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Crypto News Update: January 27, 2024
Avalanche Foundation Embraces Meme Coin Culture With $100 Million Fund.
The Avalanche Foundation announced a new initiative to support meme coins and NFTs on its platform.
The fund will provide grants, marketing, and technical assistance to projects that meet the eligibility criteria.
The foundation hopes to foster creativity and innovation in the crypto space by embracing the meme coin culture.
The Avalanche Foundation is one of the leading supporters of decentralized applications and protocols in the crypto industry.
Its native token, AVAX, has surged over 300% in the past year, reaching a market cap of over $40 billion.
The fund is expected to attract more developers and users to the Avalanche ecosystem, as well as generate more awareness and adoption of crypto in general.
Will you support meme culture or will it be a seasonal trend?
$AVAX
#Write2Earn
Avalanche Foundation Embraces Meme Coin Culture With $100 Million Fund.
The Avalanche Foundation announced a new initiative to support meme coins and NFTs on its platform.
The fund will provide grants, marketing, and technical assistance to projects that meet the eligibility criteria.
The foundation hopes to foster creativity and innovation in the crypto space by embracing the meme coin culture.
The Avalanche Foundation is one of the leading supporters of decentralized applications and protocols in the crypto industry.
Its native token, AVAX, has surged over 300% in the past year, reaching a market cap of over $40 billion.
The fund is expected to attract more developers and users to the Avalanche ecosystem, as well as generate more awareness and adoption of crypto in general.
Will you support meme culture or will it be a seasonal trend?
$AVAX
#Write2Earn
Crypto News Update: January 25, 2024
Ethereum 2.0 staking surpasses $10 billion as ETH price hits new high
Ethereum 2.0, the long-awaited upgrade to the second-largest cryptocurrency by market cap, has reached a new milestone as the total amount of ETH locked in staking contracts exceeds $10 billion.
This represents more than 3.6 million ETH, or about 3.1% of the total supply, that are being staked by validators who run nodes to secure the network and earn rewards.
The surge in staking coincides with the rise in ETH price, which has reached a new all-time high of $2,786 on January 25, 2024.
The price increase is driven by several factors, including the growing demand for decentralized applications (dApps) that run on Ethereum, the anticipation of lower fees and higher scalability with Ethereum 2.0, and the emergence of decentralized finance (DeFi) protocols that offer various financial services without intermediaries.
Ethereum 2.0 is expected to launch in phases, with the first phase (Phase 0) already live since December 1, 2020. Phase 0 introduced the Beacon Chain, which is the backbone of the new proof-of-stake (PoS) consensus mechanism that replaced the proof-of-work (PoW) system.
What do you think of Ethereum staking and its impact on the crypto market?
$ETH
#ETH-ETF
#ethstaking
#Write2Earn
Ethereum 2.0 staking surpasses $10 billion as ETH price hits new high
Ethereum 2.0, the long-awaited upgrade to the second-largest cryptocurrency by market cap, has reached a new milestone as the total amount of ETH locked in staking contracts exceeds $10 billion.
This represents more than 3.6 million ETH, or about 3.1% of the total supply, that are being staked by validators who run nodes to secure the network and earn rewards.
The surge in staking coincides with the rise in ETH price, which has reached a new all-time high of $2,786 on January 25, 2024.
The price increase is driven by several factors, including the growing demand for decentralized applications (dApps) that run on Ethereum, the anticipation of lower fees and higher scalability with Ethereum 2.0, and the emergence of decentralized finance (DeFi) protocols that offer various financial services without intermediaries.
Ethereum 2.0 is expected to launch in phases, with the first phase (Phase 0) already live since December 1, 2020. Phase 0 introduced the Beacon Chain, which is the backbone of the new proof-of-stake (PoS) consensus mechanism that replaced the proof-of-work (PoW) system.
What do you think of Ethereum staking and its impact on the crypto market?
$ETH
#ETH-ETF
#ethstaking
#Write2Earn
JUST IN: Hong Kong Spot ETF
OSL manager says Hong Kong could launch spot crypto ETF by mid-year.
Gary Tiu, managing director and head of regulatory affairs at OSL, a crypto exchange licensed in Hong Kong, said that the special administrative region may issue the first spot crypto exchange-traded funds by the middle of this year, according to local media.
