The Block
Quick Take Shares in several U.S.-traded bitcoin mining stocks are trading sharply higher in Monday’s session. An analyst noted the price of bitcoin is rising “at the same time that enthusiasm for bitcoin mining stocks as plays on the growth of AI has returned.”
Quick Take Bitcoin topped $70,100 at 22:10 UTC, the first time the largest cryptocurrency by market capitalization crossed the $70,000 level in more than seven months,.
Quick Take On Monday, spot bitcoin ETFs in the U.S. experienced net inflows of $479.4 million, the largest daily inflows since Oct. 14. BlackRock’s IBIT led the inflows, with $315 million flowing into the product.
Quick Take BTC has a 60% year-to-date return, compared to the nearly 4X higher return provided by MSTR. The following is an excerpt from The Block’s Data and Insights newsletter.
Quick Take The crypto exchange hired Min Lin, the former regional vice president for Latin America and head of business development at Binance, to drive growth.
Quick Take From my perspective, October also underscored an evolving trend — Wall Street is absorbing crypto’s culture and first principles. This column is adapted from The Scoop newsletter.
Quick Take The crypto lobbyists Blockchain Association and Crypto Council for Innovation are backing apparel firm Beba’s pre-emptive lawsuit filed in March.
Quick Take The two companies aim to develop a blockchain-based customer loyalty solution for merchants in Hong Kong.
Quick Take Truth Terminal founder Andy Ayrey’s X account was hacked, with the perpetrator promoting a token. The token’s market cap soared to over $25 million, followed by a sell-off that netted the hacker $600,000.
Quick Take Kaia, the Layer-1 blockchain from messenger app giants Kakao and LINE, announced its mainnet launch. Kakao’s messenger app of the same name is used by 96% of South Korea, while LINE is the dominant messenger in Japan. Kaia builders will be able to build Telegram-style apps on LINE messenger.
