Brian Armstrong made the media rounds before and after he announced Coinbase was pulling its support for a major US crypto bill, reportedly facing off with Jamie Dimon in Davos. JPMorgan Chase CEO Jamie Dimon reportedly confronted Brian Armstrong during a coffee chat at Davos last week, telling the Coinbase CEO to stop lying about banks trying to sabotage the digital asset market structure bill under consideration in the US Congress. According to a Thursday report from The Wall Street Journal, the confrontation between Dimon and Armstrong occurred at the World Economic Forum last week when the Coinbase CEO was having coffee with former UK Prime Minister Tony Blair. Dimon reportedly interrupted Armstrong, saying the CEO was “full of s—,” referring to TV interviews in which the Coinbase CEO accused banks of interfering with the US market structure bill. Banking industry advocates have opposed allowing stablecoin rewards under the legislation. However, many in the crypto industry, including Armstrong, have push...
Bitcoin short positions continued to pile up as BTC price dropped near $81,000, potentially providing the liquidation fuel for a revenge rally back above $90,000. Bitcoin’s (BTC) price has dropped 14.5% in the past 16 days, pushing the Crypto Fear & Greed Index to 16 (Extreme Fear), which is its lowest rating year-to-date. While selling has dominated markets over the past two weeks, Bitcoin derivatives data suggest the current trader positioning may lead to a recovery. Analysts are now weighing whether the latest sell-off has created conditions for a relief rally. Key takeaways: Read more
The blank-check company has yet to name an acquisition target, but the listing creates a new public vehicle tied to the US-based crypto exchange. Kraken-backed KRAKacquisition Corp has completed an upsized $345 million initial public offering, listing its special purpose acquisition company units on Nasdaq to pursue future mergers or acquisitions. According to a Friday announcement, the special purpose acquisition company (SPAC) sold 34.5 million units at $10 each, including the full exercise of the underwriter’s over-allotment option. Each unit consists of one Class A ordinary share and one-quarter of a redeemable warrant exercisable at $11.50 per share. The units began trading on the Nasdaq Global Market under the ticker symbol KRAQU on Wednesday. Read more