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Tarang Khaitan

Tarang Khaitan

Tarang has been a blockchain enthusiast since 2017. Before joining Decrypt, he wrote for The Defiant. Before that, Tarang wrote for Crypto Briefing and DeFi Rate. He has no major crypto holdings at this time.

Stories by Tarang Khaitan

  • Image created by Decrypt using AI.

    Ethereum Gains as $20 Million Worth of Shorts Get Liquidated

    Ethereum, the leading smart contract layer-1 blockchain, has gained 3.2% in the past 24 hours. ETH touched its intraday high of $3,514 earlier today and is currently trading for $3,488. Derivative traders getting liquidated appears to be the key factor for this upswing in the Ethereum price. A total of $20.4 million worth of ETH shorts were liquidated in the past 24 hours, which far outweighs the $1.87 million worth of ETH longs were liquidated during the same period, according to derivatives an...

    NewsMarkets
    2 min read
    Tarang Khaitan
  • Image created by Decrypt using AI.

    Bitcoin and Broader Market Choppy Ahead of US GDP Report

    Bitcoin and the broader cryptocurrency market are choppy ahead of the release of finalized U.S. gross domestic product data later today. The vast majority of the assets in the top 100 coins by market cap are trading in the red. Bitcoin has, once again, breached the $61,000 mark and currently trades for $60,670 at the time of writing, according to CoinGecko. The finalized gross domestic product data for the U.S.—the biggest indicator of whether the economy is growing or declining—is expected to s...

    NewsCoins
    3 min read
    Tarang Khaitan
  • VanEck has applied for a Bitcoin ETF. Image: Shutterstock.

    Ethereum ETF Issuers Are Already Racing to Drop Fees

    The fee for VanEck’s proposed spot Ethereum ETF will be waived after launch until 2025 or when the fund’s assets under management (AUM) reach $1.5 billion mark—whichever comes first—according to an amended SEC Form S-1 filing. When either of the aforementioned stipulations is fulfilled, the global asset manager will levy a 0.2% fee. Across its currently trading funds, which includes the VanEck Bitcoin Trust, the firm currently has $102 billion assets under its management. VanEck is not the only...

    NewsMarkets
    3 min read
    Tarang Khaitan
  • Image created by Decrypt using AI

    Bitcoin Rebounds 5% as Analysts Argue Mt. Gox Fears Are Overblown

    Investors can breathe a sigh of relief as net inflows in U.S. spot Bitcoin ETFs exceeded net outflows to the tune of $31 million for the first time in two weeks, according to data analytics platform SoSovalue. This newfound vote of confidence in Bitcoin from institutional investors has coincided with the Bitcoin price recovering from $59,495 to $61,485 at the time of writing, an increase of 3.5% after Bitcoin breached the $60,000 mark on June 25. Fidelity’s FBTC fund saw the highest inflow of $4...

    NewsMarkets
    3 min read
    Tarang Khaitan
  • Pinokio. Image created by Decrypt using AI

    Bitcoin ETFs Lost $174 Million After Confirmation of Mt. Gox Repayments

    Institutional investors have been relentlessly selling U.S. spot Bitcoin ETFs. In the past five trading sessions, Bitcoin ETFs have seen net outflows of $714 million, according to data analytics platform SoSovalue. Net outflows amounted to $174 million yesterday after it was revealed that Mt. Gox creditors will finally start getting reimbursed beginning next week. Grayscale’s GBTC fund saw the highest outflow of $90 million, while Fidelity’s FBTC fund witnessed an outflow of $35 million. BTC bri...

    NewsMarkets
    2 min read
    Tarang Khaitan
  • Image created by Decrypt using AI

    Nearly $100 Million Longs Liquidated as Bitcoin Dips Below $61,000

    Bears appear to be in control of the market, as the leading cryptocurrency Bitcoin has dropped below the $61,000 mark. As it has, nearly $100 million worth of BTC longs have been wiped out in the past 24 hours. Bullish derivatives traders of all cryptocurrencies—not just Bitcoin—have seen their wealth erode to the tune of $260 million in the past 24 hours, according to derivatives analytics platform CoinGlass. In stark contrast, derivatives traders who shorted assets saw minor losses, as short l...

