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📊 VC firms are slowing down crypto investments for a 'nuanced reason' — Venture Capitalist
Adam Cochran highlighted that crypto funding has slowed as venture capitalists prefer to focus on “breakout trends” rather than “moonshots.”
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💡Harris Takes the Lead
On Polymarket, Kamala Harris has taken the lead in the race against Trump, leading him by 7%.
Who will be the new US president?
😎 — Trump
😇 — Harris
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💰 Ethereum flag raised at the iconic Wall Street.
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The capitalization of the largest stablecoin Tether (USDT) has almost reached $115 billion
•Since the beginning of 2024, the capitalization of USDT has increased by almost $20 billion. After its fall to $66 billion in 2022, the figure has been growing almost without corrections.
•At the end of July, Tether reported record profits - for the first half of this year, the company earned $5.2 billion, and the company's consolidated capital amounted to $12 billion.
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NEW: 📺 Fox Business says Michael Saylor's MicroStrategy "is outperforming everything" since they adopted Bitcoin
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ICYMI: 💰 Bitcoin miner MARA purchased $100M worth of #Bitcoin, bringing their holdings to +20K #BTC, and adopts a HODL strategy, retaining all mined #Bitcoin and making periodic strategic purchases
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💰 "We are just going to keep generating more BTC per share anyway we possibly can, by selling the volatility of the asset class [BTC] and then sweeping it into the underlying asset --> $MSTR."
- Saylor
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🚀 Robinhood's Q2 crypto revenue skyrocketed by 161% to $81 million, more than double its earnings from equities.
Despite a dip in user activity and a 27% drop in total trades, Robinhood's crypto assets under custody rose by 57%.
The firm is also set to acquire crypto exchange Bitstamp and expand its AI capabilities with the acquisition of Pluto Capital. 📈
Robinhood (HOOD) stock fell 0.52% to $17.12 on Aug. 7 but is up 2.86% since the firm’s Q2 results came out in after-hours trading
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JUST IN: 💰 Bitcoin addresses with a balance of over 0.1 $BTC is nearing a new all time high 👀
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💰 Michael Saylor says he owns more than $1 BILLION in Bitcoin personally
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💡One-day corrections of the crypto market since 2014
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💰 Bitwise CIO sees Bitcoin’s potential echoing post-COVID surge
Bitwise Chief Investment Officer Matthew Hougan said the current market conditions are a prime buying opportunity for investors interested in Bitcoin, according to an Aug. 5 investor note. Hougan pointed out that Bitcoin had historically ended the year higher following global economic stress and drew parallels to the 2020 COVID-19 crisis when BTC, like other assets, saw a sharp decline but eventually surged over 1,000% within a year.
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$300B plunge: Largest 3-day wipeout for crypto in a year
The crypto market saw its largest three-day sell-off in 12 months amid weak jobs data and revived fears of a recession leading to a tumble in the equities market.
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🇺🇸 BPI founder David Zell educating the US Senate Financial Innovation Caucus on #Bitcoin today
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BREAKING: 🏛️ Morgan Stanley tells wealth advisors they can pitch #Bitcoin ETFs, CNBC reports
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"Four years ago today, MicroStrategy adopted #Bitcoin as its primary treasury reserve asset; since then $MSTR has outperformed 499 of 500 stocks in the S&P 500."
By Michael Saylor
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😎BTC/USDT ANALYSIS
Bitcoin is consolidating in an ascending triangle on the weekly time frame. It is currently bouncing off the triangle's trendline support, indicating bullish momentum.
However, the 21-day moving average is acting as resistance above the current price action. A solid breakout above the triangle is needed to forecast a new peak for BTC.
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🇺🇸 President and CEO of FED Boston says if the data is as expected, it's “appropriate soon to begin” easing.
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💰 Bitcoin sell off is a "bear trap" and there is "a lot of institutional and retail interest" in #Bitcoin ETFs - Yahoo Finance
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Tether plans to double its workforce to 200 by mid-2025, focusing on expanding its compliance team.
Despite its small size, Tether remains a financial powerhouse, generating $5.2 billion in profits in the first half of 2024.
The company continues to enhance monitoring tools to prevent illicit activity involving its USDT stablecoin, which now commands nearly 70% of the stablecoin market with a $115 billion supply.
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🤓Arthur Hayes: BTC will survive under any president
🪙 Arthur Hayes said that it doesn’t matter to BTC who will become the next US president — Harris or Trump. In his opinion, any successor to Biden will be forced to “print money”, the difference will only be in the nuances.
Main points:
✔️Hayes believes that creating a Bitcoin reserve is unrealistic even if Trump wins — the administration will rather buy precious metals.
✔️He is confident that the cryptocurrency will grow despite the winding path: “In the end, we know where it’s going.”
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BREAKING: 🇷🇺 Russian President Vladimir Putin signed a law legalizing cryptocurrency mining in Russia 🔥
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💎 NEW: Binance will list Toncoin ($TON) and open trading for the following spot trading pairs at 2024-08-08 10:00 (UTC).
New Spot Trading Pairs: TON/BTC, TON/USDT, TON/FDUSD, and TON/TRY.
Is this BULLISH for $TON?
👍 - YES
👎 - NO
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JUST IN: 🇯🇵 Metaplanet secures ¥1 billion 0.1% APR loan; proceeds to fund additional purchases of $BTC 🙌
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🚀 Solana hits a new all-time high against Ethereum! 🚀
Solana's price surged to a new peak of 0.06211 $ETH on August 7, entering price discovery.
Analysts suggest that if $SOL can flip $148 into support, a rally to $200 is possible. Traders are optimistic, pointing to bullish patterns on various charts.
$SOL has outperformed major cryptocurrencies, gaining over 15% against Bitcoin since early August. However, it must secure $148 as support to avoid a potential drop below $100.
Will Solana hit $200 next? Share your thoughts! 💬
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🪙 BlackRock, Nasdaq make the push for options on spot Ethereum ETF
Exchange Nasdaq and the world's largest asset manager BlackRock plan to list and trade options for its spot Ethereum exchange-traded fund. In a filing posted Tuesday to the U.S. Securities and Exchange Commission's site, BlackRock and Nasdaq ISE, LLC proposed a rule change to list and trade options on the iShares Ethereum Trust (ticker ETHA).
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💰Hedge fund giant Capula reports owning $464 million in spot bitcoin ETF shares
Hedge fund giant Capula Investment Management has reported owning $464 million in spot bitcoin ETF shares, according to a filing with the U.S. Securities and Exchange Commission filing dated Monday. According to the filing, Capula Investment Management owned shares in spot bitcoin ETFs issued by both BlackRock and Fidelity. The filing reflected the firm's holdings as of the end of Q2, or June 30.
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NEW: 💰 MicroStrategy announces that they expect their Bitcoin holdings per share to grow by 4-8% annually for the next three years
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JUST IN: 🇺🇸 Donald Trump suggests using #Bitcoin to pay off the country's $35 trillion in debt
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💰 VanEck CEO expects Bitcoin to trade at 350k and mentions bullish people expect 2.9M
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