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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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🇸🇻 El Salvador’s Bitcoin Adoption Drops Significantly: Survey Reveals a 12% Usage Rate in 2023
Among those surveyed, 6.8% see life improvement with Bitcoin adoption in El Salvador, but the majority, 93.2%, remain unconvinced of any positive impact. El Salvador made history by becoming the first nation to embrace Bitcoin as a legal tender more than two years ago. Although the country’s financial outlook has seen positive developments, a recent study carried out by José Simeón Cañas Central American University unveiled a mixed sentiment regarding the correlation between the adoption of Bitcoin and perceived improvements in personal well-being.
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🪙 Ethereum outpaces Bitcoin post-ETF launch as ETH/BTC ratio skyrockets
ETH/BTC ratio—a crucial indicator of two leading cryptocurrencies' interplay—has presented a compelling narrative. Recent trends have defied expectations set by high-profile events such as Ethereum's Merge and the launch of spot Bitcoin ETFs in the U.S. While the ratio experienced fluctuations, a sharp divergence emerged, raising questions about the underlying forces at play.
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🏦 Judge in Coinbase case says SEC’s securities definition may be too broad
A court hearing between Coinbase and the U.S. Securities and Exchange Commission (SEC) took place on Jan. 17 concerning earlier charges. In June 2023, the SEC alleged that Coinbase illegally operated a unregistered national securities exchange, broker, and clearing agency and that its crypto staking service involved the unregistered sale and offering of securities.
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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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🪙 Tether Dominance Reaches 71% as Market Cap Surges to Record $95B: Glassnode
Tether’s financial success goes beyond stablecoins, with a $3B Bitcoin investment portfolio as of Jan 4, 2024, proving substantial profit. Tether, the entity responsible for the USDT stablecoin, has experienced a surge in market dominance from 50% to an impressive 71% throughout 2023, as reported by Glassnode.
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🇰🇷 South Korea's Crypto Volumes Peak in 2024 as Upbit and Bithumb Dominate Local Market
In the last 100 days, South Korea’s crypto trading activity has experienced a significant upswing. The country’s leading crypto exchanges, Upbit and Bithumb, recorded their highest trading volumes in the initial week of January 2024.
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💰 Vanguard ceases support for Bitcoin futures ETF purchase
Vanguard, one of the world’s largest asset managers, continues to maintain its anti-Bitcoin sentiment, with the company recently stating that it would stop the purchase of Bitcoin futures exchange-traded funds (ETFs) on its platform.
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💰 Blackrock’s Spot Bitcoin ETF Now Holds 11,439 BTC
Blackrock’s spot bitcoin exchange-traded fund (ETF) has acquired 11,439 bitcoin, with a market value of nearly $500 million, within two days of trading on the Nasdaq stock exchange.
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🥇 VanEck Bitcoin ETF commercial
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🇺🇸 Elizabeth Warren slams SEC over decision to allow spot bitcoin ETFs, says crypto needs to follow anti-money laundering rules
Sen. Elizabeth Warren, D-Mass., slammed the Securities and Exchange Commission for approving spot bitcoin exchange-traded funds and called for anti-money laundering rules to be urgently applied to crypto.
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🇺🇸 Gary Gensler: 'While we approved the listing and trading of certain spot BitcoinETF shares today, we did not approve or endorse Bitcoin.'
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💰 SEC’s Twitter/X was hacked to post fake spot Bitcoin ETF approval: Gensler
Some believe the redacted tweet was legitimate, but posted early.
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💰 Bitcoin ETFs Closing In: Industry Giants Slash Fees in Epic Battle for Approval! 💼💰
In a monumental move, industry leaders, including BlackRock, Ark Invest/21Shares, VanEck, WisdomTree, Invesco, Fidelity, and Valkyrie, have filed amended S-1 forms, marking the decisive step before potential approval for spot Bitcoin ETFs. The race for the coveted approval is reaching its climax! 🏁🌟
Amended S-1 Forms Filed: Countdown to Bitcoin ETF Approval Begins
Cryptocurrency enthusiasts are on the edge of their seats as major players file amended S-1 forms, signaling the conclusive phase before a potential green light for spot Bitcoin ETFs. BlackRock, Ark Invest/21Shares, VanEck, WisdomTree, Invesco, Fidelity, and Valkyrie are all in the spotlight. 📑🚀
Fee Wars Intensify: BlackRock Sets Sponsor Fee at 0.3%
In a strategic maneuver, BlackRock reveals its sponsor fee at 0.3%, with a notable reduction to 0.2% for the first year or until the ETF hits $5 billion in assets. This unexpected fee cut sends shockwaves through the industry, prompting Bloomberg ETF analyst Eric Balchunas to exclaim, "Life just got a LOT tougher for everyone else. The ETF Terrordome is no joke." 😱💼
VanEck's Strategic Play: Joint Lowest Permanent Fee at 0.25%
VanEck positions itself as a frontrunner by selecting a joint lowest permanent fee among issuers at 0.25%. The fierce battle for fee supremacy is in full swing, and VanEck strategically secures its place. 🏆💸
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💰 Heightened Bitcoin Fees and Erratic Mining Revenues Herald Murky Shift as Halving Nears
Recent statistics reveal that for the past 75 days, starting from Nov. 6, 2023, the average transaction fee on the Bitcoin network has consistently stayed over $5. Additionally, since Dec. 4, 2023, these fees have predominantly been over $10, with a single exception occurring when it briefly fell to $8.33 per transaction.
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💰 Ripple challenges SEC request for financials, alleging it's untimely and irrelevant
Lawyers representing Ripple Labs have declared that the United States Securities and Exchange Commission's (SEC) request to examine additional financial documents is not valid, given the deadline has already passed and lacks relevance. In a recent court filing on Jan. 19, Ripple's legal team claimed that the SEC has changed its stance on collecting additional information during the discovery phase.