Spot crypto ETFs aim to bring order, investor protection and connections between digital assets and traditional finance.
The initiative signals a major turning point, as Hong Kong tries to take a leading role in the fast-growing market for crypto assets.
Several fund firms are interested in launching such ETFs, which would allow investors to directly invest in cryptocurrencies without having to deal with the technical challenges of custody and security.
The Securities and Futures Commission (SFC) of Hong Kong is actively considering such a possibility, while keeping an eye on the regulatory concerns that need to be cleared before giving the green light.
$BTC $ETH
#hongkongETF
OSL manager says Hong Kong could launch spot crypto ETF by mid-year.
Gary Tiu, managing director and head of regulatory affairs at OSL, a crypto exchange licensed in Hong Kong, said that the special administrative region may issue the first spot crypto exchange-traded funds by the middle of this year, according to local media.
Spot crypto ETFs aim to bring order, investor protection and connections between digital assets and traditional finance.
The initiative signals a major turning point, as Hong Kong tries to take a leading role in the fast-growing market for crypto assets.
Several fund firms are interested in launching such ETFs, which would allow investors to directly invest in cryptocurrencies without having to deal with the technical challenges of custody and security.
The Securities and Futures Commission (SFC) of Hong Kong is actively considering such a possibility, while keeping an eye on the regulatory concerns that need to be cleared before giving the green light.
$BTC $ETH
#hongkongETF
🥇 “Bitcoin is supported by the world’s largest computer network. This network surpasses in size the entirety of the cloud infrastructures that Amazon, Google and Microsoft have developed in the last 15 to 20 years.”
Cathie Wood, founder, CEO and CIO of Ark Invest
$BTC
#CathieWood
Cathie Wood, founder, CEO and CIO of Ark Invest
$BTC
#CathieWood
Since the launch of the US spot Bitcoin ETFs, the six largest European Bitcoin ETPs have seen a total outflow of $133.5 million, including $8.5 million today.
This indicates that investors are rebalancing their portfolios to the more efficient and cost-effective US ETFs.
Why is it more cost-effective for a Bitcoin investment by buying a Bitcoin ETF?
A Bitcoin ETF is an exchange-traded fund that tracks the price of Bitcoin and allows investors to buy and sell shares of the fund on a stock exchange.
Bitcoin ETFs offer several advantages over direct methods of investing in Bitcoin, such as:
- Lower fees: Bitcoin ETFs typically have lower expense ratios than Bitcoin ETPs, wallets, or exchanges. For example, the Bitwise Bitcoin ETF (BITB) has the lowest expense ratio of all the new Bitcoin funds, at 0.20%.
- Higher liquidity: Bitcoin ETFs are traded on major stock exchanges, which means they have higher trading volumes and liquidity than other Bitcoin products. This makes it easier for newbie whale investors to buy and sell shares of the fund at any time.
- Greater security: Bitcoin ETFs do not require investors to hold or store Bitcoin themselves, which eliminates the risk of hacking, theft, or loss of private keys. Bitcoin ETFs are also regulated, which provides more oversight and protection for investors.
- Tech foolproof: Let's be honest. Not everyone interested in investing their fiat is tech-savvy. Just look at how many user errors costing lost of funds upwards of millions of dollars. ETFs serve this niche market for volatile digital assets.
Therefore, you may want to consider buying a Bitcoin ETF as a more cost-effective solution for Bitcoin investment.
However, you should also be aware of the risks and challenges involved in investing in Bitcoin, such as volatility, regulation, taxation, and competition.
You should do your own research and consult a financial advisor before making any investment decisions.
$BTC $ETH $BNB
#BitcoinETF💰💰💰 #Europe
This indicates that investors are rebalancing their portfolios to the more efficient and cost-effective US ETFs.
Why is it more cost-effective for a Bitcoin investment by buying a Bitcoin ETF?
A Bitcoin ETF is an exchange-traded fund that tracks the price of Bitcoin and allows investors to buy and sell shares of the fund on a stock exchange.
