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Crypto, Bitcoin and Blockchain News Admin: @wanwangg More Crypto News: @BitcoinBreaking
🇭🇰 Hong Kong regulators sound alarm on unauthorized crypto staking programs
According to a recent announcement, the Hong Kong Securities and Futures Commission (SFC) has made it clear that both the “Floki Staking Program” and “TokenFi Staking Program” lack authorization for offering to the Hong Kong public. The regulator says both offerings involve cryptocurrency staking services that claim to deliver notably high annualized returns, ranging from 30% to over 100%.
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💰 Bitcoin's Fourth Halving May Unleash the 'Mother of All Reorgs,' Ordiscan Founder Predicts
The crypto community is abuzz with anticipation for the upcoming Bitcoin network halving event, projected to occur on or around April 20, 2024. This event is sparking widespread speculation about its distinct importance. As the fourth Bitcoin halving nears, a theory of a potential major blockchain reorganization, fueled by the extraordinary worth of the halving block, is seizing the attention of crypto enthusiasts.
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🥇 CFTC Chair Behnam marks concern over spot bitcoin ETFs and says it's time for new legislation
Commodity Futures Trading Commission Chair Rostin Behnam says he fears that the recent approval of spot bitcoin ETF products introduces risks and called again for legislation at the federal level to regulate crypto. Behnam's remarks come two weeks after the Securities and Exchange Commission approved the first batch of spot bitcoin exchange-traded funds, which have so far seen billions of dollars of trading activity.
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⬜️ OKX will discontinue its mining pool amid declining user and hashrate numbers
Crypto exchange OKX will discontinue its mining pool services due to “business adjustments” reasons, according to a Jan. 26 statement. The platform said it had halted new customer registrations, effective immediately. Existing users will retain access to the platform until Feb. 25, after which all mining pool-related services will be discontinued by Feb. 26. OKX has yet to respond to CryptoSlate’s request for comments as of press time.
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💰 Bitcoin spot ETFs recorded the largest single-day total net outflow
On Jan. 24, the total net outflow of Bitcoin spot ETFs was $159 million, the largest single-day total net outflow. According to the analytics platform Alpha, on Jan. 24 the total net outflow of Bitcoin spot ETFs hit $159 million, the largest one-day net outflow since launch.
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💰 Arkham Reveals Onchain Addresses Linked to 4 Major Bitcoin ETFs, Boosting Market Transparency
On Jan. 23, Arkham, a firm specializing in onchain intelligence, announced the identification of four lists of connected addresses linked to four new spot bitcoin exchange-traded funds (ETFs). These groups of addresses are reportedly associated with fund managers including Blackrock, Fidelity, Bitwise, and Franklin Templeton.
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📣 Crypto investment products see first outflows of the year amid Bitcoin’s ‘very high trading volumes’
Crypto-related investment products experienced their first outflow for this year, totaling $21 million, according to CoinShares’ latest weekly report. The downturn coincided with an unprecedented surge in trading activity among Bitcoin products, reaching a staggering $11.8 billion last week. This remarkable volume was seven times higher than the average weekly volume recorded in the previous year.
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🇭🇰 OSL executive says Hong Kong could debut spot crypto ETF by mid-year
Gary Tiu, executive director and head of regulatory affairs of OSL, a Hong Kong-licensed crypto exchange, said that the special administrative region could potentially see the issuance of its first spot crypto exchange-traded funds by the middle of this year, according to local media.
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🥇 Ordinals Minting Surpasses 5,822.56 BTC Fee Revenue Milestone!
Translating to approximately US$242,391,805, this remarkable milestone underscores the burgeoning success and financial viability of the Ordinals minting process. The Ordinals inscription, a unique feature within the Bitcoin NFT protocol, has witnessed an unprecedented level of adoption, with a staggering total of 56,427,386 inscriptions cast to date. This surge in activity signals a growing interest in the protocol, highlighting its popularity among users seeking to engage with the NFT space.
