Former US President Donald Trump May Change Crypto Stance Dramatically, Says Ex-SEC Official

The U.S. Securities and Exchange Commission’s former head of internet enforcement says former U.S. President Donald Trump’s anti-crypto stance may change dramatically. He further predicted that if a Republican is elected U.S. president, a Republican-appointed SEC chair would, at a minimum, approve a bitcoin exchange-traded fund (ETF) and “may even slow down considerably SEC crypto-related enforcement efforts.”

Former SEC Official on Donald Trump’s Anti-Crypto Stance

Former U.S. Securities and Exchange Commission (SEC) official John Reed Stark has argued that former President Donald Trump could “dramatically” change his position on cryptocurrencies. Stark is currently president of cybersecurity firm John Reed Stark Consulting. He founded and served as chief of the SEC Office of Internet Enforcement for 11 years. He was also an SEC enforcement attorney for 15 years. Trump is running for president in 2024.

“Former President Trump is on record as being strongly anti-bitcoin and anti-crypto,” Stark wrote on social media platform X Wednesday. However, the former SEC official argued:

Crypto-voters might be one-issue voters and are a powerful and passionate constituency, so perhaps former President Trump will change his crypto-tune dramatically.

Citing multiple media reports, he also noted that Trump now owns some cryptocurrency. The former U.S. president reportedly disclosed crypto holdings of $2.8 million in ether (ETH) in August after debuting a non-fungible token (NFT) collection last year.

In 2019, Trump stated that he is “not a fan of bitcoin or other cryptocurrencies,” emphasizing that they’re not money. He further said they are “based on thin air,” adding that “unregulated crypto assets can facilitate unlawful behavior, including drug trade and other illegal activity.” Moreover, he said in 2021 that crypto is very dangerous.

The former SEC internet enforcement chief concluded on Wednesday:

Under any circumstance, it seems likely that if a Republican is elected U.S. president, a Republican-appointed SEC chair would, in the least, approve a bitcoin spot ETF and may even slow down considerably SEC crypto-related enforcement efforts.

Last month, Stark highlighted a number of potential changes that could benefit the crypto industry. They included a Republican president being elected, SEC Chairman Gary Gensler resigning, and “crypto mom” Hester Peirce being appointed as the acting SEC Chair.

Do you think former U.S. President Donald Trump will become crypto-friendly? Let us know in the comments section below.

via Kevin Helms

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Robert Kiyosaki Expects Bitcoin to ‘Become Priceless’ When the Fed Launches Central Bank Digital Currency

Rich Dad Poor Dad author Robert Kiyosaki has predicted that bitcoin will “become priceless” when the Federal Reserve launches a central bank digital currency (CBDC). He warned that privacy will be destroyed, emphasizing that “Big Brother will be watching.” The famous author urged investors to start accumulating bitcoin now “before it’s too late.”

Robert Kiyosaki’s CBDC Warning, Urges Investors to Start Saving Bitcoin Now

The author of Rich Dad Poor Dad, Robert Kiyosaki, has warned about the risks of the Fed launching a central bank digital currency (CBDC). Rich Dad Poor Dad is a 1997 book co-authored by Kiyosaki and Sharon Lechter. It has been on the New York Times Best Seller List for over six years. More than 32 million copies of the book have been sold in over 51 languages across more than 109 countries.

Kiyosaki explained in a post on social media platform X Friday that the Federal Reserve’s central bank digital currency is coming and when that happens, privacy will be gone. “Big Brother will be watching,” he cautioned, adding that when the digital dollar launches, gold, silver, bitcoin, and cash will become priceless. He proceeded to urge investors to start saving gold, silver, bitcoin, and cash now before it is too late.

The renowned author is not the only one who is concerned about the Federal Reserve launching a central bank digital currency. Last week, the U.S. House Committee on Financial Services passed the CBDC Anti-Surveillance State Act with the support of 60 Congress members. “This bill is simple: It halts the efforts of this Administrative State under President Biden from issuing a financial surveillance tool that will undermine the American way of life,” explained Congressman Tom Emmer (R-MN) who introduced the bill. In March, U.S. Senator Ted Cruz similarly introduced legislation to prohibit the Fed from developing a direct-to-consumer CBDC.

However, the Fed is a long way from issuing a CBDC. In September last year, Federal Reserve Chairman Jerome Powell stressed that the central bank has not reached a decision on whether to issue a digital dollar. “We have not decided to proceed and we don’t see ourselves making that decision for some time,” he noted. “We see this as a process of at least a couple of years where we are doing work and building public confidence in our analysis and in our ultimate conclusion.”

Do you agree with Rich Dad Poor Dad author Robert Kiyosaki regarding the Fed’s central bank digital currency and bitcoin becoming priceless? Let us know in the comments section below.

via Kevin Helms

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‘I Won’t Tell if You Don’t’ — SEC Unearths Alleged Scheme by Do Kwon to Fabricate Terra Transactions

In the wake of the U.S. Securities and Exchange Commission’s (SEC) call to depose Terraform Labs creator and former CEO Do Kwon, the SEC unveiled an alleged exchange between him and his former associate Daniel Shin. The ex-Terra boss reportedly claimed he could fabricate transactions on the Terra blockchain to render them authentic and accrue fees, further penning that he could strive to render the doctored transactions “indiscernible.”

‘I Can Just Create Fake Transactions’ — SEC Publishes Leaked Chat Between Kwon and Shin

Court filings submitted by the SEC show a purported conversation between the Terraform Labs founder and former CEO Do Kwon and his business partner the former CEO of Chai, Daniel Shin. “Kwon perpetrated a scheme to fabricate Chai transactions on the Terraform blockchain to make it appear more active, all to dupe investors,” the SEC filing claims.

The U.S. securities regulator added:

For instance, in an extensive private chat between Kwon and Daniel Shin2 during the early stages of Chai and Terraform’s formation and partnership, Kwon details how he intended to use Chai to create fake transactions on the Terra blockchain, which would appear real and generate fees.

The alliance forged between Terra and Chai sparked considerable excitement upon its unveiling on June 11, 2019, with the company elucidating that the pact ushered Terra into South Korea’s TMON, a bustling e-commerce hub retailing a vast array of products from electronics and fashion to home decor and gifts.

The conversation allegedly held between Kwon and Shin, marked May 9, 2019, sees Kwon purportedly saying, “I can just create fake transactions that look real, which will generate fees.”

