Trump says he is “very positive and [open-minded] to cryptocurrency companies,” advocates for US leadership in crypto industry
Trump champions US leadership in crypto, accepts donations in digital currencies, and criticizes Biden’s stance toward the industry.
The post “I am very positive and [open-minded] to cryptocurrency companies;” “our country must be the leader in the field” – Donald Trump appeared first on Crypto Briefing.
$1,800,000,000,000 Bank Says Customers’ Personal Information Has Been Exposed and Accessed in Mysterious Data Breach
One of the largest banks in the world says a data breach has exposed information on both its customers and employees. In a statement, Santander says it’s aware of “unauthorized access” to a third-party database containing information on an undisclosed number of customers and employees. The bank, which has $1.8 trillion in total assets and […]
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US Bitcoin spot ETFs attract $2 billion in net inflows over two weeks
US spot Bitcoin ETFs recorded $2 billion inflows in two weeks, with BlackRock’s IBIT nearing largest ETF status amid market rally.
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Spot ETH ETFs approved, crypto bill passes US House, and more: Hodler’s Digest, May 19-25
U.S. SEC approves spot Ether ETFs, FIT21 crypto bill goes to the Senate, and Sam Bankman-Fried held in Oklahoma.
The U.S. Securities and Exchange Commission (SEC) has given the regulatory green light to spot Ether exchange-traded funds (ETFs) in the United States on May 23. The approval reaches filings from major firms such as VanEck, BlackRock, Fidelity, Grayscale, Franklin Templeton, ARK 21Shares, Invesco Galaxy, and Bitwise. Issuers must still obtain SEC approval for their S-1 registration statements before the ETFs can officially begin trading. The SEC had previously asked applicants to expedite filings on May 20, with the removal of staking being the most notable amendment seen. The approval was considered an implicit recognition from the SEC that Ether is not a security, according to industry pundits.
The Financial Innovation and Technology for the 21st Century Act (FIT21) passed the U.S. House of Representatives on May 22. The bill now heads to the Senate, where its future is uncertain, facing opposition from Senator Elizabeth Warren. FIT21 proposes giving the Commodity Futures Trading Commission (CFTC) primary control over cryptocurrencies, which the industry views as a more lenient regulator compared to the Securities and Exchange Commission (SEC). The SEC would still regulate cryptocurrencies that arent sufficiently decentralized, but FIT21 introduces a mechanism for cryptocurrencies classified as securities to be sold as commodities. The Biden administration and the SECs Chair, Gary Gensler, have both issued statements opposing the regulation.
Former FTX CEO Sam SBF Bankman-Fried is no longer incarcerated in New York or California, where his parents own a home according to prison records, hes in Oklahoma. As of May 23, inmate records for the Federal Bureau of Prisons showed that Bankman-Fried was being held at the Federal Transfer Center in Oklahoma City. The facility confines inmates on a short-term basis for transfers within the prison system. The transfer appeared to have happened despite Judge Lewis Kaplan of the U.S. District Court for the Southern District of New York recommending SBF stay at the Metropolitan Detention Center, Brooklyn.
Ethereum’s Balance on Exchanges Spikes Amid Possible Sell-the-News Event, According to Crypto Analyst
A widely followed crypto analyst says that Ethereum’s (ETH) balance on crypto exchange platforms is spiking amid a possible sell-the-news event. In a new thread, crypto trader Ali Martinez tells his 62,700 followers on the social media platform X that over the last two weeks, hundreds of thousands of ETH have been transferred to wallets […]
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Nigeria Increases Capital Requirements for Currency Dealers Nearly Sixtyfold to $1.4 Million
The Central Bank of Nigeria has increased the capital requirements for national bureau de change operators from approximately $24,000 to $1.4 million. The central bank has given operators a six-month period to comply and they must apply for new licenses. The bank’s director for risk management stated that street trading of foreign exchange is now […]Elon Musk reportedly building ‘Gigafactory of Compute’ for AI
Musk recently said he expected xAI to catch up to OpenAI and DeepMind Google by the end of 2024.
