On Tuesday, the crypto market was off guard when Cathie Wood’s ARK 21Shares spot Bitcoin ETF (ARKB) experienced a significant outflow. This marked the first time since the introduction of spot Bitcoin ETFs in the United States that one of the “Newborn Nine” surpassed the outflows of Grayscale’s Bitcoin Trust …
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For the past week, crypto exchange KuCoin has been at the center of a regulatory tornado. The charges filed last Tuesday include breaking several regulations and violating anti-money laundering (AML) laws in the United States. A recent report reveals that the exchange has faced significant challenges after the news of …
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Things move fast in the cryptocurrency space, and the landscape tends to change quickly, especially price-wise. This has indeed been the past within the past seven days. It was just a week ago when Bitcoin’s price was soaring high, charting fresh all-time highs almost daily. The latest peak came last …
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The following is a heuristic analysis of GBTC outflows and is not intended to be strictly mathematical, but instead to serve as a tool to help people understand the current state of GBTC selling from a high level, and to estimate the scale of future outflows that may occur. Number …
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Outflows from the Grayscale Bitcoin ETF (GBTC) continue to be the dominant story of the market. The numbers of outflows continue to be enormous. Yesterday, on Tuesday, $515 million flew out of GBTC, for a total of $3.96 billion. Meanwhile, the “newborn 9” saw $407 million in flows. Thus, day …
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On-chain data shows that money from GBTC has been flowing into the newly launched spot Bitcoin ETFs amid very low fee structures. In an exclusive interview with Bloomberg Television from Davos on Wednesday, January 17, Grayscale Investments Chief Executive Officer Michael Sonnenshein defended the 1.5% management fee charged for the …
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Crypto market analyst Adam Cochran also suggests that crypto exchange Binance might be selling a large amount of Tether strategically to counter Huobi. During the last weekend on August 5-6, crypto exchange Huobi witnessed a staggering $64 million in outflows with the exchange’s total value locked (TVL) falling under $2.5 …
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Voyager and Celsius are forging ahead with their bankruptcy plans but only Voyager seems to be making any crypto transfers. Crypto lending firms Voyager Digital and Celsius Network have both received approvals to begin moving their crypto portfolios around. Both bankrupt lenders are still trying to resolve their bankruptcies in …
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A combination of escalating interest rates and a tight regulatory environment in the United States has driven a $417 million outflow from the crypto industry in the past eight weeks, with halts in trading for many altcoins draining liquidity and prolonging the ongoing crypto winter. This environment is forcing crypto …
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Amid the fallout of the Silicon Valley Bank this month, Circle’s USDC stablecoin saw massive outflows which continue to date. The USDC stablecoin has lost 23% market share in less than a month’s time. The collapse of the Silicon Valley Bank (SVB) earlier this month was a major blow to …
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