Bitcoin & Crypto Trading

2024-05-07 20:59:58 Fidelity leads with inflows as Bitcoin ETFs capture $217M in one day

According to Farside data, the Bitcoin ETFs (Exchange-Traded Funds) in the US witnessed another net inflow day on May 6, reaching $217.0 million. This massive influx comes just days after another significant inflow was recorded on May 3. Grayscale’s GBTC saw an inflow of $3.9 million, marking back-to-back inflows for the fund. Despite these positive developments, GBTC has still recorded total outflows of $17.4 billion. Fidelity (FBTC) emerged as the leader, attracting the largest inflow of $99.2 million on May 6.

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2024-05-07 10:15:16 SEC punts Galaxy spot Ethereum ETF decision to July

The United States Securities and Exchange Commission has delayed its decision on Galaxy Invesco’s application for a spot Ether exchange-traded fund (ETF). “The Commission finds that it is appropriate to designate a longer period within which to issue an order approving or disapproving the proposed rule change so that it has sufficient time to consider the proposed rule change and the issues raised therein,” the SEC wrote.

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2024-05-06 20:00:56 SEC issues Robinhood Crypto with Wells Notice, citing alleged securities violations

Robinhood Crypto, the crypto unit of the brokerage firm Robinhood Markets, received a Wells Notice from the U.S. Securities and Exchange Commission (SEC) on May 4. The exchange said the SEC staff has made a preliminary determination to recommend an enforcement action against the crypto unit, alleging securities violations, according to a Form 8-K filed today.

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2024-05-05 19:15:32 Sui Token Supply Is Controversial When Over 84% Of Staked Tokens Are Controlled By Founders

Despite Sui’s claim of a capped supply of 10 billion tokens, Bons highlighted an imbalance in token distribution. According to Bons, over 84% of the staked Sui token supply is controlled by the founders, raising centralization risks due to the absence of lock-ins and legal guarantees for token holders. He criticized Sui’s communication, labeling the foundation’s published chart as misleading and expressing doubts about transparency.

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2024-05-05 08:55:15 Block Is Buying Bitcoin Every Month for Its Balance Sheet

Block Inc. has announced its strategy of regularly purchasing bitcoin for its corporate balance sheet via dollar-cost averaging (DCA). The company plans to allocate 10% of its monthly gross profit from bitcoin products towards investments in the cryptocurrency. “We view bitcoin as an instrument of global economic empowerment; it is a way for individuals around the world to participate in a global monetary system and secure their own financial future,” the company stated.

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2024-05-04 17:45:28 Arthur Hayes predicts Bitcoin is poised for a steady rise in value

Former BitMEX CEO Arthur Hayes expressed optimism regarding Bitcoin’s future trajectory, suggesting that the recent downturn marks a local bottom, with the flagship crypto poised for a gradual ascent over the coming months. Hayes shared his insights in a blog post on May 3, attributing the recent market slump to a variety of factors, including the US tax season, concerns over Federal Reserve policies, the “sell the news” effect following the Bitcoin halving, and a slowdown in spot Bitcoin ETF inflows.

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2024-05-03 19:50:24 Spot bitcoin ETFs see reduced daily outflows, totaling $34 million

Spot bitcoin exchange-traded funds (ETFs) in the U.S. experienced a net outflow of $34.4 million on Thursday, indicating a slowdown compared to the previous day’s record outflows. BlackRock and Fidelity’s bitcoin funds, which are ranked second and third in terms of total net assets, both recorded zero flows on Thursday. Bloomberg’s ETF analyst James Seyffart previously explained that a day of zero flows is normal in ETFs.

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2024-05-03 12:14:21 Tectum team showcases instant #Bitcoin payments using SoftNote. Mass Adoption is already here! Time to buy $TET
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2024-05-03 07:55:14 Terraform Labs' lawyers push back against SEC, argue token sales were mostly outside US

Lawyers for Terraform Labs pushed back against the Securities and Exchange Commission after the agency requested them to pay billions of dollars in fines. Terraform's offer and sales of tokens happened "almost entirely outside the U.S." the firm's lawyers argued in a brief filed on Wednesday. Meanwhile, the SEC has argued that the firm "targeted U.S. investors" and says they should pay $5.3 billion in fines, most of that being in disgorgement.

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2024-05-02 20:55:34 Microstrategy Plans to Launch a Decentralized Identity Solution on Bitcoin

According to an unofficial draft on Github, the Orange platform leverages the Bitcoin Inscription DID method (did:btc), which incorporates data inscriptions in Bitcoin’s witness sections to manage decentralized identifiers (DIDs). By utilizing unspent transaction outputs (UTXOs) on the Bitcoin blockchain, Microstrategy Orange aims to ensure a secure and efficient management of digital identities, reducing both transaction fees and block space.

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