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๐Ÿš€ Buckle up, BTC enthusiasts! The Chicago Mercantile Exchange (CME Group) is reportedly planning to introduce spot Bitcoin trading, according to FT. This move is aimed at capitalizing on the growing interest in the crypto sector from Wall Street fund managers. ๐Ÿ“ˆ Spot Bitcoin trading is all about the immediate exchange of BTC for fiat currency or another cryptocurrency at current market prices. If CME's plan goes ahead, it could provide Wall Street investors with another avenue for accessing digital assets. ๐ŸŽฏ This move could also shake up the trading landscape. CME Group, already a leading player in Bitcoin futures trading, could pose a serious challenge to Binance, which currently dominates the spot market. ๐ŸฅŠ This development follows the US Securities and Exchange Commission's (SEC) approval of direct investment in Bitcoin stock funds earlier this year. CME Group has been a major player in the digital asset market for years, launching Bitcoin futures in December 2017 and micro-Bitcoin futures in May 2021. ๐Ÿฆ In August 2022, CME Group rolled out euro-denominated Bitcoin and Ether futures. However, these are cash-settled using its euro reference rate for each cryptocurrency, meaning no actual Bitcoin or Ethereum will be exchanged. ๐Ÿ’ถ So, keep your eyes peeled, folks! The crypto landscape is evolving, and it's more exciting than ever! ๐ŸŽ‰๐Ÿš€

๐Ÿš€ Buckle up, BTC enthusiasts! The Chicago Mercantile Exchange (CME Group) is reportedly planning to introduce spot Bitcoin trading, according to FT. This move is aimed at capitalizing on the growing interest in the crypto sector from Wall Street fund managers. ๐Ÿ“ˆ

Spot Bitcoin trading is all about the immediate exchange of BTC for fiat currency or another cryptocurrency at current market prices. If CME's plan goes ahead, it could provide Wall Street investors with another avenue for accessing digital assets. ๐ŸŽฏ

This move could also shake up the trading landscape. CME Group, already a leading player in Bitcoin futures trading, could pose a serious challenge to Binance, which currently dominates the spot market. ๐ŸฅŠ

This development follows the US Securities and Exchange Commission's (SEC) approval of direct investment in Bitcoin stock funds earlier this year. CME Group has been a major player in the digital asset market for years, launching Bitcoin futures in December 2017 and micro-Bitcoin futures in May 2021. ๐Ÿฆ

In August 2022, CME Group rolled out euro-denominated Bitcoin and Ether futures. However, these are cash-settled using its euro reference rate for each cryptocurrency, meaning no actual Bitcoin or Ethereum will be exchanged. ๐Ÿ’ถ

So, keep your eyes peeled, folks! The crypto landscape is evolving, and it's more exciting than ever! ๐ŸŽ‰๐Ÿš€

