Quivr has launched on the Apple App Store, with an Android and web version scheduled to be released in about two weeks, developers told Cointelegraph. Over 10,000 users created accounts during the app’s beta period.Continue Reading on Coin Telegraph More
Yield Protocol was one of the 11 decentralized finance protocols that suffered losses after the attack on the noncustodial lending protocol Euler Finance. It paused mainnet borrowing after the hack on March 13 and claimed losses from its liquidity pools were under $1.5 million. Euler lost over $195 million in the attack.Continue Reading on Coin Telegraph More
The report, titled “Q2 De.Fi Rekt Report,” was partially based on data from De.Fi’s “Rekt Database.” Over $208.5 million was initially lost during the quarter, but $4.5 million was recovered through prosecutions, deals with hackers and other recovery methods.Continue Reading on Coin Telegraph More
In a June 27 filing in the United States District Court for the Southern District of New York, Judge Lewis Kaplan issued a memorandum opinion on motions that would have stopped the discovery and disclosure of certain information related to SBF’s criminal case. Bankman-Fried’s legal team filed motions on May 8 aiming to have the judge dismiss 10 out of the 13 criminal counts he faces, which would have left only conspiracy to commit commodities fraud, conspiracy to commit securities fraud and conspiracy to commit money laundering.Continue Reading on Coin Telegraph More
In mid-June, the investment firm BlackRock (NYSE:BLK) filed an application for a spot Bitcoin ETF, triggering notable optimism in cryptocurrency markets.Continue Reading on Coin Telegraph More
(Reuters) – What would Satoshi make of it all? Bitcoin, the currency created to subvert the financial establishment, has shaken off weeks of sickness with the support of Wall Street’s finest.The original crypto coin has leapt 20% to two-month highs at $30,182 over the past 11 days after BlackRock (NYSE:BLK), the world’s largest asset manager, revealed hopes for a spot bitcoin exchange-traded fund (ETF) in the United States.BlackRock filed for a prospective spot bitcoin ETF on June 15, undeterred by the Securities and Exchange Commission’s (SEC) past record of rejecting every such application. The news helped bitcoin bounce out of the doldrums and snap two consecutive weeks of losses. Satoshi Nakamoto’s rebel child is invigorated by the prospect of an ETF that offers investors exposure to spot bitcoin on a regulated U.S. stock exchange without the hassle of custody.Bitcoin’s market value has grown to comprise nearly half of the $1.1 trillion overall crypto market, its highest share in over two years, according to data tracker CoinMarketCap.com. Its share was around 40% at the start of the year, up from a low of 34% in 2018.”The news of the ETF filing is evidence of adoption and interest from top global players, which is, of course, interesting to institutional investors and traders alike,” said Mikkel Morch, chairman at digital asset investment fund ARK36.Fueling optimism among some crypto advocates is BlackRock’s strong track record of getting the SEC’s green light for ETFs more generally, although it hasn’t filed for a crypto one before. It boasts a 575-1 approval rate, according to Rosenblatt Securities analyst Andrew Bond.Since the BlackRock filing, Invesco and WisdomTree have also reapplied for spot bitcoin ETFs after they had previous applications rejected by the regulator.The mini-rush of pitches to the U.S. watchdog comes days after the SEC sued major crypto exchanges Coinbase (NASDAQ:COIN) and Binance for allegedly breaking securities laws, casting a chill over the cryptocurrency market.Not everyone’s keen to jump in, though.”You know what the rules of the road are in equities and bonds. But you don’t fully know what the rules are going to be for crypto,” said Rick Meckler, partner, Cherry Lane Investments in New Vernon, New Jersey. “As a consequence it has made it difficult to make an investment class for many people, myself included.”ROLLING OVER FUTURESAt present, American investors currently looking to gain exposure to crypto on stock exchanges are limited to futures-based ETFs. These funds track bitcoin futures contracts, which come with the additional costs of rolling over contracts on settlement days.For example, ProShares’ Bitcoin Strategy ETF has risen 62% this year, lagging bitcoin’s 82% jump. Bryan Armour, director of passive strategies research for North America at Morningstar, said a spot bitcoin ETF could be a more cost-effective way for investors to trade.”It doesn’t appear that most crypto ETF holders are institutional – assets are pretty spread out,” he added.Crypto investment products are still a tiny part of the overall market. Excluding grantor trusts – limited to accredited investors – such as the Grayscale Bitcoin Trust, the current crypto ETF market totals about $2 billion, according to MorningStar Direct, less than 2% of overall crypto market. BITO, the first bitcoin futures ETF and the fastest to notch $1 billion in market cap after its launch in 2021, ushered in a wave of other futures ETF launches.About 48% of respondents in a survey this year of 549 international professional investors by TrackInsight, J.P. Morgan Asset Management and State Street (NYSE:STT) said they would consider investing in single-cryptocurrency exchange-traded products, versus 37% who were interested in investing directly.”I’d argue BlackRock is just as interested in retail as institutional,” said David Wells, CEO of Enclave Markets.”They may start with institutions but potentially hope that bitcoin is an option that goes into investors’ retirement portfolios, and hoping the BlackRock name is a strong enough impetus to buy, and that’s a big draw for retail investors.” More
During training, DALL-E makes use of a sizable collection of text-image pairs. It learns to associate visual cues with the semantic meaning of text instructions. DALL-E creates an image from a sample of its learned probability distribution of images in response to a text prompt. Continue Reading on Coin Telegraph More
Understanding M1 is crucial. It is a monetary aggregate that includes physical currency and coins, demand deposits, traveler’s checks, other checkable deposits and negotiable order of withdrawal (NOW) accounts. M1 is a measure of the money supply that includes the most liquid portions of the money supply because it contains currency and assets that can be quickly converted to cash.Bitcoin’s price has seemingly been in a range since 2018, with critical levels appearing at $6,000 in 2018 and 2019, and $30,000 in 2021 and 2022. While these price points may appear disparate at first glance, they can be perceived as essentially the same level when adjusted for changes in the M1 money supply. This adjustment provides a more accurate picture of real value over time.Over the past four years, the M1 supply has seen significant growth due to various factors such as government stimulus programs and central bank actions. When we adjust Bitcoin’s price against this increased supply of money, the perceived price levels become relative. The $6,000 level in 2018 and 2019 becomes equivalent to the $30,000 level seen in 2021 and 2022.The exciting news is that Bitcoin looks to be reclaiming this adjusted level despite the M1 money supply having been contracting for a year. This indicates that Bitcoin is strengthening in real terms and could be setting the stage for another bullish run.If Bitcoin’s value continues to grow against the M1 supply, the $60,000 peak may be within sight again. This would align with the views of several analysts who believe that the fundamentals for Bitcoin are still robust, and the coin is well-positioned for a strong comeback.This article was originally published on U.Today More
