Blockchain Progress

2023-12-24 19:37:01 Blackrock Gears Up for Bitcoin Bonanza with a $10M Bet for 2024

The investment game is about to get a serious crypto-boost as Blackrock, the heavyweight champion of asset management, files a strategic move with the SEC. Brace yourselves, finance aficionados, because we're talking about a spot bitcoin ETF that's getting a juice injection of $10 million on the first workday of 2024— a clear sign Blackrock's playing to win in the crypto playground!

Previously, they sowed $100K worth of seed shares last October, but now they're upping the stakes eightfold. Their new strategy? Cash redemption and creation baskets, baby! It's bold, brilliant, and could be bringing home the bacon if the SEC gives a nod of approval.

With Ishares Bitcoin Trust (IBIT) as the contender in the ring, the buzz is all about this ETF trading under a snazzy ticker. Bloomberg's very own James Seyffart lets it slip—Blackrock's prepping for a January 3rd financial festival and we're all invited to watch the fireworks.

But why this sudden cash craze? After a tango with the SEC and a trio of amendments in December, Blackrock shifts from in-kind method to the cash creation model— a strategic pivot aiming for the regulatory green light. Locked in meetings with the SEC more than any other spot bitcoin ETF hopefuls, they're not just in it to win it; they're in it to set the gold standard.

As market prophets and pundits wait with bated breath, the first week of January could spell out a multi-ETF fiesta, with Blackrock leading the Bitcoin ball. So, keep your eyes peeled and fingers crossed, crypto-crusaders. The future's bright, the future's bullish, and Blackrock might just be the bellwether we've all been waiting for. Open / Comment

2023-12-18 18:48:00 Report: Worldcoin Set to Resume Kenyan Operations in Early 2024

According to a recent report, Worldcoin representatives have potentially secured an agreement with Kenyan authorities, paving the way for the iris biometric cryptocurrency project to resume operations under new guidelines. This development is expected to take place in early 2024.

The news comes after Kenyan regulators suspended Worldcoin's distribution of WLD tokens to users who consented to have their eyeballs scanned. This move was prompted by concerns that Worldcoin lacked the necessary license to operate in the East African country.

Following the suspension, Worldcoin representatives engaged with Kenyan authorities and even appeared before the country’s legislative body. Recent reports suggest that Worldcoin may have addressed the initial regulatory concerns, signaling a potential breakthrough.

"Worldcoin is working directly with regulators to meet Kenya’s requirements, particularly as the Assembly considers new regulations. Stipends will remain and will expand to locations across the country," an unnamed source revealed.

However, the report did not specify the timeline for the Kenyan parliament's expected passage of new data regulations that would provide guidance for entities like Worldcoin.

In conclusion, the potential resumption of Worldcoin's operations in Kenya is an intriguing development that could have a significant impact on the cryptocurrency landscape in the region. The collaboration between Worldcoin and Kenyan authorities reflects a willingness to address regulatory concerns and work towards a mutually beneficial framework. As we await further updates, the prospect of Worldcoin expanding its presence across Kenya is undoubtedly an exciting prospect for both the project and the local cryptocurrency community. Open / Comment

2023-12-15 17:56:01 SEC Chair Gensler: We Do Things According to Our Authorities and How Courts Interpret Them

In a recent interview with Bloomberg, SEC Chair Gary Gensler discussed the agency's approach to cryptocurrency and spot bitcoin exchange-traded fund (ETF) applications. This comes after the SEC's decision to expand central clearing in the Treasury market.

Engagement with Spot Bitcoin ETFs

Gensler acknowledged that the SEC staff has engaged with various issuers of spot bitcoin ETFs regarding their applications. He mentioned that the agency has between eight and a dozen filings in front of them and that staff responds to market participants' filings.

Legal Matters and Court Interpretation

The SEC chairman emphasized that the agency operates according to its authorities and how courts interpret them. He referred to a recent court case involving the SEC v. Grayscale Investments, where the court ruled in favor of the crypto asset manager, instructing the SEC to reconsider the application for a spot bitcoin ETF.

Regulatory Priorities and Treasury Market

Gensler highlighted the significance of the $26 trillion Treasury market, placing it as a top priority on his regulatory agenda. He stressed its crucial role in government funding, Federal Reserve policy, and global dollar dominance, emphasizing its consequential and important nature.

