News & Research

Coinbase CEO Brian Armstrong announced that the company plans to launch the first futures product allowing simultaneous investment in U.S. tech stocks and cryptocurrency on Sept. 22.

Gold-based Individual Retirement Account (IRA) provider SmartGold is enabling Americans to place their gold assets on the blockchain to earn yield from decentralized finance (DeFi) protocols, CoinDesk reported. To facilitate this, SmartGold has partnered with tokenization platform Chintai Nexus. Gold held in IRAs can be tokenized on a one-to-one basis on Chintai and used as collateral in DeFi lending markets such as Morpho and Kamino.

Bitfinex analysts predict that BTC could fall below $95,000 in September, suggesting the cryptocurrency will bottom out during the month due to macroeconomic uncertainty. However, the analysts forecast the downturn will not last long, anticipating a rebound in the fourth quarter driven by inflows into exchange-traded funds (ETFs).

According to an analysis by Glassnode, key indicators suggest Bitcoin is not yet near a cycle bottom. While BTC is trading at $110,000, only about nine percent of its supply is currently held at a loss. This contrasts with the previous cycle bottom, when more than 25% of the supply was in a loss position. Glassnode concluded that the current market downturn is therefore relatively shallow.

A whale with the address 0xF4Bd deposited 2,585 ETH, worth $11.32 million, to Binance, realizing an estimated profit of $5.33 million, Lookonchain reported.

Eric Peters, Chief Investment Officer of Coinbase Asset Management, said on the Bankless podcast that he is confident Middle Eastern countries have invested more in Bitcoin than is publicly known. He added that while institutions are entering the Bitcoin market, most are hesitant to buy at current prices, leading them to prefer investing in stocks. Peters explained that these hesitant institutions are more likely to invest in crypto-related infrastructure before making direct investments in BTC.

The Bitcoin network hashrate reached an all-time high in August, averaging 949 EH/s, according to JP Morgan. The firm noted this indicates intensified competition among miners. Analysts Reginald Smith and Charles Pearce estimated that Bitcoin miners earned an average daily block reward of $55,100 per EH/s in August, a 4% decrease from July. Meanwhile, the combined market capitalization of 13 publicly traded U.S. Bitcoin mining companies increased by 23% last month compared to the previous month, also hitting a record high. CoinNess previously reported that the Bitcoin hashrate surpassed one zettahash (ZH/s) for the first time on a seven-day moving average basis.

South Korean crypto exchange Bithumb is currently experiencing an outage, affecting trading on both its web and mobile app platforms.

Kraken announced it is onboarding tokenized stocks, called xStocks, to the Ethereum mainnet in partnership with Backed.

New York Stock Exchange-listed Cleancore Solutions (ZONE) announced it plans to raise $175 million through a Private Investment in Public Equity (PIPE) to invest in Dogecoin (DOGE). The proceeds will be used for a DOGE-focused treasury strategy. Following the announcement, ZONE's stock price has fallen 57.54% from the previous trading day to $2.90.