β JPMorgan CEO Jamie Dimon says he would "close" cryptocurrency down
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JPMorgan CEO Jamie Dimon ramped up his years-long opposition to bitcoin and other digital currencies on Wednesday, suggesting that lawmakers should move to ban cryptocurrency altogether. What they're saying: "If I was the government, I'd close it down," Dimon said at a Senate hearing alongside seven other big bank CEOs. Why it matters: Dimon, of course, is not the government and can't alone move to ban cryptocurrency. However, it showed a rare moment of harmony between the industry and longtime bank antagonist Sen. Elizabeth Warren (D-Mass.) who said cryptocurrency was fueling illicit transactions.
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JPMorgan CEO Jamie Dimon ramped up his years-long opposition to bitcoin and other digital currencies on Wednesday, suggesting that lawmakers should move to ban cryptocurrency altogether. What they're saying: "If I was the government, I'd close it down," Dimon said at a Senate hearing alongside seven other big bank CEOs. Why it matters: Dimon, of course, is not the government and can't alone move to ban cryptocurrency. However, it showed a rare moment of harmony between the industry and longtime bank antagonist Sen. Elizabeth Warren (D-Mass.) who said cryptocurrency was fueling illicit transactions.
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π Bitcoin, Ethereum, and Dogecoin All Jumped This Week
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The crypto winter is thawing, and some of the biggest tokens on the market have come to life in just the past week. There wasn't any major news out from the industry, but there seems to be a very big mood shift happening across crypto. There have been a number of catalysts for the crypto market lately. The bullish move in the stock market has been a very "risk-on" move which has typically translated to cryptocurrencies moving higher as well.
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The crypto winter is thawing, and some of the biggest tokens on the market have come to life in just the past week. There wasn't any major news out from the industry, but there seems to be a very big mood shift happening across crypto. There have been a number of catalysts for the crypto market lately. The bullish move in the stock market has been a very "risk-on" move which has typically translated to cryptocurrencies moving higher as well.
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π° This Week In Crypto (CW49)
1. Binance founder CZ must stay in US until sentencing, judge orders
2. Crypto.com received Electronic Money Institution licence from FCA
3. Stablecoin market cap surges since May 2022, USDT hitting all-time-high of $89 billion
4. SEC pushes deadline to decide on Grayscale spot Ether ETF
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CW48 (last week)
1. Binance founder CZ must stay in US until sentencing, judge orders
2. Crypto.com received Electronic Money Institution licence from FCA
3. Stablecoin market cap surges since May 2022, USDT hitting all-time-high of $89 billion
4. SEC pushes deadline to decide on Grayscale spot Ether ETF
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CW48 (last week)
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β οΈ BlackRock Warns SEC: Classifying Bitcoin as a Security Would Cause Troubles
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The world's biggest asset manager,BlackRock has warned the U.S. Securities and Exchange Commission (SEC) about the impact of potentially classifying Bitcoin as a security. They expressed these in their updated ETF filing, stating that such a classification could make trading and handling Bitcoin in the U.S. difficult. Any SEC action declaring Bitcoin as a security would likely lower its trading value BlackRock explained. They used the SEC's lawsuit against Ripple as a reference, reminding that XRP's market value fell from $100 billion to $10 billion after the SEC filed a lawsuit against Ripple and XRP,
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The world's biggest asset manager,BlackRock has warned the U.S. Securities and Exchange Commission (SEC) about the impact of potentially classifying Bitcoin as a security. They expressed these in their updated ETF filing, stating that such a classification could make trading and handling Bitcoin in the U.S. difficult. Any SEC action declaring Bitcoin as a security would likely lower its trading value BlackRock explained. They used the SEC's lawsuit against Ripple as a reference, reminding that XRP's market value fell from $100 billion to $10 billion after the SEC filed a lawsuit against Ripple and XRP,
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π²πͺ Terra co-founder Do Kwon will stay in Montenegro until February
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Terraform Labs co-founder Do Kwon, expected to be extradited to the United States to face criminal charges, will reportedly stay in Montenegrin custody until February. According to a Dec. 12 Bloomberg report, authorities with the U.S. and South Korea requested Montenegrin officials hold Kwon for an additional two months following the conclusion of his prison sentence. The Terraform Labs co-founder was arrested in Montenegro in March for using falsified travel documents and sentenced to four months behind bars.