Crypto Securities and Noncompliance

In contrast, Gensler pointed out that crypto securities are much smaller in scale compared to the Treasury market. He emphasized that many investors have been harmed in the crypto market due to noncompliance with securities laws, as well as regulations from other agencies such as the CFTC, Treasury Department, and FinCEN. Open / Comment

2023-12-12 20:10:15 Jailed Mastermind of South African Bitcoin Scam Reportedly Getting Preferential Treatment in Brazilian Prison



Allegations of Special Treatment

Johann Styenberg, the mastermind of the online bitcoin investment scam Mirror Trading International (MTI), has reportedly accessed a computer and the internet while detained in a Brazilian prison. According to a local report, Steynberg has allegedly used the computer to access the internet from inside the Goiás prison warden’s office.

Accusations and Appeals

In addition to using the warden’s office to access the internet, the MTI mastermind is also accused of rendezvousing with his “wife” and lawyer in this office. Steynberg has been in detention since his arrest in December 2021 for using forged identity documents. A Brazilian court has since sentenced the CEO of the collapsed bitcoin scam entity to three and a half years in prison for the crime. However, Steynberg, who faces extradition to either the U.S. or South Africa, has appealed the ruling.

Calls for Investigation and International Involvement

The fresh allegations against Steynberg were reportedly made by Maxsuel Miranda das Neves, the president of the Union of Servers of the Penal Execution System (SINSEP-GO) in the State of Goiás. In a video shared via Instagram, Miranda das Neves said he has since asked the director general of the prison to investigate the matter. The SINSEP leader said he plans to raise this matter with the FBI, Interpol, the U.S. Embassy, and the Brazilian judge who is handling Steynberg’s fake documents case.

Confirmation and Investigation

A report by Portal da Bitcoin has stated that the General Directorate of Penitentiary Administration (DGAP) has confirmed receiving Miranda das Neves’ complaint. The Criminal Police has reaffirmed that the fact is being investigated seriously and with commitment to the legislation. At the end of the investigation, the result will be announced. Open / Comment

2023-12-09 18:57:03 Indian Government Confirms Commitment to Supporting Web3 Startups

The Indian government has reaffirmed its support for startups in the Web3 sector, particularly those innovating in blockchain technology. The Minister of Electronics and Information Technology stated that Web3 represents the future of the internet and that the government is dedicated to ensuring that Indian innovators shape the future of Web3 and the internet.



Minister Chandrasekhar outlined various initiatives undertaken by the Ministry of Electronics and Information Technology (Meity) to support Web3 startups. This includes the establishment of a Centre of Excellence (CoE) focused on blockchain technology in collaboration with various organizations and the government. The CoE provides specialized incubation facilities and support for startups in the field of emerging technologies.

Additionally, Meity supports startups through various schemes such as the Technology Incubation and Development of Entrepreneurs (TIDE 2.0) Scheme, the Product Innovation, Development and Growth (SAMRIDH) startup accelerator program, the Next Generation Incubation Scheme (NGIS), and the Support for International Patent Protection in E IT (SIP-EIT) Scheme.

In conclusion, the Indian government's commitment to supporting Web3 startups, particularly those focused on blockchain technology, demonstrates its dedication to fostering innovation and technological advancement in the country. This support is crucial for the growth of the Web3 sector in India and will contribute to shaping the future of the in Open / Comment

2023-12-06 19:54:12 Blackrock and Bitwise Update Bitcoin ETF Applications Amid SEC Approval Frenzy

Cryptocurrency enthusiasts are buzzing with excitement as Blackrock and Bitwise have amended their applications for spot Bitcoin exchange-traded funds (ETFs) in the US. The Securities and Exchange Commission (SEC) has held meetings with exchanges and Bitcoin ETF issuers regarding their applications. The prospect of SEC approval has caused a frenzy in the crypto community, with Bloomberg analysts predicting a 90% chance of spot Bitcoin ETF approval by January.



Renewed Optimism: The updated applications from Blackrock and Bitwise signal renewed optimism in the cryptocurrency market. The potential approval of spot Bitcoin ETFs has sparked a surge of interest among investors and traders.

Regulatory Scrutiny: The SEC's meetings with Bitcoin ETF issuers highlight the regulatory scrutiny surrounding these applications. The SEC's decision on spot Bitcoin ETFs will have significant implications for the cryptocurrency market and its future.

