Kategorie: Crypto News

Daily crypto headlines and news about bitcoin, ether, ripple, solana, altcoins, nft, market, business, analysis, nft, metaverse, minting and mining.
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Cowen expands digital assets team with key crypto-native hires

  • Cowen has hired former Blockchain.com Head of Institutional Development Jackie Rose and ex-Coinbase VP of Digital Asset Sales Chase Campbell.
  • The two join the investment bank’s digital assets unit Cowen Digital LLC.
  • Rose and Campbell are expected to spearhead Cowen Digital’s institutional growth.

Cowen Inc., a US-based multinational investment bank, has expanded its crypto asset arm Cowen Digital LLC via new crypto-native hires, according to details shared in a news release Thursday.

The two appointments involve former executives at crypto exchanges Coinbase and Blockchain.com, the company said, noting that they will be joining Cowen Digital LLC’s institutional sales team.

Cowen Digital eyes new growth areas

Among the executives joining the team is Director of Institutional Sales, Jackie Rose, the former Head of Institutional Business Development at Blockchain.com joins as the Director of Institutional Sales. 

She also has experience from her previous roles at Park Square Capital, The Carlyle Group, and JP Morgan.

Chase Campbell is the new Vice President of Digital Asset Sales at Cowen Digital, joining from Coinbase where he was the Institutional Sales Associate. Campbell was key to Coinbase’s DeFi, NFTs and crypto mining services as well as across traditional finance, including hedge funds, venture capital firms, asset managers, and endowments.

According to Cowen Digital, Rose and Campbell will be critical to the company’s growth initiatives, especially as it looks to expand across new areas within the ecosystem.  

Cowen launched its digital assets arm in March and eyes further expansion over the next five years amid increased interconnectedness between traditional and decentralised finance.

The post Cowen expands digital assets team with key crypto-native hires appeared first on CoinJournal.

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Thailand’s SCBX scraps $500 million acquisition of Bitkub

  • SCBX announced its acquisition of Bitkub in November last year.
  • The Thai Securities and Exchange Commission raised issues over Bitkub’s listing of a token last month.

SCBX Pcl, the oldest commercial lender in Thailand, has pulled out of a deal that would have seen the financial behemoth acquire cryptocurrency exchange Bitkub.

The lender announced that it had scrapped the $500 million acquisition plan on Thursday, reportedly over regulatory related hurdles.

SCBX planned a 51% takeover of Bitkub

A report by Reuters noted that the firm, whose parent organisation is the SCB Group, had taken the step to allow the crypto startup time to sort out all the issues around regulatory compliance.

According to SCBX, Bitkub had not resolved “various issues” relating to the recommendations and orders previously given by the Thai Securities and Exchange Commission. The bank said in a statement it was uncertain when or how long it would take the crypto platform to satisfactorily handle the said concerns.

SCBX announced plans to acquire Bitkub in November 2021, putting forth a deal that would give it a 51% stake in the firm. The firm’s subsidiary, SBCS, would have tapped into the deal to expand the lender’s crypto-related business. 

However, the completion of the deal would be subject to regulatory approvals from the SEC and Bank of Thailand, among other agencies. 

Last month, the Thai securities watchdog raised concerns over Bitkub’s listing of the native KUB token, ordering the exchange to review the process.

Bitkub and SCBX have agreed to the termination of the deal, with the exchange noting it would look to address any unresolved issues.

The post Thailand’s SCBX scraps $500 million acquisition of Bitkub appeared first on CoinJournal.

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Bitgert Price Has Recovered But Beware of a Bearish Pattern

Bitgert price has crawled back in the past few days as investors cheer its ecosystem growth. BRISE, its native token, rose to a high of $0.0000092, which was the highest level since August 7. It has surged by over 162% from the lowest level this year.

Bitgert TVL soaring

Bitgert is a relatively small but fast-growing blockchain project that seeks to become a leading player in the industry. It is an Ethereum-killer that is substantially faster and cheaper to operate. According to its developers, it is able to handle thousands of transactions per second (tps). 

Bitgert is also significantly cheap to operate since it can handle millions of transactions for pennies. Some of the top applications created in Bitgert are Knit Finance, Midas NFT Marketplace, Briseswap, and Icecream Swap among others. $BRISE is the native token for Bitgert’s ecosystem.

Bitgert price has risen in the past few days as investors cheer the sudden growth of its ecosystem. According to DeFi Llama, Bitget has seen its total value locked (TVL) soar from almost zero to over $9 million. 

This growth has been mostly because of Spynx, which has a TVL of over $6 million. IcecreamSwap has a TVL of over $2.1 million. Therefore, analysts believe that the TVL will continue growing in the coming months.

