Hong Kong is set to launch Asia's first inverse Bitcoin ETF, allowing investors to bet on a fall in the cryptocurrency ¹ ² ³ ⁴ ⁵.
Key Details:
- Launch Date: The CSOP Bitcoin Futures Daily (-1x) Inverse Product will launch on July 23 ¹ ² ³ ⁵.
- Inverse ETF: The ETF is expected to take advantage of rising demand to profit from the volatile trading of cryptocurrencies ¹ ³.
- Bitcoin Volatility: Bitcoin has been the most erratic among major global assets in the last ten years, with volatility as high as 38.3% in 2023 ¹ ³.
- CSOP Asset Management: The ETF is managed by CSOP Asset Management, with HSBC as the trustee ⁵.
- Annual Fee: The ETF charges a 1.99% annual fee ⁵.
- Assets Under Management: The ETF aims to attract $50-100 million in assets under management in 1-2 years ⁵.
$BTC
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Ethereum ETFs (Exchange-Traded Funds) are finally coming to the market on July 23, 2024. This marks a significant milestone for the cryptocurrency industry, as it will allow investors to gain exposure to Ethereum through a traditional investment vehicle.
Here are the key details you need to know:
- Five spot Ethereum ETF products will begin trading on the Chicago Board Options Exchange (CBOE) on July 23, 2024.
- These ETFs will track the price of Ethereum, allowing investors to buy and sell shares that represent a fraction of the cryptocurrency.
- The ETFs will be backed by physical Ethereum holdings, which will be stored in secure wallets.
- Investors will be able to trade the ETFs through their brokerage accounts, just like they would with any other stock or ETF.
- The introduction of Ethereum ETFs is expected to bring more mainstream attention and investment to the cryptocurrency market.
The approval of Ethereum ETFs is a significant development for the cryptocurrency industry, as it marks a major step towards mainstream acceptance and adoption. It's expected to bring more liquidity and investment to the market, which could lead to increased prices and further growth.
However, it's worth noting that the introduction of Ethereum ETFs also raises some concerns, such as:
- Regulatory risks: The approval of Ethereum ETFs is subject to regulatory approval, and there is always a risk that regulators could change their minds or impose stricter regulations in the future.
- Market volatility: The cryptocurrency market is known for its volatility, and the introduction of Ethereum ETFs could lead to increased price swings.
- Security risks: The storage of physical Ethereum holdings poses security risks, and there is always a risk of hacking or theft.
Overall, the introduction of Ethereum ETFs is a significant development for the cryptocurrency industry, and it will be interesting to see how the market reacts to this new investment opportunity.
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In Pakistan, People's are encountered three P2P forward disputes on Binance, not due to buyer complaints, but because their accounts were blocked, which in turn led to my account being blocked. Each dispute had common factors: the buyers engaged in deals outside of Binance, received payments from others, bought USDT from me, and then sold it at a higher rate elsewhere.In all three cases, the buyers were new and made transactions outside of Binance. They negotiated deals, received money from third parties, purchased USDT from me, and sold it without securing proof or sources of funds from those they transacted with. Subsequently, the original senders of the funds filed fraud complaints against the buyers, resulting in the buyers' accounts being blocked and subsequently my account as well. In one dispute, after investigation, the payment was credited to my account as one buyer settled with the sender. However, in the remaining two cases, the buyers did not settle, and I had to reverse the payments for the disputed transactions.Binance implements robust security measures for merchants, but many users try to buy USDT from Binance and sell it outside the platform. To ensure safer transactions when selling on Binance P2P, always obtain a video statement and the buyer's mobile number. The CNIC is less valuable in these cases. A video statement provides more substantial evidence of a legitimate transaction. Alternatively, record a video of their transaction history from the last 24 hours. If the payment is received in their account, request the CNIC of the person who sent the funds, or cancel the trade. This approach is safer and helps to avoid disputes.Taking these precautions will help protect your account and ensure more secure transactions on Binance P2P. It is crucial to stay vigilant and ensure all necessary evidence is collected to avoid the complications I experienced.
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Binance gets greenlight to invest customer assets in US Treasury Bills
Binance, the world's largest cryptocurrency exchange, has received permission to invest customer assets in US Treasury Bills. This move marks a significant milestone for the company, as it seeks to expand its offerings and provide more traditional investment opportunities to its users.
