An industry CEO’s final plea to Trump, Harris 

This is a segment from the Forward Guidance newsletter. To read full editions, subscribe.

A week out from the US election, the CEO of blockchain infrastructure firm Paxos is imploring the next presidential administration to be better than the last (when it comes to crypto).  

Charles Cascarilla’s open letter to Donald Trump and Kamala Harris doesn’t say much that hasn’t been said before. 

But perhaps the letter hits a little different as voters — millions of which own crypto — get set to cast their ballots next week. And, just days ago, Stripe’s $1.1 billion acquisition of Bridge sends a signal that non-crypto companies recognize the compelling benefits of…

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Daily US Bitcoin ETFs Net Flow Analysis (As of October 29, 2024)

On October 29, 2024, the U.S. Bitcoin ETF market exhibited a strong performance with notable net inflows. BlackRock’s Bitcoin ETF (Ticker: IBIT) continued to attract significant interest, leading with an impressive inflow of 4,528 BTC. This trend underscores BlackRock’s strong foothold in the market as a leading choice for Bitcoin investors.

Fidelity’s Bitcoin ETF (Ticker: FBTC) also saw substantial gains, adding 634 BTC, while ARK’s Bitcoin ETF (Ticker: ARKB) experienced a healthy increase of 859 BTC. These inflows highlight continued investor confidence in diversified Bitcoin investment strategies.

Additionally, Invesco Galaxy’s Bitcoin ETF (Ticker: BTCO) had a robust day, with an inflow of 394 BTC. Other funds like Bitwise (Ticker: BITB) and VanEck (Ticker: HODL) saw increases of 556 BTC and 169 BTC, respectively, further signaling strong investor interest. Only Grayscale’s GBTC observed a minor outflow of 27 BTC.

The total holdings across all ETFs reached 979,777 BTC, with a net increase of 7,201 BTC for the day, valued at approximately $522.5 million. This substantial influx of capital indicates a vibrant day in the Bitcoin ETF market, showcasing the dynamic and growing interest in Bitcoin as an investment asset through ETFs.

Disclaimer: Market capitalizations and data 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.

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VanEck begins SOL staking with Kiln partnership

This is a segment from the Lightspeed newsletter. To read full editions, subscribe.

The crypto-friendly asset manager VanEck has partnered with Kiln to begin staking SOL, the pair told Lightspeed exclusively.

Kiln is an enterprise staking service that boasts integrations with outfits like Coinbase and Babylon. 

With the move, VanEck will now offer regulated access to solana staking rewards on top of the price of SOL. VanEck is one of a few firms offering regulated solana funds in Europe.  

2024 has been a bullish year for crypto, and the fresh market cycle was largely driven, at least initially, by the long-awaited approval of spot bitcoin ETFs in the US. The products…

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Stacks fortifies Bitcoin ties with Nakamoto upgrade

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Stacks, a Bitcoin-adjacent network often referred to as a layer-2, executed a scheduled hard fork early Tuesday following the September Nakamoto upgrade activated by network miners.

“I think it went as smoothly as we could have hoped,” said Muneeb Ali, Stacks co-founder, on a live X space. He added that developers in New York were up all night monitoring the fork.

The Nakamoto upgrade increased the alignment of Stacks with Bitcoin’s finality by further binding Stacks blocks to Bitcoin blocks. Stacks uses a consensus mechanism called Proof of Transfer (PoX), where transactions and…

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Bhutan – Another Country Using Bitcoin To Escape Poverty

Having invested in startups for over twenty years I have deep respect for entrepreneurs trying to build a company. It is so difficult. And more often than not, it doesn’t work out. Developing a whole country, of course, is much more difficult. Many leaders in developing countries don’t even try. They use their short time in power for their own benefit. But some leaders give their best shot. Nayib Bukele made Bitcoin legal tender in El Salvador in September 2021. Since then, the country has shown a remarkable development on so many levels.

The Bitcoin engagement in Bhutan has been rumored for a while. A few weeks ago, we learned about mining operations in Bhutan leading to a…

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LATEST: Gemini Gains Regulatory Approval in Singapore, Eyes Asia Expansion

Gemini, led by the Winklevoss twins, has received in-principle approval from the Monetary Authority of Singapore (MAS) to expand its crypto services. The approval, announced on October 29, enables Gemini to offer cross-border money transfer and digital payment token services, marking a significant step in their Asia-Pacific (APAC) expansion strategy. This move aligns with Gemini’s commitment to growing its regional headquarters in Singapore, aiming to provide a secure and compliant trading experience across APAC.

The decision by MAS reflects Singapore’s role as a leading crypto industry regulator, known for its clear and supportive regulatory environment. This environment has attracted a variety of digital asset companies, fostering a robust crypto base within the city-state. With this approval, Gemini plans to double its workforce from 40 and expand its office space to accommodate the growth, demonstrating a strong commitment to its largest customer base outside the US.

This latest development adds to the growing list of crypto businesses operating under MAS’s approval, including recent approvals for major platforms such as OKX SG and others. Singapore now boasts 28 licensed crypto-related businesses, one of the highest in Asia, cementing its position as a preferred hub for crypto firms.

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Bitcoin is enjoying a small breakout, but election volatility still to come

This is a segment from the Empire newsletter. To read full editions, subscribe.

$71,000.

Bitcoin’s managed to retake $70K after months of trying. We haven’t seen it above this level since it carved out a fresh all-time high in spring.

And now — just a week before the US election — we’re enjoying a small breakout. However, Ledn’s John Glover believes that we need to see a two-day close above $73,000 before he expects any real moves higher. 

But if bitcoin manages to hold on to that level, expect a “rapid move towards $80,000.”

Still, he’s not so sure we’ll go any higher. When we previously chatted with him, he thought he could see a move toward…

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MicroStrategy, Coinbase Shares Are Rising Tuesday: What’s Going On? – MicroStrategy (NASDAQ:MSTR)

Crypto-related stocks MicroStrategy Inc MSTR and Coinbase Global Inc COIN are trading higher Tuesday as Bitcoin BTC/USD prices move higher. Here’s what you need to know.

What To Know: The price of Bitcoin crossed the $71,000 level Tuesday morning for the first time since June, driving strength in the broader crypto market and in crypto-related stocks. Bitcoin was up 3.76% over a 24-hour period, trading around $71,600 at last check.

The Bitcoin surge coincides with significant Bitcoin ETF inflows of approximately $479 million on Monday. Bitcoin ETFs have seen inflows in 11 of the past 12 trading days alongside increased derivatives activity.

Coinbase appears to be rising on…

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21 Million Fashion Makes Bitcoin Clothes That Are Worth the Sats

Look, I like a certain kind of Bitcoin shirt.

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Yes, the tacky ones with famous one-liners are fine, and so are the conference hand-outs. I, too, collect relics from crypto tragedies, holding on to my BitInstant and BlockFi t-shirts for posterity.

But, let’s be honest. Who wears these kinds of things in public?

When it comes to Bitcoin clothing, I still want something that fits into my day to day. Something that, you know, looks like streetwear, but that won’t attract attention, unless…

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