Investors never showed much demand for Valkyrie’s third ETF, where the largest positions are Tesla (TSLA) and MicroStrategy (MSTR), companies known for holding bitcoin on their balance sheets. Net assets under management are currently only about $570,000, a miniscule number for ETFs. Original
“We learned a lot from our first foray into Web3, and we are excited to carry Vault’s concepts around community storytelling into future projects,” said Vault. “While we will no longer be developing or maintaining this community, the Vault NFT collections will live on.” Source
The city notice effectively stops the facility from conducting “any cryptocurrency mining or related operations” until Blockfusion is in compliance with local zoning ordinances. The City of Niagara Falls has issued a cease-and-desist notice to New York-headquartered crypto mining firm Bit Digital over a data facility owned and operated by its partner Blockfusion. In an Oct. 7 announcement, Bit Digital said the city notice would effectively stop the facility from conducting “any cryptocurrency mining or related operations” until Blockfusion was in compliance with local zoning ordinances. The Niagara Falls ordinance…
Crypto exchange Bittrex is settling with the U.S. Treasury and the Financial Crimes Enforcement Network (FinCEN) to the tune of $53 million. According to a press release, the Treasury’s Office of Foreign Assets Control (OFAC) and FinCEN have charged Bittrex with violating sanctions and anti-money laundering (AML) obligations. Bittrex faces fines of $24 million from OFAC, and $29 million from FinCEN, in what is the first joint enforcement action between the two regulatory agencies. Investigations into Bittrex found violations of multiple sanctions programs, and “willful” violations of the Bank Secrecy…
The Soroban Adoption Fund incentivizes developers to begin building products and tools on the new smart contract platform. Stellar Development Foundation (SDF), the nonprofit organization supporting the development of the Stellar network, has launched a new funding initiative to encourage developers to build on the Soroban smart contract platform, which officially went live on Futurenet on Oct. 11. Soroban brings Turing-complete smart contracts to the Stellar blockchain, enabling developers to build new financial services rails on the network, SDF said. Tomer Weller, SDF’s vice president of technology strategy, said Soroban…
The largest cryptocurrency by market capitalization continues in a tight range, a little over $19,000. Market Wrap is CoinDesk’s daily newsletter diving into what happened in today’s crypto markets. Source
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ETH prices continue to trend downwards as prices remain bearish, with price trading on critical support. ETH trades below 50 and 200-day Exponential Moving Average as price struggles to regain bullish signs as many traders and investors wish for $500. The price of ETH needs to break and hold above the key resistance of $1,400 to initiate recovery signs for the price. The price of Ethereum (ETH) continues to struggle to discover its bullish trend before the “Ethereum Merge” as the price fails to break the key resistance of $1,400…
Authorities in Portugal intend to impose a levy on gains from short-term crypto investments with the state budget for next year. The document, which still needs the approval of Portuguese lawmakers, signals a change in the EU nation’s positive attitude towards crypto assets. Government of Portugal Proposes New Tax for Cryptocurrency-Related Gains In the past few years, Portugal has established itself as one of Europe’s most crypto-friendly countries, with a decision to refrain from taxing gains derived from crypto trading, unless they’re part of a business activity, playing a key…
The upgrade is intended to fix the exploit that drained the platform of $100 million. A hard fork to the BNB Smart Chain, the blockchain of crypto exchange Binance, will take place as a fix for the exploit that drained the platform of an estimated $100 million on Oct. 6, according to a post on GitHub. The release for mainnet and testnet is a “temporary urgent patch to mitigate the cross-chain infrastructure between Beacon Chain and Smart Chain”, said the post, aiming to re-enable the cross-chain back. The BNB hard fork,…