Home Blog Page 413

Bitcoin funds take in $933 million as crypto ETFs hit highest AUM since February

info@uweb3.io
-
0
Bitcoin funds take in $933 million as crypto ETFs hit highest AUM since February

Institutional money is flowing back into crypto faster than retail this cycle, and the data is starting to back the rally bitcoin has been quietly running.

Digital asset investment products attracted $1.2 billion in inflows last week, a fourth consecutive weekly gain, according to CoinShares data published Monday.

Total assets under management across crypto funds rose to $155 billion, the highest level since February 1, though still well below the $263 billion peak from October 2025. Bitcoin alone took in $933 million, bringing year-to-date flows to $4 billion. Ether attracted $192 million, the third straight week above $190 million.

Meanwhile, blockchain equity ETFs are one to watch for outside of crypto-related funds. These products invest in publicly traded companies that derive revenue from crypto infrastructure, like miners, exchanges, and chip makers selling into crypto applications.

Inflows totaled $617 million over the past three weeks, including a record weekly figure, marking what CoinShares analyst James Butterfill described as an explosion in demand for indirect technology exposure to the asset class.

The pattern suggests allocators who cannot or will not hold spot bitcoin directly are rotating into the equity wrappers around the sector.

Bitcoin tagged $79,399 overnight, its highest level since January 31, before reversing to $77,705. The level matters because $80,000 is where buyers from January and February are approaching breakeven on positions held through the war-driven correction.

The week ahead is the test of whether institutional flows can absorb that selling pressure or whether a third rejection from $79,000 starts to define a range rather than precede a breakout.

Megacap tech earnings on Wednesday and Thursday from Alphabet, Microsoft, Amazon, and Meta, followed by Apple on Thursday, represent roughly a quarter of the S&P 500’s market capitalization and will determine whether the broader risk-on bid that has been lifting bitcoin alongside equities continues.

Strong earnings would extend the four-week run of crypto inflows and bitcoin may gets the catalyst it needs to clear $80,000. Disappointing results, however, could send prices dwindling lower.

China Moves to Block Meta’s $2B Acquisition of AI Startup

info@uweb3.io
-
0
China Moves to Block Meta’s $2B Acquisition of AI Startup

Meta’s bid to add AI startup Manus to its portfolio has come to a sudden halt. 

China’s National Development and Reform Commission has stepped in to prevent the acquisition, which was made public at the end of last year.

The blocked takeover has been under scrutiny for months as the Beijing administration stepped up efforts to stop the flow of AI talent to the U.S. Although now registered in Singapore, Manus, a vendor of an autonomous AI agent platform, was founded in Wuhan and has done most of its development work in China.

At the same time, the U.S. administration has prohibited American companies from investing directly in Chinese entities.

Manus’ relocation to Singapore, in theory, provided a way around this, but the commission has now intervened following months of investigation into whether the deal would contravene China’s investment rules.

The regulator, an agency that works under China’s all-powerful State Council, issued a statement that made clear it had decided to prohibit “the foreign acquisition of the Manus project” and that the parties involved must “unwind the acquisition transaction.”

Related:AWS Bets on Frontier Agents as the Next Era of Enterprise AI

While it’s not clear if — or even how — the edict will be enforced, it has sparked some alarm in China among other companies that had also been considering relocation to Singapore to avoid regulatory scrutiny, according to CNBC.

The product at the heart of the furor was greeted with fanfare by Meta in December, with the tech giant claiming on Facebook that the deal would enable it to “bring a leading agent to billions of people and unlock opportunities for businesses across our products.”

“Manus has built one of the leading autonomous general-purpose agents that can independently execute complex tasks like market research, coding, and data analysis. We will continue to operate and sell the Manus service, as well as integrate it into our products,” the Facebook statement continued.

Manus’ rise to prominence had been dramatic, with Meta pointing out that by the end of 2025 it had already served more than 147 trillion tokens and created more than 80 million virtual computers, having launched its first AI agent earlier in the year.

Manus itself reported reaching $100 million in annual recurring revenue just eight months after launch, apparently making it the fastest company to achieve this milestone.

