Crypto Hiring: Ex-Fidelity exec joins Solana-based staking protocol

Hadley Stern, the former founding president of Fidelity Digital Assets, has joined Marinade, a staking marketplace protocol built on Solana, as its chief commercial officer.

Stern’s career spans key roles, including leading Amazon Web Services’ innovation lab and serving as global head of digital asset custody at BNY Mellon. The hire comes as Marinade — serving roughly 100,000 users with more than 10 million SOL — is partnering with custodians Copper and Zodia Custody to bring security and regulatory compliance. 

“Marinade’s unique staking marketplace model is the best solution for validators, the Solana blockchain, and now, with Marinade Native, for institutions,” Stern…

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Weekly U.S. Bitcoin ETFs Net Flow Analysis

BlackRock’s IBIT leads in holdings with a substantial 357,277 BTC, though it saw a net outflow of 232 BTC. Not far behind, Grayscale’s GBTC holds 222,207 BTC with a more considerable outflow of 1,945 BTC. Conversely, Fidelity’s FBTC added 415 BTC, totaling 173,133 BTC.

ARK Invest’s ARKB and Valkyrie’s BRRR experienced mixed results, with ARKB seeing a decrease of 424 BTC and Valkyrie an outflow of 85 BTC. In contrast, Grayscale’s second fund listed as BTC had an inflow of 446 BTC, increasing its total to 32,988 BTC. Notably, Bitwise’s BITB and Franklin Templeton’s EZBC reported positive inflows of 158 BTC and 56 BTC, respectively.

In summary, the total Bitcoin holdings across these ETFs stood at 898,852 BTC, marking a net outflow of 1,611 BTC. This movement reflects varying investor sentiments and strategies in the dynamic landscape of cryptocurrency investments.

Disclaimer: Market capitalizations and data can vary in real-time. The information provided here is intended purely for educational purposes and should not, under any circumstances, be construed as financial advice.

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Detroit Aims to Drive Digital Asset Innovation on Day Three of the America Loves Crypto Tour

Crypto-natives and fans of Detroit rapper Big Sean flocked to the Lager House, just outside of downtown Detroit, for the third stop of the America Loves Crypto Tour. The event provided both an evening of live entertainment and a call to action to get out the crypto vote in the upcoming 2024 elections following previous stops in Arizona and Nevada.

Michigan is considered a battleground state, and the Stand With Crypto Alliance sees the state’s 940,000 bi-partisan Bitcoin and crypto owners — 25,000 of which are Stand With Crypto members — as potentially crucial for the upcoming presidential election. The 2020 election’s margin within Michigan was only about 156,000 voters, which…

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The interest rate decision countdown is on

Today, enjoy the On the Margin newsletter on Blockworks.co. Tomorrow, get the news delivered directly to your inbox. Subscribe to the On the Margin newsletter.

Welcome to the On the Margin Newsletter, brought to you by Ben Strack and Casey Wagner.Here’s what you’ll find in today’s edition:

A look at where we stand headed into next week’s Federal Reserve interest rate decision. 
Bitcoin ETFs have been on the US market for 8 months. Let’s look at the numbers to see how they’re doing. 
Happy Friday! We break down some economic data from this week. 

Anyone have a Magic 8 Ball? 

The countdown to the Fed’s next interest rate decision is on. Markets, meanwhile, are…

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ORE’s developer hopes their seed round will reverse the currency’s fortunes

Today, enjoy the Lightspeed newsletter on Blockworks.co. Tomorrow, get the news delivered directly to your inbox. Subscribe to the Lightspeed newsletter. 

Regolith Labs, the software company that spun out of the viral ORE project, has raised $3 million in seed funding, it told Lightspeed exclusively.

Foundation Capital led the round, which also drew participation from Colosseum, Solana Ventures, B+J Studios, Third Kind Ventures and Dead King Ventures. With the fresh funds, the three-person startup will aim to expand its experimental proof-of-work currency while also building a PoW token distribution platform.

