Genesis Trading Financial News

Web3 gaming platform Elixir Games has raised a $14 million seed funding round from Square Enix, the Solana Foundation and Shima Capital, and others.

Genesis Trading, currently navigating bankruptcy proceedings, has moved 40,000 ETH, $126.8 million, to two separate wallets, signaling possible bankruptcy liquidations.

A cryptocurrency wallet associated with Genesis Trading has transferred approximately $720 million worth of Bitcoin to the Coinbase exchange over the past month, pointing to potential liquidations.

Bitcoin (BTC) is trying to sustain above the overhead resistance of $38,000 for the second consecutive day and start the next leg of the uptrend. The excitement among market observers may have increased after the United States Securities and Exchange Commission (SEC) delayed its decision on the applications of Franklin Templeton and Hashdex exchange-traded funds.

Bitcoin (BTC) may suffer when the first spot exchange-traded fund (ETF) is approved by the United States, a new warning says.

DeFi platform Elixir has secured $7.5 million in a Series A investment fund led by Hack Venture Capital, bringing the protocol’s valuation to $100 million. 

That lull snapped Thursday, when Bitcoin plunged more than 8% in the space of a few hours to a two-month low of $25,314 late in the New York day. The slump sparked a broad decline across all of crypto, leading to more than $1 billion in liquidations and putting Bitcoin on pace for its worst week since November and crypto exchange FTX’s collapse. The carnage — fueled by the prospect of prolonged high interest rates and exacerbated by thin crypto trading — was a reminder of the various threats that continue to stalk digital assets, from hostile regulators to a broader rout in risk assets. And even as Bitcoin has recovered smartly from last year’s lows, many investors are still sitting out, depriving the market of the breadth and depth that are key ingredients for a sustained bull run. “There are still significant amounts of macro uncertainty keeping investors away, and liquidity is still thin,” said Noelle Acheson, author of the “Crypto Is Macro Now” newsletter and former head of market insights at Genesis Trading. “Bottom line, there’s not yet enough conviction.”

lowest point since 2016. That lull snapped Thursday, when Bitcoin plunged more than 8% in the space of a few hours to a two-month low of $25,314 late in the New York day. The slump sparked a broad decline across all of crypto, leading to more than $1 billion in liquidations and putting Bitcoin on pace for its worst week since November and crypto exchange FTX’s collapse.

Worldcoin has no problem attracting eyeballs. More than 2.2 million people have signed up, getting their irises scanned in exchange for a digital ID and, in some countries, free crypto. The new project from ChatGPT founder Sam Altman aims to create a blockchain-based «identity and financial network». Its native coin WLD has kept a steady price between $2 and $2.50 since its launch on July 24, thus far spared the «pump-and-dump» trajectory of many new crypto tokens. The investor jury is out on Worldcoin's prospects, according to Gordon Grant, co-head of trading at Genesis Trading, which isn't offering the token to clients yet. «There are folks that have really taken a view about this project, both with the positive and negative side,» he said.

By Hannah Lang

In the latest episode of The Market Report, Cointelegraph analyst and writer Marcel Pechman discusses the latest change to the BlackRock spot Bitcoin exchange-traded fund (ETF) filing, which adds Coinbase as a “surveillance-sharing partner.“ Some analysts have signaled that the filings by BlackRock, Fidelity and others are responsible for the recent Bitcoin (BTC) rally toward $31,000, but according to Pechman, they’re only partially correct because it doesn’t indicate the United States Securities and Exchange Commission (SEC) will accept any of the ETF filings.

This week on The Market Report, the resident experts at Cointelegraph discuss what artificial intelligence (AI) altcoins are, what their potential benefits are, how they work, and whether they can be a catalyst for a 2023 bull market.

Crypto lending platform Genesis has informed its customers that its withdrawal freeze is likely to last “additional weeks” amid efforts to stave off a potential bankruptcy filing.

The XRP price is largely unchanged today, with its current level of $0.378725 representing a very modest 0.4% rise in the past 24 hours. The altcoin is up by 14% in the past fortnight, but remains down by 16% in the last 30 days, as the ongoing fallout from the FTX bankruptcy continues to weigh down prices.

Bitcoin (BTC) faced a 7.3% drop between Nov. 20-21 as it tested the $15,500 support. While the correction seems small, the movement has caused $230 million in liquidations in futures contracts. Consequently, bulls using leverage came out ill-prepared for the $1.14 billion monthly options expiry on Nov. 25.

The troubled crypto trading firm Genesis is reportedly struggling to raise fresh funds for its lending unit - and may be headed into bankruptcy. 

Bitcoin (BTC) firms’ shares are a major “buy” for asset manager ARK Invest in the midst of the FTX meltdown.

The total cryptocurrency market capitalization dropped by 5% between Nov. 14 and Nov. 21, reaching a notable $795 billion. However, the overall sentiment is far worse, considering that this valuation is the lowest seen since December 2020. 

Bitcoin (BTC) starts a new week still replaying November 2020 after its lowest weekly close in two years.

Following the release of UK inflation figures, the price of Bitcoin remains below $17,000. which was higher than expected Most altcoins in the market have followed suit, as traders remain cautious. 

According to a new report published by blockchain analytics firm Nansen on Nov. 17, bankrupt cryptocurrency exchange FTX was allegedly intertwined with that of crypto trading firm Alameda Research from the very beginning. Both entities were created by crypto businessman Sam Bankman-Fried, who is now being considered for extradition by U.S. authorities for his role in the collapse of the exchange.