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Crypto

Visa weighs $2.5 billion bid for Fireblocks

Crypto custody firm Fireblocks has denied reports that Visa is in late-stage talks to acquire it for about $2.5 billion, The Block reported on Oct. 22. Axios earlier reported the talks, citing multiple sources. Fireblocks said the report was new to it and not true at this time. A Visa spokesperson said it does not comment on rumours or speculation. Fireblocks was valued at $8 billion in a 2022 funding round.

Crypto

Can Bitcoin be an inflation hedge in an era of high prices?

Inflation may lift Bitcoin’s investment appeal while higher interest rates increase the cost of holding it, an analysis cited by CryptoSlate said. U.S. CPI rose 3.7 percent year on year in September, while the 3-month Treasury yield was 4.26 percent as of Oct. 13. The report compared cash buyers, borrowers and futures, showing how interest, opportunity costs and funding rates can drive different outcomes even with the same Bitcoin price.

Crypto

Bitcoin volatility expectations ease ahead of U.S. CPI, put bets build below $80,000

Put positions in Bitcoin options expiring this week are concentrated in the $76,000 to $80,000 range, with $80,000 the biggest strike for puts. Deribit open interest for the Oct. 16 expiry totals 15,502 BTC, or about $1.29 billion, with a put-call ratio of 1.43. Short-term volatility expectations have eased ahead of the Oct. 14 U.S. CPI release, while leverage in perpetual futures has edged lower.