South African Prosecutors Set to Pursue Collapsed Pyramid Scheme Co-Conspirators
Standard Chartered Predicts Bitcoin Could Hit All-Time High This Weekend
‘Quite Likely’ Bitcoin Explodes to Six Figures This Cycle, Predicts Analyst Kevin Svenson – Here’s His Outlook
Analyst and trader Kevin Svenson is expressing bullish sentiment on Bitcoin (BTC) amid a double-digit rise in the flagship crypto asset’s price over the past seven days. Svenson tells his 78,400 YouTube subscribers that Bitcoin is on a parabolic trend that started in the fourth quarter of 2023 and could rally to a target of […]
The post ‘Quite Likely’ Bitcoin Explodes to Six Figures This Cycle, Predicts Analyst Kevin Svenson – Here’s His Outlook appeared first on The Daily Hodl.
Coinbase, Ripple, Meta Join Forces to Fight Crypto Scams, Including Pig Butchering
House Passes Landmark Crypto Bill Marking ‘Historic Day’ for Americans
Goldman Sachs CEO Forecasts No Fed Rate Cuts This Year
Uniswap Challenges SEC Wells Notice, Defends Autonomous Protocol
TRON DAO at DC Blockchain Summit
Binance Celebrates Bitcoin Pizza Day With Global Pizza Distribution Campaign
SEC engages with Ethereum ETF issuers on S-1 forms
SEC engages with Ethereum ETF issuers on S-1 forms. Approval of 19b-4 filings is expected in less than 20 hours, says Bloomberg analyst.
The post SEC engages with Ethereum ETF issuers on S-1 forms appeared first on Crypto Briefing.
Bitget and PizzaDAO collaborate for global Bitcoin Pizza Day festivities
Bitget partnered with PizzaDAO to host a series of global events to commemorate the first Bitcoin transaction for pizza in 2010.
The post Bitget and PizzaDAO collaborate for global Bitcoin Pizza Day festivities appeared first on Crypto Briefing.
CNBC Fast Money trader says Solana ETFs ’probably’ next, sparking debate
CNBC contributor and crypto investor Brian Kelly said Solana is one of the “big three” coins, meaning it’s likely to be the next to receive ETF treatment.
Crypto investor and CNBC ‘Fast Money’ trader Brian Kelly sparked debate on Crypto X on Wednesday after suggesting that Solana (SOL) could be the next cryptocurrency to get a spot exchange-traded fund (ETF) in the United States.
Kelly made the prediction during the CNBC post-market talk show Fast Money on May 22, a day before the Securities and Exchange Commission is due to decide on at least one proposed spot Ether (ETH) ETF.
Some industry observers didn’t agree with Kelly’s prediction.
Nvidia doubles down on AI future as stock market cap tops $2.5T
The semiconductor giant plans to accelerate its AI chip production cycle following a bumper revenue report driven by AI data centers.
Semiconductor giant Nvidia has no plans to slow its artificial intelligence ambitions following bumper quarterly revenues, netting the firm a record $26 billion for the first quarter.
On May 22, Nvidia released its Q1 earnings report. Revenue jumped 18% from the fourth quarter last year and surged 262% from a year ago, beating analyst estimates of $24.6 billion.
The earnings saw NVDA stock prices surge to an all-time high in after-hours trading on May 22 of just over $1,000, pushing its market capitalization to over $2.5 trillion.
Bitcoin return to $73K could be a start to ‘escape velocity’ phase
A return to the $73,000 price range for BTC will likely be met with short-term holder resistance but could also mark a turning point for the asset.
A potential return of Bitcoin (BTC) to $73,000 could mark the beginning of the asset’s acceleration to “escape velocity,” according to a crypto analyst.
Escape velocity is a term used in astrophysics to describe the minimum speed needed for an object to escape from the gravitational field of a celestial body, like a planet or moon, without further propulsion.
Crypto analyst James Check used the term in a May 21 market report to describe what Bitcoin could do once it retakes the $73,000 price point.
FIT21 crypto bill passes US House: Here’s what could happen next
The crypto-regulating bill is headed to a cloudy future in the Senate with no companion bill and faces one of the country’s most prominent crypto critics.
A bill clarifying the United States securities and commodities regulator’s roles in policing crypto is headed to an unknown future as it makes its way to the Senate before hitting U.S. President Joe Biden’s desk.
The Republican-led Financial Innovation and Technology for the 21st Century Act (FIT21), or H.R. 4763, passed the House on May 22 with 71 Democrats and 208 Republicans in favor and 136 against.