Bitcoin ETFs offer several advantages over direct methods of investing in Bitcoin, such as:
- Lower fees: Bitcoin ETFs typically have lower expense ratios than Bitcoin ETPs, wallets, or exchanges. For example, the Bitwise Bitcoin ETF (BITB) has the lowest expense ratio of all the new Bitcoin funds, at 0.20%.
- Higher liquidity: Bitcoin ETFs are traded on major stock exchanges, which means they have higher trading volumes and liquidity than other Bitcoin products. This makes it easier for newbie whale investors to buy and sell shares of the fund at any time.
- Greater security: Bitcoin ETFs do not require investors to hold or store Bitcoin themselves, which eliminates the risk of hacking, theft, or loss of private keys. Bitcoin ETFs are also regulated, which provides more oversight and protection for investors.
- Tech foolproof: Let's be honest. Not everyone interested in investing their fiat is tech-savvy. Just look at how many user errors costing lost of funds upwards of millions of dollars. ETFs serve this niche market for volatile digital assets.
Therefore, you may want to consider buying a Bitcoin ETF as a more cost-effective solution for Bitcoin investment.
However, you should also be aware of the risks and challenges involved in investing in Bitcoin, such as volatility, regulation, taxation, and competition.
You should do your own research and consult a financial advisor before making any investment decisions.
$BTC $ETH $BNB
#BitcoinETF💰💰💰 #Europe
💰 $9.6 billion in 3 days - ETF analyst highlights remarkable early success of Bitcoin ETFs
On Tuesday, the third trading day of the US-based spot Bitcoin exchange-traded funds (ETFs), there was a noticeable drop in activity, with the trading volume falling by 37% compared to the level of January 12, 2024.
Most funds closed with a decline of slightly more than 1% against the US dollar, with Grayscale's GBTC taking the lion's share of the trading volume.
BlackRock has accumulated 16,362 Bitcoin after only 4 trading days.
Imagine how many they will accumulate by the end of this year ...
$BTC $ETH $BNB
#GRAYSCALE #BlackRockInCrypto #ETFs.
On Tuesday, the third trading day of the US-based spot Bitcoin exchange-traded funds (ETFs), there was a noticeable drop in activity, with the trading volume falling by 37% compared to the level of January 12, 2024.
Most funds closed with a decline of slightly more than 1% against the US dollar, with Grayscale's GBTC taking the lion's share of the trading volume.
BlackRock has accumulated 16,362 Bitcoin after only 4 trading days.
Imagine how many they will accumulate by the end of this year ...
$BTC $ETH $BNB
#GRAYSCALE #BlackRockInCrypto #ETFs.
JUST IN: 🔥 Grayscale sends about 19,000 Bitcoin to Coinbase this morning as the US markets open 🔥
This is a breaking news headline about a large transfer of Bitcoin from Grayscale, the owner of the Grayscale Bitcoin Trust (GBTC), to Coinbase, a popular cryptocurrency exchange.
The transfer coincides with the opening of the US stock markets, which may affect the price of Bitcoin.
Grayscale has been sending a significant amount of Bitcoin to Coinbase since the launch of Bitcoin spot exchange-traded funds (ETFs) on January 12, 2024.
This could indicate that investors are shifting their capital from GBTC, which has a high expense ratio of 1.5%, to other lower-cost spot Bitcoin ETFs, such as BlackRock’s IBIT and Fidelity’s FBTC. Some analysts also suggest that the outflows from GBTC may be due to profit-taking following the ETF conversion.
The Bitcoin price has been fluctuating in response to these developments, dropping by 8% since the commencement of ETF trading. However, it has recently found support at $42,000 and is currently trading at $43,1001.
The future of Bitcoin and the cryptocurrency market remains uncertain, as many factors could influence the supply and demand of the digital asset. Opportunity to some hodler.
$BTC $ETH $BNB
#GRAYSCALE
This is a breaking news headline about a large transfer of Bitcoin from Grayscale, the owner of the Grayscale Bitcoin Trust (GBTC), to Coinbase, a popular cryptocurrency exchange.
The transfer coincides with the opening of the US stock markets, which may affect the price of Bitcoin.
Grayscale has been sending a significant amount of Bitcoin to Coinbase since the launch of Bitcoin spot exchange-traded funds (ETFs) on January 12, 2024.
