News – Page 47

Invesco and Galaxy Asset Management Slash Fees in Bitcoin ETF Battle

Invesco and Galaxy Asset Management have joined the ongoing battle over fees in the spot Bitcoin ETF space. The two companies announced that the Invesco Galaxy Bitcoin ETF (BTCO) will now have an expense ratio of 0.25%, reduced from its previous 0.39%. The fund will waive its fees for the initial six months or until it reaches $5 billion in assets. This adjustment marks the latest in the competitive landscape of the emerging industry, where various issuers have been slashing fees.

Source: Chayanika Deka, 2024-01-31; https://cryptopotato.com/invesco-and-galaxy-asset-management-slash-fees-in-bitcoin-etf-battle/

Bull Market Over for ETH Following Drop to $2.4K? (Ethereum Price Analysis)

Einstein’s 4-hour chat paints a more clear picture of the recent price action. The cryptocurrency has been forming a falling wedge pattern since failing to break above the $2,700 resistance area. Meanwhile, considering the availability of several support levels, investors can still be optimistic about the short-term trend. A bullish breakout from the wedge can result in a retest of the $ 2,700 level, while a breakdown would be catastrophic, according to the 4- hour chat. The market is currently consolidating below the mentioned level.

Source: CryptoVizArt, 2024-01-20; https://cryptopotato.com/bullmarket-over-for-eth-following-drop-to-2-4k-ethereum-price-analysis/

Over 80% of Optimism (OP) Token Holders Stay Profitable Amid Market Turbulence: Data

OP, the native token of the layer-2 Optimistic Rollup network, incurred weekly losses of over 20%. Despite this, a substantial number of token holders maintained a profitable position. Such a trend is viewed as positive for the crypto asset, indicating the resilience of long-term investors who have navigated through the market’s volatility. It also underscores investor confidence for sustained growth in the future. The layer 2 scaling solution has witnessed massive growth over the past year, c, c.

Source: Chayanika Deka, 2024-01-25; https://cryptopotato.com/over-80-of-optimism-op-token-holders-stay-profitable-amid-market-turbulence-data/

Jack Dorsey Believes Bitcoin Will Drive ‘World Peace’ and ‘Energy Abundance’

In a recent interview, Jack Dorsey and Luke Dashjr shared their insights on the current state and future trajectory of Bitcoin. The interview also shed light on Ocean Mining’s innovative efforts to combat the centralization of mining pools. Dorsey believes BTC can potentially contribute to “world peace” and “energy abundance” The conversation then shifted to theCurrent state of the Bitcoin mining landscape. Dashjl described the situation as “pretty terrible,” explaining that there are essentially 11 entities that decide what goes on the blockchain.

Source: Wayne Jones, 2024-01-26; https://cryptopotato.com/jack-dorsey-believes-bitcoin-will-drive-world-peace-and-energy-abundance/

Meitu Focuses on AI Growth, Moves Away from BTC, ETH Investments

Meitu, the pioneering Hong Kong-listed company known for its ventures into cryptocurrencies, has recently announced a strategic shift away from digital assets. The company, which made headlines in 2021 for investing around $100 million in cryptocurrencies, revealed that its growth is now driven primarily by its artificial intelligence (AI) business. The decision is rooted in the changing global economic environment, which has prompted many companies to rethink their spending habits. This shift, in turn, has created an opportunity for Meitu’s products to gain traction in the market.

Source: Wayne Jones, 2023-10-23; https://cryptopotato.com/meitu-focuses-on-ai-growth-moves-away-from-btc-eth-investments/

We Asked ChatGPT if Bitcoin’s Price Will Hit $100K in Case the SEC Aproves a Spot BTC ETF

ChatGPT said that whether Bitcoin hits $100K after the SEC approves a spot BTC ETF hinges on multiple considerations. Approval of a spot Bitcoin ETF could make it easier for institutional investors to gain exposure to Bitcoin. Increased institutional interest might lead to higher demand and potentially higher prices. ChatGPT also said that if the SEC does approve a spotBTC ETF, the price of Bitcoin could go as high as $200K. The SEC has yet to make a decision on whether to approve or reject the application.

Source: George Georgiev, 2023-10-22; https://cryptopotato.com/we-asked-chatgpt-if-bitcoins-price-will-hit-100k-in-case-the-sec-aproves-a-spot-btc-etf/

Ukraine Uncovers Embezzlement Ring Involving Defense Ministry Officials

One of the five suspects was arrested as he tried to leave the country. Precautionary measures were implemented against the other four. The suspects have been notified of the charges for which they could end up in prison for up to 12 years. “The suspects sought to misappropriate approximately 1.5 billion Ukrainian hryvnias ($39.68 million) designated for acquiring 100,000 mortar rounds for the Ukrainian Armed Forces,” the SBU said in a statement.

Source: Written by Zdravko Ljubas, 2024-01-31; https://www.occrp.org/en/daily//en/daily/18417-ukraine-uncovers-embezzlement-ring-involving-defense-ministry-officials

The Most Outrageous Confessions by Caroline Ellison in the Case Against SBF

Caroline Ellison, SBF’s ex-girlfriend, took the witness stand twice this week. Ellison, former Alameda CEO, said that while she had a business executive position at the trading firm, it was Sam who specifically directed her on how to use Alameda’s funds, move capital, and talk to institutions and investors. Ellison stated that Sam pressured her and the Alameda team to “borrow as much money as we could,” resulting in $10 billion of outstandi

Source: George Georgiev, 2023-10-15; https://cryptopotato.com/the-most-outrageous-confessions-by-caroline-ellison-in-the-case-against-sbf/

Binance Recovers Market Share Two Months After DOJ Settlement

The market share of the world’s largest cryptocurrency exchange Binance has recovered significantly after plunging in the second half of 2023. The U.S. regulatory crackdown on the exchange peaked in November when the Department of Justice (DOJ) a $4.3 billion settlement with the trading platform over several charges, including a willful flo. According to a from crypto market data provider Kaiko, the market share has risen to 49%, up from multi-year lows recorded as the exchange navigated its legal hassles.

Source: Mandy Williams, 2024-01-31; https://cryptopotato.com/binance-recovers-market-share-two-months-after-doj-settlement/

Here’s What Ripple (XRP) CEO Had to Say About the Bitcoin ETFs

Ripple CEO Brad Garlinghouse has expressed his validation of the U.S. Securities and Exchange Commission’s decision to authorize financial institutions to offer investors spot Bitcoin exchange-traded fund (ETF) products. In a recent with FOX Business, the Ripple boss noted that the approval from the financial regulator is a step closer to bringing cryptocurrencies like Bitcoin into the mainstream. The product is an investment vehicle that allows financial companies to offer a BTC-backed asset to retail and institutional investors. The mechanism of the product mandates that the issuing companies purchase actual BTC.

Source: Mandy Williams, 2024-01-20; https://cryptopotato.com/heres-what-ripple-xrp-ceo-had-to-say-about-the-bitcoin-etfs/

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