What the decision means for Meta, which is spending liberally on AI and is eager to monetize its investments, remains to be seen. However, in a statement issued to the media, the social media giant said: “The transaction complied fully with applicable law. We anticipate an appropriate resolution to the inquiry.”

Related:Gemini Agent Platform Tackles Enterprise Deployment Challenges

Pudgy Penguins rally coincides with token unlock as analyst flags exit liquidity risk

info@uweb3.io
-
0
Pudgy Penguins rally coincides with token unlock as analyst flags exit liquidity risk

Pudgy Penguins’ recent rally may be a breakout driven by ecosystem momentum. This move appears to have benefited long-term holders in unexpected ways, according to on-chain data.

According to DNTV Research founder Bradley Park, the surge may have provided liquidity, that is, enough buyers in the market, for large holders to sell following a mid-April token unlock.

“The news around the Pengu Card, PenguBot, and other ecosystem updates are secondary narratives at best,” Park told CoinDesk. “The real story is the large token unlock that happened roughly 10 days ago.”

The Pudgy Penguins team did not respond to a request for comment by press time.

Token unlocks are scheduled releases of coin supply, similar in spirit to post-IPO lockup expirations that periodically flood equity markets with newly available shares.

Park points to the token unlock on April 17, when roughly 703 million PENGU — about 0.79% of the total supply of roughly 88 billion — hit the market in a single tranche.

The on-chain activity in the hours that followed, paired with a sharp jump in futures positioning, tracks the pattern seen at prior unlocks, where large holders use a window of rising liquidity to sell into strength.

The primary unlock wallet received 182.8 million PENGU and, within roughly 50 minutes, dispersed them across 19 separate addresses.

Park calls the sequence a “vesting-claim-and-disperse” pattern, the kind of choreography more commonly associated with preparing to sell than with settling in for the long hold.

The mechanics aren’t complicated: tokens come out of the vesting contract and get split across multiple wallets, which lets the eventual sale move in pieces small enough that no single transaction tips the market against the seller.

The futures market moved alongside it. Open interest in PENGU rose from about $36 million to $59 million during the rally, with repeated short squeezes amplifying upward momentum.

Short squeezes — the same mechanic retail traders watched drive GameStop in 2021 — force traders betting against the price to buy back in and cover their positions, layering fresh demand on top of whatever was already pushing the market higher.

For a holder trying to exit, that is close to an ideal environment: someone else’s forced buying absorbing their selling, with the price still moving the right way.

Open interest measures the total value of futures contracts still open in the market, and when it rises alongside price, it usually means traders are piling into new long positions rather than closing out old ones. That deepening of liquidity is exactly what a large holder needs to sell size without moving the price against themselves.

“My hypothesis: the price rally was engineered to provide exit liquidity for unlock recipients,” Park told CoinDesk in a note. “The bullish narratives — game launches, Visa card, Telegram bot — gave market participants a reason to bid, while the unlock beneficiaries used the resulting liquidity to sell into strength.”

“The news didn’t cause the rally,” he added. “It provided cover for post-unlock distribution.”

Park’s analysis aligns with broader signs of concentration in the NFT market.

As CoinDesk reported earlier, buyer participation has been declining even as prices rise, with activity increasingly concentrated in a handful of collections, such as Pudgy Penguins. In that environment, relatively small flows can have an outsized impact on price.

Next month will show if this is an isolated event or part of a pattern.

Pudgy Penguins’ vesting schedule shows monthly unlocks of roughly 703 million PENGU continuing through at least July, with the next tranche scheduled for May 17.

Each event introduces new supply, creating recurring windows where price action and underlying flows may diverge.

What the market has to sort out now is whether the rally reflects durable demand or just well-timed liquidity around new supply.

The ecosystem news is real enough. Whether it points to growth or to a cover for an exit is the question the next few months of unlocks – without the same bullish narratives – will answer.

The $2.2 Billion Fintech Behind Home-Equity Credit Cards Is Now Targeting Bitcoin Holders

info@uweb3.io
-
0
The $2.2 Billion Fintech Behind Home-Equity Credit Cards Is Now Targeting Bitcoin Holders

  • Aven launched the Aven Bitcoin Visa Card, a bitcoin-backed line of credit accessible through a Visa credit card.
  • Borrowers pledge bitcoin as collateral, with custody infrastructure provided by BitGo Inc. and BitGo Bank & Trust, National Association.
  • Aven is extending its asset-backed credit model into crypto, after building its business around home-equity-backed credit cards.

