Tag: Pegs

Bitwise expert pegs 50/50 chance for Ethereum ETF nod, eyes $88k Bitcoin peak by 2024

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A Bitwise researcher, Ryan Rasmussen, has indicated a balanced perspective on the potential approval of spot Ethereum Exchange-Traded Funds (ETFs) in the upcoming months, assigning a 50% probability to both possible outcomes. During an interview with Yahoo Finance on Feb. 26, Rasmussen expressed uncertainty regarding the market’s readiness for such a development, as per the Securities and Exchange Commission’s (SEC) preferences. “It’s about a 50/50 percent chance that we’ll see approval or we’ll see rejection,” the analyst said suggesting a split probability for the future of spot Ethereum ETFs. This…

Russia’s Central Bank Slashes Benchmark Rate, Pegs RUB to Gold — Ruble Rebounds to Pre-War Levels – Economics Bitcoin News

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Amid the Ukraine-Russia conflict, the Russian ruble has managed to rebound despite the strict sanctions imposed against the Russian Federation. The country’s central bank has taken a few steps to protect the nation’s currency as the Bank of Russia revealed a fixed price for gold and rubles. Furthermore, after pegging the fiat currency to gold, on Friday Russia’s central bank announced a surprise interest rate cut that starts Monday. EU Leaders and Western Allies Create Stricter Sanctions Amid Ruble Rebound At the end of February, after the conflict started between…

RSK Is Changing How It ‘Pegs’ Bitcoin to Its Sidechain

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Bitcoin sidechain developer RSK is revamping how users swap bitcoin for its network’s tokenized version of the cryptocurrency.  IOVlabs, the company that develops the RSK platform, has created a new system for monitoring how bitcoin is “pegged to” (or, swapped for) RBTC, a token that represents a 1-1 peg to real bitcoin. RBTC is the native coin on the RSK sidechain – a Bitcoin scaling solution that uses a blockchain-like network that sacrifices decentralization in favor of faster transaction speeds. Before this change, RSK users would send bitcoin to a…

Xiaomi Denies Authorization of ICO Token That Pegs to Its IPO

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Smartphone maker Xiaomi said it has not authorized and has no connections to an initial coin offering scheme that is selling a token which is said to peg to Xiaomi’s stock price in its upcoming initial public offering. The Chinese smartphone maker is currently scheduled to go public on the main board of the Hong Kong Stock Exchange on July 9. Aiming to raise $4.7 billion, Xiaomi’s IPO is seen as one of the most notable public offerings in Hong Kong this year. And the anticipated IPO appears to have…