Indonesia’s dynamic crypto market is a focus for politicians looking to use it to fuel the country’s economic growth. Source
Indonesia Vice Presidential Candidate Promises to Create 'Crypto Experts' as Election Looms
Day: December 19, 2023
DCG Cannot Reduce Ownership of Genesis Until Bankruptcy Proceedings Close, Judge Rules
The carryforwards can be used to decrease Genesis’ federal income tax liability in current and future years, the motion said, adding that could “translate into future tax savings that would enhance the Debtors’ cash position for the benefit of all parties in interest and contribute to a successful reorganization.” Source
What’s Helium Mobile And Why Is It Exploding To Over 800%?
Smaller cryptocurrencies are drawing greater attention from investors while larger well-known ones are taking a break following significant increases. One of the lesser-known altcoins is making some big noise: Helium Mobile (MOBILE) has surged by about 1,000% in the past seven days. Leading the way in the cryptocurrency market’s dynamic trend toward smaller-cap cryptocurrencies is Helium Mobile, whose price has surged by 32% to $0.0072 in the previous day. The altcoin’s trading volume has increased by almost 200% to $20 million, reflecting its recent spike. The market valuation of the…
Bitcoin (BTC) Nears $43,000 as Meme Coin Dreams on Solana, Avalanche Lead Altcoin Gains
“On the other hand, Tuesday’s peak is close to last Thursday’s, leaving Bitcoin inside the range. Average fees on the Bitcoin network topped $37, hitting a yearly high. The growth was fuelled by another wave of activity in the Ordinals segment, which increased demand for space in the blockchain, and thus increased BTC demand,” Kuptsikevich said. Source
7RCC applies for spot Bitcoin ETF with 20% allocated to carbon credit futures
A firm specializing in environmental investments, 7RCC, has applied to open a spot Bitcoin (BTC) ETF. 7RCC filed an application to the Securities and Exchange Commission (SEC) to create an ETF, centered around environmental, social, and governance (ESG) principles. 7RCC’s ETF aims to establish a carbon-neutral investment option in the cryptocurrency market, comprising 80% BTC and 20% carbon credit futures. Creating an ETF was initiated 18 months ago, awaiting the right market and regulatory conditions to submit the application. Cryptocurrency exchange Gemini will provide custody of the fund’s BTC, giving…
BlackRock Adapts Bitcoin ETF Proposal to SEC’s Preferences as Approval Nears
Many of the required revisions and adjustments are being carried out urgently by most companies, fueled by rumors that there may be a possible approval in January. BlackRock is making a strategic move in its plans for a bitcoin exchange-traded fund (ETF) by revising its approach to overcome regulatory obstacles. The asset management giant has updated its filing to feature cash redemptions instead of the previous in-kind model, where shares were converted directly to bitcoin. This change aligns with the preferences of the Securities and Exchange Commission (SEC), which has…
Revolut Halts UK Crypto Services Ahead of FCA Ads Rule Changes
With the new law set to take effect next year, Revolut has temporarily paused its crypto services to ensure compliance with these new requirements. Revolut, a prominent financial technology company providing online banking services, has temporarily suspended crypto services for customers in the United Kingdom. Starting January 3, 2024, digital asset traders in the region will no longer have access to Revolut’s business platform. However, it’s worth noting that an email notifying customers of this decision specifically addressed purchasing, leaving room for customers to continue selling and storing their crypto…
Blockchain adoption ‘accelerating very quickly’ in big finance — Franklin Templeton exec
Major financial firms like JPMorgan and HSBC have ramped up their blockchain-related activities heading into 2024, accelerating the adoption of distributed ledger technology (DLT) within traditional finance. On Nov. 3, JPMorgan executed its first decentralized finance (DeFi) trade on a public blockchain. The company rolled out programmable payments for its institutional blockchain platform, JPM Coin, on Nov. 10. Executives from JPMorgan and Apollo also unveiled plans for a tokenized enterprise mainnet on Nov. 28. Apart from JPMorgan, the Hong Kong and Shanghai Banking Corporation (HSBC) has also been on the…
BlackRock, ARK revise Bitcoin ETF plans along SEC’s cash-only model
Major applicants for a spot Bitcoin (BTC) exchange-traded fund (ETF) in the United States are amending their filings to comply with the cash redemption model demanded by securities regulators. Investment manager BlackRock and Cathie Wood’s ARK Invest have updated their S-1 registration statements for a spot Bitcoin ETF with the U.S. Securities and Exchange Commission (SEC). Filed on Dec. 18, the S-1 amendments relate to the cash creation and redemption model for proposed spot Bitcoin ETFs, with BlackRock and ARK accepting the cash redemption system rather than in-kind redemptions, which…
OpenAI launches ‘Preparedness team’ for AI safety, gives board final say
The artificial intelligence (AI) developer OpenAI has announced it will implement its “Preparedness Framework,” which includes creating a special team to evaluate and predict risks. On Dec. 18, the company released a blog post saying that its new “Preparedness team” will be the bridge that connects safety and policy teams working across OpenAI. It said these teams providing almost a checks-and-balances-type system will help protect against “catastrophic risks” that could be posed by increasingly powerful models. OpenAI said it would only deploy its technology if it’s deemed safe. The new…