Day: June 27, 2024

Next Government Must Act Fast to Retain Global Lead

Prior to the election announcement, the industry had grown accustomed to a government that, as of late, generally understood and supported crypto. In 2022, John Glen, the Economic Secretary to the Treasury (also known as the City Minister) pledged to make the U.K. a global hub for crypto-asset technologies. This vow was repeated by his successors Andrew Griffith in 2023 and, most recently, Bim Afolami, who has urged regulators to take care in policing the crypto industry to make sure its success isn’t “undermined.” Broad powers were introduced in the…

Steady Above $60K: Bitcoin Weathers Government Sell-Offs, Says QCP Capital

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Despite a brief dip below $60,000 on June 23, bitcoin has demonstrated formidable resilience by closing above this pivotal level for 118 days in 2024. According to QCP Capital, the cryptocurrency continues to hold strong against various market pressures, including substantial governmental sell-offs. QCP Capital Foresees Bitcoin Holding $60K Line, Despite Recent Market Pressures In […] Original

Bitcoin Battling Bearish Headwinds: Is The Sell-Off Over?

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Bitcoin is struggling to shake off weakness, judging by its performance in the last few trading days. After the dump on June 24, the overall sentiment has been bearish, and sellers will likely double down, wiping gains posted in the last two days. As things stand, the sale of 4,000 BTC by the United States government is a dent for buyers. It comes hours after the German government dumped thousands of BTC early this week, forcing prices to lower. Bitcoin Trending At Oversold Territory One analyst is upbeat even amid…

CleanSpark acquiring GRIID Infrastructure in $155 Million all-stock deal

CleanSpark Inc. (CLSK) has announced a merger agreement to acquire GRIID Infrastructure in an all-stock transaction valued at $155 million.  This acquisition includes the payment and assumption of GRIID’s (GRDI) debt. As part of the agreement, CleanSpark and GRIID have entered into an exclusive hosting agreement, allocating 20 MW of power to CleanSpark immediately. The merger received unanimous approval from the Boards of Directors of both companies. It is anticipated to be finalized in the third quarter of 2024, subject to GRIID shareholder approval and other standard conditions. Agreement terms…

U.S. Supreme Court Says No More In-House Tribunals for the SEC, Other Federal Regulators

“The Court tells Congress how best to structure agencies, vindicate harms to the public at large, and even provide for the enforcement of rights created for the Government,” Sotomayor wrote. “There are good reasons for Congress to set up a scheme like the SEC’s. It may yield important benefits over jury trials in federal court, such as greater efficiency and expertise, transparency and reasoned decisionmaking, as well as uniformity, predictability, and greater political accountability.” Source

The Prize for Owning Web3 Distribution Is Enormous. Here’s Why It Won’t Go to Big Tech

Telegram’s strategic pivot allows its app developers to align their revenue models with the long-term growth of the Web3 ecosystem. By providing critical distribution, a wallet, infrastructure and support services, they can continue to generate substantial revenue while contributing to the broader goal of a decentralized internet. This symbiotic relationship benefits both the TON blockchain and Telegram, creating a more sustainable and inclusive digital economy. Telegram has always been on the fringe of Big Tech, successfully scaling a user-focused messaging app amidst heavy competition and following an unorthodox playbook: no…

DePIN Is the Sharing Economy 2.0

The fragmentation and complexity of the ecosystem, with projects involving various aspects such as blockchain, hardware, and infrastructure, keeping track of all developments and opportunities can be complex. To profit from DePIN, it’s necessary to understand the use-case, the hardware, and the tokenomics of a project. This is the supply side. For the demand side to truly and sustainably take off, there’s a lot of translation that we, as an industry, need to do to integrate with the real-world economy. This work is essential to onboard the next millions to…

Every DePIN Has a Story

In 1987, I sat outside the Medco Center in Springfield, Kentucky, with my grandfather, Bob Burns, a blind ex-industrial laundry worker from Boston. At 80, Bob spent many of his final days at Medco Center, seated in a folding chair and following the sun like a human sundial. One day, he showed me a remarkable watch that, with the press of a button, would speak the current time – a fascinating device for a seven-year-old. This moment marked the beginning of my curiosity of how technology could change everyday life,…

Insights on the Upcoming Spot Ether ETFs

So-called 19b-4 documents are filed by exchanges (e.g., the New York Stock Exchange or NASDAQ) to inform the SEC of a proposed rule change. These filings are required to list a new type of ETF. Issuers were asked to amend their 19b-4s around May 20, during which most of the issuers removed provisions for staking. The SEC approved amended versions of these from eight issuers – VanEck, 21Shares, Grayscale, Fidelity, Invesco, iShares, Franklin and Bitwise – soon afterward, on May 23. (Later, ProShares also threw their hat into the ring.)…