Billionaire mogul Elon Musk’s xAI has plans to build a supercomputer in partnership with Oracle to power the next version of its “Grok” artificial intelligence (AI) large language model.
According to a report from The Information, citing a presentation shown to xAI stakeholders, the project has been framed as a “Gigafactory of Compute” for training and developing the next generation of the company’s Grok AI system.
Related: Political correctness in AI systems is the biggest concern: Elon Musk
Crypto Exchange Giant OKX To Pull Trading Services From Hong Kong at the End of the Month
The crypto exchange giant OKX will shutter its digital asset trading services in Hong Kong at the end of the month. OKX says it decided to pull its application for a virtual asset trading platform license in Hong Kong “after careful consideration of the business development prospects.” The exchange will stop providing trading services on […]
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Xapo CEO Seamus Rocca Describes Xapos’ Proposition, Talks US Regulation, Emerging Markets, and Stablecoins
Seamus Rocca, CEO of Xapo, had a candid conversation with Bitcoin.com’s COO Jason Sheman, where he shared his accumulated experience and knowledge describing what makes Xapo different from a traditional neobank, talked about U.S. markets and regulations, how emerging markets see crypto, and the necessity of implementing stablecoins in Xapo after Silvergate Banks’ downfall. Xapo […]China Sells $48,900,000,000 in US Treasuries in One Quarter, Analyst Says ‘Clear Intention’ To Dump US Dollar Holdings on Display
The world’s second-largest economy is steadily unloading billions of dollars in US Treasuries. New data from the US Treasury Department shows China pared its Treasury holdings from $816.3 billion in December of last year to $767.4 billion in March. That’s a quarterly decrease of $48.90 billion. The chief Asia foreign-exchange and rates strategist at Bloomberg Intelligence, […]
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FTX Paid More Than $25,000,000 in Hush Money to Whistleblowers, According to Court Examiner
The bankrupt crypto exchange FTX paid more than $25 million worth of hush money to whistleblowers before collapsing in November 2022, according to a new report from a court-appointed examiner. Earlier this year, the U.S. Department of Justice (DOJ) tapped Robert J. Cleary, a lawyer who served as the lead prosecutor on the Unabomber case, […]
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Google blames users for wildly inaccurate ‘AI Overview’ outputs
Elon Musk recently said AI would surpass humans by 2025 but Google’s models are so inaccurate they’re being tuned by hand.
A recent artificial intelligence feature called “AI Overview,” unveiled by search monolith Google, has been handing out inaccurate and dangerous summaries in response to user searches and Google doesn’t appear to have an actual fix for the problem.
As of the time of this article’s writing, Google has disabled certain queries for its “AI Overview” feature after it was widely reported that the system was generating erroneous and potentially harmful outputs.
Reports began to circulate throughout the social and news media communities of a user query asking the search engine how to keep cheese on pizza to which the AI system reportedly responded with text indicating that the user should use glue. In another batch of apparent mess ups, the AI system purportedly told users that at least two dogs owned hotels and pointed to a non-existent dog statue as evidence.
