Traders have been buying shares of Grayscale since the beginning of the year. bitcoin BTC + The trust, which has been trading at a discount to the underlying value of the Bitcoin it holds, will likely hope to pocket the difference once it is converted to a spot Bitcoin ETF.This means that a significant portion of GBTC traders will be looking to cash out upon conversion to the ETF. With this in mind, analysts at JPMorgan looked at GBTC inflows beyond 2023 to calculate the value of shares that could be sold upon conversion. They estimate this figure to be…
Author: Crypto Flexs
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On November 20, 2023, an important meeting was held between the U.S. Securities and Exchange Commission (SEC) and representatives of BlackRock, Inc. and Nasdaq Stock Market LLC. The main focus of the meeting was discussion of the iShares Bitcoin Trust and its potential listing on Nasdaq as a spot Bitcoin exchange-traded fund (ETF). The SEC’s Trading and Markets Division hosted the meeting, which was attended by key figures including David Shillman, Tom McGowan, Randall Roy, Ray Lombardo, Molly Kim, Edward Cho, Sarah Schandler, and Stacia Sowerby. Representing BlackRock were Rachel Aguirre, Adithya Attawar, Shannon Ghia, Robert Mitchnick, Charles Park, Marisa…
Our weekly news roundup from East Asia selects the most important developments in the industry. HTX exchange hacked… also… In the fourth hack to affect the HTX (formerly Huobi Global) ecosystem in just two months, the exchange suffered a loss of $13.6 million due to a hot wallet hack that occurred on November 22. In an announcement made on November 23, the exchange promised to “compensate in full for losses caused by this attack, guarantee 100% safety of user funds,” and restore services within 24 hours after the attack. The previous day, the HTX Eco Chain (HECO) bridge was used…
bitcoin BTC + Next year, the price could exceed $40,000. Binance’s DOJ settlement and former CEO Changpeng Zhao’s guilty plea to financial violations marked a turning point in the cryptocurrency landscape, according to Matrixport analyst Markus Thielen.Binance’s agreement to pay a $4.3 billion fine is one of the largest corporate settlements in U.S. history. Zhao will pay a $50 million fine and a $175 million personal recognizance bond after stepping down as CEO. He also faces the possibility of being sentenced to 18 months in prison ahead of a hearing on February 23.The analyst argued that Binance is likely to…
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Sam Altman, who served as CEO of OpenAI, an artificial intelligence research institute famous for AI technology achievements such as the invention of ChatGPT, was reappointed. This is a surprising result. Considering the fact that Altman was forced out of his position just days before this decision was announced on November 22nd, this demonstrates the dynamic nature of leadership within the rapidly evolving business of artificial intelligence. Unprecedented decision reversal Altman’s departure from OpenAI, which occurred just a few days ago, was received with great surprise and speculation by the general public. The sudden move has left many wondering what…