Day: November 29, 2023

Business Titan Charlie Munger Dies at California Hospital Aged 99

Berkshire Hathaway acknowledged the notable contribution and announced that Charlie’s family would handle all the affairs pursuant to his instructions. Titan investor and billionaire Charlie Munger has died at the age of 99  according to an official report from Berkshire Hathaway Inc Cl B (NYSE: BRK.B) on Tuesday. The famed businessman, who was the vice chairman of the $797 billion valued company, passed away Tuesday morning at a California hospital. As a major shareholder of Berkshire Hathaway, Charlie’s death means a new era for the company although much attention will be…

SEC Stalls Decision on Franklin and Hashdex Bitcoin ETFs as Analysts Predict Wave of Approvals in January 2024

The update from the SEC appears to suggest that it plans to approve all Bitcoin exchange-traded funds (ETFs) at once. In a move that many may not have envisaged, the Securities and Exchange Commission (SEC) has provided an update on two Bitcoin ETF applications nearly a month before the scheduled deadline. In a Tuesday filing, the Commission, via separate orders, initiated proceedings to allow for additional analysis into the proposals of Franklin Templeton and Hashdex. This is to determine that they are fully compliant with the Securities Exchange Act and…

CF Benchmarks Introduces ETH Staking Reward Rate

According to the announcement, the inaugural CF ETH Staking Reward Rate will have four initial SSP contributors which include Kiln, Staked, Figment, and Blockdaemon. In response to the growing demand for a reliable and daily realized Ethereum (ETH) staking reward rate, CF Benchmarks has unveiled the CF ETH Staking Reward Rate (ETH_SRR). This marks the inaugural benchmark in the CF Staking Series, designed to provide a precise measure of the economic incentives associated with Ethereum as a Proof of Stake (PoS) blockchain. Understanding CF Benchmarks’ Ethereum Staking Incentives CF Benchmarks…

Amazon Unveils Q, Groundbreaking AI Chatbot Tailored for Businesses

To address concerns businesses raise regarding the security and privacy of AI assistants, Amazon said it had taken a proactive approach with Q. Amazon, one of the leading global e-commerce companies, has joined the artificial intelligence race with the launch of its AI chatbot, Amazon Q, designed to enhance work productivity for businesses. The company said that the name “Q” was derived from two iconic movie characters – one from the James Bond movies and the other from the Star Trek television shows – a creative touch that adds a…

Binance operating without license in Philippines, regulator says

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Cryptocurrency exchange Binance has been operating in the Philippines without the necessary approval or license, according to the local securities regulator. The Philippines Securities and Exchange Commission (SEC) issued a warning against Binance on Nov. 28, informing the public that the exchange is not authorized to sell or offer securities in the country. The announcement emphasized that an exchange like Binance must apply for registration and provide detailed information about offered securities before selling them to the public. Such detailed information includes the issuance price, the nature of securities and…

Interactive Brokers taps OSL for retail crypto trading in Hong Kong

International broker Interactive Brokers has partnered with OSL to offer retail customers crypto trading in Hong Kong. American trading giant Interactive Brokers has become the first securities broker in Hong Kong to be approved to allow retail customers to trade crypto. In an effort to expand its services in the city the brokerage giant selected OSL, Hong Kong’s public cryptocurrency company, to trade Bitcoin (BTC) and Ethereum (ETH), according to a blog announcement published by OSL on Nov. 28 2023. Under the partnership agreement, Interactive Brokers’ retail investors in Hong…

XRP Price Set For 20% Leap In Coming Days: Crypto Analyst

In a recent technical analysis published by crypto analyst Egrag, an inverse head and shoulders (H&S) formation has been identified on the XRP/USD chart, indicating a potential bullish reversal in the near term. The pattern, which has been forming over the last two weeks, suggests that XRP could be setting up for a significant price jump. XRP Price Poised For Imminent 20% Jump? The chart by Egrag showcases the XRP price action in a 4-hour time frame, where it has been trading within a descending channel (blue) since the beginning…

Analyst points to imminent signs of spot Bitcoin ETF approval

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Bloomberg analyst James Seyffart believes that the US Securities and Exchange Commission (SEC) could approve all applications for the instrument at once in Jan. 2024. In his opinion, this is indicated by the collection of opinions on the application to launch a spot Bitcoin ETF by Franklin Templeton and Hashdex, meaning that every applicant needs to be lined up for potential approval by the Jan. 10, 2024 deadline. The expert posted an update on the filing noting that while the SEC was very early on the Franklin case, in fact,…

Bitcoin mining firm Phoenix Group delays share listing

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Cryptocurrency mining firm Phoenix Group is preparing for its public trading launch after seeing a significant oversubscription during the pre-market sale on Nov. 21. Phoenix’s public trading launch will be delayed as the firm has revised the date for its forthcoming initial public offering (IPO) on the Abu Dhabi Securities Exchange (ADX). According to an announcement on Nov. 28, the crypto mining firm expects to list its shares on Dec. 5 instead of Dec. 4, 2023, due to public holidays declared for the United Arab Emirates National Day. Celebrated on…