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Terraform Labs co-founder Do Kwon, expected to be extradited to the United States to face criminal charges, will reportedly stay in Montenegrin custody until February. According to a Dec. 12 Bloomberg report, authorities with the U.S. and South Korea requested Montenegrin officials hold Kwon for an additional two months following the conclusion of his prison sentence. The Terraform Labs co-founder was arrested in Montenegro in March for using falsified travel documents and sentenced to four months behind bars.
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π Massive $600 Billion Bull Storm Knocks For XRP, Bitcoin, Ether, Solana, Cardano, Shiba Inu
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Big news hits the crypto market as $596 billion floods into the crypto space in Q4 alone. This raises queries about a gargantuan bull run for crypto majors like Ether, XRP, Solana, Cardano, and Shiba Inu. In a recent research report, Binance explores various indicators and narratives to assess whether the crypto market will sustain its upward momentum or turn in the other direction.
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Big news hits the crypto market as $596 billion floods into the crypto space in Q4 alone. This raises queries about a gargantuan bull run for crypto majors like Ether, XRP, Solana, Cardano, and Shiba Inu. In a recent research report, Binance explores various indicators and narratives to assess whether the crypto market will sustain its upward momentum or turn in the other direction.
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π·πΊ Russian Ministry of Finance Proposes Exporting Cryptocurrencies as a Commodity, akin to Natural Gas
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The Russian Ministry of Finance has presented the idea of exporting cryptocurrencies as a product of mining activities. The move is intended to position digital currencies on an equal footing with traditional exports, such as natural gas, potentially reshaping the landscape of the digital currency industry. Ivan Chebeskov, the Deputy Minister of Finance, shared details of this innovative initiative during a round table discussion titled βCryptocurrency and the Future of Digital Finance.β
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The Russian Ministry of Finance has presented the idea of exporting cryptocurrencies as a product of mining activities. The move is intended to position digital currencies on an equal footing with traditional exports, such as natural gas, potentially reshaping the landscape of the digital currency industry. Ivan Chebeskov, the Deputy Minister of Finance, shared details of this innovative initiative during a round table discussion titled βCryptocurrency and the Future of Digital Finance.β
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π SEC Now Reviewing ETF Applications Based on Court Rulings: Gensler
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Chairman of The U.S. SEC, Gary Gensler, has shown openness to Bitcoin spot ETFs, hinting that there could be changes after recent court rulings. In a CNBC interview, he discussed the SEC's review of these ETFs based on recent court decisions. The SEC is considering 8-12 applications for Bitcoin spot ETFs, Gensler stated. He explained that they are now reviewing these applications based on court guidelines. When the interviewer asked questions about the Grayscale application, Gensler gave an unclear response to avoid answering.
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Chairman of The U.S. SEC, Gary Gensler, has shown openness to Bitcoin spot ETFs, hinting that there could be changes after recent court rulings. In a CNBC interview, he discussed the SEC's review of these ETFs based on recent court decisions. The SEC is considering 8-12 applications for Bitcoin spot ETFs, Gensler stated. He explained that they are now reviewing these applications based on court guidelines. When the interviewer asked questions about the Grayscale application, Gensler gave an unclear response to avoid answering.
