Editor’s Note: Yesterday, the crypto publication, Blockworks, announced that it would be shuttering their news division in order to focus on software/data. While this isn’t the first crypto publication we’ve seen come and go since launching in 2017 (and it most certainly won’t be the last), it is unfortunate for the industry.
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Mastercard to acquire Zerohash
As we reported a few weeks ago, there was a bidding war going on between Mastercard (MA) and Coinbase (COIN) to acquire stablecoin startup BVNK for ~$2 billion. Well, it looks like Coinbase has won, forcing Mastercard to focus on a different acquisition target – Zerohash. The deal will be similar in size, coming in just under $2 billion. Zerohash only recently raised $104 million in September at a $1 billion valuation. Read more →
Fed Cuts Again
The Fed delivered a second straight 25 bps cut yesterday, taking the target range to 3.75-4.00%. Fed Chair Jerome Powell also warned a December cut is “far from a forgone conclusion,” sending odds for another move from ~90% to ~70. Overall, QT is seemingly winding down with some desks thinking this week, and into months-end, is about as tight as U.S. liquidity gets in 2025. In a nutshell, liquidity headwinds look to be easing which is, historically, a massive tailwind for bitcoin. So despite BTC prices slumping these past few weeks – carry on, because this train’s still moving. Read on →
Bitwise SOL ETF defies SOL price
On it’s first day of trading, BSOL recorded $56 million in volume – the highest of any ETF launched this year. On day two, the new ETF continued to crush it with $72 million in volume. With other SOL based ETFs, including ones from Fidelity and Grasyscale, coming shortly, we expect inflows to begin ramping up. What’s amazing is that this is all occurring while the price of SOL is down 12% on the month. Meanwhile, Bitwise’s CIO explains why he expects SOL price to rise. Read more →
Tether is now the 17th largest holder of U.S debt, passing South Korea Link»
USDC is growing faster than USDT under Trump Link»
Democrat Seeks Crypto Trading Ban for Politicians Following Binance Founder’s Pardon Link»
Galaxy Integrates with Coinbase Prime Link»
CHART: Crypto IPO winners and losers Link»
MetaMask parent Consensys to IPO with JPMorgan and Goldman Link»
How a Billionaire Felon Boosted Trump’s Crypto Company en Route to a Pardon Link»
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