayscale’s Dogecoin Trust ETF (GDOG) and XRP Trust ETF (GXRP) are set to debut later Monday, with the underlying tokens heading for their worst months since February along with the rest of the crypto market. The CoinDesk 20 index (CD20) has lost 23% since the start of November. ETF flows in the month reflect the

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Thai Crypto Exchange Bitkub Weighs Hong Kong IPO: Report

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Thailand-based digital asset exchange Bitkub is considering an initial public offering (IPO) in Hong Kong, people familiar with the matter told Bloomberg. The exchange could look to raise about $200 million from the IPO, possibly next year, the sources said, adding that discussions are ongoing and details could still change. Founded in 2018, Bitkub previously

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$40B in ETF Volume Signals Institutional Capitulation

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The 11 US-listed spot bitcoin ETFs broke trading records last week, with cumulative volumes exceeding $40.32 billion, indicating likely institutional capitulation. BlackRock’s IBIT led the industry with $27.79 billion in trading volume, accounting for nearly 70% of the total, according to data source SoSoValue. On Friday alone, these funds recorded over $11.01 billion in trading

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