Mark Palmer News

According to Benchmark’s coverage of Hut 8, a prominent Bitcoin miner with an optimistic “buy” rating and a price target of $12, Hut 8 has a promising future ahead of it.

On Wednesday, Bitcoin price is showing signs of a significant uptrend, currently trading around the $57,200 mark with a notable increase of over 1.25%. This surge comes at a pivotal moment, as industry insiders and investors closely monitor Bitcoin price predictions, especially with the upcoming halving event poised to potentially reshape the market landscape.

Almost 20 private wealth advisers, who together oversee some $3 billion in total assets, walked out Morgan Stanley Wealth Management Australia’s doors on Friday.

Financial analysts at Berenberg view recent reports of Hamas crypto donations as a major stumbling block to the pace of positive crypto regulations globally.

The use of cryptocurrency by Hamas militants to fund recent attacks on Israel may have set back Coinbase’s crypto lobbying efforts in the United States, says a new investment report from Berenberg Capital Markets. 

The United States Financial Accounting Standards Board’s new rules for crypto accounting will eliminate the “poor optics” that plagued companies holding digital assets, according to analysts from Berenberg Capital.

Crypto trading platform Coinbase is poised for better-than-expected, Q2 earnings despite ongoing legal pressure against the firm and other industry giants, analysts say.

Circle’s USD Coin (USDC $1.00) and other stablecoins is expected to face a compliance in case the new national defense bill that passed in the United States Senate is executed, stated Cointelegraph.

Circle’s USD Coin (USDC) and other stablecoins could potentially face a compliance nightmare if a new national defense bill that passed in the United States Senate makes it all the way.

Cathie Wood, the founder and CEO of ARK Investment Management, said she remains bullish over Coinbase in light of Ripple’s partial victory over the Securities and Exchange Commission on July 13. 

The U.S. Securities and Exchange Commission (SEC) is likely to extend its enforcement crackdown to both decentralized finance (DeFi) and stablecoins, wrote Berenberg in a research report published on Tuesday. 

According to a research report by Berenberg Capital, investment bank analyst Mark Palmer believes that Coinbase shares are currently deemed "uninvestable" in the short term due to the ongoing lawsuit filed by the Securities and Exchange Commission (SEC).

Credit ratings agency Moody's has downgraded its rating of Coinbase from “stable” to “negative” following the SEC’s legal action against the crypto exchange for allegedly operating as an unregistered securities broker.

An analyst at Berenberg investment firm believes MicroStrategy is now a safer bet compared to Coinbase due to the exchange's regulatory issues. 

MicroStrategy Inc. began buying Bitcoin in bulk in the summer of 2020, CEO Michael Saylor said it was because inflation would make cash worthless. The crypto pile he has since accumulated was worth $3.4 billion less at the end of the second quarter than the previous one. Technically, the decline is yet another paper loss for the enterprise software maker under US accounting rules until any of the Bitcoin is sold, but there are consequences. MicroStrategy will likely need to take a substantial impairment charge when it reports second-quarter results. And for shareholders, the stock tumbled 66% in the quarter ended Thursday, outpacing Bitcoin’s 59% decline. Saylor has downplayed any concerns, sticking to the strategy and adding to his stockpile last quarter as Bitcoin experienced its biggest price drop in more than a decade. MicroStrategy noted at the end of June that it would report results as normal later in the coming quarter even though Wall Street regulators typically require companies to flag big losses much earlier.

cryptocurrency markets on edge. MictroStrategy, an aggressive investor in bitcoin, said it borrowed $205 million from crypto bank Silvergate Capital in March, with the three-year loan mostly secured against some 19,466 bitcoins. If the bitcoin price dropped below about $21,000 that would trigger a «margin call» or a demand for extra capital, MicroStrategy President Phong Le said in webcast in May.