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๐Ÿš€Crypto enthusiasts, buckle up! The U.S. Supreme Court has unanimously ruled against Coinbase Inc. (COIN) in an arbitration dispute over its 2021 Dogecoin (DOGE) sweepstakes. ๐Ÿ•๐Ÿ’จ In a 9-0 ruling, the court clarified that when parties are governed by multiple contracts, it's up to the court to decide which legal agreement takes precedence. ๐Ÿ›๏ธ๐Ÿ“œ Coinbase had hoped to settle the dispute through arbitration, based on user agreements that mandate arbitration for all customers. However, a federal judge ruled that the sweepstakes terms, which specified California's court system for related disputes, overruled the customer agreement. ๐Ÿšซโš–๏ธ The Supreme Court upheld the lower court's authority, dismissing Coinbase's argument that ruling against them would lead to legal chaos and enable parties to dodge arbitration agreements. ๐ŸŽฏ๐Ÿ‘ฉโ€โš–๏ธ Richard Silberberg, an arbitration lawyer, noted that the decision was "hardly surprising" and confirmed that "a court, not an arbitrator, must decide whether the parties' first agreement was superseded by the second." ๐Ÿ“š๐Ÿ‘จโ€โš–๏ธ The dispute originated from a lawsuit by former Coinbase user David Suski, who claimed that the "Trade Doge, Win Doge" contest misled participants into thinking a $100 purchase or sale of Dogecoin was required to win cash prizes. However, the fine print revealed an alternative entry method via mail, avoiding the need for purchase. ๐Ÿ“ฌ๐Ÿ’ธ In response to the ruling, Coinbase's Chief Legal Officer Paul Grewal commented, "Some you win. Some you lose. We are grateful for having had the opportunity to present our case to the court and appreciate the court's consideration of this matter." ๐Ÿ™๐ŸŽข Stay tuned for more updates on this rollercoaster ride in the crypto world! ๐ŸŒ๐Ÿ’ซ
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๐Ÿš€๐Ÿš€Buckle up, BTC enthusiasts! The U.S. Congress may be warming up to crypto, but President Biden could still be a roadblock, says Senator Cynthia Lummis. ๐Ÿง In a recent interview, Lummis shared insights on Capitol Hill's evolving views on crypto and the parties still resisting pro-crypto legislation. The big question? Whether Biden will sign H.J.Res. 109 into effect. This resolution, which has bipartisan support, aims to repeal a prior SEC rule that made it tricky for regulated banks to offer crypto custody services. ๐Ÿฆ๐Ÿ’ผ Biden had threatened a veto, but the strong bipartisan backing for the act has some hoping he might change his tune. ๐ŸŽต๐ŸŽถ However, Lummis warns that the SEC had already cautioned her about a potential Biden veto. Now, she says, the White House will have to reconsider. ๐Ÿค” Meanwhile, two other crypto-focused bills, FIT21 and the CBDC Anto Surveillance State Act, have passed the House. FIT21 even secured a two-thirds majority vote, enough to override a potential presidential veto if the Senate shows equal support. ๐Ÿ“œ๐Ÿ‘ Lummis notes that bipartisan support for crypto is growing, but opposition still exists, mainly from the "progressive wing" of the Democratic party. ๐Ÿ˜ฌ Going forward, Lummis encourages the crypto industry to engage with their congresspeople and educate them about digital assets. She sees the 2024 political opportunity as a chance to establish a lasting framework for the digital asset industry. ๐ŸŽ“๐Ÿ“š So, will Biden veto pro-crypto legislation? The crypto world is watching! ๐Ÿ‘€๐Ÿฟ
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๐Ÿš€Buckle up, BTC enthusiasts! The defunct crypto exchange FTX has been caught red-handed, paying over $25M to six whistleblowers who unearthed some serious issues. ๐Ÿ˜ฒ And guess what? FTX still owes a whopping $11B to investors who suffered losses after its collapse. ๐Ÿ”An examination report by Robert Cleary revealed that one whistleblower, an FTX.US executive, blew the lid off FTX Group's deceptive practices. They claimed that the group misled regulators and investors and lacked a proper corporate structure. The whistleblower, after voicing their concerns, was told to apologize and later resigned, receiving a hefty $16M settlement. ๐Ÿ’ฐ ๐Ÿ”ฅAnother whistleblower, after less than two months of employment, alleged