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Robinhood (HOOD) and Coinbase (COIN) plunge into crypto stock rout, outpacing bitcoin (BTC) decline

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Crypto-related stocks are slumping on Wednesday, with stock markets taking the hardest hit after Robinhood’s revenue shortfall and escalating tensions between Iran and the United States. Robinhood (HOOD), a crypto-friendly digital brokerage, plunged nearly 14% after reporting a nearly 47% drop in first-quarter crypto-related revenue late Tuesday. The weakness spread across the sector as investors […]

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What’s next as Bitcoin (BTC) Coinbase Premium turns negative after 3 weeks

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The American supply which fueled the April increase is fading. Bitcoin BTC$75,815.99 Coinbase Premium, the difference between the price on Coinbase (COIN) – which primarily caters to US customers – and on offshore exchanges, turned negative this week for the first time since early April, according to data from CryptoQuant. The metric was consistently positive

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Visa (V) Expands Stable Settlement Network as Volume Hits $7 Billion

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Visa (V) is expanding its stablecoin campaign by adding support for five additional blockchains, while building on a multi-chain approach to global payments. The payments giant said Wednesday that its stable settlement pilot now spans nine networks and has reached an annualized run rate of $7 billion, up 50% from the previous quarter. The program

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Wall Street Launches First-Ever U.S. Election Prediction Market ETFs

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Roundhill Investments is set to launch the first US exchange-traded funds (ETFs) linked to prediction markets next week, while two other asset managers prepare similar products. According to a filing with the U.S. Securities and Exchange Commission (SEC), Roundhill will list six funds tied to Democratic or Republican control of the White House, Senate and

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DeFi absorbs $292 million shock as AAVE-led bailout stabilizes markets: Standard Chartered

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Decentralized finance (DeFi) has been “bent, not broken” after a $292 million exploit on April 18 revealed systemic risks, according to investment bank Standard Chartered. The attack on KelpDAO spread to AAVE, the largest DeFi lender, after stolen tokens were used as collateral to borrow other assets. The episode triggered a sharp liquidity crisis, with

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Startup Fence aims for backend of $6 trillion credit market

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A $20 million funding round led by Mike Novogratz’s Galaxy Digital (GLXY) supports the drive to use blockchain behind the scenes to restructure the $6 trillion asset-backed financial market, where many transactions still rely on manual workflows. The round, which included Parafi Capital and Crane Ventures, was awarded to Fence, a startup software for managing

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Bitcoin (BTC) trading volume is declining rapidly. It Rarely Ends Smoothly: Crypto Daily

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Even if calls for Bitcoin BTC$76,998.28 As prices rise, spot market participation cools, leaving the door open for erratic price action. Trading volume, the dollar value of BTC changing hands in a day, has recently fallen to less than $8 billion, according to Glassnode. This is the lowest since October 2023, when bitcoin cost less

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Bitcoin (BTC) price holds key support as market eyes next move towards $80,000

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Bitcoin BTC$77,606.09 is trading around $77,700, up 1.8% since midnight UTC, after rebounding from $75,650, a price that had served as an upper barrier during last week’s rally. The rebound suggests a bullish shift, with $75,650 now serving as support – a level that could prove crucial if Bitcoin is to make another attempt at

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