Day: September 24, 2023

Valkyrie eyes October launch for Bitcoin Futures ETF

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Asset manager Valkyrie Funds is gearing up to launch its Bitcoin ETF.  In a recent tweet from James Seyffart, a research analyst with Bloomberg Intelligence, Valkyrie Funds updated its post-effective date for a leveraged Bitcoin Futures ETF. This product’s initial filing was made on May 15, Seyffart noted. However, the asset management firm has set its sights on a revised Oct. 20 launch date. Valkyrie jockeys for position Valkyrie has thrown its hat into the ring alongside prominent asset management firms like BlackRock and Fidelity, all vying for approval to…

Coinbase identified as largest Bitcoin holder globally

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Coinbase holds $25 billion worth of Bitcoin, amounting to nearly 5% of the cryptocurrency’s total supply, according to Arkham Intel. Blockchain intelligence platform Arkham Intel, on Sept. 22, revealed that U.S.-based crypto exchange Coinbase currently possesses close to 1 million Bitcoins (BTC) in its wallets.  Arkham has now identified $25B of Coinbase Bitcoin reserves (~1M BTC) on chain. This makes Coinbase the largest Bitcoin entity in the world on Arkham, with almost 5% of all BTC in existence – about as much as Satoshi Nakamoto. pic.twitter.com/7sDOczS7WT — Arkham (@ArkhamIntel) September…

Explosive 6-Week Growth Sees Base Hit New Milestone

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Coinbase’s layer 2 scaling solution, called Base, has seem a meteoric rise in popularity recently. In just six short weeks since its launch, Base’s total value locked (TVL) has skyrocketed to nearly $400 million. This rapid rise in use and popularity has even seen it recently overtake the Solana blockchain in TVL.  Coinbase’s Layer 2 Scaling Network TVL Overtakes Solana  Base operates as a layer 2 network on Ethereum launched by Coinbase in collaboration with Optimism to offer a safe, low-cost, developer-friendly way to build on-chain. Since its launch, Base…

Miss Universe denies link with recently unveiled coin project

The Miss Universe Organization has denied any association with the Miss Universe Coin project announced at the Philippine Blockchain Week (PBW) event held earlier this month. PBW said that they are in contact with all involved parties and will post an update soon. Earlier this month, a project called Miss Universe Coin was announced at PBW. Donald Lim, the founder of the organization managing the PBW, said during the event that the PBW will “launch the Miss Universe Coin.” However, weeks after the announcement, the official organization behind Miss Universe has denied…

How to buy Bitcoin in Dubai

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Dubai is a magnificent city to live and work in. But how can someone buy Bitcoin in Dubai? Is it legal to buy Bitcoin in Dubai? Is Dubai crypto-friendly?  Here’s a quick guide with the answers. The great news is that, yes, buying Bitcoin (BTC) in the United Arab Emirates is permitted, and the country is actually one of the most welcoming to cryptocurrency exchanges and investors. Is Dubai crypto-friendly? The thriving metropolis of Dubai in the UAE has long been deemed a crypto-friendly city. Some describe the UAE as…

BTC price tracks $26.5K as Bitcoin speculator supply hits 12-year low

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Bitcoin (BTC) stuck to $26,500 into the Sept. 24 weekly close as exchange trader accumulation continued. BTC/USD 1-hour chart. Source: TradingView Analysis: BTC price “not ready to make a move” Data from Cointelegraph Markets Pro and TradingView showed BTC price stability holding firm over the weekend. Bitcoin had delivered a cool end to the Wall Street trading week, having also shaken off macroeconomic volatility catalysts from the United States. With few cues appearing since, popular trader and analyst Credible Crypto eyed a slow build-up to a trend shift on the…

Couple mistakenly sent $10.5M by Crypto.com to face October plea hearing

The Melbourne couple who accidentally received 10.5 million Australian dollars (AUD), or almost $6.6 million, will be facing a plea trial in October for a theft charge after spending the funds that they received by mistake in 2021.  In May 2021, Thevamanogari Manivel transferred funds to her partner Jatinder Singh’s Crypto.com account. However, the exchange detected that the bank account did not match the exchange account. Therefore, a refund was issued, but instead of refunding the 100 AUD that the couple tried to put in, the exchange mistakenly sent 10.5…

Terra Classic community elects to cease USTC minting

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The Terra Classic community has voted in favor of ceasing all minting and reminting activities related to TerraClassic USD (USTC), with the objective of reestablishing a stable peg between USTC and the U.S. dollar. In a recent proposal, the community voted with 59% in favor of discontinuing the minting of USTC, while approximately 40% were opposed to the change. Terra Classic poll results. Source: Atom Scan The move aims to safeguard the interests of both the community and external investors by reducing the supply of USTC, thereby contributing to the…

FTX’s former external legal team disputes involvement in fraud allegations

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A law firm that previously provided services to the now-defunct cryptocurrency exchange FTX has refuted a class-action lawsuit brought against them claiming that it assisted in the exchange’s alleged fraudulent activities.  According to a Sept. 21 court filing, Fenwick & West, a United States law firm, denies all accusations of misconduct related to the provision of legal services during FTX operations: “It is black-letter law that an attorney cannot be held liable for conspiracy or aiding and abetting a client’s wrong “‘as long as [his] conduct falls within the scope…

Coinbase secures AML registration from the Bank of Spain

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Cryptocurrency exchange Coinbase has secured an Anti-Money Laundering (AML) compliance registration from Spain’s central bank, as part of its ongoing expansion across Europe. According to a Sept. 22 statement, the registration with the Bank of Spain now means that Spanish users will be able to retain custody of their crypto assets on Coinbase, as well as buy and sell crypto assets in Spain’s legal tender, the Euro. “This registration will allow Coinbase to offer our full suite of products and services to retail and institutional users in Spain, all in…