Gimme The Coin

2023-12-30 16:32:47 Crypto Miners’ Bitcoin Reserves Hit Lowest Level Since May Amidst Increased Selling Pressure

Bitcoin miner reserves have reached their lowest point since May, signaling increased selling pressure as the largest cryptocurrency records a December gain of more than 13%.

Data from CryptoQuant indicates that Bitcoin miners’ reserves have been steadily decreasing since the beginning of December. In the past 24 hours alone, miners reportedly sold around 3,000 bitcoins, bringing their total holdings to approximately 1,834,447 BTC.

On December 28, the net flow of Bitcoin stood at minus 1,524 BTC, indicating that withdrawals exceeded the new coins minted. This ongoing trend raises questions about potential selling activities by miners and their impact on the overall market dynamics.

The decline in miner reserves started in late October and has accelerated this month, reaching 1.832 million BTC from October’s high of 1.845 million. In the last 24 hours alone, miners reportedly sold approximately $129 million worth of BTC at the current trading price of $42,891. Open / Comment

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2023-12-28 18:00:09 Ready To Fight is giving away 1,000,000 tokens!

Ready To Fight is a cutting-edge platform in the boxing world, co-founded by Oleksandr Usyk. Backed by the WBC, this project brings together the sport of boxing with the Web3 universe.

RTF is currently hosting a community contest — offering everyone a chance to win a share of 1,000,000 RTF tokens! To claim a prize, participants need to be active on social media and in the mobile app. No costs involved, just your energy and passion for boxing!

The total prize fund is 1,000,000 RTF tokens.

Contest duration: from December 27, 2023, to February 27, 2024!

Tasks are already available on Zealy and will soon be accessible on the RTF App. They will be updated regularly, so seize the opportunity to complete as many tasks as possible during the contest period!

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2023-12-28 16:32:46 Hong Kong to Become the Next Crypto ETF Hub as BTC ETF Anticipation Continues in US

Hong Kong is poised to become a leading hub for cryptocurrency exchange-traded funds (ETFs), particularly spot Bitcoin (BTC) ETFs, as anticipation grows for the approval of such ETFs in the United States.

Industry leaders believe that Hong Kong’s Securities and Futures Commission (SFC), which has shown a positive stance towards digital assets, sets a favorable stage for the introduction of spot Bitcoin ETFs.

Yat Siu, chairman of web3 investor Animoca Brands, said the SFC is open to widening access to digital assets, claiming that a spot Bitcoin ETF would be relatively uncontroversial.

Siu also noted that Hong Kong could take reference from the extensive public filings and applications related to ETFs in the United States, which has made significant progress in this area. Open / Comment

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2023-12-26 16:32:59 US-Approved Spot Bitcoin ETFs Could Surpass Entire $50 Billion Crypto ETP Market: BitMEX

The global market for cryptocurrency exchange-traded products (ETPs) has reached a significant milestone, currently comprising approximately 150 products with a total value of $50.3 billion in assets under management, as reported by BitMEX research.

According to the research, the potential approval of spot Bitcoin exchange-traded funds (ETFs) in the United States may significantly impact the crypto ETF market. This substantial market includes both spot and futures funds, primarily tracking the performance of leading cryptocurrencies such as Bitcoin and Ethereum.

The dominance of Bitcoin within the crypto ETP space is evident, with the total value of Bitcoin ETFs alone standing at an impressive $35.4 billion. Notable products contributing to this figure include the Grayscale Bitcoin Trust (GBTC), with assets totaling $27,077.4 million, and the Proshares Bitcoin Strat ETF (BITO), with $1,645.3 million in assets.

Beyond Bitcoin, the report provides insights into the diverse landscape of cryptocurrency ETPs. Ethereum, for instance, contributes significantly with a subtotal of $8,824.5 million, prominently featuring the Grayscale Ethereum Trust (ETHE) with $6,861.8 million in assets. Open / Comment

2023-12-24 16:32:38 Crypto Expert Chosen by Erdogan for Turkey’s Central Bank Board

Turkey President Recep Tayyip Erdoğan has appointed professor Fatma Ozkul, an expert in crypto assets and blockchain technology, to the central bank’s rate-setting committee. According to a recent report from Bloomberg, the nomination of Ozkul was announced in a decree on December 22.

