🥱 BlackRock Has No Plans to Launch A XRP Spot ETF
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A rumor about BlackRock launching an XRP ETF was recently circulating due to a comment from Larry Fink, BlackRock’s CEO. But it has recently been confirmed that the world's largest asset manager is not planning to introduce a spot XRP ETF (exchange-traded fund). The company has already launched a spot Bitcoin ETF and filed for a spot Ether ETF. Named iShares Bitcoin Trust and iShares Ethereum Trust, these funds aim to reflect the prices of Bitcoin and Ether. BlackRock's ETFs, named iShares, are held by Coinbase, a major cryptocurrency exchange.
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A rumor about BlackRock launching an XRP ETF was recently circulating due to a comment from Larry Fink, BlackRock’s CEO. But it has recently been confirmed that the world's largest asset manager is not planning to introduce a spot XRP ETF (exchange-traded fund). The company has already launched a spot Bitcoin ETF and filed for a spot Ether ETF. Named iShares Bitcoin Trust and iShares Ethereum Trust, these funds aim to reflect the prices of Bitcoin and Ether. BlackRock's ETFs, named iShares, are held by Coinbase, a major cryptocurrency exchange.
🇺🇸 US Senator Issues BRICS Warning, Says Economic Alliance May Damage America’s Ability to Weaponize Dollar
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Florida Senator Marco Rubio just issued a warning about the growing global economic alliance known as BRICS. In a new article on RealClearWorld, the Republican senator says the recent expansion of BRICS poses a threat to the SWIFT payment system and America’s ability to weaponize the dollar to sanction people and nations. “As of New Year’s Day, Saudi Arabia, the United Arab Emirates, Ethiopia, Egypt, and Iran – the greatest danger to U.S. personnel in the Middle East and the greatest sponsor of international terrorism – have swelled BRICS’s ranks.
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Florida Senator Marco Rubio just issued a warning about the growing global economic alliance known as BRICS. In a new article on RealClearWorld, the Republican senator says the recent expansion of BRICS poses a threat to the SWIFT payment system and America’s ability to weaponize the dollar to sanction people and nations. “As of New Year’s Day, Saudi Arabia, the United Arab Emirates, Ethiopia, Egypt, and Iran – the greatest danger to U.S. personnel in the Middle East and the greatest sponsor of international terrorism – have swelled BRICS’s ranks.
📰 This Week In Crypto (CW3)
1. Firms pitch inverse cryptocurrency funds after SEC’s bitcoin ETF approval
2. SEC v Coinbase Case Took Center Stage on Wednedsay
3. Reddit Plans to Go Public in March After a Much-Delayed IPO
4. Cryptocurrency Rights Bill Introduced in Virginia
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CW2 (last week)
1. Firms pitch inverse cryptocurrency funds after SEC’s bitcoin ETF approval
2. SEC v Coinbase Case Took Center Stage on Wednedsay
3. Reddit Plans to Go Public in March After a Much-Delayed IPO
4. Cryptocurrency Rights Bill Introduced in Virginia
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CW2 (last week)
💸 Cryptocurrency firm Terraform Labs files for bankruptcy in US
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The cryptocurrency company behind the crashed TerraUSD and Luna tokens has filed for bankruptcy in the US. Terraform Labs' tokens collapsed in May, losing $40bn of their value and contributing to the so-called "cryptocrash" of 2022. Co-founder Do Kwon is currently in jail in Montenegro after having been found guilty of forging documents. He has been charged with defrauding investors by US regulators and is awaiting extradition. He also faces fraud charges in South Korea, his native country, so could be extradited there.
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The cryptocurrency company behind the crashed TerraUSD and Luna tokens has filed for bankruptcy in the US. Terraform Labs' tokens collapsed in May, losing $40bn of their value and contributing to the so-called "cryptocrash" of 2022. Co-founder Do Kwon is currently in jail in Montenegro after having been found guilty of forging documents. He has been charged with defrauding investors by US regulators and is awaiting extradition. He also faces fraud charges in South Korea, his native country, so could be extradited there.
🔥 Rollups Are Coming to Bitcoin Through ‘Superlayer’ Protocol BitcoinOS
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Blockchain developers unveiled a new platform on Thursday meant to catapult Bitcoin into the modern era of decentralized finance (DeFi)—an industry that the original crypto network has largely kept at arms-length. The new platform, named BitcoinOS, is pitched as a “public good” that uses “sovryn rollups” to create a foundational layer for decentralized apps (dapps) on Bitcoin. Any developer can contribute to it, its founders say, and build new tools in whatever programming language they want.
