Category: Crypto

Marathon Digital (MARA) saw its shares drop over 8% in after-hours trading on Thursday following a second-quarter revenue report that fell short of Wall Street’s forecasts. However, the stock has since recovered some of these losses. Marathon Digital Sees a Revenue Miss Marathon Digital reported second-quarter revenue of $145.1 million, falling short of Wall Street’s forecast of $157.9 million, approximately 9% lower. The company attributed the revenue miss to operational challenges, including unexpected equipment failures, transmission line maintenance at its Ellendale site, an increased global hash rate, and the impact…

JPMorgan Chase chairman and CEO Jamie Dimon recently shared his strong views on what the next United States president needs to do in order to rescue the nation from what he called “the most complicated geopolitical situation since World War II.”  His commentary came in the form of an op-ed published in the Washington Post on Aug. 2 and, by and large, his opinions centered on squashing the internal beef between US politicians of rival parties and the citizens who support them. Instead of perpetuating political tribalism, Dimon says the…

[PRESS RELEASE – Tortola, British Virgin Islands, August 2nd, 2024] Sharpe AI , an AI-powered crypto super-app for traders, has announced the listing of its token $SAI on Gate.io followed by more exchanges starting at 1 pm UTC, 5th August, 2024. The token will be available in the trading pair USDT, setting the stage for a new chapter in AI-powered crypto trading. The anticipation is soaring following the blockbuster success of $SAI’s Initial DEX Offering (IDO) this past April. The IDO shattered all previous records, achieving an astounding 300x oversubscription. With…

Kujira, a decentralized finance (DeFi) platform, recently faced significant challenges after the team deployed operational funds to improve liquidity and activity in the ecosystem. This initiative was met with “exploits, socially engineered attacks and fallouts within the ecosystem,” resulting in rapid sell-offs and market destabilization. According to an official X post, the Kujira team stated that they will post a proposal to establish a decentralized autonomous organization (DAO) called the Kujira Operational DAO. Source: Kujira Related: ‘Golden Boys’ behind Compound ‘governance attack’ agree to rescind proposal Impact and community backlash…

The decentralized finance (DeFi) sector is witnessing a resurgence, marked by growth in key metrics such as active loans and total value locked (TVL) from their 2023 lows. DeFi lending, an important component that enables investors to lend their crypto holdings in exchange for interest, is an indicator of DeFi participation and overall market health. Active Loans Hit $13.3 Billion as TVL Soars By 160% In a recent post on X, crypto market analytics platform Token Terminal reported a notable rise in active loans within the DeFi sector, now reaching…

Our weekly roundup of news from Asia curates the industry’s most important developments. Can the metaverse solve Japan’s “hikikomori” problem? Research and consulting firm Yuri Group estimates that Japan can inject about $10 billion a year into its economy if even 10% of the nation’s 1.5 million hikikomori re-engage in the workforce via the metaverse. “Hikikomori” is a Japanese word for individuals who seek extreme isolation by staying home and withdrawing from social life. It’s a complex social problem that has reduced the nation’s workforce while damaging the mental and…

TL;DR OpenEden is launching tokenized US Treasury Bills on the XRP Ledger. Users will be able to mint such products via stablecoins such as Ripple USD (when it sees the light of day later this year). XRP’s price is down 6% for the day, but a potential resolution in the Ripple v SEC lawsuit could positively affect its value. Tokenized US T-Bills on the XRPL OpenEden – a fintech company focused on bridging traditional finance and DeFi – will introduce tokenized US Treasury bills (T-bills) to the XRP Ledger (XRPL)…

All eyes are on Ethereum as it continues to hold firm to its $2,860 support level, a price point tested multiple times since July 5. According to a Deribit Insights report, Ether (ETH) is poised for a significant upside after the recent approval of United States ETH exchange-traded funds (ETFs). The insights suggest that the strong support witnessed through July indicates high buyer demand, potentially setting the path for highs of $4,500. Related: Ethereum ETFs could reach $10B AUM in first year: Sygnum Bank ETF approval boosts institutional interest After…

TL;DR The Shiba Inu team burned millions of tokens last month. The mechanism aims to reduce supply and potentially boost prices if demand stays strong. SHIB’s price dropped by 4% daily amid a market slump. However, improvements in the Shibarium network could lead to a future rally. The Burning Last Month The team behind the popular meme coin Shiba Inu continues to send tokens to a null address as part of its burning program. Data shows the destroyed tokens reached almost 380 million last month after 178 total transactions. The…

Bitcoin has fallen below $65,000 following a decision from the United States Federal Reserve to keep interest rates unchanged, along with reports of escalating conflicts in the Middle East. On July 31, Bitcoin (BTC) dipped to $64,549, the first time it has fallen below $65,000 since July 25, according to CoinMarketCap data. It briefly spiked to $65,075 before falling back again but hasn’t crossed the key level since. It’s currently trading at $64,470. Bitcoin is up 0.97% over the past 30 days. Source: CoinMarketCap The price movement followed the Federal…