The Block
Quick Take Coinbase has surged back into the U.S. Apple App Store top 10, jumping from a rank of 435th the day before the U.S. election. Decentralized predictions platform Polymarket currently shows 87% odds that the crypto exchange will be in the top 10 position on Friday.
Quick Take SEC Chair Gary Gensler’s comments come after president-elect Donald Trump won the U.S. presidential election last week. Gensler also made a few comments on Thursday about working at the SEC.
Quick Take The Royal Government of Bhutan deposited another 365 BTC ($33.3 million) to Binance on Thursday, according to the onchain analytics platform Arkham. The latest transfer follows the $66 million worth of bitcoin Bhutan deposited to the exchange in October.
Vice President Harris said she would “encourage innovative technologies like AI and digital assets while protecting our consumers and investors” as President during comments made at a Wall Street fundraiser, according to a Bloomberg reporter present. Reuters also reported on Sunday that the Harris campaign plans to unveil new economic policies this upcoming week. Harris is currently leading in 4 of 6 swing states according to election prediction market Polymarket, which currently gives the VP a
Quick Take Ethereum transaction fees have spiked over the past week in a recovery from lows earlier this month, when the network’s average transaction fee hit its lowest value since 2020. Despite the spike, which has also increased the amount of ether burned, the number of active addresses on the network fell to a year-to-date low.
Quick Take Folks Finance has raised $3.2 million in a Series A funding round. The round brought Folks Finance’s equity and token FDV to $75 million, Folks Finance co-founder and CEO Benedetto Biondi told The Block.
Quick Take An executive of Silvergate Capital Corporation, once the holding company of the shuttered crypto-focused Silvergate Bank, blamed financial headwinds and increased pressure from regulators as the main reasons behind the bank’s closing. The “sudden regulatory shift” by regulators in early 2023 ultimately “prevent[ed] Silvergate Bank from continuing its digital asset focused business model,” Silvergate’s chief administrative officer claims in the filing.
Bitcoin’s rally since the U.S. presidential election has prompted some large miners to take profits, CryptoQuant analysts said.However, the analysts believe bitcoin still remains undervalued — suggesting room for further price growth.
Quick Take CoreFi Strategy will offer investors the opportunity for higher beta Bitcoin exposure through the Core blockchain.
Quick Take Cumulative trading volume for the U.S. spot bitcoin ETFs broke past the $500 billion mark on Wednesday — just ten months after launch. The milestone comes amid a record $5 billion trading day for BlackRock’s IBIT as the bitcoin ETFs have clocked a collective $2.4 billion in net inflows so far this week.