Shifting Sands of Bitcoin Mining: How Hydro-Cooling Tech is Leading the Charge Post-Halving
Now that the halving has occurred and fees are at a six-month low, the profitability of application-specific integrated circuit (ASIC) mining rigs has shifted significantly. It is now essential to ensure electricity is inexpensive and machines are efficient in terms of joules per terahash. The following is an examination of today’s top six ASIC miners […]Solana Meme Coin SEAL Hits $2.5M in Presale Ahead of Exchange Listings
Meme coins are thriving on Solana – with the up-and-coming Sealana (SEAL) token being one of the most talked-about new projects. This seal-themed crypto has already secured over $2.5 million in funding ahead of its highly-anticipated exchange debut in the coming weeks. Sealana’s Presale Passes $2.5M Mark as Retail Traders Buy In Few meme projects […]Coinbase Seeks Immediate Appellate Review in SEC Lawsuit, Citing Recent Legislation
As Coinbase seeks an interlocutory appeal in its legal dispute with the U.S. Securities and Exchange Commission (SEC), recent legislative developments have highlighted a growing discord between U.S. Congress and the SEC over digital asset regulation. This past week, legislators passed comprehensive digital asset legislation aimed at curbing the SEC’s expansive jurisdiction claims. As Coinbase […]Spot Ethereum ETF Approval Could Send ETH to a New Record High, Says Bitwise CIO Matt Hougan
The chief investment officer of crypto fund manager Bitwise is predicting new all-time highs for Ethereum (ETH) if spot ETH exchange-traded funds (ETFs) are ultimately approved. Earlier this week, the U.S. Securities and Exchange Commission (SEC) approved a rule change that sets the stage for the potential green lighting of spot market Ethereum ETFs. In […]
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Join Bitcoin BuildCon Online Conference: Don’t Miss Out on Shaping the Future of Bitcoin
PRESS RELEASE. Date: 27th May 2024 Time: 17:00 UTC Location: Online Bitcoin BuildCon’s main objective is to help builders onboard in the current landscape of BTC development, providing them with insights from key players in the industry. How to get into the new wave of Bitcoin projects, where to deploy, and how to get funded […]Okx Ceases Crypto Trading Services in Hong Kong — Users Advised to Withdraw Assets
Cryptocurrency exchange Okx has decided to withdraw its virtual asset service provider (VASP) license application in Hong Kong. As a result, Okx will stop offering centralized virtual asset trading services to Hong Kong residents by May 31, 2024. The exchange stressed that customer funds remain secure, and withdrawal services will continue unaffected. Okx’s web3 (self-hosted […]Ethereum Dominates NFT Sales Despite Overall Market Drop
Over the past week, non-fungible token (NFT) sales declined by 8.99%, amounting to approximately $137 million. Ethereum topped the charts with $43 million in sales, marking a 20.26% increase from the previous week. NFT Market Shrinks by 8.99%, Ethereum and Bitcoin Lead in Sales NFT sales experienced a decline this week, falling by 8.99% compared […]Bitcoin Is Currently out of the ‘Danger Zone,’ According to Crypto Analyst – But There’s a Catch
A closely followed crypto analyst says that Bitcoin (BTC) is no longer in the “danger zone,” when there is a likelihood of a dip below its range low. Pseudonymous trader Rekt Capital tells his 472,200 followers on the social media platform X that while the “danger zone” has passed, Bitcoin could still dip about 13% […]
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UK Sentences Woman to Prison for Laundering Bitcoin After Police Seize 61K BTC
A woman has been sentenced to nearly seven years in prison for laundering bitcoin tied to a £5 billion fraud in China. Authorities seized over 61,000 bitcoin during their investigation, now worth over $4 billion. The woman denied all charges, claiming she was manipulated by a “mastermind.” 61K Bitcoin Seizure Leads to Jail Sentence A […]Crypto Advocacy Group ‘Stand With Crypto’ Expands to the UK
Stand with Crypto, a global crypto advocacy organization, is expanding its initiative to the United Kingdom. Originating in the U.S., where it has garnered over 700,000 sign-ups and gained momentum with the passing of FIT21 in the House of Representatives, the movement is now mobilizing UK crypto advocates. With over 6 million crypto holders, the […]This Ethereum Rival Could Skyrocket by Nearly 2x Over the Short to Medium-Term, Says Coin Bureau’s Guy Turner
The host of the Coin Bureau YouTube channel, Guy Turner, is expressing bullish sentiment on one Ethereum (ETH) competitor. Turner tells the 2.47 million subscribers of the Coin Bureau channel that the layer-1 blockchain Fantom (FTM) possesses more upside potential based on technical analysis. “The weekly chart appears to be painting a wonky head and […]
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Don’t jump to conclusions about ETH ‘pullbacks’ — Traders
Bitcoin’s price dropped 15% after spot Bitcoin ETFs started trading, but traders aren’t so sure that Ether’s price will react the same way.