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Blockchain developers unveiled a new platform on Thursday meant to catapult Bitcoin into the modern era of decentralized finance (DeFi)—an industry that the original crypto network has largely kept at arms-length. The new platform, named BitcoinOS, is pitched as a “public good” that uses “sovryn rollups” to create a foundational layer for decentralized apps (dapps) on Bitcoin. Any developer can contribute to it, its founders say, and build new tools in whatever programming language they want.
🥷 CBDCs Will Enable the Government To Seize Your Money, Says Ex-US Presidential Candidate Vivek Ramaswamy
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Former Republican presidential candidate Vivek Ramaswamy says greenlighting a central bank digital currency (CBDC) in the US will have repercussions on the citizens’ financial freedom. In a new interview with Bloomberg Television, Ramaswamy says the government may use the digital dollar to go after those who oppose them. “A central bank digital currency, I believe, is a threat to liberty in this country because it creates a mechanism for the government to be able to wipe out your bank account or wipe out your dollars if you say or do something that the government disapproves of as you see in places like China, as you see even happened to the Canadian truckers, the Freedom Convoy, losing access to their financial bank accounts.
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Former Republican presidential candidate Vivek Ramaswamy says greenlighting a central bank digital currency (CBDC) in the US will have repercussions on the citizens’ financial freedom. In a new interview with Bloomberg Television, Ramaswamy says the government may use the digital dollar to go after those who oppose them. “A central bank digital currency, I believe, is a threat to liberty in this country because it creates a mechanism for the government to be able to wipe out your bank account or wipe out your dollars if you say or do something that the government disapproves of as you see in places like China, as you see even happened to the Canadian truckers, the Freedom Convoy, losing access to their financial bank accounts.
📉 FTX Becomes Major Bitcoin Shorter Amid Efforts to Recover Customer Funds
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FTX struggles to repay debts, raises $4.4 billion by selling assets and trading Bitcoin derivatives, but full customer repayment remains uncertain. The collapsed crypto exchange FTX is making efforts to repay customers after its major downfall. To accumulate money for this, FTX is selling its crypto assets. In 2022, FTX's fall led to a severe drop in the crypto market and billions in debts to its customers. Ever since then, FTX has been seeking ways to pay them back. In August 2023, they proposed a plan to settle debts in cash and restart the platform for international users as FTX(.)com.
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FTX struggles to repay debts, raises $4.4 billion by selling assets and trading Bitcoin derivatives, but full customer repayment remains uncertain. The collapsed crypto exchange FTX is making efforts to repay customers after its major downfall. To accumulate money for this, FTX is selling its crypto assets. In 2022, FTX's fall led to a severe drop in the crypto market and billions in debts to its customers. Ever since then, FTX has been seeking ways to pay them back. In August 2023, they proposed a plan to settle debts in cash and restart the platform for international users as FTX(.)com.
📰 This Week In Crypto (CW4)
1. Company behind Terra crypto collapse files for US bankruptcy protection
2. CZ tried to pledge his entire Binance stake to leave US in January
3. US targets Iraqi airline Fly Baghdad, its CEO and Hamas cryptocurrency financiers for sanctions
4. SEC pushes decision on BlackRock’s spot Ethereum ETF to March
5. Pastor of online church faces fraud charges for selling $3.2 million in "worthless" cryptocurrency
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CW3 (last week)
1. Company behind Terra crypto collapse files for US bankruptcy protection
2. CZ tried to pledge his entire Binance stake to leave US in January
3. US targets Iraqi airline Fly Baghdad, its CEO and Hamas cryptocurrency financiers for sanctions
4. SEC pushes decision on BlackRock’s spot Ethereum ETF to March
5. Pastor of online church faces fraud charges for selling $3.2 million in "worthless" cryptocurrency
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CW3 (last week)
🔥 Ethereum (ETH) Network Explodes With 484,000 Interacting Addresses
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Ethereum (ETH), the second-largest cryptocurrency by market value, is seeing a significant rise in network activity. According to data from Santiment, a blockchain analytics platform, Ethereum's network is now seeing 484,000 unique addresses interacting on the network per day. This metric depicts the number of unique users on the Ethereum network, reflecting growing demand and utility. A higher number of interacting addresses suggests that more users are sending and receiving transactions, deploying and interacting with smart contracts, participating in decentralized applications (dApps) and engaging in other Ethereum-related activities.
