‍ARK Invest Prioritizes Crypto, Divests Tesla Holdings ARK Invest, led by Cathie Wood, has increased its stake in BitMine, a company focused on Ether treasury assets, by acquiring 48,454 shares valued at approximately $2 million. This move signals a continued commitment to digital assets. Concurrently, ARK sold roughly 71,638 Tesla shares, valued at around $30 million, reducing a long-standing core holding. These adjustments reflect a strategic rebalancing of ARK's investment portfolio amidst an evolving landscape.
Cryptovka
ARK Invest Shifts Focus: Boosts BitMine, Sells $30M Tesla Shares
Cathie Wood’s ARK Invest has made a notable strategic adjustment to its investment portfolio, significantly increasing its exposure to BitMine, a...
‍Analyst Warns of Risks in Bitcoin's Rapid Surge to $250K Macro analyst Mel Mattison cautions that a swift ascent of Bitcoin to $250,000 within three months could lead to a "blow-off top" and a significant market correction. While some analysts maintain bullish forecasts, Mattison suggests such rapid appreciation would likely trigger profit-taking and a downturn. He views recent market dips as healthy rotations. Diverging opinions exist on Bitcoin's trajectory post-2025, with some predicting a bear market while others anticipate continued growth.
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Analyst Warns: Bitcoin
A rapid appreciation of Bitcoin
‍Fed Official Warns Stablecoin Boom Could Force Monetary Policy Shift A Federal Reserve Board member, Stephen Miran, has voiced concerns that the escalating demand for dollar-pegged stablecoins could compel the central bank to adjust its monetary policy strategies. Miran projects stablecoin issuance could surge to $1-$3 trillion, a figure comparable to the current U.S. Treasury debt. This growth, largely driven by regions with limited access to traditional dollar savings tools, presents an unprecedented challenge for the Fed in maintaining economic stability and controlling inflation.
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Fed Official Warns Stablecoin Boom Could Force Monetary Policy Shift
The escalating demand for dollar-pegged stablecoins is drawing significant attention from top financial authorities, with a Federal Reserve Board m...
‍Bitcoin Hashprice Nears Critical $40, Forcing Miners Towards AI Diversification The Bitcoin mining sector faces significant pressure as hashprice nears $40 per PH/s. This metric, indicating daily revenue per unit of computational power, has declined steadily since July. Razor-thin profit margins, high capital expenditure, and escalating energy costs are compelling miners to explore new revenue streams beyond traditional crypto mining. A prominent trend is the pivot towards artificial intelligence (AI) and high-performance computing (HPC) data centers. Companies like Cipher Mining and IREN have already secured multi-billion dollar deals with Amazon and Microsoft, respectively, for compute power and GPU services, highlighting the lucrative potential of this diversification.
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Bitcoin Hashprice Nears Critical $40, Forcing Miners into AI Diversification
The Bitcoin mining sector is currently navigating significant challenges as its key profitability metric, the hashprice, edges closer to a critical...
‍Jury Deliberates in Ethereum MEV Bot Fraud Trial The trial of brothers Anton and James Peraire-Bueno, accused of orchestrating an MEV bot scheme on the Ethereum blockchain, has seen jury deliberations extend for nearly three days. Prosecutors allege the brothers exploited the network to extract approximately $25 million in cryptocurrency in 2023, using automated programs to present themselves as honest validators. The jury has requested further clarification from Judge Jessica Clarke regarding the brothers' intentions. The defense's requests for a mistrial were denied. The case highlights the legal complexities of prosecuting novel financial crimes within the evolving cryptocurrency landscape.
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Verdict Elusive in High-Stakes Ethereum MEV Bot Fraud Trial
The ongoing trial of brothers Anton and James Peraire-Bueno, accused of orchestrating a significant Maximal Extractable Value (MEV) bot scheme on t...
