In the wake of glamorous IPOs from the like of Bullish, the phoenix of crypto burns ever brighter. The heart desires crypto exposure! It’s a bubble of desire, thriving in the bustling public markets.
Consider, if you will, the descending channel-a Sisyphean slope descending from the all-time high (top left of the chart, for those with eyes as keen as a lepidopterist’s). This breakout, the first of its kind since the summit, whispers of a bottom, a nadir from which our heroine might rise. Yet, should another leg down materialize, it would be the market makers, those shadowy puppeteers, flushing out the longs before the grand finale. A flush, you say? How très dramatic! 🎭💸
Speaking to the ever-gaping maw of CNBC, Bessent waxed poetic about this “incredible group,” a mélange of current and former Fed officials, alongside private sector wizards. Names? He spills none, but the whispers of the media have already crowned their favorites: Governors Michelle Bowman and Christopher Waller, the ghost of Fed past Kevin Warsh, and the economic oracle Kevin Hassett. 🧙♂️
But how, you might ask, does one embark on such a fantastical journey? Through the launch of a cloud mining platform, of course! This platform, which shall be known as KuMining, promises to bring the joys of mining to both retail and institutional investors, offering them access to verifiable hashrate backed by mining facilities boasting between 300 megawatts (MW) to 2 gigawatts (GW) of power. Imagine the thunderous roar of these machines, a symphony of technological prowess and financial ambition! 🎶⚡
Joseph Chalom, co-CEO of SharpLink Gaming, has raised a red flag (or maybe a cautionary lantern) about firms treatin’ Ether like a slot machine. “You’ll find folks playin’ with fire, thinkin’ they’re juggling coconuts,” he quipped. “But let me tell ye-fire burns, and coconuts hit hard.”
This price surge isn’t random cosmic noise; technical indicators are suggesting that buying pressure is slowly but surely building up. Imagine a crowd of traders with dollar signs in their eyes, inching closer to FORM like moths to a very expensive flame. This could set the stage for FORM to revisit its previous peak. Or not. Who knows? That’s the beauty (and terror) of markets. 😅
According to the folks at OSL HK, this move is all about “meeting institutional demand for quality digital assets” and “strategic diversification.” In plain English? They’re trying to keep up with the Joneses in the crypto world, and who can blame ’em? Hong Kong’s digital asset market is hotter than a firecracker on the Fourth of July, and OSL wants a piece of that pie. 🥧💰
Apparently, these “certain spot crypto products” – a rather vague stipulation, one notes – and those complicated leveraged, margin retail transactions (for the truly reckless among us) are now permissible on platforms that have managed to navigate the bureaucratic labyrinth of registration. It’s all part of a grand plan, you see, to make America the hub of blockchain innovation. As if innovation requires permission slips. 🙄
The market capitalization, one gathers, has rather slumped to a paltry $3.74 trillion (how dreadfully inconvenient!), and Bitcoin itself opened the week languishing near $110,000. One almost feels a twinge of pity… almost.
This expansion, announced on the second of September (a date which, sadly, holds no particular historical significance in this context), follows similar ventures upon Solana, BNB Chain, and TRON. One can only presume that Kraken intends to conquer the entire blockchain landscape, one chain at a time. The digital assets, adorned with the ‘x’ suffix – AAPLx, TSLAx, NVDAx, and the rather ominous SPYx – now roam freely as ERC-20 tokens.
