Disclaimer: Market capitalizations can vary in real-time. The information provided here is intended purely for educational purposes and should not, under any circumstances, be construed as financial advice.
A decision from the United States Fed to pause and possibly lower interest rates next year will likely serve as a “positive boost” for cryptocurrencies and crypto stocks.
In a Dec. 13 interview with Bloomberg, Blackrock fund manager Jeffrey Rosenberg described the Fed’s rate pause — and its hint at rate cuts next year — as a “green light” for investors, with the S&P 500 rallying 1.37% on the decision.
“This bullish sentiment can go on for a while, at least until we get a new round of economic data, and until then the message is clear: the fed is more than willing to see an easing in financial conditions.”
Crypto stocks have witnessed significant gains on the back of the…
Read more on Cointelegraph
As spot Bitcoin exchange-traded fund (ETF) issuers iron out details of their filings with the U.S. securities regulator, it appears that the SEC is steadfast in demanding a “cash” redemption model rather than alternative model proposed by other issuers, such as BlackRock.
On Dec. 14 finance lawyer Scott Johnsson said that ETF applicant Invesco has become the latest to bend the knee to using a cash creation and redemption model for its ETF.
I think everyone is gonna have to bend the knee to cash creates and redeems. https://t.co/1z9HknHyAG
— James Seyffart (@JSeyff) December 13, 2023
“The trust expects that creation and redemption transactions will take place initially in…
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Bitcoin (BTC) and crypto may soon see another mass wave of adoption by U.S.-based firms, after a new accounting rule change that lets companies more accurately reflect the value of their crypto holdings.
Cory Klippsten, the CEO of Bitcoin-only exchange Swan Bitcoin, told Cointelegraph that Bitcoin-holding companies like MicroStrategy and Tesla, which both had to report impairment on their holdings, “can now more accurately reflect their Bitcoin investments’ true value.”
“This change is crucial for a broad range of companies, not just those primarily focused on Bitcoin, encouraging more mainstream corporate adoption.”
The new Financial Accounting Standards Board (FASB) rules…
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Bitcoin is poised to record a new all-time high of $80,000 in 2024, the same year stablecoins are set to collectively settle more money than payments giant Visa, says a Bitwise senior research analyst.
In a Dec. 13 post to X (formerly Twitter), Bitwise’s Ryan Rasmussen outlined ten bullish predictions for the crypto industry in 2024, with one of the major themes being the explosive growth of the stablecoin industry.
According to Bitwise, stablecoins will be used to settle more volume than Visa payments volume, describing the dollar and other asset-pegged tokens as one of crypto’s most “killer apps.”
By the third quarter of 2023, Visa processed more than $9 trillion in payments while…
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Decentralized finance protocol Yearn.finance is hoping arbitrage traders will return $1.4 million in funds after a multisignature scripting error, resulting in a large amount of the protocol’s treasury being drained.
“A faulty multisig script caused Yearn’s entire treasury balance of 3,794,894 lp-yCRVv2 tokens to be swapped,” according to a Dec. 11 GitHub post by Yearn contributor “dudesahn.”
The error occurred while Yearn was converting its yVault LP-yCurve (lp-yCRVv2) — earned from performance fees on vault harvests — into stablecoins on decentralized exchange CowSwap.
$1.4M WIPED OUT
Yearn Finance stated that their treasury fund lost around $1.4M due to a faulty…
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The U.S. Commodity Futures Trading Commission (CFTC) approved a derivatives clearing organization (DCO) license for Bitnomial, the U.S.-regulated digital asset derivatives exchange announced on Wednesday.
This approval, decided by a four-to-one vote at the CFTC December Open Meeting, positioned Bitnomial as the first crypto-native exchange in the U.S. to hold a complete set of derivatives exchange, clearinghouse and broker licenses.
Bitnomial’s Unique Offering in the Crypto Derivatives Market
In a press release issued on Wednesday, Bitnomial stated it was the only U.S. exchange offering margined, physically delivered digital asset derivatives.
This meant customers could gain actual…
Read more on Benzinga
The cryptocurrency market has demonstrated resilience despite the U.S. Federal Reserve holding interest rates at their current level.
Prices of major digital assets continue to rise. Bitcoin BTC/USD, for example, witnessed a notable increase in its price, currently trading at approximately $42,760.
This marks a 4.1% increase in the last 24 hours, reflecting investor confidence and a positive market sentiment following the Fed’s announcement.
Bitcoin’s market cap currently stands strong at around $836.9 billion, dominating 50.0% of the total cryptocurrency market.
Also Read: ATOM, BONK, SUI: Crypto Experts’ Bullish Forecasts Set The Stage For These Targets
Top 10 Cryptocurrencies: A… Read more on Benzinga
The United States Securities and Exchange Commission (SEC) has delayed its decision on whether to approve or disapprove a spot Ether (ETH) exchange-traded fund, or ETF, proposed by Invesco and Galaxy Digital.
In a Dec. 13 notice, the SEC said it would designate a longer period on whether to approve or disapprove a proposed rule change that would allow the Cboe BZX Exchange to list and trade shares of the Invesco Galaxy Ethereum ETF. The proposed spot crypto investment vehicle is one of many being considered by the commission, which to date has never approved an ETF with direct exposure to Bitcoin (BTC) or other cryptocurrencies.
“The 45th day after publication of the notice for this…
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Crypto attracts all sorts. Some play it safe and only hold bitcoin. Others gamble on memecoins, search for yield or play roulette in crypto casinos. There’s also a few who like trading JPEGs.
Other folks may seem in it for the tech. Cypherpunks might use crypto to avoid constant financial surveillance, and super shadowy coders find power in helping others undermine monetary censorship. Activists under draconian rule write their history to distributed ledgers.
There’s probably even those who prefer to eat carrots that exist somewhere on the blockchain — their supply chains cryptographically verified and backed by an independent carrot-and-crypto farming co-op or some such.
However,…
Read more on Blockworks