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Top News in Crypto for April 11, 2023

by 11. Apr 2023 @ 2:11Daily News Summary about Crypto

Key Points

Happy Tuesday! Here’s a summary of today’s crypto news:

  • Bitcoin surpasses $30,000 for the first time since last June.
  • Winklevoss twins reportedly provide a $100 million loan to Gemini.

Bitcoin Breaks Through $30,000 Milestone as Market Confidence Grows

On Tuesday, bitcoin surpassed the $30,000 mark for the first time since June, as the banking turbulence experienced in March fades and investor confidence in the Federal Reserve’s monetary policy grows. Over the past 24 hours, bitcoin has risen by 6% to reach $30,100. However, trading volume remains low, according to Matteo Bottacini, a trader at Crypto Finance AG. He suggests that few investors are taking profits from the year-end low and new buyers are still reluctant to enter the market. Crypto-related stocks, including Marathon Digital (MARA), Coinbase (COIN), and MicroStrategy (MSTR), have also seen growth in response to bitcoin’s ascent.

 

Winklevoss Twins Inject $100 Million Loan into Gemini Amid Market Downturn

Bloomberg reports that Tyler and Cameron Winklevoss have recently lent their Gemini cryptocurrency exchange $100 million to support the business during the market downturn. Citing anonymous sources, the report states that the brothers provided the loan after attempting to secure outside investment for Gemini. The significance of the $100 million figure is highlighted by the fact that it matches the amount Gemini agreed to pay some of its customers as part of the Genesis bankruptcy case. Genesis, owned by Digital Currency Group like CoinDesk, suspended withdrawals following the collapse of crypto exchange FTX last year, a decision that affected customers of Gemini’s Earn yield product.

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Top News in Crypto for April 5, 2023

by | Apr 5, 2023 |

  • Ether has surged to a nine-month high, up 5% to $1,920 in the past 24 hours, ahead of the upcoming Ethereum network upgrades.
  • PostFinance, a Swiss financial services firm, is partnering with Sygnum Bank to offer cryptocurrencies to its 2.5 million customers, enabling them to buy, store, and sell bitcoin and ether, with more crypto tokens to be added in the future.
  • Paxful, a popular peer-to-peer Bitcoin trading platform in Africa, has suspended its operations. Its co-founder, Ray Youssef, is rallying the Bitcoin community to help build and fund a new decentralized platform called Civilization Kit (Civ Kit), which is a decentralized peer-to-peer Bitcoin trading app built on Nostr, a decentralized social media app.
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