Digital Platform Coinbase Faces SEC Probe on Crypto Listings

Digital banking platform Coinbase went public last year trading under the symbol $COIN is facing a SEC probe into whether it improperly let Americans trade digital assets that should have been registered as securities. Bloomberg reported this was according to three people familiar with the matter. The $COIN shares fell 9.2% on the news. This probe is separate and predates the SEC investigation into an alleged insider trading scheme that saw former Coinbase manager and two other people. sued by … Continue reading “Digital Platform Coinbase Faces SEC Probe on Crypto Listings”

Chinese Chip Designer Nano Labs IPO Tied to Grin Crypto Mining Sector and Metaverse

Launching an IPO is much to do about market timing. Unfortunately, Nano Labs, a fabless chip designer in China focused on cryptocurrency mining couldn’t have timed it worse. Cryptocurrencies have crashed, Crypto mining has been savaged by energy costs and China is continually at odds with the U.S. Nano Labs listed on the Nasdaq on July 12, 2022 under the symbol NA after it raised $20 million by offering 1.8 million ADSs at $11.50 The offering was near the top … Continue reading “Chinese Chip Designer Nano Labs IPO Tied to Grin Crypto Mining Sector and Metaverse”

Demand for PC’s Collapses in Steepest Decline in Nine Years

Personal Computer shipments in the second quarter of 2022 slid by 12.6% from the year-ago period according to data from research firm Gartner Inc. This was the steepest decline in nine years, computer makers shipped 72 million PCs in April through June, down from 82.4 million the year prior. IDC said shipments collapsed even more, by 15.3%. The top three global PC vendors, Lenovo Group, HP and Dell saw shipment numbers fall in the second quarter. The U.S. market for … Continue reading “Demand for PC’s Collapses in Steepest Decline in Nine Years”

Ethereum Collapses 20% To Yearly Lows as Risk Investors Seek Shelter from The Storm

Turmoil continues to ramp up for Cryptocurrencies with intensity to the downside. Stock markets sold off hard after another record high inflation and record low consumer sentiment in the US flowing on to risk instruments. Two-year Treasury yields climbed to the highest since 2008. Ethereum broke through support on Friday and is down over 20% from Friday’s highs after it broke through major support at $1700. The contagion spread quickly to alt coins like XRP, Solana, Cardano and dogecoin. Bitcoin … Continue reading “Ethereum Collapses 20% To Yearly Lows as Risk Investors Seek Shelter from The Storm”

Sports Fan Tokens Quickly Go from Euphoria to Indifference Like Messi’s Move from Barcelona to PSG

Sports fan token have been trading three years in the main crypto exchanges, with the aim an alternative for clubs to gain financing and for fans to be closer to their favorite teams. It hasn’t worked out as such as one would expect in the world of sports fandom where shifts of euphoria and indifference happen quickly, combine that with crypto and NFT noise. The days are early for gauging its success as it still in almost virgin times. Football … Continue reading “Sports Fan Tokens Quickly Go from Euphoria to Indifference Like Messi’s Move from Barcelona to PSG”

Coinbase Indian Expansion Plans Hit as Crypto Payments Frozen Across India

Turmoil hit India’s crypto traders after United Payments Interface, a central bank-backed entity said it was “not aware” of any crypto exchange using the network. Just hours earlier Coinbase Global’s chief product officer Surojit Chatterjee said crypto investors would now be able to use the country’s online retail payments system to transfer funds to its local exchange. At least seven crypto firms have suspended rupee deposits with Crypto exchanges already under pressure from the Indian tax regime. Coinbase customers are … Continue reading “Coinbase Indian Expansion Plans Hit as Crypto Payments Frozen Across India”

Ether Outperforms Bitcoin with Anticipation of the Merge

In cryptocurrencies the migration of Ethereum to proof-of-stake this year has garnered much excitement since the successful merge in testnet last week. Ether, the cryptocurrencies for Ethereum, has risen almost 14% in the past seven days, with Bitcoin’s rise just 5.9%. The move has closed the gap somewhat between the two with Ether is down about 20% this year and Bitcoin down around 10%. The Merge will change how transactions on Ethereum are ordered with the aim for the network … Continue reading “Ether Outperforms Bitcoin with Anticipation of the Merge”

Energy Companies Becoming a Major Force in Crypto Powering Bitcoin Miners

Energy companies’ capital intensity risk models by necessity look to opportunity for growth and to evolve. Energy prices have risen for the past year and accelerating higher after the Russian invasion of Ukraine. Together with the price of Bitcoin still down 40% from its November higher bitcoin margins have contracted to about 70% from 90%, according to analysts. Energy companies are in the position to deliver power directly to Bitcoin miners. Beowulf Mining Plc is an example of the opportunity for … Continue reading “Energy Companies Becoming a Major Force in Crypto Powering Bitcoin Miners”

US Justice Dept Seized $3.6 Billion in Bitcoin in Largest Financial Seizure Ever

The US Justice Department announced it has seized over $3.6 billion in cryptocurrency at today’s prices in what has been touted as the single largest financial seizure ever. They seized bout 94,000 of the 119,754 Bitcoin they alleged as stolen. It would be worth about $4.1B at today’s prices. The DoJ arrested Ilya Lichtenstein, 34, and his wife Heather Morgan. 31, with conspiring to launder cryptocurrency that was stolen during the 2016 hack of Bitfinex. The couple will make an … Continue reading “US Justice Dept Seized $3.6 Billion in Bitcoin in Largest Financial Seizure Ever”

Crypto Wrap Up: Bitcoin & Ethereum Collapse, US CBDC and Russia Ban Crypto

This week’s Crypto Wrap KnovaWave & Meta Johnny discuss a big week for crypto, the collapse of Bitcoin and Ethereum and alt coins heads us off. They discuss the use Of Bitcoin in South America and The US Fed’s paper on CBDC. The story behind the banning of Crypto in Russia and China as geopolitical tension hits fever pitch. Ethereum Money and Payments: The U.S. Dollar in the Age of Digital TransformationJanuary 2022 Executive Summary For a nation’s economy to … Continue reading “Crypto Wrap Up: Bitcoin & Ethereum Collapse, US CBDC and Russia Ban Crypto”