Ryan Murphy

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Ryan Murphy

Ryan Murphy

@murfpied

Money provides a sense of financial accomplishment and satisfaction.

LondonMexico เข้าร่วม Şubat 2011
77 กำลังติดตาม52 ผู้ติดตาม
Ryan Murphy
Ryan Murphy@murfpied·
The case between Coinbase and the SEC holds immense importance for the crypto industry, as the fate of 13 tokens hangs in the balance. Judge Failla's knowledge of the space and her insistence on justification from the SEC shows her understanding of the complexities involved. Her decision, whether to proceed or dismiss, will have far-reaching effects on businesses, regulation, and individuals globally. Additionally, this week's Crypto Biz covers VanEck's decision to delist its Bitcoin ETF, the IRS stepping back on crypto tax rules, the remarkable performance of Bitcoin ETFs, and Core Scientific's exit from bankruptcy. Stay informed with Crypto Biz, delivered to your inbox every Thursday.
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Ryan Murphy
Ryan Murphy@murfpied·
The recent movement of $529 million worth of Bitcoin from Grayscale's trust to Coinbase has put significant downward pressure on the price of Bitcoin, pushing it below the $41,000 mark. In addition to this, there has been increased selling activity by Bitcoin miners ahead of the upcoming halving. The combination of these factors has intensified the selling frenzy and contributed to the recent downtrend in Bitcoin's price. The focus now shifts to whether Bitcoin bulls can defend the crucial $40,000 support level, as failure to do so could lead to further price declines. However, with the upcoming halving event, bullish investors remain hopeful for a potential bull run in the near future.
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Ryan Murphy
Ryan Murphy@murfpied·
The price of Ethereum (ETH) has experienced a recent fall, but it is currently trading above a significant horizontal support level. Despite this decrease, ETH remains within a short-term bullish pattern, leaving the question of whether it will break out unanswered. Previously, ETH had been trading inside an ascending parallel channel since October 2023, with its upward movement resulting in a high of $2,717 on January 12. However, it subsequently fell, validating the channel as resistance and forming a bearish candlestick. Ethereum is now approaching a crucial horizontal support area. The Relative Strength Index (RSI), a momentum indicator used by traders to assess if an asset is overbought or oversold, suggests that bulls still possess an advantage, as it is currently above 50 despite falling. Analysts are divided on the future trend of Ethereum, with some emphasizing the significance of the $2,400 level in determining its path. While some analysts anticipate an OBV breakout and a bullish trend, others remain bearish, expecting further downside in the price of ETH. On the six-hour chart, Ethereum has been trading within a descending wedge pattern since its previous high. This pattern is typically seen as bullish and often leads to breakouts. Currently, ETH has bounced off the support trend line of the wedge, coinciding with the 0.5 Fibonacci retracement support level. However, the RSI is still below 50, failing to confirm a potential reversal. If Ethereum breaks out, it could reach the resistance trend line of the channel at $2,700, representing a 9% increase from the current price. However, if it closes below the support line of the wedge at $2,410, it could trigger an 8% drop to the support trend line of the channel at $2,300.
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Ryan Murphy
Ryan Murphy@murfpied·
Former IcomTech CEO Marco Ruiz Ochoa has been handed a five-year prison sentence for his involvement in a crypto Ponzi-like scheme. Ochoa, who pleaded guilty to wire fraud, took advantage of the cryptocurrency hype to deceive unsuspecting investors into participating in the IcomTech pyramid scheme. The significant sentence serves as a warning to others considering following a similar path, emphasizing the serious consequences they may face. In addition to the prison term, Ochoa must serve two years of supervised release and forfeit $914,000 in criminal proceeds. IcomTech, which promised profits from crypto trading and mining, turned out to be a fraudulent operation. The company's promoters used extravagant displays of wealth to attract victims, creating an atmosphere of excitement around the schemes. When investors attempted to withdraw their funds, they encountered excuses, delays, and hidden fees. Despite complaints, Ochoa and other promoters continued to promote IcomTech and accept investments, causing the company's eventual collapse in 2019. The Commodity Futures Trading Commission (CFTC) also charged Ochoa and other IcomTech executives, highlighting the group's targeting of Spanish-speaking communities. This story serves as a reminder to exercise caution when investing in the crypto market, as fraudulent schemes can have severe consequences.