Its future in the Senate is unclear with no companion bill and going up against one of the country’s biggest crypto critics, Elizabeth Warren. The same Senate passed a resolution last week calling to kill a rule restricting banks and crypto firms from doing business, however.
‘Asia’s MicroStrategy’ Metaplanet smashes all other Japanese stocks
Trading in Metaplanet’s stock was halted for two straight days under Tokyo Stock Exchange rules as its shares rocketed over the last week.
Metaplanet, a Japan-based investment firm borrowing from MicroStrategy’s Bitcoin (BTC) playbook, has seen its shares rocket 158% over the last week — becoming the highest gainer among all Japanese stocks.
Metaplanet’s share price is currently 93 Japanese yen, rising 127% in the last two days. The surge caused the Tokyo Stock Exchange to activate a circuit breaker trading halt at least twice in the last week.
It is now close to breaching a $1 billion market cap ($940 million or 14.8 billion Japanese yen at current prices).
8 AI Chatbots Predict Precious Metals Year-End Prices: Gold at $2,800, Silver at $42
Fourteen years ago, someone bought pizza with Bitcoin
Bitcoin Pizza Day, celebrated on May 22, marks the first commercial transaction using cryptocurrency. Learn about its history and how it’s being celebrated in 2021.
The post Fourteen years ago, someone bought pizza with Bitcoin appeared first on Crypto Briefing.
US Spot Bitcoin ETFs See $305M in Inflows; Blackrock’s IBIT Dominates
Top Trader Says Ethereum ETF Could Send Altcoins to the Stratosphere – Here’s His Top Pick
A top crypto trader thinks a spot Ethereum (ETH) exchange-traded fund (ETF) approval in the United States could send altcoins “to the stratosphere.” The pseudonymous analyst known as the Flow Horse tells his 216,300 followers on the social media platform X that a spot ETH ETF would make the crypto markets “get crazier.” “Here I […]
The post Top Trader Says Ethereum ETF Could Send Altcoins to the Stratosphere – Here’s His Top Pick appeared first on The Daily Hodl.
Prosecutors Recommend 5-7 Year Sentence for Former FTX Executive Ryan Salame
3 reasons why Etheruem price looks ready to rally higher
Key Ethereum price metrics suggest that ETH’s pause at $3,800 is temporary.
Increasing expectations of spot Ethereum ETFs being approved in the United States caused the price of Ether (ETH) to jump over 26% over the last two days to trade at highs not seen since March 15.
Since hitting $3,800, ETH price has pulled back slightly, but the possibility of a spot Ethereum ETF approval and fundamental factors and on-chain metrics suggest that the altcoins uptrend remains intact.
One factor supporting Ether’s upside is increasing open long ETH positions in the futures market. Data from on-chain market intelligence firm CryptoQuant shows Ethereum’s total open interest in the derivatives market increased from 2.8 to 3.2 million ETH in a few hours on May 20 after rumors emerged that the United States Securities and Exchange Commission (SEC) was making a U-turn on the approval of spot Ethereum ETFs. This is the highest open interest since January 2023.
US House passes landmark FIT21 crypto bill with bipartisan support
The US House of Representatives has approved the Financial Innovation and Technology for the 21st Century Act (FIT21), a wide-reaching crypto regulation bill, with significant bipartisan support despite opposition from the White House and SEC.
The post US House passes landmark FIT21 crypto bill with bipartisan support appeared first on Crypto Briefing.
White House Won’t Veto Passage of FIT21 Despite Opposition From SEC Chair Gary Gensler
The White House has signalled it won’t veto the passage of the FIT21 bill despite U.S. Securities and Exchange Commission Chair Gary Gensler advocating against it. In a new press release, the White House says it does not support HR 4763, also known as the Financial Innovation and Technology for the 21st Century Act (FIT21), […]
The post White House Won’t Veto Passage of FIT21 Despite Opposition From SEC Chair Gary Gensler appeared first on The Daily Hodl.
US House approves FIT21 crypto bill with bipartisan support
Democratic and Republican lawmakers in the U.S. House of Representatives voted to pass the Financial Innovation and Technology for the 21st Century Act.
A majority of United States House of Representatives members voted in favor of legislation to establish regulatory clarity over digital assets.
In a 279 to 136 vote on May 22, House lawmakers approved H.R.4763, or the Financial Innovation and Technology for the 21st Century (FIT21) Act. If passed by the Senate and signed into law, the bill clarifies the roles the Securities and Exchange Commission (SEC) and Commodity Futures Trading Commission (CFTC) have over digital assets. 71 Democrats joined with 208 Republicans to vote in favor of the bill.
