Crypto payments firm MoonPay is stepping further into institutional services after acquiring Sodot, a startup focused on digital asset security. Summary MoonPay acquires Sodot in a deal reportedly worth around $100 million, using its key management tech to launch an institutional division. New unit to serve financial institutions across trading, tokenized assets, payments, custody infrastructure,…
A prominent investor is betting big against gold, predicting its price will drop sharply from the current $4,600 per ounce as the Federal Reserve’s FOMC meeting looms. The investor’s bearish stance comes amid rising U.S. Treasury yields and a 99% market expectation that the Fed will hold rates steady at 3.5%-3.75%. The Polymarket contract for…
In XRP news, Ripple’s native token is trading at $1.38, down roughly 1.4% after breaking below a support level that had held for weeks. The question isn’t whether selling pressure is real. It clearly is. The question is whether $1.40 becomes a ceiling that traps price lower, or a level buyers can reclaim before the…
The popular altcoin, PI, has emerged as one of the top performers in the past couple of weeks. Bitcoin’s price dipped below $76,000 yesterday as the war uncertainty continues to build up, but has rebounded by over a grand since then, ahead of the FOMC meeting today. Most larger-cap alts are also slightly in…
South Korea’s Hana Financial Group, POSCO International, and Dunamu have signed a trilateral agreement to deploy a blockchain-based remittance system, with real trade transactions set to begin through POSCO International. Summary Hana Financial, POSCO International, and Dunamu have signed an agreement to test a blockchain remittance system using real trade transactions. The companies said the…
Japanese tankers have crossed the Strait of Hormuz following diplomatic talks with Iran. The odds of Hormuz traffic normalizing by May 15 now sit at 16% YES, up from 14% yesterday. The crossing suggests a small step toward normalizing strait traffic. The Strait of Hormuz traffic normalization market has moved cautiously in response. With 16…
Bitwise’s Matt Hougan said that Strategy’s Bitcoin buying spree, funded through STRC issuance, has driven much of the recent rally. Bitcoin has risen more than 20% from its February lows, trading around $77,000. But market participants are questioning whether the rally can continue. According to Bitwise Chief Investment Officer Matt Hougan, Strategy’s aggressive BTC…
Canada has moved to tighten oversight of cryptocurrency use by proposing a nationwide ban on crypto ATMs while advancing legislation to block digital asset donations in federal elections. Summary Canada has proposed a nationwide ban on crypto ATMs, with CBC News reporting they are widely used in fraud schemes. FINTRAC has identified crypto ATMs as…
Trump has instructed aides to prepare for an extended blockade of the Strait of Hormuz. The odds of the blockade being lifted by May 31 are at 50.5% YES, down from 58% yesterday and 82% a week ago. ## Market reaction The report knocked expectations of a quick resolution. With 32 days left until resolution,…
Bitcoin is trading around $76k as April draws to a close. It is sitting at one of the most technically loaded junctures of its entire corrective phase. After clawing back from the February low near $60k, BTC has quietly rebuilt momentum through the mid-$70ks, and with whale-sized spot accumulation now clustering at current levels, the…