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Andrea Connor
Andrea Connor@andixxthe·
Former IcomTech CEO sentenced to five years in prison for his role in crypto Ponzi-like scheme Former IcomTech CEO Marco Ruiz Ochoa was sentenced to five years in prison for his role in promoting the crypto firm which promised returns for investors, but federal prosecutors say was run more like a Ponzi scheme. Ochoa, 35, was sentenced on Friday before a U.S. district judge after pleading guilty in September to wire fraud. "Ochoa took advantage of the hype around cryptocurrency to con unsuspecting victims into investing in the IcomTech pyramid scheme. This significant sentence sends a message to anyone considering following in his footsteps: that path leads to serious prison time," U.S. Attorney Damian Williams said in a statement on Friday. Ochoa was also sentenced to two years of supervised release and was ordered to forfeit $914,000 in criminal proceeds, according to the Justice Department. IcomTech, an alleged crypto mining and trading company, promised investors profits in exchange for their purchase of "purported cryptocurrency-related investment products." Ochoa, along with others, promised profits from the companies’ crypto trading and mining arm that they said would result in daily returns. IcomTech's crypto trading and mining business did not exist, prosecutors said, and investor money was used for other schemes and personal expenditures. Promoting the company Promoters for IcomTech showed up to events in expensive cars and wearing luxury clothes in a move to appear successful, prosecutors said. "The atmosphere of these events was festive and designed to generate excitement about the schemes," they said. When investors began trying to withdraw money in 2018, they were then met with excuses, delays and hidden fees. "Despite these complaints, IcomTech promoters, including Ochoa, continued to promote IcomTech and accept victims’ investments," prosecutors said. By the end of 2019, IcomTech collapsed. The Commodity Futures Trading Commission also brought charges against Ochoa, and other IcomTech executives including David Carmona, Juan Arellano Parra and Moses Valdez in May. The CFTC said the group targeted Spanish-speaking communities. Disclaimer: The Block is an independent media outlet that delivers news, research, and data. As of November 2023, Foresight Ventures is a majority investor of The Block. Foresight Ventures invests in other companies in the crypto space. Crypto exchange Bitget is an anchor LP for Foresight Ventures. The Block continues to operate independently to deliver objective, impactful, and timely information about the crypto industry. Here are our current financial disclosures. © 2023 The Block. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
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Ryan Murphy
Ryan Murphy@murfpied·
The U.S. dollar saw a slight decline on Friday, ending a streak of five consecutive gains, but it is still set to register a weekly climb. This comes as recent economic data and statements from Federal Reserve officials have tempered expectations of swift interest rate cuts. Despite an initial strengthening due to positive consumer sentiment and robust labor market and retail sales data, traders now anticipate that a rate cut announcement will likely occur in May, as expectations for a March cut have dropped below 50%. The dollar index was down 0.08% at 103.26, snapping its five-session win streak, but still up 0.8% for the week. Various Fed officials, including Governor Christopher Waller and Chicago Fed President Austan Goolsbee, have pushed back on market expectations of rapid rate reductions, emphasizing the need for cautious and methodical decision-making based on sustained lower inflation. The euro was up 0.16% against the dollar, while the yen remained flat. J.P.Morgan revised its predictions for the European Central Bank's interest-rate cuts to June from September but maintained caution due to inflation and wage growth concerns. The yen remained largely unaffected ahead of the Bank of Japan's upcoming policy meeting. Sterling weakened following UK retail sales data showing its sharpest decline in three years. Bitcoin experienced a slight gain but is on track for a second consecutive week of declines after the U.S. approved spot bitcoin exchange-traded funds, leading investors to secure profits.
