In perhaps the strongest sign of a major transformation in the art market, Pace Gallery plans to announce Thursday that it is reducing its roster by 50 artists and its staff by 50 people, indicating that even a well-established gallery must downsize in this difficult economic climate. “The whole art system of art galleries has […]
Pace Gallery Cuts 50 Artists and 50 Staff Amid Art Market Challenges Read More »
Panic has returned to the crypto market, as bitcoin continues its decline to $62,000, spurring demand for options bets that protect against possible price losses below $50,000. Over the past 24 hours, the $50,000 strike put expiring on June 26 is the most traded bet on Deribit, the world’s largest crypto options exchange by volume.
Bitcoin Crashes to $62,000 as Billions of Longs Are Liquidated Read More »
Bitcoin plunged below $62,000 on Thursday morning Hong Kong time, triggering more than $1.5 billion in leveraged cryptocurrency liquidations in the past 24 hours, as a wave of forced selling accelerated the market’s biggest decline in months. According to CoinGlass data, more than 208,000 traders were liquidated across crypto markets, with bitcoin accounting for more
Bitcoin Falls Below $62,000 as $1.5 Billion of Crypto Longs Are Wiped Read More »
Bitcoin BTC$62,801.32 Losses were extended early Thursday, falling to $63,000 for the first time since February 24. The cryptocurrency has lost more than 14% this week alone and 21% over the past four weeks, according to CoinDesk data. The selling triggered demand for protective options plays, pushing the fear gauge, the BVIV 30-day implied volatility
Bitcoin selloff continues as prices slip below $63,000 for first time since February Read More »
Crypto-backed super PACs swept Tuesday’s primaries, with all 11 candidates backed by Fairshake affiliates advancing or winning their races, extending the industry’s electoral winning streak while revealing a strategy increasingly focused on building Democratic allies rather than supporting established crypto champions. The results covered nine California congressional elections, New Jersey’s 8th District and South Dakota’s
Global payment networks Stripe, Visa and Mastercard are set to introduce a new stablecoin platform, according to three people familiar with the plans. US-listed cryptocurrency exchange Coinbase (COIN) is also exploring the possibility of participating in the stablecoin platform, one of the people said. Coinbase, Stripe and Visa declined to comment. Mastercard did not respond
BitMine Immersion Technologies (BMNR), an Ethereum treasury company led by Fundstrat co-founder Tom Lee, is borrowing a page from Strategy’s funding playbook and launching a $300 million preferred stock offering as crypto treasury companies look for new ways to obtain funding. According to a filing Wednesday with the U.S. Securities and Exchange Commission (SEC), the
SpaceX plans to price its IPO at $135 per share in a deal that would raise a record $75 billion and value the company at $1.75 trillion, the company said in a filing with the U.S. Securities and Exchange Commission. The aerospace company plans to sell 555.6 million shares in the offering, according to the
Grayscale announced Wednesday that it has launched a hyperliquid exchange-traded product (ETP) (HYPE) with the lowest fees among its U.S.-listed competitors, escalating a price war in one of crypto’s newest and fastest-growing ETF categories. The asset manager announced the Grayscale Hyperliquid Staking ETF (HYPG) on Nasdaq, revealing a sponsor fee of 0.29% and confirming the
At some point, progress on the crypto industry’s top policy priority – the Digital Asset Market Clarity Act – becomes an insurmountable math problem, with too little time in the US Senate’s work schedule to allow for its passage. But the bill has now been formally proposed in the Senate, and industry lobbyists are still