According to a recent court filing, Binance has been granted permission to invest customer funds custodied at BitGo in Treasury Bills maturing on a four-week basis. This means that Binance will be able to use customer assets to purchase US Treasury Bills, which are considered to be one of the safest investments in the world.
The move is seen as a positive development for Binance, as it seeks to build trust with regulators and expand its offerings to include more traditional investment products. The company has been working to improve its relationships with regulators in recent months, and this move is seen as a significant step forward.
It's worth noting that Binance will only be able to invest customer assets in Treasury Bills with the explicit consent of the customer. This means that customers will have the option to opt-out of the program if they do not want their assets invested in this way.
Overall, this news is a positive development for Binance and the cryptocurrency industry as a whole. It marks a significant step forward in the development of more traditional investment products for cryptocurrency users, and demonstrates Binance's commitment to building trust with regulators and expanding its offerings to include more traditional investment opportunities.
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South Korea's First Crypto Investor Protection Law
South Korea has enacted its first crypto investor protection law, the Virtual Asset User Protection Act, which came into force on July 19, 2024 ¹. The law aims to protect crypto investors and prevent unfair trading practices ¹. Here are some key points about the law:
- Definition of Digital Assets: The law defines digital assets as electronic tokens with economic value that can be traded or transferred electronically ¹.
- Exclusions: The law excludes non-fungible tokens and central bank digital currencies ¹.
- Protection of Users' Funds: Crypto exchange operators must deposit users' funds in financial institutions, such as banks, to protect them in the event of bankruptcy ¹.
- Insurance and Reserves: Exchanges must also pay interest on these deposits and obtain insurance or set aside reserves to cover potential losses ¹.
- Cold Wallets: Exchanges are required to keep some of their users' virtual assets in cold wallets to protect against hacking and system failures ¹.
- Monitoring and Reporting: Exchanges must monitor and report abnormal transactions, such as unusual price movements or trading volumes, to financial authorities ¹.
- Penalties: Violation of the new rules is subject to fixed-term imprisonment of not less than one year or major fines ².
Background
The law was passed in response to the Terra-Luna crash and FTX's collapse, which highlighted the need for greater regulation and protection for crypto investors ¹. South Korea has been actively working to regulate the crypto industry, with the Financial Services Commission (FSC) and the Bank of Korea playing key roles in overseeing crypto operators and custodians ³.
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BREAKING: 🇺🇸 Rumours growing that Trump will announce a Bitcoin Strategic Reserve policy for the United States next week.
I think next week will be highly volatile due to the Eth etf trading start in next and Trump will announce a Big bitcoin announcement in Bitcoin conference in Nashville. These two big events will happen in next week so be ready guys for a volatile move.$BTC
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- $234 Million Drained From Indian Exchange WazirX: WazirX, an Indian cryptocurrency exchange, has been hacked, resulting in a loss of $234 million. The exchange has suspended withdrawals.
- Stablecoins and Illicit Transactions: A recent report by Chainalysis found that stablecoins make up the majority of illicit transaction volumes.
- Robinhood “Refer-A-Friend” Settlement: A judge has approved a $9 million settlement deal between Robinhood and a group of plaintiffs in a class-action lawsuit related to the company's "refer-a-friend" program.
- Ethereum Enterprise Alliance Releases Standard for DeFi Protocols: The Ethereum Enterprise Alliance has released the first standard for DeFi protocols, which aims to provide a framework for the development of decentralized finance protocols.
- OKX Chooses Malta as MiCA Hub: OKX, a cryptocurrency exchange, has chosen Malta as its MiCA (Markets in Crypto-Assets) hub, which will serve as the company's base for compliance with EU regulations.
- Judge Reduces Sentencing for Ethereum Developer Virgil Griffith: A judge has reduced the sentencing for Ethereum developer Virgil Griffith by seven months.
- Bankrupt Crypto Lender BlockFi to Initiate Temporary Distribution via Coinbase: BlockFi, a bankrupt cryptocurrency lender, is set to initiate a temporary distribution of assets via Coinbase.
- South Korean Prosecutors Request Crypto Market Maker Arrest Warrant: South Korean prosecutors have requested an arrest warrant for a cryptocurrency market maker in connection with an altcoin fraud case.
