Droppers of btc

2024-01-05 17:07:01 Spot Bitcoin ETF Buzz: Anticipation Climbs as SEC Decision Looms!

As the countdown to the SEC's decision on spot Bitcoin ETFs ticks away, excitement shivers down the spines of crypto enthusiasts and investors alike. The deadline buzzes on January 10, but whispers in the financial world hint that the SEC might pull the trigger earlier. Get your popcorn ready!

Asset managers such as Vaneck, Valkyrie, and Grayscale didn't just dip their toes; they plunged into the SEC pool, with forms flying left and right this past Thursday. Not to be left behind, Fidelity joined the paperwork party on Wednesday, and Bitwise was already mingling last week. They're all vying for a prime spot on prestigious exchanges like NYSE Arca and Cboe BZX Exchange.

Social media detectives seem to think registration filings equate to greenlights. But hold your horses—or should we say bitcoins?—because Bloomberg's very own crypto sleuth, James Seyffart, breaks it down: There's more than one hurdle. A filled-out Form S-1 gets you to the race, but you ain't sprinting without that sweet 19b-4 nod of approval.

The nitty-gritty of unleashing a spot Bitcoin ETF on the market is a peculiar dance of documents and approvals. Vaneck's Gabor Gurbacs taps the mic and advises: Keep cool, folks. While the registration does its backstage warm-up, the spotlight stays off until the S-1 and 19b-4 duet hits the stage in harmony.

In conclusion, the plot thickens around the crypto-block as crypto fanatics and the curious onlookers await the SEC's next move. While the filings are a promising step, they're just the opening act of a show that promises high stakes and even higher hopes. So, stay tuned, keep your emotions in check, and let's see if this rollercoaster heads to the moon or takes a dive! Open / Comment

2024-01-02 16:03:01 The Surprising Power of Spot Bitcoin ETFs: A Game-Changer in The Making?

In the crystal ball of finance, Vaneck's digital guru, Gabor Gurbacs, has a bold vision. While the masses buzz about the here and now of U.S. spot Bitcoin ETFs, he spots a grander future unfurling on the horizon.

"Not just a drop in the ocean," states Gurbacs. We're glued to the immediate ripples, yet he forecasts the eventual tidal waves. Forthcoming spot Bitcoin ETFs might only kickstart with comparatively modest funds, but watch this space!

Drawing parallels with gold's glittering rise post-ETF, he lays down an electrifying trajectory for Bitcoin. Imagine this – a leap from today's $750 billion to a treasure trove of value, painting a future vibrant with excitement and digits.

Holding onto Bitcoin is like clutching a golden ticket—hodlers are poised at the launchpad. Gurbacs envisions these ETFs catapulting Bitcoin into investment stardom, and onto the balance sheets of the big players: nations and investment behemoths.

Revolution or inevitable evolution? Gurbacs bets on a world where Bitcoin's sovereignty extends over its own transformative financial products. Forget following – we're talking about spearheading a movement.

In conclusion, while the immediate splash of spot Bitcoin ETFs may be underestimated, the long-term waves they create could very well redefine the landscape of digital assets. Vaneck's director has us imagine a vibrant future, where gold's past is just a prologue to Bitcoin's booming saga. Open / Comment

2023-12-30 17:17:02 Spot On: Cathie Wood Foresees a Bitcoin Bonanza with ETF Approval

Cathie Wood, Ark Invest CEO anticipates an upswing in Bitcoin's value with looming spot Bitcoin ETFs approvals from the SEC, heating up the crypto street with excitement. The deadline looms on Jan. 10, and Wood's fresh interactions with the SEC hint at an optimistic turn.

Following multiple rejections without feedback, Ark Invest and fellow applicants have recently engaged in a fruitful Q&A with the SEC. "Very positive move," notes Wood. She feels reassured by the SEC's deep dives into their ETF applications, addressing concerns point by point.

As the crypto community braces for the Jan. 10 deadline, Wood speculates a typical 'sell on the news' dip post-approval. However, she's betting on a long-term bullish horizon anticipating hefty institutional inflow as major players await the SEC's green signal to ride the crypto wave effortlessly through the ETFs.

