Month: June 2023

Grayscale Bitcoin Trust nears 2023 highs on BlackRock ETF filing as buyers step up

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Bitcoin (BTC) plans by BlackRock appear to have sparked a rally in the “OG” institutional BTC investment vehicle. Data from monitoring resource CoinGlass shows that on June 17, the Grayscale Bitcoin Trust (GBTC) almost hit new 2023 highs. GBTC “premium” heads below -37% Bitcoin market sentiment showed a modest improvement late last week as news emerged that the world’s largest asset manager, BlackRock, had filed to launch a Bitcoin spot price exchange-traded fund (ETF). While still not allowed in the United States, a spot ETF from a stalwart entity such…

How to write effective ChatGPT prompts for better results

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Writing good ChatGPT prompts to receive precise and pertinent responses is crucial. For the artificial intelligence (AI) model to produce the required information, clear and accurate context is essential, which allows ChatGPT to better comprehend the aim and scope of a user’s inquiry. What is prompting in ChatGPT In OpenAI’s ChatGPT chatbot, prompting is the process of giving the language model input or instructions to get the desired response. It includes creating prompts or questions that direct how the AI model interprets the task or subject. Prompts can be questions,…

UK Investment Trust RIT Capital Marks Down Valuations of Cryptocurrency Ventures

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RIT Capital Partners Plc, a prominent UK investment trust, has recently made significant markdowns on its investments in various cryptocurrency startups. The trust, founded by Jacob Rothschild, had previously allocated substantial amounts of capital to crypto firms, along with supporting numerous technology startups. However, in its 2022 annual report, RIT revealed a reduction in its positions in Animoca Brands, Kraken, and Paxos. While the exact cause for the markdown is unclear, it is unlikely that RIT sold off any of its stakes, as the three startups in question are privately…

Binance CEO CZ deems SEC’s request for emergency relief unwarranted

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Changpeng ‘CZ’ Zhao, the CEO of Binance, expressed his happiness and sense of relief as the prolonged dispute with the United States Securities and Exchange Commission (SEC) has been successfully resolved. The SEC’s ongoing scrutiny had created a tense and uncertain period for the company, making the resolution a significant milestone. Nonetheless, as the regulatory uncertainty begins to fade, CZ can now find solace and concentrate on Binance’s future. In a tweet, the veteran crypto entrepreneur emphasized that the SEC’s emergency relief request was unnecessary, affirming that the mutually agreed-upon…

CZ, Powell and more rally to fund legal fees for on-chain sleuth ZachXBT, surpassing $1M

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Blockchain investigator ZachXBT has received over $1 million in donations in slightly more 24 hours from the crypto community to pay for his legal fees in a defamation lawsuit. ZachXBT, known for his investigative work in the blockchain and cryptocurrency industry, has become embroiled in a legal dispute with Jeffrey Huang, better known as MachiBigBrother on Twitter. On June 16, Huang declared in a tweet that he had filed a defamation lawsuit against ZachXBT accusing him of damaging his reputation through false allegations. Huang was referring to an article published by…

Ripple case is concluding, but the fight for clarity must ‘continue’ – Brad Garlinghouse

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Ripple CEO Brad Garlinghouse has warned that even though Ripple’s legal battle against the United States financial watchdog is coming “to a close,” it is only the beginning of a larger battle for the industry, and the fight for regulatory clarity “has to continue.’ Following the Hinman Documents being unsealed on June 13 as part of the ongoing lawsuit between Ripple and the United States Securities and Exchange Commission (SEC), Garlinghouse published a video on Twitter to discuss the lawsuit’s timeline, which commenced in December 2020, and express his frustration with…

Gary Gensler’s job at risk, BlackRock’s first spot Bitcoin ETF…

Top Stories This Week US lawmakers file ‘SEC Stabilization Act’ to fire Gary Gensler United States Representative Warren Davidson has introduced the “SEC Stabilization Act” into the House of Representatives. One of the bill’s main provisions is to fire Securities and Exchange Commission (SEC) Chair Gary Gensler. The bill would remove Gensler from office and redistribute power between the SEC chair and commissioners. It would also add a sixth commissioner to the agency, disallow any party from holding a majority on the commission and create an executive director position. The…

BUSD falls to fourth position among stablecoins

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The dollar-pegged Binance USD (BUSD) stablecoin sits now at the fourth position in market capitalization among other stablecoins following a dip of over $1 billion in the past 30 days, data from CoinMarketCap shows. As of writing, BUSD market cap stands at $4.30 billion, down 29% from $5.54 billion on May 18. The stablecoin has been in a downward trend since December last year, when its market cap topped $23 billion. Top stablecoins by market capitalization on June 17. Source: CoinMarketCap The decline in BUSD market cap parallels major developments…

Top US Crypto Exchange Coinbase Partners With Jack Dorsey’s Self-Custody Wallet Bitkey

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Top US crypto exchange Coinbase plans to integrate Bitkey, a self-custody wallet developed by Jack Dorsey’s fintech company, Block. In a recent announcement, Coinbase says it has entered a global partnership with Bitkey in an effort to foster the growth of self-custody usage. Dorsey, the billionaire co-founder and former CEO of Twitter, plugged the new partnership online. “Buy Bitcoin from an exchange and move it to a hardware key you control.” News of the partnership comes in the wake of Bitkey’s announcement to open applications for its beta program that…

The Great Battle of Asset Classification – Blockchain News, Opinion, TV and Jobs

Guest post by Giovanni Populo The SEC has charged two major cryptocurrency exchanges: Binance and Coinbase. A common charge between both exchanges is that they offered unregistered securities on their platforms. 1.1 Security vs. Commodity Securities and commodities are financial assets, differentiated by their features/characteristics, as well as legal rulings that set precedents for future references. While securities represent an investment with an expectation of profit, commodities are basic goods with value derived from their inherent properties and usefulness. A security is a financial asset that represents an investment and has an…