Day: October 25, 2023

BlackRock Fined $2.5M by SEC for Misleading Investment Disclosures

It is worth noting that the SEC’s action come only days after BlackRock unveiled its ticker symbol (IBTC) in anticipation of the approval of its spot Bitcoin Exchange Traded Fund (ETF). The US Securities and Exchange Commission (SEC) recently fined BlackRock Advisors LLC, a subsidiary firm of BlackRock Inc (NYSE: BLK), $2.5 million for failing to provide accurate and transparent disclosures about investments in the entertainment industry within a publicly traded fund it managed. BlackRock’s Inaccurate Investment Description The SEC highlighted in a recent release that between 2015 and 2019,…

Solana Epic Bounceback To Pre-FTX Heights: Brace Yourself For What’s Next

boss

Solana (SOL) has experienced remarkable growth in the past month, outpacing its peers in the cryptocurrency market. According to data from Messari, SOL’s market capitalization surged over 60%, solidifying its position among the top ten crypto assets.  This rally comes after a challenging period for SOL bulls who struggled to maintain support at the $20 mark, not to mention the significant drop to $8 following the FTX exchange implosion in November. The price of major ecosystem tokens has recently been on the rise. Solana in particular has experienced a nearly…

Deutsche Bank Shares Jump 7% as Q3 2023 Revenue Beats Expectations

Thanks to its stellar financial performance in the third quarter, the bank has raised its full-year outlook for 2023. Shares of German banking giant Deutsche Bank (ETR: DBK) surged by a remarkable 7% on Wednesday morning following the company’s stellar Q3 2023 performance that exceeded market expectations. Despite an 8% decline in net profit compared to the previous year, the bank’s Q3 2023 net profit of €1.031 billion surpassed the €997 million analysts earlier predicted. Its strong financial performance makes it the thirteenth consecutive profitable quarter for the bank. Deutsche…

The Bitcoin you know is not there anymore: Bitcoiner explains

boss

Bitcoin has undergone a profound change in its issuance rate that makes it a very different asset than what most people think of it, according to crypto influencer Stack Hodler. In a tweet yesterday, Stack Hodler explained that 93 percent of Bitcoin’s total supply has already been issued in the first 14 years of its existence. During this time, new Bitcoins were flooding the market as rewards for miners. However, Stack Hodler argues that in the next 14 years and beyond, new issuance will slow to a trickle — estimated…

Coinbase Challenges SEC’s Regulatory Stance on Crypto, Regards It as ‘Insupportable’

Coinbase contends the SEC’s interpretation of what constitutes a security is dangerously broad and insupportable. In the exchange’s view, only assets conferring explicit financial rights or a stake in a business should be considered securities. The popular crypto exchange Coinbase Global Inc (NASDAQ: COIN) is locked in a major legal battle with the Securities and Exchange Commission (SEC) that could have far-reaching consequences for digital asset regulation. The central challenge is whether certain cryptocurrencies available on Coinbase’s platform should be regulated as securities. The SEC considers assets such as Bitcoin…

Bitcoin (BTC) Price Up 100% This Year; Safe Haven from Debt Spiral, Bond Rout and Geopolitical Tensions Helped Rally

“After 2022 tricked so many into thinking that digital assets are correlated to stocks and bonds, many are left scratching their heads at the ‘new’ old normal,” Jeff Dorman, chief investment officer at Arca pointed out. “A debt spiral leads to a loss of confidence in banks and governments and a repricing of risk-free rates amidst record supply, which is bad for bonds and equity valuation models, but good for alternative forms of wealth and money creation,” he added. Source

BlackRock iShares Bitcoin ETF Appeared on DTCC Website since August

A DTCC spokesperson confirmed that the IBTC ticker for the BlackRock iShares Bitcoin ETF has appeared since August through a unique ID code called CUSIP. Bitcoin has made a strong move moving to $35,000 earlier this week and clocking more than 20% gains on the weekly chart. This typically happened as the BlackRock iShares Bitcoin ETF ticker IBTC surfaced on the Depository Trust and Clearing Corporation’s (DTCC) website. Interestingly, one spokesperson from DTCC recently confirmed with CoinDesk that the appearance of the ticker is nothing new. Rather, it’s present on…

Matrixport doubles down on $45K Bitcoin year-end prediction

boss

Matrixport, a cryptocurrency trading firm founded by Bitmain co-founder Wu Jihan, has doubled down on its prediction that Bitcoin (BTC) will hit $45,000 by the end of 2023. After first setting its 2023-year-end BTC price target at $45,000 in early 2023, Matrixport reiterated its bold Bitcoin prediction in a blog post on Oct. 24. Titled “Bitcoin Targets $45,000 — FOMO Is Hitting the Market,” the blog post provides a brief analysis of Matrixport’s previous market forecasts, noting that the firm successfully predicted several market events. Matrixport specifically cited its “October…

Helsinki’s claim to crypto fame – Cointelegraph Magazine

This “Crypto City” guide looks at Finland’s crypto culture: The most notable projects and people, its financial infrastructure, which retailers accept crypto, and where you can find blockchain education courses. City: HelsinkiCountry: FinlandPopulation: 1.55 million Established: 1550Languages: Finnish and Swedish, with English widely spoken Jump to: Crypto Culture, Where to spend crypto in Helsinki, Crypto projects and companies, Local crypto controversies, Crypto education and community, Notable crypto figures from Helsinki Situated on the Gulf of Finland, Helsinki is the capital of Finland and is arguably the world’s most northern metropolis, with…

Visa (V) Stock Rises as Q4 2023 Earnings Results Exceed Analyst Expectations

Visa stock is up by about 23% over the past 12 months and only slightly down from July 2021’s all-time high of $252.67. Visa Inc (NYSE: V) stock rose 1.35% in Tuesday’s regular session following the release of the company’s earnings results for its fiscal Q4 2023 on Tuesday. The shares rose to $234.65, trading between the 50-day and 200-day lines. The payments giant’s earnings results late Tuesday exceeded analyst predictions for the quarter as transaction volume increased due to an increase in consumer spending as inflation cools. Visa’s net…