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alondra melendez
alondra melendez@alo_melendez·
Dollar edges lower but poised for weekly gain as early rate cut hopes dim The U.S. dollar edged lower on Friday, pausing after five straight sessions of gains but still poised for a weekly climb, as recent economic data and comments from Federal Reserve officials dampened expectations of rapid cuts in interest rates. The greenback strengthened early in the session after economic data showed the University of Michigan's preliminary reading on the overall index of consumer sentiment came in at 78.8 this month, the highest reading since July 2021, compared with 69.7 in December and the 70.0 estimate of economists polled by Reuters. The data comes on the heels of solid labor market and retail sales data earlier this week indicating the economy remained firm. Expectations for a cut from the Fed in March of at least 25 basis points (bps) have dipped below 50% according to CME's FedWatch Tool, with traders now targeting May as the likely month for a rate cut announcement. "The market is refusing to give up, it is pushing its ideas into the future, but it hasn't changed its ideas," said Joseph Trevisani, senior analyst at FXStreet in New York. "The Fed is going to start lowering rates and the reason they're going to start lowering rates is the economy is going to get weaker - this has been the mantra ever since the Fed pretty much started raising rates." The dollar index 📷DXY, which tracks the greenback against a basket of six currencies, was down 0.08% at 103.26, on pace to snap a five-session win streak, but was up 0.8% on the week. A steady stream of Fed officials, starting with Governor Christopher Waller on Tuesday, have pushed back on market expectations the central bank will embark on a path of fast reductions to interest rates. Waller said the Fed should proceed "methodically and carefully" until it is clear lower inflation will be sustained. On Friday, Chicago Fed President Austan Goolsbee said weeks more of inflation data need to be in hand before any decision could be made to cut interest rates. In addition, Federal Reserve Bank of San Francisco President Mary Daly said there is still a lot of work left to do on inflation and it is premature to think rate cuts are around the corner. The euro 📷📷EURUSD was up 0.16% at $1.0891 against the dollar but is down about 0.5% for the week. J.P.Morgan on Friday pulled forward its expectations for the start of interest-rate cuts by the European Central Bank to June from September, but said it remained "cautious" about inflation and wage growth trends. The yen 📷📷USDJPY was flat versus the greenback at 148.15. The Bank of Japan is scheduled to hold a policy meeting next Monday and Tuesday, and is likely to maintain its ultra-loose monetary settings. The dollar is up more than 2% against the Japanese currency this week and on track for its third straight weekly gain. Earlier data showed Japan's core inflation rate slowed to 2.3% in the year to December, its lowest annual pace since June 2022, taking the pressure off policymakers to make swift moves. Sterling 📷📷GBPUSD was last trading at $1.27, down 0.06% on the day after weakening to $1.2662 following data which showed UK retail sales slumped by the most in three years in December. In cryptocurrencies, bitcoin 📷BTCUSD gained 2.04% to $41,900.00 but was on track for its second straight week of declines as investors have taken profits following the U.S. approval of spot bitcoin exchange-traded funds.
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Ryan Murphy
Ryan Murphy@murfpied·
Grayscale's Grayscale Bitcoin Trust (GBTC) has experienced a significant decrease in assets, amounting to approximately $5 billion in the span of a week. The decline is attributed to a combination of share redemptions and unfavorable market conditions. It was anticipated that there would be outflows from GBTC following the approval by the United States Securities and Exchange Commission (SEC) to convert the fund into an ETF. In contrast, other recently approved Bitcoin ETFs, such as BlackRock's, have seen substantial inflows, with nearly 68,500 BTC purchased by the nine approved ETFs. In another event, a crypto trader managed to generate a profit of $6.77 million within three hours of the launch of the SatoshiVM (SAVM) token. Utilizing a banana gun sniping tool, the trader acquired the token before its official launch and subsequently sold it as its price soared, resulting in significant gains. However, the token's value plummeted by 99% shortly after the launch due to a bug during the v1 release. The development team decided to sell treasury to recover the locked liquidity pool, ensuring compensation for those involved in v1 while bearing the financial consequences. Furthermore, Bitcoin mining company Hut 8 Corp. witnessed a substantial decline of over 23% in its share price on the same day it rang the Nasdaq's opening bell. This decline was accompanied by an unverified report from activist short-selling firm JCapital Research, suggesting potential stock dumping by insiders. JCapital Research expressed concerns about Hut 8's recent merger with U.S. Bitcoin Corp (USBTC), highlighting perceived legal issues and undisclosed related parties holding the majority of the merged company's shares. It is important to note that this article does not offer investment advice or recommendations. Readers should exercise caution and perform their own research before making any investment or trading decisions, as every move in the market carries inherent risks.