Since 2012, Ozkul has been a lecturer at Istanbul’s Marmara University, with a focus on accounting, finance, and auditing. Her expertise extends to blockchain technology and digital assets, and she even authored a book on crypto asset accounting in 2022, as stated in her university profile.

Ozkul is now the latest addition to Turkey’s central bank Monetary Policy Committee, whose primary responsibility is to set the benchmark interest rate to control inflation. On December 21, the committee raised the country’s interest rate by 2.5 percentage points to 42.5% as a response to Turkey’s inflation rate surpassing 61.98% in November.

After winning Turkey’s general election in May, Erdoğan reportedly formed a new economic team, appointing former Goldman Sachs banker Hafize Gaye Erkan as the governor of the central bank. In 2022, the central bank successfully conducted the initial test of its own digital currency, the Digital Turkish Lira. Open / Comment

2023-12-22 16:32:17 El Salvador Passes Law to Offer Citizenship to Foreign Bitcoin Investors

El Salvador‘s Congress has passed a new law enabling foreign citizens to obtain citizenship by investing in Bitcoin, according to Reuters.

On Dec. 21, the Salvadoran unicameral legislature, dominated by President Nayib Bukele‘s New Ideas party, voted in favor of the new citizenship law. Conducted during a late-night session, the vote garnered significant support, paving the way for the swift enactment of the policy.

The newly approved law grants expedited citizenship to foreign investors who make Bitcoin “donations” towards El Salvador’s social and economic development programs. This approach is part of a broader strategy to attract foreign investment and bolster the nation’s economy. The law notably omits a minimum donation requirement, making it accessible to a wide range of investors.

Furthermore, the law simplifies the naturalization process for non-Spanish-speaking investors, waiving the typical five-year residency requirement. Instead, individuals who invest in Bitcoin can gain citizenship more rapidly, a move that aligns with El Salvador’s pioneering adoption of Bitcoin as legal tender in 2021. Open / Comment

2023-12-20 16:33:26 China’s Ministry of Industry Aims to Foster NFT and Dapp Growth Despite Crypto Ban

China’s Ministry of Industry and Information Technology has published a document outlining its current and future work on developing Web3 and related technologies, including metaverse, non-fungible tokens (NFTs), and decentralized apps (dapps).

The document is a response to a proposal by Wu Jiezhuang, a member of the National Committee of the Chinese People’s Political Consultative Conference. The Ministry examined Wu’s ‘Proposal on Promoting the Development of Web3 Industry,’ along with the Chinese Academy of Sciences and the China Association for Science and Technology.

They concluded that Wu’s suggestions align with the Ministry’s direction, as the latter “attaches great importance” to the Web3 industry development. In particular, the Ministry acknowledged China’s advantages in developing Web3, including proper industrial foundation and broad development space.

Firstly, the Ministry and the Cyberspace Administration of China have issued a series of policies, including the Guiding Opinions on Accelerating the Application of Blockchain Technology and Industrial Development. Open / Comment

2023-12-18 18:04:36 Binance Crackdown Unleashes Unprecedented Scrutiny on Crypto Transactions

The recent crackdown on Binance by the US Department of Justice (DOJ) has triggered a seismic shift in how the crypto industry operates, with Binance now set to undergo what experts call an “unprecedented” level of scrutiny.

The government scrutiny, which Binance has agreed to in its settlement deal with the US government, will transform the exchange from “a haven for anarchic crypto commerce” to a meticulously monitored entity, Wired wrote in a report from earlier this month.

The settlement, considered one of the most substantial money-laundering settlements in the history of the US Justice Department, imposed a record-breaking $4.3 billion fine on the company. Open / Comment