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βοΈ COINBASE SUES SEC FOR REJECTING ITS PETITION
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Coinbase, a leading player in the cryptocurrency exchange market, has initiated legal action against the U.S. Securities and Exchange Commission (SEC). This lawsuit comes in response to the SECβs rejection of Coinbaseβs petition for clearer cryptocurrency regulations. This legal battle marks a significant escalation in the ongoing tension between the crypto industry and regulatory authorities, underscoring the complex and often contentious nature of cryptocurrency regulation in the United States.
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Coinbase, a leading player in the cryptocurrency exchange market, has initiated legal action against the U.S. Securities and Exchange Commission (SEC). This lawsuit comes in response to the SECβs rejection of Coinbaseβs petition for clearer cryptocurrency regulations. This legal battle marks a significant escalation in the ongoing tension between the crypto industry and regulatory authorities, underscoring the complex and often contentious nature of cryptocurrency regulation in the United States.
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π° This Week In Crypto (CW50)
1. Bitcoin Above $42K Again as Fed Holds Interest Rates Steady
2. Ledger Code Library Attacker Drains $480k After Compromising Dozens of Web3 Dapps
3. Four Individuals Charged for Laundering Millions from Cryptocurrency Investment Scams
4. Senator Warren proposes stricter crypto regulations
5. BlackRock revises spot Bitcoin ETF to enable easier access for banks
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CW49 (last week)
1. Bitcoin Above $42K Again as Fed Holds Interest Rates Steady
2. Ledger Code Library Attacker Drains $480k After Compromising Dozens of Web3 Dapps
3. Four Individuals Charged for Laundering Millions from Cryptocurrency Investment Scams
4. Senator Warren proposes stricter crypto regulations
5. BlackRock revises spot Bitcoin ETF to enable easier access for banks
π Get your daily news summarized with CryptoExplorer AI
CW49 (last week)
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πͺ Tether responds to US lawmakersβ calls for DOJ action, onboards FBI
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Tether, the company behind the stablecoin Tether, disclosed letters directed to United States lawmakers addressing requests for intervention by the Department of Justice (DOJ) about the illicit use of its stablecoin. The communications were sent to members of the U.S. Senate Committee on Banking, Housing, and Urban Affairs and the U.S. House Financial Services Committee on Nov. 16 and Dec. 15, detailing βTetherβs commitment to fighting illicit use of stablecoins.β
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Tether, the company behind the stablecoin Tether, disclosed letters directed to United States lawmakers addressing requests for intervention by the Department of Justice (DOJ) about the illicit use of its stablecoin. The communications were sent to members of the U.S. Senate Committee on Banking, Housing, and Urban Affairs and the U.S. House Financial Services Committee on Nov. 16 and Dec. 15, detailing βTetherβs commitment to fighting illicit use of stablecoins.β
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πΊ Bitwise drops commercial for its spot Bitcoin ETF
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In a bold and strategically-timed move, Bitwise, a San Francisco-based asset manager, has unveiled its latest endeavor to capture the burgeoning cryptocurrency market: a commercial for its spot Bitcoin ETF. This move, signifying a confident step forward in their ongoing application process with the US Securities and Exchange Commission (SEC), marks a pivotal moment in the companyβs journey. Notably, the commercial features Jonathan Goldsmith, famous for his role as βThe Most Interesting Man in the World,β linking his iconic character to the innovative spirit of Bitwiseβs latest offering..
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In a bold and strategically-timed move, Bitwise, a San Francisco-based asset manager, has unveiled its latest endeavor to capture the burgeoning cryptocurrency market: a commercial for its spot Bitcoin ETF. This move, signifying a confident step forward in their ongoing application process with the US Securities and Exchange Commission (SEC), marks a pivotal moment in the companyβs journey. Notably, the commercial features Jonathan Goldsmith, famous for his role as βThe Most Interesting Man in the World,β linking his iconic character to the innovative spirit of Bitwiseβs latest offering..
