Crypto

Eurex, a derivatives exchange owned by German stock market operator Deutsche Boerse, has debuted cryptocurrency derivatives trading with ETC Group’s Bitcoin (BTC) exchange-traded note (ETN) futures product. Eurex officially announced Monday the launch of the Bitcoin ETN Futures contract developed by London-based crypto derivatives issuer ETC Group. “As the first step in our portfolio of crypto derivatives, the offering is the first regulated market in Bitcoin-related derivatives in Europe,” Eurex said. Trusted path to #crypto: today, we launched #Bitcoin ETN #Futures. As the first step in our portfolio of #CryptoDerivatives, the offering is the first regulated market in Bitcoin-related #derivatives in Europe. Get all information and the factsheet here: https://t.co/bk55yqFssN pic.twitter.c...

The interest rates and redemption policy will be determined in collaboration with initial purchasers, the exchange said In a press release yesterday, US-based cryptocurrency exchange Coinbase announced that it will be pursuing a private offering of $1.5 billion aggregate principal amount of its Senior Notes due 2028 and 2031. Clarifying that the proposal was subject to market conditions and other factors, the exchange confirmed that its wholly-owned subsidiary Coinbase Inc will guarantee the debt offering.   Senior notes refer to debt instruments that assure investors high-priority claims if and when a company declares bankruptcy. While the interest paid to investors is less than that for junior notes, the debt offering is preferred since it is repaid before others in the case that a ...

Corporate entities are increasing their Bitcoin holdings, and MicroStrategy continues to lead the way in this regard Business intelligence software company MicroStrategy revealed that it had acquired 5,050 bitcoins to add to its balance book. The company remains the largest Bitcoin holder amongst corporate entities and is looking to add more to its balance sheet. The company revealed yesterday that it bought more than 5,000 bitcoins for about $242.9 million. This implies that it bought the coins at around $48,000 each, with Bitcoin’s price trading around that region for the past few days. Following this latest acquisition, MicroStrategy now holds 114,042 bitcoins. MicroStrategy spent $3.16 billion to acquire the coins at an average price of $27,713 per BTC. At the current price, MicroStrat...

Democrats in the U.S. House of Representatives have proposed tax initiatives to fund a $3.5 trillion spending package which could potentially affect crypto users.  According to a document released by the House Committee on Ways and Means on Monday, the proposal would increase the tax rate on long-term capital gains from the existing 20% to 25% for “certain high income individuals.” A surtax of 3.8% on net investment income would seemingly apply to the proposed changes, bringing the U.S. capital gains and dividends tax rate to 28.8% for wealthy crypto users. In addition, the tax plan would add digital assets to the “wash sale” rules, which prohibit investors from claiming capital gains deductions on certain assets repurchased within 30 days of a sale, “previously applicable to st...

Institutional traders have flocked to Solana (SOL) as demand for Ether (ETH) and Bitcoin (BTC) exposure has flattened, with SOL investment products representing a whopping 86.6% of total weekly inflows crypto investment products last week. According to the Sept. 14 issue of CoinShares’ Digital Asset Fund Flows Weekly, Solana (SOL) investment products saw inflows of $49.4 million between Sept. 6 and Sept.10. The combined total inflows for crypto investment products equated to $57 million for the week, with SOL seeing a 275% week-over-week increase to represent 86.6% of total inflow. The surging inflows to Solana products coincided with the price of SOL gaining 36% over the same period. The report concluded: “A combination of price appreciation and inflows now brings Solana’s assets under ma...

Bitcoin mining and power generation company Greenidge is set to complete a merger with customer and technical support solutions provider Support.com to become the latest publicly listed mining firm.  Once the merger transaction is complete, Support.com Inc. will become a wholly-owned subsidiary of Greenidge Generation Holdings Inc. The new entity’s Class A shares will trade under the ticker GREE. According to a Sept. 13 announcement published by the SEC, the merger is expected to become effective by market close the following day. The merger, settled as a stock-for-stock transaction, will see each share in Support.com Inc. automatically converted into the right for its bearer to receive 0.115 Class A Greenidge shares. Greenidge CEO, Jeff Kirt, stated: “This merger is an importan...

The United States Securities and Exchange Commission (SEC) has charged three of Chinese billionaire Guo Wengui’s companies over an initial coin offering (ICO) and initial public offering (IPO) that fetched around $487 million combined. The infamous Wengui, also known as Miles Kwok or Miles Guo, is an exiled Chinese businessman who currently resides in New York. Wengui is known for his controversial political takes and his ties to Donald Trump confidant, Steve Bannon. The SEC submitted a cease and desist order on Sept. 13, with the documents showing that Guo’s companies have agreed to pay a settlement with the SEC within 14 days. The SEC outlined two unregistered securities offerings from Guo’s firms, with GTV Media Group, Saraca Media Group and Voice of Guo Media conducting an IPO between ...

NFT company Recur has seen its valuation swell to $333 million after concluding a successful investment round endorsed by billionaire Steve Cohen’s family office.  The Series A raised $50 million, mainly through contributions from the Cohen-backed investment platform Digital, according to a statement. Some of Recur’s previous investors include Hashed, Gemini, CMT Digital, JST Capital and Delphi Ventures. The investment will be used to bootstrap the company’s go-to-market strategy, which includes hiring over 150 people, developing new brand experiences and launching a new NFT platform called NFTU.com. As Cointelegraph reported, Recur raised $5 million in March to address some of the biggest challenges within the NFT market, including how artists get paid. In addition to the funding rou...

Bitcoin’s (BTC) failure to make a strong recovery in the past few days has resulted in profit-booking in most major altcoins, threatening to pull the total crypto market capitalization back below $2 trillion. The United States equity markets witnessed profit-booking and the S&P 500 dropped by 1.69% last week, suggesting the development of a risk-off sentiment. Charles Edwards, CEO of investment manager Capriole, pointed out that “almost every Bitcoin correction in 2021” has corresponded with a 2% or more drop in the S&P 500. Daily cryptocurrency market performance. Source: Coin360 Irrespective of the near-term weakness in Bitcoin, MicroStrategy has continued to build its holdings. The company’s CEO Michael Saylor recently revealed a purchase of 5,050 Bitcoin bought at an average pr...

Nonfungible tokens (NFTs) and play-to-earn gaming are two of the hottest trends in the crypto sector because each presents new avenues for attracting users and the unique character of each niche allows participants to generate wealth rather than having to spend money to become a part of the community. Gala Games, a blockchain-gaming-focused project that allows users to use their unique NFT characters in gameplay, saw its GALA token etch out significant gains after Binance announced plans to list the GALA token. Data from Cointelegraph Markets Pro and TradingView shows that after hitting a low of $0.021 on Sept. 12, the price of GALA catapulted 270% to an intraday high at $0.077 on Sept. 13 as its 24-hour trading volume skyrocketed. GALA/USDT 4-hour chart. Source: TradingView The sudden bur...

Gary Gensler, chair of the United States Securities and Exchange Commission, is once again urging crypto projects with securities to register with the regulatory body to ensure thinvestors are protected. In a prepared statement for his testimony at the Senate Committee on Banking, Housing, and Urban Affairs scheduled for Sept. 14, Gensler said the Securities and Exchange Commission, or SEC, was working with the Commodities Futures Trading Commission for investor protection in crypto markets. In addition, he hopes to develop a policy framework by working with the Federal Reserve, Department of Treasury, Office of the Comptroller of the Currency, and President Joe Biden’s Working Group on Financial Markets. “I’ve suggested that [crypto] platforms and projects come in and talk to us,” said th...