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Karen del angel
Karen del angel @Karendelangel7·
Here’s what happened in crypto today Grayscale has seen the assets held by its Grayscale Bitcoin Trust (GBTC) fall by roughly $5 billion over the past week. Meanwhile, a crypto trader made $6.77 million during the SatoshiVM (SAVM) token launch, and a Bitcoin mining firm’s share prices took a sharp dive on the same day it rang the Nasdaq’s opening bell, and a damning report posted accusations against the firm. Grayscale’s GBTC assets fall by $5B Grayscale has seen the value of its Bitcoin ETF decline sharply over the past week due to a combination of share redemptions and adverse market conditions. Between Jan. 10 and Jan. 18, assets under management held by the Grayscale Bitcoin Trust (GBTC) have fallen from $28.5 billion to $23.7 billion, according to data from YChart and GrayScale. Analysts say outflows from GBTC were expected after the United States Securities and Exchange Commission (SEC) allowed Grayscale to convert the fund into an ETF. As Cointelegraph reported, roughly $1.1 billion flowed out of GBTC over a three-day period. Meanwhile, the other recently approved Bitcoin ETFs have seen heavy inflows, especially BlackRock’s, which recently added 8,700 BTC at a value of nearly $358 million. The nine ETFs that were green lighted more than a week ago have purchased nearly 68,500 BTC. Trader bribes way to $7M profit on SatoshiVM token launch A crypto trader made $6.77 million in profit within three hours of the launch of the SatoshiVM (SAVM) token. The trader used a banana gun sniping tool to acquire the to-be-launched token first and then sold the newly launched token as the price increased, raking in nearly $7 million in profits. The token’s price tanked 99% within three hours of the launch. The developers blamed a bug for the collapse during the v1 launch. The team decided to sell treasury to recover the locked LP, and before launching v2, everyone in v1 was made whole and the Banana Gun team took the financial hit. Bitcoin miner Hut 8 shares tank 23% amid accusations from short-sellers Bitcoin miner Hut 8 Corp. share price tumbled more than 23% on Jan. 18, the same day the firm rang the Nasdaq’s opening bell and another spread an unverified report alleging insiders are preparing to dump its stock. Hut’s share price fell from $9.30 to as low as $7.10 in after-hours trading. The sell-off began around the same time as activist short-selling firm JCapital Research released a report titled “The Coming HUT Pump and Dump” which claimed that the firm’s Nov. 30 merger with fellow Bitcoin miner U.S. Bitcoin Corp (USBTC) could be placing Hut 8 investors in harm’s way. JCapital Research— which admits to being short-side biased on its website — took aim at the recent $725 million merger deal, claiming that USBTC had a history of “legal trouble” and that the majority of the recently merged Bitcoin miner’s shares are held by an “undisclosed related party.” This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.
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Ryan Murphy
Ryan Murphy@murfpied·
The recent sell-off in Bitcoin has been attributed to several factors, including the failure of spot Bitcoin ETFs to boost prices and the impact of outflows from Grayscale Bitcoin Trust (GBTC). Adding to these concerns is the strength of the U.S. dollar, as evidenced by the rise in the U.S. Dollar Index (DXY). The DXY has seen a sharp recovery, reaching new highs in the 103.65-103.70 range, driven by positive U.S. economic data and a rebound in U.S. yields. From a technical standpoint, the DXY looks set to continue rising, potentially leading to an extended recovery. Meanwhile, GBTC outflows have had a significant impact on BTC price, with nearly 38,000 BTC leaving GBTC since the launch of spot Bitcoin ETFs. Despite the approval of the ETFs, the price of BTC has not seen a significant increase, according to economist Peter Schiff. Additionally, independent market analyst Ali has projected a retracement for Bitcoin to $34,000, based on the rejection from the upper boundary of an ascending parallel channel. However, market intelligence firm Santimet remains optimistic about the long-term impact of the ETFs, suggesting that the market's prices may have already priced in the approvals.