Within the disclosed dialogue, Shin probes the likelihood of discovery concerning the authenticity of these transactions. Answering the query, Kwon allegedly affirms, “I will try my best to make it indiscernible.”

Subsequent to persuading Shin into endorsing the scheme under a veil of confidentiality — a pact sealed with a playful ‘I won’t tell if you don’t,’ Shin seemingly proposes a smaller-scale trial to “see what happens.”

Recently, following the SEC’s initiative to depose Kwon, his legal representatives outlined the task as “impossible,” spotlighting his detention in Montenegro. The SEC’s legal team contests the stance of Kwon’s counsel, emphasizing the necessity of his interrogation.

“Currently, the SEC is being denied its fundamental right to gather the relevant facts because it has not had an opportunity to depose the most critical witness in this case, who has, through counsel, actively conducted his own discovery from the SEC and third parties,” the SEC document articulates.

The peculiar entanglement between Terra and Chai garnered speculation in the aftermath of the ecosystem’s downfall. Adding fuel to the fire, a whistleblower going by the alias “Fatman” unveiled a thread alleging Kwon morphed Chai into his “personal money laundering machine.”

“All he had to do was create the illusion of retail demand and then publicize the narrative that KRT was being used everywhere,” penned the whistleblower on May 28, 2022.

What do you think about the alleged conversation between Shin and Kwon? Share your thoughts and opinions about this subject in the comments section below.

via Jamie Redman

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Amid Falling Inscriptions, Bitcoin Miners Chip Away at Transaction Backlog

Bitcoin miners have been steadily clearing the mempool of unconfirmed transactions since the number almost reached 700,000 on September 6, 2023. Currently, the number of unconfirmed transactions has dropped to just over 153,000 pending confirmation.

Transaction Backlog Shrinks as Bitcoin Miners Face Fewer Inscriptions

On September 15, 2023, just over 500,000 unconfirmed bitcoin transfers lingered, awaiting miner confirmation, a decrease from the nearly 700,000 a week prior. Yet, as the curtain fell in September, the tally of unconfirmed transactions dwindled to a smidge over 153,000.

Data from both mempool.space and Johoe’s mempool statistics reflect that a substantial portion of the unconfirmed transfers have been processed. A couple of factors have augmented the miners’ capacity to navigate through the immense sea of unconfirmed transactions in the queue.

Firstly, block times have been shaving off a fraction of their 10-minute average, clocking in at around 8 minutes and 48 seconds as of this writing. Secondly, the tally of Ordinal inscriptions has seen a significant dip since September 25.

On that day, a mere 31,251 inscriptions were processed, a stark contrast to the 232,104 handled just a day prior. With a dip in inscriptions, the Bitcoin blockchain is processing significantly fewer transactions since hitting an all-time high earlier this month.

On the very day a mere 31,251 inscriptions were processed, miners confirmed 285,750 transactions. Come the next day, miners upped the ante a hair, confirming roughly 309,789 transfers.

Currently, data indicates a lingering 103.98 megabytes (MB) of block space awaiting confirmation, translating to about 54 blocks. Since April 22, 2023, the mempool hasn’t completely cleared, yet with the ongoing pace, there’s potential for it to clear sometime next month, provided daily inscriptions maintain their lower-than-usual trend.

What do you think about miners clearing the transaction backlog? Share your thoughts and opinions about this subject in the comments section below.

via Jamie Redman

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Darknet Marketplace Tor2door Vanishes, Allegedly Swindling a ‘Massive Crypto Escrow Balance’

Numerous reports have detailed that a darknet marketplace (DNM) by the name of Tor2door reportedly pulled off an exit scam, making off with a “massive crypto escrow balance.” Discontent began brewing among Tor2door users when the site vanished from the deep web on September 14, 2023, as per narratives emerging from individuals on the DNM forum Dread.

Tor2door’s Alleged Exit Scam Sends Ripples Through DNM Communities

This week several accounts have surfaced, pointing to a potential exit scam by the Darknet Marketplace (DNM) known as Tor2door, leaving its users and vendors high and dry. The revelation caught eyes on social media platform X, when DNM and Tor researcher ‘Dark Fail’ shed light on the market’s downfall.

“Tor2door darknet market exit scammed this week, stealing a massive crypto escrow balance of pending orders between their narcotics buyers and sellers,” remarked Dark Fail.

Kick-started in July 2020, Tor2door served as a hub for illegal drug transactions, while also offering guides on account hacking, carding, and various types of identity and financial fraud. The narrative of Tor2door’s alleged exit scam was also detailed by the website slcyber.io (Searchlight Cyber), which provided a comprehensive account of the events.

According to Searchlight Cyber, the market boasted more than 19,000 distinct listings and had 900 unique vendors. The chatter surrounding Tor2door’s issues reportedly began circulating on September 14, 2023. The ripples of concern transitioned into waves of distress on the Dread forum, as users found Tor2door’s mirror links rendered useless.

The unfolding narrative told by Searchlight Cyber depicted users in the subsequent days reaching out in desperation to Tor2door admins. Official vendors of Tor2door too voiced their grievances, leading to assumptions of either an exit scam or a law enforcement takedown swirling around.

The conversation has further spilled over to the Reddit on the clearnet forum r/topdarknetmarketplace. “Tor2door has been down for 2 days now,” one person wrote. “No sign from admin at this point. Could be DDoS. Do not take any mirror links from somebody or [a] website you don’t know [is] legit. Be careful folks.”

A post, published 11 days ago on r/topdarknetmarketplace, pondered the possibility of the DNM admin having been apprehended and subdued by law enforcement. Ever since the dawn of the Silk Road, DNMs have mushroomed, igniting a relentless cat-and-mouse chase between operators and the law.

Searchlight Cyber noted that competing “rival markets such as Cypher and Dark Matter” are now vying to attract Tor2door “refugees” towards their alternative DNMs.

What do you think about the DNM Tor2door’s possible exit scam? Share your thoughts and opinions about this subject in the comments section below.

via Jamie Redman

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‘FTX Drainer’ Resurfaces: Moves $8M ETH to Defi Platforms

Per onchain evidence, the culprit dubbed the “FTX drainer” shifted 5,000 ethereum valued at approximately $8 million, gauged by today’s exchange rates. This marked the first movement of the funds in nearly a year, with the malefactor channeling the ether into the decentralized finance (defi) platforms Railgun and Thorchain Router.

