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Jupiter Soars by Nearly 100%, Leading This Week’s Crypto Gainers

Jupiter Soars by Nearly 100%, Leading This Week’s Crypto GainersOver the past week, bitcoin and ethereum faced declines, while a number of alternative cryptocurrencies enjoyed significant appreciation. Notably, JUP soared by 99.5% against the dollar, with WIF climbing 42% and SOL increasing 37% in the same period. Alternative Crypto Assets Outshine Bitcoin and Ethereum with Double-Digit Growth This Week A plethora of cryptocurrencies, other […]

Binance CEO Now Expects Bitcoin Price to Top Earlier Estimate of $80K This Year

From Laughs to Loot: Meme Coins FLOKI and PEPE See Explosive Growth Amidst Crypto Surge

From Laughs to Loot: Meme Coins FLOKI and PEPE See Explosive Growth Amidst Crypto SurgeOn Friday, bitcoin and ethereum experienced modest upticks, registering increases of 2% to 5%, respectively. Meanwhile, the meme coin FLOKI has soared by 70% in the last 24 hours, with PEPE also making notable gains of 32.7%. Friday saw around ten cryptocurrencies achieving double-digit increases, propelling the total crypto market valuation to $2.6 trillion. Crypto […]

Binance CEO Now Expects Bitcoin Price to Top Earlier Estimate of $80K This Year

Satoshi’s Growing Fortune, JPMorgan Says Halving Priced in, Peter Brandt Raises BTC Price Target, and More — Week in Review

Satoshi’s Growing Fortune, JPMorgan Says Halving Priced in, Peter Brandt Raises BTC Price Target, and More — Week in ReviewBitcoin’s valuation surged past the $1 trillion mark, significantly increasing the net worth of its elusive creator, Satoshi Nakamoto, by nearly $9 billion in two months. JPMorgan Chase analysts have identified the Bitcoin halving event and an upcoming major Ethereum network upgrade as key drivers of cryptocurrency prices. Veteran trader Peter Brandt has revised his […]

Binance CEO Now Expects Bitcoin Price to Top Earlier Estimate of $80K This Year

CPI Report Triggers Market Tumble: Stocks and Crypto Decline as Inflation Concerns Mount

CPI Report Triggers Market Tumble: Stocks and Crypto Decline as Inflation Concerns MountOn Tuesday, the U.S. Bureau of Labor Statistics released its Consumer Price Index (CPI) report, indicating a 0.3% rise in January. Following the release, all three major stock indices experienced a decline, Treasury yields climbed, and crypto assets took a hit, moving downward from their recent peaks. Stocks Dip, Crypto Slumps as January CPI Data […]

Binance CEO Now Expects Bitcoin Price to Top Earlier Estimate of $80K This Year

Cathie Wood’s ARK dumps 800K Grayscale Bitcoin Trust shares

The Grayscale Bitcoin Trust, one of ARK’s top three holdings, could lose its third-place ranking as ARK sheds its shares while increasing its holdings of Jack Dorsey’s Block.

ARK Invest, one of the applicants for a spot Bitcoin (BTC) exchange-traded fund (ETF) in the United States, has continued to dump its holdings of Grayscale Bitcoin Trust (GBTC) stock with the sale of yet another significant batch of shares.

On Dec. 18, ARK sold 809,441 GBTC from its ARK Next Generation Internet ETF (ARKW), according to a trade notification seen by Cointelegraph. Based on the closing share price of $34.5, the sale is worth $27.9 million, according to data from TradingView.

This latest divestment further reduces ARK’s exposure to the Grayscale Bitcoin Trust, with GBTC inching closer to dropping out of the list of ARKW’s top three holdings.

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Binance CEO Now Expects Bitcoin Price to Top Earlier Estimate of $80K This Year

BlackRock, ARK revise Bitcoin ETF plans along SEC’s cash-only model

BlackRock, Cathie Wood’s ARK and WisdomTree are the latest spot Bitcoin ETF applicants to revise their filings with the U.S. SEC.

Major applicants for a spot Bitcoin (BTC) exchange-traded fund (ETF) in the United States are amending their filings to comply with the cash redemption model demanded by securities regulators. 

Investment manager BlackRock and Cathie Wood’s ARK Invest have updated their S-1 registration statements for a spot Bitcoin ETF with the U.S. Securities and Exchange Commission (SEC).

