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Tag Archives: United States

First Bitcoin Futures ETF Could Start Trading on Monday

It appears that years after the first Bitcoin ETF proposal was filed, the United States Securities and Exchange Commission (SEC) has decided to greenlight a futures-backed exchange-traded fund for the first time. ProShares, the company which filed for its Bitcoin Strategy ETF, might be the very first one to see it launch next week. It filed an amended prospectus which indicates that it could go live as soon as Monday. It’s worth noting that this is not a standard ETF but a...

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Tether and Bitfinex Ordered to Pay $42.5 Million Fine by the CFTC

The United States Commodity and Futures Trading Commission (CFTC) has ordered Tether and Bitfinex to pay fines worth $42.5 million. In a release from today, October 15th, Tether Holdings Limited, Tether Limited, Tether Operations Limited, and Tether International Limited – all companies associated with the issuer of the largest stablecoin USDT, Tether, were ordered to pay a fine worth $41 million. This was issued by the CFTC on the grounds of “misleading statements and...

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Cambridge Data: The US Has Become the Leader for Bitcoin Hash Rate

The consequences of the Chinese ban on anything crypto, including mining, have led to a massive flippening as the USA has surpassed China in terms of Bitcoin hash rate share, showed recent data. The Demise of the Chinese Hash Rate Empire Although bitcoin and the rest of the cryptocurrency industry have been banned within China’s borders for almost as long as they exist, the country was responsible for the majority of the BTC hash rate for a long time. In fact, no other nation...

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Joe Biden Could Be Working on an Executive Order to Control the Cryptocurrency Industry, Reports

Biden wants to regulate everything, and it seems that cryptocurrencies are directly in his crosshairs. Apparently, the president of the United States is seriously considering issuing an executive order on cryptocurrencies to get better clarity of the landscape and exercise better control over the industry and the activities related to it. The news, which was initially reported by Bloomberg citing anonymous but familiar sources, comes as no surprise to many ecosystem experts...

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Bitcoin Soars 25% Weekly, Taps Mid-May Highs: The Weekly Crypto Recap

It’s been a green week all across crypto land as positive sentiment and big gains returned to the market. Leading the scene is Bitcoin, with an impressive surge of around 25%, once again tapping the mid-May highs. Just earlier today, Bitcoin reached a price of $56,000 – something that we haven’t seen since the middle of May this year, shortly after the all-time high and right before the massive 50% crash. Analysts believe that this move marks the completion of a bear trap and...

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US Senator Cynthia Lummis Bought up to $100,000 Worth of BTC in August

The Republican Senator Cynthia Lummis has accumulated more bitcoin worth between $50,001 to $100,000 in the middle of August. A spokesperson at her office said the purchase was not disclosed on time due to a “filing error.” Topping up with More BTC As reported by CNBC, the US Senator – Cynthia Lummis – revealed in a recent filing that on August 16th, she increased her bitcoin exposure with another purchase of somewhere between $50,000 and $100,000 worth of the asset. The 2012...

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3 Possible Reasons Behind Bitcoin’s Surge towards $56k

After weeks of struggling and rapidly losing value, bitcoin exploded in the past few days and neared $56k – its highest price line since mid-May. Yesterday alone, the cryptocurrency gained more than $5,000 of value in hours. While the bulls celebrate, it’s worth exploring potential reasons why that might be and could there be more similar developments hiding behind the corner. Reason 1: Whale Purchases Being an asset with a maximum supply of just 21,000,000 tokens with a...

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Bitcoin at 10-Day High After Powell and Despite China FUD: The Weekly Recap

It’s been a very productive week in the cryptocurrency market, but it’s safe to say that most of it was due to the volatile price action during just one of the days – Friday, October 1st. Going back, last Friday, the BTC price was hovering around $43,500, and, in fact, it stayed there for quite some time. This wasn’t so bad, given the overall regulatory scrutiny towards the market and yet another wave of FUD coming from China. The country said that it’s banning the trading of...

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The US Should do The Opposite of China on Crypto: a16z Partner

Speaking at CNBC’s Delivering Alpha conference on Sept. 29, a16z partner Katie Haun said the U.S. should look towards China for what not to do. She was referring to Beijing’s incessant crackdowns on the crypto industry and any activities related to the trade of digital currencies. In her view, financial regulators in the U.S. should be doing the exact opposite, but at the moment, it appears they are following in China’s footsteps with moves to over-regulate crypto rather than...

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SEC Chair Reiterates Support for Bitcoin Futures ETFs, But Concerned About Investors’ Protection

The United States Securities and Exchange Commission (SEC) Chairman, Gary Gensler, has once again renewed his support for the approval of Bitcoin Exchange-traded Funds (ETFs) in the country. Gensler told the Financial Times’ Future of Asset Management North America conference that his main focus is on Bitcoin ETFs that invest in futures contracts and trade on the Chicago Mercantile Exchange under the 1940 Investment Company Act. He disclosed that the Investment Act of 1940...

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