Day: July 1, 2023

Price analysis 7/1: BTC, ETH, BNB, XRP, ADA, DOGE, SOL, LTC, MATIC, DOT

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The rejection of ETF applications by the SEC caused a knee-jerk reaction but the shallow fall in Bitcoin and several altcoins suggests that lower levels are attracting buyers. Bitcoin (BTC) witnessed a volatile trading session on the last day of the quarter. The bulls were trying to maintain Bitcoin’s price above $31,000 but they received a jolt on a Wall Street Journal report which stated that the United States Securities and Exchange Commission (SEC) had returned applications for the Bitcoin spot-price exchange-traded fund (ETF).  Although there was a knee-jerk reaction…

SEC calls ETF filings inadequate, Binance loses euro partner…

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Top Stories This Week US SEC deems spot Bitcoin ETFs filings as inadequate There may be a longer wait for a spot Bitcoin exchange-traded fund (ETF) in the United States, as the Securities and Exchange Commission labeled investment managers’ recent applications inadequate. The SEC told the Nasdaq and the Chicago Board Options Exchange that their filings are not “sufficiently clear and comprehensive.” The regulator returned the filings, citing the lack of information regarding the proposed surveillance-sharing agreement. Asset managers can still resubmit their applications. Cathie Wood’s ARK reportedly ‘first in…

Celsius to convert its altcoins to bitcoin and ether

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Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied Bankrupt crypto lender Celsius Network has been granted permission to convert its altcoin holdings into bitcoin (BTC) and ethereum (ETH). The move will allow the company to distribute funds to its creditors in the two most widely used cryptocurrencies.  Celsius Network, a bankrupt crypto lender, has been approved by the US Bankruptcy Court for the Southern District of New York to convert its altcoins into bitcoin or ether.  The court order, issued by Judge Martin Glenn…

WisdomTree bets on Bitcoin ETF despite prior rejections

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WisdomTree is attempting to launch a spot bitcoin exchange-traded fund even though its peers have failed. The firm filed with the U.S. Securities and Exchange Commission last week, making it its second bitcoin ETF application after an initial rejection two years ago. However, WisdomTree’s Jeremy Schwartz believes this time could be different.  “We’ve been able to successfully launch products in Europe,” the firm’s global chief investment officer said on CNBC’s “ETF Edge” this week. “The European regulators have been more friendly, and they’ve been able to get comfortable with the…

Liquidators demand $1.3m from Three Arrows Capital founders

The liquidators of the bankrupt ‘digital currency’ hedge fund Three Arrows Capital (3AC) seek $1.3 billion from its founders, Zhu Su and Kyle Davies. According to sources, the New York advisory firm Teneo, appointed as liquidators, alleges that the requested amount corresponds to the losses incurred by the duo before the hedge fund’s collapse. In a meeting held on June 27, the liquidators devised strategies for the ongoing liquidation process. Three Arrows Capital liquidators are seeking to recover $1.3 billion from the co-founders of the failed crypto hedge fund https://t.co/ycXkzBs1zy…

The battle of SEC and crypto companies: 2023 outline

The SEC has initiated legal actions against multiple crypto entities to address potential violations of securities laws and protect investors. As the deadlines for some of them draw near, let’s recall which are expected to end. Gary Gensler’s SEC has taken legal actions against countless crypto-focused business entities to ensure compliance with its securities laws, aiming to bring the tokens of these projects under its securities umbrella. The SEC claims its actions protect investors from falling victim to potential fraud. US regulator aims to foster stability in the cryptocurrency industry…

Shiba Inu burns 1.6b tokens in June

A recent tweet by Shibburn shows that the shiba inu community sent 1,653,845,435 SHIB meme coins to empty wallets in the past month. While the quantity of burned SHIB tokens may seem impressive, daily burning rates remain volatile, often plunging significantly into negative territory. On June 30, Shiba Inu’s burn rate spiked by 1,800% due to locking 50,258,924 SHIB in unspendable wallet addresses. 🔥🔥🔥 1,653,845,435 $SHIB tokens have been burned in the month of June with 164 transactions. #shib — Shibburn (@shibburn) July 1, 2023 However, only two daily SHIB…

Bitcoin price has never lost more than 10% in July — Is 2023 different?

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Bitcoin (BTC) gained 12% in June, but one forecast sees the good times soon fading for bulls. In a tweet on July 1, popular trader CryptoBullet admitted that July might not offer much more BTC price upside. Trader: BTC price rally “likely” ending this month Despite a last-minute dive thanks to a macro news event, Bitcoin managed to close out the month of June in a solid position. Data from Cointelegraph Markets Pro, TradingView and CoinGlass confirms that the monthly close came in at $30,465 on Bitstamp. BTC/USD 1-hour chart.…

Solana surpasses Ethereum in 24h NFT sales

In the past 24 hours, Solana’s NFT daily sales volume increased, surpassing Ethereum’s for the first time since May 2022. During a 24-hour period from June 30, the Solana (SOL) network produced more NFT sales in volume than Ethereum (ETH). This contrasts with the high-value Ethereum NFT market, which has recently declined in trade volume. According to information provided by CryptoSlam, the sales of Solana NFTs on the secondary market generated close to $24.2 million over the previous day, while sales of Ethereum totaled $21.2 million. Blockchain sales by NFT…

India Blockchain Alliance’s founder explains its impact

India Blockchain Alliance (IBA) was set up in 2018 by Raj Kapoor — an advisory board member at over 50 blockchain companies — based on the idea the technology could help reshape financial, social and governance systems in the world’s most populous nation and make them more decentralized, open and equitable.  While India’s government has warned about risks in cryptocurrency trading, it has shown support for blockchain technology as have several states in India. Pune state is adopting blockchain to record real estate transactions to reduce fraud. Police in the…