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π Bitcoin ETF Applicants Roll Out Multiple Bitcoin Ads Ahead of Approval
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While the crypto world still anticipates a decision from the SEC regarding a Bitcoin Spot ETF, Some of the applicants have started rolling out their crypto ads for a Bitcoin ETF, two companies, Bitwise and Hashdex, launched a total of three ads in just two days, stirring excitement and optimism among crypto supporters. Bitwise was the first to make a move, releasing an ad featuring Jonathan Goldsmith, famously known as the βMost Interesting Man in the Worldβ from a beer campaign. He promoted Bitwise's Bitcoin ETF, a new financial product.
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While the crypto world still anticipates a decision from the SEC regarding a Bitcoin Spot ETF, Some of the applicants have started rolling out their crypto ads for a Bitcoin ETF, two companies, Bitwise and Hashdex, launched a total of three ads in just two days, stirring excitement and optimism among crypto supporters. Bitwise was the first to make a move, releasing an ad featuring Jonathan Goldsmith, famously known as the βMost Interesting Man in the Worldβ from a beer campaign. He promoted Bitwise's Bitcoin ETF, a new financial product.
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π£ $30 Trillion Influx into Ether, XRP, Solana, Cardano, Shiba Inu Predicted After Spot Bitcoin ETF Approval Next Month
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Grayscale CEO Michael Sonnenshein is optimistic that the approval of a spot Bitcoin ETF could trigger a significant inflow of funds into the cryptocurrency market. Speaking during a CNBC interview on Monday, Sonnenshein noted that the approval of spot Bitcoin ETFs in the United States could βunlockβ around β$30 trillion worth of advised wealth.β He emphasized that this untapped source could flow into the crypto market, marking a significant shift in the landscape for cryptos such as Ethereum, XRP, Solana, Cardano, and Shiba Inu.
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Grayscale CEO Michael Sonnenshein is optimistic that the approval of a spot Bitcoin ETF could trigger a significant inflow of funds into the cryptocurrency market. Speaking during a CNBC interview on Monday, Sonnenshein noted that the approval of spot Bitcoin ETFs in the United States could βunlockβ around β$30 trillion worth of advised wealth.β He emphasized that this untapped source could flow into the crypto market, marking a significant shift in the landscape for cryptos such as Ethereum, XRP, Solana, Cardano, and Shiba Inu.
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π Sec engages in joint conference call with Bitcoin ETF applicants amid approval speculations
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In a recent development, the U.S. Securities and Exchange Commission (SEC) is reportedly in discussions with multiple applicants seeking approval for spot Bitcoin exchange-traded funds (ETFs). FOX Business correspondent Charles Gasparino revealed insider information, stating that the SEC is holding a rare joint conference call with prospective Bitcoin ETF filers.
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In a recent development, the U.S. Securities and Exchange Commission (SEC) is reportedly in discussions with multiple applicants seeking approval for spot Bitcoin exchange-traded funds (ETFs). FOX Business correspondent Charles Gasparino revealed insider information, stating that the SEC is holding a rare joint conference call with prospective Bitcoin ETF filers.
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πΊπΈ PETITION TO STOP CRYPTO BAN IN THE UNITED STATES GAINS MOMENTUM
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In recent developments, a petition opposing the proposed Digital Asset Anti-Money Laundering Act in the United States has gained significant traction. Initiated on Change.org by the Chamber of Digital Commerce, a leading United States blockchain and digital asset trade association, the βStop The Crypto Banβ petition aims to counter the potential consequences of the legislation introduced by Senator Elizabeth Warren.
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In recent developments, a petition opposing the proposed Digital Asset Anti-Money Laundering Act in the United States has gained significant traction. Initiated on Change.org by the Chamber of Digital Commerce, a leading United States blockchain and digital asset trade association, the βStop The Crypto Banβ petition aims to counter the potential consequences of the legislation introduced by Senator Elizabeth Warren.