Machine banking platform Aven is bringing Bitcoin-backed borrowing to the credit-card market.

The San Francisco-based fintech today (April 27, 2026) launched the Aven Bitcoin Visa Card, a credit card tied to a bitcoin-backed line of credit. The product offers credit lines of $1 million, with rates starting at 7.99% APR, the company mentioned in the details shared with AlexaBlockchain.

Aven was founded in 2019 by former Facebook and Square executives Sadi Khan, Collin Wikman and Murtada Shah.

The company calls its model “machine banking” — a technology-driven approach to underwriting and managing secured consumer credit across assets such as home equity — and now bitcoin — so customers may access larger credit lines at lower rates.

The company reached unicorn status in 2024 after a $142 million Series D led by Khosla Ventures and General Catalyst, and raised another $110 million in 2025 at a $2.2 billion valuation. Its backers include Khosla Ventures, General Catalyst, Caffeinated Capital, GIC, Electric Capital, Founders Fund and The General Partnership.

Aven has issued more than $3 billion in aggregate credit lines and saved homeowners more than $215 million in interest since inception. This achievement gives it a stronger consumer-credit track record than many crypto-native lenders now trying to rebuild confidence after the 2022 lending-market collapse.

The Aven Bitcoin Visa Card is aimed at long-term bitcoin holders who want access to liquidity without selling their holdings.

That matters because selling bitcoin can trigger a taxable event. Borrowing against it may allow holders to access cash while retaining exposure to the asset’s future price moves, though tax treatment depends on individual circumstances.

“Bitcoin is becoming a bigger part of people’s lives and net worth, but using bitcoin productively remains challenging,” Sisun Lee, Head of Crypto at Aven, said in a statement shared with AlexaBlockchain.

“We built the Aven Bitcoin Visa Card to give bitcoin holders the opportunity to borrow against their bitcoin and access their line of credit through a credit card with lower rates, better terms and rich rewards.”

The card is issued by Coastal Community Bank, a Washington state-chartered bank, and runs on Visa’s network. Aven said the product has no annual or origination fees and offers unlimited 2% cash back on purchases.

The collateral structure is central to the pitch.

Borrowers deposit bitcoin as collateral with BitGo Inc. and BitGo Bank & Trust, National Association. BitGo says BitGo Bank & Trust is a national trust bank chartered and regulated by the Office of the Comptroller of the Currency.

Aven said it does not rehypothecate or lend out pledged bitcoin.

That is a deliberate contrast with the last crypto credit cycle. During the 2020-2022 boom, crypto lenders attracted customers with high yields and easy borrowing, but several collapsed after token prices fell and counterparties failed.

Celsius filed for bankruptcy in July 2022 after freezing withdrawals during market stress. Reuters reported at the time that the filing came after a sharp crypto-market downturn cut off access to customer funds.

BlockFi filed for bankruptcy later that year, citing exposure to FTX, and listed FTX as one of its largest creditors.

Those failures reshaped the market.

Newer products now tend to emphasize custody, collateral segregation and lower counterparty risk rather than yield. Aven’s use of BitGo, and its claim that customer bitcoin will not be rehypothecated, places the product inside that post-crisis lending reset.

The rate is also part of the competitive story.

A March 2026 comparison by Ledn listed bitcoin-backed loan rates from several providers, including Ledn at 9.99% to 11.49% for one-year loans, Nexo at 18.9% before token-linked discounts, Crypto.com at up to 12%, and Wirex at 14% for BTC-backed credit.

Ledn’s April 2026 U.S. crypto lending comparison also cited Unchained at 16.6%, SALT at 14.5%, Coinbase Borrow at 8%, and Strike at 9.5% for bitcoin-backed loans.

Aven’s headline starting APR of 7.99% therefore positions the card near the lower end of listed bitcoin-backed borrowing rates, though final pricing will depend on borrower eligibility, collateral, and product terms.

The more unusual feature is not just the rate.

It is the credit-card wrapper.