Traders are skeptical about assuming that the price of Ether (ETH) will decline after the launch of spot Ether exchange-traded funds (ETFs), similar to what happened with Bitcoin (BTC), after spot Bitcoin ETFs started trading.
“I think there is less likelihood of a selloff here after the ETH ETF compared to the BTC ETF,” crypto trader Matthew Hyland explained in a May 24 post on X.
Hyland pointed out that, unlike Ether, Bitcoin had not experienced a price decline in the period leading up to the approval of spot Bitcoin ETFs on Jan. 10.
US ETH ETF approval pressures Korean regulators
Unlike their U.S. counterparts, Korea’s FSC and FSS have been cautious about allowing crypto trading on traditional securities markets.
Korean regulators are under mounting pressure to approve cryptocurrency exchange-traded funds (ETFs) following the recent approval of spot Ethereum ETFs by the United States Securities and Exchange Commission (SEC).
According to local media, the SEC’s decision regarding Ethereum is expected to exert pressure on Seoul’s financial regulators to reconsider their stance on digital assets.
The SEC greenlighted the creation of ETFs for Ethereum, the world’s second-largest cryptocurrency, on May 24, 2024, following its earlier approval of Bitcoin ETFs in January 2024.
Crydit Unveils Revolutionary Unlimited Crypto Card Redefining Crypto Payments
PRESS RELEASE. [May 25, 2024] – Crydit, with the vision of “Pay Everything,” announces the official launch of the first Unlimited Crypto Card in the industry. Crydit is poised to revolutionize the crypto payment industry, providing users of cryptocurrencies with a free, secure, and convenient payment experience. Key Features of the Crydit Unlimited Crypto Card […]
Study: 60% of US Crypto Investors Don’t Understand Blockchain
‘I Feel Super Confident About That’: Jack Mallers Says Bitcoin To Explode by up to 1,357% – Here’s the Timeline
The CEO of Bitcoin (BTC) wallet and payments application Strike, Jack Mallers, is predicting that the flagship crypto asset could hit a seven-figure price. Mallers says in a new interview with Anthony Pompliano that Bitcoin could soar between 260% and 1,357% in the coming months. “I think we’re still so early in the Bitcoin story. […]
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Decoding FDV: The Importance of Fully Diluted Valuation in Crypto Investments
In a market where substantial portions of tokens are often locked up, understanding Fully Diluted Valuation (FDV) has become essential for investors looking to better evaluate the current value of cryptocurrency projects, as well as better predict the long-term value and risks associated with them. Introduction to FDV Fully Diluted Valuation (FDV) is an important […]Ethereum lacks a ‘simple one-liner’ elevator pitch for boomers — Analysts
While Bitcoin is often marketed as “digital gold,” Ethereum hasn’t quite found its simple elevator pitch yet, according to crypto analysts.
Ethereum (ETH) is lacking an “easy-to-understand” sound bite that will attract the baby boomer generation towards spot Ether exchange-traded funds (ETF), according to analysts.
“Ethereum still has no elevator pitch, despite years of attempts,” Glassnode lead analyst James Check aka “CheckMatey” wrote in a May 24 post on X, following the United States Securities and Exchange Commission’s (SEC) approval of eight spot Ether ETFs on May 23.
“Does a simple one-liner like that exist for Ether? If so, what is it?” added Bloomberg ETF analyst Eric Balchunas, while suggesting that a potential obstacle for the success of spot Ether ETFs will lie in how it resonates with those investors in the 60-80 year old age range.