Stablecoin issuer Tether will publish real time data on the reserves backing USDT, the industry’s largest dollar-pegged stablecoin, according to a Bloomberg report. Source
Tether Will Publish Reserve Data in Real Time in 2024: Report
Day: October 20, 2023
Binance Publishes Q3 Market Pulse Report Describing Quarter as Challenging for Crypto Market
According to the Binance report, the crypto market saw declines across the board in Q3, as fundraising and developer activities tanked. Binance has called the third quarter of 2023 “a challenging quarter” for crypto. In its Q3 “Market Pulse” report, Binance highlighted a few drawbacks the crypto industry faced, adding insights and shedding light on the general state of the industry. The report revealed declines in the industry across several points. For instance, Binance notes that the total market capitalization fell by 8.6% quarter-on-quarter (QoQ) despite a rally following Ripple…
Bitcoin price breaks above $30,000 mark
Bitcoin has surged past the $30,000 milestone, marking a notable 5.64% increase in just 24 hours. Currently, Bitcoin (BTC) is trading at $30.015, according to CoinMarketCap. Its total market capitalization is $585.87. Bitcoin price in 24 hours. Source: CoinMarketCap This uptrend in the cryptocurrency’s value is partly attributed to the U.S. Securities and Exchange Commission (SEC) deciding to drop a lawsuit against Ripple and its executives, CEO Brad Garlinghouse and chairman Chris Larsen. The broader crypto market reacted to the news immediately, with all top coins, including ETH and XRP,…
Federal Court Set to Formalize Grayscale ETF Victory Today Following SEC’s Refusal to Appeal
A federal court may formalize the ruling on Grayscale’s ETF today, officially vacating the SEC’s refusal to convert the GBTC. A federal court is set to formalize Grayscale Investments’ victory over the United States Securities and Exchange Commission (SEC) over the firm’s conversion of the GBTC into a spot Bitcoin exchange-traded fund (ETF). Closing the case will legally establish Grayscale’s win, especially as the SEC chose not to appeal the ruling. Court to Formalize Grayscale Ruling Today marks the final deadline for the DC Circuit Court of Appeals, ending the…
Community reacts to SEC dropping XRP case and LBRY shutdown
Ripple’s new win in the legal battle against the United States securities regulators has been marred for crypto enthusiasts by news of the blockchain platform LBRY shutting down operations, which has triggered the community to react. The U.S. Securities and Exchange Commission (SEC) announced its intention to dismiss all claims against Ripple CEO Brad Garlinghouse and executive chair Chris Larsen on Oct. 19. The event marked a significant legal win for Ripple in the civil case filed by the SEC in late 2020. On the same day, LBRY, a major…
Argentine central bank to introduce digital peso bill ‘as soon as possible’
After a series of remarks about the potential benefits of a central bank digital currency (CBDC) for the national economy, the Central Bank of the Argentine Republic said it has accelerated its work on legislation to implement the CBDC workflow in the country. On Oct. 18, during a public discussion on the Filo News channel, Argentina Central Bank director Juan Agustín D’Attellis Noguera revealed that the central bank is working on the legislative framework for the digital peso CBDC project recently proposed by the Minister of Economy and presidential candidate Sergio…
Chinese AI Startup Zhipu Secures $342M in Funding from Alibaba, Tencent
Zhipu and Baichuan are the two leading startups involved in China’s push for using generative artificial intelligence competing with Google and OpenAI. Amid the buzzing AI market, Chinese AI startup Zhipu announced that it has secured $342 million (or 2.5 billion yuan) in funding from Chinese tech giants Alibaba Group Holding Ltd (NYSE: BABA) and Tencent Holdings Ltd (HKG: 0700). HongShan, the former Sequoia China along with food delivery leader Meituan joined the recent funding round. China’s top two tech giants, along with key competitors such as Ant Group and…
Why Is Bitcoin SV (BSV) Up 63% Today
Over the course of the past four days, Bitcoin SV (BSV) has witnessed a substantial surge in its price, marking an impressive milestone by reaching its highest point in the last 100 days. Remarkably, within this surge, BSV managed to breach the long-standing $40 horizontal resistance level, which had persisted since the month of July. This recent surge in the price of BSV has sparked considerable interest among cryptocurrency enthusiasts and investors. It signifies a notable shift in the market dynamics, as BSV’s price trajectory has taken a positive turn…
Our Favorite Quotes, So Far
It’s fall break! Thursday ended early after just two witnesses – former FTX General Counsel Can Sun and Third Point’s Robert Boroujerdi – testified briefly. We won’t be back in the courthouse at 500 Pearl Street until next Thursday, Oct. 26, when we’ll resume our normal analyses. Instead, today, CoinDesk’s SBF trial team is proud to present: Our favorite quotes. Source
U.S. Spot BTC ETF Approval Likely Within Months: JPMorgan
ETFs are traded on an exchange, like stocks, and track the performance of an underlying asset. They are popular because they allow investors to gain access to cryptocurrencies without having to purchase the underlying digital assets themselves. They are also cheaper to trade. The crypto market is hopeful that the approval of a spot bitcoin ETF will lead to a flood of mainstream money into the sector. Source