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Crypto News

US Presidential Candidate Vivek Ramaswamy Hails Grayscale Legal Triumph as Gateway to Bitcoin Evolution

US presidential candidate Vivek Ramaswamy praises Grayscale's win against the SEC, stating it safeguards US Bitcoin and blockchain innovation. He blames "3-letter government agencies" for pushing such cases to courts, asserting that the recent ruling will retain innovation in the US. Ramaswamy vows to revoke regulations that don't meet the Supreme Court's "major questions" test, potentially limiting SEC's crypto oversight. While Ramaswamy supports the crypto industry, a recent court ruling questions the doctrine's applicability to crypto. He's among three candidates, including Kennedy Jr. and DeSantis, openly endorsing the crypto sector.

cointelegraph - 1089 ngày trước

Analysts at Bloomberg Predict 75% Chance of Bitcoin ETF Approval in 2023

Bloomberg analysts have increased the likelihood of an approved Bitcoin exchange-traded fund (ETF) by the end of 2023 to 75%, up from 65%, citing a recent Grayscale legal win against the securities regulator. United States Court of Appeals Circuit's unanimous decision and its rejection of the SEC's arguments contribute to this shift. The analysts predict spot Bitcoin ETF approvals to be highly probable by Q4 2024, estimating a 95% chance. Seven Bitcoin spot ETF applications, including those by Bitwise, BlackRock, and VanEck, face upcoming decisions by the SEC, with expectations of potential delays or sudden approvals.

cointelegraph - 1090 ngày trước

Cardano's Wallet Count Rises by 250k Since April Despite ADA Price Setback

Cardano (ADA) community remains resilient despite ADA price decline. New unique wallet addresses have surged by 6%, reaching 4.26 million from 4.02 million since April 1. Delegators increased by 30,000 during this period. The network averaged 1,600 new wallets daily over 151 days. ADA's value dropped from $0.40 to $0.26 in this time, a 35% loss. Cardano faces a 4.75% loss in a bearish crypto market. Nonetheless, ADA's utility growth could boost its price performance. ADA could recover to $2.71, if it regains its past $95 billion market cap.

Finbold - 1090 ngày trước

Massive Bitcoin Purchase of $388M Made by Whales Before Grayscale-SEC Announcement

Bitcoin whales have been steadily accumulating more BTC in recent months, using price dips as buying opportunities. Notably, ahead of the Grayscale vs. SEC court decision, large holders added over $388 million to their holdings, coinciding with a 6% price surge. Market analysts speculate about the role of these whales and sharks, hinting at potential market manipulation. The court ruling, which favored Grayscale's petition against the SEC, is seen as a positive step towards the US's first spot Bitcoin ETF, including BlackRock's application. Bitcoin's price currently hovers around $27,370.

CoinJournal - 1090 ngày trước

Robinhood Expands Web3 Wallet Integration to Include Bitcoin and Dogecoin alongside Other Cryptocurrencies

Robinhood's self-custody Web3 wallet now supports Bitcoin and Dogecoin networks alongside Ethereum and other tokens. The wallet was initially launched with Polygon support for select iOS users in September 2022, expanding to over 130 countries in March. The platform responded to user demand by including Bitcoin and Dogecoin network support, along with in-app swaps for over 200 Ethereum tokens. Robinhood aims to simplify DeFi complexities and plans to enhance access to additional low-cost, secure layer-2 chains as per user requests. The move follows the launch of Robinhood Connect, facilitating US users' crypto transactions.

Blockworks - 1090 ngày trước

Binance Rolls Out Send Cash Crypto Transfer Service in Nine Latin American Nations

Binance introduces Send Cash, a new crypto transfer service, catering to Latin America. Users from nine countries, including Colombia, Argentina, and Mexico, can now utilize Binance Pay to send funds to bank accounts in select nations. The move aims to address regional financial challenges and promote crypto's role in daily life. The service arrives as Binance's card partnership with Mastercard ends in Latin America and the Middle East. Venezuelan users raise concerns about missing Banco de Venezuela option in Binance's P2P platform, attributed to regulatory compliance requirements for payment methods.

BeInCrypto - 1091 ngày trước

Indian Tycoon Mukesh Ambani's Reliance Industries to Explore Blockchain Platforms and CBDCs

Mukesh Ambani, Chairman of Reliance Industries, revealed the company's expansion into blockchain and central bank digital currencies (CBDCs) through its financial arm, Jio Financial Services (JFS). Partnering with BlackRock, the move aims to enhance India's digital adoption by offering innovative features like blockchain-based platforms and CBDCs. While Reliance Retail has begun piloting CBDC acceptance, the broader move signals Reliance's strategic interest in these technologies. India's advancements in CBDC development are ongoing, positioning the country at the forefront of wholesale and retail CBDC implementation.

coindesk - 1091 ngày trước

Ethereum's Staked Amount Surges, Nearly Doubling ETH Reserves on Exchanges

The amount of Ethereum being staked within the network has surged, potentially reaching double the volume held on centralized exchanges. Recent data revealed a staking balance exceeding 28 million ETH, while exchange balances dropped to 14.7 million ETH. This trend underscores a shift towards self-custody and staking, with over 20% of the total supply now staked. Despite this growth, Ethereum's market value remains undervalued in the midst of a bear market. Notably, major players like Lido, Coinbase, and Binance are contributing to this transformative movement in Ethereum's ecosystem.

