Day: December 7, 2023

Grayscale Investments CEO hints at optimistic scenario for spot Bitcoin ETF

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Grayscale Investments CEO Michael Sonnenshein believes that market participants’ negotiations with the U.S. Securities and Exchange Commission (SEC) about launching a spot Bitcoin (BTC) ETF in the United States are proceeding according to an optimistic scenario. The CEO shared this opinion with Yahoo Finance reporters and noted that SEC commissioners are working to clarify details on applications from market participants to launch a spot Bitcoin ETF. Such actions of the Commission, in his Sonnenshein’s opinion, indicate the regulator’s interest in resolving issues related to the possible launch of the instrument…

This BRC-20 Token Just Breached $1 Billion Market Cap

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The BRC-20 token ORDI, which is based on Bitcoin, surged by 181% today amid a wider cryptocurrency upswing and a recent rise in activity surrounding the Ordinals protocol. According to the most recent data, the token’s trade volume has increased by more than 900% during the last 30 days. The ORDI coin has experienced a downward trend since its entry onto the market. It began trading at around $10 in June of this year and gradually dropped back to slightly less than $3 by mid-September. Strong Performance: The BRC-20 Token…

Vivek slams Gary Gensler and ‘three-letter agencies’ during pres debate

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Presidential hopeful Vivek Ramaswamy came down hard on SEC chair Gary Gensler and other “three letter agencies” during the recent Republican presidential debate, claiming that regulators had failed to keep up with crypto. During the 4th Republican presidential debate of the 2024 cycle on Dec. 7, Ramaswamy said it was “nothing short of embarrassing” that Gensler couldn’t admit before Congress that Ethereum’s native currency Ether (ETH), should be viewed as a commodity. @VivekGRamaswamy and @RonDeSantis talk crypto in the GOP primary debate pic.twitter.com/mQEPAmhfT5 — Taylor Barr (@taylorjbarr) December 7, 2023…

SEC postpones decision on Grayscale’s application for spot Ethereum ETF

The U.S. Securities and Exchange Commission (SEC) has delayed the decision date for Grayscale Investments’ spot Ethereum ETF by 45 days, to Jan. 25, 2024. According to the document, Commission may designate if it finds such longer period to be appropriate and publishes its reasons for so finding or as to which the self-regulatory organization consents. “The Commission finds it appropriate to designate a longer period within which to take action on the proposed rule change so that it has sufficient time to consider the proposed rule change and the issues…

CEO Trashes Crypto – Again

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In a fiery declaration that reverberated through the financial landscape, JPMorgan Chase’s formidable CEO, Jamie Dimon, once again launched a verbal assault on crypto. Dimon, well-known for speaking his mind, straightforwardly called for a complete ban on digital currencies, linking them to criminal activities without holding back. The CEO didn’t mince words at a Senate hearing alongside seven other big bank bosses: “If I was the government, I’d close it down.” In response to a question from Senator Elizabeth Warren, he stated that he was adamantly against all forms of…

Bitcoin’s huge rally has nuked $6B in shorts this year: S3 Partners

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Crypto industry short sellers have lost at least $6 billion trying to bet against publicly-traded crypto firms this year, due largely to Bitcoin’s (BTC) outsized rally since Jan. 1. According to a Dec. 5 report from research firm S3 partners, traders who bet against publicly traded crypto firms such as Coinbase, MicroStrategy, and Marathon Digital are now nursing $6.05 billion in on-paper losses. The bulk of the losses for short sellers have been concentrated in the last three months. After Bitcoin fell to a quarterly low of $25,133 on Sept.…

BEAM slides into top gainers list with 33% spike to new ATH

Beam (BEAM), a privacy-focused confidential blockchain protocol, has broken into the top gainers list among the 100 largest assets following a recent surge to a new all-time high of $0.01635. The BEAM token, currently serving as the gas and governance token on the Beam network, was launched in October on the back of a token migration event that saw the Beam ecosystem pivot from the Merit Circle (MC) token. BEAM price – Dec. 6 | Source: Santiment Since its launch two months back, BEAM has embarked on an extensive rally,…

Crypto is for criminals? JPMorgan has been fined $39B and has its own token

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JPMorgan CEO Jamie Dimon is being hauled over the hot coals on crypto X (Twitter) after claiming Bitcoin (BTC) and cryptocurrency’s “only true use case” is to facilitate crime. “The only true use case for it is criminals, drug traffickers, money laundering, tax avoidance,” Dimon said in a hearing before the United States Banking Committee on Dec. 5. “If I were the government, I’d close it down.” But crypto pundits quickly pointed out the seeming hypocrisy in Dimon’s statements, highlighting that JPMorgan is the second largest penalized bank, having paid…

Bitcoin Core developer calls Ordinals ‘fraud,’ announces fix

With a new set of upgrades, Bitcoin Core developer Luke Dashjr hopes to put an end to BRC-20 tokens as well as Bitcoin-based NFTs. The Bitcoin (BTC) network is about to undergo a set of upgrades, which are expected to essentially put an end to BRC-20 tokens as well as non-fungible tokens (NFTs) known as Bitcoin Ordinals minted on the network. In an X post on Dec. 6, 2023, Bitcoin Core developer Luke Dashjr said that a loophole in the Bitcoin blockchain made it possible for users “to spam the…