Crypto Weekly Roundup: Market Eagerly Waits For Spot ETF Approval & More
It was the first week of the new year, and the crypto industry is still awaiting the SEC’s decision on Bitcoin ETFs with bated breath. Let’s dive in.
Bitcoin
Asset management firm VanEck has stated that it will donate 5% of the profits generated from its spot Bitcoin ETF (if approved) towards supporting core Bitcoin developers.
Valkyrie’s official filing for securities registration of its Spot Bitcoin ETF with the SEC sparks industry-wide anticipation, as a wave of approvals is expected next week.
ETF issuer Tuttle Capital filed for six leveraged Bitcoin ETFs on January 3 with the SEC, which will offer users magnified returns.
Banking behemoth Goldman Sachs has expressed an interest in getting actively involved as an authorized participant in the proposed spot Bitcoin ETFs introduced by BlackRock and Greyscale.
According to a new Securities and Exchange Fund filing, US-based Cboe has given the Fidelity Wise Origin Bitcoin Fund the nod to be listed under the FBTC ticker.
Markus Thielen, analyst at Matrixport, has predicted that the SEC will reject all spot Bitcoin ETF applications this month.
Financial analyst and host of CNBC Mad Money, Jim Kramer, has changed his stance on Bitcoin, calling the cryptocurrency a technological marvel that is here to stay.
Bitcoin advocate Michael Saylor’s MicroStrategy has accumulated a significant profit of $2.65 billion from their entire BTC reserves.
Crypto ATMs recorded a shocking decline in 2023, with over 5,700 automated teller machines decommissioned. The total number of crypto ATMs dropped from 39,350 to 33,620 across 71 countries.
Business
Crypto exchange Coinbase plans to launch crypto-linked derivatives in the EU by acquiring a holding company with a MiFID II license, allowing it to offer regulated derivatives in the region.
A group of former Citigroup executives plan to offer bitcoin-backed securities that do not require approval from the SEC.
South Korean cryptocurrency exchange Huobi Korea has announced it is terminating its operations with effect from the 29th of January 2024.
Kyrgyzstan is slowly becoming a crypto mining favorite, as the tax revenue from mining experienced a significant surge in 2023.
NFT
YouTuber and social media influencer Logan Paul has promised to refund disgruntled investors of his ambitious CryptoZoo NFT game as long as they don’t sue him after they get the refund.
Web3
The Polkadot blockchain community has become the latest to jump on the memecoin train with the emergence of a new cryptocurrency known as DED.
Blockchain security firm Salus has published its 2023 Web3 security landscape report, which reveals that compared to 2022, overall financial losses from hacking in the web3 industry decreased to $1.7 billion in 2023.
EZ Swap said this week it has closed on a $1 million strategic investment round led by the EOS Network Foundation’s EOS Network Ventures fund.
Security
A recent report by Scam Sniffer indicates that phishing activities have consistently gained momentum across 2023, draining almost $300 million from 320,000 users.
Cross-chain lending protocol Radiant Capital has become the latest DeFi protocol to fall victim to a hack after hackers stole 1900 ETH worth $4.5 million from the platform.
The team behind Tellor is facing accusations of market manipulation after the price of the protocol’s TRB token registered a staggering increase of 172% in a single day.
The cross-chain project Orbit Chain fell victim to a major exploit less than three hours before the new year, resulting in the protocol losing $81 million.
Regulation
The European Banking Authority (EBA), the European Systemic Risk Board (ESRB), and the Financial Stability Board (FSB) will conduct a joint investigation into the links between legacy banks and non-bank financial institutions (NBFIs).
The Nigerian Central Bank (CBN) published strict guidelines for banks and financial institutions opening crypto accounts after lifting the ban on banks’ operating accounts for virtual asset service providers (VASPs).
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
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