Most bitcoin-backed loans are structured as term loans or credit lines funded to a bank account or in stablecoins. Aven is trying to make the collateralized line usable at the point of spending, closer to a conventional card experience.

That is consistent with Aven’s broader business model.

The company built its name around asset-backed credit cards, especially home-equity-linked cards. Aven raised $110 million in Series E funding in September 2025 at a $2.2 billion post-money valuation.

Its existing home-equity card model links consumer borrowing to collateral, attempting to offer lower rates than unsecured credit cards. NerdWallet notes that Aven’s home-equity card is secured by the borrower’s home and requires home equity to qualify.

The bitcoin product applies a similar logic to digital assets.

For Aven, the opportunity is to convert bitcoin from a passive holding into consumer-credit collateral. For the crypto market, it is another sign that lenders are trying to rebuild around regulated partners, custody infrastructure and more conservative risk controls.

Still, the risks are not removed.

Bitcoin-backed loans can expose borrowers to margin calls or liquidation if the price of bitcoin falls sharply. Ledn’s lending guide notes that if collateral value drops too far, crypto-backed loans may be partially or fully liquidated to cover the loan.

There is also counterparty and custody risk.

BitGo’s own disclosures state that digital assets can fluctuate significantly and may become worthless, and that digital assets held in custody are not protected by FDIC or SIPC insurance.

That makes the product different from an ordinary rewards card.

A borrower is not only using credit. They are pledging bitcoin in a volatile collateral arrangement, while using the proceeds through a consumer-payment product.

The launch also arrives as institutional crypto infrastructure becomes more public and regulated.

BitGo listed on the New York Stock Exchange in January 2026, raising $212.8 million in an IPO and reaching a valuation of about $2.59 billion in its debut, Reuters reported.

That public-market presence may help Aven make the case that its bitcoin collateral stack is more institutional than the crypto lenders that collapsed in 2022.

The broader test will be whether bitcoin holders want leverage embedded in a daily-spend product.

For some, the card could make sense as a liquidity tool: borrow instead of sell, keep bitcoin exposure, and use a familiar Visa card interface.

For others, it adds a new risk layer to a volatile asset.

Aven’s launch shows where crypto credit is heading after the industry’s lending blowups: lower advertised rates, regulated partners, custody-focused collateral structures and consumer interfaces that look more like mainstream finance.

The article “The $2.2 Billion Fintech Behind Home-Equity Credit Cards Is Now Targeting Bitcoin Holders” was first published on AlexaBlockchain. Read the complete article here: https://alexablockchain.com/22-billion-fintech-behind-home-equity-credit-cards-is-now-targeting-bitcoin-holders/

Read Also: MoneyGram, Pairpoint and eToro Back Midnight’s Privacy Blockchain Before Mainnet

Disclaimer: The information provided on AlexaBlockchain is for informational purposes only and does not constitute financial advice. Read complete disclaimer here.

Image Credits: Shutterstock, Canva, Wiki Commons

Canada Moves Closer to Banning Crypto Political Donations

info@uweb3.io
-
0
Canada Moves Closer to Banning Crypto Political Donations

Canada is moving closer to banning political donations made in cryptocurrency, as lawmakers in Ottawa tighten rules around how money flows into elections.

That’s after a proposed law — Bill C-25, the Strong and Free Elections Act — passed a second reading in the House of Commons on Friday. The vote signals that lawmakers support the bill in principle and will now study it in detail at committee, where amendments can still be made.

The legislation would prohibit political parties and candidates from accepting cryptocurrency donations, closing what regulators see as a gap in campaign finance rules.

First introduced on March 26, the bill is a broader overhaul of election laws aimed at strengthening transparency, tightening enforcement and reducing the risk of foreign interference. As Cointelegraph previously reported, crypto donations became a focal point due to concerns over traceability and compliance with existing limits.

While the bill is not solely focused on digital assets, it explicitly includes crypto in its restrictions on political financing.

There is no fixed date yet for when Bill C-25 will be taken up in committee.

An excerpt from Bill C-25. Source: Parliament of Canada

Related: Canada’s bid to ban crypto donations highlights transparency issue

Political ban comes amid Canada’s crypto embrace

The proposed ban comes as cryptocurrencies and blockchain infrastructure become more embedded in Canada’s financial system.

