🤬 SEC May Delay ETF Decision as Their Work Load Piles Up
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As the most anticipated deadline for a Bitcoin ETF approval draws closer, The United States Securities and Exchange Commission (SEC) faces a tight deadline with a large pile of paperwork still waiting to be sorted. Despite this, the market stays hopeful. A FOX Business journalist, Eleanor Terrett has voiced her doubts about an immediate approval. She emphasized that the SEC is unpredictable but the recent surge in the price of bitcoin shows that the market is still optimistic.
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As the most anticipated deadline for a Bitcoin ETF approval draws closer, The United States Securities and Exchange Commission (SEC) faces a tight deadline with a large pile of paperwork still waiting to be sorted. Despite this, the market stays hopeful. A FOX Business journalist, Eleanor Terrett has voiced her doubts about an immediate approval. She emphasized that the SEC is unpredictable but the recent surge in the price of bitcoin shows that the market is still optimistic.
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🛑 SEC will reject all bitcoin spot ETFs in January, says Matrixport analyst
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In contrast to broad market consensus, Matrixport analyst Markus Thielen anticipates that the Securities and Exchange Commission will decline all bitcoin spot ETF proposals in January. Despite the frequent meetings and updated S-1 prospectuses between filers and the SEC in recent weeks, Thielen pointed out in a report that these applications still fall short of a critical requirement that must be met before the SEC can approve them.
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In contrast to broad market consensus, Matrixport analyst Markus Thielen anticipates that the Securities and Exchange Commission will decline all bitcoin spot ETF proposals in January. Despite the frequent meetings and updated S-1 prospectuses between filers and the SEC in recent weeks, Thielen pointed out in a report that these applications still fall short of a critical requirement that must be met before the SEC can approve them.
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✅ At Least 3 SEC Commissioners Are For ETF Approval Says Bloomberg Analyst
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Eric Balchunas, a senior ETF analyst for Bloomberg, has stated that at least 3, out of the 5 SEC commissioners, are in favor of approving the bitcoin spot ETFs. "The Staff, under [SEC chair Gary] Gensler's guidance, has worked with issuers for months, even through holidays," Balchunas said before adding: "And we already know two other commissioners are for approval, so there's 3." Which is all that is needed as three out of five commissioners would be enough to approve the bitcoin spot ETFs.
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Eric Balchunas, a senior ETF analyst for Bloomberg, has stated that at least 3, out of the 5 SEC commissioners, are in favor of approving the bitcoin spot ETFs. "The Staff, under [SEC chair Gary] Gensler's guidance, has worked with issuers for months, even through holidays," Balchunas said before adding: "And we already know two other commissioners are for approval, so there's 3." Which is all that is needed as three out of five commissioners would be enough to approve the bitcoin spot ETFs.
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🔥 Cryptocurrency Journalist Jacquelyn Melinek Speaks- “According to Sources Very Close to the Subject, SEC Will Approve Bitcoin Spot ETFs, Big Day Tomorrow”
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Jacquelyn Melinek, senior cryptocurrency journalist at Techcrunch, one of the popular platforms in the field of technology, announced in her statement that “according to information obtained from sources extremely close to the subject, the SEC will approve the Bitcoin Spot ETF applications of many companies.” Melinek said that the new development regarding approvals will probably come tomorrow. Bloomberg's cryptocurrency expert James Seyffart also gave the message that “we are getting closer” regarding Bitcoin Spot ETFs in his post about 1 hour ago. Bloomberg analysts Eric Balchunas and James Seyffart have long thought that Bitcoin Spot ETFs will be approved.
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Jacquelyn Melinek, senior cryptocurrency journalist at Techcrunch, one of the popular platforms in the field of technology, announced in her statement that “according to information obtained from sources extremely close to the subject, the SEC will approve the Bitcoin Spot ETF applications of many companies.” Melinek said that the new development regarding approvals will probably come tomorrow. Bloomberg's cryptocurrency expert James Seyffart also gave the message that “we are getting closer” regarding Bitcoin Spot ETFs in his post about 1 hour ago. Bloomberg analysts Eric Balchunas and James Seyffart have long thought that Bitcoin Spot ETFs will be approved.
