Transaction URL: https://etherscan.io/tx/0x7798b905cb2a0193cfefac4160f6723011f5c12eace5ebc9da0d6b367f6a2dd1
- Crunch
- Global
Rumble has strategically increased its Bitcoin holdings acquiring approximately 188 Bitcoin at an average price of $91,000 each. This significant investment aligns with the company’s ambitious plan to allocate up to $20 million to Bitcoin reinforcing their belief in its long-term value. As a prominent video-sharing and cloud services platform Rumble’s latest move underlines their dedication to integrating cryptocurrency within their financial strategy.
CEO Chris Pavlovski announced the company’s enthusiasm about integrating Bitcoin into their treasury strategy. He highlighted the digital currency’s advantages such as being a hedge against inflation and immunity to the dilution that affects fiat currencies. Pavlovski expressed pride in making Rumble a beacon for the crypto community signaling a deeper engagement with the industry.
Future acquisitions of Bitcoin by Rumble will depend on a variety of factors including market conditions and company liquidity. While the current strategy is robust Rumble retains the flexibility to adjust or pause their Bitcoin investments responding to changing market dynamics and internal financial requirements.
This is a segment from the Forward Guidance newsletter. To read full editions, subscribe.
House representatives voted yesterday to overturn the IRS’s “DeFi broker” rule, which was passed in the final days of the Biden administration.
The resolution — introduced under the Congressional Review Act — passed in a 292-131 vote. 76 Democrats voted in favor of abolishing the rule.
The IRS’s rule required DeFi brokers to file 1099-DA forms, which are the newly approved tax forms that crypto exchanges must use starting in tax year 2025. Given that DeFi companies are not centralized, the requirements were unrealistic, industry advocates have argued.
During…
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Franklin Templeton’s XRP ETF proposal yesterday is just one of several the SEC is weighing. Still, it marks the first filing from a traditional finance giant.
Crypto and ETF investors alike wait to see what type of spot crypto product the new-look securities regulator could choose to allow through next.
Bloomberg Intelligence analysts last month put the highest odds (90%) on litecoin ETFs seeing the light of day by the end of the year.
That was ahead of dogecoin (75%), solana (70%) and XRP products (65%). The lower odds for XRP was due to the SEC’s lawsuit against Ripple (one…
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This is a segment from the Forward Guidance newsletter. To read full editions, subscribe.
Franklin Templeton’s XRP ETF proposal yesterday is just one of several the SEC is weighing. Still, it marks the first filing from a traditional finance giant.
Crypto and ETF investors alike wait to see what type of spot crypto product the new-look securities regulator could choose to allow through next.
Bloomberg Intelligence analysts last month put the highest odds (90%) on litecoin ETFs seeing the light of day by the end of the year.
That was ahead of dogecoin (75%), solana (70%) and XRP products (65%). The lower odds for XRP was due to the SEC’s lawsuit against Ripple (one…
Read more on Blockworks
This is a segment from the Forward Guidance newsletter. To read full editions, subscribe.
After a tough several weeks, today is a happier day on Wall Street.
February’s inflation print gave stocks a surprising but welcome boost this morning after prices last month rose less than expected.
The Consumer Price Index showed prices increased 2.8% year over year — still above the Fed’s 2% target but a decline from the 3% annual increase recorded in January. Economists had projected CPI to come in at 2.9% for the 12 months ended February.
Month over month, consumer prices were up 0.2% in February, a decline from January’s 0.5% gain. That was just under…
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People tend to celebrate periods of low feerates. It’s time to clean house, consolidate any UTXOs you need to, open or close any Lightning channels you’ve been waiting on, and inscribe some stupid 8-bit jpeg into the blockchain. They’re perceived as a positive time.
They are not. We have seen explosive price appreciation the last few months, finally hitting the 100k USD benchmark that everyone took for granted as preordained during the last market cycle. That’s not normal.
The picture on the left is the average feerate each day since 2017, the picture on the right is the average price each day since 2017. When the price was pumping, when it was highly volatile,…
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Another blockchain gaming studio is shutting down — Battlebound is closing its doors.
The studio was overseeing two games, including the metaverse game Evaverse with an EVA token and an in-development RPG dubbed Anterris. The Evaverse token is down over 99% from its all-time high.
Battlebound previously raised $4.8 million in seed funding back in 2022 from investors including a16z and Dapper Labs. It gained another $3 million by selling NFTs.
The company had the budget for what’s often called an “AA game” or the equivalent of two indie games, but it did not have the means for more…
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Movement finally launched its mainnet (beta) yesterday.
It’s another Ethereum L2 in the sea of L2s. Who cares?
I can think of at least five reasons why Movement is standing out in the crowded field of layer-2 blockchains.
Number #1: Movement’s founders are Gen-Z-young and have raised a lot of money.
Number #2: Movement is brazenly open about the fact that its “go-to-market” strategy involves cozying up with DC policymakers to build “political and enterprise relationships.”
Movement co-founder Rushi Manche is publicly posting pictures with Donald Trump Jr. and crypto…
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