Regulators have advanced stablecoin frameworks that would give oversight powers to the Bank of Canada, while also refining rules for crypto investment funds, custodians and cold storage practices.

Canadian lawmakers have identified several potential benefits of a national stablecoin framework. Source: Government of Canada

This shift is unfolding under Prime Minister Mark Carney, a former central banker who has previously expressed skepticism about cryptocurrencies. Despite that stance, policymakers are moving toward a more defined regulatory structure that integrates digital assets into the financial system while imposing tighter limits on their use in sensitive areas such as elections.

Related: Deloitte, Stablecorp plan stablecoin infrastructure for Canadian institutions

Cointelegraph is committed to independent, transparent journalism. This news article is produced in accordance with Cointelegraph’s Editorial Policy and aims to provide accurate and timely information. Readers are encouraged to verify information independently.

Bitcoin, Altcoins Remain Range Bound As Bulls And Bears Fight For Control

info@uweb3.io
-
0
Bitcoin, Altcoins Remain Range Bound As Bulls And Bears Fight For Control

Key points:

  • Bitcoin continues to face resistance near $79,500, but the trajectory remains up as long as the price holds above $76,000.
  • Most major altcoins are not showing any directional bias, suggesting a near-term consolidation.

Bitcoin (BTC) attempted to rise above $79,500, but the bears held their ground. BTC investor and author Michael Terpin told Cointelegraph that BTC risks falling to $57,000 in October 2026, based on a study of the “historical average” drawdown of about 1 year from a market-cycle top. Terpin added that BTC will have to rise above $100,000 for the bull market to resume.

Another negative view came from Bitcoin analyst Matthew Hyland, who said in a post on X that the “larger expected consensus outcome for BTC is another leg lower by October.” Veteran trader Peter Brandt also opined in an X post that BTC may form “an investable low” in September or October.

Crypto market data daily view. Source: TradingView

While several analysts expect a fall in BTC, crypto sentiment platform Santiment has a different view. Santiment said in a post on X that BTC wallets holding between 10 and 10,000 BTC have added 40,967 BTC since April 10, while retail investors holding less than 0.1 BTC have accumulated 46 BTC during the same period. If whales continue to buy and retail investors book profits, that may signal a long-term bull run.

Could BTC and the major altcoins rebound off the support? Let’s analyze the charts of the top 10 cryptocurrencies to find out. 

S&P 500 Index price prediction

The S&P 500 Index (SPX) rose to a new all-time high on Friday, indicating that the bulls are in command.

SPX daily chart. Source: Cointelegraph/TradingView

The upsloping 20-day exponential moving average (6,948) and the relative strength index (RSI) near the overbought zone suggest the up move may continue. The next levels to watch on the upside are 7,500 and then 7,877.

Sellers will have to swiftly yank the price back below the 20-day EMA to weaken the bullish momentum. If they manage to do that, the index may tumble to the 50-day simple moving average (6,795).

US Dollar Index price prediction

The US Dollar Index (DXY) reached the moving averages, where the bears are posing a stiff challenge.

DXY daily chart. Source: Cointelegraph/TradingView

The bears will attempt to push the price toward the 97.74 level, where buyers are expected to step in. However, if the bears push the price below the 97.74 level, the index may sink toward the 96.21-95.55 support zone.

On the upside, the bulls will need to sustain prices above the moving averages to increase the likelihood of a rally toward the 100.54 level. The bears will attempt to keep the index inside the 95.55 to 100.54 range by selling near the overhead resistance.

Bitcoin price prediction

BTC has been sustaining above the breakout level of $76,000, indicating that the bulls are not hurrying to book profits.

BTC/USDT daily chart. Source: Cointelegraph/TradingView

The upsloping moving averages and the RSI in the positive zone signal that the path of least resistance is upward. If buyers thrust the price above $80,000, the BTC/USDT pair may skyrocket to $84,000. 

Time is running out for the bears. They will have to quickly pull the BTC price below the 20-day EMA to gain the upper hand. The pair may then decline to the 50-day SMA ($71,820), signaling that the bears are active at higher levels.

Ether price prediction

Ether (ETH) remains above the 20-day EMA ($2,295), but bulls have failed to push it above the $2,465 resistance.

