Day: July 18, 2023

US SEC accepts BlackRock’s spot Bitcoin ETF application

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Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied The US Securities and Exchange Commission (SEC) has accepted BlackRock’s application for a spot Bitcoin exchange-traded fund (ETF). The SEC’s official calendar now shows BlackRock’s application will be published in the Federal Register, starting a 21-day public comment period. On the docket BlackRock’s application to launch a spot Bitcoin exchange-traded fund (ETF) has been added to the SEC docket as part of the proposed rule change process.  This latest development, recorded on July 13, represents a significant milestone…

Crypto headcount surges over 100% since 2019 despite implosions

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Despite several high-profile cryptocurrency implosions, the number of people working in the industry has soared over the past four years. According to findings by the crypto research startup K33, the number of crypto-related employees has surged nearly 160% since 2019. In a report titled “The Emerging Crypto Industry,” K33 estimated that the total headcount of people working in crypto as of 2023 amounted to nearly 190,000 persons. The estimations also suggested that the number of such professionals stood at just around 73,000 people in 2019. According to the data, the…

Levered Bullish Longs Getting Liquidated as Bitcoin Market Softens

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Futures trading involves the use of leverage, meaning traders can take large long/short position by depositing a relatively small amount of money, called a margin, with the exchange providing the rest of the value. That exposes futures traders to liquidations – forced closure of long/short positions due to margin shortages often caused by the market moving against the direction of the levered bet. Original

Celsius sells $23.5 million of tokens days after former CEO was arrested

Celsius Network, which filed for bankruptcy in 2022, is selling its crypto holdings as the broader market recovers, partly due to Ripple’s win against the US Securities and Exchange Commission (SEC). Data provided by Lookonchain shows that Celsius has already sold roughly $23.5 million worth of cryptocurrencies — including $8.5 million of chainlink (LINK), $7.84 million of synthetix (SNX), $3 million of BNB, $2.26 million from 1inch (1INCH), and $1.9 million worth of ox protocol (ZRX).  Moreover, screenshots shared by the data provider also suggest that Celsius has deposited almost 439,000 FTT,…

Threads copies Twitter again, introduces ‘rate limits’ to combat bots

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Mark Zuckerberg’s Twitter alternative, Instagram Threads, has been forced to implement rate limits in response to a growing number of reports citing spam attacks and crypto-shilling bots. Instagram head Adam Mosseri announced the introduction of rate limits in a July 17 post on the Threads app. Adam Mosseri’s explanation for the introduction of rate limits on Threads. Source: Threads “Spam attacks have picked up so we’re going to have to get tighter on things like rate limits, which is going to mean more unintentionally limiting active people (false positives). If…

Aave deploys DAI stablecoin competitor on Ethereum

Aave has launched its algorithmic stablecoin, GHO, backed by multiple crypto assets, including ethereum (ETH). GHO will be an alternative to DAI, a stablecoin minted by MakerDAO. Aave’s GHO is live  After more than one year in development, Aave, the world’s second-largest decentralized finance (DeFi) protocol, has launched GHO (pronounced “go”), an overcollateralized decentralized algorithmic stablecoin on Ethereum.  On July 15, Aave said DeFi market participants could mint the GHO stablecoin by depositing supported collateral assets into the Aave Protocol V3 on Ethereum.  Unlike popular stablecoins like tether (USDT), issued by centralized entities,…

US regulatory clarity has begun in court after Ripple win: CFTC commissioner

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Caroline Pham, the Commodities Futures Trading Commission (CFTC) Commissioner, believes the path to United States crypto regulatory clarity has been laid out following Ripple’s partial victory. Speaking on Bloomberg TV on July 17, Commissioner Pham said recent big court decisions regarding the classification of crypto assets will eventually lead to regulatory clarity.  “You know, last year I said that we were going to see regulatory clarity first in the courts around the definition of a security, and I think we’ve seen that with some very big court opinions that have…

SEC’s Gary Gensler believes AI can strengthen its enforcement regime

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Gary Gensler, the chair of the United States Securities and Exchange Commission, believes staff at its agency could benefit from greater use of artificial intelligence. During a July 17 speech before the National Press Club, where he later broke his silence about the recent Ripple court ruling, Gensler listed several potential use cases of AI that could assist the regulator in its role as securities watchdog. “We at the SEC also could benefit from staff making greater use of AI in their market surveillance, disclosure review, exams, enforcement, and economic analysis,” he…

Apple’s headset could redefine what being in the metaverse means

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The release of Apple’s new mixed-reality headset, Vision Pro, could cause a seismic shift in how users will experience the metaverse, with developers potentially moving away from the absolute isolation of virtual reality. Unlike today’s virtual reality headsets, which center on full immersion, Apple’s Vision Pro — unveiled on June 5 — can also superimpose applications onto the real world, letting users “interact with digital content in a way that feels like it is physically present in their space.” Apple’s AR headset revealed – Apple Vision Pro pic.twitter.com/UpNM7cH5yL — Wario64…