Seven-time Super Bowl champion Tom Brady and Brazilian supermodel Gisele Bündchen are the latest celebrities to reaffirm the growing adoption of the cryptocurrency industry. West Realm Shires Services, FTX Trading Limited and Blockfolio, three companies behind major global cryptocurrency exchange business FTX, announced Tuesday a long-term partnership with Brady and Bündchen. As part of the deal, the legendary football player and model will each take equity stakes in FTX Trading and will receive crypto. Brady will serve as an ambassador for FTX, while Bündchen will take on the role of FTX’s environmental and social initiatives advisor, working on initiatives to …
According to Chainalysis, the vast majority of Bitcoin (BTC) is held as long term investment, with 60% held by licensed custodians. Breakdown of Bitcoin supply. Source: Chainalysis. Digital gold The company concluded that the breakdown of Bitcoin’s supply makes it similar to gold, supporting the asset’s status as digital gold. They clarify, however, that it is the 3.5 million BTC that is actively traded which supports the price: “But this digital gold is supported by an active trading market for those who prefer to buy and sell frequently. The 3.5 million Bitcoin used for trading supplies the market, and, in …
Major U.S. crypto exchange and wallet provider Coinbase has raised $300 million in a fresh funding round that brings its post-money valuation to $8 billion, according to an official blog post published today, Oct. 30. The Series E equity financing round was reportedly led by investment firm Tiger Global Management, with participation from a host of backers well-known for their investments in the crypto space, such as Y Combinator Continuity, Wellington Management, Andreessen Horowitz, and Polychain, among others. According to Coinbase, the funds will be used to “accelerate” the adoption of cryptocurrencies, with plans to build infrastructure to support regulated …
Buying a Coinbase stock (COIN) to gain indirect exposure in the Bitcoin (BTC) market has been a bad strategy so far compared to simply holding BTC. Notably, COIN is down by nearly 50% to almost $186, if measured from the opening rate on its IPO on April 14, 2021. In comparison, Bitcoin outperformed the Coinbase stock by logging fewer losses in the same period — a little over 30% as it dropped from nearly $65,000 to around $41,700 What's bothering Coinbase? The correlation between Coinbase and Bitcoin has been largely positive to date, however, suggesting that many investors consider them …
Despite a wave of heavy crypto layoffs to start the new year, employees in technical and engineering roles, as well as senior management, will likely continue to see “strong demand” for their skills, recruitment professionals believe. It’s been a tough first few weeks of 2023 for crypto businesses and their staff. Within just two weeks, the market has already seen more than 1,600 crypto-related job cuts as a result of continued market volatility and uncertainty. However, not all departments have seen the same level of cuts. SAFU: Senior-level tech and engineering Rob Paone, founder and CEO of crypto recruitment firm …