The Block
Spot bitcoin ETFs in the U.S. posted $79 million in net outflows on Tuesday.The ETFs had amassed over $2.6 billion in inflows in the past seven trading days through Monday.
Analytics firm Arkham said Tesla’s bitcoin movements last week were “wallet rotations” and that the company still owns about $776.9 million in bitcoin.Arkham noted that some speculated that the movement was to a crypto custodian.Tesla will release its third-quarter earnings results on Wednesday.
Quick Take Magic Eden added BeraChain and ApeChain as its eighth and ninth supported blockchains, respectively. The platform aims to add the Layer 1 network Monad after it goes live on testnet.
Quick Take The Arkansas Republican said he was optimistic that two crypto bills could be considered in the lame duck. Hill spoke on Tuesday during DC Fintech Week about the future of a crypto market structure bill and stablecoin legislation.
Quick Take Tether CEO Paolo Ardoino said the firm was doubling down on communication and transparency during a panel on Tuesday at DC Fintech Week. Tether has faced scrutiny over the years over its stablecoin USDT, which is pegged to the U.S. dollar. Tether says it is working with global regulators.
Quick Take Bitcoin mining difficulty jumped 3.9% to hit an all-time high of 95.7 trillion on Tuesday. The positive adjustment comes after the Bitcoin network reached a record seven-day moving average hash rate of nearly 724 EH/s.
Quick Take Less than two months after rebranding to Sky, the stablecoin-focused DeFi protocol’s founder, Rune Christensen, proposed three options for further brand changes, including returning to the MakerDAO identity. With stablecoins now a $177 billion market, they have arguably become the most dominant application of crypto technology — but what’s next for the industry’s “killer use case?” Karpatkey has closed a $7 million funding round to expand its onchain treasury management services for DAOs and ext
Quick Take The introduction of options on spot bitcoin ETFs is expected to increase volatility for the underlying asset, according to analysts. On Friday, the SEC granted “accelerated approval” to allow for the trading and listing of options of multiple spot bitcoin ETFs.
Quick Take Two days of insightful discussions exploring the convergence of AI and Web3.