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💰 Bithumb Bitcoin Trading Skyrockets to Nearly $3 Billion in January, Leaving Upbit in the Shadows
Bitcoin trading on Bithumb reached an impressive $3 billion, while Upbit faced challenges with its volume remaining below $1 billion. In the last month, there has been a notable increase in crypto trading in South Korea. Kaiko’s latest analysis reveals a substantial surge in Bithumb’s Bitcoin volume, even though zero-fee trading was introduced several months ago. The trading volume of the flagship crypto asset on the platform appears to be approaching a whopping $3 billion.
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🇰🇷 South Korea presidential office hints at domestic spot Bitcoin ETF amid regional uncertainty
The Office of the President of the Republic of Korea urged the financial regulator, the Financial Services Commission (FSC), to reevaluate its stance on spot crypto Exchange Traded Funds (ETFs), local media outlet Maekyung reported on Jan. 19.
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🥇 Conflux to launch Bitcoin L2, testnet expected by March
According to Conflux, users can move Bitcoin (BTC) and inscription-powered assets between its blockchain and Bitcoin’s ecosystem. The new L2 network will run atop the main Conflux chain and use BTC for gas fees while supporting Ethereum-based smart contracts via the Ethereum Virtual Machine (EVM) standard.
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💰 Cathie Wood’s Ark Buys Its Own Bitcoin ETF
Cathie Wood’s Ark Investment Management LLC is snapping up shares of the firm’s just-launched spot-Bitcoin ETF as competition among the inaugural issuers escalates.
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💰 ProShares files for five leveraged and inverse bitcoin ETFs
ProShares on Tuesday filed prospectus materials for five leveraged and inverse bitcoin exchange-traded funds, just days after spot bitcoin ETFs began trading. The names of the funds are ProShares Plus Bitcoin ETF, ProShares Ultra Bitcoin ETF, ProShares UltraShort Bitcoin ETF, Proshares Short Bitcoin ETF and ProShares ShortPlus Bitcoin ETF.
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💰 Analysts predict Charles Schwab will eventually offer its own Bitcoin ETF
As Fidelity's spot Bitcoin ETF battles with BlackRock's offering for the top slot and Vanguard shies away from crypto altogether, multi-trillion dollar asset manager Charles Schwab has so far staked out a centrist position. Schwab customers are able to buy shares in all approved spot Bitcoin ETFs, but Schwab has yet to create a propriety offering. However, that may soon change in the future, experts predict, as Schwab weighs the advantage of moving second in a field where other entrants rushed to be first.
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💰 The Bitcoin halving is now less than 3 months away 💥
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💰 Bitcoin developer Luke Dashjr raises concerns over centralization in Bitcoin mining
In an in-depth interview with Bitcoin Magazine on Jan. 24, Bitcoin Core developer Luke Dashjr voiced significant concerns about the increasing centralization of Bitcoin mining. Dashjr believes that the dominance of a few large mining pools poses a serious threat to the decentralized nature of Bitcoin, potentially leading to censorship and control issues within the network.
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WATCH: 📊 Race visualization shows how the 💰 Bitcoin ETFs have accumulated 100k+ $BTC in just over a week 📈
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💰 Bitcoin ETFs see minor net outflows of $100 million as BlackRock acquires 4,080 more Bitcoin
Bitcoin ETFs in the U.S. saw inflows of around $409 million yesterday as BlackRock recorded a purchase of roughly $160 million Bitcoin by adding a further 4,080 coins to its balance. Data shared by Bloomberg analyst James Seyffart last night, Jan. 23, revealed $515 million in outflows for Grayscale with $249 million inflow from the other Newborn Nine ETFs. Given the now-released BlackRock data, this confirms that Jan. 23 was a net outflow day for Bitcoin ETFs of around $100 million.
