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What We’re Watching: Polymarket

According to the world’s largest prediction market, Polymarket, the pro-Bitcoin candidate for the upcoming presidential election, Donald Trump has taken a 13% lead over Kamala Harris.

There are huge stakes on the line here this election regarding Bitcoin. Trump is promising very favorable regulations, in comparison to Harris, who has put forth no regulations and has an almost four year track record of…

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As of October 10, 2024, U.S. Bitcoin ETFs experienced a net outflow of 96 BTC, reducing the total holdings to 924,360 BTC. BlackRock’s IBIT ETF saw a positive inflow, adding 227 BTC to reach a total of 369,822 BTC, marking the day’s largest gain among the ETFs.

Conversely, Grayscale’s GBTC ETF experienced a notable outflow of 160 BTC, lowering its holdings to 220,187 BTC. Bitwise’s BITB ETF also saw a decrease, losing 163 BTC, bringing its total down to 39,043 BTC. Several other ETFs, including Fidelity’s FBTC, ARK Invest’s ARKB, Grayscale’s BTC, VanEck’s HODL, Valkyrie’s BRRR, Invesco’s BTCO, and Franklin Templeton’s EZBC, reported no changes in their holdings.

Overall, the day’s net outflow of 96 BTC, valued at approximately $5.78 million, reflects a mixed sentiment in the market. While some ETFs experienced gains, the outflows in major funds like Grayscale and Bitwise contributed to a slight overall decrease in Bitcoin ETF holdings.

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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Murad Mahmudov is back igniting our X timelines, but you may have noticed these days the “former” Bitcoin maximalist isn’t posting much about Bitcoin.

For the uninitiated, Murad is a Bitcoin maximalist, albeit one who has run the ire of the culture for taboo ideas: see his 2021-2022 embrace of wrapped Bitcoin assets on other blockchains, and most recently, his incessant writing about a “memecoin supercycle.”

It’s a far cry from his posts circa 2018, when could be seen on “The Pomp Podcast,” saying things like “Bitcoin is the soundest hardest currency that…

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Ripple, a prominent blockchain startup, announced on Thursday the launch of new crypto custody services targeting banks and fintech firms. The San Francisco-based company is introducing a series of advanced features through its newly established Ripple Custody division. These enhancements, including seamless integration with the XRP Ledger and advanced monitoring systems for compliance, are set to empower financial institutions to securely manage and store digital assets for their clients.

This strategic move marks Ripple’s significant expansion beyond its core payment settlement business, encompassing RippleNet. As part of this venture, Ripple Custody aims to simplify operations and bolster security for digital transactions, enhancing user engagement with a new, more intuitive interface. The initiative positions Ripple as a formidable competitor in the crypto custody sector, challenging established players like Coinbase and Gemini.

With the crypto custody market poised to hit $16 trillion by 2030, Ripple’s foray into this field signals a strong commitment to leveraging blockchain technology for broader financial applications. The company’s recent acquisitions and robust customer growth underline its ambition to revolutionize digital asset management and further solidify its market presence.

CNBC

Thailand’s Securities and Exchange Commission is making significant strides in the cryptocurrency arena, proposing changes that would allow mutual and private funds to invest in crypto products like ETFs, particularly those traded in the U.S. The move, aimed at meeting the burgeoning interest from institutional investors, introduces guidelines allowing securities companies and asset management firms to cater to large investors with a variety of crypto-related offerings.

In a move to regulate and foster innovation, the SEC is also launching a Digital Asset Regulatory Sandbox, involving ten private firms in trial projects that could pave the way for crypto payments in Thailand. This initiative, coupled with the proposal to lift restrictions for institutional and high-net-worth investors on crypto exposure, marks a progressive step towards integrating digital assets into mainstream finance while ensuring robust regulatory oversight and investor protection.

Source

Payments to creditors of Mt. Gox will now take longer than previously expected. The deadline for the distribution of funds has been extended from Oct. 31, 2024, to October 31, 2025, due to the fact that a large deal of creditors still have not completed necessary proceedings to receive their dues. While some payments have been made, many others remain outstanding.

The extension, authorized by the court, aims to give creditors more time to sort through their claims.

Official Doc link