Day: February 5, 2024

South Korea eyes US SEC’s approach to spot Bitcoin ETFs for regulatory insight

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South Korea’s Financial Supervisory Service (FSS), the nation’s primary financial regulator, is setting its sights on the United States for guidance on the intricacies of spot Bitcoin exchange-traded funds (ETFs).  With a mission to oversee financial institutions, the FSS operates under the larger umbrella of the Financial Services Commission. In a significant move, FSS chief Lee Bok-Hyun announced a detailed business strategy for the coming year during an event in Seoul on Feb. 5, highlighting plans for engagements with major financial markets, notably New York, to further discussions on the…

Bitcoin hash rate rising, Dogecoin rival trending

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Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only. The Bitcoin hash rate is above 500 EH/s, pointing to increased security and confidence. Bitcoin’s hash rate boom Understanding hash rate is essential for those dealing with cryptocurrencies.  It measures the number of calculations the network can perform per second, which helps prevent attacks on Bitcoin.  Rising hash rate means more miners are interested, making the network even more robust.  Analysts, like Yassine Elmandjra from ARK Invest, are impressed…

LPL Financial to evaluate spot Bitcoin ETFs ‘three months’ before joining the market

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LPL Financial, the largest U.S. independent broker-dealer, takes a measured approach, conducting a three-month evaluation before entering the spot Bitcoin ETF market. The San Diego-headquartered broker-dealer is planning a thorough three-month evaluation before deciding to join the spot Bitcoin exchange-traded fund (ETF) market, citing concerns that some of the ETFs might eventually shut down, causing problems for advisers. In an interview with Bloomberg, Rob Pettman, executive vice president of products and platform management at LPL Financial, said that the $1.4 trillion investment giant wants first to see “how they work…

Nearly 70% Of Shiba Inu Investors Underwater

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Shiba Inu (SHIB), often touted as the “Dogecoin killer,” finds itself at a critical juncture as it grapples with a recent downturn, inviting scrutiny into its stability and future prospects. Shibarium Surge Sparks Investor Optimism, Concerns Linger Despite some investors maintaining an optimistic outlook, buoyed by recent developments such as the surge in Shibarium, others harbor reservations about the token’s performance and distribution dynamics. The red signals flashing for SHIB investors are hard to ignore. A recent analysis by IntoTheBlock reveals that a substantial 67% of investors currently find themselves…

BlackRock and Fidelity’s Bitcoin ETFs break into top 10 with $4.8b January inflow

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BlackRock and Fidelity’s spot Bitcoin ETFs have entered the top 10 ETFs with the highest inflows in January, amassing around $4.8 billion. The iShares Bitcoin Trust by BlackRock secured eighth place with an impressive $2.6 billion in net flows, closely followed by the Fidelity Wise Origin Bitcoin ETF, which captured tenth place with $2.2 billion, according to a Feb. 3 report from Morningstar research analyst Lan Anh Tran. This influx contrasts sharply with the Grayscale Bitcoin Trust, which experienced the second-highest outflows among ETFs, losing an estimated $5.7 billion. Nate…

Merlin Chain Secures Funding to Empower “Bitcoin-native” Innovations – Blockchain News, Opinion, TV and Jobs

New York, United States, February 5th, 2024, Chainwire Merlin Chain, the native Bitcoin Layer2, announced a round of funding from 24 investors including OKX Ventures, ABCDE, Foresight Ventures and Arkstream Capital. Merlin Chain offers a native scaling solution that integrates ZK-Rollup network, decentralized oracle network, and on-chain BTC fraud-proof modules. It is committed to empowering Bitcoin’s native assets, protocols, and products on Layer1, to Make Bitcoin Fun Again. Merlin Chain is built by Bitmap Tech, a premier OG team boasting an overall market cap exceeding $500 million. The BRC-420 “Blue…

El Salvador votes for continuity and crypto under Bukele’s leadership

Nayib Bukele, celebrated for his pro-bitcoin stance and aggressive crime-fighting policies, is poised to secure a second term as El Salvador’s president, with exit polls showing his “Nueva Ideas” party commanding an 87% lead in the recent elections. The remarkable margin suggests Bukele could continue to lead until 2029, highlighting the electorate’s strong approval of his governance. #ElSalvador | Resultados preliminares con base en boca de urna, arrojan que tal como se previó en las encuestas, @nayibBukele tendría la ventaja en los comicios presidenciales con un porcentaje superior al 87%…

Why Is Bitcoin Price Not Going Up Despite The ETFs? Expert

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In a recent analysis, Fred Krueger, the former founder and chairman of Traffic Marketplace, offered a nuanced explanation for the seemingly paradoxical situation where the Bitcoin price has fallen despite the influx of over $5 billion in new assets through Exchange-Traded Funds (ETFs) by BlackRock and Fidelity. Since January 11, the first trading day of the ten spot ETFs, the Bitcoin price has currently plunged by 13% (over 21% at times). Why Is Bitcoin Price Not Going Up? Krueger’s insights, shared via X (formerly Twitter), delve into the complex dynamics…

Bitcoin halving will impact Kangamoon, Ethereum, and Optimism

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Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only. In 2024, Bitcoin halving will happen. This event will likely impact altcoins like Kangamoon (KANG), Ethereum (ETH), and Optimism (OP).  Ethereum is evolving In the coming years, Ethereum will continue to upgrade.  As it is, more institutions are adopting Ethereum, which has led to an increase in its total value locked and transition to a deflationary asset.  Despite potential challenges, experts are bullish.  ETH is steady, with supporters bullish…