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Ethereum (ETH), the second-largest cryptocurrency by market value, is seeing a significant rise in network activity. According to data from Santiment, a blockchain analytics platform, Ethereum's network is now seeing 484,000 unique addresses interacting on the network per day. This metric depicts the number of unique users on the Ethereum network, reflecting growing demand and utility. A higher number of interacting addresses suggests that more users are sending and receiving transactions, deploying and interacting with smart contracts, participating in decentralized applications (dApps) and engaging in other Ethereum-related activities.
🚀 Binance is breaking records
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Binance, the world's leading cryptocurrency exchange, defied regulatory pressures and leadership changes to set a new trading volume record of $427 billion in December 2023, solidifying its market dominance. A CoinGecko report shows Binance, the leading crypto exchange, stayed on top in 2023 despite tough regulations and a change in its boss. The exchange had a 43.7% market share, with trading volume rising to $427.1 billion in December 2023, a 37.5% increase from the previous month. Binance's 2023 Trading Hits $3.8 Trillion Starting the year with a 63.5% market share, Binance ended at 43.7%. Yet, it was the biggest with 52.6% of all 2023 trading volume, totaling $3.8 trillion.
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Binance, the world's leading cryptocurrency exchange, defied regulatory pressures and leadership changes to set a new trading volume record of $427 billion in December 2023, solidifying its market dominance. A CoinGecko report shows Binance, the leading crypto exchange, stayed on top in 2023 despite tough regulations and a change in its boss. The exchange had a 43.7% market share, with trading volume rising to $427.1 billion in December 2023, a 37.5% increase from the previous month. Binance's 2023 Trading Hits $3.8 Trillion Starting the year with a 63.5% market share, Binance ended at 43.7%. Yet, it was the biggest with 52.6% of all 2023 trading volume, totaling $3.8 trillion.
☠️ He’s Lost His Marriage, His Followers and His Lamborghini
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Ben Armstrong, better known as BitBoy, was once the most popular cryptocurrency YouTuber in the world. Now his empire has collapsed. Back then, BitBoy was one of the most popular figures in the wild, scam-ridden world of crypto influencers. Cultivating a persona as a straight-talking everyman, he filmed a livestream five days a week in which he lectured his hundreds of thousands of listeners on the virtues of experimental coins with names like Polkadot or XRP. He said that regulators were fools, and that digital money offered a path to upward mobility. The Lamborghini was vivid proof: Crypto would make you rich and cool and successful.
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Ben Armstrong, better known as BitBoy, was once the most popular cryptocurrency YouTuber in the world. Now his empire has collapsed. Back then, BitBoy was one of the most popular figures in the wild, scam-ridden world of crypto influencers. Cultivating a persona as a straight-talking everyman, he filmed a livestream five days a week in which he lectured his hundreds of thousands of listeners on the virtues of experimental coins with names like Polkadot or XRP. He said that regulators were fools, and that digital money offered a path to upward mobility. The Lamborghini was vivid proof: Crypto would make you rich and cool and successful.
📰 This Week In Crypto (CW5)
1. Spot Bitcoin ETFs add 151K BTC amidst GBTC dump in January
2. $112 million stolen from founder of Ripple cryptocurrency platform
3. Cryptocurrency scams metastasize into new forms
4. Germany Banking Giant DZ to Pilot Crypto Trading This Year
5. Celsius exits bankruptcy, commences return of over $3B to creditors
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CW4 (last week)
1. Spot Bitcoin ETFs add 151K BTC amidst GBTC dump in January
2. $112 million stolen from founder of Ripple cryptocurrency platform
3. Cryptocurrency scams metastasize into new forms
4. Germany Banking Giant DZ to Pilot Crypto Trading This Year
5. Celsius exits bankruptcy, commences return of over $3B to creditors
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CW4 (last week)
🇺🇸 Ripple's XRP Services to Go Live in US
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Ripple, a prominent player in real-time gross settlement systems, has disclosed plans to extend its Ripple Payments services within the United States, as announced by Senior Director W. Oliver Segovia. Despite a relatively subdued presence in the U.S. over the past three years, Ripple aims to introduce new product updates driven by its money transmitter licenses (MTLs), encompassing a substantial portion of states. With 90% of its business conducted outside the United States, Ripple seeks to leverage its global standing by enhancing services in the U.S. market. The forthcoming product updates are anticipated to capitalize on Ripple's proficiency in blockchain technology and payments, offering streamlined cross-border transaction solutions within the U.S.
