Since at least 2013, when the Winklevoss twins first filed an application to create one, a bitcoin exchange-traded fund (ETF) has been the crypto industry’s white whale. An ETF would open bitcoin investment to a huge new array of players, from individual 401(k) users to major institutions, who can’t buy bitcoin directly for regulatory or compliance reasons. Yesterday, we finally got a bitcoin ETF … sort of. Original
Chinese online retail giant JD.com is diving into the nonfungible tokens, or NFTs, industry by introducing a special NFT series for its annual JD Discovery conference. Using its proprietary blockchain platform, JD.com will be distributing commemorative NFT certificates to attendees of the JDD 2021 event in Beijing, the Chinese new agency Sina Finance reported Oct. 20. JD.com will specifically issue one NFT for free to anyone who signs up for the JDD 2021 conference between Oct. 18 and Nov. 22 through WeChat mini program on the event’s official website. According…
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Stronghold Digital, the bitcoin mining company that converts coal waste into power for its operations, surged in its first day of trading on Wednesday after raising $127 million in its IPO. The Pennsylvania-based miner’s IPO was upsized to $19 per share, after previously pricing its IPO at the range of $16 to $18 each. The shares opened up 42% at $27 on Nasdaq under the ticker “SDIG.” They were recently trading up 65% to $31.37. Stronghold converts “coal refuse,” a material left over from coal mining, into power used to…
On Wednesday, just before bitcoin surpassed the digital asset’s all-time high (ATH), the crypto analyst known as “Techdev” says the “2-week chart looks strong and ready for much higher highs.” Just 26 days ago, Techdev said that “$200-300K bitcoin looks almost too programmed” and this week, the analyst noted that we are “nowhere near a top.” Bullish Forecasters Rejoice Over Correct Predictions — ‘$200-300K Bitcoin Looks Almost Too Programmed’ The leading digital currency bitcoin (BTC) has been on a tear during the last few weeks as it has continuously gained…
Blockchain-based trade finance platforms are already changing the world. In this article we will explore their key benefits and will explain why you should start testing this new model now. The traditional model is already outdated. There are always many participants involved (sellers, buyers, banks, insurance and logistics companies, etz.) and everyone has to interact with each other. In addition lots of emails, documents and communication implied. Error correction and waiting takes a huge amount of time, many processes are difficult to manage fast and to synchronize with each other.…
Nevertheless, using such a “bridge entity” is inefficient, cumbersome and sacrifices many of the key benefits that make DAOs special. Instead, DAOs should, like other types of business associations, be free to enter into a contract directly, either through delegated authority or by passing a formal proposal. To the extent applicable state law would not permit a DAO to enter a traditional commercial arrangement without sacrificing its members’ personal liability, the law should be updated. Source
According to an announcement issued on Wednesday, DCG is now authorized to buy up to $1 billion worth of Grayscale Bitcoin Trust (GBTC). This development extends DCG’s prior authorization by $250 million if they choose to do so. Indeed, DCG has so far purchased $338 million in GBTC, according to the company’s announcement on Wednesday. As previously reported by Cointelegraph, DCG had purchased $193.5 million worth of GBTC shares back in May 2021. At the time, the firm’s GBTC purchase limit stood at $250 million. As part of the announcement,…
Some cryptocurrency companies have taken a proactive approach to finding existing regulations they believe more adequately cover what their stablecoin would do. Avanti – a special purpose depository institution, which is a bank with only a state charter, a classification that was created under new legislation in Wyoming – seems to believe that the Uniform Commercial Code, which (in part) dictates standards for banknotes, would allow for the issuance of a “digital banknote.” If its token is considered a banknote, then it will be exempted from regulation as a security.…
Although SHIB initially suffered a dramatic price plunge, the coin has thrived ever since. According to CoinGecko, SHIB ranks as the 13th-largest cryptocurrency by market capitalization. That’s more value than UNI, the token of Uniswap, one of the most popular decentralized finance (DeFi) protocols on the Ethereum blockchain. Source