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After IPO, Coinbase to now raise $1.5BN through debt offering
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 ...
XRP price prediction: XRP could test the $1.20 resistance level soon
The cryptocurrency market has slightly improved after a slow start to the week and could record further gains in the coming hours The cryptocurrency market had a slow start to the week, with Bitcoin and other major cryptocurrencies recording losses yesterday. However, things are starting to turn around for BTC and the others. Bitcoin is up by more than 2% at the moment and is trading above the $45,000 mark. Ether has surpassed the $3,300 resistance level after rising by nearly 4% in the last 24 hours. The other major cryptocurrencies, including Cardano (ADA), Binance Coin (BNB), Solana (SOL), Polkadot (DOT) and Dogecoin (DOGE), are all up significantly over the past few hours. XRP isn’t left behind, with Ripple’s native coin now up by 3% over the past 24 hours. If the cryptocurrency can ma...
Steve Wozniak Is Reportedly Launching a New Space Company
Steve Wozniak has reportedly started his own space company, Privateer Space. The Apple co-founder took to Twitter to announce the launch of his private firm over the weekend. However, the post appeared to be cryptic, providing very limited details on his latest venture. In a teaser introducing Privateer to the public, the video does mention that the startup was also co-founded by former Apple engineer Alex Fielding. Both Wozniak and Fielding have worked together in previous years, dating all the way back to 2002 when they co-founded Wheels of Zeuz (WoZ), focusing on GPS smart tags. When WoZ shut down in 2006, Wozniak also sat on the board of directors of Fielding’s startup, Ripcord Networks. The video seems to be a subtle response to the recent billionaire “space race” that saw Jeff Bezos ...
MicroStrategy acquires more than 5,000 additional bitcoins
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...
Manic Street Preachers on Course for Second U.K. No. 1 With ‘The Ultra Vivid Lament’
It’s not the first time these two acts have gone head-to-head on the chart. Back in September 1998, the Manics’ This Is My Truth Now Tell Me Yours beat Steps’ Step One for the crown by a margin of 95,000 sales. What The Future Holds Pt. 2, Steps’ seventh studio album, is the week’s most-downloaded LP, and is on track to become their third consecutive No. 2, following Tears On The Dancefloor (from 2017) and What The Future Holds (2020). Also new to the Official Chart Update is Dark Matters (Coursegood), the first album in nine years from punk rock veterans The Stranglers. It’s at No. 3, and could give the band their highest-charting effort in 43 years, since 1978’s Black & White. The Vaccines are chasing a fifth straight Top 5 album with Back In Love City (Super Easy), new at No. 4, whi...
Arlo Parks’ ‘Collapsed in Sunbeams’ Is Energized After Mercury Prize Win
Based on midweek data, the album vaults to No. 26. The soulful British singer is enjoying a bright start to her career. In 2020, she won the AIM Independent Music Award for One to Watch, was longlisted for the BBC Sound Of… 2020 and won BBC Introducing Artist of the Year. Collapsed In Sunbeams opened at No. 3 on the Official U.K. Albums Chart in February, and, in May, she was declared the breakthrough artist winner at the 2021 Brit Awards, on a night when she delivered an inspiring performance of her song “Hope.” Accepting the Mercury Prize, Parks said “it took a lot of sacrifice and hard work to get here and there were moments where I wasn’t sure whether I would make it through — but I am here today so thank you very much.” The award was established as the Mercury Music Prize in 199...
US lawmakers propose adding digital assets to ‘wash sale’ rule and raising capital gains tax
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 flock to Solana as demand for ETH and BTC flattens
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 miner Greenidge set for Nasdaq listing through merger
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...
Litecoin Surges 35% After Walmart Partnership Rumor Before Promptly Crashing Back Down
Litecoin has been hit with high volatility after skyrocketing in price amid Walmart partnership rumors before promptly crashing back down. On Monday, the price of the cryptocurrency surged by more than 35% when rumors surfaced in the form of a press release announcing the retail giant’s partnership with the asset. Learning of this, both the Litecoin Foundation and Walmart came out with statements debunking the rumors, clarifying that the news and the press release were fake. Within minutes, a massive sell-off ensued, causing LTC’s value to plummet back towards $ 174 USD, roughly returning to the levels it was at a day prior. Data from Bybt now reveals that the rapid pump and dump caused more than $25 million USD’s worth of liquidations of both long and short positions. The cryptocurrency n...
SEC takes action against Chinese billionaire’s companies over $500M offerings
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 reaches $333M valuation following Steve Cohen-backed fundraiser
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...