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π° This Week In Crypto (CW51)
1. SEC delays several Ethereum ETFs, pushing final decision to May
2. XRP Brutally Denied: Doomed to Miss Bull Run?
3. Coinbase Responds to Senator Warren: A Call for Balanced Cryptocurrency Regulation to Protect National Interests
4. FTX debtors and liquidators reach βnovel and mutually-beneficialβ settlement
5. Shifting Interest from the US to HongKong as Leaders Urged To File XRP Spot ETF
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CW50 (last week)
1. SEC delays several Ethereum ETFs, pushing final decision to May
2. XRP Brutally Denied: Doomed to Miss Bull Run?
3. Coinbase Responds to Senator Warren: A Call for Balanced Cryptocurrency Regulation to Protect National Interests
4. FTX debtors and liquidators reach βnovel and mutually-beneficialβ settlement
5. Shifting Interest from the US to HongKong as Leaders Urged To File XRP Spot ETF
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CW50 (last week)
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π Rippleβs XRP Bulls Crazily Expecting $1 Price Before 2024 As Whales Splash Over $220 Million On XRP Buys
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Rippleβs XRP is expected to experience a remarkable boost after witnessing substantial accumulation by whales, amassing an impressive $220 million in the past week. This strategic move by influential investors arrives at a pivotal juncture as XRP has been navigating an extended consolidation phase, lagging behind other digital assets such as Solana (SOL) and Cardano (ADA). Popular market analyst Ali Martinez brought attention to this substantial XRP accumulation by whales via X (formerly Twitter), revealing that these major investors acquired approximately 360 million XRP between December 14 and 22, translating to a considerable value of over $220 million.
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Rippleβs XRP is expected to experience a remarkable boost after witnessing substantial accumulation by whales, amassing an impressive $220 million in the past week. This strategic move by influential investors arrives at a pivotal juncture as XRP has been navigating an extended consolidation phase, lagging behind other digital assets such as Solana (SOL) and Cardano (ADA). Popular market analyst Ali Martinez brought attention to this substantial XRP accumulation by whales via X (formerly Twitter), revealing that these major investors acquired approximately 360 million XRP between December 14 and 22, translating to a considerable value of over $220 million.
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π₯ SEC May Soon Inform BlackRock And Others of their Approved ETF
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According to speculations from experts. The SEC may soon inform asset managers about the approval of spot Bitcoin ETFs. Firms like Ark Investments, 21Shares, Valkyrie, and others who met the end-of-year submission deadline would possibly launch their ETFs by January 10. Several of the 14 asset managers competing for ETF approval have detailed their sponsor fees and technical plans. Fidelity's proposed ETF stands out with the lowest sponsor rate at 0.39%, while others are yet to reveal their rates.
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According to speculations from experts. The SEC may soon inform asset managers about the approval of spot Bitcoin ETFs. Firms like Ark Investments, 21Shares, Valkyrie, and others who met the end-of-year submission deadline would possibly launch their ETFs by January 10. Several of the 14 asset managers competing for ETF approval have detailed their sponsor fees and technical plans. Fidelity's proposed ETF stands out with the lowest sponsor rate at 0.39%, while others are yet to reveal their rates.
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π° This Week In Crypto (CW52)
1. US judge sides with SEC in Terraform Labs case over unregistered securities
2. Republican lawmakers call for the removal of SECβs Gary Gensler over bias and damage to the digital asset industry
3. MicroStrategy Doubles Down on Bitcoin, Acquires 14,620 BTC for $615.7 Million
4. Grayscale refiles Bitcoin ETF application as Barry Silbert departs
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CW51 (last week)
1. US judge sides with SEC in Terraform Labs case over unregistered securities
2. Republican lawmakers call for the removal of SECβs Gary Gensler over bias and damage to the digital asset industry
3. MicroStrategy Doubles Down on Bitcoin, Acquires 14,620 BTC for $615.7 Million
4. Grayscale refiles Bitcoin ETF application as Barry Silbert departs
π Get your daily news summarized with CryptoExplorer AI
CW51 (last week)
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