Category: crypto

Sygnia Ltd, a $20 billion asset manager in South Africa, is advising clients not to concentrate their portfolios in Bitcoin despite strong demand for its crypto fund. The firm recommends not committing more than 5% of assets to the Sygnia Life Bitcoin Plus fund due to extreme volatility and potential financial losses.

Bitcoin traded at $112,623, potentially retesting $105,500 support after losing $115,000 post-Fed rate cut. Profit-taking triggered pullback, exposing sensitivity to leverage. On-chain data shows $115,200 as significant level, crucial for demand. Futures market played key role in recent price action. Long liquidations spiked post-pullback. Market dynamics depend on maintaining key levels.

Nine House Financial Services Committee members urged the swift implementation of President Donald Trump’s executive order enabling cryptocurrency investments in 401(k) retirement plans. The bipartisan coalition supports expanding access to alternative assets to help secure dignified retirement outcomes for 90 million Americans. The SEC is encouraged to assist the Department of Labor in making necessary…

Arthur Hayes, co-founder of BitMEX, sold 96,600 Hyperliquid tokens for $5.1 million, sparking concerns. Maelstrom cited upcoming token unlocks as a risk factor. Rising competition from platforms like Aster poses a challenge for Hyperliquid. Despite the sale, Hayes still believes HYPE could see significant gains by 2028.

Last week, the Federal Reserve’s decision to cut interest rates led to $1.9 billion of new investments in digital asset funds. Bitcoin saw the most inflows, with $977 million. Ethereum also attracted significant investments, reaching a record $40.3 billion in assets under management. Altcoins like Solana and XRP also saw inflows.

Asset manager Strive has agreed to acquire Bitcoin-focused Semler Scientific in an all-equity deal. Each Semler share will convert into 21.05 Strive shares, valuing Semler at $90.52 per share. The merger aims to monetize Semler’s diagnostics line and expand preventative diagnostics. Strive also acquired 5,816 Bitcoin, increasing its treasury to 5,886 BTC.

Binance founder Changpeng Zhao’s view on memecoins changed after receiving millions in crypto donations for his education initiative, Giggle Academy. The project surpassed $2.4 million in contributions within days, with 90% coming from a memecoin project called Giggle. Despite not knowing its creators, Zhao acknowledged the unique utility of memecoins.

Bitcoin price traded near $113,000 on Monday after a weekend liquidation that wiped over $1 billion in leveraged longs. Derivatives and macro factors are central to the next move. Futures saw forced unwinds, with open interest decreasing. Options repriced the shock, with potential for a snap-back squeeze or a second flush scenario. Liquidity and participation…

Crypto.com CEO Kris Marszalek denied allegations of failing to disclose a 2023 security incident, dismissing it as misinformation from uninformed sources. Bloomberg had reported that the exchange experienced a cyberattack linked to Scattered Spider, which targeted employees for login credentials. Marszalek emphasized the company’s transparency and regulatory compliance in reporting incidents.

During Asian trading hours, crypto prices dropped by nearly 4%, with Bitcoin falling by over $4,000. Ethereum and XRP also saw declines. Analysts had warned of potential risks, pointing to signs of cycle exhaustion in Bitcoin. The drop led to $1.7 billion in liquidations, highlighting the volatility of the crypto market.