billion

Why MetaKovan, the buyer of the $69 million Beeple NFT, thinks the token is actually worth $1 billion

Why MetaKovan, the buyer of the $69 million Beeple NFT, thinks the token is actually worth $1 billion

Quick Take A crypto billionaire who goes by the name MetaKovan recently paid $69 million for an NFT by the digital artist Beeple. Who is MetaKovan and why does he think this art is actually worth $1 billion? This feature story is available to subscribers of The Block Daily. You can continue reading this Daily …

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Ether price hits new highs above $2,560, market cap nearing $300 billion

Ether price hits new highs above $2,560, market cap nearing $300 billion

Ethereum’s price has hit new all-time-highs over $2,560 on Coinbase Pro. The price of the second-largest cryptocurrency by market capitalization jumped above the $2,500 level for the first time around 10:30 UTC on Thursday. The price growth continued to above $2,560 and is changing hands around $2,540 as of press time, which represents a 13% …

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Bitcoin plunges to $52,000 as $7.6 billion in crypto long positions liquidated

Bitcoin plunges to $52,000 as $7.6 billion in crypto long positions liquidated

$7.6 billion in crypto long positions have been liquidated over the past hour as bitcoin’s price plunged to $52,000, data from bybt.com shows. Bitcoin’s price began to trend downwards early Saturday, but the steep plunge began around 3:00 UTC on Sunday.  Bitcoin’s price dropped by more than 10% over the past hour, from $58,000 to …

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Creator of hit NFT project NBA Top Shot poised to net $250 million in round led by $25 billion firm

NFT platform development startup Dapper Labs valued at $7.5 billion

Dapper Labs, the NFT development platform behind NBA Top Shot, is raising money at a $7.5 billion valuation in a round led by Coatue Management, according to the tech news publication The Information.  The three-year-old Dapper Labs had just completed a $305 million funding round on March 30, which valued Dapper at $2.6 billion. That …

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Bitcoin mining chipmaker TSMC to invest $100 billion over three years to grow its capacity

Bitcoin mining chipmaker TSMC to invest $100 billion over three years to grow its capacity

Taiwan Semiconductor Manufacturing Company (TSMC), the world’s largest contract chipmaker that counts the world’s bitcoin hardware designers among its clientele, plans to invest $100 billion over the next three years to grow its capacity. “TSMC expects to invest USD$100b over the next three years to increase capacity to support the manufacturing and R&D of advanced …

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MicroStrategy adds another $1.02 billion worth of bitcoin to its balance sheet

MicroStrategy adds another $1.02 billion worth of bitcoin to its balance sheet

The publicly-traded company MicroStrategy now owns just over 90,000 BTC after spending approximately $1.026 billion to purchase 19,452 BTC, according to a Wednesday announcement. In a statement, MicroStrategy said that it “purchased an additional approximately 19,452 bitcoins for approximately $1.026 billion in cash at an average price of approximately $52,765 per bitcoin, inclusive of fees …

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A $150 billion investment unit of Morgan Stanley is exploring bitcoin: report

A $150 billion investment unit of Morgan Stanley is exploring bitcoin: report

Counterpoint Global—a unit of Morgan Stanley Investment Management—is exploring whether it will make a bet on bitcoin, according to a Bloomberg News report.  Citing sources, the report said that the unit, which manages $150 billion, would need approvals from the wider firm and regulators to make such an investment. Still, it represents Wall Street’s broader …

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Creator of hit NFT project NBA Top Shot poised to net $250 million in round led by $25 billion firm

Creator of hit NFT project NBA Top Shot poised to net $250 million in round led by $25 billion firm

Quick Take NFT-focused startup Dapper Labs is raising $250 million in a new funding round led by Coatue Management. The round comes amid a period of rapid growth for its NBA Top Shot NFT product. This feature story is available to subscribers of The Block Daily. You can continue reading this Daily feature on The …

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Raoul Pal explains why he isn’t surprised by bitcoin’s correlation to stocks

Guggenheim opens door to bitcoin exposure for $5 billion macro fund via Grayscale’s GBTC

Guggenheim Partners, the $200 billion-plus asset-manager, could be the latest Wall Street firm to allocate capital to the cryptocurrency market, as per a filing.  The firm, which invests across asset classes on behalf of companies, pension funds, and sovereign wealth funds, wrote in a filing on November 27 that it might “seek investment exposure to …

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