Business – Page 9 – Pakinomist

Bitcoin selloff continues as prices dip below $63,000 for first time since February

Bitcoin BTC$62,801.32 extended losses early Thursday, falling to $63,000 for the first time since February 24. The cryptocurrency has lost over 14% this week alone and 21% over the past four weeks, according to CoinDesk data. The selling has sparked demand for protective option plays, pushing the fear gauge, the 30-day implied volatility index BVIV, […]

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Crypto PACs go undefeated in June primaries as Fairshake scores two-game winning streak

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Crypto-backed super PACs swept Tuesday’s primary election, with all 11 candidates backed by Fairshake affiliates advancing or winning their races, extending the industry’s electoral winning streak while revealing a strategy increasingly focused on cultivating Democratic allies rather than supporting incumbent crypto champions. The results spanned nine California congressional races, New Jersey’s 8th District and South

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Coinbase is said to be exploring participating new stablecoin platform backed by Stripe, Visa, Mastercard

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Global payments networks Stripe, Visa and Mastercard are close to introducing a new stablecoin platform, according to three people familiar with the plans. US-listed cryptocurrency exchange Coinbase (COIN) is also exploring the possibility of joining the stablecoin platform, one of the people said. Coinbase, Stripe and Visa declined to comment. Mastercard had not responded to

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Tom Lee’s Bitmine (BMNR) to offer preferred stock with 9.5% dividend following Strategy’s playbook

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BitMine Immersion Technologies (BMNR), an Ethereum treasury company led by Fundstrat co-founder Tom Lee, is borrowing a page from Strategy’s financing playbook and launching a $300 million preferred stock offering as crypto-treasury firms search for new ways to secure funding. According to a Wednesday filing with the US Securities and Exchange Commission (SEC), the company

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SpaceX Aims Record $75 Billion IPO As Bitcoin’s Treasury And Liquidity Risks Draw Focus

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SpaceX plans to price its initial public offering at $135 a share in a deal that would raise a record $75 billion and value the company at $1.75 trillion, the company said in a filing with the US Securities and Exchange Commission. The aerospace company plans to sell 555.6 million shares as part of the

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Grayscale launches US Hyperliquid ETF with lowest fee as competition heats up around HYPE

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Grayscale said Wednesday it launched a Hyperliquid (HYPE) exchange-traded product (ETP) with the lowest fee among its U.S.-listed competitors, escalating a price war in one of crypto’s newest and fastest-growing ETF categories. The asset manager announced the Grayscale Hyperliquid Staking ETF (HYPG) on Nasdaq, revealing a 0.29% sponsorship fee and confirming the ticker HYPG. The

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ETH Falls Below $1,800, Leaves Tom Lee’s Bitmine (BMNR) With $8.9 Billion Paper Loss

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Bitmine Immersion Technologies (BMNR), the largest corporate holder of ether (ETH), is staring at nearly $9 billion in losses as the token’s drop below $1,800 drags down the value of its huge treasury. Shares in the company led by Tom Lee fell another 5.9% on Wednesday, falling below $17 and extending their decline to 28%

ETH Falls Below $1,800, Leaves Tom Lee’s Bitmine (BMNR) With $8.9 Billion Paper Loss Read More »

The Clarity Act’s survival depends on the US Senate getting a lot of non-encryption work done

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At some point, the advancement of the crypto sector’s top policy priority – the Digital Asset Market Clarity Act – becomes an insurmountable mathematical problem, with not enough time left in the US Senate’s work calendar to allow passage. But the bill has now been formally offered to the Senate calendar, and industry lobbyists are

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Bitcoin is not going down because of Saylor, it is losing the momentum trade

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Bitcoins BTC$65,685.04 recent struggles to rise in tandem with U.S. stocks have sparked a flurry of explanations, from concerns about Michael Saylor’s ( MSTR ) strategy in selling bitcoin to questions about whether institutional demand is starting to fade. Charles Schwab Director of Research and Strategy for Digital Currencies Jim Ferraioli sees a simpler explanation:

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New DeFi entrant expands the field of crypto-political campaign funds as the election nears

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Another crypto-focused political action committee, Defend Developers PAC, has joined the fray of campaign finance operations that have put the industry on the political map in recent years. The new entrant will not compete with the sector’s leading super PAC, Fairshake, nor is it expected to scale the mid-level committees that include the Fellowship PAC

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