Day: December 14, 2023

Bitwise’s Spot Bitcoin ETF Listed on DTCC Under BITB Ticker

DTCC data shows that the Wise Origin Bitcoin FD SHS is listed under the ticker BITB. Bitwise joins BlackRock, Invesco Galaxy, and Fidelity on the DTCC’s list.  Bitwise Asset Management has listed its spot Bitcoin exchange-traded fund (ETF) on the Depository Trust and Clearing Corporation (DTCC). This comes after Fidelity Investments listed its FBTC spot Bitcoin ETF on the DTCC’s active and prelaunch list last week. Bitwise’s move is evidence of the firm’s confidence that a spot Bitcoin ETF will be approved in the United  States soon. Chief Investment Officer…

Basel Committee suggests introducing maturity limits for stablecoin reserve assets

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The Basel Committee on Banking Supervision of the Bank for International Settlements (BIS) proposed several measures on targeted adjustment to its standard on banks’ exposure to cryptoassets. A consultative document was published on the BIS website on Dec. 14.  The document is the result of the review work conducted during 2023, which helped the committee formulate amendments to its original prudential standards for banks’ exposure to stablecoins, published in December 2022. Proposed changes relate primarily to the composition of the reserve assets of stablecoins, specifically for crypto assets, classified under…

Former Credit Suisse executive unveils crypto marketplace for banks

A former executive at Credit Suisse has rolled out a new crypto trading platform, targeting banks and securities firms only. David Riegelnig, who held several senior management positions at Credit Suisse until 2015, is now making a bet on cryptocurrencies with his new venture dubbed “Rulematch,” a crypto trading venue aimed at banks only. According to a report from Bloomberg, the Zurich-based trading firm is offering trading services with Bitcoin (BTC) and Ethereum (ETH) in most of the European Union, the U.K. and Singapore. It’s unclear if the firm plans…

Binance, crypto firms optimistic about UAE amid potential US regulatory shift

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Binance and other cryptocurrency firms based in the United Arab Emirates are optimistic that the country will remain a hotspot for virtual assets despite a potential shift to the United States should the Western superpower become a more crypto-friendly jurisdiction. The “regulation by enforcement” regime in the U.S. has pushed global crypto firms to move to locations such as the UAE, the United Kingdom, Switzerland and Singapore. However, the idea that companies could potentially return to the U.S. should there be a change in direction was floated during a panel…

Bitcoin Price Jumps to $43,000 as Fed Hints Three Rate Cuts in 2024

The Santa Claus rally in the crypto market is likely to continue with analysts expecting the Bitcoin price to touch $48,000 during pre-spot ETF approval. Bitcoin and the broader cryptocurrency market are experiencing a state of euphoria after the FOMC meeting on Wednesday, December 13. The Bitcoin (BTC) price is up more than 5% in the last 12 hours advancing past $43,000 levels. At the same time, the altcoins have advanced even further. Ethereum (ETH) is up by 5% moving past the $2,250 level while Cardano (ADA) and Avalanche (AVAX)…

Solana Enjoys Better Pastures As SOL Blows Through $70

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SOL investors are enjoying this year’s festive season as Solana enters the $70 mark today, backed by extremely bullish market conditions. According to CoinGecko, the token is up 12% in the weekly timeframe, with the biggest jump in the monthly at 30%.  Investment manager VanEck also speculates that Solana will join the ETF race, following recent news that the US Securities and Exchange Commission will approve a spot Bitcoin exchange-traded fund, further bringing exposure to traditional investors.  A Not-So Far Off Possibility VanEck recently released a list of 15 predictions…

Rulematch, a Swiss Crypto Exchange for Banks, Goes Live With Spain’s BBVA Among Its Clients

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“The crypto spot market is really dominated by players which do not really fulfill the very high requirements of a regulated participant,” CEO David Riegelnig said in an interview. “Primarily, the mix of functions that so-called crypto exchanges typically do, which makes them much more of a broker than actual exchange, was what triggered us to start rolling out Rulematch.” Source

Ubisoft Unveils ‘Champions Tactics’ Ethereum NFTs, Announces Free Mint Date

The Champions Tactics game itself will launch on Oasys, a separate chain from that of the Warlords NFTs – Ethereum. Ubisoft’s first original blockchain game Champions Tactics: Grimoria Chronicles, is set to begin a free mint in a few days. According to a recent announcement, mint for the game’s “Warlords” will go live on December 18. However, a private mint, set for 6 am ET on the day, will come before the general mint which is slated to open by 2 pm ET the same Monday. It might be important…

Goldman Sachs Sees Three Straight Fed Rate Cuts in March, May, June in 2024

Goldman believes that the Fed could begin rate cuts from the first quarter of next year as inflation hopefully falls. Financial services giant Goldman Sachs Group Inc (NYSE: GS) has revised its call for Fed interest rate cuts for 2024. According to a report, the banking and investment management company has added a possible rate cut in Q1 2024 to its forecast, adding that the Fed could cut rates in March, May, and June next year. Goldman Sachs Forecasts Rate Cuts Goldman previously forecasted that the Fed would begin rate cuts in December.…

SEC Chair Gensler dodges question about spot Bitcoin ETF

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Securities and Exchange Commission (SEC) Chairman Gary Gensler refused to talk about cryptocurrency after a meeting on the U.S. Treasury market. Bloomberg reporter Kailey Leinz asked Gensler about the current status of various applications for spot Bitcoin (BTC) ETFs. Gensler did not want to talk about #Bitcoin or Crypto with @kaileyleinz today after their meeting where the SEC made changes to the treasury markets haha (admittedly he does have a point but Kailey focused on treasuries for 5 minutes before this question lol) pic.twitter.com/Ll9uCGJYEX — James Seyffart (@JSeyff) December 13,…