Day: October 19, 2023

SEC Chair Says He’s Still Weighing Bitcoin ETF Proposals

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The SEC chair said that the Commission has a lot of applications to review for spot Bitcoin ETFs. Mike Novogratz expects a spot Bitcoin ETF coming by the year end. There’s a lot happening around the approval of the spot Bitcoin ETF in the market with the SEC losing the edge over the applicants. During his interview with Bloomberg on Wednesday, October 18, Gary Gensler stated that they have multiple filings to review as of now. Furthermore, the Commission is reviewing the right exchange-traded products for Bitcoin. “Those filings are…

India state refiner HPCL uses blockchain to verify purchase orders

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India’s state-run refiner Hindustan Petroleum (HPCL), one of India’s largest oil and gas companies, is launching a blockchain system to enable automated verification of purchase orders (POs). HPCL has partnered with the blockchain software firm Zupple Labs to integrate its blockchain-based digital credentialing technology into the purchase order system, the firms said in a joint announcement. Called LegitDoc, Zupple Labs’ verification tech enables HPCL to issue digital POs to its vendors without having to manually verify the PO requests. From a third-party verifier’s perspective, the project provides a facility to…

Coinbase Picks Ireland for EU Hub As U.S. Regulatory Offensive Builds Up

“Ireland has a supportive political environment for FinTech companies, as well as a globally respected regulator,” said a statement by Coinbase’s Vice President and Regional Managing Director for Europe, the Middle East and Africa, of the EU country that already plays host to tech giants like Apple and Google. “We look forward to working with regulators in Ireland, Germany and beyond, to bring this industry to its full potential with the advent of MiCA.” Source

Netflix Reports Better-than-Expected Q3 2023 Earnings, NFLX Shares Jump Over 12%

In Q3 2023, Netflix finalized a share buyback of about $2.5 billion and increased its repurchase authorization by $10 billion. Netflix Inc (NASDAQ: NFLX) shares closed Wednesday trading at $346.19, down 2.68 percent from the day’s opening price. The losses were quickly erased during the after-hours with a spike of about 12.51 percent to trade around $389.51. The sudden rebound was due to the third-quarter earnings results that beat analysts expectations. According to the company’s Q3 2023 earnings report, the third quarter adjusted earnings per share (EPS) came in at…

SEC chairman Gensler confirms ongoing review of Bitcoin ETFs

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Securities and Exchange Commission (SEC) Chairman Gary Gensler recently commented on the application status of numerous Bitcoin spot ETF applications. SEC Chairman Gary Gensler confirmed that the regulator reviews numerous Bitcoin spot ETF applications. While mentioning eight or nine such applications, Gensler emphasized the long-standing review process without specifying Grayscale’s situation. “The staff is doing work on those multiple filings.” Gary Gensler, SEC chairman Speaking to Bloomberg, Gensler added that proponents must ensure that their products are registered with the SEC and go through a filing process somewhat similar to…

Standard Chartered Bank to Launch Crypto Custody Service in Dubai

Starting from the first quarter of 2024, the crypto custody service will be operated by Zodia Custody – the leading institution-first digital asset custodian by Standard Chartered. British multinational services company Standard Chartered PLC (LSE: STAN) is planning to launch a crypto custody service for Bitcoin (BTC) and Ethereum (ETH) to institutional clients in Dubai, UAE. The service will be available as soon as the first quarter of 2024. In addition, the bank has ambitious plans to establish a cryptocurrency settlement network. Standard Chartered marked its presence in the UAE back in…