‍Bitcoin Crash Blamed on Whales & HODLers, Not ETFs A recent historic crypto market crash saw Bitcoin (BTC) prices decline by 20%. While many blamed Bitcoin ETFs, senior Bloomberg ETF analyst Eric Balchunas suggests the primary cause originated "from inside the house" – implicating long-term holders and whales. ETF outflows were minimal, totaling around $722 million for October. In contrast, Bitcoin whales and long-term holders reportedly sold off approximately 400,000 BTC, contributing to market volatility and triggering a massive $20 billion liquidation event. Analysts note that while seasoned holders engaged in profit-taking, interest in crypto ETFs among traditional investors remains robust, signaling a maturation of the crypto market.
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Bitcoin Crash Blamed on Whales & HODLers, Not ETFs: Analyst Reveals Key Sell-Off Source
The recent historic crypto market crash in October, which saw Bitcoin (BTC) prices decline by 20%, has been widely scrutinized....
‍Zcash Price Surges, Nearing 8-Year High Amidst Short Squeeze Zcash (ZEC) has seen a remarkable surge, approaching its highest valuation since January 2018. The privacy-focused cryptocurrency liquidated over $51 million in short positions on Friday, climbing 74% this week. The token appreciated 33% in hours on Friday, reaching nearly $735, before settling around $666. This volatility led to significant liquidations, making ZEC the third-highest for liquidations in the crypto market that day. Zcash has rallied significantly since October, increasing tenfold in five weeks. Despite this, it remains 79% below its 2016 all-time high. Zcash is known for its use of zero-knowledge proofs for anonymous transactions and is the largest privacy-focused crypto by market cap. Analysts attribute the rally to growing concerns over Bitcoin's privacy and decentralization, potentially amplified by the sentencing of a Samourai Wallet developer. This highlights the increasing importance of privacy solutions in the digital asset ecosystem.
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Zcash Price Explodes, Nearing 8-Year High Amidst Massive Short Squeeze
The privacy-focused cryptocurrency Zcash (ZEC) has experienced an extraordinary surge, liquidating over $51 million worth of short positions on Fri...
‍OpenAI Seeks Government Loan Guarantees for AI Infrastructure, Then Denies It OpenAI, in an October 27 letter to the White House, requested federal loan guarantees to expand AI data center capacity. The company cited the need for government intervention to speed up the acquisition of critical components like transformers and cables. However, CEO Sam Altman publicly stated on November 6 that OpenAI neither sought nor desired government financial support for its data centers, calling taxpayer bailouts for bad business decisions unacceptable. This contradiction has drawn criticism, with AI researcher Gary Marcus accusing Altman of dishonesty. This incident adds to previous concerns about OpenAI's leadership's candor.
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Altman Under Fire: OpenAI
The transparency of OpenAI and its CEO, Sam Altman, is once again under scrutiny following revelations that the company explicitly requested federa...
‍Square Enix Utilizes AI, Reduces Workforce While Pursuing Blockchain Gaming Gaming giant Square Enix is increasing its adoption of generative AI to streamline game development, leading to layoffs in its North American and European divisions. The company plans to automate 70% of QA and debugging tasks by the end of 2027, collaborating with the Matsuo Laboratory at the University of Tokyo. This strategic shift complements Square Enix's ongoing Web3 initiatives, including its exploration of NFTs and the Ethereum-based game Symbiogenesis. President Takashi Kiryu emphasized an aggressive approach to generative AI for productivity gains, with AI-generated art already featured in the 2024 game Foamstars. This mirrors broader industry trends, as companies like Ubisoft and EA also invest heavily in AI. The dual focus on AI efficiency and blockchain integration offers a potential model for future digital entertainment, impacting asset ownership and player engagement through technologies like NFTs.
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Square Enix Embraces AI Automation, Cuts Jobs While Pushing Blockchain Gaming
Gaming titan Square Enix, renowned for franchises like Final Fantasy, has confirmed layoffs across its North American and European divisions as it...