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Crypto News Source

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The latest Messages 6

2024-01-03 20:30:10
Matrixport Analyst Forecasts SEC Rejection of Bitcoin Spot ETFs in January Chill

In a chilly revelation for the crypto market, Matrixport analyst Markus Thielen predicts a frosty January as the Securities and Exchange Commission (SEC) gears up for a sweeping rejection of all bitcoin spot ETF proposals. Despite ongoing discussions and revisions to S-1 prospectuses, Thielen points to an unaddressed criterion that could lead to a collective dismissal.

Unmet Criteria: SEC Challenges Loom Large for ETF Approval
Thielen's analysis delves into the intricate dynamics of politics and compliance within the crypto landscape. While the prospect of an ETF promises a warmer embrace for crypto in the U.S., Thielen argues that current proposals fall short of SEC Chair Gary Gensler's vision of stringent compliance.

Gensler's Stand: A Probable Barrier to Approval
"SEC Chair Gensler's cautious approach to crypto in the U.S. makes approval for bitcoin spot ETFs a distant hope," observes Thielen. The timeline for meeting Gensler's compliance benchmarks extends into Q2 2024, heightening the likelihood of January rejections.

Fraud Concerns Echoed: Gensler's Watchful Eye
Gensler's recent remarks on CNBC mirror the SEC's concerns, citing rampant fraud and compliance lapses in the crypto field. "There's been far too much fraud and bad actors in the crypto field," Gensler emphasizes, underscoring the need for adherence to securities laws and anti-money laundering regulations.

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17.8K views17:30
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2024-01-03 11:31:44
Buzz Alert: Spot Bitcoin ETFs Opening Doors for Investors!

*Chicago, IL — Jan 4, 2023*

CBOE's John Palmer sees a potential revolution as Spot Bitcoin ETFs emerge, inviting a fresh wave of institutional interest in cryptocurrencies.

Institutional Gateway: Palmer predicts approval will give pension funds and RIAs direct access to the dynamic world of Bitcoin.

SEC Showdown: Jan 10 deadline looms for the pivotal decision on ARK Invest 21 Shares Bitcoin ETF application.

Bitcoin's Rally at $45,136: A sweet spot for investors, attracting both institutional and retail attention.

Future Landscape: Spot Bitcoin ETF approval might reshape investment landscapes, making Bitcoin a star player.

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24.0K views08:31
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2024-01-02 19:25:39
Grayscale's Strategic Chess Move: Spot Bitcoin ETF Amendment Sparks Crypto Contemplation!

In a strategic move that's causing a ripple in the crypto chessboard, Grayscale, the pioneer in cryptocurrency asset management, has just made a calculated move with its latest amendment to the Bitcoin exchange-traded fund (ETF) application.

Spot Bitcoin ETF: A Strategic Shift!
Grayscale's amended filing, strategically unearthed by Bloomberg's senior ETF analyst Eric Balchunas on X (formerly Twitter), adds an element of intrigue to the ETF narrative. This revision, marked by the omission of authorized participant details, sets the stage for speculation and invites the crypto community to ponder the unfolding strategy.

Authorized Participants: Missing Puzzle or Strategic Silence?
Breaking away from the conventional script, Grayscale's amended filing keeps authorized participant information under wraps. Why the calculated silence? The company discloses that these participants will exclusively engage in cash transactions for shares, injecting a strategic mystery into their moves. This deviation from the norm has ignited anticipation and curiosity in the crypto community.

Dec. 29 Filings: The Countdown to the First U.S. Bitcoin ETF
In a synchronized countdown, seven companies, Grayscale included, filed updated Form S-1 applications on December 29. While counterparts like Fidelity, WisdomTree, and Invesco Galaxy revealed their authorized participants, Grayscale

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35.8K views16:25
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2024-01-02 11:35:23
Bitcoin Rockets Above $45K: A Stellar Kickoff to 2024 Sets the Stage for ETF Anticipation!

In a dazzling start to the new year, Bitcoin has surged past the $45,000 mark, achieving a milestone not seen in nearly two years. The ascent in value aligns perfectly with the mounting excitement surrounding the imminent approval of a spot Bitcoin exchange-traded fund (ETF), injecting a fresh wave of enthusiasm into the crypto space.

Bitcoin's Soaring Trajectory: A Remarkable 6% Surge in 24 Hours and a Whopping 170% Over the Last Year!