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🚀 The Bitcoin ETFs Are Unofficially Approved as BlackRock Amends 19b-4
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"It’s basically done," says Eric Balchunas, a senior ETF analyst for Bloomberg after Nasdaq filed the much anticipated amended 19b-4 forms for BlackRock and Valkyrie. Bloomberg is reporting that SEC asked issuers to file the amendments as "staff had no additional feedback on the paperwork for several of the firms after the latest amendments." This means that SEC has informally approved the ETFs with official approvals to follow on Monday. "Latest I’m hearing (from multiple sources) is that final S-1s are due 8am on Monday as SEC is trying to line everyone up for Jan 11th launch," Balchunas says. If that does play out then the ETFs will start trading on Thursday. As many as 11 might be approved, but which ones exactly remains to be seen although BlackRock, Fidelity and other big names will most likely go through.
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"It’s basically done," says Eric Balchunas, a senior ETF analyst for Bloomberg after Nasdaq filed the much anticipated amended 19b-4 forms for BlackRock and Valkyrie. Bloomberg is reporting that SEC asked issuers to file the amendments as "staff had no additional feedback on the paperwork for several of the firms after the latest amendments." This means that SEC has informally approved the ETFs with official approvals to follow on Monday. "Latest I’m hearing (from multiple sources) is that final S-1s are due 8am on Monday as SEC is trying to line everyone up for Jan 11th launch," Balchunas says. If that does play out then the ETFs will start trading on Thursday. As many as 11 might be approved, but which ones exactly remains to be seen although BlackRock, Fidelity and other big names will most likely go through.
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💭 Big Week For Bitcoin as Investors Bet on a Jan 10 ETF Approval
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A big week is coming for cryptocurrencies, especially Bitcoin [BTC], because the U.S. Securities and Exchange Commission (SEC) will decide on Bitcoin exchange-traded funds (ETFs). BlackRock, the world's largest asset manager, expects approval on January 10th. They asked the SEC last June for an ETF based on Bitcoin's real price. This move shows that big companies are interested in Bitcoin. In related news, the biggest asset manager globally plans to cut jobs soon, this could be in preparation for a positive decision from the US SEC about their Bitcoin ETF. BlackRock and other firms want to introduce a BTC ETF in the US, which tracks Bitcoin's price, the biggest digital currency.
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A big week is coming for cryptocurrencies, especially Bitcoin [BTC], because the U.S. Securities and Exchange Commission (SEC) will decide on Bitcoin exchange-traded funds (ETFs). BlackRock, the world's largest asset manager, expects approval on January 10th. They asked the SEC last June for an ETF based on Bitcoin's real price. This move shows that big companies are interested in Bitcoin. In related news, the biggest asset manager globally plans to cut jobs soon, this could be in preparation for a positive decision from the US SEC about their Bitcoin ETF. BlackRock and other firms want to introduce a BTC ETF in the US, which tracks Bitcoin's price, the biggest digital currency.
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📰 This Week In Crypto (CW1 - Happy new year!)
1. Cryptocurrency investors eagerly awaiting SEC ruling on bitcoin ETFs
2. Bitcoin tops $45,000 for the first time since April 2022 as crypto jumps to kick off new year
3. Early Mickey Mouse version becomes top NFT on OpenSea after copyright expires
4. Nigeria Slaps Strict Rules on Banks After Lifting Crypto Ban
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CW52 (last week)
1. Cryptocurrency investors eagerly awaiting SEC ruling on bitcoin ETFs
2. Bitcoin tops $45,000 for the first time since April 2022 as crypto jumps to kick off new year
3. Early Mickey Mouse version becomes top NFT on OpenSea after copyright expires
4. Nigeria Slaps Strict Rules on Banks After Lifting Crypto Ban
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CW52 (last week)
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⚠️ SEC Exec Warns Investor Against FOMO as ETF Deadline Approaches
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Lori Schock, the Director of the SEC’s Office of Investor Education and Advocacy has warned investors against FOMO (Fear of Missing Out) which could lead them to make quick investment decisions, especially in cryptocurrencies. She emphasized how risky cryptocurrencies, ICOs, meme tokens, and NFTs are despite their popularity. People often get excited by news on Social Media and end up investing without properly thinking or researching, she said. While Cryptocurrencies are very trendy, they are unpredictable and very volatile. She warns investors to be careful and avoid investing in cryptocurrencies because it’s trendy
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Lori Schock, the Director of the SEC’s Office of Investor Education and Advocacy has warned investors against FOMO (Fear of Missing Out) which could lead them to make quick investment decisions, especially in cryptocurrencies. She emphasized how risky cryptocurrencies, ICOs, meme tokens, and NFTs are despite their popularity. People often get excited by news on Social Media and end up investing without properly thinking or researching, she said. While Cryptocurrencies are very trendy, they are unpredictable and very volatile. She warns investors to be careful and avoid investing in cryptocurrencies because it’s trendy
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🚀 Valkyrie expects spot bitcoin ETFs to go effective Wednesday with trading beginning Thursday
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Crypto traders are holding their breath waiting for the United States Securities and Exchanges Commission to approve or reject a first bitcoin spot exchange-traded fund — and one of the issuers, Valkyrie Investments, is anticipating a decision shortly. “We’re expecting the SEC will deem the ETFs effective at close of business on Wednesday and the trading to begin on Thursday morning,” Valkyrie Investments co-founder and CIO Steven McClurg told The Block in an interview.