ETH/USDT daily chart. Source: Cointelegraph/TradingView

Sellers will attempt to strengthen their position by pulling the ETH price below the 20-day EMA. If they succeed, it suggests the ETH/USDT pair may remain within the ascending channel for a while longer.

Buyers will have to thrust the price above the resistance line to seize control. The pair may then soar to $3,050. Sellers will be back in the driver’s seat on a close below the support line.

XRP price prediction

XRP (XRP) remains stuck inside the $1.27 to $1.61 range, indicating buying on dips and selling on rallies.

XRP/USDT daily chart. Source: Cointelegraph/TradingView

The 20-day EMA ($1.40) has started to turn up gradually, and the RSI is near the midpoint, indicating that the bulls have a slight edge. There is minor resistance at $1.51, but if it is crossed, the XRP/USDT pair may reach the downtrend line. A break and close above the downtrend line signals a potential trend change. The pair may then rally to $2.

Sellers are likely to have other plans. They will attempt to pull the XRP price back below the moving averages, retaining the pair inside the range.

BNB price prediction

BNB (BNB) is finding support at the moving averages, but the bulls have failed to trigger a strong bounce off them.

BNB/USDT daily chart. Source: Cointelegraph/TradingView

Buyers will need to drive the BNB price above $654 to signal strength. The BNB/USDT pair may then test the $687 resistance level, a critical level to watch. If buyers pierce the $687 level, the pair may jump to $730 and then to $790.

Instead, if the price turns down from the current level or the overhead resistance and breaks below the moving averages, it suggests the pair may remain within the $570 to $687 range for a few more days.

Solana price prediction

Solana (SOL) continues to trade near the moving averages, indicating a balance between supply and demand.

SOL/USDT daily chart. Source: Cointelegraph/TradingView

There is a minor obstacle at $90.73, but if that level is broken, the SOL/USDT pair may reach the $98 resistance. Sellers are expected to defend the $98 level with all their might, as a close above it opens the doors for a rally to $117.

Alternatively, if the SOL price turns down from the current level or the overhead resistance and breaks below $82.94, it suggests that the bears are attempting to take charge. The pair may then collapse to the $76 support.

Related: First 21-week trend line reclaim since October 2025: Five things to know in Bitcoin this week

Dogecoin price prediction

Dogecoin (DOGE) has been gradually moving higher but is expected to face selling in the $0.10 to $0.11 zone.

DOGE/USDT daily chart. Source: Cointelegraph/TradingView

If the DOGE price turns down from the overhead resistance zone, it is expected to find support at the moving averages. A sharp bounce off the moving averages increases the possibility of a rally to the $0.12 level.

Contrarily, if the price turns down and breaks below the moving averages, it signals that the bears remain sellers on rallies. The DOGE/USDT pair risks resuming the downtrend if the $0.09 support breaks down. 

Hyperliquid price prediction

Hyperliquid (HYPE) resumed its northward march after breaking above the $41.88 resistance on Sunday.

HYPE/USDT daily chart. Source: Cointelegraph/TradingView

The uptrend is facing selling pressure in the $43.76 to $45.77 zone, as seen in the long wick on the candlestick. Sellers will attempt to sink the HYPE price below the 20-day EMA ($41.25), opening the door to a drop toward the 50-day SMA ($39.50). 

Conversely, if the price rises above the current level or the 20-day EMA and breaks above $45.77, it signals that the bulls remain in control. That may propel the HYPE/USDT pair toward the $50-$51.43 resistance zone.

Cardano price prediction

Cardano (ADA) has been clinging to the moving averages for several days, improving the prospects of an upside breakout.

ADA/USDT daily chart. Source: Cointelegraph/TradingView

The downtrend line is the crucial resistance to watch out for as a close above it signals a potential short-term trend change. The ADA/USDT pair may surge to $0.32, then to $0.37.

On the contrary, if the ADA price turns down sharply from the downtrend line, it suggests that the bears are aggressively defending the level. The pair may then slump to the $0.22 support.

Stellar (XLM) drops 3.4%, leading index lower

info@uweb3.io
-
0
Stellar (XLM) drops 3.4%, leading index lower

CoinDesk Indices presents its daily market update, highlighting the performance of leaders and laggards in the CoinDesk 20 Index.

