Day: October 21, 2021

Good, but not quite there

The odds of the United States Securities and Exchange Commission (SEC) approving a Bitcoin (BTC) exchange-traded fund (ETF) before a physical Bitcoin ETF are higher than ever, courtesy of Chairman Gary Gensler’s now oft-repeated preference for the former. But here’s the issue: an ETF built around crypto futures isn’t the most efficient, economical or easiest route. Physically backed products are. They’re likely to attract more assets and open the crypto market to more investors. And they are much easier for investors to understand. This is why fund issuers are better…

AGM Receives Second Batch of Orders for ASIC Miners

AGM Group, a fintech software-service and hardware provider, said it received an order for 25,000 of its 100 terahash-per-second ASIC miners from MinerVa Semiconductor. The Beijing-based company will get $20 million in deposit, with the rest paid before delivery starts, according to a statement. The company didn’t disclose the total amount for the deal. “The purchase enables us to increase our cash flow, which gives us a sound financial footing as we begin our plans for mass production in 2022,” said recently appointed Steven Sim, the company’s chief financial officer.…

Valkyrie Bitcoin futures ETF to launch on Nasdaq on Oct. 22

Valkyrie’s Bitcoin (BTC) futures-based exchange-traded fund (ETF) is poised to follow the launch of ProShares’ Bitcoin Strategy ETF on Friday. Valkyrie Bitcoin Strategy ETF is finally effective and is set to start trading on Nasdaq under the ticker BTF on Friday, Valkyrie confirmed to Cointelegraph on Thursday. The launch comes after the United States Securities and Exchange Commission granted a notice of effectiveness to Valkyrie Bitcoin Strategy ETF on Thursday. According to Leah Wald, CEO of Valkyrie Funds, the upcoming launch of Valkyrie’s Bitcoin futures ETF marks an important milestone in the…

Houston Firefighters Pension Fund Makes Bitcoin, Ether Purchase

A pension fund for firefighters in Houston has made a purchase in bitcoin and ether facilitated by bitcoin investment firm NYDIG. The Houston Firefighters’ Relief and Retirement Fund’s (HFRRF) purchase marks the first time a public pension plan in the U.S. has announced an investment in digital assets, according to an announcement Thursday. The fund has invested $25 million in bitcoin and ether, though it has not disclosed how this is split between the two. The investment was made via bitcoin investment firm NYDIG, which is providing the custody for…

Crypto remittances see adoption, but volatility may be a deal breaker

Cryptocurrency adoption has been growing for a number of reasons. In emerging markets, research suggests crypto remittances are a factor, although some argue that the idea of using cryptocurrencies for these transactions is nothing more than a purist’s dream. The CEO of cryptocurrency derivatives trading platform BitMEX, Alexander Höptner, predicted earlier this month that by the end of next year, at least five countries will have accepted Bitcoin (BTC) as a legal tender, as crypto assets can be faster and cheaper for remittances. He believes that all five will be…

Solana-Based DeFi Protocol Synchrony Raises $4.2M for Composable Indices

Synchrony, an on-chain asset management protocol built on the Solana blockchain, has raised $4.2 million in strategic funding to further the development of its decentralized finance (DeFi) configurable indices. The funding, led by by Sanctor Capital, Wintermute Trading and GBV Capital, will also go toward its marketing operations as it attempts to position itself as a frontrunner for DeFi asset management interacting with Solana’s ecosystem. “Synchrony is hyper-focused on fostering an inclusive community where people can learn, build and collaborate together,” Synchrony Labs co-founder Andrew Fraser said in a statement…

Associated Press Taps Chainlink for Elections, Sports Data

“We will be bringing on-chain things like the GDP [gross domestic product] number, the unemployment rate, the CPI [consumer price index] number and other bits of trusted data from AP that we will publish to our node so developers will be able to access that,” Desaulniers said. “Sports is another area; not just scores, but also fast-breaking player reports, transactions, injuries.” Source

SBF, The Weeknd Join Board of Tom Brady’s NFT Platform

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Crypto Market Set To Drop Lower? Where To Buy The Secondary Dip | Crypto News

▶ Coinbase Website: Coinbase.com ▶ CEX Website: cex.io We have seen the crypto market drop lower almost 50% because of negative news on bitcoin and the media mad house surrounding crypto right now. But was this the bottom? Or will we see a secondary low before a solid place to buy the dip? Using technical analysis and market analytics I have come up with potential zones we could see the crypto market dip to in the event we see a second move down. I will explain my reason for believing…

DraftKings Founders Back ‘Play-to-Earn’ Soccer Game With $3M Raise

A non-fungible token (NFT) game called MonkeyBall has raised $3 million as the latest experiment in the surging “play-to-earn” sector, where gamers reap crypto rewards for their time. The soccer game is being developed with the Unity game engine on the Solana blockchain in a bid to be a high production value, AAA-grade title, the company said Thursday. In the game, users manage a team of four monkeys that play head-to-head matches against other users. Team’s earn tokens for victories and can collect additional rewards for buying stadiums and attending…