The London-based firm, managing over $30 billion in assets, announced a nearly $500 million investment in Bitcoin ETFs, highlighting the growing institutional interest in cryptocurrency ETFs in 2024.

A regulatory filing with the U.S. Securities and Exchange Commission revealed that Capula Management has acquired substantial holdings in two major Bitcoin ETFs: Fidelity’s Wise Origin Bitcoin Trust (FBTC) and BlackRock’s iShares Bitcoin Trust (IBIT).

As of June 30, Capula held 4,022,346 shares of FBTC, valued at approximately $211 million, and 7,419,108 shares of IBIT, worth about $253 million, bringing their total investment to $464 million.

Let’s talk about the rollercoaster week Bitcoin’s been having—seriously, what a mess! As if the crypto world wasn’t already chaotic enough, between July 31 and August 2, Bitcoin ETFs experienced net outflows of almost $175 million!

That’s right, $175 million just up and vanished, showing us just how volatile and unpredictable this market really is. And people are still asking, “Is the Crypto Bull Run Really Over?” With numbers like these, it sure feels like we’re getting there!

But here’s the kicker: even with all this turbulence, big players like Millennium Management are diving headfirst into the Bitcoin ETF pool, holding nearly $2 billion earlier this year.

The post Hedge Fund Titan Capula Management Makes $500 Million Bet On Bitcoin appeared first on Tech Business News.

The move aligns with Uber’s ongoing efforts to innovate and offer more convenience and choice to its customers, drivers, and partners.

Khosrowshahi highlighted that Uber already accepts various forms of digital payments, including credit cards, PayPal, Venmo, and Apple Pay.

Adding cryptocurrencies, he said, would be a natural progression in their payment strategy. However, he clarified that Uber does not intend to hold or invest in cryptocurrencies but aims to give users the flexibility to pay with their preferred method.

The CEO also mentioned that Uber is closely monitoring regulatory developments and addressing the technical challenges associated with cryptocurrencies. The company is also collaborating with experts and partners to ensure a smooth and secure rollout.

While Khosrowshahi confirmed that Uber will “definitely” accept Bitcoin and crypto payments in the future, he did not specify a timeline or indicate which cryptocurrencies would be supported.

However, it is anticipated that Uber will introduce a world-class cryptocurrency wallet app as part of this initiative.

The post Uber CEO Dara Khosrowshahi Says It Plans To Integrate Bitcoin As A Payment Option appeared first on Tech Business News.

On Thursday, Robinhood announced that it anticipates the final transaction value to be around $200 million, with the deal expected to close in the first half of 2025.

Renowned for democratizing stock trading, Robinhood has been gradually intensifying its focus on cryptocurrencies. Over the years, the company has introduced support for several major cryptocurrencies, including Bitcoin.

However, regulatory scrutiny in the U.S. led to the restriction of certain cryptocurrencies on its platform last year.

A Strategic Move for Crypto and Global Growth This acquisition underscores Robinhood’s commitment not only to the cryptocurrency sector but also to its international expansion ambitions.

The California-based company rolled out its core stock-trading service in the U.K. last November, followed by the introduction of crypto trading in the European Union (EU).

Founded in Europe in 2011, Bitstamp is one of the world’s oldest cryptocurrency exchanges, catering to both individual and corporate traders. In 2018, the Belgian investment firm NXMH acquired Bitstamp, and last year, Ripple also purchased a stake in the company.

The post Stock-Trading App Robinhood Acquires Global Crypto Exchange Bitstamp For $200M appeared first on Tech Business News.

The survey sample is nationally representative by age, gender, location, and income, making it one of the most comprehensive studies on this topic in Australia.

The report indicates that younger generations, particularly millennials and Gen Z, are at the forefront of crypto adoption, driven by their familiarity with digital technology.

High-net-worth individuals and professionals in technology and finance sectors also show significant interest. The average crypto portfolio among these investors is valued at AUD $21,426, suggesting that those involved in crypto trading are typically sophisticated investors.

Despite the rising interest, Australia trails behind other countries in actual crypto ownership, with only 9% of Australians having held crypto in the past year, compared to a global average of 11%.

