Crypto News
Bitcoin (BTC) Reaches $100K: A Journey from Digital Experiment to Financial Powerhouse
Bitcoin's evolution from a niche computer science project to a global digital asset has been marked by innovation. Explore its journey and impact on the financial world. (Read More)Source link
USDC Issuer Circle Makes Layoffs as Part of Operations Review: Bloomberg
Circle Internet Financial, issuer of the world's second largest stablecoin USD Coin (USDC), has made some layoffs as part of a regular review of its operations, Bloomberg reported on Thursday.The job cuts amount to "less than 6% of Circle's workforce," according to the report, citing a company spokesperson.Circle, which filed for an initial public offering in the U.S. in January, said it had 882 employees in June, so 6% would equate to just over 50 people. "Circle regularly reviews our investments and expenses includes investing in teams and operational infrastructure that need to grow, while marginally reducing spend and some roles in other areas of the business," the spokesperson said.With a market cap of $40.4 billion, according to CoinDesk...
Binance Announces Babylon BTC Staking for On-chain Yields
Binance Earn launches Babylon BTC Staking under On-chain Yields, offering users a new way to earn rewards by participating in on-chain protocols via their Binance accounts. (Read More)Source link
Binance Adjusts Leverage and Margin Tiers for USDⓈ-M Perpetual Contracts
Binance Futures updates leverage and margin tiers for multiple USDⓈ-M perpetual contracts, impacting cryptocurrencies like NEAR, AVAX, and XLM. Existing positions remain unaffected. (Read More)Source link
Market Makers May Keep Bitcoin Around $100K as Overheated Market Faces Pullback Risks
Bitcoin (BTC) and the broader crypto market are witnessing strong demand for bullish leveraged plays, a sign the market is overheated. While market makers' hedging is likely to keep BTC supported at around $100,000, the heightened activity raises the risk of pullbacks for other cryptocurrencies.Bitcoin, the leading cryptocurrency by market value, tapped a record high above $103,000 early Thursday, following President-elect Donald Trump's decision to appoint pro-crypto Paul Atkins as chairman for the Securities and Exchange Commission (SEC).The breakout sent traders chasing the price rally, pushing funding rates for perpetual futures skywards, a sign of growing demand for and overcrowding in long positions. In this scenario, a slight pullback can result in large liquidations (forced selling by exchanges due to...