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Begüm torku
Begüm torku@BTorku·
Bitcoin price recovery at risk due to DXY strength, GBTC selling Bitcoin 📷BTCUSD traders are reeling from the current sell-off, with the recently launched spot Bitcoin exchange-traded funds (ETFs) failing to produce the desired price upside. In addition to steady Grayscale Bitcoin Trust (GBTC) outflows impacting BTC price, market participants are now facing yet another problem: a strong U.S. dollar. The U.S. dollar’s sharp recovery The U.S. Dollar Index (DXY), which tracks the greenback’s performance against an array of top foreign currencies, has risen 2.71% from its Dec. 27 low of 100.617 amid encouraging United States economic data. Retail sales, the Philly Fed Manufacturing Index and weekly initial jobless claims all provided tailwinds to the DXY, lifting it to new 2024 highs in the 103.65–103.70 range. Data from the U.S. Census Bureau shows that December 2023 retail sales registered 0.6% growth against the expected 0.4% and 0.3% from the previous period. The dollar’s recovery has also been attributed to a rebound in U.S. yields across the curve, all in response to declining bets on the likelihood that the Federal Reserve might start cutting interest rates as soon as March. From a technical perspective, the U.S. Dollar Index looks poised to rise by more than 1.12% due to the formation of a classic V-shaped recovery pattern. If the DXY successfully breaks above its neckline of 104.56, the likelihood of an extended recovery toward 107 over the next few months is higher. Massive GBTC outflows impact BTC price Since the spot Bitcoin ETFs were launched on Jan. 11, massive outflows have been witnessed from GBTC. As a result, Grayscale has liquidated a large number of Bitcoin as part of its GBTC holdings. Nearly 38,000 BTC has left GBTC since it was converted to a spot ETF on Jan. 11. There were $484 million in outflows from Grayscale on Jan. 12 alone as GBTC holders capitalized on open redemption options. In a recent statement, popular economist and gold bug Peter Schiff suggested that despite the approval of the spot Bitcoin ETF, the price of BTC is not increasing due to outflows from Grayscale’s GBTC product. He mentioned that even though the total inflows were larger, it seemed to have a limited impact on the overall BTC market. Bitcoin price could retrace to $34,000 Independent market analyst Ali has pointed out the movement of the BTC price in an ascending parallel channel since late 2022. According to Ali, Bitcoin’s current correction is due to rejection from the channel’s upper boundary at $48,000.The analyst anticipates a retracement for Bitcoin, projecting a decline to the lower boundary at $34,000. However, market intelligence firm Santimet said the market was still optimistic about the long-term impact of the spot Bitcoin ETFs. The firm posted the following chart on X, adding: “However, the #FOMO surrounding the approvals arguably helped mark a local #crypto top, as many experts believed that the foregone conclusion of these approvals was already ‘baked in’ to the market’s prices at the time the announcements were made.”
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Ryan Murphy
Ryan Murphy@murfpied·
Despite the potential delay, Thailand remains committed to its $14.3 billion digital wallet scheme, aiming to provide payments to 50 million citizens through a mobile app. The use of blockchain technology in facilitating the scheme is still uncertain. While facing criticism over its funding model, the government assures the public of transparency and efficiency in implementation. The launch date remains unspecified, with a possible postponement beyond May. The funding for the cash dole will be acquired through a one-time borrowing, with an additional allocation for fostering automation and industrial innovation.
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Ryan Murphy
Ryan Murphy@murfpied·
The recent approval of spot bitcoin ETFs by the U.S. Securities and Exchange Commission has propelled them to surpass silver and secure the second-largest commodity position in the U.S. ETF market, trailing only behind gold. The significant growth of bitcoin ETFs, including the Grayscale Bitcoin Trust ETF GGBTC, which now manages around $28 billion in assets, is a testament to the increasing acceptance and popularity of the digital asset. While some skeptics argue that much of this growth can be attributed to the conversion of Grayscale's existing Bitcoin trust into an ETF, it still showcases the robust appeal and mainstream appetite for bitcoin in the traditionally conventional commodities-dominated ETF market. Despite differing opinions, the fact remains that spot bitcoin ETFs have made a strong impact and are poised to continue challenging the dominance of traditional commodities in the foreseeable future.