This could indicate that investors are shifting their capital from GBTC, which has a high expense ratio of 1.5%, to other lower-cost spot Bitcoin ETFs, such as BlackRock’s IBIT and Fidelity’s FBTC. Some analysts also suggest that the outflows from GBTC may be due to profit-taking following the ETF conversion.
The Bitcoin price has been fluctuating in response to these developments, dropping by 8% since the commencement of ETF trading. However, it has recently found support at $42,000 and is currently trading at $43,1001.
The future of Bitcoin and the cryptocurrency market remains uncertain, as many factors could influence the supply and demand of the digital asset. Opportunity to some hodler.
$BTC $ETH $BNB
#GRAYSCALE
Did you know that BlackRock, the world’s largest asset manager, bought 11,500 BTC during the recent dip?
That’s equivalent to about 13 days of Bitcoin production.
This shows that institutional investors are bullish on Bitcoin and see it as a legitimate asset class.
BlackRock’s iShares Bitcoin Trust was the leader among the newly approved Bitcoin ETFs, attracting inflows of $497.7 million in the first two trading days.
What do you think of BlackRock’s move? Are you buying the dip too? Let me know in the comments! 👇
#BitcoinETFapproved #BlackRockInCrypto #ETF #InvestingAdventure
$BTC
That’s equivalent to about 13 days of Bitcoin production.
This shows that institutional investors are bullish on Bitcoin and see it as a legitimate asset class.
BlackRock’s iShares Bitcoin Trust was the leader among the newly approved Bitcoin ETFs, attracting inflows of $497.7 million in the first two trading days.
What do you think of BlackRock’s move? Are you buying the dip too? Let me know in the comments! 👇
#BitcoinETFapproved #BlackRockInCrypto #ETF #InvestingAdventure
$BTC
Failed hacker attack on Bitfinex with XRP
💻 Bitfinex was the target of a sophisticated hacker attack. The attackers faked a transfer of almost 15 billion US dollars in XRP.
😂 That would have amounted to about 50% of the total XRP market capitalization.
🛑 Bitfinex CTO Paolo Ardoino reported on Platform X that the “Partial Payments Exploit” attempt was thwarted.
Although at first glance a huge sum seemed to be transferred, the actual amount was only a few cents.
🤔 What do you think of this incident? Have you ever encountered a similar scam attempt? How do you protect yourself from hackers and fraudsters in the crypto space? Let me know in the comments below.
👉 If you enjoyed this post, consider give it a tip and share it with your friends. You can also follow me for more crypto news and insights. And don’t forget to check out my Binance Square for more posts, the best place to connect with other crypto enthusiasts and creators.
#BinanceSquareCreatorAwards #Bitfinex #HackerAlert #RippleUpdate
$XRP
💻 Bitfinex was the target of a sophisticated hacker attack. The attackers faked a transfer of almost 15 billion US dollars in XRP.
😂 That would have amounted to about 50% of the total XRP market capitalization.
🛑 Bitfinex CTO Paolo Ardoino reported on Platform X that the “Partial Payments Exploit” attempt was thwarted.
Although at first glance a huge sum seemed to be transferred, the actual amount was only a few cents.
🤔 What do you think of this incident? Have you ever encountered a similar scam attempt? How do you protect yourself from hackers and fraudsters in the crypto space? Let me know in the comments below.
👉 If you enjoyed this post, consider give it a tip and share it with your friends. You can also follow me for more crypto news and insights. And don’t forget to check out my Binance Square for more posts, the best place to connect with other crypto enthusiasts and creators.
#BinanceSquareCreatorAwards #Bitfinex #HackerAlert #RippleUpdate
$XRP
📊 BlackRock-CEO Larry Fink sees potential in Ethereum ETF
🚀 After the successful launch of the Spot Bitcoin ETF (IBIT), BlackRock CEO Larry Fink expressed that he “recognizes the value” of a Spot Ethereum ETF.
📈 BlackRock, the world’s largest asset manager with $9 trillion in assets under management, filed an application for a Spot Ethereum ETF in November.
💬 In an interview with CNBC, Fink compared Bitcoin to gold and stressed that Bitcoin has almost reached its maximum amount, which makes it an asset that can provide protection.