Market Impact: If approved, spot Bitcoin ETFs could open up new avenues for investors to gain exposure to Bitcoin, potentially leading to increased market liquidity and mainstream adoption.

Anticipated Approval: With the possibility of spot Bitcoin ETF approval on the horizon, all eyes are on the SEC's decision and its potential impact on the cryptocurrency landscape.



In conclusion, the updated applications for spot Bitcoin ETFs from Blackrock and Bitwise have reignited excitement in the cryptocurrency market, with the prospect of SEC approval driving anticipation and speculation. As the crypto community eagerly awaits the SEC's decision, the future of spot Bitcoin ETFs remains a focal point in the ever-evolving world of digital assets. Open / Comment

2023-12-06 15:00:07 Join Waterfall Protocol for the testnet launch and prepare to earn rewards on the mainnet!

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2023-12-03 19:18:01 Skybridge's Scaramucci Sees 100B Bitcoin Bonanza with Spot ETFs

Dive into the buzz as Anthony Scaramucci forecasts a100 billion surge into Bitcoin with the launch of spot Bitcoin ETFs. Wall Street, get set for a crypto revolution!



Bitcoin's Big Breakthrough: Scaramucci's 100B Wave

Anthony Scaramucci, the financial maestro at Skybridge Capital, has the market buzzing with his latest forecast: a cool 100 billion could pour into Bitcoin with the approval of spot Bitcoin ETFs. This isn't just a splash—it's a tidal wave that could lift the crypto boat to new heights.

The Sales Squadron Mobilizes

Imagine tens of thousands of sales warriors, armed with shiny new investment tools, marching towards traditional finance. Scaramucci sees this battalion unlocking a treasure trove of capital, propelling Bitcoin to mainstream stardom.

The Hedge of Tomorrow

In the tug-of-war between inflation and deflation, Bitcoin emerges as the hero, according to Scaramucci.

Will the Prediction Pan Out?

It's the 100 billion question that has investors perched on the edge of their seats. If Scaramucci's vision comes to fruition, we're not just talking about a financial shift—we're witnessing history. Open / Comment

2023-11-30 19:33:01 Economist Peter Schiff: US Dollar Near ‘Historic Crash’ — ‘Forget Soft Landing, It’s Crash and Burn’

Economist and gold bug Peter Schiff is back with gloomy economic predictions in a series of posts on social media platform X. He wrote on Tuesday:

The U.S. dollar is on the verge of a historic crash. This will be a game changer for the Fed and the economy, as it will send inflation, interest rates, and unemployment soaring. Forget about a soft-landing. It’s crash & burn. The U.S. dollar is toast. As inflation heats up, to avoid getting burned the world will turn to gold as the most viable alternative.

In another post on Wednesday, Schiff detailed: “Bonds are rallying on the Fed’s Beige Book acknowledgment that the economy is slowing. Bond investors should be careful what they wish for. The economy is weaker than the Fed thinks and the result will be larger budget deficits and higher inflation." Open / Comment

2023-11-27 20:24:01 7-Day Crypto Snapshot: BLUR, APE, KLAY, and MINA Lead This Week’s Market Rallies

As of Sunday, November 26, 2023, the total market capitalization of the cryptocurrency sector stands at $1.43 trillion. This week, 17 distinct digital currencies achieved double-digit growth, with BLUR at the forefront with a 72% surge.

Trailing BLUR, apecoin (APE) escalated by 26.3%, and klaytn (KLAY) observed a comparable ascent of 26%. Further, mina protocol (MINA) climbed by 24.1%, while illuvium (ILV) rose 22.9% over the week, as per the data from coingecko.

Pursuing ILV, cryptocurrencies such as uniswap (UNI), sui (SUI), and bittensor (TAO) also experienced notable increases, ranging from 16% to 19.2%. Nevertheless, alongside these gains, several digital assets witnessed declines this week.

Celestia (TIA) experienced a significant drop, losing 21% over the week, and rollbit coin (RLB) decreased in value by 8.1%. Additionally, MATIC fell by 8%, and kaspa (KAS) suffered a 6% decline.

Within the $1.43 trillion crypto economy, bitcoin’s market value represents 51.2% of the total, while ethereum accounts for 17.5% as of November 26. In terms of 24-hour performance, the leading crypto gainers include SUPER, ETHW, ROSE, PRIME, and MAGIC, whereas the most notable losers are SNX, SEI, FTT, and PENDLE. Open / Comment