Professional gamer and Twitch streamer Kyle Jackson said he sold the digital “key” he won playing Yuga Labs’ video game Dookey Dash for a whopping 1,000 eth, which is about $1.6 million. Jackson, more...
Tag: The Block
DCG reported loss of $1.1 billion in 2022, CoinDesk says
Digital Currency Group said it lost $1.1 billion last year amid falling crypto prices and the restructuring of its Genesis lending platform, CoinDesk reported. “In addition to the negati...
Crypto’s correlation with macro events, US equity markets is weakening, Bernstein says
Crypto prices are continuing to trade in a broadly similar range as the correlation with U.S. equities and macro events weakens, Bernstein analysts said. Crypto-related stocks opened higher on Monday,...
Ether, bitcoin track Nasdaq, S&P declines as new data keeps inflation fears in focus
Crypto and traditional assets sank after U.S. data showed inflation persisting. Bitcoin traded down about 1.5% to $23,785 at 8:45 a.m. EST, while ether fell about 1% to around $1,639. The...
Block’s Q4 Cash App bitcoin profit drops 25%
Block reported its fourth-quarter bitcoin gross profit from its Cash App dropped by one-quarter to $35 million. The total sale amount of bitcoin sold to customers, recognized as bitcoin revenue, was $...
OP token pops 7% following Coinbase Layer 2 announcement
Markets • February 23, 2023, 10:03AM EST Optimism’s token price soared following Coinbase’s announcement that it would build its Layer 2 network on the OP Stack and become a core developer...
Luxor partners with Southeast Asia mining firm, seeks to attract capital
Bitcoin mining firm Luxor wants to expand its presence in Southeast Asia by partnering with local mining service provider Cryptodrilling. The company will be integrating Luxor’s software, ...
Ark Invest adds another $13 million worth of COIN
Cathie Wood’s Ark Invest made another large COIN purchase, this time coming in at over $13 million. Wood’s fund has added over $30 million in COIN shares this month alone. Ark added...
Forsage founders indicted in $340 million Ponzi scheme
Legal • February 22, 2023, 6:34PM EST The founders of Forsage, a decentralized finance crypto investment platform, were indicted for their alleged roles in a $340 million “global Ponzi and pyramid sch...
Bitcoin, crypto prices sink for second day; Coinbase down as markets look to Fed minutes
Cryptocurrency and stocks dipped as the focus turned to the release of the U.S. Federal Reserve’s January meeting minutes later today. Bitcoin was trading at $23,700 by 11.20 a.m. EST, do...
Coinbase earnings beat thanks to USDC interest income, analysts say
Coinbase’s fourth-quarter revenue beat estimates thanks to USDC interest income, analysts said. Interest income for the quarter came in at $146 million, up more than 100% from the previous...
Bitcoin slips as altcoins lead drop in prices
Markets • February 21, 2023, 8:31AM EST Cryptocurrency prices dipped over the past 24 hours. Altcoins experienced a sharp sell-off, with Polygon’s MATIC down about 5% as the project announced jo...
The Block: SEC planting its regulatory flag as Congress still to pick a regulator: SEC’s Peirce
Policy • February 20, 2023, 5:00AM EST The Securities and Exchange Commission is attempting to “plant its regulatory flag,” while Congress is still mulling which agency will be police crypto, sa...
Blockchain.com not selling subsidiaries, never spoke to Coinbase: Source
Deals • February 17, 2023, 6:35PM EST Published 1 hour and 20 minutes earlier on Blockchain.com isn’t selling any subsidiaries and hasn’t spoken to Coinbase about possible deals, a person ...
U.S. investigation into Do Kwon and his infamous stablecoin unveils several new revelations
The collapse of supposed stablecoin TerraUSD last May wiped out more than $40 billion of market value held by investors who bought into the story that creator Do Hyeong Kwon and his firm Terraform Lab...
Merit Peak, firm at heart of Reuters report, operated on Binance.US, exchange admits
Binance.US, the U.S. affiliate of the world’s largest crypto exchange, acknowledged that a market making firm called Merit Peak, which is alleged to have secretly received $400 million from the exchan...
TrueFi token clocks triple digit gain as Binance mints TUSD stablecoin
DeFi lender TrueFi’s token, TRU, jumped over 140% shortly after Binance minted $50 million worth of the TrueUSD stablecoin. Binance minted 49.99 million TRU at around 10 a.m. EST today, ...
Binance transferred $400 million from U.S. partner to Zhao-run firm, Reuters says
Binance secretly had access to a bank account of its U.S.-based partner and transferred more than $400 million from that account to a trading firm managed by Chief Executive Officer Changpeng Zhao, Re...
2023 Edition Sponsored by Amberdata
The Block Research has created “The State of Digital Assets Data and Infrastructure: 2023 Edition” sponsored by Amberdata. To access the full report in PDF format, please fill out the form below: T...
Silvergate hurtles back above $20 with crypto stocks in the green across the board
Markets • February 15, 2023, 5:10PM EST Crypto-related stocks soared in trading on Wall Street today. Silvergate, Coinbase, and MicroStrategy led the way with double-digit gains. Silvergate rose...
Gensler opens new regulatory front for crypto firms: custody
SEC Chair Gary Gensler signaled an escalation to his post-FTX crackdown on the crypto industry on Wednesday, saying that digital asset firms are in broad violation of current custodial rules meant to ...
Judge denies request for FTX bankruptcy examiner
A judge denied a request to appoint an independent examiner in FTX’s bankruptcy case, noting that one would be too expensive when multiple investigations into the troubled crypto exchange are underway...
Warren pledges to reintroduce crypto anti-money laundering bill
Sen. Elizabeth Warren, D-Mass., said she plans to reintroduce legislation with Sen. Roger Marshall, R-Kan., that would extend anti-money laundering laws to a broad array of the cryptocurrency ecosyste...
684 million BUSD burned for redemptions amid US regulatory scrutiny
Just over a day after it categorically denied regulator claims Binance USD (BUSD) is a security, Paxos has burned some 684 million of the stablecoin for U.S. dollar redemptions, on-chain data show. &#...
Coinbase, JP Morgan relationship intact amid regulatory crackdown: Sources
Rising regulatory scrutiny isn’t coming between Coinbase and one of its banking partners, JPMorgan Chase. The cryptocurrency exchange and the Wall Street stalwart are sticking together am...
Bankman-Fried banned from using VPN, bail arguments set for Thursday
A judge banned Sam Bankman-Fried from using a VPN after the former FTX boss said he used a private network to watch the Super Bowl while under house arrest. “The defendant’s use of a VPN present...
Magic Eden lays off 22, about 15% of staff in latests workforce cuts
Magic Eden laid off 22 people as companies across the industry cut staff amid industry-wide cuts. That amounts to about 15% based upon the 141 employees listed on LinkedIn. Magic Eden is the lat...
As bitcoin miners prep for earnings season, all eyes are on treasuries and deployments
With fourth-quarter earnings for bitcoin miners starting, industry experts are closely watching how companies plan to deploy hardware and manage their treasury going forward. 2022 was a lesson i...