Bitcoin
SEC rejects ARK 21Shares spot Bitcoin ETF application
The United States Securities and Exchange Commission, or SEC, has officially disapproved the application for the ARK 21Shares Bitcoin exchange-traded fund (ETF). In a Thursday filing, the SEC rejected a proposed rule change from the Chicago Board Options Exchange, or Cboe, BZX Exchange to list and trade shares of the ARK 21Shares Bitcoin (BTC) ETF. The SEC said the proposed rule change, originally published for comment in the Federal Register in August 2021, would not be “‘designed to prevent fraudulent and manipulative acts and practices” nor “protect investors and the public interest.” The SEC said that the Cboe BZX Exchange had not met the requirements of listing a financial product under its rules of practice as well as those of the Exchange Act. Under these restrictions, exchanges see...
Netflix’s Crypto King: a riveting watch, but should it be better?
If you haven’t seen the new Netflix documentary, Crypto King, you should stop right here and go watch it. Even if you’re not into crypto, it’s worth watching. Although, considering you’re reading this on CoinText, I’m going to assume you are a crypto fan (still, I’ve read that there are actually some crypto people who are in relationships – who would have thought? So, your significant others will enjoy it too). With that said, I’m about to jump into some spoilers, so if you aren’t familiar with the crazy story, this is your last chance to avoid finding out. The Story Gerald Cotten was the founder of QuadrigaCX, a Canadian crypto exchange. He was a nerd; perpetually clad in clunky running shoes and ill-fitting jeans. He had glasses, and he even spoke like a nerd! Genuinely, he did. He sport...
Bitcoin suddenly dives to $46K as attention focuses on large CME futures gaps
Bitcoin (BTC) began to show fresh signs of an impending correction on March 31 as BTC price action began to eat into last weekend’s CME futures gap. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView Up or down, CME futures gaps provide targets Data from Cointelegraph Markets Pro and TradingView showed BTC/USD abruptly spiking down by $1,000 in minutes on Bitstamp after March 31’s Wall Street open. The pair had ranged after failing to cement $48,000 as support earlier in the week, amid calls for a retest of lower levels as a necessary step after considerable gains. At the time of writing, Bitcoin circled $46,700, having hit its lowest levels since the night of March 27. A look at the CME futures chart showed that short-term price performance could have a dow...
The future of cashback: Companies adopts crypto back rewards for card purchases
Receiving cashback from your credit and debit card purchases has been a long-time benefit for credit card users. However, crypto entered the scene as projects start to implement crypto back rewards for card purchases. Back in 2021, BlockFi launched a Visa-backed Bitcoin rewards card as a way to welcome users into the crypto ecosystem. With the card, users can get 1.5% back in Bitcoin (BTC) instead of other rewards like cashback or miles. In the same year, Venmo also employed mechanics that allows users to buy crypto with their cashback rewards. A program called Cash Back to Crypto allowed credit card users to spend their cashback rewards on crypto-assets like BTC, Ethereum (ETH), Litecoin (LTC) and Bitcoin Cash (BCH). Some companies started to follow the trend and integrated new cryp...
The future of cashback: Companies adopts crypto back rewards for card purchases
Receiving cashback from your credit and debit card purchases has been a long-time benefit for credit card users. However, crypto entered the scene as projects start to implement crypto back rewards for card purchases. Back in 2021, BlockFi launched a Visa-backed Bitcoin rewards card as a way to welcome users into the crypto ecosystem. With the card, users can get 1.5% back in Bitcoin (BTC) instead of other rewards like cashback or miles. In the same year, Venmo also employed mechanics that allows users to buy crypto with their cashback rewards. A program called Cash Back to Crypto allowed credit card users to spend their cashback rewards on crypto-assets like BTC, Ethereum (ETH), Litecoin (LTC) and Bitcoin Cash (BCH). Some companies started to follow the trend and integrated new cryp...
Greenpeace and Ripple CEO call for bitcoin code change due to energy consumption
Chris Larsen, founder of Ripple, has found an ally with Greenpeace to attack bitcoin. He wants bitcoin to move away from proof of work mining and become more energy efficient. To this end, they have started the “Change the Code, Not the Climate” campaign with various climate activists. The campaign will buy ads in several magazines over the next month. Greenpeace, the Environmental Working Group and some local activist groups rely on their millions of members to share the message. Change the Code, Not the Climate Michael Brune is leading the campaign, and he says they have already had success with “Change the Code, Not the Climate.” “We are in this long-term campaign, but we hope, especially since Bitcoin is now funded by entities and individuals who care about climate change, that we can ...
