cumberland

Auto Added by WPeMatico

German Government Liquidates $741M in Bitcoin Holdings

by

Ten hours ago, the German government’s bitcoin wallets transferred 1,205 BTC to various parties. At 7:40 a.m. EDT, the wallets held approximately 38,621 BTC, but by 4:30 p.m., the government’s bitcoin holdings had dropped to 26,686 BTC after divesting an additional 11,935 BTC. Currently, the government’s bitcoin wallet is valued at approximately $1.5 billion in … Read more

Cumberland Says Financially Burdened Crypto Firms Are ‘Hanging Over the Market Like a Cloud’

by

Following the over-the-counter (OTC) firm’s Twitter thread on June 14, Cumberland explained on July 5 that “​​rangebound price action belies a volatile picture below the surface,” while crypto markets consolidated during the past week. Cumberland stressed there’s a growing number of crypto companies feeling financial burdens, and “uncertainty” tied to stressed entities is “hanging over … Read more

Cumberland Sees Massive OTC Moves During Crypto Market Rout — ‘Most Volume We’ve Seen This Year’

by

During the last week, while crypto markets got hammered, digital currency-centric over-the-counter (OTC) trading desks were swamped with orders. The cryptocurrency OTC trading desk Cumberland, a subsidiary of DRW, explained that on June 13, the firm saw 30% more volume than the previous year-to-date high on May 13. Cumberland Says ‘On Big Swings, More Volume … Read more

OTC Desks Proliferate as Volume Shifts From Spot Markets

by

While trading volume on the top cryptocurrency exchanges declined dramatically during the second half of 2018, all signs suggest that over-the-counter (OTC) markets are now attracting increasing liquidity, with a number of prominent cryptocurrency exchanges entering the OTC space. Additionally, several major existing OTC desks have recently spoken of experiencing significant growth in trade volume. … Read more