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Ripple, a prominent player in real-time gross settlement systems, has disclosed plans to extend its Ripple Payments services within the United States, as announced by Senior Director W. Oliver Segovia. Despite a relatively subdued presence in the U.S. over the past three years, Ripple aims to introduce new product updates driven by its money transmitter licenses (MTLs), encompassing a substantial portion of states. With 90% of its business conducted outside the United States, Ripple seeks to leverage its global standing by enhancing services in the U.S. market. The forthcoming product updates are anticipated to capitalize on Ripple's proficiency in blockchain technology and payments, offering streamlined cross-border transaction solutions within the U.S.
🔙 First US bank to let customers keep cryptocurrency in checking account exits crypto
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Bank, an entity claiming to be the first United States banking institution to allow its customers to buy, sell and hold cryptocurrencies “alongside a traditional checking account,” has shuttered its mobile crypto banking app and declared its intent to exit the cryptocurrency industry. In an FAQ posted on the bank’s website, first spotted by American Banker, Vast Bank said it would be refunding any holders’ remaining crypto through liquidation: “To strategically align our operations, effective Wednesday January 31st, 2024, we will be disabling and removing the Vast Crypto Mobile Banking application from Google and Apple, which means your Vast Crypto Mobile Banking account(s), including any Digital Assets held in custody, will be liquidated and closed.”
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Bank, an entity claiming to be the first United States banking institution to allow its customers to buy, sell and hold cryptocurrencies “alongside a traditional checking account,” has shuttered its mobile crypto banking app and declared its intent to exit the cryptocurrency industry. In an FAQ posted on the bank’s website, first spotted by American Banker, Vast Bank said it would be refunding any holders’ remaining crypto through liquidation: “To strategically align our operations, effective Wednesday January 31st, 2024, we will be disabling and removing the Vast Crypto Mobile Banking application from Google and Apple, which means your Vast Crypto Mobile Banking account(s), including any Digital Assets held in custody, will be liquidated and closed.”
🚀 BlackRock Considers Increasing Bitcoin Holdings, Foreseeing Massive BTC Price Upside
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BlackRock, the world’s largest asset manager, is mulling over expanding its Bitcoin investment portfolios, foreseeing a substantial uptake potential for the cryptocurrency. Speaking recently to The Wall Street Journal, Rick Rieder, BlackRock’s Chief Investment Officer of global fixed income, acknowledged the firm’s modest exposure to Bitcoin. He further noted that as investor confidence in Bitcoin grows, BlackRock may consider allocating Bitcoin a more prominent role within its investment portfolios. “Time will tell whether it’s going to be a big part of the asset allocation framework,” Rieder said, adding, “I think over time, people become more and more comfortable with it.”
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BlackRock, the world’s largest asset manager, is mulling over expanding its Bitcoin investment portfolios, foreseeing a substantial uptake potential for the cryptocurrency. Speaking recently to The Wall Street Journal, Rick Rieder, BlackRock’s Chief Investment Officer of global fixed income, acknowledged the firm’s modest exposure to Bitcoin. He further noted that as investor confidence in Bitcoin grows, BlackRock may consider allocating Bitcoin a more prominent role within its investment portfolios. “Time will tell whether it’s going to be a big part of the asset allocation framework,” Rieder said, adding, “I think over time, people become more and more comfortable with it.”
📰 This Week In Crypto (CW6)
1. ‘Big volume day’ for BlackRock as Bitcoin ETFs notch $1B volume
2. Deepfakes accelerate cryptocurrency scams: ‘It is very easy to fall for them, they are becoming more and more sophisticated’
3. XRP Holders Demand Answers for Depressing Price Performance
4. Monero hits 5-month low as Binance plans delisting
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CW5 (last week)
1. ‘Big volume day’ for BlackRock as Bitcoin ETFs notch $1B volume
2. Deepfakes accelerate cryptocurrency scams: ‘It is very easy to fall for them, they are becoming more and more sophisticated’
3. XRP Holders Demand Answers for Depressing Price Performance
4. Monero hits 5-month low as Binance plans delisting
🚀 Get your daily news summarized with CryptoExplorer AI
CW5 (last week)
👩🚀 Bitcoin ETFs hit $10B milestone just one month after approval
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The recently launched spot Bitcoin exchange-traded funds (ETFs) completed their first 20 trading sessions, hitting the $10 billion milestone in assets under management (AUM). According to data from BitMEX Research, net flows for the nine ETFs reached $2.7 billion on Jan. 9, led by BlackRock’s iShares Bitcoin Trust, which currently holds Bitcoin worth $4 billion. The second position is claimed by Fidelity’s Wise Origin Bitcoin Fund, with over $3.4 billion in BTC under management. The ARK 21Shares Bitcoin ETF also reached the billion-dollar milestone, holding about $1 billion worth in its portfolio. Meanwhile, Grayscale Bitcoin Trust (GBTC) outflows amounted to $6.3 billion over the past 30 days. The fund recorded $51.8 million in outflows on Feb. 9, its smallest daily volume of capital withdrawals since conversion.