‘FTX Drainer’ Diverts $8M in Ethereum

Shortly after the downfall of FTX, the exchange fell victim to a cyber intrusion on November 11, 2022, parting with a substantial amount of ethereum (ETH) and ERC20 tokens. Following a handful of transfers post-hack, the funds lay dormant for almost a year.

However, on the dawn of September 29, 2023, the malefactor opted to relocate 2,500 ether, and merely three hours ensuing, an additional 2,500 ETH was shifted from the same address. The crypto sphere buzzed with the news as onchain sleuths broadcasted the maneuvers on the social media forum X.

Arkham Intelligence reported, “Breaking: The FTX Hacker holding over $300M of assets has moved ETH for the first time since 2022. A total of $8M thus far has been moved via Railgun and Thorchain.”

Thorchain serves as a decentralized cross-chain liquidity conduit permitting the exchange of assets across blockchain networks, while Railgun is engineered as a smart contract framework that extends zero-knowledge privacy for any onchain decentralized application on platforms like Ethereum, Polygon, Binance Smart Chain, and Arbitrum.

Both systems can help cloak transactions and can potentially muddle the hacker’s trail. Despite the migration of 5,000 ETH, the antagonist still commands a crypto arsenal worth $308.93 million. The “FTX drainer’s” hoard encompasses an array of digital currencies like ETH, USDT, BTC, USDC, DAI, BNB, among others. The hacker’s ETH treasure remains the crown jewel, valuing $303.14 million, dispersed across 31 unique blockchain addresses.

What do you think about the FTX drainer resurfacing and moving $8 million in ether? Share your thoughts and opinions about this subject in the comments section below.

via Jamie Redman

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Bitcoin, Ethereum Technical Analysis: Profit Takers Swoop in to Send BTC, ETH Lower

Bitcoin consolidated to start the weekend, as traders moved to secure gains following recent highs in the market. The global market cap was largely unchanged on Saturday, trading 0.06% lower at the time of writing. Ethereum also declined, after a one-month high on Friday.

Bitcoin

Bitcoin retreated from a ten-day high on Saturday, as bulls opted to secure profits from recent gains.

BTC/USD slipped to a low of $26,721.76 earlier in the day, which comes less than 24-hours after peaking at $27,075.94.

The move comes as bulls were unable to sustain a recent breakout above a ceiling at the $27,100 level.

Zooming into the chart, a failed break of the 58.00 resistance level on the relative strength index (RSI), also contributed to the downturn.

At the time of writing this, price strength is now tracking at 56.24, which is marginally above a ceiling of 55.00.

Bulls will likely make another run towards $27,000 this weekend, despite today’s price consolidation.

Ethereum

Ethereum (ETH) has been on a bull run this week, climbing to a one-month high during Friday’s session.

These gains have since been erased, with ETH/USD falling to a low of $1,657.68 earlier in the day, after hitting a high of $1,681.79 the day before.

The move has pushed the 10-day (red) moving average on the cusp with a crossover with its 25-day (blue) counterpart.

Although momentum is firmly bullish, a ceiling of 61.00 on the RSI could act as a hurdle for traders looking to take ETH towards $1,700.

Currently, the index is tracking at 60.01, with ethereum hovering slightly below the $1,680 price region.

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Is today’s consolidation solely due to profit-taking? Leave your thoughts in the comments below.

via Eliman Dambell

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Paypal Selects Crypto.com as ‘Preferred Exchange’ for PYUSD Stablecoin

Paypal has chosen Crypto.com as the “preferred exchange” for its recently launched stablecoin issued by the blockchain company Paxos. The partnership with the trading platform seeks to prop the U.S. dollar-pegged cryptocurrency which has already listed the coin and provides liquidity for its market.

Crypto.com Joins Payments Giant Paypal and Fintech Firm Paxos to ‘Further Enable Paypal USD’

Crypto.com announced a partnership with Paypal that aims to establish the digital assets exchange as the preferred trading platform for the online payment provider’s new paypal usd (PYUSD) stablecoin. In a press release, the crypto firm highlighted it has already listed the new currency and is currently the exchange with the deepest liquidity for its trading pairs.

Paypal introduced the stablecoin in early August with the stated goal to eventually making it an integral part of its payments infrastructure. PYUSD is issued by the New York-based Paxos Trust Company on the Ethereum blockchain and is reportedly redeemable 1:1 for U.S. dollars, backed by dollar deposits, short-term Treasury securities, and comparable assets.

“PayPal has been a true pioneer in the digital commerce evolution and Paxos is a market-leading issuer of stablecoins. We are tremendously excited to team up with them to collectively advance the crypto frontier,” said Crypto.com’s Senior Vice President and Head of Payment Partnerships Joe Anzures. He elaborated:

Connecting our more than 80 million users to the latest crypto innovations, as well as supporting Paypal’s global network of consumers and merchants, will be pivotal in our continued pursuit of crypto to every wallet.

The partnership expands the integration between the financial giant and the crypto exchange which offers users of its Visa Card the option to top it up with Paypal. Furthermore, PYUSD deposits are already available to Crypto.com retail users via the platform’s app and the exchange promises trading features in the near future.

PYUSD isn’t Paypal’s only initiative in the crypto space. Last year, the payment processor allowed users to send and receive popular cryptocurrencies like bitcoin and ether. Media reports unveiled that the company has filed a patent application for a non-fungible token (NFT) marketplace this year. Earlier this month, Paypal announced it’s introducing on- and off-ramps to facilitate crypto payments for Web3 platforms such as digital wallets and decentralized apps.

Do you expect Paypal to dive even deeper into the crypto space? Tell us in the comments section below.

via Lubomir Tassev

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Bitcoin Traders Eye Bullish Silver Lining in Looming US Government Shutdown, Says Analyst

Numerous reports foretell an imminent U.S. government shutdown, given the anticipated failure of a spending bill to secure passage by Saturday evening — a measure meant to sustain operations till mid-November. On the cusp of this shutdown, bitcoin (BTC) has been on an ascent, catching the eye of many. Coinshares analyst Luke Nolan notes a buoyant sentiment among some traders, who view the government’s looming closure with a favorable lens.

Bitcoin Rides the Wave of Uncertainty as U.S. Braces for Government Shutdown

The U.S. government could shut down this weekend if Democrats and Republican policymakers can’t come to an agreement on spending. Currently, there’s a bill on the table that aims to extend the government’s pay until mid-November, but a number of Republicans and Kevin McCarthy, the current House of Representatives speaker, are not budging on negotiations.