market manipulation and insider trading, and received a $1.8M settlement. A third whistleblower was offered a $200K settlement after alleging similar issues. ๐Ÿ‘€The report also revealed that FTX Group didn't maintain a comprehensive employee list and many employees resigned informally. ๐ŸŽญFormer FTX.US President Brett Harrison, who quit before the exchange's collapse, responded to the report, denying being a whistleblower or receiving a $16M settlement. ๐Ÿ”šFTX collapsed in November 2022 and has been undergoing bankruptcy since then. Its former CEO, Sam Bankman-Fried, was found guilty of defrauding FTXโ€™s customers, lenders, and investors, and was sentenced to 25 years in prison. Stay tuned for more updates, folks! ๐Ÿš€๐ŸŒ•
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๐Ÿš€๐Ÿš€Buckle up, Bitcoiners! Ondo Finance's ONDO token is on a tear, rocketing nearly 20% to an all-time high of $1.15 on May 24, 2024. ๐ŸŽ‰๐ŸŽ‰ This surge is largely credited to Coinbase adding ONDO to its perpetual market. ๐Ÿ“ˆ๐Ÿ“ˆDefiLlama data reveals that this increase has catapulted ONDO's market cap beyond a whopping $1.6 billion. On May 21, Ondo Finance also hit a peak total value locked (TVL) of $453 million, its highest level ever. ๐Ÿ”๐Ÿ”IntoTheBlock data shows a 52.3% rise in large transaction volumes for ONDO, with all holders currently in the green. A significant 92% of these holders are large ones, with around 63% of investors holding their tokens for periods between one and twelve months. ๐Ÿ“Š๐Ÿ“ŠSince mid-March, ONDOโ€™s price oscillated between $0.97 and $0.69 but broke out on Friday. A 10% rally ended the consolidation, pushing ONDO to an initial record high of $1.05. Now in a price discovery phase, investors expect the bullish momentum to continue driving it upward. ๐ŸŽฏ๐ŸŽฏThe rally came amid the U.S. Securities and Exchange Commission (SEC) approving spot Ethereum exchange-traded funds (ETFs). Despite the controversial impact on the rest of the market, ONDO is among the top performers on a daily scale. ๐Ÿš€๐Ÿš€Since its launch earlier this year, ONDO has seen strong demand and has rallied over 1,300% from its all-time low. Another major catalyst behind the ONDO price rally could be related to Coinbaseโ€™s addition of the asset to its perpetual market. ๐Ÿ”ฎ๐Ÿ”ฎFollowing the announcement, several market traders have issued bullish calls for ONDO. One emphasized that ONDO represents a potent โ€œETH betaโ€ set for attention soon. Another predicts an upcoming surge in the โ€œreal-world-asset narrative,โ€ highlighting ONDOโ€™s noteworthy performance. ๐ŸŽ‰๐ŸŽ‰So, here's to ONDO's continued ascent! Keep your eyes on the prize, Bitcoiners! ๐Ÿš€๐Ÿš€
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๐Ÿš€๐Ÿš€ Get ready, BTC enthusiasts! It's been a rollercoaster week in the crypto markets, with Ethereum stealing the limelight. ๐ŸŒŸ Last weekend was calm, but Monday evening shook things up when Bloomberg's ETF experts upped their prediction for the SEC approving spot Ethereum ETFs this week to 75%, from 25%. This sent shockwaves through the markets, with ETH skyrocketing over 20% from $3,100 to a multi-week peak of $3,800. ๐Ÿ“ˆ Bitcoin wasn't left behind, shooting up from $67,000 to a six-week high of almost $72,000 on Monday evening. However, both BTC and ETH failed to maintain their momentum towards the end of the week. The big news was that the SEC had indeed approved eight spot Ethereum ETFs for trading in the US, but both BTC and ETH dropped by more than 4% just hours before the ETFs were greenlighted. ๐Ÿ˜ฎ Despite this, ETH is still one of the top performers this past week, surging by 18%. Other big gainers include BONK (43% up) and PEPE, which charted a few consecutive all-time highs. ๐ŸŽ‰ In other news, the SEC approved spot Ethereum ETFs for public trading, spot Bitcoin ETFs saw strong inflows, and Grayscale CEO Michael Sonnenshein stepped down. Despite all the positive news around Bitcoin, the new addresses count has declined substantially in the past few weeks. ๐Ÿ“‰ So, hold on tight, BTC lovers! It's a wild ride, but we're optimistic about the future of Bitcoin. ๐Ÿ’ช๐Ÿš€๐ŸŒ•
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