With regard to custody agreements, the SFC emphasizes that the fund’s trustee or custodian may only delegate cryptocurrency custody functions to SFC-licensed VATTPs or institutions that meet the cryptocurrency custody standards set by the HKMA. Hong Kong announced that it is ready to accept applications from traditional financial firms interested in exploring emerging economies by creating exchange-traded funds (ETFs) tracking spot-based cryptocurrencies. The country already allows futures-based cryptocurrency ETFs and has approved exchange-traded ETFs such as Samsung Bitcoin Futures Active, CSOP Bitcoin Futures, and CSOP Ether Futures. Crypto-friendly countries are now ready to open their borders to welcome spot ETFs…
Author: Crypto Flexs
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OpenAI, the innovative company behind the well-known ChatGPT, is currently in the preliminary stages of a potentially game-changing funding round. The company is currently engaged in talks to seek new funding worth at least $100 billion, according to recent sources. This is a significant increase from the company’s previous valuation of $90 billion when it went public. If this monumental financial move is successful, OpenAI could become the second most valuable startup in the U.S., behind Elon Musk’s SpaceX, which is valued at $180 billion. It will also make OpenAI the third most valuable private company in the world, behind…
The native token of the decentralized exchange (DEX) built on Solana (SOL) soared more than 95% this week as the network’s growth surged. Radium (RAY) is an on-chain automated market maker (AMM). The project’s native token, RAY, is trading at $1.72 as of this writing, up from about $0.88 a week ago. The 144th-largest cryptocurrency asset by market cap is also up nearly 16% in the last 24 hours and more than 1,140% since the start of 2023. RAY’s recent gains have materialized as the Raydium protocol has witnessed an explosive increase in total value locked (TVL). TVL represents the…
As the Spot Bitcoin ETF approval date approaches, asset management firms like BlackRock are preparing to launch a Spot Bitcoin ETF. BlackRock has already launched a seed fund initiative to support the launch of a Spot Bitcoin ETF. BlackRock prepares seed fund for Bitcoin ETF In recent years X In a (previously Twitter) post, Bloomberg analyst James Seyffart announced: black stone Officially, plans were made to invest $10 million in seed funding. Spot Bitcoin ETF. The seed fund aims to drive the development and launch of a spot Bitcoin ETF. update: @black stone I have already submitted an updated/amended S-1.…
Arthur Hayes, co-founder of the BitMEX cryptocurrency exchange, is warning of dire consequences as regulatory approval for a spot Bitcoin exchange-traded fund (ETF) is pending. The concern is that traditional financial asset managers like BlackRock could dominate the spot Bitcoin ETF market, potentially undermining Bitcoin (BTC). In a Dec. 22 blog post, Hayes highlighted the risks of these companies holding “all the Bitcoin in circulation.” If that happens, he says overly successful ETFs managed by traditional asset managers could ultimately lead to the decline of cryptocurrencies. Hayes argues that BlackRock and similar firms “empty assets, store them in metaphorical vaults,…
Ropsten will be the first longstanding testnet to run through The MergeA new Ropsten Beacon Chain was launched on May 30, 2022 to provide consensus to the networkThe Ropsten Beacon Chain will upgrade to merge-compatible protocol rules (Bellatrix) at slot 24000, expected on June 2, 2022After this, a Terminal Total Difficulty (TTD) will be chosen to activate The Merge on the proof-of-work chain. Node Operators will need to manually set this value on their clients.June 3 update: the exact Terminal Total Difficulty for the Ropsten Merge is 50000000000000000. A subsequent announcement explains how node operators and stakers can ensure their…
In today’s ever-changing blockchain world, Ethereum remains the king of smart contracts and powers many decentralized applications and digital assets. However, the blockchain landscape has changed dramatically in recent years, and Cardano now looks like a real contender. Conflicting signals: Cardano’s incredible rise in popularity and market capitalization only highlights its growing influence. Cardano, a third-generation blockchain, has established itself as scalable, sustainable, and interoperable. This could fill the void left by Ethereum and rewrite the blockchain battle lines. What’s driving Cardano’s surge Cardano has been gaining popularity recently due to its outstanding features and performance. Ouroboros’ proof-of-stake consensus mechanism…
U.S. Securities and Exchange Commission (SEC) Commissioner Hester Peirce applauded her colleagues for imposing a $1.7 million fine on DeFi protocol BarnBridge DAO. I voted against the measure, although I have not written a dissenting opinion (yet?). This is another example of the SEC’s inaccurate legal reasoning in cryptocurrency cases, which will only add to the uncertainty for cryptocurrency projects in the United States.— Hester Peirce (@HesterPeirce) December 23, 2023 BarnBridge DAO has agreed to settle charges that it, along with its two founders, Tyler Ward and Troy Murray, sold structured crypto-asset securities known as SMART Yield bonds. “The company…
Solana’s TVL is at its highest level since October 2022. The chain’s DEX trading volume recently hit a yearly high. Solana’s (SOL) decentralized finance (DeFi) ecosystem has seen a surge in activity over the past two months, with total value locked (TVL) hitting its highest since the beginning of the year, Reuters reported. DeFiLlama. Source: DefiLlama At press time, Solana’s TVL was $1.3 billion. The last time the network’s TVL was this high was in October 2022. For context, the network’s TVL as of January 1st was just $210 million, showing that Solana’s TVL has seen 519% year-to-date (YTD) growth.…
Former CEO and co-founder of cryptocurrency exchange BitMEX Arthur Hayesshared his thoughts on what could lead to Bitcoin’s downfall. His latest comment Echo the reservation details What information cryptocurrency founders have about a potential launch Bitcoin ETF Spot. TradFi Could Lead to Bitcoin’s Downfall His past articles During the year, Hayes said TradFi asset managers would “completely destroy Bitcoin” if: ETFs they manage It was a huge success. He made this claim, citing Bitcoin’s uniqueness. Hayes noted that the best crypto tokens are different from “every other means of currency humanity has ever used.” Due to Bitcoin’s uniqueness, Hayes believes…