BitDigest April 8 · Issue #876
- Crypto prices slide for second day
- South Korea plans to crack down on illicit activities using virtual currencies
- JP Morgan’s Jamie Dimon calls for clarity on the legal and regulatory status of crypto currencies
Weekly Stock Update
The Headlines
South Korea Cracking Down on Illegal Crypto Activities
Hainan Island to Begin Testing Digital Yuan
UAE Plans to Actively Experiment with New Crypto Technologies
Riot to Basically Double Hashrate Capacity
Hut 8 Looking to Raise CAD $500 million
DA Davidson Increases COIN Price Target 226%
State Street to Support Crypto Trading Platform
Miami Heat Sign Partnership Agreement with FTX.us
Exchange, Custody and Product News
Coinbase Pro Adding 1INCH, ENJ, NKN, and OGN
Thoughts on the Ecosystem
Bitcoin is a Threat to US Dollar
US Must Address Regulatory Status of Digital Currencies
Bitcoin Could Still Pull Back
Reports you may have missed
U.S. equity indices are under pressure today following disappointing economic growth in conjunction with hotter-than-expected prices paid, sparking stagflation fears and reducing the chances of rate cuts. The $SPY has declined 0.91% to test $501 and the $QQQ has dropped 1.12% to $421, being weighed down by a 12% drop in META following its Q1 earnings release. Crypto markets are faring better, with BTC0.33% (-0.28%) trading at $64k and ETH-0.14% ...
The crypto market is pulling back from its recent surge, with $BTC falling below $65,000, $ETH trading under $3,200, and $SOL fighting to stay above $150. As expected, altcoins are also generally declining, although a few notable performers are scattered across the market. Currently, $BONK and $WIF, two prominent memecoins on Solana, are showing resilience, up 12% and 6%, respectively. Additionally, $HBAR initially doubled in price following reports that Blackrock...
Blockchain Association Sues the SEC, Cosmos Patches Potential Reentrancy Vulnerability
U.S. Treasury rates and the DXY (-0.46%) are sliding today following weaker-than-expected S&P Flash PMI data, helping catalyze a 1% rally in equity indices. Manufacturing PMI came in at 49.9 vs. 52.0 expected, and Services PMI read 50.9 vs. 52.0 expected. Bitcoin miners have benefited as rates retreat and transaction revenue remains elevated, with $RIOT, CLSK, and $MARA showing weekly gains of 26%, 16%, and 14%, respectively. Crypto assets are mixed with BTC0.33% ...
After significantly outperforming equities leading up to its halving event on Friday, BTC0.33% continued its upward trend over the weekend, now trading just below $66k. ETH-0.14% has generally followed suit, although continuing to lag behind BTC, with its current price around $3200. SOL-1.45% , meanwhile, has continued its strong rebound from the recent price slide, reaching $156 yesterday, currently trading slightly below that level. The crypto market is broadly performing well...
