The crypto market is up today as U.S. macroeconomic data shows a strong economy and institutional inflows into crypto continue to rise.
Stocks News
In the realm of finance, stocks represent ownership shares in a company and provide investors with a stake in its assets and earnings. Publicly traded stocks are bought and sold on stock exchanges, reflecting the company’s performance and investor confidence.
The concept of stocks in the cryptocurrency world translates into different tokens or digital assets that stand in for ownership in blockchain-based platforms or projects. These cryptocurrency tokens, which are frequently a part of decentralized finance projects, give their owners dividends or the ability to vote on the project’s outcome.
Additionally, initial public offerings have found their counterparts in the crypto world through initial coin offerings (ICOs) and security token offerings (STOs). ICOs allow crypto startups to raise funds by offering their native tokens to investors. Similarly, STOs issue security tokens, representing ownership in the company and adhering to regulatory guidelines. A notable example is Coinbase, a prominent cryptocurrency exchange that went public through a direct listing, allowing traditional investors to participate in the crypto market indirectly.
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Short sellers have lost more than $6 billion trying to bet against crypto stocks in 2023.
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The latest Coinbase sale by ARK is one of its largest daily sales in 2023, third only to two massive sales in July.
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Bitcoin price is up today as institutional investor inflows and traders’ belief that a spot BTC ETF approval is on the way boosts bullish momentum.
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It adds to a prior agreement in which Riot bought 33,280 miners from MicroBT. The term sheet was also updated, allowing Riot to buy another 265,000 miners in the future.
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The anticipated Bitcoin halving and potential ETF approvals have lit “some serious fire in the cauldron” for crypto, said Zerocap investment chief Jon de Wet.
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Robinhood CEO Vladimir Tenev said in an interview with Bloomberg that the company is still focused on its global aspirations, and its U.K. expansion is one step toward that.
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The crypto market is down today as regulatory enforcement against the sector reaches a head and short-sellers jockey for the lead in liquidations.
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Due to UAE’s National Day, Phoenix Group’s public trading launch on the Abu Dhabi Securities Exchange has been moved to Dec. 5, 2023.
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The price high comes after rival exchange Binance pleaded guilty and traders seemingly priced in Coinbase’s custodian agreements for a slate of spot crypto ETFs.
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After selling nearly 700,000 GBTC shares over the past month, ARK’s Next Generation Internet ETF still holds 4.3 million GBTC shares worth $131.8 million.
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Former OpenAI CEO Sam Altman has reportedly agreed to a position with Microsoft, while Nvidia reaps the benefits of Big Tech’s scramble to build a better chatbot.
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After the latest Form S-1 spot Bitcoin ETF amendment by WisdomTree, only Franklin Templeton and Global X are yet to amend their S-1 filings.
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Bitcoin’s latest price pullback to $35,000 was driven by softer U.S. inflation, China’s economic challenges and regulatory uncertainties.
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Deutsche Börse, owner of the Frankfurt Stock Exchange, says it will accelerate the development of its blockchain-backed D7 digital securities registry and build a trading platform for digital assets.
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