Day: July 19, 2023

The Grayscale Bitcoin Trust Discount Is Narrowing; Here’s Why It Matters

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There are few questions in crypto hotter at the moment than whether or not U.S. regulators will finally allow for the creation of ETFs that hold bitcoin (as opposed to the current landscape where the closest thing regulators have allowed are ETFs that hold bitcoin futures contracts). Traditional finance giant BlackRock recently put its enormous muscle behind the push, applying to create one of its own. Given its sway in Washington, D.C., as the world’s largest asset manager, this has generated a massive amount of optimism that a spot bitcoin…

Price analysis 7/19: BTC, ETH, XRP, BNB, ADA, SOL, DOGE, MATIC, LTC, DOT

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Bitcoin’s failure to rebound off strong support levels increases the risk of a deeper correction that could also negatively impact altcoins. After failing to sustain above the resistance of its narrow range, Bitcoin (BTC) fell near a key support on July 18. The consolidation of the past few days seems to be an accumulation phase, according to Glassnode’s Bitcoin Accumulation Trend Score. A similar score was seen during the accumulation phases between November to December and again from March to April. According to CoinShares data, institutional investors continue to plow…

Multiple spot crypto ETF applications go to Federal Register in step toward SEC approval

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Spot Bitcoin exchange-traded fund (ETF) applications from several firms have been published in the Federal Register, moving them one step along in the United States Securities and Exchange Commission’s (SEC) process. According to records updated July 19, the Federal Register received notices of proposed rule changes allowing Bitcoin (BTC) ETF applications from BlackRock, Fidelity, Invesco Galaxy, VanEck and WisdomTree. Publishing the applications in the official journal of the U.S. government gives the SEC a window of opportunity to accept or reject the request, extend the time allowed or open the application for…

Google Play Store officially allows NFT games, but no gambling: Nifty Newsletter, July 12–18

In this week’s newsletter, Google Play has officially allowed nonfungible token (NFT) games on its store — with some limitations. NFT company Dapper Labs has completed its third round of layoffs, and a blockchain gaming startup has enabled an automated refund feature for NFT purchases. In other news, check out the blockchain-based game that has started to spike daily transaction volumes on the Sui Network, and don’t forget this week’s Nifty News, featuring the Bank of America training employees inside the metaverse.  Google Play Store officially allows NFT games, but…

Crypto Exchange Binance Hits Pause on Certain Employee Perks, Cites Decline in Profits: Report

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Top global crypto exchange Binance is reportedly eliminating some employee benefits due to a decrease in profits. Anonymous former company employees told the Wall Street Journal that the exchange sent out an email last month announcing it was putting a stop to work-from-home expenses and reimbursements for mobile phones and fitness, among other benefits. The WSJ also viewed a message from Binance’s internal messenger that confirmed those details.  Said the message, “Considering the current market environment and regulatory climate that has unfortunately led to a decline in profit, we have…

Apple has its own GPT AI system but no stated plans for public release: Report

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Apple’s reportedly working on its own generative pre-trained transformer (GPT) artificial intelligence (AI) model. However, there’s no indication that the company has any plans to launch it to the public. Per a July 19 report from Bloomberg, Apple’s internal GPT system is called “Ajax.” It’s purportedly similar to OpenAI’s ChatGPT and Google’s Bard. Apple has a longstanding reputation for developing its products inside of a walled garden. While “Ajax,” which Bloomberg reports some engineers have referred to as “Apple GPT,” could eventually turn into a consumer-facing product, its current infrastructure…

Bipartisan bill to regulate DeFi, crypto security risks, introduced into US Senate

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United States Senator Jack Reed sponsored a bipartisan bill introduced into the Senate on July 18 that would tighten Know Your Customer and Anti-Money Laundering (KYC/AML) and sanctions requirements for decentralized finance (DeFi). According to a news release on Reed’s website, the bill is titled the Crypto-Asset National Security Enhancement and Enforcement (CANSEE) Act. The bill would subject DeFi operations to the same requirements as “other financial companies, including centralized crypto trading platforms, casinos, and even pawn shops.” The bill would make “anyone who controls that project” liable for the…

Famous Game ChuanQi IP Launches Blockchain-Based MORPG, MIR2M: The Dragonkin, in 170 Countries

ChuanQi IP, a subsidiary of Wemade, has recently released a promotional video for its new blockchain-based Multiplayer Online Role-Playing Game (MORPG), MIR2M: The Dragonkin. The video was revealed on the company’s official YouTube channel and provides a glimpse into the narrative of the MIR2M series. Wemade, the parent company of ChuanQi IP, is a well-established entity in the gaming industry. The company has a diverse portfolio of games, ranging from traditional online games to mobile and blockchain-based games. Wemade’s commitment to innovation and the integration of emerging technologies like blockchain…

Solana Foundation, Polygon Lead $30M Fundraise for Web3 Firm Cosmic Wire

“We are very excited for Cosmic Wire’s Web3 infrastructure to be built on the Solana network,” said Johnny Lee, general manager of games, entertainment, and media at Solana Foundation, in a press release. “Their metaverse SDK solutions significantly reduce development times of high-fidelity, 3D, browser-based metaverse experiences with e-commerce of both physical web3 digital products, content CDNs [content delivery networks], payment solutions and avatar UGC [user generated content] all integrated,” Lee added. Source