The crypto industry is on tenterhooks as it awaits the SEC’s decision on Bitcoin ETFs. Asset management firm VanEck has pledged to donate 5% of the profits from its spot Bitcoin ETF (if approved) to support core Bitcoin developers. Valkyrie’s filing for securities registration of its Spot Bitcoin ETF with the SEC has sparked anticipation across the industry, with a wave of approvals expected next week. ETF issuer Tuttle Capital has filed for six leveraged Bitcoin ETFs with the SEC, promising magnified returns for users.
Goldman Sachs, the banking giant, has shown interest in becoming an authorized participant in the proposed spot Bitcoin ETFs introduced by BlackRock and Greyscale. Cboe, a US-based firm, has approved the Fidelity Wise Origin Bitcoin Fund to be listed under the FBTC ticker, according to a new Securities and Exchange Fund filing. However, Markus Thielen, an analyst at Matrixport, predicts that the SEC will reject all spot Bitcoin ETF applications this month.
Jim Kramer, financial analyst and host of CNBC Mad Money, has revised his opinion on Bitcoin, now calling it a technological marvel that is here to stay. MicroStrategy, led by Bitcoin advocate Michael Saylor, has made a significant profit of $2.65 billion from their entire BTC reserves. However, the number of crypto ATMs saw a sharp decline in 2023, with over 5,700 machines decommissioned, reducing the total number from 39,350 to 33,620 across 71 countries.
In business news, Coinbase plans to launch crypto-linked derivatives in the EU by acquiring a holding company with a MiFID II license. A group of former Citigroup executives plan to offer bitcoin-backed securities that do not require SEC approval. Huobi Korea, a South Korean cryptocurrency exchange, has announced it will cease operations from the 29th of January 2024. Kyrgyzstan is becoming a favorite for crypto mining, with tax revenue from mining seeing a significant increase in 2023.
In the NFT space, Logan Paul, a YouTuber and social media influencer, has promised to refund investors of his CryptoZoo NFT game, provided they do not sue him after receiving the refund. The Polkadot blockchain community has introduced a new cryptocurrency known as DED. Salus, a blockchain security firm, has reported that financial losses from hacking in the web3 industry decreased to $1.7 billion in 2023, a drop from the previous year. EZ Swap has closed a $1 million strategic investment round led by the EOS Network Foundation’s EOS Network Ventures fund.
Security concerns persist, with a report by Scam Sniffer indicating that phishing activities drained almost $300 million from 320,000 users in 2023. Radiant Capital, a cross-chain lending protocol, lost 1900 ETH worth $4.5 million to hackers. The team behind Tellor is accused of market manipulation after the price of the protocol’s TRB token increased by 172% in a single day. Orbit Chain, a cross-chain project, lost $81 million due to a major exploit just hours before the new year.
On the regulatory front, the European Banking Authority (EBA), the European Systemic Risk Board (ESRB), and the Financial Stability Board (FSB) will conduct a joint investigation into the links between legacy banks and non-bank financial institutions (NBFIs). The Nigerian Central Bank (CBN) has published strict guidelines for banks and financial institutions opening crypto accounts after lifting the ban on banks’ operating accounts for virtual asset service providers (VASPs).
This News Article was automatically generated by Bob the Bot (AI)
| Information | Details |
|---|---|
| Geography | Global |
| Countries | 🇺🇸 🇰🇬 🇳🇬 |
| Sentiment | neutral |
| Relevance Score | 1 |
| People | Logan Paul, Jim Kramer, Michael Saylor, Markus Thielen |
| Companies | Valkyrie, EZ Swap, Goldman Sachs, EOS Network Foundation, Orbit Chain, European Banking Authority, MicroStrategy, Cboe, Tuttle Capital, Citigroup, Salus, Huobi Korea, Tellor, European Systemic Risk Board, VanEck, Financial Stability Board, Nigerian Central Bank, BlackRock, Scam Sniffer, Coinbase, Radiant Capital, Polkadot, Greyscale |
| Currencies | Bitcoin, Ethereum |
| Securities | None |