“It is an asset that protects you. And unlike gold, which we constantly reproduce, we are [with Bitcoin & Ethereum] almost at the maximum limit that will ever exist.”
ISLM trading at discounted price of 0.09 USD.
$BTC $ETH
#ETH-ETF
#BlackRockInCrypto
NFA. DYOR. WAGMI.
🚀 After the successful launch of the Spot Bitcoin ETF (IBIT), BlackRock CEO Larry Fink expressed that he “recognizes the value” of a Spot Ethereum ETF.
📈 BlackRock, the world’s largest asset manager with $9 trillion in assets under management, filed an application for a Spot Ethereum ETF in November.
💬 In an interview with CNBC, Fink compared Bitcoin to gold and stressed that Bitcoin has almost reached its maximum amount, which makes it an asset that can provide protection.
“It is an asset that protects you. And unlike gold, which we constantly reproduce, we are [with Bitcoin & Ethereum] almost at the maximum limit that will ever exist.”
ISLM trading at discounted price of 0.09 USD.
$BTC $ETH
#ETH-ETF
#BlackRockInCrypto
NFA. DYOR. WAGMI.
Cathie Wood's Bold 🥇 Bitcoin Investment: A Quarter of Her Wealth in the Crypto Game! 💸🚀
😎 Cathie Wood, the charismatic founder and leader of ARK Invest, has established herself as a pioneer in the dynamic field of digital currencies. Besides her role as an experienced portfolio manager, who focuses on revolutionary innovations, she is also known as a dedicated economist and advocate for women's rights.
🚀 With an estimated personal fortune between 250 and 300 million US dollars, Wood recently revealed that she boldly invested 25% of her financial net worth - apart from real estate and stakes in ARK - in Bitcoin.
🌟 ARK Investment Management LLC, Wood's impressive company, was founded in 2014 and managed an incredible 50 billion US dollars in assets by February 2021. The company's headquarters are located in Saint Petersburg, USA.
🔥 On the first trading day, the ARK 21Shares Bitcoin ETF initiated by her and ten other Bitcoin Spot ETFs reached a trading volume of 4.6 billion US dollars, a clear sign of Wood's conviction in the future of Bitcoin and her ability to shine in the crypto market.
$BTC
#BTCETFSPOT #ARK21Shares #CathieWood
😎 Cathie Wood, the charismatic founder and leader of ARK Invest, has established herself as a pioneer in the dynamic field of digital currencies. Besides her role as an experienced portfolio manager, who focuses on revolutionary innovations, she is also known as a dedicated economist and advocate for women's rights.
🚀 With an estimated personal fortune between 250 and 300 million US dollars, Wood recently revealed that she boldly invested 25% of her financial net worth - apart from real estate and stakes in ARK - in Bitcoin.
🌟 ARK Investment Management LLC, Wood's impressive company, was founded in 2014 and managed an incredible 50 billion US dollars in assets by February 2021. The company's headquarters are located in Saint Petersburg, USA.
🔥 On the first trading day, the ARK 21Shares Bitcoin ETF initiated by her and ten other Bitcoin Spot ETFs reached a trading volume of 4.6 billion US dollars, a clear sign of Wood's conviction in the future of Bitcoin and her ability to shine in the crypto market.
$BTC
#BTCETFSPOT #ARK21Shares #CathieWood
"Bitcoin is no different than gold."
Larry Fink, the head of BlackRock, praises Bitcoin as an international asset that can protect you from currency devaluation and economic problems.
He sees crypto as digitizing gold and creating new opportunities for investors.
What do you think?
#BTC #BlackRockInCrypto
$BTC
$
Larry Fink, the head of BlackRock, praises Bitcoin as an international asset that can protect you from currency devaluation and economic problems.
He sees crypto as digitizing gold and creating new opportunities for investors.
What do you think?
#BTC #BlackRockInCrypto
$BTC
$
Are you ready for the BitcoinETF ? 🚀
Today is a historic day for the crypto world, as the first spot BitcoinETFs have launched on the US stock market. According to Bloomberg, they have attracted a whopping 4 billion US dollars of inflows on their first day of trading, setting a new record for the largest ETF debut ever. 💰
This means that more and more investors are recognizing the potential of Bitcoin as a store of value, a hedge against inflation, and a digital alternative to gold. 🥇
But what exactly is a BitcoinETF, and why is it so important?