    NewsCoins
    2 min read
    Tarang Khaitan

  • Bitcoin Dives to $61,000 as Mt. Gox Says BTC Repayments Begin Next Week

    More than a decade after losing their funds, Mt. Gox creditors will start receiving repayments in Bitcoin and Bitcoin Cash commencing in early July, according to a note by Mt. Gox Rehabilitation Trustee Nobuaki Kobayashi. The note suggests that compliance measures and exchange cooperation have already taken place. “We have taken time to ensure safe and reliable repayment to creditors, including technical remedies for safe repayments, compliance with financial regulations in each country, and dis...

    NewsMarkets
    2 min read
    Tarang Khaitan
  • Image created by Decrypt using AI

    Why Ethereum Derivatives Traders Are Deploying an Iron Condor Strategy

    Ethereum has fallen to $3,480, a 3% slip in the past 24 hours. Traders at Wintermute told Decrypt that ETH appears to be range-bound between $3,200 and $3,400 as derivatives traders are likely profiting from an Iron Condor strategy. The firm added that Bitcoin has been similarly range-bound between $63,000 and $65,000. "Market consensus is these areas take importance as 'lines-in-the sand'," an analysts from the firm's trading desk told Decrypt, "and I'm seeing traders lean on them to define ris...

    NewsCoins
    3 min read
    Tarang Khaitan
  • Ethereum. Image: Shutterstock

    Ethereum Stays Above $3,500 as Open Interest Drops

    Ethereum, the leading smart-contract Layer-1 blockchain, has witnessed a sharp decrease in its open interest, which has dropped to $11.5 billion. It has dropped by $1.5 billion in the span of two weeks, according to data from CryptoQuant. Open interest in Ethereum peaked on June 5, and since then, $400M of liquidations have taken place, with long liquidations standing at $285 million. Prior to June 5, the previous all-time high in Ethereum’s open interest stood at $9.5 billion in 2021, when ETH’...

    NewsMarkets
    3 min read
    Tarang Khaitan
  • Image created by Decrypt using AI

    Bitcoin Boredom Will Continue Until ETF Withdrawals Improve

    U.S. spot Bitcoin ETFs have witnessed net outflows of almost $300 million in the past two days. The Bitcoin price has successfully reclaimed the $65,000 mark after it sank down towards $64,000 yesterday. The leading cryptocurrency is seemingly range bound between $65,500 and $64,000, according to analysts. Bitcoin’s short-term price movement will thus likely remain muted in the absence of any key catalysts. And the worrying trend of institutional investors selling their Bitcoin ETF shares from l...

    NewsMarkets
    3 min read
    Tarang Khaitan
  • Martin Shkreli in 2016. Image: NBC News/YouTube

    If Martin Shkreli Created DJT Solana Meme Coin with Barron Trump—Does That Settle the GCR Bet?

    Martin Shkreli, better known as Pharma Bro, said he was involved in the creation of the DJT token, a Solana-based meme coin that claimed to have ties to the Trump family. The fiasco started after crypto analytics platform Arkham Intelligence initiated a $150,000 bounty for anyone who could prove the identity of the DJT token creator. This was likely done in response to a potential $100 million bet made between pseudonymous crypto trader GCR and Shkreli. 100 million if you don't have 100 million...

    NewsMarkets
    5 min read
    Tarang Khaitan
  • Image edited by Decrypt using AI

    Ethena Tokenomics Change Sparks Community Outrage

    Ethena Labs has announced an overhaul to its tokenomics, which now requires airdrop recipients to lock up at least half of their ENA tokens. This unexpected move caught users off-guard and caused an uproar. Under the new rules, ENA airdrop recipients will have to lock up 50% or more of their airdropped tokens or risk losing their unvested ENA tokens. The rule went into effect on June 17—several months after the April ENA airdrop. The team said that by enforcing this rule, they want to encourage...

    NewsCoins
    3 min read
    Tarang Khaitan
  • Image: Shutterstock

    Bitcoin Still in the Red as Fed Pessimism Sets In and BTC Miner Selling Continues

    Bitcoin has fallen below $65,000 to its lowest price in a month, while the recently launched zkSync token was the biggest loser in the top 100 coins by market capitalization. The total market capitalization of the entire cryptocurrency space tumbled from $2.55 trillion to $2.48 trillion, a decrease of 2.5%, according to CoinGecko. Leading cryptocurrency Bitcoin fell to $64,548 in the past 24 hours, thus recording its lowest level in the past one month. Last week, Bitcoin fell to $65,240 after lo...

