Circle stock opened up to 68% above its $31 IPO price, indicating strong investor demand. Circle’s USDC holds a $61.5B market cap, second to Tether, but shows consistent revenue growth. Analyst Jacob Zuller expects Circle’s market share to reach 40% if U.S. stablecoin regulation advances. Circle Internet Group priced its initial public offering (IPO) at … Read more
According to Arkham Intelligence, a massive liquidation event took place on Hyperliquid, a popular derivatives trading platform, several minutes ago. Popular trader James Wynn has had all of his long positions wiped out after the price of Bitcoin sank lower earlier today. The total trade value of his positions stood at roughly $39.3 million. The … Read more
Russia is entering the cryptocurrency derivatives market, as the Moscow Stock Exchange kicked off bitcoin futures trading on June 4, limited exclusively to “highly qualified” investors. This move comes as Russia cautiously experiments with crypto-related financial instruments, amid ongoing regulatory uncertainty. These new contracts are linked to Blackrock’s bitcoin exchange-traded fund (ETF), the Ishares Bitcoin … Read more
TRON active addresses hit an all-time high, signaling growth. TRX trades at $0.2729, down 0.16% daily but up 11.55% monthly. Following record levels of active addresses hitting an all-time high, TRON has another new achievement. According to CryptoQuant, there is a huge rise in daily active addresses, which indicates the power of the network. Due … Read more
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A crypto wallet tied to the defunct dark web marketplace Alphabay was reportedly behind the donation of $31 million worth of Bitcoin to Silk Road creator Ross Ulbricht, according to blockchain analysis. Blockchain analytics firm Chainalysis told WIRED for a June 5 report that it had tied the 300 Bitcoin (BTC) donated to Ulbrich earlier … Read more
Key takeaways: Bitcoin’s percent supply on exchanges has dropped below 11% for the first time since 2018. Institutional adoption is accelerating BTC withdrawals from public exchanges. Trust in centralized platforms is shaky post-FTX. Bitcoin’s (BTC) percent supply on exchanges has dropped to near seven-year lows, falling below 11% for the first time since March 2018, … Read more
Ridesharing giant Uber is in the “study phase” of using stablecoins to help reduce the costs of moving money around the world, says its CEO Dara Khosrowshahi. Khosrowshahi said on stage at the Bloomberg Tech Summit in San Francisco on June 5 that Uber is “definitely going to take a look” at stablecoins. “We’re still … Read more
USD/CAD trades with caution near 1.3650 as the US/Canada labor market data for May takes centre stage. The US economy is expected to have added 130K job-seekers while the Canadian laborforce is estimated to have been reduced by 15K workers. The optimism on the Sino-US trade deal has offered support to the US Dollar. The … Read more
North Korea’s sprawling crypto laundering network has been hammered as U.S. authorities seized $7.74 million tied to fake IT jobs, blockchain trickery, and weapons funding. DOJ Targets North Korea’s Crypto Laundering Network With Asset Seizure The U.S. Department of Justice (DOJ) announced on June 5 that it has filed a civil forfeiture complaint seeking to … Read more