Day: August 29, 2023

Tether adds Bahamas-based private bank Britannia as partner: Report

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Tether, the stablecoin issuer behind USDT, has reportedly added Britannia Bank & Trust, a private bank based in The Bahamas to process dollar transfers on its platform. It is understood Tether has instructed clients to send money to Britannia’s bank account over the last few months, according to an Aug. 29 report by Bloomberg, citing people familiar with the matter. However, it isn’t clear when Tether’s banking relationship with Britannia Bank started, but its other reported banking partners include Deltec Bank and Capital Union Bank. In recent months, United States-based…

Bitcoin Climbs Above $26,000, A Stronger Bounce Is Imminent?

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The Bitcoin price trades close to the $26,000 level during today’s trading session, as it has since last week. However, new data points to a potential breakout out of the current range and into previously unexplored territory in 2023. As of this writing, Bitcoin trades at $25,950 with sideways movement across the board. Other cryptocurrencies in the top 10 by market capitalization display similar price action as the sector enters another period of low volatility. BTC’s price moving sideways on the daily chart following a breakdown at $29,000. Source: BTCUSDT…

Grayscale ETF Court Rout Puts SEC in Will-They, Won’t-They Role Starring Gensler

The U.S. securities regulator, led by Chair Gary Gensler, now faces several options: appeal the decision; grant Grayscale’s application to list its bitcoin spot ETF; let it be automatically approved by doing nothing; or start up a new, second effort to reject the application based on fresh objections. Much of the industry celebrated Tuesday, assuming this is the beginning of the end of this particular SEC roadblock for crypto, and bitcoin’s 6.5% price climb offered evidence of that optimism. But Gensler has been famously skeptical of crypto and the dangers…

MoonPay creates MoonPay Ventures to invest in web3 gaming and infrastructure

Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied Web3 infrastructure firm MoonPay branches off to create MoonPay Ventures, which will direct the firm to invest in web3 infrastructure and gaming. MoonPay, a web3 infrastructure firm, has launched an investment division named MoonPay Ventures. This new branch aims to focus on nurturing early-stage startups specializing in web3 technology, gaming, and closely related fintech sectors. The news comes as the company acknowledges the increasing significance of web3 and its role as a catalyst in the emerging…

A spot bitcoin ETF is much closer to reality, we’re not there yet

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The US Court of Appeals for the Federal Circuit in Washington, D.C., US, on Wednesday, Aug. 9, 2022. Al Drago | Bloomberg | Getty Images Well, now the SEC is in a real pickle.  The U.S. Court of Appeals for the D.C. Circuit sided with Grayscale in a lawsuit against the SEC, greatly improving the chances that a bitcoin exchange traded fund will be approved. The SEC had earlier denied Grayscale’s application to convert its Grayscale Bitcoin Trust to an ETF.  The problem for the SEC is that the court…

Coinbase, Bitcoin mining stocks soar after Grayscale’s win over SEC

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Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied Coinbase shares soar 15% as U.S. federal court ruling favors Grayscale’s Bitcoin ETF, signaling a transformative moment for the crypto industry. Coinbase Global Inc. shares saw a massive spike following Grayscale’s victory over the SEC, paving the way for the inaugural Bitcoin exchange-traded fund (ETF) in the United States. This is due to the fact that Coinbase is a custodial partner in several pending Bitcoin ETF applications. The exchange’s stocks rallied by over 15% since the…

Crypto community jubilant over Grayscale decision, but uncertainty remains

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The crypto community received the decision it had been hoping for when the District of Columbia Circuit Court of Appeals ruled on Grayscale Investments’ Bitcoin spot ETF application. The United States Securities and Exchange Commission (SEC) rejection of the application was overturned. The decision was “a slaughterfest of the SEC arguments,” Cinneamhain Ventures founder Adam Cochran said on X (formerly Twitter). “This changes everything. Time to pay attention again,” influencer Miles Deutscher chimed in. The initial enthusiasm was tempered by the understanding that the decision was limited in its scope and the…

6 Questions for Leila Ismailova

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Leila Ismailova began her professional career at the age of 15 as a broadcasting star in Belarus, the Russian-neighboring Eastern European country that plays home to 9.3 million citizens. She continued in the role for 10 years, she says, before reaching what she felt was a “professional ceiling” and beginning a journey that led to Web3. “I remember ​my audacity as a child, just sneaking into the buildings with ​newspapers and magazines — it was called the House of Press,” Ismailova recalls in an interview with Cointelegraph. “I would handwrite my stories and sneak into…

Here’s what’s next for bitcoin ETFs after a court ruled in favor of Grayscale over the SEC

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The Securities and Exchange Commission’s approach to regulating the crypto industry took another blow on Tuesday in a court case that could prove to be a key milestone in the ongoing fusion of bitcoin and traditional asset management. A federal appeals court struck down the SEC’s order denying the conversion of the Grayscale Bitcoin Trust (GBTC) into an exchange traded fund. Specifically, the ruling swatted down the regulator’s argument that the spot and futures markets for bitcoin were separate enough to justify holding off direct crypto ETFs even though futures…