Interestingly, Regolith investors did not receive any ORE tokens due to the…

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Daily US Bitcoin ETFs Net Flow Analysis (As of September 13, 2024)

On September 13, 2024, daily net flows of U.S. Bitcoin Exchange-Traded Funds (ETFs) showed significant activity among major financial entities. Notably, Fidelity’s Bitcoin ETF (FBTC) observed a substantial influx, gaining 415 BTC, while ARK Invest’s Bitcoin ETF (ARKB) saw a decrease, losing 624 BTC. The data also highlighted Grayscale’s Bitcoin ETF (GBTC), which experienced a net outflow of 98 BTC.

On the positive side, other ETFs like Bitwise (BITB) and Franklin Templeton’s (EZBC) saw net inflows of 39 BTC and 56 BTC, respectively. Meanwhile, Grayscale’s BTC showed a notable recovery with an addition of 700 BTC. BlackRock’s ETF (IBIT) remained stable with no net inflow or outflow.

The combined total holdings of Bitcoin across all listed ETFs reached 898,852 BTC, valued at approximately $53.6 billion. The net daily inflow summed up to 488 BTC, translating into a monetary increase of about $29.1 million, indicating a vigorous engagement by institutional investors in the cryptocurrency market. This data is sourced from BitcoinTreasuries.com, providing a clear snapshot of the evolving dynamics within the Bitcoin investment landscape.

Disclaimer: Market capitalizations and data can vary in real-time. The information provided here is intended purely for educational purposes and should not, under any circumstances, be construed as financial advice.

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Bitcoin Price Action: What to Expect Next

Bitcoin’s recent price movements have caused concern among investors about what might come next. However, by looking at key indicators such as the 200-week moving average, Pi Cycle Top Indicator, and the Golden Ratio Multiplier, we can gain insights into potential support and resistance levels for Bitcoin.

Leaning Bearish?

In recent weeks, Bitcoin’s price has fluctuated, dipping as low as $53,000 before stabilizing in the middle of our newly formed $50,000 to $60,000 range. If this bearish price action is to continue and price breaks to lower lows the 200-week moving average heatmap (blue line), a historically critical support level, is currently close to $39,000 but fast approaching…

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Floki Lags Dogecoin, Shiba Inu With 7% Weekly Gain But ‘Looks Excellently Positioned’ For Q4, Trader Says

Floki FLOKI/USD is trading relatively flat, but traders believe that it is well positioned for an upcoming rally.

What Happened: Crypto trader Jelle noted that the Floki trading bot is seeing more and more usage as Valhalla takes front and center on sports events. He added that the coin is making higher lows, just above key support.

He concluded, “I expect Q4 to be good for crypto as a whole, and FLOKI looks excellently positioned to ride that wave.”

Valhalla front and center on sports events, and the $FLOKI trading bot is seeing more and more usage.

Meanwhile, the coin is making higher lows, right above key support.

I expect Q4 to be good for crypto as a whole; and FLOKI looks…

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The road to the US election is paved with political memecoins — now down 90%

Political memecoins — PolitiFi — had a real moment during the first half of the year. That’s since been put on hold.

The five most prominent tokens, MAGA (TRUMP), MAGA Hat (MAGA), Doland Tremp (TREMP), Jeo Boden (BODEN) and Kamala Horris (KAMA), altogether peaked at over $1.25 billion market cap at the start of June.

Now they’re worth under $170 million, a near-90% collapse. 

The remnants of ConstitutionDAO, which lost an auction of a rare first-print of the US constitution to Citadel CEO Ken Griffin in late 2021, now make up almost two-thirds of the entire PolitiFi market, per CoinGecko. Although, it’s arguable whether it should be really ranked alongside political parody…

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Election burnout has come for political memecoins

Today, enjoy the Empire newsletter on Blockworks.co. Tomorrow, get the news delivered directly to your inbox. Subscribe to the Empire newsletter.

Happy Friday.

A friendly reminder to not believe Big Fall propagandists. The super lame “meteorological summer” might have technically ended on August 31, but we still have about nine days left until the much cooler “astrological summer” is actually over, marked by the September equinox.

So, forget what your boss said about no more Summer Fridays. They’re still very much alive. Go on, take the afternoon off. Empire said it’s okay. 

In the meantime, enjoy these takes on political memecoins, FTX and prediction markets. Viva La…

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