The two chambers find themselves at a deadlock, and should the bipartisan proposal aimed at averting a shutdown fail to gain approval by midnight on Saturday, the government will be compelled to close its doors.

On Friday, Coinshares analyst Luke Nolan told Barron’s that certain market participants harbor the belief that the impending shutdown will serve as a bullish catalyst for bitcoin and the broader crypto economy.

“Some participants view the possible government shutdown as bullish for cryptocurrencies, as it plays directly into the narrative of non-sovereign currencies not being affected by government procedure,” Nolan explained to Barron’s contributor Jack Denton.

Nolan added:

The possible shutdown is a large-scale reflection of the periodic dysfunction of due process, which fits well into the philosophical narrative of cryptocurrencies.

The previous hiatus that the U.S. government navigated spanned 35 days, lasting from December 2018 to January 2019. According to CNN, a “shutdown could have enormous impacts across the country, from air travel to clean drinking water. Many government operations would come to a halt, while services deemed ‘essential’ would continue.”

As the specter of a government shutdown looms closer, both equity markets and crypto assets have enjoyed an uptick in value. Bitcoin notably vaulted above the $27K threshold on September 29. “Despite large-scale equity weakness across most sectors … Bitcoin currently sits at a nine-day high, reclaiming an important push-and-pull level at $27,000,” Nolan conveyed to Denton.

What do you think about the traders who view the shutdown as a good thing for bitcoin? Share your thoughts and opinions about this subject in the comments section below.

via Jamie Redman

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Former Three Arrows Capital Executive Su Zhu Arrested in Singapore

Su Zhu, a founding member of the now-insolvent Three Arrows Capital, was apprehended in Singapore at Changi Airport on Friday, as per the firm’s liquidator, Teneo. Zhu received a four-month prison sentence for failing to cooperate in the bankruptcy proceedings, Teneo revealed.

Crackdown at Changi Airport: 3AC’s Su Zhu Detained, Associate Kyle Davies Fugitive

Teneo, overseeing the liquidation of Three Arrows Capital, reported that co-founder Su Zhu was seized and sentenced to four months’ incarceration. His associate, Kyle Davies, remains at large; however, Teneo confirmed he was given an identical penalty.

Zhu allegedly tried to flee Singapore when he was intercepted at Changi Airport, situated approximately 25 miles east of Singapore’s Downtown Core. The Singapore court decreed that Zhu and Davies had not been collaborating with the liquidation procedure – an issue previously reported by the media months prior to his apprehension.

The defunct Singapore-based cryptocurrency hedge fund once supervised over $10 billion in assets at its height. However, a confluence of perilous trading tactics, Terra’s collapse, and plummeting cryptocurrency values obliterated the firm’s assets. Consequently, 3AC declared bankruptcy and was mandated to liquidate by a British Virgin Islands court on June 27, 2022.

Squawk Box posted on X that Kyle Davies, the co-founder of Three Arrows Capital, was asked if he was in Bali because Indonesia is one of seven countries that will not extradite him to the United States. While that interview was in November 2022, Davies is believed to be still in Bali.

What do you think about the 3AC co-founder’s arrest? Share your thoughts and opinions about this subject in the comments section below.

via Jamie Redman

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Bitcoin’s Hashrate Holds Steady Above 400 EH/s Amid Sky-High Network Difficulty

Amid the soaring network difficulty, Bitcoin’s hashrate remains resilient, firmly holding above the 400 exahash per second (EH/s) frontier. A total of 43 mining pools channel their hashpower at the Bitcoin blockchain, yet, it’s Foundry USA’s pool that ruled the roost this month, seizing a 29.36% share of the total hashrate over the past 30 days.

Bitcoin Miners Unfazed: Hashrate Remains Strong Despite Soaring Difficulty

The forthcoming difficulty adjustment, slated for October 3, 2023, looms, yet the climb to a formidable 57.12 trillion in difficulty hasn’t swayed miners. Metrics spanning seven days signal that the hashrate has averaged at a robust 417 EH/s, especially after cresting to an all-time high (433 EH/s) on September 19 concerning seven-day averages.

On Friday, September 29, a collective of 43 mining pools are channeling their SHA256 hashrate into the network. A mere two days ago, Bitcoin’s hash price index dipped beneath the $60 per petahash daily marker, yet with BTC’s price on a subsequent upswing, the hash price ascended to the current $61.32 per petahash a day.

Within the last 30 days’ span, bitcoin miners have unveiled a sum of 4,414 block rewards, with Foundry USA claiming 1,296 of these blocks. Foundry has reigned supreme with 29.36% over the last 30 days concerning total hashrate recorded.

Antpool emerged as the second leading operation among mining pools regarding hashpower, having discovered 1,043 blocks since the previous month, translating to 23.63% of the 30-day hashrate aggregate. Trailing behind Foundry and Antpool were F2pool, Viabtc, and Binance Pool.

While Foundry and Antpool orchestrated 52.99% of the hashrate over the prior month, the other three top pools added an additional 30.77% to the network’s 30-day total. While the recent difficulty alteration hasn’t deterred the miners, projections denote a rise for the impending October 3 retarget.

What are your thoughts on the hashrate sustaining, even while the network’s difficulty scales to unprecedented peaks? Share your views and opinions about this subject in the comments section below.

via Jamie Redman

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Biggest Movers: XRP Hits 1-Month High, SOL Back Above $20

XRP was one of Friday’s notable crypto gainers, rallying to a one-month high earlier in today’s session. Bullish sentiment returned to end the week, with the global market cap trading nearly 1.5% higher as of writing. Solana also surged, moving back above the $20.00 mark.

XRP

XRP, formerly ripple, was one of today’s biggest movers, climbing by as much as 5% earlier in the day.

Following a low of $0.5036 yesterday, XRP/USD raced to a peak of $0.5455 during Friday’s session.

This resulted in the token hitting its highest point since August 29, which is the last time price hit a ceiling of $0.5490.

Looking at the chart, it appears that the move came as the 14-day relative strength index (RSI) rose beyond a ceiling of its own at 56.00.

As of writing, the index is tracking at 58.67, with the next visible point of support near the 60.00 mark.

In the event the 60.00 ceiling is broken, there is a good chance that XRP will climb beyond $0.5500.