A BitcoinETF is an exchange-traded fund that tracks the price of Bitcoin directly, without the need for intermediaries, custodians, or complex technical processes. It allows investors to buy and sell Bitcoin on the same platforms where they trade stocks, bonds, and other securities. 📈
This makes Bitcoin more accessible, liquid, and transparent for the mainstream market, and lowers the barriers to entry for new adopters. It also signals a growing acceptance and legitimacy of Bitcoin by the regulators, institutions, and the public. 🙌
One of the leading providers of the Bitcoin ETF is BlackRock, the world’s largest asset manager with over 9 trillion US dollars under management. They have just released a video explaining how the BitcoinETF works and why it is a game-changer for the crypto industry. 🎥
If you are interested in investing in the BitcoinETF, or want to learn more about it, you can visit their website 💻
Don’t miss this opportunity to be part of the BitcoinETF revolution. It’s not too late to join the future of finance. 🔥
#BTC-ETF. #BlackRockInCrypto
$BTC
Today is a historic day for the crypto world, as the first spot BitcoinETFs have launched on the US stock market. According to Bloomberg, they have attracted a whopping 4 billion US dollars of inflows on their first day of trading, setting a new record for the largest ETF debut ever. 💰
This means that more and more investors are recognizing the potential of Bitcoin as a store of value, a hedge against inflation, and a digital alternative to gold. 🥇
But what exactly is a BitcoinETF, and why is it so important?
A BitcoinETF is an exchange-traded fund that tracks the price of Bitcoin directly, without the need for intermediaries, custodians, or complex technical processes. It allows investors to buy and sell Bitcoin on the same platforms where they trade stocks, bonds, and other securities. 📈
This makes Bitcoin more accessible, liquid, and transparent for the mainstream market, and lowers the barriers to entry for new adopters. It also signals a growing acceptance and legitimacy of Bitcoin by the regulators, institutions, and the public. 🙌
One of the leading providers of the Bitcoin ETF is BlackRock, the world’s largest asset manager with over 9 trillion US dollars under management. They have just released a video explaining how the BitcoinETF works and why it is a game-changer for the crypto industry. 🎥
If you are interested in investing in the BitcoinETF, or want to learn more about it, you can visit their website 💻
Don’t miss this opportunity to be part of the BitcoinETF revolution. It’s not too late to join the future of finance. 🔥
#BTC-ETF. #BlackRockInCrypto
$BTC
Are you ready for the next big thing in crypto? 💰
The first Bitcoin spot ETFs from ARK 21Shares and VANECK are now live, but trading is still on hold. 💥
This means that you will soon be able to invest in Bitcoin without buying or storing the actual coins. 🙌
According to the SEC, these ETFs will provide investors with more transparency, liquidity, and security in the crypto market. 🚀
What do you think of this news? Are you excited to invest in Bitcoin ETFs?
Let us know in the comments below! 👇
Source: SEC, Forbes
#etf #BTC #BTCETFSPOT
$BTC
The first Bitcoin spot ETFs from ARK 21Shares and VANECK are now live, but trading is still on hold. 💥
This means that you will soon be able to invest in Bitcoin without buying or storing the actual coins. 🙌
According to the SEC, these ETFs will provide investors with more transparency, liquidity, and security in the crypto market. 🚀
What do you think of this news? Are you excited to invest in Bitcoin ETFs?
Let us know in the comments below! 👇
Source: SEC, Forbes
#etf #BTC #BTCETFSPOT
$BTC
🔥Are you ready for the Bitcoin revolution? 🔥
The first Bitcoin spot ETFs will launch this Thursday, thanks to VanEck and other pioneers.
This is a historic moment for the crypto industry, as the SEC has finally given the nod to the most popular digital asset.
Cathie Wood, the legendary investor and CEO of ARK Invest, says this is a huge opportunity for institutional investors to join the Bitcoin bandwagon.
Don’t miss this chance to be part of the future of finance. 💯
#BitcoinETF💰💰💰 #ETFApprovalDreams #VanEckInsights #CathieDWood #CryptoNewsLand
$BTC
The first Bitcoin spot ETFs will launch this Thursday, thanks to VanEck and other pioneers.