    NewsCoins
    3 min read
    Tarang Khaitan
  • Image created by Decrypt using AI

    Bitcoin ETFs Cool as Crypto Funds Post Biggest Losses Since March

    The Federal Reserve’s hawkish stance last week has seemingly lowered institutional investors’ confidence in the markets, as total outflows across all crypto exchange-traded products (ETPs) last week stood at $600 million. That makes last week the worst for crypto ETP—including ETF—outflows since March. Investors appear to have lost confidence because of the dot plot—a collection of forecasts by the Fed presidents and governors. The plot now indicates that the Federal Reserve anticipates only one...

    NewsMarkets
    3 min read
    Tarang Khaitan
  • Joe Biden: Secret Bitcoin maxi? Image: Joe Biden

    Biden Officials Will Attend Bitcoin Roundtable in DC: Leaked Report

    In a surprising turn of events, officials from the U.S. President Joe Biden’s administration are set to attend a Bitcoin roundtable in Washington, D.C., in early July, according to a report. The roundtable is being spearheaded by Rep. Ro Khanna (D-CA) and will be attended by Biden administration officials, lawmakers from both the House and the Senate, and billionaire Mark Cuban, according to documents shared with Bitcoin Magazine. Rep. Khanna and Cuban were the only individuals whose identities...

    NewsMarkets
    3 min read
    Tarang Khaitan

  • 94% of Central Banks Considering a CBDC, Says BIS

    The Bank for International Settlements (BIS) has found that 94% of central banks surveyed are exploring Central Bank Digital Currency (CBDC). But according to the report, central banks are more likely to issue wholesale CBDC than retail CBDC in the next six years. There is a significant difference between a CBDC that's wholesale and retail. A wholesale CBDC is used for transactions that take place between banks and other financial institutions, whereas retail CBDC are meant for general public us...

    NewsCoins
    3 min read
    Tarang Khaitan
  • Solana. Image: Shutterstock

    GameStop Solana Meme Coin GME and Iggy Azalea's MOTHER See Big Weekly Losses

    The past 7 days have been rough for Solana meme coins, with the vast majority of tokens decreasing between 20% and 50%. Amid the ongoing rout, GME and MOTHER were hit the hardest. GME, which is not affiliated with but rather inspired by GameStop, is down 54% in the past 7 days. This is likely due to Keith Gill, better known online as Roaring Kitty, sharing his holdings on social media platform Reddit, which showed that the meme stock mascot no longer held GameStop options, which were once worth...

    NewsCoins
    2 min read
    Tarang Khaitan
  • MicroStrategy and Bitcoin. Image: Shutterstock

    MicroStrategy To Raise $500 Million Using Convertible Notes To Buy Bitcoin

    MicroStrategy, the largest corporate holder of Bitcoin, is issuing unsecured senior convertible notes worth $500 million so it can buy even more BTC for its treasury. In April, MicroStrategy bought an additional 122 BTC, bringing its total Bitcoin holdings to 214,400 BTC, worth approximately $14.52 billion at the time of writing. The company now owns more than 1% of Bitcoin’s total supply, which is capped at 21,000,000 BTC. This puts MicroStrategy leagues ahead of its competitors, with its Bitco...

    NewsBusiness
    2 min read
    Tarang Khaitan
  • Bitcoin is the leading crypto asset by market cap. Image: Created by Decrypt using AI

    Bitcoin Settles After Wild Inflation and Interest Rate Roller Coaster

    The past 24 hours have been a volatile roller coaster for Bitcoin. The BTC price spiked after the Consumer Price Index (CPI) print came in better than expected right before markets opened in the U.S. The rally, however, was short-lived, as Bitcoin’s price tumbled after commentary from Fed Chair Jerome Powell. At the time of writing, the Bitcoin price has settled at $67,350—about 0.7% lower than it was this time yesterday, according to CoinGecko data. On Wednesday, Bitcoin’s price rallied to $69,...

    NewsMarkets
    3 min read
    Tarang Khaitan
  • Image: Imagepocket/Shutterstock

    Bitcoin Whale Moves $535 Million After Over 5 Years Of Dormancy

    An unknown entity transferred Bitcoin worth approximately $535 million to crypto exchange Binance on June 11 after five and a half years of inactivity. Blockchain data indicated that the whale has made around $505 million in profit on its investment of 8,000 BTC. The whale had purchased all 8,000 BTC for just over $30 million in December 2018—after which the wallet lay dormant until yesterday. Interestingly, all major BTC inflows in the wallet indicate that the whale had likely bought Bitcoin du...

    NewsCoins
    2 min read
    Tarang Khaitan
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