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RoasRikky
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whiles the coins go bearish let's our picture go bulish lol. Godspeed
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Asset management giant Franklin Templeton is partnering with SBI Holdings to establish a new cryptocurrency exchange-traded fund (ETF) management company in another major development for crypto ETFs. The two firms officially signed a Memorandum of Understanding (MoU) for the joint venture on July 26, according to an announcement shared with Cointelegraph. The new Japanese asset management firm aims to offer the “new generation of investors” greater access to more diversified investment vehicles, according to Jenny Johnson the president and CEO of Franklin Templeton, who wrote: “The extensive reach of SBI’s iconic brand amongst younger audiences in Japan aligns well with our commitment to help this new generation of investors achieve their goals through our future-focused investment solutions. This strategic partnership underscores our shared belief that best-in-class financial capabilities should be more accessible to investors.” The new joint venture could offer young investors more access to crypto-based ETFs and introduce newfound capital for the underlying digital asset that can contribute to its price appreciation. The announcement came shortly after the launch of the first spot Ether ETFs in the United States, which went live for trading on July 23.
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UAE Leads the World in Cryptocurrency Adoption
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Hut 8 Secures $150 Million Funding to Venture into AI Several Bitcoin mining companies have increasingly vocalized their diversification strategies following the Bitcoin halving, with many venturing further into artificial intelligence. Hut 8 is among them, recently announcing plans to build a high-performance computing (HPC) sector to support AI applications. On Monday, the company revealed it had secured $150 million in funding through convertible bonds from technology-focused investment firm Coatue Management. The investor believes that the mining company is well-positioned to enhance its newcomputational capabilities and advance its AI segment Indeed, Hut 8 CEO Asher Genoot told Blockworks that he sees “hundreds of megawatts of opportunity”to expand upon the company’s existing footprint in this area. He explained,“We believe that scale is significant in meeting some of the current market demands while providing us with ample capacity and growth in our Bitcoin mining operations.” According to Yahoo Finance, Hut 8’s stock surged over 12% on Tuesday and climbed an additional 5% on Wednesday. Core Scientific’s stock has also soared in recent weeks,thanks to a 12-year hosting contract with CoreWeave. Hut 8’s competitor announced it will host NVIDIA GPUs for the cloud provider’s HPC operations, which could potentially generate an annual revenue opportunity of $290 million.Related: Bitcoin Developer Burak Unveils Layer-2 Solution Brollups The Texas-based mining company built on that agreement on Tuesday, stating in a press release that it will provide an additional 70 MW to CoreWeave. While both companies are seeking new revenue streams after the April halving event reduced mining rewards per block from 6.25 BTC to 3.125 BTC, they remain committed to Bitcoin mining. Hut 8 plans to develop its business operations in tandem, though it may adopt a contrarian approach to BTC,according to its CEO.Genoot added,“We don’t necessarily expand when others are expanding.
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Bitcoin Developer Burak Unveils Layer-2 Solution Brollups A well-known Bitcoin developer, who previously identified a vulnerability in the Lightning Network, leading to an urgent update in 2022, is now researching a new Bitcoin Layer 2 solution. This new layer aims to enhance decentralized finance (DeFi) use cases by making financial transactions on Bitcoin more efficient. The developer, known as “Burak,” introduced a concept called “Brollups.” Brollups represent a Layer 2 design that aggregates Bitcoin transactions without requiring a hard fork or introducing non-Bitcoin tokens. In a recent Medium post from June 21, Burak mentioned that Brollups are still in the design phase. He also indicated that testnet deployment (signet) could happen by the end of this year. Brollups aim to support over 90% of DeFi use cases upon their release. Whether it’s listing NFTs for sale in exchange for Bitcoin or placing token sell orders on a decentralized exchange, all these actions can be executed atomically, verified, and scaled on the Bitcoin network. Burak emphasized that Brollups are deeply integrated with Bitcoin and operate natively within its structure. These Brollups will be managed by “operators” who provide liquidity to the protocol and maintain overall state consistency by periodically bundling Bitcoin transactions. Certainly! Let me provide a more concise and clear version of the information you shared: A well-known Bitcoin developer, who previously identified a vulnerability in the Lightning Network, leading to an urgent update in 2022, is now researching a new Bitcoin Layer 2 solution. This new layer aims to enhance decentralized finance (DeFi) use cases by making financial transactions on Bitcoin more efficient. The developer, known as “Burak,” introduced a concept called “Brollups.” Brollups represent a Layer 2 design that aggregates Bitcoin transactions without requiring a hard fork or introducing non-Bitcoin tokens.In a recent Medium post from June 21, Burak mentioned that Brollups are still in the design phase.
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Will Arbitrum Price Decrease After Major Token Unlock?An algorithmic trading firm acquired a substantial 17.08 million ARB tokens, with market sentiment suggesting that the token unlock may not lead to a significant price downturn. Table of ContentsWintermute Trading, a marketplace broker, just added the Arbitrum [ARB] token to the list with a value of $36.3 million, ahead of its scheduled unlock on March 16.Information from Spot On Chain has shown that this is not the first time the market has bought this code. Currently, Wintermute Trading holds a total of 29.48 million ARB. Token unlocking involves putting previously locked tokens into circulation, resulting in an increase in supply. However, if demand is not enough to satisfy the new supply, the price of this cryptocurrency may decline.A post explaining how a market maker bought many Arbitrum tokensSource: XArbitrum Token Unlocking ProgramThe Arbitrum token unlocking program is considered one of the most important events of the year. The Ethereum Layer 2 project is expected to issue 1.45 billion tokens on that date, representing 15.7% of total supply and valued at $2.93 billion.From the point of view of market brokers, the unlocking of Arbitrum’s tokens may not cause a price drop. In this case, the price decline may not last long due to confidence in the recovery.At the time of writing, ARB’s price is $2.01, down 6.50% in the last 24 hours. Despite the recent withdrawal, views on the project have changed. The sentiment around ARB has turned from negative to positive, as shown by tracking comments on the Arbitrum project. Therefore, the discussion about ARB on informationplatformsisbecomingoptimistic.Therefore, traders can place a high degree of confidence in long positions. Additionally, the significant change in the number of ARB holders is also an important factor.Chart showing an increase in the number of Arbitrum (ARB) holders as token unlock nearsSource: SantimentMaybe just the beginning?Three months ago, the number of ARB holders was 985,000, but as of now, this number has increased to 1.17 million
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