This is a historic moment for the crypto industry, as the SEC has finally given the nod to the most popular digital asset.
Cathie Wood, the legendary investor and CEO of ARK Invest, says this is a huge opportunity for institutional investors to join the Bitcoin bandwagon.
Don’t miss this chance to be part of the future of finance. 💯
#BitcoinETF💰💰💰 #ETFApprovalDreams #VanEckInsights #CathieDWood #CryptoNewsLand
$BTC
🚨 Breaking News: The SEC is about to greenlight the first spot bitcoin ETFs in the US! 🚨
This means you could soon invest in bitcoin directly through your brokerage account, without the hassle of buying and storing the cryptocurrency yourself.
😎 According to CNBC, the decision could come as early as this weekend, and the ETFs could start trading as soon as next week.
🚀 Are you ready to join the crypto revolution?
💰 Comments what you think about this historic move. 👇
$BTC #etf #BTC
This means you could soon invest in bitcoin directly through your brokerage account, without the hassle of buying and storing the cryptocurrency yourself.
😎 According to CNBC, the decision could come as early as this weekend, and the ETFs could start trading as soon as next week.
🚀 Are you ready to join the crypto revolution?
💰 Comments what you think about this historic move. 👇
$BTC #etf #BTC
#BTC #🔥 Bitcoin rally causes 6 billion USD losses for short sellers in the sector
MicroStrategy, which has risen by over 300% this year, has increased the losses of the crypto shorts by another 1.4 billion USD.
📉 Traders who bet on price declines in crypto companies like Coinbase, MicroStrategy and Marathon have accumulated paper losses of 6 billion USD so far this year.
📈 The over 165% increase in Bitcoin drives the profits in crypto stocks, which are strongly linked to the price of the digital currency.
The optimism has increased the chances of a short squeeze, where growth forces the short sellers to buy back the stocks they have bet against, to exit their loss positions, which drives the stock prices even higher.
🏦 Coinbase has caused the most pain for short sellers who have bet against the sector this year. The 330% increase in the company has led to losses of about 3.5 billion USD.
TL;DR
+----------------------------------------------------------+
| |
| 🔥 Bitcoin Rally Burns Short Sellers 🔥 |
| |
| 📉 6 Billion USD Losses in Crypto Sector 📉 |
| |
| 📈 Bitcoin and Crypto Stocks Soar 📈 |
| |
| 🏦 Coinbase and MicroStrategy Lead the Charge 🏦 |
| |
+----------------------------------------------------------+
#BTC $BTC
MicroStrategy, which has risen by over 300% this year, has increased the losses of the crypto shorts by another 1.4 billion USD.
📉 Traders who bet on price declines in crypto companies like Coinbase, MicroStrategy and Marathon have accumulated paper losses of 6 billion USD so far this year.
📈 The over 165% increase in Bitcoin drives the profits in crypto stocks, which are strongly linked to the price of the digital currency.
The optimism has increased the chances of a short squeeze, where growth forces the short sellers to buy back the stocks they have bet against, to exit their loss positions, which drives the stock prices even higher.
🏦 Coinbase has caused the most pain for short sellers who have bet against the sector this year. The 330% increase in the company has led to losses of about 3.5 billion USD.
