Overnight, bitcoin reached a new high of $118.5k, carrying some of that momentum we saw yesterday.
| | | | Riding the Wave | Overnight, bitcoin reached a new high of $118.5k, carrying some of that momentum we saw yesterday. Net flows for spot bitcoin ETFs topped $1.175B, making it the second largest day in history. The previous largest was Nov 7, 2024, right after US election, at $1.37B. When or will this stretch end? According to Bitcoin Magazine and data compiled by Coinglass, ~$600M worth of BTC shorts were liquidated in the last 24 hours and over $1.5B worth of short positions are set to be liquidated at $120k BTC mark. Read more → | Investors Push Back on Bitcoin Miner Pay | According to a new report published by Vaneck, bitcoin miner execs are partying like its 2021 and shareholders aren't amused. Average support for executive pay proposals came in at just 64%, far below the S&P 500 and Russell 3000 averages of 90% and 91%. Mining executives continue to grant themselves oversized equity awards that dilute shareholders without reliably linking pay to long-term value creation. Read more → | Big Shift: Shanghai Reconsiders Crypto | In the midst of this week’s excitement and all the adoption headlines we see stateside, it’s easy to forget that mainland China, since 2021, still has a ban on cryptocurrency trading. And while any changes in China may not come easily, Reuters reports that local government officials are now finally mulling over strategic responses to stablecoins and digital currencies. Meanwhile, Bloomberg reports brokerage stocks in China are surging on this newfound crypto trading optimism. Read more → |
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| | Bitcoin boom adds billions to these government holdings Link» Coinbase (COIN) acquires Opyn Markets in 6th acquisition this year Link» Agora (AUSD) Raises $50 Million Link» Head of SEC Crypto Task Force Says ‘Tokenized’ Stocks Are Securities Link» |
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