From its opening at $42,000 on January 1, Bitcoin has undergone a rapid ascent, experiencing an impressive surge of over 6% in the past 24 hours alone. The extraordinary trajectory continues, boasting a staggering 170% surge over the past year, as reported by CoinMarketCap. This surge not only surpasses Bitcoin's 2023 peaks but also establishes an exhilarating new yearly high just two days into 2024.

Market Excitement: Bitcoin's Rally Fuels Anticipation for Potential SEC Approval!

With the crypto community eagerly awaiting the SEC's decision on pending applications for a spot Bitcoin ETF, the market buzzes with excitement. The regulator currently holds 14 outstanding applications, and the imminent decision carries the potential to reshape the crypto investment landscape.

A Journey Back in Time: Bitcoin Breaks $45,000, Recalling Heights Last Seen in April 2022!

The surge in Bitcoin's price prompts a nostalgic reflection on almost 20 months ago, specifically April 5, 2022, when Bitcoin last traded above $45,000. This time, however, the ascent feels different, signaling a potential departure from the bear market that followed back then.

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33.1K views08:35
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2024-01-01 19:59:45
Bitcoin ETF Launch: A Quiet Start with the Potential to Attract Trillions Over Time!

The imminent launch of spot Bitcoin exchange-traded funds (ETFs) may not cause immediate fireworks in the Bitcoin (BTC) market, but VanEck adviser Gabor Gurbacs sees a future where these ETFs could usher in trillions of dollars into the cryptocurrency sector.

Initial Impact Misjudged: Gurbacs Suggests a Modest Start for Bitcoin ETFs!

In a candid post on X (formerly Twitter) dated January 1, Gabor Gurbacs poured cold water on the anticipation surrounding the "initial impact" of Bitcoin ETFs. He estimates a humble net inflow of around $100 million, largely sourced from "mostly recycled" money from significant institutional investors during the launch.

Historical Parallels: Drawing Insights from the Gold ETF Launch!

Gurbacs draws parallels to history, specifically pointing to the launch of the first gold ETF by State Street on November 18, 2004. Over the following eight years, the price of gold skyrocketed from $400 to $1,800, witnessing a more than fourfold increase. This surge catapulted the total market capitalization of gold from $2 trillion to an impressive $10 trillion within the same period.

A Marathon, Not a Sprint: Bitcoin ETFs Positioned for Long-Term Growth!

Despite the seemingly subdued initial impact, Gurbacs paints a picture of long-term growth for Bitcoin ETFs. Comparing the trajectory to the gold market, he hints at the potential for these ETFs to attract trillions of dollars over time, positioning the cryptocurrency sector for substantial growth in the years to come.

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24.4K views16:59
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2024-01-01 08:39:02
SEC Alert: Bitcoin ETF Countdown Begins - Notifications Imminent!

In a thrilling update for the crypto world, the U.S. Securities and Exchange Commission (SEC) is gearing up to notify approved ETF issuers, setting the stage for potential launches ahead of the January 10 deadline.

D-Day Approaches: January 10 Decision Nears for Ark Investments and 21Shares!

With the January 10 deadline looming for the SEC's decision on the spot Bitcoin ETF proposed by industry giants Ark Investments and 21Shares, the regulatory body is on track to inform asset managers about the fate of their own ETF applications. According to insider reports from Reuters, the much-anticipated notifications could roll out as early as Tuesday or Wednesday next week.

Race to Launch: Asset Managers Eyeing January 10 Decision Deadline!

For asset managers who met the year-end deadline, the race is on to launch their ETFs in sync with the critical January 10 decision deadline. Notable contenders include Valkyrie, Bitwise, WisdomTree, Franklin Templeton, BlackRock, VanEck, and Invesco. Early notifications could pave the way for an exhilarating launch for those securing the regulatory green light.

Elite 14 in the Spotlight: Asset Managers in the ETF Approval Arena!

Among the 14 asset managers vying for approval of similar ETFs, some have already submitted intricate forms to the SEC, detailing sponsor fees and technical specifics. Fidelity takes the lead with the lowest proposed sponsor rate at an impressive 0.39%. While other contenders keep their rates under wraps, the competition is reaching a boiling point.

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34.2K views05:39
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2023-12-31 20:16:44
Bitcoin Miners Reach Celestial Heights: December 2023 Smashes Records with $1.51 Billion in Revenue!

As the cosmic journey of 2023 concludes, Bitcoin miners are basking in the glow of a celestial achievement, amassing an astronomical $1.51 billion in revenue for December. This triumph not only eclipses the previous peak in May but also spotlights the meteoric rise of onchain fees in the ever-evolving galaxy of cryptocurrency.

