Day: June 21, 2023

Puma, Gutter Cat Gang and LaMelo Ball Partner to Release Physically-Linked NFT Sneakers

CryptoX – Cryptocurrency Analysis and News Portal According to its website, the sneaker collection welcomes a “new era for hoops apparel and fashion,” and was designed by Ball as a part of MB, his fashion collaboration with Puma. Each buyer that purchases the NFT sneakers will also receive a physical counterpart they can flex in real life. Source The post Puma, Gutter Cat Gang and LaMelo Ball Partner to Release Physically-Linked NFT Sneakers appeared first on CryptoX. CryptoX Portal

Valkyrie joins rush with BTC spot ETF application to go with its futures, miners ETFs

boss

Cryptocurrency fund manager Valkyrie is applying for a Bitcoin spot exchange-traded fund (ETF), joining several other financial firms that have filed similar applications with the United States Securities and Exchange Commission (SEC) in the last week. Valkyrie filed an S-1 registration form for a Bitcoin spot ETF with the SEC on June 21. In it, the firm indicated that it would seek to list its fund on the Nasdaq under the symbol BRRR.  Valkyrie is an old hand at Bitcoin (BTC) futures ETFs. It launched the second BTC futures ETF in the U.S.,…

Reviewing the Tether Documents

Whether the Tether stablecoin (USDT) has been fully backed with reserves has been a question for years. In 2019, skeptics were vindicated after the New York Attorney General’s office announced there was a roughly $850 million hole caused by Tether loaning funds from its reserve to Bitfinex, its sister company. Still, Tether claimed it had patched the hole and was fully backed again in the years following that announcement. Source

Why Did Financial Players BlackRock, WisdomTree and Invesco File Spot Bitcoin ETF Applications?

boss

I, for one, don’t think that BlackRock would apply for this spot bitcoin ETF if it didn’t think that it, arguably the most powerful company on Wall Street, could get it approved. If I had my tinfoil hat on, then maybe there is a secret plot to make bitcoin look completely unappetizing to the world since even BlackRock couldn’t get a spot ETF through. I don’t think this is the case. Original

Binance, Binance.US and CZ allege SEC made ‘misleading’ statements on exchange assets

boss

Lawyers representing United States-based crypto exchange Binance.US, global exchange Binance Holdings Limited and Binance CEO Changpeng “CZ” Zhao have filed a motion alleging the U.S. Securities and Exchange Commission (SEC) misled the public in statements issued over an ongoing securities lawsuit. In a June 21 filing in the U.S. District Court for the District of Columbia, the legal teams for Binance, Binance.US and CZ claimed the SEC had made “misleading” statements in a June 17 press release and filed a motion for the financial regulator to comply with “applicable rules…

Raft’s R Stablecoin Surges as Traders Embrace Liquid Staking Ether Products

The surge in Raft, an alternative stablecoin issuer, highlights the booming market for liquid staking tokens, which enable users to main liquidity, despite locking their ether to earn rewards for securing the Ethereum blockchain. The liquid staking sector has a combined TVL of more than $20 billion, putting it ahead of decentralized exchanges, lending platforms and bridging protocols as DeFi’s top dog. Source

Bitcoin think tank rejects science behind ‘limited adoption problem’ paper

boss

A team of researchers from the Bitcoin Policy Institute, a nonprofit think tank, have roundly rejected the conclusions reached in a 2022 paper claiming that Bitcoin has an intrinsic scaling problem that will lead to limited adoption in the future. According to the Bitcoin Policy Institute’s researchers, the original paper, dubbed “Bitcoin’s Limited Adoption Problem,” is predicated on three faulty assumptions. First, the authors of the original paper claim that payments on the Bitcoin (BTC) network require full network consensus for settlement. Second, they assert that the addition of miners to…

Invesco submits new spot bitcoin ETF application

boss

Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied Invesco, an investment management organization overseeing assets worth $1.49 trillion, recently filed a new application for a spot bitcoin exchange-traded fund (ETF). The move follows Invesco’s initial joint application with Galaxy Digital in 2021.  The latest filing highlights Invesco’s strong belief in the pressing necessity for a spot bitcoin ETF, emphasizing that the absence of such a product exposes investors to riskier alternatives. The company cited instances of platform companies facing bankruptcy, including FTX, Celsius Network,…

Zora Launches Layer 2 Blockchain to Support Creator Communities

The Zora Network is secured by Ethereum and built on Optimism’s tech stack. According to a press release, the new network will make minting on its platform “faster, cheaper and more enjoyable” with a focus on gas efficiency and scalability. According to documents online, minting an NFT through the network “costs less than 50 cents.” Source

Price analysis 6/21: BTC, ETH, BNB, XRP, ADA, DOGE, SOL, MATIC, LTC, DOT

boss

Bitcoin price surged to $31,000 as a handful of BTC spot ETF applications and Fed chair Jerome Powell’s views on stablecoins appear to have improved crypto investors’ view of the market. BlackRock’s application for a spot Bitcoin (BTC) exchange-traded fund (ETF) has encouraged other financial firms to follow suit. First, it was the New York-based asset management fund WisdomTree which made a new filing on June 21 for a Bitcoin ETF. This was then followed by investment manager Invesco, which reactivated its application for a spot ETF. These announcements boosted…