Solana (SOL)

In addition to XRP, solana (SOL) also rallied strongly on Friday, rising above $20.00 in the process.

SOL/USD climbed to a high of $20.32 earlier in today’s session, following Thursday’s low at $19.22.

This surge has seen solana hit a nine-day high, which comes after three straight days of bullish momentum.

Overall, the uptrend comes as the 10-day (red) moving average rose above its 25-day (blue) counterpart.

Bulls are likely now targeting a higher resistance level of $21.00, which would result in a four-week high.

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Could solana hit $21.00 this weekend? Let us know your thoughts in the comments.

via Eliman Dambell

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$UMM’s Launchpad on LBank Witnesses Over 1000% Surge within the First 30 Minutes

PRESS RELEASE. In a trading atmosphere characterized by meticulous strategies and keen observers, the Launchpad of $UMM on LBank has emerged as a focal point of discussion. UMM’s trading trajectory seems to be on a steep upward trend, marking its territory in the competitive crypto landscape.

UMM began its trading journey at $0.1 on September 29th and experienced a meteoric rise to $1 within the first 30 minutes, representing an astonishing 1000% increase from its Launchpad initial price. This Launchpad attracted a whopping 35,229 participants, leading to a cumulative investment exceeding 52,186,338 USDT.

Launchpad Pricing Details:

On September 28th, LBank initiated a subscription quota to facilitate equitable participation for every investor. This Launchpad is topped with a hard cap, and participants who reached the maximum allowed subscription invested an estimated value of $2000 in USDT.

Launchpad Mechanics:

The structural design of the UMM Launchpad on LBank is characterized by precision and thoughtful planning. For a duration of 30 days, LBank assiduously tracked user balances across Spot, Futures, and Earn accounts. The investment quotas were meticulously calculated, considering the 30-day average balances, ensuring fair play and equal opportunities. Furthermore, to qualify, users were mandated to undertake at least one trade on LBank within this timeframe. These stringent and clear rules were set to guarantee that active and substantial asset-holding users were granted premium access to participate.

What’s the Buzz Around UMM?

UMM, abbreviated as MetaExpand, emerges as a pivotal protocol in metaversal development. It’s designed to seamlessly intertwine public chains with metaverse applications, acting as a bedrock to the burgeoning metaverse ecosystem. The protocol aims to streamline the development of user-centric and technologically sophisticated applications, featuring enhancements in storage, communication, privacy, and cross-chain transactions.

UMM allows developers to channel their focus on refining application development, bypassing the complexities of the foundational blockchain technology. Furthermore, UMM introduces its inaugural full-chain game, Jurassic Virus, set in a dystopian 2050 plagued by the Jurassic virus. This innovative gaming realm utilizes the robust capabilities of MetaExpand, introducing a unique game coin, “$Culture”, which can be earned exclusively through staking UMM and can be exchanged back to UMM upon securing victories in-game. The official launch of the Jurassic Virus game happened a few days ago on September 27th, 2023.

Market Impact:

The initial performance of UMM in the Launchpad phase has reverberated strongly within the market, promising substantial returns to risk-embracing investors. According to an internal representative from LBank, the extensive promotion and the ensuing success of this Launchpad are pivotal components of LBank’s comprehensive strategy, aimed at innovating market norms amid prevailing bearish trends. This latest round of Launchpad exemplifies that the success of $PINS was not an isolated incident, further validating that the revitalization of LBank’s Launchpad is a long-term and meticulously planned initiative. We will continue this journey with our LBankers who believe in us, advancing together towards the next bull market.

 

 

 

 

 

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This is a press release. Readers should do their own due diligence before taking any actions related to the promoted company or any of its affiliates or services. Bitcoin.com is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in the press release.

via Media

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Tonk Is Building a Provability-Focused Onchain Nintendo Emulator

Tonk, a programming collective focusing on onchain gaming, has announced a blockchain-based Nintendo Entertainment System (NES) emulator called Dappicom. The app, being coded using Noir, a smart contract-enabled privacy-focused language, will allow players to prove they have achieved in-game milestones without showing how.

Tonk Announces Dappicom, a Provability-Focused NES Emulator

Tonk, a gaming-oriented programming team, has announced it is working on Dappicom, a Nintendo Entertainment System (NES) emulator that will allow users to play and enjoy old gaming classics onchain. Furthermore, Tonk focuses on the probability part of the gaming equation, using mathematical proofs to power this part of its functionality.

Dappicom is being coded using Noir, a language that uses zero-knowledge (ZK) technology for its objective. The emulator is designed to appeal to the retro gaming community, which will be able to prove they completed various challenges and quests without having to screencap the whole ordeal, as it is currently done.

For this, the app leverages an NES state machine that sends information to a server, which uses the info to construct a proof of the gameplay executed by the players, certifying the validity of their claims without giving away the techniques used for their accomplishments. Tonk explained this would be a world first, helping players to prove they completed tasks in a certain amount of time without a doubt.

Tonk stated:

Proving speedruns with hidden strategies has never been done before. Speedruns are often contested … You can’t argue with maths, though.

Such gameplay can be rewarded by companies or third parties with badges or other awards.

Origin and Motivation

Tonk stated that the idea of building an on-chain-powered NES emulator came after the creation of “Snarky Monsters,” a Pokemon-inspired game where non-playable characters have “secret psychology,” meaning that there is no way of knowing the stats of any character beforehand.

A battle server utility coded for this game was used to create a virtual machine for holding gaming secrets. This prototype morphed into what Dappicom is today.

Tonk stresses that Dappicom is being built to widen the audience of blockchain games and move away from crypto-focused gamers who only care about earning tokens, explaining that the app doesn’t “require a token and nor does it fit the play-to-earn model, which has a controversial reputation in gaming.” Dappicom’s target is the retro gaming scene, which is outside of the crypto realm.

Dappicom is still in its pre-alpha stages, and Tonk is establishing a community to shape the project and deliver a live demo.

What do you think about Tonk and Dappicom? Tell us in the comments section below.

via Sergio Goschenko

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Russia’s Yuan Shift: EBRD Economist Warns of Waning US Dollar Dominance

In a recent interview, the European Bank for Reconstruction and Development’s (EBRD) chief economist, Beata Javorcik, highlighted a notable trend: Russia’s growing inclination to transact in the Chinese yuan. This shift, the economist emphasized, could challenge the dominance of the U.S. dollar. “[The] increase in the usage of the Chinese currency is coming at the expense of the U.S. dollar,” Javorcik remarked on Wednesday.

