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💰 Google to tweak crypto ad policy, amplify Bitcoin ETF visibility
Google, a subsidiary of tech conglomerate Alphabet, is on the verge of a significant policy update set to take effect on Jan. 29, which could alter the landscape of cryptocurrency advertising. Now that the U.S. Securities and Exchange Commission’s (SEC) approved 11 spot Bitcoin (BTC) ETFs on Jan. 10, Google is expected to amend its rules and enable asset managers to advertise these products to a broader U.S. audience.
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🇺🇸 CFTC Chair calls for comprehensive regulation for digital assets following ETF approvals
In a detailed speech delivered in Naples on Jan. 26, CFTC Chair Rostin Behnam said regulators need to ramp up their efforts to supervise the budding cryptocurrency industry following the approval of Bitcoin ETFs, which does not imply the sector is regulated. Benham expressed significant concerns regarding the current state of cryptocurrency and digital asset regulation.
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💰 Celsius billion-dollar Ethereum shift stirs speculation on creditor payback plans
Bankrupt crypto lending platform Celsius has shifted 459,561 Ethereum (ETH), valued at over $1 billion, to centralized exchanges, including Coinbase, Paxos, and FalconX, in the past 24 hours, per on-chain data. In detail, more than 300,000 ETH, equivalent to $673 million, was sent to Coinbase Prime. The firm also moved 146,507 ETH, valued at around $323.3 million, to Paxos, and another 7,800 ETH, worth $17.2 million, were transferred to FalconX.
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💰 Bitcoin Mining Rig Manufacturer Canaan Raises $50 Million Through Preferred Shares Sale
In a recent disclosure to the U.S. Securities and Exchange Commission (SEC), Canaan, a publicly traded manufacturer of bitcoin mining rigs, announced it has secured $50 million through the sale of preferred shares. This follows a successful acquisition of $25 million in a similar preferred share sale conducted by Canaan last year.
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💰 Bitwise Leads the Way as First US Bitcoin ETF to Publicly Disclose Wallet Address
On Wednesday, Jan. 24, 2024, Bitwise, a leading digital asset manager, made a groundbreaking announcement as the first U.S. spot bitcoin exchange-traded fund (ETF) to reveal its bitcoin wallet address. Emphasizing its commitment to transparency, Bitwise stated, “proud to walk the walk with BITB,” and affirmed that “onchain transparency is core to Bitcoin’s ethos.”
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🇺🇸 IRS adds cryptocurrency income tax question to four more tax forms
The IRS on Jan. 22 reminded all taxpayers to answer a question about digital assets and report all digital asset-related income. The IRS defined digital assets as including convertible virtual currency and cryptocurrency, stablecoins, and non-fungible tokens (NFTs). The latest update notably expands the number of forms that include the question. Originally, the question appeared on three variants of the Form 1040 income tax return aimed at individuals, seniors, and non-resident aliens.
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📣 TrueUSD’s slip from $1 peg deepens amid broader sell-off as FDUSD thrives
TrueUSD (TUSD) deviation from its $1 peg has widened under the current red market situation. Data from CryptoSlate shows that the stablecoin dipped as low as $0.9778 in the past 24 hours, coinciding with substantial sell-offs seen in the major cryptocurrencies like Bitcoin and Ethereum. On Jan. 16, CryptoSlate highlighted increased volatility in TUSD’s value as holders opted to liquidate their assets in favor of competing stablecoins like Tether’s USDT.
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💰 Bitcoin (BTC) Price to Drop Below $40,000, Predicts Arthur Hayes
BitMEX co-founder Arthur Hayes believes Bitcoin will drop below $40K after the U.S. Treasury quarterly refunding announcement. Arthur Hayes, the co-founder of the BitMEX cryptocurrency exchange, has adopted a pessimistic view of Bitcoin, predicting a decline in its value below the $40,000 threshold. Arthur Hayes, the co-founder of the BitMEX cryptocurrency exchange, has adopted a pessimistic view of Bitcoin, predicting a decline in its value below the $40,000 threshold. `
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📊 FDUSD Market Cap Skyrockets by $1 Billion in 2024, Clinching Top 4 Stablecoin Spot
According to statistics, the stablecoin crypto asset FDUSD has seen its market capitalization grow by $1 billion since the start of the year. Presently, the supply stands at 2.614 billion FDUSD after witnessing a 45.7% supply increase in 30 days.
