bitcoin_newstg

July 6, 2023, 12:16

💰 Do Kwon Transfers $163 Million Worth Of Bitcoin To Anonymous Wallet

Digital Asset reports that Terraform Labs CEO, Do Kwon transferred 5292 BTC (approximately $163 million) from a Luna Foundation Guard (LFG) Binance wallet to a new anonymous wallet on July 3rd. Prior to this transfer, only 351 BTC had been withdrawn from the wallet on May 8th. On July 3rd, 2021, the encrypted wallet held by Terraform Labs CEO Do Kwon, known as Luna Foundation Guard (LFG)’s Binance wallet, transferred all 5,292 BTC (approximately $163 million) to a new anonymous wallet that has no known connection to Kwon, according to Digital Asset.

The LFG wallet is the Binance wallet of the Luna Foundation, which Kwon established in January 2021 with the aim of defending the price of LUNC (Terra Classic). The wallet contained the largest amount of Bitcoin among Kwon’s on-chain assets. On November 2022, it was reported for the first time that 6983 BTC (approximately 155.6 billion won) were stored in this wallet. Since then, all transactions that took place in the wallet have been tracked and reported ten times. Prior to the BTC transfer, a test transfer appeared between the LFG wallet and the anonymous wallet on June 22nd and 23rd, where they exchanged 0.0211 BTC (approximately 870,000 won) three times.

Source

https://t.me/Bitcoin_NewsTg

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bitcoin_newstg

July 5, 2023, 5:57

🏦 BlackRock Chooses Coinbase as Surveillance Partner, COIN Skyrockets 12%

BlackRock, one of the fund managers that had to resubmit their ETF applications, due to the Security and Exchange Commission (SEC) claiming that applications submitted by Nasdaq and Chicago Board Options Exchange (Cboe) on their behalf were “inadequate,” has filed again for a Bitcoin ETF. The original filing contained details of an agreement between Nasdaq and Coinbase from last month. The objective of the agreement was to “supplement the exchange’s market surveillance program” and provide access to spot BTC trade data.

According to reports, if the BlackRock Bitcoin ETF is approved, Nasdaq will receive market data for orders and trades from Coinbase, which it will use to monitor the trading. The SEC has approved futures-based ETFs in the past, but not a spot-based one that is physically backed by the asset, as opposed to CME contracts. The SEC and Wall Street’s move to control the asset class has been interpreted by industry analysts as a response to the recent crackdown on crypto companies in America. Cboe has refiled applications on behalf of several other firms, including Fidelity, WisdomTree, VanEck, and Invesco, all of which also listed Coinbase as a surveillance-sharing partner, who were looking to launch spot BTC funds last week.

Source

https://t.me/Bitcoin_NewsTg

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bitcoin_newstg

July 4, 2023, 9:01

🇹🇭 SEC Thailand Prohibits Crypto Staking And Lending With The Passage Of The New Act

On July 3, 2023, Thailand’s Securities and Exchange Commission (SEC Thailand) issued guidelines for cryptocurrency trading entrepreneurs to disclose risk warnings so that traders are adequately informed about the risks of cryptocurrencies, as well as rules prohibiting digital asset business operators from providing services. Instead, to strengthen investor protection from the hazards of such services, back digital asset custody with returns to deposit staking and lending.

To safeguard investors, the rules went into force on July 31, with an injunction prohibiting deposit staking and lending effective on August 30. However, the SEC approved requiring cryptocurrency business operators to disclose warnings of the risks of trading cryptocurrencies at its meeting No. 12/2022 on September 1, 2022, and set to prohibit digital asset business operators from providing services or supporting deposit staking & lending services. The authorities determined to adopt upgrading the rules for revealing risk warnings from cryptocurrency trading to be more suitable at meetings No. 16/2022 on December 1, 2022, and No. 9/2023 on May 11, 2023, so the SEC Thailand has continued to write the regulations for both of these topics.

Source

https://t.me/Bitcoin_NewsTg

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bitcoin_newstg

July 3, 2023, 7:26

🇺🇸 Bittrex Challenges SEC's Authority in Lawsuit Dismissal Motion

Cryptocurrency exchange Bittrex has submitted a motion to dismiss in its legal dispute with the United States Securities and Exchange Commission (SEC). Bittrex argues that the SEC does not have the authority to regulate cryptocurrencies as securities unless explicitly granted by Congress. This assertion challenges the SEC’s interpretation of existing securities regulations and seeks to establish a more defined regulatory framework accommodating digital assets.

