Category: Reviews

SEC, BlackRock, and Fidelity Iron Out Details for Potential Bitcoin ETF

As the SEC engages in detailed discussions with investment giants like BlackRock and Fidelity, the potential approval of a spot Bitcoin ETF seems to be moving closer to reality. The crypto market is abuzz following recent revelation that the Securities and Exchange Commission (SEC) engaged in discussions with major investment firms BlackRock Inc (NYSE: BLK) and Fidelity Investments, to iron out technical details for a potential spot Bitcoin Exchange-Traded Fund (ETF). Spot Bitcoin ETF and the Redemption Process Vivian Fang, a finance professor at Indiana University, noted that the SEC…

Consumer Price Index (CPI) for November 2023 Rises 3.1% Year-over-year

According to the latest CPI data published by United States Bureau of Labor Statistics, the surge in consumer prices was propelled by various factors. The shelter index, for instance, continued its upward trend, effectively offsetting a decline in the gasoline index. The energy index, witnessing a 2.3% decrease, was notably impacted by a significant 6.0% drop in the gasoline index, overshadowing increases in other energy component indexes. In terms of food, the index experienced a modest 0.2% increase in November, following a 0.3% rise in October. The new CPI data…

Cathie Wood’s Ark Invest Offloads Massive GBTC and Coinbase Shares, Eyes AI Push

While Cathie Wood has been aggressively selling off her investments in crypto firms, she’s making fresh bets in the AI space acquiring shares of top tech companies like Microsoft and Meta. Cathie Wood’s Ark Invest has been doing massive capital rotation by offloading its crypto investments and eyeing a push into AI. Ark Invest executed its most substantial sale in over a year by divesting approximately $12.85 million in Grayscale Bitcoin Trust (GBTC) shares from its Next Generation Internet (ARKW) exchange-traded fund (ETF) on Monday, December 11. This move resulted…

Active Addresses on Litecoin Network Reach Record High Four Months after LTC Halving

The number of daily transactions on the Litecoin network reached an all-time high of 1.09 million on November 14, surpassing even Bitcoin’s transaction count of around 523,284 at the same time. In a remarkable turn of events, the Litecoin (LTC) network has experienced an impressive surge in active addresses, achieving a new all-time high merely four months after the recent halving in August. As of December 8, 2023, blockchain data analytics company IntoTheBlock said the protocol had achieved a new milestone, with the number of active addresses on the Litecoin…

Circle: 51% of Consumers Latin America Use Digital Assets for Purchases

Latin America has identified that regulated, blockchain-based financial services will soon be the order of the day. The world of finance, as we have it today, has changed drastically, and stablecoins and tokenized data may be at the center of this change. So much so, that what used to be a difficult task for businesses and private individuals, especially in international payments and settlements, has now become significantly easier. For clarity, transactions worth over $7 trillion were settled globally using stablecoins in 2022 alone.  Showing even more potential this year,…

FTX Challenges IRS $24B Tax Claim, Citing Unsubstantiated Figures

FTX’s legal team noted in the filing that paying the $24 billion could impede the repayment of funds to the exchange victims. Lawyers representing the bankrupt cryptocurrency exchange FTX have contested the United States Internal Revenue Service (IRS) claim of $24 billion in unpaid taxes. The attorneys insist that the IRS must substantiate its demands, urging the tax agency to provide evidence supporting its assertion. In a recent filing with a Delaware bankruptcy court on November 10, the company refuted any liability to the IRS. The firm countered the tax…

El Salvador’s Bitcoin-Backed Volcano Bonds Get Regulatory Approval

By securing outside funding support through the pioneering Volcano Bonds, El Salvador can continue progressing with Bitcoin integration across governmental services and society. El Salvador has successfully overcome a significant regulatory hurdle as it pursues the introduction of Bitcoin-backed sovereign debt instruments, referred to as “volcano bonds”. The nation’s Digital Assets Commission has provided the necessary approvals for the bonds to proceed, marking a significant milestone in the path towards their issuance, now slated for 2024. Volcano Bonds The Volcano Bonds intend to help El Salvador decrease existing sovereign financing…

Immutable Integrates Transak for Seamless Transactions Web3 Games

The partnership between Immutable and Transak will grant all games built on the Immutable zkEVM access to Transak’s suite of products, enabling players to make seamless transactions across games and marketplaces. Web3 game development platform Immutable is set to integrate Transak into its gaming development infrastructure. The integration will make Transak the primary payment service provider for Immutable’s zero-knowledge Ethereum Virtual Machine (zkEVM). Transak will directly power fiat and Web3-based payments in gaming environments and will be integrated into Immutable Checkout and Immutable Passport. This is in line with Immutable’s…

FIFA and Modex Collaborate to Launch NFT Collection as 2023 Club World Cup Begins

The collection will include 100 NFTs and provide fans with the possibility to win 2026 World Cup Final tickets. FIFA is partnering with blockchain database provider Modex to launch a limited NFT collection series with real-world utility as the 2023 Club World Cup begins. The Club World Cup will start on 12 December in Jeddah, Saudi Arabia, and end on December 22. It will bring together the seven reigning champions from across the world. These are the champions of FIFA’s six confederations: Al Ahly (Africa), Auckland City (Oceania), Club Leon…

Senator Warren Rally for Stringent Crypto Regulation in New Bill

Senator Elizabeth Warren has been a vocal advocate for crypto regulation, consistently highlighting the risks posed by unchecked illegal activities. United States lawmakers, led by Democratic Senator Elizabeth Warren of Massachusetts, have announced an extended coalition of Senate support for the bipartisan Digital Asset Anti-Money Laundering (AML) Act in a new push for crypto regulation. Senator Warren’s Call to Action As highlighted in a press release, the Senators unveiled a new Bill that comes in response to warnings against crypto from the Treasury Department, Department of Justice (DOJ), and other…