Day: November 9, 2023

U.S. policymakers introduce bill targeting China’s digital yuan

Senator Rick Scott introduced a prohibition act seeking to bar U.S. financial service operators from interacting with China’s central bank digital currency (CBDC). The so-called Chinese CBDC Prohibition Act would ban U.S. post offices, remittance firms, peer-to-peer crowdfunding platforming and all money services businesses from facilitating any transaction that involves China’s digital yuan. Senators Marsha Blackburn of Tennessee and Ted Cruz of Texas backed the act with their support, stressing that this legislation was crucial to keeping American financial data safe. We should do everything in our power to ensure…

Ethereum price hits 6-month high amid BlackRock spot ETF buzz, but where’s the retail demand?

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Ether (ETH) experienced a surprising 8% rally on Nov. 9, breaking the $2,000 barrier and achieving its highest price level in six months. This surge, triggered by news of BlackRock registering the iShares Ethereum Trust in Delaware, resulted in $48 million worth of liquidations in ETH short futures. The initial announcement was made by @SummersThings on a social network, later confirmed by Bloomberg ETF analysts. The iShares Ethereum Trust has just been registered in Delaware. For context, BlackRock’s iShares Bitcoin Trust was registered in a similar manner 7 days before…

Top 5 Meme Coins That Are Outperforming The Altcoin Rally

The altcoin market rally has been the talk of the crypto community lately and it has been with good reason. Amid this rapid rise of cryptocurrencies across the board, meme coins have been doing well. But just like any asset class, there are some that have performed better than others. CorgiAI (CORGIAI) Leads Meme Coins Gains CorgiAI (CORGIAI) is an interesting take on the Dog meme coins. But instead of using the widely popular Shiba Inu breed, the project chose the Corgi breed for their purposes and this seems to…

BlackRock’s spot Ethereum ETF plan is confirmed after Nasdaq filing

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Blackrock’s plans for a spot Ethereum exchange-traded fund (ETF) has now been confirmed, per a 19b-4 form filing submitted to the United States Securities and Exhange Commission on Nov. 9. Nasdaq filed the 19b-4 form to securities regulator on behalf of the $9 trillion asset management firm for a proposed ETF called the “iShares Ethereum Trust.” The move signals BlackRock’s intention to expand beyond Bitcoin with its ETF aspirations. NASDAQ’s 19b-4 filing to the SEC for BlackRock’s iShares Ethereum Trust. Source: NASDAQ Earlier on Nov. 9, it emerged that BlackRock…

Ethereum Insider To Expose ETH Founders’ Fraud In Weeks

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Ethereum insider, Steven Nerayoff has vowed to expose alleged fraud schemes which he claims are operating within the Ethereum network. As a result, the crypto community is keeping a close watch and Neyaroff has promised to reveal proof of his accusations in the coming weeks.  Unmasking The “Truth” Former Ethereum Advisor, Steven Nerayoff has announced his intentions to unveil evidence regarding the recent allegations he made against Ethereum Founders, Vitalik Buterin and Joseph Lubin in a few weeks. Nerayoff stated that his legal team is working towards ensuring all information…

Lightspeed Faction launches $285M startup fund for crypto projects

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Venture capital firm Lightspeed Faction has created a $285 million fund for crypto startups, according to a Nov. 9 announcement. The fund will focus on “early stage blockchain projects” and will also provide capital as these projects scale, the announcement stated. At Faction, no entrepreneur will ever have to answer: “why crypto?” We are fully red-pilled. We’re coming out of stealth & announcing the launch of Lightspeed Faction Fund I, a $285M early-stage venture fund dedicated exclusively to crypto https://t.co/oUiAh6t5Sp — Faction (@FactionVC) November 9, 2023 Lightspeed Faction said it…

Celsius to exit bankruptcy and restart as creditor-run Bitcoin miner

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Celsius Network is revamping into a Bitcoin mining company, promising customer repayments and an exit from bankruptcy.  Cryptocurrency lending platform Celsius Network has secured court approval to transition into a Bitcoin mining company owned by its creditors. This development is part of a comprehensive strategy to compensate account holders whose funds have been inaccessible for over a year. The confirmation of this strategy was announced by U.S. Bankruptcy Court in the Southern District of New York on Thursday. The approval signals a turning point for the company following its financial…

BlackRock’s (BLK) Ether (ETH) ETF Plan Is Confirmed in Nasdaq Filing

“Either CME surveillance can detect spot-market fraud that affects both futures ETFs and spot exchange-traded products, or that surveillance cannot do so for either type of product,” the filing said. “Having approved ETH futures ETFs in part on the basis of such surveillance, the Commission has clearly determined that CME surveillance can detect spot-market fraud that would affect spot ETPs, and the Sponsor thus believes that it must also approve spot ETH ETPs on that basis.” Source

The Trading Tools Institutions Need to Enter DeFi

The necessary technology is falling into place, and the industry has the right intentions — and so, hopeful, an influx of capital will soon follow. However, this time we must ensure is that DeFi’s growth remains sustainable, and this can only happen if it stays on the right side of the law and if institutions meet the obligations of their stakeholders. Source