Greenpeace and Ripple CEO call for bitcoin code change due to energy consumption
Chris Larsen, founder of Ripple, has found an ally with Greenpeace to attack bitcoin. He wants bitcoin to move away from proof of work mining and become more energy efficient. To this end, they have started the “Change the Code, Not the Climate” campaign with various climate activists. The campaign will buy ads in several magazines over the next month. Greenpeace, the Environmental Working Group and some local activist groups rely on their millions of members to share the message. Change the Code, Not the Climate Michael Brune is leading the campaign, and he says they have already had success with “Change the Code, Not the Climate.” “We are in this long-term campaign, but we hope, especially since Bitcoin is now funded by entities and individuals who care about climate change, that we can ...
Bitcoin sentiment hits ‘greed’ in 2022 first amid calls for $45K BTC price pullback
Bitcoin (BTC) sentiment is seeing its first significant test of the rally to year-to-date highs as bullish gains dry up. The start of Wall Street trading on March 30 failed to induce a fresh advance on BTC/USD, which threatened to lose support at $47,000. From “extreme fear” to “greed” in one week After gaining nearly 30% since March 14, Bitcoin has managed to cling to its yearly opening price as support, this previously marking the resistance ceiling of its trading range for throughout 2022. Now, however, hopes of a retracement appear to be coming true, as momentum shows signs of — at least temporary — fatigue. Data from Cointelegraph Markets Pro and TradingView captured the turnaround overnight on March 30, with $48,000 currently the level proving stubborn fo...
Bitcoin hits 3-day low as Terra BTC buy-ins dry up below $48K
Bitcoin (BTC) hinted at a welcome retracement overnight into March 30 after relentless upside failed to flip $48,000 to support. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView Trader: BTC still on target to crack $50,000 Data from Cointelegraph Markets Pro and TradingView showed BTC/USD dipping to $46,572 on Bitstamp as Wednesday began — its lowest since March 27. A susbequent rebound alleviated some of the losses, and at the time of writing, the pair traded at around $47,400. The change of tack followed a cooling of the narratives which had surrounded Bitcoin’s initial push beyond its yearly open price of $46,200 — a significant achievement which ended the cryptocurrency’s multi-month trading range. Blockchain protocol Terra, on its way to amassing an inital ...
MicroStrategy subsidiary will purchase Bitcoin after closing $205M crypto-collateralized loan
MacroStrategy, a subsidiary of business intelligence firm MicroStrategy, said it will purchase Bitcoin after obtaining a multimillion dollar loan from Silvergate Bank. In a Tuesday announcement, MicroStrategy said Silvergate issued a $205 million loan “secured by certain Bitcoin held in MacroStrategy’s collateral account.” The firm’s subsidiary MacroStrategy will be using the proceeds of the loan to purchase Bitcoin (BTC), pay fees and interest related to the loan and handle general corporate expenses. “The SEN Leverage loan gives us an opportunity to further our position as the leading public company investor in Bitcoin,” said MicroStrategy CEO Michael Saylor. “Using the capital from the loan, we’ve effectively turned our Bitcoin into productive collateral, which allows us to furthe...
MacroStrategy obtains $205M BTC collateralised loan to buy more Bitcoin
MacroStrategy’s parent firm MicroStrategy already has a sizeable Bitcoin chest of more than 124,390 coins The interest-only term was provided by Silvergate, which specialises in FinTech and cryptocurrency, through the Silvergate Exchange Network leverage program. MacroStrategy, a subsidiary of the mobile software and cloud-based services provider MicroStrategy, has today been granted a $205 million loan to continue with its Bitcoin acquisition mission. In a press release published a few hours ago, MicroStrategy explained that the loan was collateralised by a fraction of the Bitcoins its unit owns – now in a collateral account under the custody of the two. Though specifics of the amount involved were not included in the press release, an SEC filing released last Wednesday shows that t...
Ethereum targets $3,500 as Bitcoin touches a three-month high
Bitcoin raced past $48k during Monday’s trading session setting a new year-to-date high above $48,086 Ethereum’s native token Ether has today shot up to a multi-week high of $3,428.85 on the back of the broader market rally Bitcoin yesterday set a new yearly high north of $48,000 as its price reacted to bullish news of Terra acquiring more Bitcoin that will act as reserve for its TerraUSD stable coin. The price ascent means Bitcoin has erased the losses it has recorded thus far. Though it has since retreated to $47,540 at the time of writing, market data shows Bitcoin has made marginally over 11% in the last seven days. These gains have helped the Satoshi coin come off a two-month cycle of range-trading between $35,000 and $45,000. At its current price, Bitcoin has moved up by over 43% fro...