EBRD Report, Chief Economist Beata Javorcik Emphasizes Russia’s Shift to Chinese Yuan

Beata Javorcik, the European Bank for Reconstruction and Development’s (EBRD) lead economist, touched on Russia’s increasing preference for the Chinese yuan in trade dealings. Her observations coincide with a period where the U.S. dollar’s stake in global reserves has slipped below 60%. Concurrently, Russia and numerous BRICS countries are veering away from leveraging the greenback in trade.

“You see that this increase in the usage of the Chinese currency is coming at the expense of the U.S. dollar,” Javorcik told Bloomberg on Wednesday. She further noted that sanctions have “given impetus to countries to think about diversifying invoicing currencies, and long-term this could erode the dominance of the dollar.”

Javorcik recently collaborated on a study highlighting the growing trend of countries adopting the Chinese yuan and forging swap lines and trade pacts with China’s central bank. China’s imports from Russia have recently skyrocketed, hitting a record peak. Speaking to Bloomberg, the economist mentioned that while new swap arrangements with the People’s Bank of China are emerging, many were in place before the conflict between Ukraine and Russia.

“Many of these swap lines, they predate the war,” Javorcik told the publication. “War has given impetus to using the Chinese yuan as a currency,” she added.

Javorcik’s perspective isn’t universally shared. Benn Steil, the economist and director of International Economics at the Council on Foreign Relations, opined in August that the Chinese currency is “not a serious threat to dollar hegemony.” However, in September, Alexander Wise, a strategic analyst at JPMorgan, highlighted potential threats to the U.S. dollar, outlining two specific scenarios in a company report.

Concurrently, Jahangir Aziz, an economist with JPMorgan, observed in the same study that the “importance of the dollar has declined significantly from 2014 to 2022.” In the report jointly penned by Javorcik and EBRD economist Maxim Chupilkin, they explain that while the greenback’s global dominance aids in imposing sanctions on Russia, it’s a double-edged sword.

“The dominance of the U.S. dollar makes international sanctions more effective, as firms engaged in international trade overwhelmingly require payments to be cleared through the U.S. banking system,” the authors wrote. “At the same time, the use of economic sanctions may over time reduce [the] attractiveness of the U.S. dollar as a vehicle currency and hence its dominance.”

What do you think about the EBRD economists’ opinions about the U.S. dollar becoming less attractive in trade? Share your thoughts and opinions about this subject in the comments section below.

via Jamie Redman

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Coinbase Launches Perpetual Futures Trading for Retail Crypto Traders Outside the US

Coinbase has received a regulatory stamp of approval to start offering perpetual futures trading to retail crypto traders outside the U.S., opening up access to the $5.5 trillion global derivatives market.

Coinbase Extends Perpetual Futures Trading to Retail Traders Abroad

The Bermuda Monetary Authority (BMA) granted Coinbase International Exchange, the company’s new non-U.S. exchange, a license last week to extend its futures trading services to retail investors across the world, except residents in the U.S. With the approval, Coinbase is poised to expand its derivatives services to more customers globally through its Coinbase Advanced platform in the coming weeks.

“As the most trusted and safest name in crypto, Coinbase will operate with maximum transparency, employ a robust risk framework, and meet the high-bar regulatory and compliance standards of the BMA,” the Coinbase announcement said.

The company sees regulatory approval as an opportunity to further its mission of updating the global financial system by providing users around the world with more access to regulated derivatives. The announcement discloses that Coinbase will follow rigorous risk management and compliance standards set by Bermuda regulators.

The move comes as other exchanges face increased regulatory scrutiny in the United States by regulators like the U.S. Securities and Exchange Commission. Coinbase said its futures contracts have already seen over $5.5 billion in notional trading volume since launching earlier this year.

The San Francisco-based company said its futures trading services will only be available to eligible retail investors outside the U.S. after passing the company’s assessment checks. Coinbase said its futures accounts will be backed by usd coin (USDC) reserves and managed by an experienced risk team.

What do you think about Coinbase rolling out perpetual futures after getting BMA approval? Share your thoughts and opinions about this subject in the comments section below.

via Jamie Redman

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MetaExpand Launchpad on LBank Ends with 52,186,338 USDT in Investment, Attracts Substantial Interest; UMM to be Listed on LBank

PRESS RELEASE. LBank recently concluded its Launchpad for MetaExpand, securing a total investment of 52,186,338 USDT from 35,229 participants. $UMM will be listed on LBank and open for trading on September 29th at 6 AM(UTC).

This event was highly anticipated, following the immense success of the previous $PINS Launchpad, which garnered a substantial total investment of 51,556,343 USDT and experienced a 2003% increase in value. $PINS’s success yielded significant returns for its 34,587 participants.

This year, LBank has emerged as a pivotal player in the cryptocurrency market, earning a prominent position in spot trading volume and establishing a noteworthy presence in various cryptocurrency sectors, including the MEME coin sector, according to the latest market data. LBank persists in offering its over 9 million global users specialized financial derivatives, expert asset management services, and a secure trading environment, fostering global adoption of cryptocurrencies.

The participation rules for $UMM, like $PINS, were meticulously crafted, focusing on a user’s daily average holdings of mainstream coins like BTC, ETH, USDT, and LBK. User balances across Spot, Futures, and Earn accounts were closely monitored over a specified period, and investment quotas were established based on this average. Additionally, to be eligible, users were required to complete at least one trade on LBank within the designated timeframe. These well-thought-out rules have been instrumental in elevating platform activity, including spot holdings, contract positions, earn account balances, and transaction volumes.

A spokesperson for LBank remarked, “We’ve experienced overwhelming engagement and support from our user community, especially following the success of our $PINS Launchpad, which brought substantial returns for the participants. The rules for the $UMM Launchpad were strategically designed to prioritize our active and asset-holding users, building on the lessons learned and successes experienced during the $PINS Launchpad. We are sincerely grateful for such vibrant participation and are excitedly anticipating the upcoming $UMM listing along with other exhilarating developments.”