In its motion to dismiss, Bittrex has adopted a similar approach to Coinbase, aligning its arguments closely with those made by the larger cryptocurrency exchange. This alignment indicates a strategic move by Bittrex to capitalize on the robust legal framework established by Coinbase and construct a unified defense against the SEC’s lawsuit. Bittrex’s legal team identifies what they perceive as shortcomings in the SEC’s allegations regarding the trading of investment contracts. While both defendants acknowledge that the initial sale of certain crypto assets could be classified as securities contracts, they contend that the same classification does not extend to assets traded on secondary markets.

Source

https://t.me/Bitcoin_NewsTg

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bitcoin_newstg

July 2, 2023, 4:14

💰 Bitcoin Miner Hive Blockchain Touts Privacy of AI Models Running on Its GPUs

Bitcoin mining firm Hive Blockchain (HIVE) aims to allow customers to train large language AI models in its data centers, touting better privacy compared to rivals such as OpenAI's ChatGPT, the firm said on an earnings call with analysts on Friday. Miners have been increasingly pivoting to AI as mining economics have interfered with their profitability, with some facing bankruptcies, while the AI sector sees a boom in interest from investors.

"Companies now are mindful that they don't want to upload sensitive client data to a company like OpenAI that has a public LLM [large language model]. What we aspire to offer at Hive through Hive Cloud is privacy where companies can have a service agreement in place, ownership of their data and privacy and still run AI [artificial intelligence] compute workloads on our bank of GPUs [graphics processing units]," said Aydin Kilic, CEO and President of the mining firm. However, it is yet to be determined whether miners can compete with big tech firms such as Google and Amazon Web Services who benefit from both economies of scale and decades of experience running high-quality customer-facing data centers.

Source

https://t.me/Bitcoin_NewsTg

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bitcoin_newstg

July 1, 2023, 5:34

📣 Celsius Can Convert All Altcoins To BTC, ETH After July 1

Celsius just stated that it had been given permission to begin liquidating its altcoins, as this insolvent cryptocurrency lender intends to payout to creditors using only the two most prominent cryptocurrencies, Bitcoin (BTC) and Ethereum (ETH). Bankruptcy Judge Martin Glenn of the Southern District of New York accepted the action, which Celsius suggested following conversations with the Securities and Exchange Commission (SEC), which has said that a spectrum of less-used crypto coins needs regulatory permission.

On July 1, 2023, Celsius will be able to sell or convert any non-BTC and non-ETH cryptocurrency into BTC or ETH. Celsius has $70.5 million in CEL, $51.8 million in MATIC, $26.2 million in ADA, $17.3 million in LINK, and $14.4 million in LTC, among other investments. The cryptocurrencies owned by Celsius amount to $218 million, according to an alleged balance sheet that went viral in April and include CEL, MATIC, ADA, LINK, LTC, DOT, BCH, AAVE, UNI, XLM, SOL, EOS, FIT, SRM, and BNB. Celsius’ native token is CEL, while the remainder is largely MATIC and ADA. The company has been in regular contact with the SEC and certain state regulatory agencies regarding the proposed distribution of cryptocurrency under the plan to ensure that all such distributions are in full compliance with applicable federal.

Source

https://t.me/Bitcoin_NewsTg

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bitcoin_newstg

June 30, 2023, 6:23

🇬🇧 UK Now Admits Crypto As Regulated Financial Activity In The Country

The United Kingdom (UK) has taken a proactive step to strengthen its financial ecosystem with the Royal Assent of the Financial Services and Markets Bill (FSMB). The UK Government has been working on the Financial Services and Markets Bill for quite some time, and it believes that its passage will play a central role in delivering the Government’s vision of growing the economy and creating an open, sustainable, technologically advanced financial services sector, and it includes measures to bring crypto and stablecoins under regulation.