- Nigerian Police Arrests Crypto Influencer BLord: Nigerian police have arrested a cryptocurrency influencer, BLord, for alleged crypto fraud and offenses.
- Greek Government to Impose Crypto Taxes Starting 2025: The Greek government has announced plans to impose taxes on cryptocurrency profits starting in 2025.
#wazirX
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🇺🇸 Senator Bob Menendez found guilty in corruption trial for taking bribes in gold and cash.

Back In 2017 he said #Bitcoin "is an ideal choice for criminals." 🤡
CriminalFounded Guilty

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The crypto market has witnessed a significant development in the realm of exchange-traded funds (ETFs). The price movements of Bitcoin (BTC) have been found to have a profound impact on the inflows and outflows of spot Bitcoin ETFs. This discovery has sent ripples throughout the investment community, with many analysts and investors taking notice.
According to recent data, the inflows and outflows of spot Bitcoin ETFs have been closely tied to BTC's price movements. When BTC's price surges, investors have been quick to pour money into spot Bitcoin ETFs, leading to significant inflows. Conversely, when BTC's price drops, investors have been just as swift to withdraw their funds, resulting in substantial outflows.
This correlation has significant implications for investors and market analysts. For one, it highlights the importance of monitoring BTC's price movements for those invested in spot Bitcoin ETFs. Furthermore, it underscores the impact of market sentiment on investment decisions.
BlackRock and Fidelity's ETFs have seen the largest inflows, with many investors opting for these well-established financial institutions. However, other ETF providers have also witnessed substantial inflows, indicating a broader trend in the market.
As the crypto market continues to evolve, the relationship between BTC's price movements and spot Bitcoin ETF inflows and outflows will be closely watched. Investors and analysts alike will be keen to see how this correlation develops in the future.
In conclusion, the connection between BTC's price movements and spot Bitcoin ETF inflows and outflows is a significant discovery that has far-reaching implications for the investment community. As the market continues to shift and adapt, one thing is certain – the importance of monitoring BTC's price movements has never been more pronounced.
$BTC
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SEOUL, South Korea - In a significant development in the ongoing investigation into Hancom's alleged crypto slush fund, South Korean prosecutors have requested an arrest warrant for the company's CEO. This move marks a major escalation in the case, which has been making headlines in the crypto community.
According to reports, the prosecutors allege that the CEO was involved in creating and managing a "crypto slush fund" within the company, which was used to embezzle funds and manipulate the market. The exact details of the allegations are still unclear, but the request for an arrest warrant suggests that the evidence against the CEO is substantial.
Hancom, a well-known technology company in South Korea, has been under investigation for several months now. The company has denied any wrongdoing, but the investigation has already led to the resignation of several high-ranking executives.
The crypto community is watching this case closely, as it has implications for the broader industry. If the allegations are true, it would be a major scandal, highlighting the need for greater transparency and accountability in the crypto space.
The outcome of this case will have significant consequences for Hancom, its executives, and the crypto industry as a whole. As the investigation continues, one thing is certain - the spotlight is on South Korea's crypto regulations and the need for stricter oversight.

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In a surprise move, former President Donald Trump is reportedly considering Jamie Dimon, a well-known Bitcoin skeptic, for a key role in his potential future administration. Dimon, the current CEO of JPMorgan Chase, has been a vocal critic of cryptocurrencies, particularly Bitcoin, on several occasions.
According to sources close to the matter, Trump is eyeing Dimon as a potential candidate for Secretary of the Treasury in the event of a presidential comeback in 2024. Dimon's potential appointment has sparked mixed reactions within the crypto community, with some expressing concerns over his anti-crypto stance.
Dimon has previously called Bitcoin a "fraud" and stated that it would not survive. Under his leadership, JPMorgan Chase has also developed its own digital currency, JPM Coin, which has been seen as a rival to decentralized cryptocurrencies like Bitcoin.
The potential appointment of Dimon as Treasury Secretary has raised questions about the future of crypto regulation in the United States. While some see Dimon's experience in traditional finance as an asset, others fear his anti-crypto views could lead to stricter regulations and hinder the growth of the industry.
Only time will tell if Trump will indeed appoint Dimon and how it would impact the crypto space. One thing is certain, though - the crypto community will be watching closely.

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