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Last Updated : September 26, 2022 / 10:26 AM IST
Top cryptocurrency news on September 26: Bitcoin at Rs 16.09 lakh, ZebPay CEO quits, and more<!– Moneycontrol Daily | Your Essentials 7 –>
A daily round-up of the most interesting articles on cryptocurrencies like Bitcoin, Ethereum and Tether to help jump-start the day
Market Buzz
Bitcoin at Rs 16.09 lakh
Major cryptocurrencies were trading in the red early on September 26 as the global crypto market cap dropped 1.10 per cent to $924.03 billion over the last day. The total crypto market volume over the last 24 hours is $52.83 billion, a decrease of 1.87 per cent. The total volume in DeFi is currently $3.46 billion, which is 6.56 per cent of the total crypto market 24-hour volume. The volume of all stable coins is now $47.95 billion, which is 90.76 per cent of the total crypto market 24-hour volume. The price of bitcoin hovered around Rs 16 lakh, with a dominance of 39.04 per cent currently, which is an increase of 0.12 per cent over the day, according to CoinMarketCap. Read full here
Big Story
Crypto exchange ZebPay’s CEO Avinash Shekhar quits; to launch his own web 3.0 start-up
As the going continues to get tougher for Indian cryptocurrency start-ups, ZebPay Chief Executive Officer (CEO) Avinash Shekhar has decided to move on. This comes a month after Chief Financial Officer (CFO) Tarun Jain left the company, multiple sources aware of the matter said. ZebPay is one of the largest cryptocurrency exchanges in India. When reached out, the ZebPay team confirmed the development to Moneycontrol, adding that Shekhar will now work on his own start-up, which will be operating in the Web 3.0 and crypto tax compliance space. ZebPay will hold a minority stake in this new start-up. Read details here
Funding Buzz
Bitcoin Miner Iris Energy to sell $100 million in equity to B. Riley
Iris Energy, a publicly traded sustainable Bitcoin mining firm (IREN), has agreed to sell investment bank B. Riley Financial up to $100 million in equity over a two-year period. That’s B. Riley’s second significant investment in the mining sector (it signed the same $100 million deal with Core Scientific in July) despite the industry facing stiffening competition and narrowing profits amid the crypto bear market. The move shows the continued interest some traditional financial firms still have in Bitcoin even in the face of obvious headwinds. According to a filing with the SEC on Friday, B. Riley could buy up to 25 million IREN shares in the 24 months following September 23, amounting to a 31% stake in the company. Iris has already issued 191,174 ordinary shares from that total as consideration for the bank’s commitment. Take a look
The Week on Dalal Street | Weekly wrap of market trends, stock moves & what to look out for!
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Copyright © e-Eighteen.com Ltd All rights resderved. Reproduction of news articles, photos, videos or any other content in whole or in part in any form or medium without express writtern permission of moneycontrol.com is prohibited.
