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.

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.

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.

whiles the coins go bearish let's our picture go bulish lol. Godspeed #coinforspot #BinanceTournament #LayerZero #cosbullish

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

Is a $1 ADA Price Achievable in March 2024?
ADA / Supply held by top 1% adresses
ADA / Supply held by top 1% adresses
Throughout the month, ADA’s price has exhibited a tight consolidation around the $0.75 range, indicating potential strength accumulation by the bulls. This consolidation may pave the way for a bullish breakout beyond the interim threshold of $0.8. Taking a longer-term perspective, the token remains under a pronounced bullish influence, adhering to a bullish pattern and potentially reaching the milestone of $1 at any point this month.

Related: Cardano Enters Top 10 Leading Blockchains for NFT Transactions

A closer look at the weekly chart reveals that ADA’s price is progressing towards the $1 mark by overcoming a critical resistance at $0.98. This upward movement could extend to the significant resistance zone ranging from $1.187 to $1.24, buoyed by bullish signals from technical indicators. The Bollinger bands, displaying a similar expansion to the 2021 breakout, suggest a sustained strong ascending trend with minimal bearish activity, even though the impact may be less pronounced.

Furthermore, the RSI residing within the bullish range signals increasing strength among the bulls. As a result, there is a substantial possibility of Cardano (ADA) reaching $1 at some point this month, potentially igniting a healthy run in the days to come.

Cryptocurrency Investment Profits Soar in 2023: CoinLedger Report Reveals Surprising Data
By AZC News  Discover the astonishing average profits from cryptocurrency investments in 2023 according to CoinLedger's latest report.In 2023, the average profits from cryptocurrency investments have been disclosed, bringing surprising revelations. CoinLedger, a cryptocurrency tax software platform, conducted research revealing that the average cryptocurrency investor earned $887.60 in 2023, marking a significant improvement compared to the tumultuous year prior.Analysis and Insights The year 2022 was marked by volatility in the cryptocurrency market, with investors facing average losses exceeding $7,000 following the collapse of several cryptocurrency companies and a severe bear market. However, 2023 witnessed a notable turnaround, with expert analysis indicating a market recovery and opportunities for investors amidst ongoing fluctuations. David Kemmerer, CEO of CoinLedger, expressed optimism regarding the cryptocurrency market's recovery, stating, "It's evident that the cryptocurrency market is bouncing back." He emphasized the resilience of the cryptocurrency ecosystem following the collapse of FTX, indicating a significant asset price downturn. This recent recovery underscores the industry's potential for resurgence. poinLedger's report compiled statistics from a specialized user base of over 500,000 cryptocurrency investors. A majority (80%) of CoinLedger users hail from the United States, with 6% from Australia, 5% from Canada, and 9% from other countries. Ethereum emerged as the most traded cryptocurrency by transaction volume among CoinLedger users in 2023. Solana, Bitcoin, BNB, and Polygon followed suit, capturing the remaining top assets. Despite Bitcoin being the most popular cryptocurrency globally, it ranks third in terms of trading volume, CoinLedger reported. The data unveiled regarding the average profits from cryptocurrency investments in 2023 showcases a significant upturn compared to the preceding year's challenges.

We are thrilled to share a momentous achievement in the history of Snowman Meme Coin. On January 30th, at 10 AM UTC, we’ll be taking a giant leap forward in our journey as Snowman (SNOW) is set to make its debut on Poloniex.

The Power of Community-Driven Innovation

Snowman’s journey has been fueled by the collective efforts and passion of our vibrant community – the Snowmen. It’s your belief in our vision, your dedication to our principles of fairness and decentralization, and your commitment to making a difference that have brought us to this point.

A Celebration of Progress

As we take this moment to celebrate this remarkable achievement, let’s reflect on how far we’ve come. From our fair launch to our commitment to transparency, Snowman Meme Coin embodies the spirit of progress and community-driven innovation.

A New Chapter Begins

The listing on Poloniex opens up new possibilities for Snowman Coin. It provides us with broader exposure to the crypto world and offers an opportunity to welcome new members into our growing community. It’s a validation of our hard work, a symbol of our resilience, and a testament to our belief that decentralized innovation deserves its place in the crypto ecosystem.

Join Us in Celebrating

Mark your calendars for January 30th at 10 AM UTC, and join us as we celebrate this incredible achievement. The journey of Snowman Meme Coin is just beginning, and together, we’re shaping a future where decentralization and innovation are at the forefront.

Thank you, Snowmen, for being an integral part of this extraordinary journey. Let’s make history together!