On Oct. 30, the United Kingdom issued the policy statement, which includes 27 signatories, including the governments of the United States, Australia, Korea, Germany and Italy, along with social media platforms Snapchat, TikTok and OnlyFans.Continue Reading on Cointelegraph More
Scott Johnsson, an attorney from Davis Polk, drew attention to this meeting via a tweet on social media platform X (formerly known as Twitter), which will discuss administrative proceedings and litigation claims.This anticipation comes in the wake of ProShares Bitcoin Strategy ETF (BITO), becoming the fastest ETF to reach the $1 billion mark. Before BITO’s launch, a leak from an SEC meeting reported by Bloomberg suggested readiness to allow the first US Bitcoin futures ETF under mutual fund rules. Johnsson proposed that a similar leak might occur concerning Grayscale’s spot Bitcoin ETF.Grayscale’s unopposed aim to convert its GBTC into a spot Bitcoin ETF has captured significant attention. A pivotal question is whether the SEC will approve only Grayscale’s application or extend its approval to other applicants simultaneously.A host of prominent applicants, including BlackRock, Fidelity, Ark Invest, VanEck, and Valkyrie Funds, have submitted amendments to their applications. James Seyffart recently tweeted about Valkyrie Funds joining this amendment movement. Johnsson highlighted June 15, 2023 – when Blackrock (NYSE:BLK) lodged its spot ETF application – as a significant date on SEC chair Gary Gensler’s busy calendar.Despite these promising developments, there are speculations about a possible unexpected rejection of spot Bitcoin ETF applications by Gensler, humorously referred to as a “Gensler semi-comedic rug-pull”. While Johnsson acknowledges this possibility, he finds it hard to envisage.This article was generated with the support of AI and reviewed by an editor. For more information see our T&C. More
Historical data reveals that XRP’s performance in November has been inconsistent. The average return for this month is 77.3%, however, the median return stands at -10.2%. This disparity underscores the unpredictable nature of the crypto market and the potential for significant fluctuations in the value of digital assets.As we approach November, two potential outcomes are projected for XRP. The token could either see a rise to $1 or experience a decline to $0.52. This wide range of possible outcomes further illustrates the volatile nature of the cryptocurrency market.Notably, November 2020 witnessed an exceptional gain of 178.3% for XRP. This past performance adds to the anticipation surrounding the upcoming month and creates intrigue around whether similar gains can be replicated.This article was generated with the support of AI and reviewed by an editor. For more information see our T&C. More
Zhao used an unusual analogy to illustrate his argument, comparing the relationship between fiat and cryptocurrencies to that of napkins and ties. Just as napkins did not render ties obsolete, he believes cryptocurrencies will not entirely phase out fiat currencies. His comments sparked a debate on the platform, with some users offering counterarguments focusing on the rapid devaluation of fiat currencies.The volatile nature of the cryptocurrency market was underscored by Zhao’s own financial situation. His net worth has seen a significant reduction from $96 billion in January 2022 to $17.2 billion, highlighting the inherent risks and fluctuations within this emerging marketplace.Despite this personal financial shift and the ongoing debate between fiat and crypto, Zhao maintains that traditional financial instruments like fiat currencies will persist and coexist with cryptocurrencies as part of the evolving financial sector.This article was generated with the support of AI and reviewed by an editor. For more information see our T&C. More
In addition to these market dynamics, Whale Alert reported two major XRP transactions earlier this week. The first transaction involved the movement of 50 million XRP, equivalent to $27.6 million, from CryptoCom exchange to an anonymous wallet. This outflow could be related to safekeeping or over-the-counter (OTC) transactions that typically go undetected on-chain.The second transaction saw 26.7 million XRP ($14.8 million) transferred from an unknown wallet to the Bitstamp exchange. This inflow could indicate a potential sell-off, as some market observers interpret such moves as warning signs of an impending sell-off. Alternatively, it could be earmarked for passive-earning products available on Bitstamp’s platform.Despite the uncertain intentions behind these transactions causing a somewhat bearish outlook among some participants, XRP’s price and trading volume have shown strength, indicating a continued interest in this digital asset.This article was generated with the support of AI and reviewed by an editor. For more information see our T&C. More
On its support page, Kraken specifies that the summons to produce “a wide range of records and data” on its U.S. clients and pass it to the IRS came in a court order from the U.S. District Court for the Northern District of California in May 2021. The company objected to the IRS’s demands and fought the summons in court, convincing it to “substantially reduce” the number of clients affected and the amount of client data. Continue Reading on Cointelegraph More
However, the path higher may not be easy. The Federal Open Market Committee’s meeting on Nov. 1 may cause some volatility, but it will li be short-lived as no surprises are expected. CME’s FedWatch Tool projects a 98% probability that rates will remain unchanged.Continue Reading on Cointelegraph More
Bankman-Fried denied knowing why crypto exchange FTX began moving user funds from a bank account with Alameda to North Dimension. He suggested that banks may have been more comfortable with North Dimension in order to avoid well-known hedge funds connected to crypto, such as Alameda.Continue Reading on Cointelegraph More