A lack of understanding and confidence are major barriers, with many Australians finding crypto too complex or being deterred by the current economic climate and living costs. This is reflected in the 35% of crypto owners and 34% of non-owners who feel they lack sufficient funds to invest.

AvaTrade Australia emphasises the importance of education in the rapidly evolving world of cryptocurrency trading, offering a range of comprehensive resources such as tutorials, and expert analyses to ensure that traders are well-equipped

The post Australia’s Interest In Crypto Is Growing With A Notable Shift In Financial Habits  appeared first on Tech Business News.

According to Ashish Singhal, Co-Founder and Group CEO, PeepalCo the new structure is designed to unlock the full potential of our organisation and align our resources more effectively.

We will focus on capital allocation and PeepalCo will guide us in the journey forward, to democratise wealth-creation for India,” says Singhal,

New Business Head To Lead PeepalCo’s CoinSwitch Division

Balaji Srihari, with prior experience managing CoinSwitch apps, has been appointed as the Business Head to lead PeepalCo’s CoinSwitch division. In the upcoming months, PeepalCo is set to unveil initiatives aimed at significantly expanding its range of offerings.

The company’s proactive approach aligns with the current state of the Web3 sector in India, which remains largely unregulated. Recent updates from government sources suggest that concrete regulations for the crypto sector might still be up to 18 months away.

In response to a decline in user engagements, CoinSwitch recently streamlined its customer support team. To enhance platform interactions, CoinSwitch introduced a new feature called ‘Earn.’

This feature enables users to ‘lock-in’ their crypto assets, earning rewards in the form of cryptocurrencies and monetizing their holdings without the need to sell their assets.

The post India’s Popular Crypto Trading Platform CoinSwitch Announces New Umbrella Brand PeepalCo appeared first on Tech Business News.

According to WazirX Vice President Rajagopal Menon, Bitcoin is facing mounting liquidation concerns, with $66.29 million (roughly Rs. 552 crore) liquidated in the past 24 hours, a substantial portion — $46.58 million (roughly Rs. 388 crore) — attributed to long liquidations.

“The 10-day moving averages echo the prior day’s sentiment, leaning toward a ‘Sell.’ Notably, the value of liquidations per percentage point has notably decreased in 2023 compared to 2021, signalling market maturation over the past two years,” says Menon

Following Bitcoin’s lead, Ether also experienced losses on Tuesday, with a 0.42 percent decline, trading at $2,229 (roughly Rs. 1.85 lakh). Ether witnessed $34.64 million (approximately Rs. 288 crore) in liquidations in the last 24 hours, with the majority attributed to long position liquidations.

In addition to BTC and ETH, various other cryptocurrencies, including Tether, Ripple, USD Coin, Dogecoin, Chainlink, and Polygon, are trading in the red. Shiba Inu, Litecoin, Bitcoin Cash, Stellar, and Uniswap are among other cryptocurrencies incurring losses.

The overall crypto market cap decreased by 0.32 percent in the last 24 hours, reaching $1.57 trillion (approximately Rs. 130,90,448 crore) according to CoinMarketCap.

The CoinDCX research team shared their perspective, stating, “While it initially seemed like a market shakeout signaling a potential recovery, more confirmations are needed. The ongoing correction might be a bear trap, constituting a healthy adjustment within the broader bullish trend established in recent months.”

The post Bitcoin Falls To $41,840 While Market Volatility Persists appeared first on Tech Business News.

While this delay was expected by some experts, it has still stirred discussions among investors about the potential implications for the cryptocurrency market.

Analysts widely predicted that the SEC would defer its verdict on the Bitcoin ETF application. Despite the delay, experts maintain a 75% probability of eventual approval. The anticipation has kept intelligent market participants vigilant, expecting that the green light for the ETF could catalyze a surge in Bitcoin prices.

The current state of the cryptocurrency market is of particular interest to investors. Bitcoin, the leading digital asset, had been trading around $25,000 when Blackrock submitted its ETF application.