December's Cosmic Triumph: Surpassing May's $919.22 Million Record!

December's stellar performance outshines the former record set in May, where miners gathered $919.22 million. The grand total, enhanced by an impressive $324.83 million in onchain fees, marks a celestial 64.27% growth, equivalent to an additional $590.78 million.

December's Galactic Surge: 1.64 Times Greater Than May's Record!

Showcasing the interstellar resilience of Bitcoin mining, December's achievement stands 1.64 times greater than May's record. Fueled by the expanding importance of onchain fees, Bitcoin reaffirms its position as a cosmic pioneer in the dynamic universe of digital finance.

Interplanetary Transaction Rates: December's Crypto Cosmos!

As observed through bitinfocharts.com's telescope, December's onchain transaction rates rocket to unprecedented heights. The average fee soars to 231 satoshis per virtual byte (sats/vB), equivalent to $20.86 per transaction. On December 31, 2023, the median-sized fee records at $9.60 per transaction or 106.3 sats/vB.

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23.5K views17:16
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2023-12-31 08:48:30
Bitwise Unleashes $200 Million Wave: Dive into the Spot Bitcoin ETF Revolution!

Breaking through the barriers of traditional finance, Bitwise is making waves with a revised S-1 filing to the U.S. Securities and Exchange Commission (SEC), signaling the imminent arrival of their spot bitcoin exchange-traded fund (ETF). Get ready to ride the crypto tide as Bitwise's latest creation, bearing the ticker symbol BITB, prepares for a splashy debut.

The $200 Million Surge: A Tsunami of Investment Opportunities!

Bitwise has turned heads by revealing a mystery player eager to ride the crypto wave, expressing interest in securing a staggering $200 million worth of shares. These digital treasures will be available through authorized participants or the vibrant marketplace, with skilled broker-dealers navigating the currents.

Market Momentum: BITB Makes Waves Across Social Media Platforms!

The news reverberates through the crypto community, capturing the attention of Bloomberg ETF analyst Eric Balchunas, who shares his insights on the dynamic social media platform X. The potential for a $200 million investment amplifies the crypto chatter, creating ripples of anticipation.

Bitwise's Cautionary Current: Navigate the Crypto Waters Prudently!

Amid the excitement, Bitwise drops an anchor of caution, reminding enthusiasts that expressions of interest are not binding commitments. The potential investor retains the freedom to adjust their investment strategy, deciding to ride the crypto wave with more, fewer, or no shares at all.

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31.1K views05:48
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2023-12-30 18:16:07
Indonesia Takes a Stand: 10 Bitcoin Mines Shut Down!

The North Sumatra Police Force has made a bold move by cracking down on a sprawling Bitcoin mining operation spanning 10 locations in Indonesia. In a recent report, it was revealed that 1,134 Bitcoin mining machines were confiscated, alongside 11 meters of electrical cable and computer equipment.

Irjen Agung Setya Imam Effendi, Chief of North Sumatra Police, accused the organizers of the operation of tampering with electrical circuits to power the extensive network of Bitcoin mining machines. This development echoes the growing global trend of authorities tightening regulations around cryptocurrency activities.

The crackdown in Indonesia comes on the heels of a landmark case in China, where a government official received a life sentence for facilitating electricity access to Bitcoin miners. Yi Xiao, the former vice chairman of the Jiangxi Provincial Political Consultative Conference Party Group, faced life imprisonment for his involvement in a $329 million Bitcoin mining enterprise.

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20.0K views15:16
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2023-12-30 09:24:06
Breaking: Catalyx Crypto Platform Faces Breach - Withdrawals Halted!

CatalX CTS, the force behind Catalyx, dropped a bombshell with a security breach, likely involving an insider. In response, Catalyx swiftly activated a joint operation with Deloitte for thorough forensic and investigative services.

Insider Suspicion: Initial reports point fingers at a possible internal involvement, raising concerns about employee integrity.

Deloitte on the Case: The crypto platform takes no chances, partnering with Deloitte to conduct a comprehensive investigation into the breach.

User Restrictions: In a precautionary move, Catalyx temporarily suspends trading and withdrawals, leaving users in a waiting game for more details on the impacted assets.

Cease Trade Twist: Adding to the drama, a cease trade order by the Alberta Securities Commission puts a halt on securities and derivatives trading, complicating Catalyx's situation.

Timely Updates: Users eagerly anticipate updates, and the investigation's findings, during the suspension period until Jan. 5, 2024.

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28.3K views06:24
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