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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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🏦 Gemini gains ground in France with official Digital Asset Service Provider registration
Crypto exchange Gemini has been registered as a Digital Asset Service Provider (DASP) in France by the l’Autorité des Marchés Financiers (AMF), the French financial markets regulator, according to a Jan. 17 statement. The registration would enable it to cater to retail and institutional customers in France. Moreover, the regulatory milestone would also grant its users access to a diverse range of 70 cryptocurrencies through Gemini’s comprehensive services.
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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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💰 Kevin O'Leary Says He'll Never Buy Bitcoin ETF — Prefers to Hold BTC Long Term
Kevin O’Leary, aka Mr. Wonderful, says he will never buy a spot bitcoin exchange-traded fund (ETF) as he is holding bitcoin for the long term as digital gold. “Why would I pay these fees?” he said, adding that spot bitcoin ETFs “add no value” and are “completely unnecessary.”
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🇮🇳 Indians are turning to local exchanges amid clampdown on foreign platforms
India has now banned foreign exchanges from operating in the country by blocking access to their websites and new application downloads.
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💰 Bitcoin Miner Outflows Hit Six-Year Highs Ahead of Halving, Sparking Mixed Signals
Miner outflow has hit a multi-year high as tens of thousands of bitcoin (BTC), worth over $1 billion, have been sent to exchanges. CryptoQuant data shows that the majority of the bitcoin has moved from mining company F2Pool. Bradley Park, an analyst at the company, told CoinDesk in a Telegram message that the move is due to miners facing increased costs.
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🥇 CoinShares to acquire Valkyrie Funds after US spot bitcoin ETF approval
CoinShares International said on Friday it has exercised an option to acquire Valkyrie Funds, expanding the European digital asset firm's U.S. offerings, after Valkyrie's spot bitcoin exchange-traded fund won the U.S. regulator's approval.
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💰 Bitwise to donate 10% of Bitcoin ETF profits to support open-source development
Crypto index fund manager Bitwise pledges to allocate 10% of profits from its Bitcoin ETF to support Bitcoin open-source development
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JUST IN: 💰 Cboe files request for acceleration with the SEC for Fidelity, VanEck, ARK 21Shares, and Franklin Templeton spot Bitcoin ETFs
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⚡️JUST IN: BlackRock, VanEck file more S-1 updates just a day before expected approval date.
Price reaction: BTC's price dropped 3% in a matter of minutes and quickly recovered, almost fully paring the loss. 📉🚀
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💰 Bitwise Leads the Charge in Bitcoin ETF Battle! 💼💰
With the SEC poised to unveil the future of U.S. Bitcoin exchange-traded funds (ETFs), the crypto universe is ablaze with anticipation, and the spotlight is on the all-important fees! 🔥📈
💎 Bitwise Steals the Limelight with a Groundbreaking 0.24% Fee! 🚀💸
Hold onto your seats, investors! Bitwise, the maestro of crypto management, takes center stage with an eye-popping 0.24% fee, coupled with a 6-month fee vacation! 🌟✨ Prepare for a financial adventure as Bitwise charts a new course!
🔥 Fierce Rivalry as Competitors Sprint to the Bottom! 🏁💼
Ark and 21Shares refuse to be outshone, matching Bitwise's intensity with a razor-sharp 0.25% fee. VanEck and Franklin join the race, flaunting their sleek 0.25% fee structures. It's a fee showdown, and investors are the ultimate beneficiaries! 💸🚀
🌎 BlackRock's Strategic Move Sends Shockwaves! 💡💼
BlackRock, the global titan, throws a curveball with a savvy 0.30% fee—defying expectations! This strategic move reshapes the playing field, setting a new standard for the industry giants! 💪📉
📈 "Life Just Got Tougher for Everyone Else!" - Industry Pundits Weigh In! 🤯📊
Bloomberg Intelligence’s ETF senior analyst, Eric Balchunas, succinctly sums it up: "Life just got a lot tougher for everyone else." BlackRock's unexpected pricing decision adds an exhilarating twist to the unfolding Bitcoin ETF narrative! 🚀🔥
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🚀💼 SEC Alert: FOMO Danger Ahead of Spot Bitcoin ETF Verdict - Invest Wisely! ⚠️💸
In a strategic move, the U.S. Securities and Exchange Commission (SEC)’s Office of Investor Education and Advocacy has issued a crucial warning on X, addressing the looming Fear of Missing Out (FOMO) risks. This cautionary message, the fifth in a recent series, aims to guide investors through the intricacies of the ever-evolving financial landscape. 🌐🔍
'NO GO to FOMO': SEC's Firm Advice on Prudent Investing
The SEC's Office of Investor Education and Advocacy delivered a clear directive: 'NO GO to FOMO.' Investors are urged to exercise caution, with the reminder that the popularity of an investment among peers doesn't automatically make it the right choice for everyone. 💡🚫
Tailor Investments to Your Goals: SEC Encourages Informed Choices
Investors are encouraged to adopt a thoughtful approach, aligning their investment choices with individual goals. The SEC underscores the diverse realm of digital assets, spanning cryptocurrencies, ICO tokens, meme stocks influenced by online trends, and non-fungible tokens (NFTs). 🔄💸
Spot Bitcoin ETF Decision Nears: SEC's Timely Warning
As the SEC stands at the precipice of a significant decision regarding spot Bitcoin exchange-traded funds (ETFs), this cautionary note gains added significance. With an anticipated announcement early next week, the SEC could open the doors for trading approved spot Bitcoin ETFs from January 11. 📅🌟
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