BeInCrypto - 1091 ngày trước

Elon Musk's X (Previously Twitter) Secures License for Crypto Payment

Elon Musk's X (formerly Twitter) is evolving into an "everything app," merging functionalities like a payment hub with the microblogging platform. This mirrors Musk's vision of X as a "DOGE-friendly" space. The firm is actively obtaining licenses in US states to operate as a crypto-friendly entity, emphasizing fiat transactions under the "Money Transmitter License." Recently, Rhode Island granted X's payment division the requested "Currency Transmitter" license, enabling crypto services like exchanges and wallets. This empowers X to manage digital assets' storage, transfer, and exchange. However, Musk's complete crypto integration roadmap remains uncertain.

Finbold - 1091 ngày trước

Crypto Exchange Supplies of Bitcoin Reach Lowest in Almost Six Years: Santiment Report

Recent data from crypto analytics firm Santiment highlights a significant trend favoring cryptocurrencies. The supply of Bitcoin on crypto exchanges has reached its lowest level in more than five years, accounting for only 5.8% of its overall supply, a level not seen since December 2017. This suggests growing interest in holding BTC outside of exchanges. Furthermore, Bitcoin leads in active address activity, surpassing other digital assets like Tether, Ethereum, Polygon, and Litecoin. Ethereum sees its 10 largest addresses holding 35% of the coin's total supply, attributed to smaller investors reacting to market uncertainty.

The Daily Hodl - 1092 ngày trước

Crypto News

Bitcoin Open Interest Surges by $1.8 Billion as Price Breaks $27,000

Bitcoin's Open Interest has surged by $1.8 billion as its price broke the $27,000 mark, indicating a strong influx of investor interest. Open Interest tracks the total value of Bitcoin futures contracts open on derivative exchanges, with rising figures signifying increased market activity and potential volatility. The recent jump from $11.04 billion to $12.81 billion suggests heightened trading and leveraged positions. The future direction of Bitcoin's price remains uncertain, with the surge potentially fueled by shorts covering positions or longs hoping for further gains. The funding rate suggests a balanced mix of long and short positions.

newsbtc - 1071 ngày trước

Bitcoin Poised for Parabolic Rise with Institutional Capital Inflow, Says Morgan Creek Capital Founder

Morgan Creek Capital founder Mark Yusko predicts a bright future for Bitcoin (BTC) as institutional capital worth hundreds of billions is expected to enter the market. Yusko points to Bitcoin's historical trend of adding a zero to its price following each halving event, with the next one slated for April 2024. He anticipates a 1.5x increase from the current all-time high, potentially reaching $100,000. Additionally, Yusko believes Bitcoin exchange-traded funds (ETFs) will be approved by late 2023 or early 2024, leading to a substantial influx of capital into the cryptocurrency.

The Daily Hodl - 1071 ngày trước

Citigroup Leads the Way with Permissioned Blockchain for Institutions

Citigroup has unveiled Citi Token Services, a permissioned blockchain platform designed for institutional clients, offering access to tokenized deposits, cross-border payments, and automated trade finance around the clock. This move aligns with Citigroup's goal of creating a 24-7, on-chain, programmable financial system. The partnership with Maersk enables instant payments through smart contracts, benefiting companies with numerous vendors. Citi Token Services also aids corporate treasurers in managing global liquidity more efficiently. Meanwhile, JPMorgan is reportedly still in the early stages of exploring a similar private blockchain service, lagging behind Citigroup's innovation.

Blockworks - 1071 ngày trước

Bitcoin Dominance Soars Above 50%, Emerging as the Crypto Safe Haven

Bitcoin is making a strong comeback, currently priced at $26,684 and holding over 50% of the total cryptocurrency market, boasting a market cap of approximately $520 billion. This milestone is significant as it contrasts with the stagnation or decline of many alternative cryptocurrencies (altcoins). Ethereum, the closest rival, sits at $1,632.09, with other altcoins showing modest gains or losses. Bitcoin's resurgence aligns with historical trends, often thriving during bear markets, cementing its status as a digital "safe haven." Despite gains, it remains below its peak dominance levels, but its return to prominence is noteworthy.

U.Today - 1071 ngày trước

Animoca Game Studio Pioneers Bitcoin-Backed Metaverse Token, Ushering in Bitcoin's Next Phase

Animoca Brands subsidiary Darewise Entertainment is set to introduce the first-ever metaverse token on the Bitcoin blockchain. The token is aimed at powering a comprehensive ecosystem for gaming, brands, and real-world experiences. This move represents a significant expansion of Bitcoin's capabilities beyond a store of value. The metaverse token will facilitate in-game assets and virtual lands for the Life Beyond metaverse project, marking a new era for Bitcoin. Darewise Entertainment is partnering with Horizen Labs to develop and expand the Ordinals ecosystem on Bitcoin, with more innovations expected in the coming months.

Bitcoin News - 1072 ngày trước