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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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CME bitcoin futures cross $1 billion in open interest — a new all-time high

CME bitcoin futures cross $1 billion in open interest — a new all-time high

CME Group’s cash-settled bitcoin futures have hit an all-time high open interest of $1 billion. The milestone comes as bitcoin price continues to surge at around $18,000 levels. The spike in the open interest, or the value of outstanding derivative contracts that are yet to be settled, suggests that more money is flowing in the …

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More than 1 billion DAI, the stablecoin of lending protocol Maker, has been created

More than 1 billion DAI, the stablecoin of lending protocol Maker, has been created

The amount of available DAI — the stablecoin tied to the Ethereum-based lending protocol Maker — has surpassed $1 billion, according to available data. DaiStats reports that a total of 1,001,031,052.54 DAI has now been issued. DAI is created when collateral, such as ETH, is locked into a smart contract called a Vault. That DAI …

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Market Wrap: Bitcoin Fails to Reach $16.5K; Wrapped BTC Hits $2 Billion

Market Wrap: Bitcoin Fails to Reach $16.5K; Wrapped BTC Hits $2 Billion

Analysts are bullish on bitcoin’s price but the options market is decidedly bearish on the remaining weeks of 2020. Ethereum’s wrapped bitcoin token crosses $2 billion locked. Bitcoin (BTC) trading around $16,240 as of 21:00 UTC (4 p.m. ET). Gaining 0.30% over the previous 24 hours. Bitcoin’s 24-hour range: $15,971-$16,487 BTC above its 10-day and …

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