Wood's analysis isn't just speculation. With Bitcoin's capped supply and 15 million bitcoins cemented in long-term holdings, the stage is set for scarcity to fuel prices. A mere 0.1%-0.2% allocation from institutional assets could trigger a significant uptick in Bitcoin's market price.

In conclusion, the crypto cosmos is abuzz with anticipation as the SEC gears up to potentially green-light multiple spot Bitcoin ETFs, paving the way for institutional investment. If Wood's forecast rings true, we might just see Bitcoin's scarcity coupled with fresh institutional capital work its magic on the price charts. Keep your eyes peeled for January's financial fireworks! Open / Comment

2023-12-27 19:22:02 Nobel Laureate Shiller's Alert: Asset Seizure Could Shake Dollar Dominance

In the financial world, predictions often come from the crystal balls of economists. But when Nobel Prize winner Robert Shiller speaks, people listen. His warning? The potential seizure of $300 billion in Russian assets by the U.S. might lead to unforeseen economic ripples, unsettling the dollar's stronghold.

Shiller's viewpoint is explosive: seize Russian assets, and other nations might fear they're next. This could spark a chain reaction threatening the dollar's sanctuary status, nudging countries towards de-dollarization. In simple terms, the U.S. would be unboxing a geopolitical Pandora's box.

The aftershocks could be catastrophic, undermining the very foundation of our dollar-centric financial system. If countries start doubting the dollar, who knows where they'll turn? Even the rationale of moral righteousness can't fully shield the economic fallout that Shiller anticipates.

The global economy is a game of trust, and the U.S. holds a delicate hand. With the Biden administration pushing allies to confiscate assets by February 24th, uncertainty looms large. It's a fiscal chess game with high stakes.

Even the Bank of Russia is pivoting, according to governor Elvira Nabiullina, shifting reserves to assets less vulnerable to U.S. seizure. But those $300 billion won't reclaim themselves, painting a grim picture of the financial landscape.

In conclusion, as Shiller weighs in on the moral versus pragmatic aspects of this move, one thing is crystal clear: when it comes to the global economy, every action has a reaction, and this one might just rattle the very core of the dollar’s dominion. Open / Comment

2023-12-24 19:35:16 Is a Spot Bitcoin ETF Approval on the Horizon? Former SEC Official Sparks Debate

Could the winds of change be blowing through the high-stakes realm of cryptocurrency regulation? John Reed Stark, cybersecurity wizard and ex-chief of the SEC's Internet Enforcement Division, has cast his seasoned eye on recent developments that might signal a seismic shift in the Bitcoin landscape.

After a notable career policing the digital financial frontier, Stark has kept a watchful, and typically skeptical, gaze on crypto. His years at the SEC have honed his instincts, and now, those very instincts hint at an intriguing possibility: the SEC's green light for a spot Bitcoin ETF.

A buzz is building after Stark noted "rare" moves by the SEC, which reached out to spot Bitcoin ETF hopefuls, reportedly ensuring that the i's are dotted with cash creations and the t's crossed, free from the taint of in-kind redemptions. This proactive approach has raised eyebrows and questions alike.

Stark remarked, "Interesting. If these posts are true, some iteration of a spot bitcoin ETF seems likely." Though he's careful to hedge his bets about the exact form such an ETF might take, the subtext is clear: this could be the dawn of something big for crypto enthusiasts.

The irony isn't lost on those who've tracked Stark's views. Once a firm disbeliever in the SEC's ETF embrace, citing overvaluation and a lack of oversight, he's now pondering if SEC Chair Gary Gensle* could ink his legacy with this landmark approval. And with a hint of disbelief, Stark muses, "Strange days indeed."