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Crypto traders are holding their breath waiting for the United States Securities and Exchanges Commission to approve or reject a first bitcoin spot exchange-traded fund — and one of the issuers, Valkyrie Investments, is anticipating a decision shortly. “We’re expecting the SEC will deem the ETFs effective at close of business on Wednesday and the trading to begin on Thursday morning,” Valkyrie Investments co-founder and CIO Steven McClurg told The Block in an interview.
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👨💻 BREAKING: Gary Gensler Says SEC’s X Account Hacked, Bitcoin Spot ETFs Not Yet Approved
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According to the SEC chairman's statement, the post announcing the approval of Bitcoin Spot ETFs was made by the hacker who took over the SEC's official X account. So currently Bitcoin Spot ETFs have not received official approval. On the other hand, the relevant confirmation post was deleted from the SEC's Twitter account.
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According to the SEC chairman's statement, the post announcing the approval of Bitcoin Spot ETFs was made by the hacker who took over the SEC's official X account. So currently Bitcoin Spot ETFs have not received official approval. On the other hand, the relevant confirmation post was deleted from the SEC's Twitter account.
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🐥 Musk 'Open To The Idea Of Using Bitcoin On X,' Reveals Personal And SpaceX Crypto Holdings
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Elon Musk, in conversation with Ark Invest CEO Cathie Wood on Wednesday, shared his thoughts on the use of Bitcoin. While Musk reiterated his typically passive stance toward the apex cryptocurrency, stating, “I don’t spend a lot of time thinking about Bitcoin.” However, he said he is “open to the idea of using Bitcoin on X.” Musk added, “Bitcoin is like gold. Bitcoin is not good for payments.” He also revealed his personal and SpaceX’s investments in cryptocurrencies. “I own a lot of Dogecoin and SpaceX owns Bitcoin,” he said.
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Elon Musk, in conversation with Ark Invest CEO Cathie Wood on Wednesday, shared his thoughts on the use of Bitcoin. While Musk reiterated his typically passive stance toward the apex cryptocurrency, stating, “I don’t spend a lot of time thinking about Bitcoin.” However, he said he is “open to the idea of using Bitcoin on X.” Musk added, “Bitcoin is like gold. Bitcoin is not good for payments.” He also revealed his personal and SpaceX’s investments in cryptocurrencies. “I own a lot of Dogecoin and SpaceX owns Bitcoin,” he said.
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🚀 XRP ETFs Set To Reach SEC’s Desk As Billions Ready To Pour Into XRP Following Ripple’s Huge Win Against SEC
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Steven McClurg, co-founder of crypto asset manager Valkyrie, hinted at the possibility of the SEC approval of XRP exchange-traded funds (ETFs) following the launch of spot Bitcoin ETFs. In a recent interview, Valkyrie co-founder and chief investment officer Steven McClurg discussed the likelihood of XRP ETFs. Speaking to Bloomberg Crypto, McClurg said, “It wouldn’t surprise me if we saw Ripple or Ethereum spot ETFs out there” when asked whether the U.S. Securities and Exchange Commission’s (SEC) approval of Bitcoin ETFs could pave the way for similar offerings in the XRP and Ethereum markets.
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Steven McClurg, co-founder of crypto asset manager Valkyrie, hinted at the possibility of the SEC approval of XRP exchange-traded funds (ETFs) following the launch of spot Bitcoin ETFs. In a recent interview, Valkyrie co-founder and chief investment officer Steven McClurg discussed the likelihood of XRP ETFs. Speaking to Bloomberg Crypto, McClurg said, “It wouldn’t surprise me if we saw Ripple or Ethereum spot ETFs out there” when asked whether the U.S. Securities and Exchange Commission’s (SEC) approval of Bitcoin ETFs could pave the way for similar offerings in the XRP and Ethereum markets.