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🏦 Coinbase urges US Treasury to reconsider bulk data reporting in proposed crypto mixing rules
Coinbase said the U.S. Treasury’s proposed rulemaking on cryptocurrency mixing fails to adequately address a regulatory gap while demanding unnecessary amounts of data and resources from crypto platforms. In a comment filed Monday to the Treasury Department's Financial Crimes Enforcement Network (FinCEN), Coinbase suggested that regulated crypto platforms are already obligated to recordkeeping and reporting rules on suspicious activities and illicit crypto mixing.
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🇬🇧 The FCA's stringent rules are hurting crypto firms in the UK, says Bittrex Global CEO
Last summer, UK Prime Minister Rishi Sunak said he was keen on providing regulatory clarity regarding how crypto firms should register and operate in the country — as part of his ambitions for the UK to become a global hub for web3. However, fast-forward several months and some firms have now suspended services or exited the UK market amid strict marketing rules from the country’s financial regulator, the Financial Conduct Authority.
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💰 9 Freshly Launched Spot Bitcoin ETFs Gather Over 81,000 BTC, Valued at $3.39 Billion
Since Jan. 12, 2024, Grayscale’s newly transitioned spot bitcoin exchange-traded fund (ETF), GBTC, experienced a withdrawal of 50,106.59 bitcoin. Meanwhile, the nine newly launched spot bitcoin ETFs have collectively accumulated 81,366 bitcoin, valued at approximately $3.39 billion.
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💰 Bitcoin Network's Mining Difficulty Drops 3.9% to 70.34 Trillion, Easing Miner Workload Amid Texas Cold Snap
On Saturday, the Bitcoin network experienced its first difficulty reduction of the year, witnessing a 3.9% decrease at block height 826,560. As a result, the network’s mining difficulty now stands at 70.34 trillion, with the next adjustment anticipated on Feb. 4, 2024.
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💰 Spot Bitcoin ETFs scoop up another 10,600 BTC on day 5
Spot Bitcoin exchange-traded fund (ETF) issuers added another net 10,667 Bitcoin to their crypto stacks on their fifth trading day amid increasing trading volumes.Data compiled by X (formerly Twitter) account CC15Capital for Jan. 17 shows that a net $440 million in Bitcoin was added to their holdings at the end of the day. BlackRock’s ETF accounted for the lion’s share of the purchases with 8,700 BTC, worth nearly $358 million.
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💰 Grayscale could see up to $10 billion leave its Bitcoin ETF, says JPMorgan
Spot Bitcoin exchange-traded funds in the US have clocked up big volumes in the first week of trading, yet Bitcoin has fallen 11%. JPMorgan blames investors ditching Grayscale’s ETF. Grayscale’s spot Bitcoin ETF, GBTC, has seen over $1.5 billion in outflows since January 11. The exodus has acted as an “additional drag for crypto markets,” JPMorgan analysts led by Nikolaos Panigirtzoglou said in a report shared with DL News on Thursday.
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🪙 Cathie Wood’s Ark Invest Sells ProShares Strategy ETF (BITO) To Buy ARKB Spot Bitcoin ETF⚡️
Asset management firm Ark Invest founded by Cathie Wood has offloaded holdings in ProShares Bitcoin Strategy ETF (BITO). The move comes as Ark Invest looks to increase its holdings in the Ark 21Shares Spot Bitcoin ETF (ARKB) from funds earlier parked in the ProShares Bitcoin Strategy ETF, strategically readjusting in response to evolving market conditions.
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💰 Skybridge Founder Expects Bitcoin to Surpass $170,000 Next Year
Skybridge Capital founder Anthony Scaramucci expects bitcoin’s price to surge past $170,000 next year if the price of the cryptocurrency remains at the current level until the halving in April.
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⬜️ OKX Expands 🌐Global Foothold With VASP License From 🇦🇪Dubai Regulators
OKX secured a VASP license in Dubai, expanding its global presence, showcasing dedication to regulatory adherence, and leading in Web3 tech.
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