The listing details for $UMM are as follows:

– Token Distribution Time: 28th Sep, 1 PM(UTC)

– Trading Time: 29th Sep, 6 AM(UTC)

– Withdrawal Time: 2nd Oct, 6 AM(UTC)

Please refer to the official link for details:

https://support.lbank.com/hc/en-gb/articles/23472949149209

MetaExpand（$UMM) is a universal metaverse expansion protocol, designed to bridge the technical gap between public chains and metaverse applications. It serves as a foundational infrastructure of the metaverse ecosystem, enabling the development of applications that are significantly user-friendly, and technologically advanced, accommodating features such as storage, communication, privacy, cross-chain capabilities, and transactions. MetaExpand’s aim is to allow developers to focus more on application development rather than the intricate details of underlying blockchain technology

 

 

 

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This is a press release. Readers should do their own due diligence before taking any actions related to the promoted company or any of its affiliates or services. Bitcoin.com is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in the press release.

via Media

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Biggest Movers: SHIB, DOGE Snap Recent Losing Streaks

Shiba inu snapped a recent four-day losing streak on Thursday, as bulls rejected a breakout below a key level of support. The slight rebound in price came as the global crypto market cap was marginally higher, climbing 0.25% as of writing. Dogecoin was also in the green.

Shiba Inu (SHIB)

Shiba inu (SHIB) ended a four-day losing streak on Thursday, as crypto bulls returned following a slight stalemate earlier in the day.

Following a low of $0.000007164 on Thursday, SHIB/USD rose to an intraday high of $0.000007287 during today’s session.

This came as traders continued to move price away from a recent support point around the $0.00000710 level.

From the chart, it also appears that momentum is somewhat bullish, with the 10-day (red) moving average nearing a cross with its 25-day (blue) counterpart.

In order for this to happen, the relative strength index (RSI) will first need to rise beyond a ceiling at the 44.00 mark.

At the time of writing, the index is tracking at 42.14, with SHIB trading at $0.000007256.

Dogecoin (DOGE)

Dogecoin (DOGE) also ended a winless run on Thursday, as the meme coin rallied following two days of declines.

DOGE/USD peaked at $0.06117 earlier in the day, which comes after a low of $0.06027 the day prior.

Similar to shiba inu, the moves comes as DOGE bounced away from a recent price floor at the $0.0600 level.

Looking at the chart, it seems as though the next target will be around the $0.0625 zone, which was last hit exactly a week ago.

In order to reach this point, price strength will need to climb from a current reading at 42.52, and head closer to a ceiling of 44.00.

Register your email here to get weekly price analysis updates sent to your inbox:

Do you expect that dogecoin will hit this level in the coming days? Let us know your thoughts in the comments.

via Eliman Dambell

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China Allows Visitors to Top Up Digital Yuan Wallets with Visa, Mastercard, Cash

Trying to make the digital yuan more attractive for foreigners, China has added a “recharge before use” feature to its digital currency system. The upgrade will allow visitors from abroad to replenish a digital yuan wallet through the global payment networks Visa and Mastercard among other methods.

China Allows Foreign Users of Its Digital Yuan to Preload Their E-CNY Wallets

The operators of China’s central bank digital currency (CBDC) platform have upgraded its payment services to make the process of spending the digital yuan (e-CNY) more user-friendly to foreign nationals visiting the country, the state-run China.org.cn portal informed readers.

The newly introduced “recharge before use” feature on the digital yuan app allows visitors to replenish the built-in e-CNY wallet using the online services of the leading global payment networks Visa and Mastercard.

Foreigners can also load the Chinese digital currency wallet by depositing cash in a bank office. At the end of their stay, they will be able to return any remaining balance to their overseas bank card or account used in the beginning.

The report notes that as mobile payments have become more dominant in China than other regions, the new option will offer foreigners a better experience during their visit. Previously, they could not top up their e-CNY wallets in advance, the article recalled.

The change will provide foreign users with equal access to more convenient payment methods such as the “quick pay” option. It will also let them spend their e-CNY both at physical stores accepting the digital currency as well as online platforms such as ride-hailing app Didi, takeaway service provider Meituan, travel portal Ctrip, and e-commerce retailer JD.

According to Dong Ximiao, chief researcher at Merchants Union Consumer Finance, the upgrade will create a more convenient payment environment for people visiting China. Zhou Maohua, an analyst at China Everbright Bank, believes it will also increase the presence of the digital yuan in cross-border transactions. Both are convinced that the move will promote the Chinese CBDC internationally.

China has been developing the digital version of the yuan since 2014 and has launched a number of trials in the past couple of years. At the end May, its central bank announced that e-CNY transactions in trial regions had reached 264 million, totaling 83 billion yuan ($11.4 billion) in value. By the end of June, they were already at 1.8 trillion yuan ($250 billion) with 16.5 billion digital yuan in circulation.

Do you think the latest update of the digital yuan payment system will convince more visitors to use the CBDC? Tell us in the comments section below.

via Lubomir Tassev

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S21 Miner Makes its Debut at WDMS for the First Time, with BitFuFu Among the First Public Online Sales Platforms

PRESS RELEASE. September 28, 2023 – The 2023 Global Digital Mining Summit (WDMS) concluded successfully in Singapore, exploring the future trends and investment opportunities in the Web 3.0 mining ecosystem. During the event, Bitmain unveiled its latest high-hashrate miner, the S21, and commenced accepting pre-orders.

As Bitmain’s exclusive cloud mining partner, BitFuFu platform has opened the S21 miner pre-purchase. The S21 miner boasts an impressive energy efficiency rating of only 17.5 J/T, significantly enhancing mining efficiency. Furthermore, the S21 miner offers a hashrate of up to 200 T/TH, marking a new performance peak and solidifying its position as one of the world’s most powerful BTC miners.

BitFuFu is introducing an attractive product package, combining mining machine purchases with hosting services:

The platform supports purchases starting from just one miner, offering an integrated service of machine procurement and hosting by BitFuFu, which includes transportation, customs clearance, and installation with no waiting times, all managed by dedicated personnel for swift mining.

Access high-quality mining farm resources in North America with a single click, backed by a professional operations and maintenance team ensuring machine uptime.

Purchasing 100 or more S21 miners at once qualifies for the lowest price of 14.8 U/T.

Buyers of S21 miners will enjoy up to 240 days of free mining power fees.

This campaign is conducted in collaboration with Antpool, securing maximum transaction fee discounts for miner users.

Now, with only a small deposit, you can pre-order the S21 miner. BitFuFu will contact you before shipment to arrange payment of the remaining miner cost. Depending on your purchase method, miners will be shipped in the first or second quarter of 2024. Pre-order users will have their S21 miners shipped to their specified location, while pre-order users opting for hosting services will have their S21 miners shipped to BitFuFu‘s mining facility partner for installation and operation.