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🪙 Ethereum ETF Hype Surges as BlackRock CEO Endorses the Asset
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The winds of change are sweeping through the digital finance landscape, with whispers of a potential Ethereum revolution spearheaded by none other than BlackRock, the world’s financial behemoth. This shift, hinted at by CEO Larry Fink’s recent remarks, could have profound implications for the future of cryptocurrencies and blockchain technology. Fink, a traditionally conservative figure in the financial world, surprised many with his open support for Ethereum, calling it “a store of value” with significant potential. This endorsement, coming from the head of an asset manager with over $10 trillion under its wing, carries immense weight, sending ripples of excitement through the crypto community. This pivot by BlackRock isn’t happening in a vacuum.
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The winds of change are sweeping through the digital finance landscape, with whispers of a potential Ethereum revolution spearheaded by none other than BlackRock, the world’s financial behemoth. This shift, hinted at by CEO Larry Fink’s recent remarks, could have profound implications for the future of cryptocurrencies and blockchain technology. Fink, a traditionally conservative figure in the financial world, surprised many with his open support for Ethereum, calling it “a store of value” with significant potential. This endorsement, coming from the head of an asset manager with over $10 trillion under its wing, carries immense weight, sending ripples of excitement through the crypto community. This pivot by BlackRock isn’t happening in a vacuum.
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🙃 BlackRock Drains 13 Days’ BTC Worth, Triggering Supply Crunch Worries
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In a recent post on X, pro-Bitcoin advocate “InvestAnswers” unveiled a startling revelation about BlackRock’s substantial Bitcoin acquisitions, sparking concerns of a looming supply crunch. According to the post, BlackRock, one of the world’s largest asset management firms, absorbed a staggering 11,500 BTC from the market in just two days. Given that approximately 900 BTCs are issued daily, BlackRock’s accumulation represents a significant chunk of the daily supply. Specifically, the tweet highlighted that the 11,500 BTC withdrawal accounts for about 13 days’ worth of Bitcoin production. Notably, the BlackRock figure amounts to approximately $500 million at Bitcoin’s market value.
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In a recent post on X, pro-Bitcoin advocate “InvestAnswers” unveiled a startling revelation about BlackRock’s substantial Bitcoin acquisitions, sparking concerns of a looming supply crunch. According to the post, BlackRock, one of the world’s largest asset management firms, absorbed a staggering 11,500 BTC from the market in just two days. Given that approximately 900 BTCs are issued daily, BlackRock’s accumulation represents a significant chunk of the daily supply. Specifically, the tweet highlighted that the 11,500 BTC withdrawal accounts for about 13 days’ worth of Bitcoin production. Notably, the BlackRock figure amounts to approximately $500 million at Bitcoin’s market value.
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📰 This Week In Crypto (CW2)
1. SEC approves Bitcoin investment fund, worrying cryptocurrency critics
2. SEC did not have 2FA enabled: X safety team on fake Bitcoin ETF post
3. India bans foreign crypto platforms like Binance, Kucoin
4. Hong Kong Virtual Asset Consortium removes XRP from global crypto index
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CW1 (last week)
1. SEC approves Bitcoin investment fund, worrying cryptocurrency critics
2. SEC did not have 2FA enabled: X safety team on fake Bitcoin ETF post
3. India bans foreign crypto platforms like Binance, Kucoin
4. Hong Kong Virtual Asset Consortium removes XRP from global crypto index
🚀 Get your daily news summarized with CryptoExplorer AI
CW1 (last week)
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👨💻 Hacker’s Attempt To Steal Over $15 Billion in XRP From Bitfinex Fails
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Bitfinex CEO reveals failed hacking attempt using XRP Ledger; nearly $15B in XRP targeted. It was recently revealed by the CEO of Bitfinex, Paolo Ardoino that there was an attempt to exploit their system using a feature of the XRP Ledger network. The hackers' attempt to move nearly $15 billion in XRP ( half of XRP’s total value) was noticed.
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Bitfinex CEO reveals failed hacking attempt using XRP Ledger; nearly $15B in XRP targeted. It was recently revealed by the CEO of Bitfinex, Paolo Ardoino that there was an attempt to exploit their system using a feature of the XRP Ledger network. The hackers' attempt to move nearly $15 billion in XRP ( half of XRP’s total value) was noticed.