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The recently launched spot Bitcoin exchange-traded funds (ETFs) completed their first 20 trading sessions, hitting the $10 billion milestone in assets under management (AUM). According to data from BitMEX Research, net flows for the nine ETFs reached $2.7 billion on Jan. 9, led by BlackRock’s iShares Bitcoin Trust, which currently holds Bitcoin worth $4 billion. The second position is claimed by Fidelity’s Wise Origin Bitcoin Fund, with over $3.4 billion in BTC under management. The ARK 21Shares Bitcoin ETF also reached the billion-dollar milestone, holding about $1 billion worth in its portfolio. Meanwhile, Grayscale Bitcoin Trust (GBTC) outflows amounted to $6.3 billion over the past 30 days. The fund recorded $51.8 million in outflows on Feb. 9, its smallest daily volume of capital withdrawals since conversion.
😮 Ark Invest CEO Cathie Wood Says 'We'd Be Surprised' If SEC Approves 'Anything But Bitcoin And Ether' As Crypto ETFs
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ARK Investment Management’s founder-CEO Cathie Wood on Tuesday shared her insights on the future of cryptocurrency ETFs. What Happened: During an interview with The Wall Street Journal's “Take On the Week” podcast, Wood predicted that the Securities and Exchange Commission (SEC) would likely approve spot exchange-traded funds holding only Bitcoin and Ethereum. “We’d be surprised to see anything but bitcoin and ether being approved by the SEC,” Wood stated.
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ARK Investment Management’s founder-CEO Cathie Wood on Tuesday shared her insights on the future of cryptocurrency ETFs. What Happened: During an interview with The Wall Street Journal's “Take On the Week” podcast, Wood predicted that the Securities and Exchange Commission (SEC) would likely approve spot exchange-traded funds holding only Bitcoin and Ethereum. “We’d be surprised to see anything but bitcoin and ether being approved by the SEC,” Wood stated.
⚖️ Gensler won’t commit to Ethereum ETFs, says Bitcoin approval was simply ‘most sustainable thing to do’ after losing in court
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In a pair of interviews on Wednesday, Securities and Exchange Commission Chair Gary Gensler still didn’t seem very excited to be discussing the Bitcoin ETFs approved by his agency on Jan. 10. And he doubled down on previous remarks that approving the investment vehicles didn’t equate to the agency changing its mind about Bitcoin’s potential risks, merely that it was a reaction to the August decision in Grayscale v. SEC where the agency, according to Judge Neomi Rao, “failed to reasonably explain” why it had previously approved Bitcoin futures products but not spot ETFs.
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In a pair of interviews on Wednesday, Securities and Exchange Commission Chair Gary Gensler still didn’t seem very excited to be discussing the Bitcoin ETFs approved by his agency on Jan. 10. And he doubled down on previous remarks that approving the investment vehicles didn’t equate to the agency changing its mind about Bitcoin’s potential risks, merely that it was a reaction to the August decision in Grayscale v. SEC where the agency, according to Judge Neomi Rao, “failed to reasonably explain” why it had previously approved Bitcoin futures products but not spot ETFs.
🏦 Ripple’s XRP Could Be The Key To Gold-Backed Stablecoins Amid Potential Adoption By Global Banks
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Versan Aljarrah, the founder of Black Swan Capitalist and a well-known YouTuber, recently spoke highly of XRP. In a recent post on X, Aljarrah noted that XRP could play an important role amid growing calls for gold-backed cryptocurrencies, which are price-pegged to the precious metal. There has been speculation that XRP could be backed by gold amid talks that XRP could be accepted by global banks and other financial institutions for international settlements and would be backed by gold for its fair value.
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Versan Aljarrah, the founder of Black Swan Capitalist and a well-known YouTuber, recently spoke highly of XRP. In a recent post on X, Aljarrah noted that XRP could play an important role amid growing calls for gold-backed cryptocurrencies, which are price-pegged to the precious metal. There has been speculation that XRP could be backed by gold amid talks that XRP could be accepted by global banks and other financial institutions for international settlements and would be backed by gold for its fair value.
