Grayscale Launches A Staking Fund
Grayscale Launches A Staking Fund
Ethereum Breaks $3,800, Bitcoin ETFs Hits $10B In Trading Volume, Coachella Uses NFT Passes, Binance.US's 2/3 Staff Cut
Welcome to Coinfeeds Daily Digest! Regarding Bitcoin, Grayscale is unveiling its first actively managed fund — a crypto staking fund called GFIF, enabling customers additional income-earning from staking on a more official level. Also, Bitcoin ETFs just hit a record $10 billion in trading volume, and a Bitcoin bridge service OrdiZK has been called out by CertiK as a $1.4 million rug pull that brought its OZK token almost to 0. Binance.US has cut 2/3 of its workforce following the recent SEC lawsuit that had severely impacted its revenue, lender Nexus has gained an initial VARA approval in Dubai, Ethereum broke through $3,800, and Coachella is utilizing NFT passes.
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Grayscale Introduces a Staking Fund
Grayscale, a leading name in digital currency investment, has taken a significant step forward with the introduction of the Grayscale Dynamic Income Fund (GDIF). The GDIF is notable for being Grayscale's first actively managed fund, allowing investors to engage in multi-asset staking through a single investment vehicle. | Read More
Coachella Sets Up NFT Passes For Festival Access
The Coachella Valley Music & Arts Festival, a beacon for music and art enthusiasts worldwide, is once again embracing the digital frontier by incorporating NFTs as part of its access pass strategy. This comes following a less successful attempt in partnership with the now-defunct FTX exchange. The NFTs for this year's Coachella festival are being minted on the Avalanche blockchain. | Read More
Bitcoin ETFs Break $10B Trading Volume Record
The record-breaking trading volume coincided with a period of significant volatility in the Bitcoin market. The price of Bitcoin soared to a new high above $69,000, only to experience a sharp decline of more than 10% shortly thereafter. The spike in ETF trading volume amidst such volatility may suggest a trend of heavy profit-taking by investors. | Read More
Ethereum Breaks $3800, Surpasses Mastercard in Market Cap
Ethereum recently achieved a significant milestone by surpassing the $3,800 mark, a move that saw it overtake Mastercard in terms of market capitalization. This remarkable increase, which saw Ethereum's market cap grow by $30 billion in just a day, underscores the cryptocurrency's robust growth. | Read More
Binance.US Cut 2/3 of Workforce Following Revenue Plunge After SEC Lawsuit
The lawsuit, filed by the SEC in June, accused Binance of mishandling customer funds and offering securities without proper registration. This has not only tarnished the company's reputation but also led to a blow to its financial stability. In the wake of the lawsuit, Binance.US witnessed a dramatic 75% plunge in its revenue, which forced it to lay off two-thirds of its staff, affecting over 200 employees. | Read More
OrdiZK Suffers $1.4M Rug Pull, Token Crashes to 0, CertiK Confirms
OrdiZK was designed to facilitate transactions across Bitcoin, Ethereum, and Solana blockchain. CertiK's investigation revealed that the developers behind OrdiZK had malicious intentions from the start. They consolidated funds into three wallets and used an "emergencyWithdraw" function to drain these funds, being a rug pull. This e caused OZK to drop over 99%. | Read More