Day: October 24, 2023

BTC price pullback after $35K? Bitcoin funding rates turn ‘grossly positive’

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Bitcoin (BTC) consolidated near $34,000 after the Oct. 24 Wall Street open as the dust settled on 15% daily gains. BTC/USD 1-hour chart. Source: TradingView Opinions diverge on Bitcoin funding rates Data from Cointelegraph Markets Pro and TradingView tracked BTC price volatility through the day, with $34,000 a focus at the time of writing. The pair had previously hit 17-month highs near $35,200 on the back of fresh excitement over the potential approval of a Bitcoin spot price exchange-traded fund (ETF) in the United States. Analyzing the sequence of events…

Ledger hardware wallet rolls out cloud-based private key recovery tool

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Hardware wallet firm Ledger is rolling out its cloud-based private key recovery solution despite facing significant criticism from the crypto community. Ledger Recover, an ID-based private key recovery service for the Ledger hardware wallet, is launching on Oct. 24, the firm officially announced on X (formerly Twitter). The release comes in conjunction with Ledger finalizing the open-source code for the Ledger Recover on GitHub. Provided by blockchain protection platform Coincover, Ledger’s seed phrase recovery solution is a paid subscription service allowing users to backup their Secret Recovery Phrase (SRP). SRP…

Ledger to launch controversial recovery service

On Oct. 24, the controversial Recover service from hardware wallet manufacturer Ledger is expected to be released. This was confirmed by the company’s CTO, Charles Guilleme. The solution provides a paid, optional subscription wallet recovery service for users who need a secure seed backup, Guilleme said. Ledger Recover, provided by Coincover, is launching today! This solution is a paid, *optional* subscription wallet recovery service for users who want a secure backup of their Secret Recovery Phrase. 🧵 Let’s recap why this solution is a great and secure option for Ledger…

Bitcoin price surges as ETF anticipation grows: analysis and forecasts

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From market metrics to ETF aspirations, uncover what drives BTC’s price in October. Riding the wave of a largely positive October for cryptos, Bitcoin (BTC) breached the $35,000 barrier on Oct. 23, a high it hadn’t seen since May 2022 As of Oct. 24, the price of BTC has been oscillating between $34,000 and $34,500, demonstrating a slight consolidation after the recent high. Moreover, the year has been fruitful for BTC so far, with its year-to-date (YTD) gains exceeding 100%, specifically standing at 103%.  This bullish momentum is largely fueled…

Norway’s Sovereign Wealth Fund Suffers $34B Loss in Q3 2023

As the largest sovereign wealth fund worldwide, the Norways’s Government Pension Fund Global boasts a robust portfolio across different sectors within the financial market.  Norway’s Government Pension Fund Global, created in the 1990s to manage surplus revenues from the country’s thriving oil and gas sector, faced significant hurdles in its third quarter financial revenues ending September 2023. In an announcement on Tuesday, the Norges Bank Investment Management said the fund, which represents the largest sovereign wealth fund worldwide, experienced a significant loss of a 2.1% decrease in revenue during the…

Economist Peter Schiff Raises Concerns About Spot Bitcoin ETFs

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The possibility of spot Bitcoin ETF approval by the US SEC has caused excitement in the crypto space as investors gear up for a Bitcoin bullish trend. However, not all voices are convinced of the innovative changes of Bitcoin ETFs, as a prominent economist has cautioned about the potential risks associated with Bitcoin ETFs  Schiff Says Bitcoin ETF Selling Risks Ahead Chief Economist and Bitcoin critic, Peter Schiff has aired his concerns about Spot Bitcoin ETFs public in an X (formerly Twitter) post released on Monday.  Schiff stated that the…

Privacy firm Nym launches $300M fund, eyes Web3 wallets, RPCs & infrastructure services

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Blockchain privacy firm Nym Technologies has launched a $300 million funding program aimed at providing capital to projects building security-focused infrastructure. The Nym Innovation Fund will draw capital from venture capitalist investors including Polychain, KR1, Huobi Incubator and Eden Block and will focus on supporting projects building Web3 privacy-focused tools and services. Nym Technologies CEO and co-founder Harry Halpin said that privacy remains a central cog in ensuring that a decentralized internet remains resistant to censorship and avoids the pitfalls of Web2: “This programme will ensure the health of the…

BlackRock Sets Stage for Bitcoin ETF with Seed Funding

BlackRock has taken an important step forward by obtaining a CUSIP number for its iShares Bitcoin spot ETF. BlackRock Inc (NYSE: BLK), one of the world’s largest asset managers, recently made headlines by announcing its plans to provide initial “seed” funding for its spot Bitcoin Exchange Traded Fund (ETF). This strategic move was revealed in its recent securities filings, specifically through the SEC Form S-1, which is the initial registration form required for new securities by public companies based in the United States. BlackRock’s Ambitious Move Seeding an ETF, in…