The head of research for digital asset manager 3iQ wrote that the largest cryptocurrency by market capitalization is still riding tailwinds from multiple spot bitcoin ETF filings and other June events. Source
Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied In a recent CNBC interview, former SEC Chair Jay Clayton discussed the changing regulatory environment surrounding bitcoin ETFs, stating that it would be challenging to resist approving them. Clayton explained that institutions are arguing that the distinctions between spot and futures products have diminished, making spot products more efficient and less burdensome for investors. A trend in embracing bitcoin Jay Clayton held the position of the SEC Chair from May 2017 to December 2020 and has…
In an email dated Jan. 17, 1993, Hal Finney — a developer and early contributor to Bitcoin — shared the concept of “encrypted digital cards,” which are now known as nonfungible tokens (NFTs). “Giving a little more thought to the idea of buying and selling digital cash, I thought of a way to present it,” Finney wrote at the time. “We’re buying and selling ‘cryptographic trading cards.’” The most fascinating detail of his email lies in the fact that, by sharing this idea, Finney intended to facilitate the understanding of…
The new third-party payment service claims to be independent of the Damus iPhone app that Apple has tried to restrict, and lets users tip one another on any app that runs on the Nostr protocol. Source
Arkham, a “blockchain intelligence company,” announced what it’s calling the “world’s first on-chain intelligence exchange” on July 10 alongside the launch of a new coin, ARKM, through Binance’s Launchpad service. Crypto Twitter has had a predictably split response to the announcement, with negative sentiment surrounding Arkham’s purported mission to “deanonymize the blockchain” causing some ire. Chief among the complaints, many of which describe the company’s Intel Exchange as a “snitch-to-earn” or “snitching-as-a-service” program, involves Arkham’s perceived role as a centralized intelligence agency. Fuck this. It’s not even the snitch-to-earn component…
Andrew Bailey, a Bank of England (BOE) governor, delivered a speech July 10 in which he moved smoothly from the central bank’s efforts to control inflation and maintain public trust in financial institutions to why cryptocurrencies are not money. Instead of cryptocurrencies and stablecoins, he would prefer “enhanced digital money.” The spate of bank failures in the United States and Switzerland earlier this year revealed issues of the singleness of money and settlement finality, Bailey said. Both cryptocurrencies and stablecoins fail basic tests of singleness and settlement finality, he said, without elaborating.…
Grayscale Investments has called out the SEC for approving Bitcoin futures ETFs over spot Bitcoin ETFs The DCG subsidiary recently penned a letter to a Columbia court to highlight the SEC’s unequal treatment of BTC-based ETFs. Grayscale’s letter came more than a year after it sued the SEC for denying its spot BTC ETF application. The SEC has since rejected several other spot Bitcoin ETF applications filed by BlackRock, Fidelity, etc. Grayscale Investments, the asset management giant behind the world’s largest Bitcoin, has called out the U.S. Securities and Exchange…
Regarding the separate issue with referrals, anyone who shared their Arkham link may have inadvertently put their anonymity (or at least their email address) at risk. The pseudonymous m4gicpotato, a contributor to the privacy blockchain Beam, posted about the issue on Twitter on Monday, where it quickly went viral. M4gicpotato described themselves as a privacy advocate who has worked in crypto under various names since 2017. Source
The Arcadia Finance attacker used a reentrancy exploit to drain $455,000 from the decentralized finance (DeFi) protocol, according to a July 10 post-mortem report issued by the app’s development team. A “reentrancy exploit” is a bug that allows an attacker to “reenter” a contract or interrupt it during a multi-step process, preventing the process from being completed correctly. The team has sent a message to the attacker demanding the return of funds within 24 hours and threatening police action if the hacker fails to comply. Post Mortem of ongoing situation,…
Six members of the United States congress have called on the U.S. Securities and Exchange Commission (SEC) and Department of Justice to investigate Prometheum, claiming the firm has ties to the Chinese Communist Party. In a July 10 letter, Alabama Senator Thomas Tuberville and five members of the House of Representatives alleged Prometheum co-CEO Aaron Kaplan may have provided false testimony at a June 13 hearing on regulatory clarity in the crypto space. The U.S. lawmakers claimed Prometheum was connected to investors with “ties to the Chinese Community Party”: Shanghai…