One bull said bitcoin is “more valuable than gold” and will become a $15 trillion asset. Original
Bitcoin Gains Spark Bullish Call of ‘$15T Asset;’ BTC Forks Jump
Tag: Call
US lawmakers call on SEC chair to approve spot Bitcoin ETFs ‘immediately’
Four members of the United States Congress are requesting Securities and Exchange Commission (SEC) chair Gary Gensler “immediately” approve the listing of spot Bitcoin (BTC) exchange-traded funds, or ETFs. In a Sept. 26 letter to Gensler, U.S. Representatives Mike Flood, Wiley Nickel, Tom Emmer and Ritchie Torres claimed the SEC was “discriminat[ing] against spot bitcoin exchange traded products”, citing the legal precedent set by Grayscale Investments in winning a review of its own ETF offering. The four lawmakers told Gensler there was “no reason to continue to deny” spot crypto…
Crypto Whale Trades $150M in Ether (ETH) Call Options, Data Tracker Greeks.Live Shows
The large flow was concentrated in the so-called out-of-the-money (OTM) calls at strike levels well above ether’s current market price of $1,633. Whales blocked over 40,000 contracts of ETH December expiry call at $2,200 and nearly 50,000 contracts of October expiry call at $2,000. A block trade is a large transaction negotiated over-the-counter of outside of the exchange’s order book to ensure minimum impact on the market price of the asset. Block traders are considered a proxy for institutional activity. Source
UK lawmakers call for global alliance to tackle misuse of AI
UK lawmakers wish to unite global efforts to safeguard the masses against bad actors who misuse artificial intelligence, or AI. The UK’s House of Commons issued a report acknowledging the potential benefits of AI, such as enhanced productivity and innovative consumer products. However, regulators also highlight the challenges associated with the burgeoning tech, including privacy issues. The AI industry is evolving rapidly, particularly with the emergence of large language models like ChatGPT. These models have transformed AI into a versatile and ubiquitous technology. The report notes that the rapid development…
UK MPs call for global alliance to tackle AI misuse
A group of influential members of parliament (MPs) in the United Kingdom have advised the government to collaborate with democratic allies to address the potential misuse of artificial intelligence (AI), emphasizing London’s aim to be a key player in advancing the emerging technology. The Science, Innovation and Technology Committee (SITC), an advisory body to the government, recommends in a report published on Thursday, Aug. 31, that Britain align with similar nations sharing democratic values. This collaboration aims to collectively safeguard against actors, whether state-affiliated or not, who seek to misuse…
Genesis lenders call DCG agreement ‘wholly insufficient’
The lenders of the bankrupt cryptocurrency lender Genesis are not satisfied with the latest in-principle settlement agreement with other parties including the Digital Currency Group (DCG). The Ad Hoc Group of Genesis Global Capital (GGC) lenders — represented by lawyers Brian Rosen and Jordan Sazant — on Aug. 29 responded to a public bankruptcy plan update, calling the reached in-principle agreement “wholly insufficient.” Posted hours before, the public update said that DCG reached an agreement in principle with Genesis’ unsecured creditors (UCC) and debtors, proposing USD equivalent recoveries of 70%–90%.…
British MPs call on government to scrap AI exemptions that hurt artists
A British parliamentary committee is pressuring the government to axe plans that would allow artificial intelligence developers to freely train their systems on existing works of music, literature and art. In an Aug. 30 report, the Culture, Media and Sport Committee warned the government’s original plan to exempt text and data mining by AI from copyright protections “risks reducing arts and cultural production to mere ‘inputs’ in AI development,” and shows a “clear lack of understanding” for the needs of the United Kingdom’s creators. The report claimed the U.K. government…
Matrixport Advices Bitcoin (BTC) Bulls to Jump to Call Options Amid Low Volaitlity
“Predictably, the crypto market has become very quiet during these summer weeks. This has caused trading volumes and volatility to fall markedly. Investors might be well advised to replace their bitcoin spot with Bitcoin options, notably upside calls, as lower volatility has made option prices cheaper,” Markus Thielen, head of research and strategy at crypto service provider Matrixport, said. Original
TD Cowen analyst just made a risky buy call on a bitcoin play
Investors looking for ways to bet on crypto should look closer at a software company with a unique balance sheet, according to TD Cowen. Analyst Lance Vitanza initiated coverage of MicroStrategy at outperform, saying in a note to clients on Wednesday that the stock was the “best way for institutions to acquire exposure to bitcoin.” “MSTR is a leading provider of [business intelligence] software, but with a twist: it uses all its retained earnings – and then some – to buy and hold bitcoins. This is not a short-term trading…
UK government rejects lawmaker’s call to treat crypto like gambling
The United Kingdom government has rejected a proposal made by the House of Commons Treasury Committee to regulate crypto retail trading in the same way it oversees gambling, highlighting that it “firmly disagrees” with the committee’s stance. A panel of British lawmakers called for regulating the U.K. crypto market similar to gambling in a May 17 committee report. The Treasury Committee said that crypto investment activity is consistent with the principle of “same risk, same regulatory outcome.” In a July 20 response to the committee, U.K. Economic Secretary to the Treasury Andrew Griffith…