Day: November 29, 2023

Pando Asset officially files for spot Bitcoin ETF with the SEC

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Swiss asset manager Pando Asset seeks SEC approval for a spot Bitcoin ETF, a step towards integrating crypto into mainstream finance. Swiss asset manager Pando Asset has filed for approval of a spot Bitcoin ETF with the U.S. Securities and Exchange Commission (SEC). The proposed Pando Asset Spot Bitcoin Trust, if approved, would be listed on the Cboe BZX Exchange, leveraging Coinbase as its custodian. The trust plans to use the CME’s CF Bitcoin Reference Rate for Bitcoin (BTC) pricing. Pando’s move aligns with its current offerings in Europe, where…

Cross-Chain Protocol Wormhole Secures $225M in Funding, Now Valued at $2.5B

The investment round was accompanied by the launch of Wormhole Labs, an independent technology company “emerging from stealth to become a core contributor to Wormhole.” Wormhole, a blockchain protocol designed to address the interoperability challenges of pioneer blockchain networks such as Bitcoin and Ethereum, has secured $225 million in funding, propelling the company’s total valuation to a new high of $2.5 billion. According to an official announcement on Wednesday, the cross-chain protocol revealed that notable investors, including Jump Trading, Brevan Howard, Coinbase Ventures, Multicoin Capital, ParaFi, Dialectic, Borderless Capital, and…

Analyst Highlights What Happens If Bulls Fail

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Bitcoin has currently entered a stage where the bulls and the bears are vying for absolute control over the price, meaning that it could swing either way. While sentiment is still mostly bullish from here, there is still the possibility that the bears could win out and this side of the coin has prompted crypto analyst FieryTrading to map out what could happen if this ends up being the case. Identifying The Bearish Side Of Bitcoin In the analysis, FieryTrading identified an indicator that might point toward a bearish reversal…

Estonian court nixes extradition of accused crypto scammers to US

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Ivan Turogin and Sergei Potapenko, co-founders of Bitcoin cloud miner HashFlare, have successfully appealed their extradition from Estonia to the United States, where the two face 18 counts of fraud and money laundering. The Tallinn Circuit Court overturned a lower court’s order on Nov. 29, according to a local press report. According to the United States Justice Department, HashFlare, which operated from 2015 to 2019, was a Ponzi scheme with hundreds of thousands of victims paying in a total of $575 million. The company claimed to lease hashing power for…

US deputy treasury secretary calls for additional tools to sanction crypto firms

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Wally Adeyemo, deputy secretary of the United States Treasury Department, said his department is looking into new sanctions tools to pursue bad actors in the crypto space, citing a recent settlement with Binance. In prepared remarks for the Blockchain Association’s Policy Summit on Nov. 29, Adeyemo said the U.S. Treasury had called on Congress to allow sanctions in which an entity could be fully cut off from the U.S. financial system. The deputy treasury secretary said the move aimed to stop actors such as Hamas from “find[ing] safe haven within…

$19.5 Million XRP Shifted To Exchange, Massive Sell Off On The Horizon?

Whale Alert, a renowned blockchain tracker, reported a substantial transfer of XRP tokens to the Bithumb crypto exchange. This transfer, involving over 32 million XRP tokens valued at roughly $19.5 million, originated from an unidentified wallet and was executed today at 05:15:10 UTC. The substantial nature of this transaction places it firmly in the category of ‘whale transactions,’ which are often scrutinized due to their potential influence on market dynamics. In the crypto space, such significant transfers are typically indicative of strategic moves by influential players within the market. While…

Square Enix auction dates, Azuki DAO rebrands to Bean: Nifty Newsletter

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In this week’s newsletter, read about footballer Cristiano Ronaldo facing a lawsuit after promoting nonfungible tokens (NFTs) tied to crypto exchange Binance, and find out how an NFT collector thwarted a hacking attempt by a person impersonating a journalist. In other news, Azuki DAO is rebranding to Bean, game developer Square Enix announces an NFT collection, and one user claimed tokens worth $11 million in the recent Blur airdrop.  Cristiano Ronaldo sued for promoting Binance, unregistered securities Football superstar Cristiano Ronaldo faces a class-action lawsuit for allegedly participating in the…

U.S. Treasury Campaigning for Amplified Powers to Chase Crypto, Tether (USDT) Overseas

Lawmakers should also beef up the department’s powers under the Bank Secrecy Act (BSA), allowing for the “targeting of cryptocurrency entities and services that facilitate funding for terrorists,” the proposal said. It calls for a new category of financial institutions under the BSA that would include “cryptocurrency exchanges, Virtual Asset Service Providers (VASPs), virtual asset wallet providers, certain blockchain validator nodes and decentralized finance services,” requiring them to meet certain anti-money-laundering demands. Source

Bitcoin Ordinals marketplace Bioniq launches on ICP

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Bioniq, a new marketplace for Bitcoin Ordinals, introduces a distinctive approach by operating on the Internet Computer (ICP) blockchain. The introduction of Bioniq, a Bitcoin Ordinals marketplace, marks a notable development in the evolving landscape of cryptocurrency. Distinctively, Bioniq operates on the Internet Computer (ICP) blockchain, a platform developed by Dfinity, rather than directly on Bitcoin. This approach positions ICP as a type of layer-2 network for Bitcoin, a significant deviation from traditional practices in this space. Hello world! We’re an experienced team of Web3 developers bringing you the worlds…

‘A Politician Masquerading as a Regulator’ – 3 Takeaways From Gary Gensler’s Fortune Profile

This week, Fortune Magazine took a deep look at Gary’s time at the SEC and put meat on what many of us already know in outline. It’s a great piece based on interviews with “more than 30 financial experts, politicians, and current and former employees from all levels at the SEC and Commodity Futures Trading Commission, including agency leaders,” and you should read it. But, in case you don’t have time, we’ll summarize a few of the takeaways here, especially as they relate to crypto. Source