TL;DR
+----------------------------------------------------------+
| |
| 🔥 Bitcoin Rally Burns Short Sellers 🔥 |
| |
| 📉 6 Billion USD Losses in Crypto Sector 📉 |
| |
| 📈 Bitcoin and Crypto Stocks Soar 📈 |
| |
| 🏦 Coinbase and MicroStrategy Lead the Charge 🏦 |
| |
+----------------------------------------------------------+
#BTC $BTC
Security Alert: KyberSwap Faces Multi-Chain Hacking, $47M in Losses
In a recent development, KyberSwap, a decentralized exchange, is grappling with a widespread hacking incident across multiple blockchain networks.The breach has resulted in a staggering loss of $47 million. This alarming news is just 25 minutes old, prompting immediate action from users.Investors and users are strongly advised to take swift measures to protect their assets. As a precautionary step, it is recommended to revoke any permissions granted and remove liquidity from KyberSwap.The extent of the breach is still unfolding, and users should stay informed about the situation as it develops.The security of decentralized platforms remains a critical concern, and incidents like these underscore the importance of vigilant risk management within the rapidly evolving cryptocurrency space.Stay tuned for further updates on this developing situation.#FollowUsNow $BNB
South Korean Authorities Take Action Against Tax Evasion in the Cryptocurrency Space
In a recent development, financial regulators in Cheongju, South Korea, are intensifying efforts to combat tax evasion within the digital asset landscape.On August 22, as reported by the local news agency Yongap, city authorities in Cheongju initiated plans to seize digital assets from individuals engaging in tax evasion, particularly focusing on virtual asset holders on centralized exchanges who have neglected to fulfill their tax obligations.The city has launched an inquiry into seven prominent crypto exchanges, including industry leaders like Upbit and Bithumb. This inquiry seeks specific information, such as the portfolios of 8,520 users who owe the government a minimum of 1 million won ($750). The objective is to ensure transparency, address tax evasion, and bolster government revenue.Over the past few years, local administrations have expressed concerns about the misuse of digital assets for concealing property and evading taxes. To counter this, authorities have consistently collaborated with centralized exchanges to obtain the holdings of traders and investors. Despite such efforts, some users resort to alternative measures, such as privacy coins and decentralized exchanges, to maintain anonymity.South Korean authorities emphasize the critical need to curb tax avoidance, underscoring that citizens will be held accountable for their financial responsibilities. This proactive stance aims to foster compliance within the cryptocurrency ecosystem, aligning with the broader global trend of regulatory measures to ensure transparency and accountability in the rapidly evolving landscape of digital finance.#myfirstsquarearticle #myfirstsquarearticle #cz_binance $BTC $BNB
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CoinDesk
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U.S. Is Looking for Over $4B From Binance to End Criminal Case: Bloomberg
Binance Holding Ltd. would be asked to pay $4 billion to settle U.S. Department of Justice accusations of multiple criminal violations, according to a report from Bloomberg News on negotiations between the DOJ and the company, which are also leaving open the possibility that its founder Changpeng "CZ" Zhao would also face U.S. criminal charges.
Binance has been under a lengthy investigation by U.S. authorities for money laundering, bank fraud and violating U.S. sanctions laws, and the talks could reportedly conclude in the coming weeks.
A spokesperson with the DOJ declined to comment to CoinDesk. Binance didn't immediately respond to a request for comment.
Binance and CZ have faced investigations and accusations on multiple fronts in the U.S., including related enforcement actions earlier this year from the U.S. Securities and Exchange Commission and the Commodity Futures Trading Commission. If the company agrees to be fined by the U.S. for more than $4 billion, that would represent one of the largest settlements in crypto history, but it's uncertain what other conditions or business requirements may come along with that penalty, according to Bloomberg.
Were U.S. authorities to charge CZ, a resident of the United Arab Emirates, with crimes, he would have to be extradited from a country with a U.S. extradition treaty or set foot in U.S. territory in order to face those charges.
Read More: Binance Feels Strain of World’s Regulators Leaping Into Action
UPDATE (November 20, 2023, 18:00 UTC): Adds further detail about the potential settlement.
Binance has been under a lengthy investigation by U.S. authorities for money laundering, bank fraud and violating U.S. sanctions laws, and the talks could reportedly conclude in the coming weeks.
A spokesperson with the DOJ declined to comment to CoinDesk. Binance didn't immediately respond to a request for comment.
Binance and CZ have faced investigations and accusations on multiple fronts in the U.S., including related enforcement actions earlier this year from the U.S. Securities and Exchange Commission and the Commodity Futures Trading Commission. If the company agrees to be fined by the U.S. for more than $4 billion, that would represent one of the largest settlements in crypto history, but it's uncertain what other conditions or business requirements may come along with that penalty, according to Bloomberg.
Were U.S. authorities to charge CZ, a resident of the United Arab Emirates, with crimes, he would have to be extradited from a country with a U.S. extradition treaty or set foot in U.S. territory in order to face those charges.
Read More: Binance Feels Strain of World’s Regulators Leaping Into Action
UPDATE (November 20, 2023, 18:00 UTC): Adds further detail about the potential settlement.
