21Shares has filed an updated application for its Ethereum spot ETF S-1, rebranding the fund from Ark 21Shares Ethereum ETF to 21Shares Core Ethereum ETF. Additionally, ARK Invest has ended its partnership with 21Shares and will no longer be involved with the ETF. According to the newly amended Form S-1, there are no updated fees. Despite acknowledging Ethereumโs groundbreaking potential and long-term value.
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Bitcoin miner Bitfarms released its latest monthly production data, which highlights the Bitcoin halving effect on the companyโs bottom line and raises concerns about industry consolidation. In its monthly update, Bitfarms said it earned 156 BTC in May, a 42% drop from the previous month and down 66% year over year. Of that earned, it sold 136 BTC for total proceeds of $8.9 million (down from $16.1 million in April) as part of the companyโs regular treasury management process.
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Forwarded from Crypto World ICOs
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๐ Invest in something big. FlokiCat to the moon! ๐
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- Michael Saylor
@TradeCryptoNow
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๐บ๐ธ SEC Chair Gary Gensler says disclosures not enough to protect crypto exchanges
U.S. Securities and Exchange Commission Chairman Gary Gensler said Wednesday that federal securities agents may continue bringing enforcement actions against crypto exchanges, even if the platforms disclose their productsโ risks to retail investors. The companies are also not protected from lawsuits if they publicize โmisleadingโ information that leads traders to pour money into products they otherwise wouldnโt invest in, he said.
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@TradeCryptoNow
U.S. Securities and Exchange Commission Chairman Gary Gensler said Wednesday that federal securities agents may continue bringing enforcement actions against crypto exchanges, even if the platforms disclose their productsโ risks to retail investors. The companies are also not protected from lawsuits if they publicize โmisleadingโ information that leads traders to pour money into products they otherwise wouldnโt invest in, he said.
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@TradeCryptoNow
Robinhood is set to acquire Bitstamp in a potential $200 million deal designed to better position the crypto and stock trading platform for expansion outside of the U.S. The cash deal is expected to close in the first half of 2025, according to a statement on Thursday, subject to customary closing conditions โ including regulatory approvals โ Robinhood said. Barclays Capital Inc. served as the exclusive financial advisor to Robinhood, and Galaxy Digital Partners LLC served as the exclusive financial advisor to Bitstamp, according to the statement.
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Cryptocurrency exchange Binance posted on social media platform X Thursday that users can purchase cryptocurrency using Mastercard, Visa, or SEPA for bank transfers. The announcement led to confusion among some users regarding the reintroduction of Binance-branded credit cards. Binance Customer Support clarified that the current facilities allow the use of existing payment methods to buy crypto and do not indicate the issuance of a new Binance credit card.
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Arbitrum Foundation, the organization that supports the Ethereum rollup-based Layer 2 network Arbitrum, will get its wish to distribute hundreds of millions of dollars to support gaming projects on the network over the next three years. Organizations that significantly supported the proposal include L2Beat, Wintermute, and gaming-focused Treasure DAO, while Blockworks Research and Camelot DAO numbered among those who voted against.
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Analysts at crypto exchange Bitfinex have predicted that the current bitcoin bull market cycle may peak in the fourth quarter of 2024. "Historical data suggest that bitcoin typically reaches its new all-time high (ATH) several months after the halving event. Therefore, we predict the market top could occur around Q4 2024," Bitfinex analysts claimed in a note sent to The Block.
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The Realized Price metric offers a comprehensive overview of the average on-chain acquisition price for the entire Bitcoin circulating supply. By analyzing Short-Term and Long-Term Holder heuristics, we can determine the realized price for different investor cohorts. These coins are the most likely to be spent soon. Conversely, Long-Term Holders (LTH) represent coins not moved within the last 155 days, indicating the least probable coins to be spent.
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Mainstream adoption of digital assets has been steadily increasing, driven by significant regulatory advancements and rising institutional interest, according to Canaccord Genuity research. According to Canaccordโs research report, the mainstream adoption of digital assets is anticipated to continue driving growth in the sector, with Galaxy Digital well-positioned to capitalize on these evolving trends.
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A Polygon community treasury has announced a long-term plan to spur development on the blockchain that involves unlocking 1 billion tokens over a decade. "After community consensus, the Community Treasury has been created, with 1 billion POL unlocked over 10 years, with [approximately] 100 million POL per year, all for builders," the treasury said in an announcement. POL is set to become Polygon's native token, replacing MATIC eventually.
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๐ฎ๐ช Crypto Exchange Crypto.com Secures Spot on Ireland's Virtual Assets Service Provider Register
Crypto.com received approval to register as a virtual asset service provider in Ireland, allowing the crypto exchange to operate in the European Union nation. The company was listed on the register as of June 7 under the name Foris DAX, the Central Bank of Ireland's website shows. Crypto.com will now be able to offer crypto-to-fiat exchanges and fiat wallets, the company said in a statement.
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@TradeCryptoNow
Crypto.com received approval to register as a virtual asset service provider in Ireland, allowing the crypto exchange to operate in the European Union nation. The company was listed on the register as of June 7 under the name Foris DAX, the Central Bank of Ireland's website shows. Crypto.com will now be able to offer crypto-to-fiat exchanges and fiat wallets, the company said in a statement.
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@TradeCryptoNow
Glassnode analysts said on Wednesday that a major factor affecting demand-side pressure for U.S. spot exchange-traded funds is institutional traders adopting a cash-and-carry arbitrage strategy. According to analysts, since traders are buying bitcoin spot and immediately hedging it by selling bitcoin futures, this could reduce the immediate upward pressure on the spot price that would otherwise be seen if they were only buying the spot asset.
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The Industrial and Commercial Bank of China (ICBC), the worldโs largest bank by total assets, recently compared bitcoin to digital gold and labeled Ethereum โdigital oilโ in a report. The bank emphasized the roles of these cryptocurrencies in the digital economy and their contributions to technological advancements.
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๐บ๐ธ Crypto exchange Gemini to pay $50 million in settlement with NY attorney general's office
Crypto exchange Gemini agreed to pay $50 million worth of digital assets to Gemini Earn investors as part of a settlement announced by the New York Attorney General on Friday. The settlement comes after NYAG Letitia James said Gemini "misled thousands of investors," including New Yorkers, on risks tied to the Gemini Earn program. Gemini Earn allowed Gemini customers to loan their crypto to now-bankrupt Genesis Global Capital, LLC, and earn up to 7.4 percent APY.
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Crypto exchange Gemini agreed to pay $50 million worth of digital assets to Gemini Earn investors as part of a settlement announced by the New York Attorney General on Friday. The settlement comes after NYAG Letitia James said Gemini "misled thousands of investors," including New Yorkers, on risks tied to the Gemini Earn program. Gemini Earn allowed Gemini customers to loan their crypto to now-bankrupt Genesis Global Capital, LLC, and earn up to 7.4 percent APY.
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NiceHash, a leading Bitcoin hashing power marketplace, has partnered with Marathon Digital Holdings to introduce new custom firmware for ASIC miners on its platform. The new product, NiceHash Firmware, will leverage Marathonโs technology to enhance the efficiency and revenue of Bitcoin miners using ASIC devices. Miners who adopt this firmware will benefit from a low fee of 2%, which drops to 1.4% if they use NiceHash as their primary mining pool.
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