Coinbase published its Q1 2021 earnings today, which showed that the exchange hit the targets it set in its estimated results this March. According to its investor letter, Coinbase saw strong results thanks to its public debut and the ongoing growth of the crypto industry: "The wind is in our sails ...
Cryptocurrency exchange Binance is reportedly facing an investigation by the U.S. Internal Revenue Service as well as the Department of Justice, according to a report by Bloomberg. According to the report, officials from the DOJ and the IRS have "sought information from individuals with insight into...
On May 13, dTrade announced the closing of its seed funding round, which saw $6.4 million in investment from Three Arrows, DeFiance, Huobi and Polychain.  DTrade aims to be the first derivatives exchange built on Polkadot. A press release shared with The Block said that it enables leveraged derivati...
The Grayscale Bitcoin Trust (GBTC) product, which has been consistently trading at a discount for almost three months, hit a new record low on Tuesday. GBTC's discount hit -20.48% — its lowest point in history, according to data compiled by The Block. The discount means the market price of GBTC shar...
Point72, the hedge fund founded by billionaire Steve Cohen, is set to make a sizable entrance into the crypto market, according to several people familiar with the firm's business.  Point72 — which managed as much as $17 billion as recently as July 2020 — is said to be taking a very holistic approac...
Stablecoin issuer Tether, for the first time since its launch in 2014, has revealed a breakdown of its reserves. The breakdown, shared with The Block on Thursday, is dated as of March 31, 2021. It shows that Tether held nearly 76% of its reserves in cash and cash equivalents and other short-term dep...
Bitcoin's mining difficulty, a measure of the network's security and how hard it is to compete for block rewards, has just adjusted to a new high. Data sources from BTC.com and Poolin show that bitcoin's mining difficulty adjusted to 25.05 Trillion around 9:00 UTC on Thursday at block height 683,424...
The price of bitcoin has dropped below $50,000 again while $2 billion worth-of crypto futures long positions have been liquidated over the past hour. Data shows that the price started to plunge around 22:00 UTC time on Wednesday and dropped to as low as $46,000 on Coinbase Pro. It has quickly bounce...
Tesla CEO Elon Musk posted a tweet Wednesday evening announcing that Tesla will suspend vehicle purchases using bitcoin due to concerns over the environmental impact of the cryptocurrency. "We are concerned about the rapidly increasing use of fossil fuels for Bitcoin mining and transactions, especia...
Ethereum creator Vitalik Buterin sold large amounts of three meme tokens on Wednesday that he was given for free. Buterin then used proceeds of the sales to support a range of charities, according to public blockchain data. Buterin was given the tokens through a rather unusual token distribution str...

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