Bitcoin sees sharp decline in correlation with tech equities, Kaiko says

The correlation between Bitcoin (BTC) and Nasdaq 100 reduced this month after reaching a record of .8 last month, according to a new Kaiko report. While Nasdaq closed the week on a positive note of over 7%, Bitcoin continues to trade in the $21,000 range. But Bitcoin remains mostly uncorrelated to the asset it has…

FTX debunks rumors of M&A conversations with Robinhood

Crypto exchange FTX denied media speculation that it is looking to acquire Robinhood, Reuters reported. The statement was made after a June 27 Bloomberg News report claimed the U.S.-based company was in discussions with Robinhood but had yet to make an offer. M&A rumors FTX CEO Bankman-Friend, in a statement issued to TechCrunch, said the…

Why dYdX is leaving Ethereum and StarkWare for a native chain on Cosmos

đź‘‹ Want to work with us? CryptoSlate is hiring for a handful of positions! The order book decentralized exchange, dYdX, is leaving the Ethereum blockchain to set up a native chain on the Cosmos ecosystem. The move is a surprise as the project defines itself as offering “advanced cryptofinancial products, powered by the Ethereum blockchain.”…

Coinbase to launch Advanced Trade as a replacement for Coinbase Pro

đź‘‹ Want to work with us? CryptoSlate is hiring for a handful of positions! Coinbase, the largest crypto exchange in the U.S., is looking to discontinue Coinbase Pro and integrate its features into its mobile app and website through Advanced Trade, the company announced June 23. According to the announcement, the current setup forces users…

The worst is yet to come for the crypto market, experts say

đź‘‹ Want to work with us? CryptoSlate is hiring for a handful of positions! The cryptocurrency market is going through dire turmoil this week, along with the traditional stock market. As bad as things seem, experts told Cryptoslate that the worst is not over yet. Russell Thomson, CEO of digital asset management firm LibertyRoad Capital,…

Finblox becomes latest crypto lending platform to report difficulties

đź‘‹ Want to work with us? CryptoSlate is hiring for a handful of positions! Crypto savings platform Finblox posted a Twitter statement on June 16 informing users of a freeze on rewards and the imposition of a daily withdrawal limit. The notice refers directly to the unfolding situation at Three Arrow Capital (3AC), which is…

Avenue Capital CEO expects crypto selloff to continue till year end

đź‘‹ Want to work with us? CryptoSlate is hiring for a handful of positions! The bearish sentiment in the crypto market is expected to continue until the end of 2022, Avenue Capital Group CEO Marc Lasry told Bloomberg. In a June 15 interview, Lasry said it is impossible to time a bottom. According to him,…

MicroStrategy’s shares plunge in massive rout of crypto-related stocks

đź‘‹ Want to work with us? CryptoSlate is hiring for a handful of positions! The latest crypto market crash has seen the stocks of crypto-related companies take a sharp dive. Business intelligence company MicroStrategy’s (MSTR) stock led the selloff, plunging 28% in premarket trading today. This is the largest drop in the company’s stock over…

FTX trading volume surpasses Coinbase in record month

đź‘‹ Want to work with us? CryptoSlate is hiring for a handful of positions! The spot Bitcoin trading volume on FTX has surpassed Coinbase for the first time, hitting $30 billion in a single month. Tushar Jain, Co-Founder of Multicoin Capital (owners of FTX), shared the below chart highlighting the moment FTX passed Coinbase in…

Salesforce trials NFT service amid plunging trading volumes

đź‘‹ Want to work with us? CryptoSlate is hiring for a handful of positions! Bloomberg reported that American cloud-based software company Salesforce is piloting a new non-fungible token (NFT) cloud service for minting, managing, and selling NFTs. The service is titled NFT Cloud and seeks to streamline the NFT experience for consumer brands. Specifically, the…