Month: November 2023

Bitcoin ETF will drive 165% BTC price gain in 2024 — Standard Chartered

Bitcoin (BTC) may hit $100,000 in one year’s time thanks to “earlier than expected” exchange-traded funds (ETF) launching, says Standard Chartered. In a research note issued on Nov. 28 quoted by sources including Business Insider, the banking giant doubled down on its bullish BTC price targets. Standard Chartered still expects six-figure BTC price Bitcoin is in line to trade at six figures by the end of 2024, the latest forecast from Standard Chartered concludes. Thanks to the United States potentially approving Bitcoin spot price ETFs, BTC/USD has the ability to…

Elon Musk Says F* Word to Those Trying to Blackmail X and Him

Elon Musk said that he will do whatever required to maintain for the free speech on the X platform. Elon Musk was brutally straightforward during his recent interview on Wednesday, November 29. During the 2023 DealBook Summit in New York on November 29 Elon Musk, owner of the micro-blogging platform X (formerly Twitter), criticized advertisers who abandoned the social media site due to antisemitic posts he had shared. Despite publicly endorsing content labeled as “antisemitic and racist hate” by the White House, Musk later apologized and deleted the tweet. When…

Court Approves Sale of Grayscale Assets Worth $873M Now

At the time FTX filed for bankruptcy, the total amount of customer assets misappropriated was about $8.7 billion. A Delaware bankruptcy court has granted FTX’s administrators permission to sell the defunct exchange’s trust assets. The approval comes about four weeks after the administrators filed a motion requesting the sale of the assets as part of their debt recovery efforts. FTX holds an estimated 32 million total shares in five Grayscale trusts and the Bitwise 10 Crypto Index Fund. Selling these will help creditors recover some more of their lost funds.…

SEC Chair Gary Gensler comments on prospects for spot Bitcoin ETF

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U.S. Securities and Exchange Commission (SEC) Chairman Gary Gensler said he is not ready to discuss approval of applications for spot Bitcoin (BTC) ETFs. Gensler, speaking on the sidelines of the Healthy Markets Association conference on Nov. 29, said he would not “pre-judge” the matter of Bitcoin spot ETFs. He did however note his concerns about the crypto industry as a whole: “This is a field that is rife with bad actors and rife with fraud and manipulation and money laundering.” Gary Gensler, SEC Chairman Gensler considers the process of…

Hong Kong Securities Trade Group Proposes Portal for ICOs

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Binance settlement ‘net positive’ for cryptocurrency industry — Mike Novogratz

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Binance’s $4.3 billion settlement with the United States Department of Justice (DOJ) is being hailed as a positive move for the company and the wider cryptocurrency industry, according to Galaxy Digital’s Mike Novogratz. In an interview with Bloomberg on Nov. 29, the CEO of the cryptocurrency investment firm expressed his belief that the high-profile settlement should assuage concerned investors and users of the global exchange: “I think they’re de-risked in lots of ways. People were worried about dealing with Binance. There’s a lot less to worry about now.” Novogratz also weighed in…

USTC Explodes 335% – What’s Pushing The Price Up?

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USTC experienced an impressive surge this week, propelled by two key catalysts: a newly introduced Binance perpetuals contract listing and the unveiling of a bitcoin-focused makeover along with an enticing airdrop initiative. Notably, TerraClassicUSD’s value has nearly quadrupled within this period. It’s essential to contextualize this surge, however, as even with the substantial rally, the price of USTC has reached only $0.05, a stark contrast to its initial pegged value of $1. USTC Meteoric Rise: Navigating The Volatility Of The Crypto The developments surrounding USTC underscore the dynamic and evolving…

BlackRock modifies proposed spot Bitcoin ETF to meet SEC requirements

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BlackRock, the world’s largest asset manager, has recently updated its application for a spot Bitcoin Exchange-Traded Fund (ETF) in a bid to address the U.S. Securities and Exchange Commission’s (SEC) concerns. The revisions, detailed in the meeting minutes from a Nov. 28, 2023, discussion with the SEC’s Division of Trading and Markets, focus on mitigating issues related to market manipulation and broker-dealer registrations. BlackRock’s updated redemption model In its revised proposal, BlackRock introduces a “prepaid model” within the existing in-kind redemption framework. This model requires the offshore market maker to…