“Unfortunately, our current regulatory framework is preventing digital assets’ innovation from reaching its full potential,” said Representative Patrick McHenry before the House vote. “The SEC and the CFTC are currently in a food fight for control of these asset classes.”
BlackRock, Grayscale and Bitwise amend ETF filings before SEC decision
With the SEC expected to decide by May 23 whether to approve or disapprove a spot Ether exchange-traded fund, three asset managers amended their 19b-4 filings.
Three additional United States-based asset managers with spot Ether (ETH) exchange-traded fund applications in the pipeline have amended their 19b-4 filings with the Securities and Exchange Commission (SEC).
In a May 22 filing from the Nasdaq Stock Market, asset management firm BlackRock amended its spot Ether ETF 19b-4 application to remove provisions for staking. Grayscale and Bitwise filed similar amendments with the New York Stock Exchange Arca. Having the SEC approve the 19b-4 filings would be a step toward greenlighting the listing and trading of spot Ether ETFs on exchanges.
“Neither the Trust, nor the Sponsor, nor the Ether Custodian […] nor any other person associated with the Trust will, directly or indirectly, engage in action where any portion of the Trust’s ETH becomes subject to the Ethereum proof-of-stake validation or is used to earn additional ETH or generate income or other earnings,” said the amended BlackRock filing.
Ethereum ETF approvals becoming ‘giant political issue’ — Joseph Lubin
Ethereum co-founder Joseph Lubin expects several 19b-4 Ether ETF applications to get the green light but anticipates a long wait before they go public.
According to Consensys CEO Joseph Lubin, early-stage applications to launch Ethereum exchange-traded funds (ETFs) in the United States are “as good as done.”
Speaking exclusively to Cointelegraph at DappCon in Berlin, Lubin said several 19b-4 applications filed by firms like BlackRock will be approved by the U.S. Securities and Exchange Commission (SEC). However, their launch to the public could be a more protracted process.
“These 19- b4’s from the exchanges, I think that’s as good as done,” Lubin said.
Ethereum rally stalls at $3.8K — Is SEC ETH ETF decision already priced in?
ETH price gained 25% off mere rumors, but Ethereum derivatives data suggests that Ether could see even more upside.
Ether (ETH) price surged 25% between May 20 and May 21, reaching a nine-week high of $3,840. However, the altcoin encountered resistance, despite growing confidence in the approval of a U.S. spot Ether exchange-traded fund (ETF) by the May 23 deadline. This is when regulators will decide on the application from asset manager VanEck. Traders are now pondering if the stabilization around $3,750 suggests that the Ether ETF approval is already factored into the price.
Analysts have increased their approval expectations after the U.S. Securities and Exchange Commission (SEC) reportedly reached out to the NYSE and Nasdaq to update their 19b-4 filings for the proposed spot Ether ETFs. Crypto lawyer Jake Chervinsky pointed out that this sudden interest from the regulator likely stems from political motives, as U.S. President Joe Biden may wish to appeal to cryptocurrency supporters.
However, there is still no official word from the SEC, which plans to vote on the issue with a panel of five commissioners. Two of them are notably pro-crypto: Hester Peirce and Mark Uyeda. On the other hand, Caroline Crenshaw is known as the SEC’s most vocal critic of the cryptocurrency sector, especially for its inadequate regulation and the risks of fraud and manipulation.
US lawmakers demand SEC-FINRA records on Prometheum ETH custody
Prometheum’s willingness to play along with the SEC’s ambitions for crypto regulation has stirred disapproval in many quarters.
Members of the United States Congress want to know what the Securities and Exchange Commission and Financial Industry Regulatory Authority (FINRA) were talking about when the SEC established Special Purpose Broker-Dealer (SPBD) requirements. They suspect the organizations and crypto trading and custody services provider Prometheum are setting an unwelcome precedent.
Chairman of the House Financial Services Committee Patrick McHenry and subcommittee heads Bill Huizenga and French Hill, all Republicans, stated in a letter to SEC Chair Gary Gensler that they were dissatisfied with the SEC’s response to a March 26 inquiry by 48 members of the House Financial Services and Agriculture Committees concerning Ether’s (ETH) classification as a security, rather than a commodity, and Prometheum’s intent (since realized) as an SPBD to custody ETH.
Related: US lawmakers allege CCP connection in calling for SEC, DOJ investigation of Prometheum