The next key catalyst for the Bitget price will be the upcoming Jackson Hole Symposium event in the United States. In it, Jerome Powell, the Fed Chair, will have an opportunity to talk about interest rates now that inflation has started falling.

Bitgert price prediction

The four-hour chart shows that the BRISE price has been in a strong bullish trend in the past few weeks. As a result, the coin has become one of the best performing in the market. It has rallied above the 25-day and 50-day moving averages. 

Notably, this rally happened after the coin dropped to a low of $0.00000055, which was the lowest point on August 19. At the same time, it seems like it is forming a double-top pattern, which is usually a bearish sign.

Therefore, while the Bitgert price has some upside, there is a likelihood that it will soon pull back because of the double-top pattern. If this happens, the next key support to watch will be at $0.00000078.

The post Bitgert Price Has Recovered But Beware of a Bearish Pattern appeared first on CoinJournal.

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Coinbase introduces liquid staking token ahead of the Ethereum Merge

Crypto exchange Coinbase has launched Ethereum liquid staking token ahead of Ethereum’s migration to a proof of stake protocol.

Coinbase, one of the leading crypto exchanges in the world, announced via a tweet on Wednesday, August 24th, that it has launched its liquid staking token called, Coinbase Wrapped Staked ETH (cbETH).

This latest development comes a few weeks before the Ethereum Merge, an event that will see the Ethereum blockchain migrate to a proof of stake mechanism from its current proof of work.

Coinbase wrote that the Coinbase Wrapped Staked ETH (cbETH) is a utility token that represents ETH2, which is ETH staked through Coinbase. cbETH can be sold or sent off-platform, while ETH2 will remain locked up until a future protocol upgrade.

The crypto exchange added that the price of cbETH is NOT meant to track the price of ETH 1:1. cbETH represents staked ETH plus all of its accrued staking interest, starting from when cbETH’s conversion rate and balance were initialised.

Coinbase added that holders of ETH2 (staked ETH on Coinbase) could “wrap” their ETH2 and receive cbETH through its website. Wrapping functionality will be rolled out to eligible users progressively throughout the day, Coinbase said.

Liquid staking enables investors to generate extra income on top of standard rewards they make for staking or locking coins in a network.

With liquid staking, the locked staked coins are “wrapped” into transferable tokens, representing ownership of the underlying staked assets and any rewards earned.

The tokens generated from liquid staking are fully transferable and can be unwrapped to redeem the underlying staked assets. 

Coinbase intends to generate massive adoption of its cbETH token, which will have several uses following Ethereum’s migration. In its whitepaper, Coinbase said;

“Our hope is that cbETH will achieve robust adoption for trade, transfer, and use in DeFi [decentralized finance] applications. With cbETH, Coinbase aims to contribute to the broader crypto ecosystem through creating high-utility wrapped tokens and open sourcing smart contracts.”

The post Coinbase introduces liquid staking token ahead of the Ethereum Merge appeared first on CoinJournal.

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Skale Network price crawls back as user growth stats soar

Skale Network price bounced back slightly on Thursday as investors waited for Jerome Powell’s statement at the Jackson Hole Symposium. The SKL price rose to a high of $0.063, which was the highest point since August 17. It has risen by about 40% above the lowest level this month.

What is Skale Network?

The smart contract industry is highly competitive, with Ethereum being the market leader. Other top players in the sector are Solana, BNB Chain, and Tron.

Skale Network is a smart contract platform that is changing how this industry operates by giving developers a platform to build applications in all industries. Unlike Ethereum, Skale has zero gas fees and has the possibility of running an unlimited number of fast, on-demand, pooled security blockchains. 

It also enables developers to deploy their own EVM blockchain in minutes without compromising speeds and security. Most importantly, Skale is a fully decentralized platform that is owned by the community. Some of its other features are its on-chain file storage features, modular and linear scaling, and instant finality.

Skale Network price has risen in the past few days because of the strong stats in the ecosystem. Last week, the developers announced that the platform has handled over 3 million transactions. The number has grown to over 3.6 million now. In the past 30 days, it has handled over 2.1 million transactions.

This happened as the number of active users has gone parabolic. In July, it had less than 10k users while in August, the number is approaching close to 20k. This growth has led to a substantial amount of gas fee savings. In August, users have saved over $10 million in gas fees, higher than the $8 million they saved in July.

Skale Network price prediction

The daily chart shows that the SKL price has been in a strong bullish trend in the past few days. It managed to rally from this month’s low of $0.040 to the current $0.054. The coin remains significantly below the important resistance point at $0.092, which was the lowest level in January this year.

Skale is still below the 50-day and 25-day moving averages and it has formed a small inverted head and shoulders pattern. Therefore, the coin will likely continue rising as bulls target the next key resistance point at $0.092.

The post Skale Network price crawls back as user growth stats soar appeared first on CoinJournal.