The New York Department of Financial Services (DFS) is preparing to announce a settlement with Genesis Global, a subsidiary of the Digital Currency Group (DCG), according to a recent report by Fortune Magazine. DFS Superintendent Adrienne Harris has voiced concerns over Genesis’ failure to maintain a functional compliance program, which she believes shows a disregard […]
The US Securities and Exchange Commission (SEC) has approved 11 Bitcoin Exchange-Traded Funds (ETFs) in a move celebrated by crypto investors. The simultaneous approval of these ETFs is intended to provide a level playing field for issuers.Many ETF issuers have offered low fees to attract more investors, with some, such as Fidelity and Bitwise, even […]
BlackRock CEO Larry Fink has expressed skepticism about the feasibility of Bitcoin as a medium for everyday transactions, insisting that it should be seen as an asset class. In a recent interview with CNBC, Fink articulated his belief in Bitcoin as an alternative form of wealth storage, rather than a potential replacement for national currencies.“I […]
Bitcoin experienced a significant drop of 9%, falling below $42K, despite the general optimism surrounding Bitcoin ETFs. The price of Bitcoin plummeted to as low as $41,730 at 10:25 p.m. UTC on Friday, marking a 24-hour loss of approximately 9%. However, by 11:25 p.m. UTC, Bitcoin’s price had partially recovered to $42,850, resulting in a […]
Bitcoin and other top ten cryptocurrencies such as ethereum, XRP, and solana have experienced a sharp decline, despite a massive $10 trillion bitcoin price bet. This has resulted in a nearly 10% drop in bitcoin price over the last 24 hours, affecting the price of other major cryptocurrencies and erasing around $100 billion from the […]
U.S. Senators Ron Wyden and Cynthia Lummis have called for an investigation into the U.S. Securities and Exchange Commission (SEC) following a security breach. The lawmakers penned a letter to the SEC’s Inspector General, Deborah Jeffrey, on January 11, requesting an inquiry into the breach that took place two days prior and the agency’s failure […]
The U.S. Securities and Exchange Commission’s (SEC) position on an Ethereum-based exchange-traded fund (ETF) is currently a hot topic among financial analysts and major investment firms. Despite the widespread anticipation, JPMorgan has voiced doubts about the SEC’s approval of a spot ETF by May 2024, unless Ethereum is classified as a commodity.The SEC has been […]
A JPMorgan executive has recently predicted a 50% chance of a spot Ethereum ETF being approved in May. Nikolaos Panigirtzoglou, a Managing Director for JPMorgan, expressed his views on the matter, stating that for the U.S. Securities and Exchange Commission (SEC) to approve spot Ethereum ETFs in May, Ethereum would need to be classified as […]
SEC Chair Gary Gensler has labeled the approval of Bitcoin ETFs as ‘ironic’ due to their centralized nature, which contradicts the decentralized vision of Bitcoin’s creator, Satoshi Nakamoto. In a recent interview on CNBC’s “Squawk Box”, Gensler delved into the reasons behind the SEC’s approval of these ETFs and addressed concerns raised by Senator Elizabeth […]
Asset management giant Vanguard, despite its public distancing from the cryptocurrency market, has significant exposure to Bitcoin through its large stake in MicroStrategy (MSTR). As per Yahoo Finance data, Vanguard Group is the second-largest institutional shareholder in MicroStrategy, holding over 1,126 million MSTR stocks, which equates to 8.24% of ownership as of September 2023.MicroStrategy’s stock […]
