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The Federal Reserve (Fed) has received a letter from three U.S. Senators, including Elizabeth Warren, who is famously known for opposing cryptocurrencies, expressing their desire for lower interest rates. This correspondence informed them that current interest rates, prevailing for 23 years, have peaked while other nations, such as those influenced by the ECB, have already…
Increasing Global Acceptance of Bitcoin-Based Products Nations across the globe are beginning to approve products modeled on Bitcoin. Most recently, Thailand has come on board citing the rapid rise of crypto adaptation in the country. Thailand’s Securities and Exchange Commission (SEC) has allowed a company that wanted to operate a Bitcoin spot exchange-traded Fund (ETF)….
Following the SEC’s endorsement of the 19b-4 forms, the gradual progression toward listing funds on exchanges has begun. One of the major steps is to have listings at Depository Trust and Clearing Corporation (DTCC) such as Fidelity’s Ether spot ETF alongside BlackRock, VanEck, and Franklin Templeton products. Fidelity’s Significant Listing Fidelity which is one of…
The discussion for cryptocurrency is getting hotter as the elections draw nearer, and SEC chairman Gary Gensler expresses his apprehension about FIT21. This new legislative document is set to be tabled before U.S. House Representatives tomorrow. Gensler heavily faults FIT21, saying that if implemented, it will sideline SEC and hurt the $100 trillion capital markets…
The evening in the cryptocurrency market was full of events. However, the latest update in Bloomberg raises hope that Ethereum ETF applications could now be approved with a probability of 75% while the price surges are very much evident on the market. People anticipated that the US Securities and Exchange Commission (SEC) would deny the…
Ripple Labs has made great progress in its legal dispute with the United States Securities and Exchange Commission (SEC). Recently, the SEC entered the remedial process, providing its final response. Despite the court’s previous dismissal of Ripple Labs’ ‘fair notice’ defense, the SEC has looked into the blockchain startup’s claim that its conduct were not…
Gary Gensler, the chairman of the U.S. Securities and Exchange Commission (SEC), reiterated his stance on cryptocurrencies during a recent television appearance. When asked about Ether ETFs, he stated, “These requests are currently under consideration… A 5-member commission will make a decision,” yet he refrained from disclosing further details. Similar Remarks on Cryptocurrencies In light…
A new wrinkle arises in the legal saga launched by the US Department of Justice last year against Binance and its founder Changpeng Zhao, which resulted in an initial penalty of more than $4.3 billion. The Department now seeks a 36-month prison sentence for CZ. Allegations and Request for Imprisonment Judicial procedures are preventing Binance…
Greyscale, the world’s largest asset manager, is challenging to maintain its dominance in the spot bitcoin ETF market. Despite a significant capital withdrawal from the GBTC core, Greyscale remains adamant. Ten has unveiled plans for a smaller bitcoin ETF that features more competitive fees, to fend off competition from rivals. Grayscale’s Response to Market Trends…
The market value of tokenized US Treasury notes has soared beyond $1 billion. However, data meticulously tracked by 21.co reveals the collective value now stands at an impressive $1.08 billion. Major public blockchains like Ethereum, Polygon, and Avalanche facilitate this transformative growth. Moreover, Stellar and others also play significant roles in this surge. Therefore, this…
In a recent address, the Chairman of the United States Securities and Exchange Commission (SEC), Gary Gensler, shed light on a pressing issue within the realm of cryptocurrency securities. Gensler articulated that certain entities operating in the crypto securities market are endeavoring to circumvent registration mandates. As a result, this maneuver, he underscored results in…
Recent data from SoSoValue has shed light on the movement within Bitcoin spot ETFs. On March 22nd, these ETFs experienced a notable net outflow totaling $51.6 million. This movement reflects a period of uncertainty and fluctuation in the market, prompting investors to reconsider their positions. Grayscale ETF GBTC: A Singular Event One standout in this…