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Lachlan Illingworth
Lachlan Illingworth@lachillingworth·
Bitcoin ETFs Eclipse Silver, Claiming Second Spot Behind Gold in US ETF Market Spot bitcoin ETFs, after a phenomenal market debut, have claimed the second-largest commodity position in the U.S. ETF market, growing larger than silver and trailing only behind gold, in a clear sign of the the mainstream appetite for the digital asset. Bitcoin ETFs Outshine Silver, Secure Second Place in U.S. ETF Commodities Spot bitcoin exchange-traded funds (ETFs) have overtaken silver to become the second-largest commodity in the U.S. ETF market, trailing only gold. The recent approval of spot bitcoin ETFs by the U.S. Securities and Exchange Commission has catalyzed this shift. Bitcoin ETFs, including the newly converted Grayscale Bitcoin Trust ETF GGBTC, command nearly $28 billion in assets under management (AUM). This figure starkly contrasts with the $11 billion AUM of silver ETFs, as reported by Gold maintains its leading position with approximately $95 billion in AUM, but the swift rise of spot bitcoin ETFs is a testament to the digital asset’s growing acceptance and popularity. bitcoin, often touted as the digital counterpart to gold, has demonstrated its robust appeal in the ETF market, a domain traditionally dominated by conventional commodities. The initial response to spot bitcoin ETFs was overwhelmingly positive, with an impressive $9.6 billion in trading volume recorded within the first three days of trading, a historic figure in the ETF market. To determine how bitcoin ETFs surpassed silver in AUM, a simple analysis of the holdings was undertaken. Initially, the total number of bitcoins held in various ETFs, excluding GBTC, was sourced from a post by CC15Capital on X. This figure was then combined with the number of bitcoins held by GBTC, as reported by Coinglass. Multiply this aggregated total by the current spot price of Bitcoin for an approximate value of $28 billion. This figure is higher than the AUM for silver ETFs, as listed on Grayscale’s conversion of its existing Bitcoin trust into an ETF played a pivotal role in this shift, creating the world’s largest spot bitcoin ETF overnight. In fact, some ETF market watchers like James Seyffart and Eric Balchunas caution against reading too much into the rapidity with which bitcoin overtook silver. Seyffart, a Bloombert ETF analyst, explained in a post on X that interest in spot bitcoin didn’t ramp up with the launch of spot bitcoin ETFs. Much of it was driven by Greyscale’s GBTC conversion. Seyffart said, “that means it was #2 as soon as the conversion happened! So not really “news” per se haha.” Eric Balchunas, Bloomberg’s senior ETF analyst, agreed with this interpretation, saying, “yeah I get the whole bigger than silver excitement but i just don’t count it as impressive given 95% of was simply GBTC converting.” He added, “These milestones [are] MUCH harder when you [have a] brand new ETF, dif standards of measure.”
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Ryan Murphy
Ryan Murphy@murfpied·
The Securities and Exchange Commission (SEC) is seeking public comments on Nasdaq's proposal to allow options trading on BlackRock's spot bitcoin exchange-traded fund (ETF). The comment period will last for 21 days, and this move by the SEC is being seen as a faster process than usual. If the SEC decides to approve options trading, it could happen by the end of February. BlackRock's spot bitcoin ETF, the iShares Bitcoin Trust, has already received the SEC's approval, and the company saw significant inflows on Thursday. Additionally, firms like BlackRock and Fidelity are also competing for an Ethereum ETF spot. The SEC has delayed its decision on Fidelity's proposal until March 5. Fidelity cited a court ruling that questioned the SEC's rejection of spot crypto ETFs while allowing futures-based products.
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şeyma gündoğan
şeyma gündoğan@SymGndgn·
SEC opens comment period on proposal that would allow options trading on BlackRock’s spot bitcoin ETF The Securities and Exchange Commission asked for comments from the public about a proposal from Nasdaq that would allow for options trading on BlackRock's spot bitcoin ETF. The comment period will last for 21 days, according to a filing posted on Friday. "The Exchange proposes to amend Options 4, Section 3, Criteria for Underlying Securities, to allow the Exchange to list and trade options on iShares Bitcoin Trust (the 'Trust') as a Unit deemed appropriate for options trading on the Exchange," the filing stated. James Seyffart, Bloomberg Intelligence ETF research analyst, said the SEC is moving more quickly than normal on the proposal. "The SEC has already acknowledged the 19b-4's requesting the ability to trade options on spot #Bitcoin ETFs," Seyffart said on Friday in a post on X. "This is faster than SEC typically moves. Options could be approved before end of February if SEC wants to move fast?" BlackRock, which just last week received the green light from the SEC to list its spot bitcoin ETF, the iShares Bitcoin Trust, brought in $145.5 million in inflows on Thursday alone. Turn to Ethereum Firms including BlackRock and Fidelity are also vying for a spot Ethereum ETF. On Thursday, the SEC delayed its deadline to make a decision on Fidelity's proposal until March 5. Fidelity applied for the Fidelity Ethereum Fund in November, noting in its proposal a court ruling last year where judges said the SEC failed to find a coherent reason on why it should reject spot crypto ETFs when it had allowed futures-based products. Disclaimer: The Block is an independent media outlet that delivers news, research, and data. As of November 2023, Foresight Ventures is a majority investor of The Block. Foresight Ventures invests in other companies in the crypto space. Crypto exchange Bitget is an anchor LP for Foresight Ventures. The Block continues to operate independently to deliver objective, impactful, and timely information about the crypto industry. Here are our current financial disclosures. © 2023 The Block. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
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Ryan Murphy
Ryan Murphy@murfpied·
Please refrain from posting an excessive amount of couple photos during your travels. Instead, try sharing captivating images of the places you visit and interesting travel tips. Show off your photography skills and inspire others to explore the world. Remember, it's not just about the people you're with, but the beauty of the destinations themselves. Share your experiences, rate them on a scale of 1 to 10, and spread the love for travel. @shotbymarcos @marta.alonso.c #photography #selfies #posingforphotos #bestphotos #creativephotos #photographyideas #travelphotos #photographytips #mobilephotography #phototutorials #travels
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Ryan Murphy
Ryan Murphy@murfpied·
@vanessavaquiz "Bitcoin's appeal as a store of value continues to grow, supported by its decentralized nature and limited supply, which contribute to its status as a reliable and scarce digital asset."