The CoinDesk 20 is currently trading at 2106.81, down 0.8% (-17.25) since 4 p.m. ET on Friday.

Three of 20 assets are trading higher.

Leaders: AAVE (+1.0%) and CRO (+0.8%).

Laggards: XLM (-3.4%) and NEAR (-2.9%).

The CoinDesk 20 is a broad-based index traded on multiple platforms in several regions globally.

Meta Taps Solar Energy to Power Data Centers

info@uweb3.io
-
0
Meta Taps Solar Energy to Power Data Centers

Meta on Monday said it had agreed to what it called a “first of its kind” deal harnessing solar energy to power AI data centers.

The Facebook parent company has signed a deal with startup Overview Energy to access up to 1 gigawatt of capacity from Overview’s space solar energy system.

Under the agreement, the partners plan to launch a thousand satellites into space. These would then direct infrared light to existing solar farms on Earth and convert it into electricity for data centers worldwide.

Financial terms of the deal were not disclosed.

Founded in 2022, Overview says its satellite system enables power to be routed worldwide based on demand without requiring an infrastructure overhaul on the ground.

Overview says it has already successfully proven the viability of the system, transmitting power from an aircraft to the ground. An initial orbit of the constellation to prove its efficacy in space is expected in 2028, with the first commercial delivery projected by 2030.

Related:DeepSeek-V4 Could Change Global AI Model Race

“Space solar technology represents a transformative step forward by leveraging existing terrestrial infrastructure to deliver new, uninterrupted energy from orbit,” Nat Sahlstrom, vice president of energy and sustainability at Meta, said in a release. 

With terrestrial data sites facing pushback over high land, water and energy consumption, AI vendors are increasingly turning to creative alternative methods to meet power needs. Deep sea and space, in particular, have been gaining traction, with other emerging players including Amazon’s Blue Origin and Los Angeles-based Orbital.

According to the companies, the deal makes Meta one of the first major corporations to secure rights to future space solar energy capacity delivered from orbit to the grid.

“Space is becoming part of America’s energy infrastructure,” Marc Berte, CEO of Overview, said in a statement. “Together with Meta, we’re looking beyond traditional constraints on where and when power can be delivered to meet the growing demand for electricity.”

Be Scared If You Don’t Own Bitcoin

info@uweb3.io
-
0
Be Scared If You Don’t Own Bitcoin

Speaking on the Nakamoto Stage, Tim Draper told attendees that bitcoin has entered the financial mainstream and that governments now roll out “the red carpet” for the industry. He said the community is “starting to feel like something is happening” as adoption grows, and he cast that shift as the early phase of a larger transition in the money system.

In his view, people will move in stages: first from dollars to stablecoins, then from stablecoins to bitcoin as the final store of value and unit of account.

Draper praised Satoshi Nakamoto’s design of BTC as a system with no government control, no middleman banks, and no traditional account records. He described his own early journey with the asset, including buying large amounts of BTC, then losing those holdings amid front-running and failures at Mt. Gox. That episode led him to question whether the experiment was worth the risk until he watched crypto usage spread in markets around the world and decided to buy again.

To illustrate the fragility of fiat money, Draper told a personal story about a “one–million–dollar bill” that his father gave him when he was young. The bill turned out to be a Confederate note with no value, which he held up as a warning that government currencies can fail, leaving savers with worthless paper.

He connected that story to his decision to purchase bitcoin from the U.S. government in an auction of seized coins, where he paid above market because he viewed bitcoin as a superior long-term asset.

Draper: You should be scared if you don’t own bitcoin

Draper outlined a scenario in which retailers begin by accepting bitcoin alongside other payment methods and then transition to accepting only bitcoin.

In that world, he said, consumers would rush to banks to pull out their money and convert into BTC as trust in national currencies declines. He told the audience that anyone who manages a family “ought to have about six months’ worth of bitcoin” as protection against such a breakdown.

He extended that warning to sovereigns facing inflation or fiscal stress. If a government encounters hyperinflation and holds no BTC on its balance sheet, Draper argued, its currency and the wealth of its officials could become worthless in real terms.