Among other things, the FSMB establishes a clear route for crypto assets to be regulated as financial products in order to facilitate their safe adoption in the United Kingdom. The necessity to release a functioning regulation remains one of the most pressing issues in the United States, and the clear progress in the United Kingdom has sparked fears that America would lag behind in adopting future innovation. The recently signed Bill in the United Kingdom is significantly more comprehensive since it considers wider innovation using blockchain technology. Significantly, the Act provides “sandboxes” that potentially promote the deployment of innovative technologies like blockchain in financial markets.

Source

https://t.me/Bitcoin_NewsTg

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bitcoin_newstg

June 29, 2023, 4:36

🇦🇺 Australian Treasury Takes Action On Crypto De-Banking Crisis

The Australian Treasury said on Wednesday that it recognizes the importance of de-banking corporations. The Treasury also said that it knows that further delay will drive businesses underground. The action follows reports of banking partners disconnecting from crypto platforms in the nation. In the same declaration, it backed up the bulk of prior Council of Financial Regulators (CFR) guidance on de-banking, which might harm crypto-related firms. Last year, the CFR made four suggestions to the government on potential de-banking legislative steps.

The government’s move to explain its position on de-banking comes only hours after Blockchain Australia repeated its vow to eliminate fraud. Moreover, the development came after claims that Binance Australia had just 24 hours’ warning before de-banking. Binance Australia has ceased accepting AUD payments and withdrawals through bank transfers. Debanking is a severe problem. Binance’s de-banking harmed around 1 million Australian consumers. Without a doubt, the unexpected departure from the banking system has posed challenges for the crypto exchange. Users were reassured that the loss of their banking partner had not had a substantial impact on their business operations.

Source

https://t.me/Bitcoin_NewsTg

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bitcoin_newstg

June 27, 2023, 6:58

💰 Bitcoin Investment Soars With $187 Million Inflows In A Week, Beating Expectations

According to Coinshare, digital asset investment products saw the largest weekly inflows since July 2022, totaling $199 million. Bitcoin was the primary beneficiary, receiving $187 million in inflows last week. The renewed positive sentiment is believed to be due to high-profile ETP issuers filing for physically-backed ETFs with the US Securities & Exchange Commission. Total assets under management (AuM) have reached $37 billion, their highest since before the collapse of 3 Arrows Capital.

Ethereum saw minor inflows of $7.8 million, representing just 0.1% of AuM relative to Bitcoin’s inflows at 0.7%, suggesting a lower appetite for Ethereum compared to Bitcoin at present. The turn in sentiment did not trickle down to altcoins, with only minor inflows into XRP and Solana totaling $0.24 million and $0.17 million, respectively. However, the improved sentiment did encourage some investors to buy multi-asset investment ETPs, with $8 million in inflows last week. This surge in digital asset investment products can be attributed to filing physically-backed ETFs with the US Securities & Exchange Commission. This renewed positive sentiment is a welcome change after nine consecutive weeks of outflows. The increased inflows for Bitcoin is a clear indication of its dominance in the market, with Ethereum lagging behind.

Source

https://t.me/Bitcoin_NewsTg

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bitcoin_newstg

June 26, 2023, 6:22

📣 Jim Cramer’s Latest Change of Heart, Says He is Not Against Crypto

Jim Cramer – the host of CNBC’ financial TV show “Mad Money” – clarified that he is “not against crypto” but opposes such projects that scam people. This is yet another controversial statement coming from the American who has changed his view on the industry countless times over the years. The crypto community often mocks him for making not-so-accurate price predictions and investment guidance. For one, Cramer advised people to sell their “awful” positions in December last year when bitcoin was hovering around $17,000. Recall that the leading digital asset has recently surpassed $30,000.

Cramer took it to Twitter to explain that he is not a critic of the digital asset industry. Instead, he is against “BOGUS crypto and outfits” that drain money from investors and never give it back. Hundreds of users noted under the post that Cramer’s latest statement is much different than what he had shared before. He suggested at the beginning of 2022 that BTC and ETH selloffs could be over, hinting at the start of a new bull run. Nonetheless, last year was devastating for the sector and saw the meltdown of multiple giants, such as FTX, Three Arrows Capital (3AC), Celsius Network, and others, whereas bitcoin and ether lost a significant chunk of their USD valuation. On the other hand, the crypto market started ascending shortly after he told investors.

Source

https://t.me/Bitcoin_NewsTg

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