Filed on Dec. 18, the S-1 amendments relate to the cash creation and redemption model for proposed spot Bitcoin ETFs, with BlackRock and ARK accepting the cash redemption system rather than in-kind redemptions, which imply non-monetary payments like BTC.

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Binance CEO Now Expects Bitcoin Price to Top Earlier Estimate of $80K This Year

UK plan on digital securities sandbox laid before Parliament

The regulations will take effect on Jan. 8, with the Bank of England and U.K. Financial Conduct Authority operating the sandbox.

The United Kingdom Financial Services and Markets Act’s provisions on a digital securities sandbox are scheduled to come into force in January 2024 after being presented to Parliament.

In a Dec. 18 publication, the U.K. government announced the Digital Securities Sandbox (DSS) regulations of the 2023 Financial Services and Markets Act, which were laid before Parliament, paving the way for crypto firms to test products and services in the country. According to the government, the regulations will take effect on Jan. 8, with the Bank of England and the U.K. Financial Conduct Authority operating the sandbox.

“The DSS will allow firms and the regulators to test the use of new technology across our financial markets,” said a memo explaining the bill. “In particular, this will involve trialling the use of developing technology (such as distributed ledger technology, or in general technology that facilitates what are commonly referred to as ‘digital assets’) to perform the activities of a central securities depository (specifically notary, settlement and maintenance), and operating a trading venue.”

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Binance CEO Now Expects Bitcoin Price to Top Earlier Estimate of $80K This Year

Revolut Business reportedly cuts crypto services ahead of new rules

The neobank will halt crypto purchases by businesses while it sorts out new ad requirements.

Neobank Revolut will temporarily halt cryptocurrency purchases on its business platform in the United Kingdom at the beginning of the new year, according to a media report. An email informing customers of the decision mentioned only purchasing, implying holding crypto and selling it could go on uninterrupted. 

Revolut said the pause was needed to give it more time to comply with new Financial Conduct Authority (FCA) rules on promoting crypto that come into force on Jan. 8, 2024. Revolut Business will halt crypto purchases on Jan. 3, it said. In a message reproduced in an X (formerly Twitter) post, Revolut Business told customers:

Revolut is the latest of several firms that have been impacted by the FCA rules, which the regulator itself described as “tough.” The rules were announced in June and were intended to bring crypto advertising into line with other high-risk investment products.

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Binance CEO Now Expects Bitcoin Price to Top Earlier Estimate of $80K This Year

Zilliqa on-chain transactions plunge amid ‘technical issue’

“We are still investigating & we should be able to share an update soon,” wrote a Zilliqa community moderator.

The $383-million Zilliqa ecosystem is experiencing disruptions due to a “critical situation” impacting the network.

According to a Dec. 18 post by developers, the Zilliqa blockchain faces a “technical issue that has resulted in an interruption to block production.” Blockchain data shows that daily transactions on Zilliqa subsequently plunged by roughly 50% to 30,906, compared to an average of 61,000 in the past few days.

Activity has since paused, with the last transaction occurring at around 11 am UTC, with no new blocks being produced since then. “The team are working hard to recover the network,” wrote Matt Dyer, Zilliqa’s CEO, in a follow-up.

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Binance CEO Now Expects Bitcoin Price to Top Earlier Estimate of $80K This Year

Unofficial Arweave forking plans draw community controversy

A hard fork proposed by Arweave’s largest layer-2 solution, Irys, is allegedly in the making.

Irys, a prominent layer-2 network within the Arweave ecosystem, allegedly has plans to fork the Arweave network with the intent to “drop the dataset and reset the token supply,” according to a Dec. 17 post by Arweave founder Sam Williams.

He alleges that despite the existence of a safe upgrade mechanism with Arweave, Irys developers plan to proceed with a hard fork that “appears to be a play motivated by greed.” The Arweave founder wrote:

In a rebuttal post the same day, Irys developers stated, “Are we developing new provenance tech? You bet your ass we are,” accusing Arweave developers of “active censorship” in response to alleged efforts to “deplatform Irys from Arweave.” Developers added, “Stay tuned to this space; we have plenty of powerful new features we’re thinking through, and we can’t wait to share them.”

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Binance CEO Now Expects Bitcoin Price to Top Earlier Estimate of $80K This Year