This level is now being seen as a crucial support level, potentially acting as a floor for any significant corrections. Given this perspective, market watchers believe that any downward movement toward the $25,000 mark could present an opportune moment to enter the market and capitalise on potential future gains.

Recent market movements have validated this approach. Just last week, an article titled ‘Seizing Opportunity! Why Investors Should Buy Bitcoin Now’ urged readers to consider buying Bitcoin while it was trading below $26,000.

Following the release of the report, Bitcoin managed to rally by around 5%, reaching $27,300. However, this upward momentum was short-lived as news broke that the SEC had postponed its decision until October 2023. The unforeseen announcement prompted a swift reversal of gains, highlighting the sensitivity of the cryptocurrency market to regulatory developments.

The post SEC’s Decision Delay Spurs Speculation as Bitcoin Holds Ground at $25,000 appeared first on Tech Business News.

Notably, the $29,600 level posed a significant challenge, as mentioned in a previous post. The bears appeared to staunchly defend the 50% Fibonacci retracement level, which measured from the upward wave’s peak at $30,334 to the low at $28,880.

Bitcoin price initiated a new downtrend, falling below the crucial $29,400 level. The decline was marked by a break below a significant bullish trend line, which had found support around $29,300 on the hourly chart of the BTC/USD pair.

At present, the price is trading below both the $29,300 level and the 100 hourly Simple Moving Average, signifying a challenging path ahead.

The immediate resistance lies around the $29,300 level and the 100 hourly Simple Moving Average. However, the first major resistance zone remains firmly positioned near the $29,600 level.

After surpassing the $29,600 resistance, the next significant obstacle for Bitcoin’s price lies near the $29,800 level. Alternatively, this resistance marks the 61.8% Fibonacci retracement level, calculated from the upward wave starting at the $30,334 swing high and ending at the $28,880 low.

Beyond the $30,000 zone, the following major hurdle appears at approximately $30,400, suggesting another critical level for Bitcoin’s further upward movement.

The post Bitcoin Price Struggles To Rise Above The $29,300 Resistance Level appeared first on Tech Business News.

The lawsuit specifically accuses Gryphon CEO Rob Chang of transferring 18 Bitcoin to a scammer who posed as Sphere 3D’s CFO in January. Sphere 3D also claims that an additional eight Bitcoin was lost in a similar manner just a few days later.

Addtionally, Sphere 3D alleged that Gryphon provided poor services to its partner and misrepresented the Bitcoin miner’s computing power in public disclosures.

Patricia Trompeter, CEO Sphere 3D said, “We filed litigation against Gryphon, the custodial management services provider of our blockchain and cryptocurrency-related services, for materially breaching the Master Services Agreement (“MSA”) we entered into with Gryphon,”

“We believe that Gryphon has put the Company’s assets at significant risk and willfully violated their contractual duties.”

In August 19, 2021, Sphere 3D signed a Master Services Agreement (MSA) with Gryphon, which was later amended on December 29, 2021.

According to the MSA, Gryphon is responsible for overseeing Sphere 3D’s cryptocurrency mining operations and ensuring the protection of Sphere’s digital assets. In exchange for these services, Gryphon is entitled to receive 22.5% of Sphere 3D’s gross profits.

The post Bitcoin Mining Firm Sphere 3D Sues Gryphon Digital Mining For 500K Loss appeared first on Tech Business News.

This latest bitcoin price rally demonstrates that cryptocurrency investors are pricing in more favourable market conditions in 2023 as inflation looks set to peak.

The latest data from Cointelegraph Markets Pro and TradingView followed BTC/USD after it hit an overnight high of $21,247 on Bitstamp.

The pair faced major skepticism after making some serious lost ground during the week, with analysts warning that a retracement could happen at any moment.

High-profile crypto entrepreneur Nigel Green of deVere Group told Tech Business News Bitcoin price has jumped yet again– another 3.8% in the last 24 hours – on top of gains made through the week. 

“It’s estimated that around $70 billion has been traded in crypto over the last day alone.” said Green,” 

“We are technically still in a bear market, but the signs are the bulls are beginning to take back control.

The post Bitcoin Price Hits Over $21k For The First Time Since November 2022 appeared first on Tech Business News.