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💰 SEC opens comment period on proposal that would allow options trading on BlackRock's spot bitcoin ETF
The Securities and Exchange Commission asked for comments from the public about a proposal from Nasdaq that would allow for options trading on BlackRock's spot bitcoin ETF. "The Exchange proposes to amend Options 4, Section 3, Criteria for Underlying Securities, to allow the Exchange to list and trade options on iShares Bitcoin Trust (the 'Trust') as a Unit deemed appropriate for options trading on the Exchange," the filing stated.
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💰 Bitcoin miners enter $482m buying spree amid BTC price slump
Bitcoin price dipped to a 40-day low of $40,700 on Jan 19, sparking concerns of major liquidations if it loses the $40,000 support. Since the much-anticipated spot ETF approval verdict, Bitcoin (BTC) has delivered sideways price performance. Another sell-off wave on Jan. 19 saw prices tumble toward $40,000 for the first time since mid-December.
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🪙 Vitalik Buterin Debates Over Blockchain Scaling Terminology
Ethereum co-founder Vitalik Buterin has once again returned to a discussion within the blockchain community over the classification of layer-two scaling solutions. Much of the debate has centered around the distinction between various layer-two approaches, particularly focusing on the security aspects and architectural differences of various systems.
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✖️ dYdX native token surpasses $3 as it becomes top DEX by daily volume
The DYDX token, the native token of the decentralized trading platform dYdX Chain, is trading above $3 for the first time this year after the platform became the largest DEX by daily volume. Data from CoinMarketCap shows that the platform’s v4 version, based on the interchain protocol Cosmos, achieved an impressive 24-hour trading volume of nearly $565.85 million. This surpassed Uniswap v3’s Ethereum market, which recorded a volume of $458.46 million in the same timeframe.
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🪙 Ripple’s Brad Garlinghouse Cancels US IPO Plan
Ripple’s CEO Brad Garlinghouse has announced suspending plans for an initial public offering (IPO) in the United States. Citing a “hostile” regulatory environment, Garlinghouse revealed that Ripple had explored alternative markets for its IPO, pointing to jurisdictions with clearer regulatory frameworks.
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💰 Coinbase Prime hot wallet leads weekly Bitcoin trading with $11.4 billion volume
Coinbase Prime, the crypto platform explicitly designed for institutional investors, trusts, and high-net-worth individuals, has seen a dramatic increase in trading activity following the U.S. spot Bitcoin ETFs launch.
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💰 Criminal charges against ex-Celsius CEO must stick, prosecutors say
U.S. prosecutors have pushed back against former Celsius CEO Alex Mashinsky’s motion to dismiss two criminal charges brought against him. Prosecutors argued that the charges, which include commodities fraud and market manipulation, show Mashinsky’s intention to mislead investors about his crypto platform’s profitability and business practices and manipulate the market for Celsius’ proprietary CEL token.
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🏦 Coinbase Upgraded by Oppenheimer as Crypto Exchange Is 'Stronger Than Many People Realize'
Shares of Coinbase (COIN) rose as much as 6% on Friday after investment bank Oppenheimer raised the rating of the stock to “outperform” from “perform” with a price target of $160 per share, arguing that the company is strong and its management team is tough. "The stock was under extreme scrutiny during crypto winter. While many peers went under, COIN is still standing and fighting for its businesses and the industry.
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💰 The market is absorbing enormous selling pressure with little movement
The volatility caused by the launch of spot Bitcoin ETFs in the U.S. has wiped over $115 billion off Bitcoin’s market cap. There has been a significant increase in realized losses in the week following the ETF launch, with short-term holders bearing the brunt of these losses. Significant outflows from Grayscale’s GBTC.
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💰 Bitcoin ETFs to Likely Divert Users and Trading Volumes Away from CEXs, Says Anthony Bevan
Recently approved spot bitcoin exchange-traded funds (ETFs) are likely to divert investor interest and trading volume away from centralized exchanges (CEXs), according to Anthony Bevan, CEO of the wealth management firm Blockguard. Bevan, a full-time trader and investor, added that spot bitcoin ETFs are likely to attract investors who are keen on “more regulated and mainstream investment avenues.”