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📉 TrueUSD stablecoin depegs as holders dump $330M in TUSD
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Justin Sun-linked stablecoin TrueUSD (TUSD) has fallen below its $1 peg amid reports that holders have been cashing out hundreds of millions worth of TUSD in exchange for competitor stablecoin Tether
USDT first fell significantly below its peg just around Jan. 15, 11:00 am UTC, tumbling as low as $0.984 at 11:15 pm. At the time of publication, TUSD is trading for $0.988, 1.3% below its intended $1 peg, per CoinMarketCap data.
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Justin Sun-linked stablecoin TrueUSD (TUSD) has fallen below its $1 peg amid reports that holders have been cashing out hundreds of millions worth of TUSD in exchange for competitor stablecoin Tether
USDT first fell significantly below its peg just around Jan. 15, 11:00 am UTC, tumbling as low as $0.984 at 11:15 pm. At the time of publication, TUSD is trading for $0.988, 1.3% below its intended $1 peg, per CoinMarketCap data.
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👑 Bitcoin Backs Down: Ethereum Steals The Spotlight With Surge In Market Dominance
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Amidst the lull in the realm of Bitcoin, Ethereum emerges as a trailblazer, confidently charting its course. While the crypto king takes a breather following its ETF approval, Ethereum, undeterred, is experiencing a surge in both price and dominance, propelled by an influx of new users and the prevailing trend of self-custody. Recent data from Santiment vividly illustrates Ethereum’s ascendancy. The platform’s price dominance, reflecting its market share in comparison to all other cryptocurrencies, has witnessed a remarkable surge of 22.4% within a mere week.
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Amidst the lull in the realm of Bitcoin, Ethereum emerges as a trailblazer, confidently charting its course. While the crypto king takes a breather following its ETF approval, Ethereum, undeterred, is experiencing a surge in both price and dominance, propelled by an influx of new users and the prevailing trend of self-custody. Recent data from Santiment vividly illustrates Ethereum’s ascendancy. The platform’s price dominance, reflecting its market share in comparison to all other cryptocurrencies, has witnessed a remarkable surge of 22.4% within a mere week.
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🪙 SEC v. Coinbase: Federal Judge Says “Tokens Are Not Securities”
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The legal brawl between the SEC and crypto exchanges took a new turn in a recent hearing where United States Judge Katherine Polk Failla cross-examined the regulator. The judge remains unsatisfied with the SEC’s statements against Coinbase, and XRP advocate Bill Morgan believes this is a sign that cryptocurrencies will eventually be acknowledged as non-securities in the U.S. During the hearing, Judge Failla demanded that the SEC provide clearer definitions of terms including “securities” and “staking”, while the SEC criticized Coinbase. According to an X post by Fox Business reporter Eleanor Terrett, the SEC argued that Coinbase is creating a “new version of the Howey Test.”
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The legal brawl between the SEC and crypto exchanges took a new turn in a recent hearing where United States Judge Katherine Polk Failla cross-examined the regulator. The judge remains unsatisfied with the SEC’s statements against Coinbase, and XRP advocate Bill Morgan believes this is a sign that cryptocurrencies will eventually be acknowledged as non-securities in the U.S. During the hearing, Judge Failla demanded that the SEC provide clearer definitions of terms including “securities” and “staking”, while the SEC criticized Coinbase. According to an X post by Fox Business reporter Eleanor Terrett, the SEC argued that Coinbase is creating a “new version of the Howey Test.”
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🪂 XRP price falls near critical support level as Bitcoin and crypto market correct
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XRP price has dropped 10% in January as investors book profits and broader bearish sentiment takes over the cryptocurrency market. XRP price now appears primed for further losses in the short term, primarily due to a classic bearish pattern. On Jan. 3, XRP broke below the support line of a descending triangle at $0.5934, risking a 17% correction. Now, XRP has been trading sideways below the technical chart pattern, and this bearish pattern forms when the price consolidates inside a triangle defined by a series of lower highs and relatively equal lows.
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XRP price has dropped 10% in January as investors book profits and broader bearish sentiment takes over the cryptocurrency market. XRP price now appears primed for further losses in the short term, primarily due to a classic bearish pattern. On Jan. 3, XRP broke below the support line of a descending triangle at $0.5934, risking a 17% correction. Now, XRP has been trading sideways below the technical chart pattern, and this bearish pattern forms when the price consolidates inside a triangle defined by a series of lower highs and relatively equal lows.
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