Today, enjoy the Lightspeed newsletter on Blockworks.co. Tomorrow, get the news delivered directly to your inbox. Subscribe to the Lightspeed newsletter . Howdy! Last night, I went to my third Mets game of the season, and I was unfortunate enough to spot Grimace, the big, terrifying purple lump that’s become the team’s unofficial mascot during
Author: letsdoh
Cryptocurrencies sharply tumbled on Wednesday as rising geopolitical risks captivated investors’ attention after the conclusion of the July Federal Reserve meeting. Bitcoin (BTC) dropped to $64,500 from around the $66,500 level where it traded following Federal Reserve Chair Jerome Powell’s press conference, and was down more than 2% over the past 24 hours. Altcoin majors
Tether has just released its attestation report for Q2 2024, declaring a $5.2 billion profit for the first half of 2024. In Q2 of 2024, Tether generated a net operating profit of $1.3 billion, compared to Q1’s earnings of $4.52 billion, per the report. Tether’s net equity worth also increased by $520 million to $11.9
Last week’s Bitcoin Nashville conference dominated crypto news headlines – largely due to former U.S. President Donald Trump’s campaign speech (and lots of promises) as well as Senator Cynthia Lummis’s call for a national “Bitcoin Strategic Reserve.” (We’ve got the draft legislation .) We wandered around the event for four days while scrambling to cover
A nice thing about watching Olympic swimming is that it’s not too complicated to determine who’s the fastest. Everyone dives into the same pool, there’s some paddling, and at the end of the final lap, one person touches the wall first. The same can’t be said for blockchains, where engineers are always releasing ever more
The stablecoin issuer reported $5.2 billion profit in the first half of 2024. Its U.S. debt holdings amounted to $97.6 billion, surpassing countries including Germany. 01:53 161 Letters of Support for Binance’s CZ; Tether’s Latest $200M Investment 01:11 Why USDT Dominates Supply With Lower Transaction Volume 02:26 DOJ Wants CZ to Serve 3 Years in
The Fed held policy steady, as expected, but the policy statement was more hawkish than most anticipated. At his post-meeting press conference, Chairman Jerome Powell indicated the central bank was “moving closer” to the point where it might cut rates. As expected, the U.S. Federal Reserve left its benchmark fed funds rate range unchanged at
Decentralized finance protocol Aave is seeing a significant spike in whale activity as the market looks to bounce from the recent dump that pushed most altcoins to key support areas earlier this week. On July 31, Lookonchain shared details indicating whales had aggressively accumulated Aave (AAVE) over the past two days. According to the data
Polyhedra Network has announced the open beta launch of its Proof Cloud at the Google ZK Summit. Proof Cloud is designed to make ZK proofs more accessible in both web2 and web3 environments. Supported by Google Cloud, Polygon (MATIC), Linea, and Lita, Proof Cloud aims to meet the rising demand for efficient and cost-effective zero-knowledge
Ki Young Ju has reported a significant rise in limit buy orders for altcoins, signaling a potential rally. This surge suggests that investors are establishing strong buy walls for altcoins, excluding Bitcoin (BTC) and Ethereum (ETH), possibly in anticipation of an impending altcoin rally. “Whales are preparing for the next altcoin rally,” Ju posted on