As anticipation mounts, Stark's change of heart resonates through the crypto world. Could his prediction herald a "mammoth victory for big crypto"? From skeptic to soothsayer, Stark's words leave us on the edge of our seats, watching the horizon for the next big wave in cryptocurrency regulation. Open / Comment

2023-12-21 16:02:03 Supply of Stablecoins on Ethereum Protocol 30% Lower Than in 2022 — Study

According to Six Degree’s stablecoin study, the supply of stablecoins on the Ethereum chain has dropped by more than 30% from the peak of $100 billion to $66 billion since 2022. The stablecoin supply on the Tron network on the other hand went up by over 57% from $31 billion in 2022 to $48.9 billion.

The study data, which covers the period between December 2022 and December 2023, shows the total market value of stablecoins at $129.5 billion by Dec. 16, 2023. This figure is 31% lower than the year’s peak value of $188 billion, the study report noted. In December 2022, the market value of stablecoins was $139 billion.

With respect to Ethereum stablecoin supply by token metric, the study data shows BUSD and USDC accounting for most of the decrease with -36% and -48% respectively. However, USDT, which is the number one stablecoin, saw an increase of 23%.

When breaking down stablecoin ownership by holders, the study data shows that externally owned accounts (EOAs) accounted for approximately 50%. From the remaining 50%, centralized exchanges owned 30% while decentralized finance (defi) platforms accounted for less than 6%.

Commenting on the movement of stablecoins on the Ethereum blockchain during the period under review, the study said: The strong influx of stablecoins on Ethereum played a crucial role in driving the last bull market, particularly during the defi summer period. However, the amount of stablecoin supply in defi protocols on Ethereum has been moving in the opposite direction compared to the overall market trend since 2023.

According to a report, the growing maturity of Ethereum Layer2 solutions has given “a more fertile ground for the development of defi and innovative protocols.” The report also found that around 60% of the stablecoins held by top addresses “are dormant, either being in reserve or inactive. Open / Comment

2023-12-20 14:00:09 Join Waterfall Protocol for the testnet launch and prepare to earn rewards on the mainnet!

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They have been rigorously testing technology since 2021.

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2023-12-15 14:53:01 Coinbase International Exchange Launches Spot Crypto Trading

Cryptocurrency exchange Coinbase (Nasdaq: COIN) has announced the launch of spot markets on Coinbase International Exchange. The exchange will roll out spot trading in several phases, with a focus on building liquidity and creating a robust foundation.

Expansion of Product and Access

The initial launch will include BTC-USDC and ETH-USDC pairs via API access for non-U.S. institutional clients, with plans to expand the product to include retail users, additional assets, and features for new trading strategies and enhanced capital efficiency in the coming months.

Platform Details and Growth

Coinbase International Exchange, launched in May 2023, is available to non-U.S. clients in select jurisdictions. The platform offers institutional clients access to BTC, ETH, LTC, XRP, SOL, and AVAX perpetual futures contracts. Since its launch, the platform has onboarded over 100 institutions, with approximately $10 billion in perpetual futures trading volume in Q3.

Recent Developments

In October, the exchange launched perpetual futures to eligible retail users on Coinbase Advanced, a platform designed for experienced traders. It has also listed 15 perpetual contracts covering more than 70% of the addressable perpetual futures trading market and increased maximum leverage to 10x for all listed contracts. Open / Comment

2023-12-09 19:55:13 Japan Considers Tax Exemption for Corporate Unrealized Crypto Gains

Japan is considering exempting corporations from paying taxes on unrealized profits related to cryptocurrency assets.

The proposed measure, part of Japan's tax code reform, aims to allow companies to avoid taxes on their crypto holdings.

Еhe Japanese government plans to revise its tax code to improve the regime for companies holding cryptocurrency in the long term.

The new provision in the tax code states that corporate crypto assets will not be subject to unrealized profit taxes.

This proposal may lead to a transfer of corporate crypto holdings from foreign countries to Japan. However, this could result in potential tax loss for the Japanese government, causing uncertain damage.

The proposal will only apply to cryptocurrencies held as part of a company's assets and not used for short-term trading purposes.

The Japanese Blockchain Association has called for changes in the tax regime to stimulate Web3 growth in the country and stabilize the market.

Japan has made progress in cryptocurrency taxation, canceling another tax on cryptocurrencies issued by companies. Open / Comment