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vanessa
vanessa@vanessavaquiz·
However, unlike gold, Bitcoin has a near-fixed supply limit, enhancing its appeal as a store of value. When probed about predictions like Cathie Wood’s that foresee Bitcoin reaching $600,000 or more, Fink refrained from speculating on specific valuations, focusing instead on the asset’s potential for wealth preservation. #Bitcoin
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Ryan Murphy
Ryan Murphy@murfpied·
@dipset446 "Bitcoin's influence extends beyond the digital realm; its introduction of blockchain technology has sparked innovation in various industries, paving the way for a more secure and decentralized future."
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jose
jose@dipset446·
Bangalore, India, January 11th, 2024, Chainwire – In a groundbreaking collaboration with Chainlink, Hypersign is at the forefront of revolutionizing decentralized finance by effectively incorporating Know Your Customer (KYC) processes into the blockchain. Using Chainlink functions, Hypersign introduces a transformative approach to On-Chain KYC Verification, seamlessly integrating Decentralized Identifiers (DID), Verifiable Credentials, and Zero-Knowledge Proofs. This strategic amalgamation tackles the inherent pseudonymity of blockchain transactions and establishes a robust framework ensuring user privacy and regulatory compliance. Moreover, the collaboration’s innovative use of Hypersign’s decentralized identifiers is pivotal in bridging the gap between traditional finance and decentralized finance (DeFi). #Bitcoin
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Ryan Murphy
Ryan Murphy@murfpied·
@bythenight "Investors are eagerly awaiting Thursday's inflation report for potential market direction."
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Joen M Usta
Joen M Usta@bythenight·
MARKET PERSPECTIVE: Risk aversion psychology is driving price action as Wall Street is trading with losses in two out of its three major stock indices, decreasing from 0.06% to 0.40%. The Nasdaq 100 is an exception with a 0.25% increase. In the forex space, the U.S. Dollar Index (DXY), measuring the performance of the dollar against a basket of six currencies, rose by 0.26%, reaching 102.56 as U.S. Treasury bond yields declined. Economic data in the United States (US) is largely being overlooked by market participants, focusing on Thursday's inflation report. However, the US Department of Commerce revealed that the trade deficit for November narrowed more than estimated and compared to the previous month. The trade balance increased to -$63.2 billion from -$64.5 billion in October, expected to be -$65 billion. #BTC
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Ryan Murphy@murfpied·
@hvy_gorilla Bitstamp experiences a surge of XRP deposits in the millions as its price skyrockets by 5%, illustrating a growing interest and confidence in the cryptocurrency market.
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Ryan Murphy
Ryan Murphy@murfpied·
According to Bloomberg ETF analyst Eric Balchunas, it is improbable for a spot Bitcoin ETF to be rejected this month. However, if that were to happen, it would likely be because the Securities and Exchange Commission desires more time for evaluation rather than an outright rejection.
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Josef Peters
Josef Peters@clevelandcop13·
Spot Bitcoin ETFs could be rejected if the SEC wants ‘more time’ — Analyst While the chances are slim, a spot Bitcoin exchange-traded fund (ETF) being rejected this month will most likely be due to the Securities and Exchange Commission wanting “more time” rather than a flat-out rejection, says Bloomberg ETF analyst Eric Balchunas. #BTC #Bitcoin
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