“You should be scared if you don’t own bitcoin,” Draper said he is telling people these days, adding that those without exposure “should be very, very worried.”

Draper closed with a call to action aimed at the entire BTC ecosystem around him. He said that “those of us who have bitcoin are gonna help steer the world” as legacy currencies lose value, and he told attendees to go home and tell their families to buy bitcoin, their governments to buy bitcoin, and their friends to buy BTC.

Addressing founders and builders, he urged entrepreneurs to “push it as hard as you can,” saying that broad BTC ownership is both a hedge against currency risk and a path to a new monetary standard.

Bitcoin Bears At Risk Of $1.4B Liquidation If BTC Rallies To $80K

info@uweb3.io
-
0
Bitcoin Bears At Risk Of $1.4B Liquidation If BTC Rallies To $80K

Key takeaways:

  • Persistent spot market accumulation from Bitcoin ETFs and Strategy provided a price floor for Bitcoin and threatens to trigger a short squeeze.
  • Negative funding rates and cautious options skews could trap bears if the Federal Reserve policy shifts or high oil prices trigger higher inflation.

Bitcoin (BTC) price sustained levels above $76,000 for the past week, distancing itself from its year low at $60,500. The recent bullish momentum came as crude oil prices jumped above $100 and the S&P 500 hit new trading highs, but futures market data may point to a short-term rally-ending outcome for Bitcoin.

A total of $1.4 billion in leveraged short positions near $80,000 has been built over the past 48 hours, according to CoinGlass data, and Bitcoin’s rejection at $79,500 has raised alarm.

Estimated Bitcoin futures liquidation levels, USD. Source: CoinGlass

Federal Reserve decision, inflation data may push Bitcoin above $80,000

The lack of investors’ appetite for bullish Bitcoin leverage has been evident, but a bear trap could spring if the US Federal Reserve adopts a less restrictive monetary policy or if investors anticipate higher inflation, which would reduce the expected net returns from fixed-income assets.

Bitcoin perpetual futures annualized funding rate. Source: Laevitas

The Bitcoin perpetual futures annualized funding rate has remained mostly negative over the past two weeks, a typical sign of growing bearish confidence. Curiously, this happened while Bitcoin’s price jumped to $78,000 from $72,000 on April 9 and most of those bets are at a loss at $76,700. A rally above $80,000 would likely force traders to close their positions.

Data show investors are no longer anticipating interest rate hikes from the Fed, even as Brent crude prices have reclaimed the $100 level. The pressure from high energy prices has a cascading impact on inflation expectations, but the Fed is also concerned with the weakening job market and economic growth.

Implied target rate probabilities for Sept. 16 Fed meeting. Source: CME FedWatch tool

US government bond futures contracts presently indicate 20% odds of interest rates decreasing by September, marking a complete turnaround from one month prior. Traders realized that the Fed is in a tough spot, hence the 3.95% yield on 5-year US Treasury became less appealing. An interest rate cut exerts upward pressure on inflation.

Sustained spot Bitcoin buying supports BTC’s bullish momentum

Bitcoin’s bullish momentum has been driven by the spot market, evidenced by Strategy (MSTR US) adding $255 million in BTC between April 20 to April 26 and the $824 million net inflows into US-listed Bitcoin exchange-traded funds (ETFs). Bitcoin buyers continued to accumulate despite the failed attempts to hold above $79,000.

Related: Critical Bitcoin trend change in works, but analysts say daily close above $80K required

To determine if professional Bitcoin traders are effectively leaning bearish, one should assess the options markets.

Bitcoin options 30-day delta skew (put-call) at Deribit. Source: Laevitas

The Bitcoin options delta skew shows put (sell) options trading at an 11% premium relative to call (buy) options, consistent with a bearish market. Whales and market makers are uncomfortable with downside risk, which reinforces the thesis of a potential bear trap if Bitcoin reclaims $80,000 in the near term.

Further Bitcoin bullish momentum remains far from certain, but as long as spot market demand remains strong, the pressure on short positions may continue to mount. If the current accumulation trend persists alongside a softening of Federal Reserve policy, the resulting liquidity squeeze could easily propel the price well beyond the $80,000 resistance level.

1...412413414...1,320Page 413 of 1,320