An investigation into the law firm Sullivan & Cromwell LLP, which worked with the now-defunct crypto exchange FTX, revealed that the firm was neither involved in the fraud nor aware of the financial troubles that plagued the collapsed trading platform. Sullivan & Cromwell Cleared of Negligence in FTX Collapse Following a recent investigation, former U.S. […] Source BitcoincryptoexchangeExchanges CryptoX Portal
A new quarterly 13F report has revealed that the world’s largest companies are investing considerable sums in Bitcoin ETFs. What does this mean for the crypto industry? A few hundred U.S. firms have filed Form 13F with the Securities and Exchange Commission (SEC). Of particular interest to the crypto market is that many institutional investors own shares of spot Bitcoin ETFs. How Form 13F works 13Fs are quarterly reports filed with the SEC by institutional investment managers with at least $100 million under management. 13Fs provide insight into stock ownership…
The expectation for the approval of an Ether exchange-traded fund (ETF) is heightened as the Securities and Exchange Commission (SEC) asked Nasdaq, CBOE, and NYSE to amend their applications for the crypto instrument by the end of Tuesday, Reuters reported. Bringing Enthusiasm among Crypto Investors Although there is no official confirmation, the regulator’s reported approach to the exchange has sparked enthusiasm in the crypto markets, as the dollar value of Ether has jumped significantly in the past couple of days. Ether ETF hopes are revived on flurry of application updates…
The San Francisco-based crypto exchange Kraken is reportedly mulling whether to pull support for the stablecoin USDT in the European Union (EU). Bloomberg reports that Kraken is “actively reviewing” its European support for the Tether-issued stablecoin. European digital asset trade associations and think tanks have warned that the EU’s Markets in Crypto-Assets Regulation (MiCA) could ban the largest stablecoins by trading volume. MiCA is the upcoming EU legislation that will provide rules covering the supervision, consumer protection and environmental safeguards of crypto assets. The law also includes measures that aim…
Recently launched spot bitcoin exchange-traded funds (ETFs) gave traders a safer way to invest in the token, which over 500 institutions took advantage of within only the first three months of existence, allocating over $10 billion in the funds alone. The rest, over $40 billion, came from retail traders. Source
According to 13F filings with the U.S. Securities and Exchange Commission (SEC), Millennium Management, a highly successful hedge fund, holds nearly $2 billion in spot bitcoin exchange-traded fund (ETF) shares. This week, it was further revealed that Morgan Stanley, a giant multinational investment and financial services firm, also has exposure to spot bitcoin ETFs. Top […] Original
CME Group, the world’s largest futures exchange, is planning to launch bitcoin trading to capitalize on the surging demand among Wall Street money managers for exposure to the cryptocurrency sector, according to a report from the Financial Times. The Chicago-based group has reportedly been in discussions with traders interested in buying and selling the cryptocurrency […] Original
Bitcoin and stocks experienced a notable price increase following the release of the April U.S. inflation data. The Consumer Price Index (CPI), which measures the average change over time in the prices paid by urban consumers for a market basket of consumer goods and services, indicated a 3.4% increase in consumer prices from last year. The year-over-year inflation figure represents a slight decrease from March’s inflation rate of 3.7%, as reported by the U.S. Bureau of Labor Statistics (BLS). 24-hour price of BTC from CoinMarketCap Shortly after the BLS published…
The onchain analytics firm Glassnode has released a new report detailing the contrasting performance of bitcoin and ethereum during the 2023-24 cycle. The report highlights bitcoin’s resilience and ethereum’s comparative lag in speculative interest and price performance. Bitcoin’s Post-Halving Resilience Contrasts With Ethereum’s Struggles, Says Glassnode Glassnode researchers noted a significant divergence in performance between […] Original
Russian authorities have reportedly proposed to impose hefty fines on suspected crypto miners operating from residential properties. Authorities may also consider including amendments to the Code of Administrative Offenses which imposes liability on those misusing electricity. Proposed Measures Aimed at Curbing Rising Power Outage Cases Authorities in Russia have signaled their intention to pursue private […] Source CryptoX Portal