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Big Names Talk Potential Impact of ETFs on BTC Price, Solo Miner Pulls Down Lucky Block Reward, and More — Week in Review
3.12.2023
Global investment bank JPMorgan has noted that SEC approval of a spot bitcoin exchange-traded fund (ETF) could “put severe downward pressure on bitcoin prices.” Conversely, Standard Chartered Bank sees “price upside” related to such an approval from the United States...
Asset Managers Should Only Engage Staking Platforms With Strong Security — Andrew McFarlane
3.12.2023
Institutional investors seeking to earn rewards from digital asset token staking must be aware of the associated risks and should take steps to protect their clients, Andrew McFarlane, CTO at the Web3 infrastructure company Validation Cloud, has said. According to McFarlane, slashing, which is...
Study: Less Than 5% of South Africa-Based Crypto Asset Providers Generate Revenues Exceeding $8 Million
3.12.2023
Only five percent of surveyed South African crypto-asset financial service providers (FSPs) are generating revenue between $8 million and $10 million. The Financial Sector Conduct Authority study found that many of the crypto asset FSPs “earn their revenue from trading fees.” Only...
South African Crypto Exchanges Revix and Bitfund Merge With Austrian Digital Asset Platform
3.12.2023
Two South African crypto platforms and an Austria-based digital asset platform have joined forces to launch a new alternative investment platform called Altify. The goal of the new outfit is to enable South African investors, particularly the younger ones, to harness the power of alternative...
Financial Advisors Are Waiting for Spot Bitcoin ETFs to Offer Clients, Says Ric Edelman
3.12.2023
Edelman Financial Services founder Ric Edelman has explained that financial advisors are waiting for the U.S. Securities and Exchange Commission (SEC) to approve spot bitcoin exchange-traded funds (ETFs) so that they can offer these investment products to their clients. “Every compliance...
JPMorgan CEO Jamie Dimon Warns of Higher Interest Rates and Recession — ‘I’m Not Trying to Scare People’
3.12.2023
JPMorgan Chase CEO Jamie Dimon has warned that something bad may happen in the U.S. economy. “I’m not trying to scare people. I’m more in the category that something could go wrong,” he stressed. “A lot of things out there are dangerous and inflationary. Be prepared …...
Robert Kiyosaki Warns of Giant Market Collapse, War, ‘Really Hard Times Ahead’ for Millions
3.12.2023
Rich Dad Poor Dad author Robert Kiyosaki has issued more warnings about the U.S. economy, including a giant market collapse, a possible next Great Depression, and another war. The famous author emphasized that millions of people will face “really hard times ahead.” He urged them to...
Skybridge Capital Founder Scaramucci Predicts Massive Capital Inflow From Wall Street Into Spot Bitcoin ETFs
3.12.2023
Skybridge Capital founder Anthony Scaramucci has predicted a substantial influx of capital from Wall Street into spot bitcoin exchange-traded funds (ETFs) once they are approved by the U.S. Securities and Exchange Commission (SEC). He highlighted the unleashing of salesforces from major...
Cambridge Study Unveils Ethereum’s Environmental Impact Post-Merge, Highlighting Major Energy Reduction
3.12.2023
The transformation of the Ethereum network, popularly known as ‘The Merge,’ marked a significant shift in the blockchain’s energy usage and climate impact. A detailed report by the Cambridge Centre for Alternative Finance (CCAF) meticulously dissects this journey, offering...
Bitcoin Surpasses $39K, Achieving 19-Month Peak in Saturday’s Crypto Market Surge
2.12.2023
On Saturday, December 2, 2023, the cryptocurrency market exhibited a positive trajectory, advancing by 1.91% to reach a total value of $1.48 trillion. Notably, bitcoin achieved a peak of $39,705 within the day, marking its highest value since late April 2022. Crypto Economy Climbs Nearly 2%...
L2 Crypto Project Blast Achieves $660M TVL Amid Mockery for Key Developer Recruitment
2.12.2023
Recent data reveals that Blast, the new layer two (L2) blockchain platform, has amassed a significant $660 million in value within its decentralized finance (defi) protocol. Concurrently, while accumulating a variety of crypto assets, the initiative has commenced a search for experienced senior...
FDUSD Nears $1 Billion Cap — A Rapid 253% Surge in Supply Since August
2.12.2023
Recent data indicates that the market capitalization of the newly introduced stablecoin, first digital usd (FDUSD), is approaching the $1 billion threshold. This growth, a 253% increase in supply, has been recorded since August 4, 2023. Currently, the circulation of FDUSD tokens stands at...
Bitcoin ETF Decision Dates Approach: What to Expect in January
2.12.2023
Image by Parradee, Adobe Stock The Securities and Exchange Commission (SEC)’s move to start a public comment period for spot Bitcoin (BTC) ETF applications earlier than expected has stirred up optimism around the launch of these products. On November 28, the SEC published filings instituting...
GHO Stablecoin Hits $0.98 Target as Strategic Initiatives Spearhead Turnaround
2.12.2023
Beginning in mid-July 2023, the stablecoin from Avara (previously known as Aave), a decentralized finance firm, consistently traded below its target $1 peg, reaching a low of $0.917 on October 24. Nonetheless, in recent weeks, the Liquidity Committee of the project undertook efforts to rectify this...
NFT Sales Boom in November — Bitcoin Dethrones Ethereum in Market Surge
2.12.2023
Sales of non-fungible tokens (NFTs) experienced a notable surge in November, with a 129.01% increase in sales volume compared to October. Additionally, NFTs created on the Bitcoin blockchain surpassed those on Ethereum in terms of sales this past month. This shift can be attributed to a marked rise...
Crypto Firms’ Compliance With Regulation Should Not Be at the Expense of Innovation — Zak Taher
2.12.2023
Zak Taher, the CEO of Multibank.io, said he believes the United Arab Emirates (UAE) is the most attractive investment destination for overseas digital asset companies due to its effective governance and the leadership of its individuals. The UAE’s status within the global financial landscape...
3 out of 4 Web3 Games Launched Between 2018 and 2023 Now Inactive — Study
2.12.2023
Between 2018 and 2023, 2,127 out of 2,817 Web3 games launched have either failed or are now inactive, an analysis by Coingecko has shown. The failure rate was the highest in 2019 (94.3%) and 2020 (94.4%) while in 2021, 339 out of 738 games failed, translating to a failure rate of 45.9%. 2020...
Cornell Study: Bitcoin Can Power Renewable Energy Deployments and Climate Action
2.12.2023
A recent study led by investigators from Cornell University has outlined how Bitcoin can help finance renewable energy installations by using surplus power even while these facilities are not yet integrated into the U.S. power grid. Texas is said to be one of the states with the most potential....
We Neither Bank Justin Sun nor Finance Hamas — Circle Chief Strategy Officer
2.12.2023
USDC stablecoin issuer Circle neither “finances Hamas” nor does it bank Tron blockchain founder Justin Sun, the fintech firm’s chief strategy officer has asserted. Although Circle had past business dealings with Sun, this ended in February 2023 when it terminated his accounts...
Report: Bitcoin Miners’ Revenue Down by More Than 30% in the Last 6 Months
2.12.2023
In the past six months, Bitcoin miners’ revenue has dropped by more than 30%, with November revenues approximately $270 million lower than October revenues. The drop in Bitcoin miners’ revenue is attributed to Bitcoin price volatility, increased competition, and higher electricity...