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💰 FTX sold nearly $1 billion of Grayscale spot bitcoin ETF shares: report 📉
Defunct cryptocurrency exchange FTX has sold nearly $1 billion worth of shares in Grayscale's GTBC fund since the firm's instrument began trading recently as a spot bitcoin ETF, according to CoinDesk, which cited "private data" and anonymous sources. Bloomberg Intelligence senior ETF analyst Eric Balchunas posted data over the weekend showing that Grayscale's fund had shed $2.8 billion since trading began.
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• 📉 Market Downtrend: Solana (SOL) and Cardano (ADA) lead a decline in the crypto market, with a 5% drop in the past 24 hours.
• 🐕 Dogecoin Fluctuation: DOGE initially resisted the market trend, spurred by potential adoption on a social app, but later followed the downtrend.
• 💔 Bitcoin’s Support Break: Bitcoin lost its $41,000 support level, with predictions of dropping to $38,000, influencing broader market losses.
• 🚨 Grayscale’s GBTC Impact: Analysts, including Bloomberg’s Eric Balchunas, link bitcoin’s recent decline to potential sales from Grayscale’s GBTC ETF.
• 💼 Grayscale Movements: Over $400 million worth of bitcoin was moved to Coinbase Prime, hinting at possible sales.
• 📈 Contrasting ETF Trends: New bitcoin ETFs like BlackRock’s IBIT and Fidelity’s FBTC show over $1 billion in inflows, indicating buying interest.
#CryptoMarket #Solana #Cardano #Bitcoin #Grayscale #ETFs #MarketTrends 🌐💰🔻
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🏦 Coinbase has 70% chance of full dismissal in SEC lawsuit — Litigation analyst
Bloomberg senior litigation analyst Elliott Stein has indicated he sees minimal likelihood of failure for cryptocurrency exchange Coinbase in its ongoing lawsuit against the United States Securities and Exchange Commission (SEC). Stein forecasts a 70% chance of the exchange securing a full dismissal in the lawsuit. The SEC alleges that by staking customer assets, earning rewards on their behalf and returning them, Coinbase is engaging in offering and selling investment contracts, thereby falling under SEC regulation.
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💰 GBTC's Mixed Fortune: 54% Market Share in ETF Trade Volume Accompanied by $2 Billion BTC Exodus
U.S. market, nine newly launched spot bitcoin exchange-traded funds (ETFs), along with the recently revamped GBTC, collectively saw a trading volume of $16.53 billion. GBTC, commanding the majority of this trade volume, experienced a substantial reduction in its bitcoin holdings. In just the past 24 hours, the trust shed over 14,300 bitcoin, decreasing its total holdings to 566,973 bitcoin.
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💰 JPMorgan CEO Advises Investors to Stay Away From Bitcoin — 'My Personal Advice Is Don't Get Involved'
Jamie Dimon, the CEO of JPMorgan Chase, has advised investors to stay away from bitcoin. “My personal advice is don’t get involved,” he said. “But I don’t want to tell anyone what to do. It’s a free country.” The executive added that he doesn’t care about Blackrock, the world’s largest asset manager, embracing bitcoin, insisting that the cryptocurrency’s use cases are illicit activities.
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💰 Tether Reportedly Bought 8.9K Bitcoin for $380M, Remaining 11th-Largest BTC Holder
Tether added to its bitcoin (BTC) holdings at the end of the fourth quarter, buying 8,888 more BTC for $380 million, The Block reported. An address associated with the company shows bitcoin holdings of 66,465, which makes it the 11th-largest holder of the cryptocurrency, according to a ranking by Dune Analytics.
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💰 New Bitcoin ETFs did in 3 days what Gold took 36 days to achieve with $1.8 billion in assets
One of the most common comparisons we’ve seen concerning the launch of spot Bitcoin ETFs in the United States is the one with the launch of the first gold ETF (GLD) in 2004. Interestingly, comparing the two asset classes’ premieres through their daily attestations reveals some illuminating data.
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🪙 Elon Musk Still Owns 'a Bunch of Dogecoin' — Spacex Owns 'a Bunch of Bitcoin'
Tesla CEO and Spacex chief Elon Musk has revealed that he still owns “a bunch of dogecoin,” affirming his commitment to keep buying and supporting the meme cryptocurrency. Musk additionally revealed that his company Spacex still owns “a bunch of bitcoin.”
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📈ByBit unveils Web3 NFT Pro that integrates with various NFT marketplaces, allowing users to buy NFTs directly from the platform with lower fees and faster transaction.
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