Month: July 2023

Filecoin onchain metrics falling, ChatGPT recommends diversifying with Tradecurve’s TCRV

The United States Securities and Exchange Commission’s (SEC) recent classification of FIL as a security has raised doubts about its future. This has resulted in a drop in the value of FIL, Filecoin’s native currency, impacting its daily trading volume.  Furthermore, Filecoin’s on-chain metrics point to weakness and could force FIL to new 2023 lows.  ChatGPT recommends that investors consider diversifying with other projects like Tradecurve. After gains in June, the project’s presale is progressing successfully. >>Register for the Tradecurve presale<<  Can FIL recover as a security? The growing significance…

Vitalik Buterin declares he is not staking all of his ETH, merely a ‘small portion’

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Ethereum co-founder Vitalik Buterin stated that he does not stake all of his Ethereum (ETH) due to multisignature (multisig) wallets being “complicated in a bunch of ways.” On the 29 June episode of the Bankless Podcast, titled Restaking Alignment, Buterin revealed the “biggest reason” why he is only staking a small fraction of his Ethereum, as opposed to staking the entirety of it. He explained: “Because if you stake your ETH, the keys that access it have to be public on a subsystem that is online. For safety, it has…

Bittrex challenges SEC’s authority in crypto lawsuit, seeks dismissal

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Bittrex, a cryptocurrency exchange, has made a notable move in its legal dispute with the United States Securities and Exchange Commission (SEC) by submitting a motion to dismiss the lawsuit filed against it. In its recent court filing, Bittrex argues that the SEC does not possess the necessary authority to regulate cryptocurrencies as securities unless explicitly granted by Congress. This assertion challenges the SEC’s interpretation of existing securities regulations and seeks to establish a more defined regulatory framework that accommodates the distinct characteristics of digital assets. In its motion to…

Hong Kong establishes task force to advance Web3 development

As part of Hong Kong’s ongoing commitment to embrace the “megatrend” of Web3 development, it has established a diverse group of industry and government officials to supervise the progress of Web3 in the region. According to a June 30 statement, the government of Hong Kong has formed a task force comprising 15 industry participants and 11 key government officials to oversee the development of Web3, with a particular focus on promoting its growth in an ethical manner. It stated: “The Financial Secretary has announced in the 2023-24 Budget the establishment…

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…