Everything web3, crypto, defi, degen
In brief The SEC will decide on the Truth Social Bitcoin and Ethereum ETF on October 8, likely after a rules change request from two exchanges that could shorten approval processes. The agency delayed decisions on XRP funds from Grayscale, Bitwise, CoinShares, Canary Capital, and 21Shares. It also pushed back deadlines on separate Dogecoin and…
For many years, the idea that publicly traded corporations might buy Bitcoin for their reserves was considered laughable. The top cryptocurrency was considered too volatile, too fringe to be embraced by any serious business.That taboo has been well and truly broken, with a number of major institutional investors buying up Bitcoin in recent years.The floodgates…
In brief SharpLink Gaming stock fell nearly 15% on Friday after the company posted poor Q2 earnings results. The Ethereum treasury firm reported a net loss of $103 million for the second financial quarter. ETH dipped below $4,400 on Friday amid geopolitical uncertainties and hotter-than-expected U.S. economic data. SharpLink Gaming’s shares plummeted Friday as the…
In brief The Federal Reserve has ended a supervisory program that monitored banks involved in crypto. U.S. banks will no longer face increased scrutiny for offering things like crypto custody or stablecoin services. The Fed’s move comes as the regulatory landscape in the U.S. changes under Trump. The Federal Reserve has ended a supervisory program…
After saying earlier Thursday that the United States would not purchase Bitcoin for its planned strategic reserve, Treasury Secretary Scott Bessent apparently had a change of heart, again leaving the door open for potential purchases.”Bitcoin that has been finally forfeited to the federal government will be the foundation of the Strategic Bitcoin Reserve that President…
In brief OFAC sanctioned Garantex on Thursday for its role in processing more than $100 million linked to illicit activities. It also blacklisted six businesses and three executives tied to the exchange. Blacklisting platforms that offer services aimed at circumventing sanctions is crucial to OFAC’s mission, an analyst said. The U.S. Department of Treasury’s Office of…
In brief Jack Dorsey’s Block has released a new Bitcoin mining rig, aiming to disrupt the market. The machine is supposed to cut costs for miners because it has swappable parts. Dorsey is an outspoken Bitcoin advocate who has pursued numerous BTC initiatives. Jack Dorsey’s fintech Block has released its latest Bitcoin product: a long-lasting…
In brief Bitcoin’s price fell Thursday following a hotter-than-expected PPI report. Producer prices rose 0.9% in July, the largest monthly increase in over three years. Traders abandoned the prospect of a 50-basis-point rate cut. Bitcoin and other cryptocurrencies slipped on Thursday after rising producer prices blunted rate-cut hopes, and U.S. Treasury Secretary Scott Bessent said…
In brief Experts generally agree that favorable regulatory shifts in the United States and massive buy-ups of Ethereum on Wall Street have enabled ETH’s current, ongoing streak. Some analysts contend these factors are so bullish for Ethereum, that the token will continue to surge through the end of the year, potentially beyond $7,000. Others caution,…
In brief U.S. Treasury Secretary Scott Bessent said Thursday that the U.S. government will not be buying additional Bitcoin to supplement reserves of the token acquired via law enforcement seizures. For months, White House officials had stoked the hopes of Bitcoiners by saying they wanted to acquire as much of the cryptocurrency “as possible.” But…
