Crypto EcoBlog
As the SEC engages in detailed discussions with investment giants like BlackRock and Fidelity, the potential approval of a spot Bitcoin ETF seems to be moving closer to reality. The crypto market is abuzz following recent revelation that the Securities and Exchange Commission (SEC) engaged in discussions with major investment firms BlackRock Inc (NYSE: BLK) and Fidelity Investments, to iron out technical details for a potential spot Bitcoin Exchange-Traded Fund (ETF). Spot Bitcoin ETF and...
Read More »Consumer Price Index (CPI) for November 2023 Rises 3.1% Year-over-year
In November, the Consumer Price Index for All Urban Consumers (CPI-U) in the United States, which gauges prices consumers pay for a wide variety of goods and services experienced a slight uptick of 0.1%, signifying a 3.1% increase from the corresponding period in the previous year. The new figure represents a slight decline from the 3.2% recorded in October on a yearly basis while the monthly rate reflected an improvement from the stagnant CPI reading two months ago. Major...
Read More »Cathie Wood’s Ark Invest Offloads Massive GBTC and Coinbase Shares, Eyes AI Push
While Cathie Wood has been aggressively selling off her investments in crypto firms, she’s making fresh bets in the AI space acquiring shares of top tech companies like Microsoft and Meta. Cathie Wood’s Ark Invest has been doing massive capital rotation by offloading its crypto investments and eyeing a push into AI. Ark Invest executed its most substantial sale in over a year by divesting approximately $12.85 million in Grayscale Bitcoin Trust (GBTC) shares from its Next Generation...
Read More »Active Addresses on Litecoin Network Reach Record High Four Months after LTC Halving
The number of daily transactions on the Litecoin network reached an all-time high of 1.09 million on November 14, surpassing even Bitcoin’s transaction count of around 523,284 at the same time. In a remarkable turn of events, the Litecoin (LTC) network has experienced an impressive surge in active addresses, achieving a new all-time high merely four months after the recent halving in August. As of December 8, 2023, blockchain data analytics company IntoTheBlock said the protocol had...
Read More »Circle: 51% of Consumers Latin America Use Digital Assets for Purchases
Latin America has identified that regulated, blockchain-based financial services will soon be the order of the day. The world of finance, as we have it today, has changed drastically, and stablecoins and tokenized data may be at the center of this change. So much so, that what used to be a difficult task for businesses and private individuals, especially in international payments and settlements, has now become significantly easier. For clarity, transactions worth over $7 trillion were...
Read More »FTX Challenges IRS $24B Tax Claim, Citing Unsubstantiated Figures
FTX’s legal team noted in the filing that paying the $24 billion could impede the repayment of funds to the exchange victims. Lawyers representing the bankrupt cryptocurrency exchange FTX have contested the United States Internal Revenue Service (IRS) claim of $24 billion in unpaid taxes. The attorneys insist that the IRS must substantiate its demands, urging the tax agency to provide evidence supporting its assertion. In a recent filing with a Delaware bankruptcy court on November 10, the...
Read More »El Salvador’s Bitcoin-Backed Volcano Bonds Get Regulatory Approval
By securing outside funding support through the pioneering Volcano Bonds, El Salvador can continue progressing with Bitcoin integration across governmental services and society. El Salvador has successfully overcome a significant regulatory hurdle as it pursues the introduction of Bitcoin-backed sovereign debt instruments, referred to as “volcano bonds”. The nation’s Digital Assets Commission has provided the necessary approvals for the bonds to proceed, marking a significant milestone in...
Read More »Cardano (ADA) Price Analysis: Dips Turn Attractive Near $0.50
ADA price started a downside correction from the $0.650 zone against the US Dollar. The price is now trading above $0.50 and the 55 simple moving average (4 hours). There is a connecting bullish trend line forming with support near $0.540 on the 4-hour chart (data feed via Coinbase). The price could start a fresh increase if it clears the $0.584 and $0.600 resistance levels. Cardano’s price is consolidating above $0.500 against the US Dollar, like Bitcoin. ADA...
Read More »Ethereum Price Analysis: ETH Holds Key Uptrend Support
Ethereum price started a downside correction from the $2,400 resistance against the US Dollar. ETH price is now trading below $2,300 and the 55 simple moving average (4 hours). There is a key bullish trend line forming with support at $2,195 on the 4-hour chart (data feed from Coinbase). The pair could continue to move down if it breaks the $2,100 support zone. Ethereum price is declining below $2,300 against the US Dollar. ETH/USD remains at a risk of more...
Read More »OpenAI’s Rival Mistral AI Valued at $2B after Latest Funding Round
Unlike its competitors, Mistral AI chose to make its model available as a free download instead of providing access through APIs. This approach empowers developers to run the model on their own devices and servers. French Artificial Intelligence (AI) startup Mistral AI has reached a valuation of $2 billion following the conclusion of a successful funding round which raised €385 million ($415 million) to further develop its innovative technology and open-source software. Significance of...
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