For more information and details on pre-ordering the S21 miner, please visit the official BitFuFu website or contact our dedicated advisors.

BitFuFu Official Website: www.bitfufu.com

 

 

 

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This is a press release. Readers should do their own due diligence before taking any actions related to the promoted company or any of its affiliates or services. Bitcoin.com is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in the press release.

via Media

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Monetary Transfers Readily Displace Inscriptions on Bitcoin, Glassnode Reveals

Ordinal inscriptions have quickly consumed Bitcoin’s available block space since their debut last year, a study by blockchain analytics firm Glassnode found. These text and image files act as “packing filler,” filling any remaining space in blocks after higher-value transactions are added, the study showed.

Bitcoin’s Block Space: Monetary Transfers Overpower Inscriptions

Though there’s been a surge in Ordinal inscriptions in 2023, a Glassnode study found that financial transactions remain the priority on Bitcoin’s blockchain. Glassnode researchers emphasized that “there’s little evidence inscriptions are pushing out monetary transfers.”

“Inscriptions appear to be buying and consuming the cheapest available blockspace, and are readily displaced by more urgent monetary transfers,” the report states. Despite the increase, inscriptions account for about 20% or less of transaction fees paid to miners.

The technology lets users add content to the Bitcoin blockchain using the Segwit data structure and Taproot. An initial wave of image NFTs shifted to mainly text files as the BRC-20 token standard appeared, Glassnode researchers said.

Daily transaction counts have exceeded 550,000 several times this year as inscriptions add more transfers to the limited block size. The average block now contains up to 3,500 transactions, up from 2,500 in past years, the report showed.

Of all confirmed transactions, inscriptions comprise 40% to 60% since May. The resulting UTXO set grew by more than 46 million entries (up 34%) in 2023, the quickest growth ever recorded. While miner revenue has increased, income per hash rate is near historic lows.

“With extreme miner competition in play, and the halving event looming, it is likely that miners are on the edge of income stress,” Glassnode said.

Overall network fees have doubled to about 38 BTC daily but represent only 4% of miner rewards. At the same time, Bitcoin’s mining difficulty has risen by 50% as more specialized and advanced mining equipment is used.

With the next halving predicted in just 206 days, Glassnode believes most miners will experience significant income challenges unless BTC prices increase significantly. Glassnode noted that while inscriptions might be taking up space, they haven’t boosted miners’ earnings.

What do you think about Glassnode’s report on inscriptions and monetary transfers? Share your thoughts and opinions about this subject in the comments section below.

via Jamie Redman

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Bored Ape Yacht Club Announces Collaboration With Iconic Japanese Streetwear Brand Bape

According to Yuga Labs, creators of the Bored Ape Yacht Club (BAYC), the team has partnered with the popular Japanese fashion brand A Bathing Ape, commonly known as Bape. They plan to unveil a new “irreverent collection” together at Apefest in Hong Kong this November.

BAYC Partners With Fashion Brand Bape

The Bored Ape Yacht Club is teaming up with streetwear company Bape for a new collection, Yuga Labs announced. Founded in 1993 by Nigo (Tomoaki Nagao) in Ura-Harajuku, Bape is a renowned Japanese fashion brand. The company operates 19 stores globally, offering men’s, women’s and children’s lifestyle and streetwear.

“Together, the two brands have reimagined iconic designs from Bape’s deep archives and usher in a return to the golden age of streetwear collecting,” Yuga Labs said on September 25. “With one foot in Bape’s Ura-Harajuku roots and the other in the BAYC swamp, this collection offers Bape heads and BAYC members exclusive access to apparel and accessories that reflect their shared appreciation for laid back opulence and irreverence.”

The recent news about BAYC and Bape comes after a notable decrease in the value of BAYC non-fungible token (NFT) assets this year. BAYC NFT floor prices have plummeted, and weekly sales volumes have consistently decreased. This isn’t BAYC’s first partnership with a prominent streetwear brand; they teamed up with Adidas in 2021 and also worked with music-focused magazine Rolling Stone on an exclusive cover design.

“As Fashion goes hand-in-hand with Web3, particularly in the current times, where the two have the power to impact each other almost instantaneously, we are thrilled to present this groundbreaking collaboration with Yuga Labs,” Thomas Hui, chief operating officer at Bape said.

What do you think about BAYC teaming up with Bape? Share your thoughts and opinions about this subject in the comments section below.

via Jamie Redman

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SEC Postpones Verdict on Ark 21shares and Global X Spot Bitcoin ETFs

The U.S. securities regulator recently announced a delay in its verdict on the Ark 21shares Bitcoin ETF. Consequently, the U.S. Securities and Exchange Commission (SEC) has marked January 10, 2024, as the decisive day to either greenlight or reject the proposed amendment.

SEC Pushes Back Decision on 2 Spot Bitcoin ETFs

A statement from the U.S. securities authority highlighted its decision to push back its judgment on the Ark 21shares Bitcoin ETF, an asset-backed fund aiming for public listing. The filing for this ETF was jointly presented by Cboe BZX Exchange, 21shares, and Ark Invest on April 25, 2023.

This ETF joined the ranks of several spot bitcoin ETF applications, with industry giants like Invesco, Blackrock, Fidelity, Vaneck, Valkyrie, Wisdomtree, and Franklin Templeton all in the queue. Notably, the SEC had previously postponed its decision on seven of these filings, including the Ark 21shares Bitcoin ETF, on August 31, 2023.

Upon a detailed examination of the proposal and subsequent modifications, the SEC said on Tuesday that it chose to prolong the evaluation phase to guarantee a comprehensive review. “The Commission finds that it is appropriate to designate a longer period within which to issue an order approving or disapproving the proposed rule change so that it has sufficient time to consider the proposed rule change, as modified by Amendment No. 3, and the issues raised therein,” the SEC detailed.

“I’m shocked they went this early on Ark and 21Shares. My assumption is they’re worried about the government shutdown and trying to get ahead of that,” Bloomberg Intelligence ETF analyst James Seyffart said on Tuesday. In addition to the Ark 21shares filing, the securities watchdog also deferred its decision on the spot bitcoin ETF filing submitted by Global X and its listing partner Cboe BZX.

What do you think about the SEC’s recent delay on two spot bitcoin ETF registrations? Share your thoughts and opinions about this subject in the comments section below.

via Jamie Redman

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