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Amid several high-profile submissions, the US Securities and Exchange Commission (SEC) says recent spot Bitcoin ETF filings are inadequate. The statements arrive after asset management juggernauts BlackRock and Fidelity recently filed to launch their own spot Bitcoin exchange-traded funds.  The Wall Street Journal reported that the SEC informed Nasdaq and Cboe of their perspectives on recent filings. Specifically, the report noted the agency’s statements that the filings weren’t “clear and comprehensive.”  JUST IN: SEC says spot #Bitcoin ETF filings are inadequate. — Watcher.Guru (@WatcherGuru) June 30, 2023 Also Read: BlackRock’s Bitcoin Spot ETF Masterplan for 2024 SEC Speaks on Recent Spot Bitcoin ETF Filings Over the last few weeks, the digital asset industry has been surprised by a host of spot Bitcoin ETF applications that have arrived. Moreover, these applications have come from two of the largest names in traditional finance. Both BlackRock and Fidelity are some of the largest

Although generally, the crypto market is stable with the odds favoring the bulls, SOL is among the best-performing tokens on Friday. advertisement Solana Climbs to $20 As mSOL Liquid Staking Takes Traders By Storm Liquid staking platforms like Lido took Ethereum by storm following the transition to a proof-of-stake protocol (PoS). They allow investors to leverage their staked tokens by accessing liquidity through a proxy token. For instance, traders are staking SOL, which earns them annualized returns. A top of this, they receive mSOL tokens, equal to the amount of SOL staked, which they can use as collateral to borrow more SOL. In the end, they can swap the borrowed SOL for the same mSOL. According to a report by CoinDesk, Drift Protocol, a blockchain-based cryptocurrency trading venture on Solana’s network, launched the novel feature on Tuesday dubbed “Super Staking.” Recommended Articles

Institutional staking provider Chorus One is partnering with Nexus Mutual to bring insurance coverage for stakers on Ethereum.  The company will be one of the first node providers to purchase on -chain staking coverage from Nexus Mutual to protect its users from slashing, Hari Iyer, marketing manager at Chorus One told Blockworks. Staking has been a relatively appealing source of income following the Shapella upgrade for institutional investors. “Institutions are looking for a safe source of yield, but no matter how much protection you have, how good the infrastructure set up is, there can be incidents of downtime or slashing,” Iyer said. Slashing is a penalty for validators who engage in dishonest or inactive behavior. Although it is extremely rare, penalties can be severe, Iyer explained.  Validators could lose a cut of their stake or be removed from a network completely if they are slashed.  “When staking your ETH, even with the best technical set-up and expertise, mistakes

Join Our Telegram channel to stay up to date on breaking news coverage After a challenging year for cryptocurrencies, BlackRock’s recent application for a spot Bitcoin ETF brought positive news and a surge in Bitcoin prices. However, the influx of Wall Street influence raises questions about the potential risks associated with the growing involvement of traditional financial firms in the crypto space. Inflows and SEC Concerns CoinShares reported that BlackRock’s spot Bitcoin ETF application resulted in the highest inflows to cryptocurrencies in a year, amounting to nearly $200 million. However, gaining approval from the Securities and Exchange Commission (SEC) remains an uphill battle for BlackRock. The SEC has previously rejected around 30 spot Bitcoin ETF applications, primarily due to concerns regarding market manipulation. Impact on Bitcoin’s Purpose If approved, BlackRock’s spot Bitcoin ETF, along with others that may follow, could attract significant investments and po

Join Our Telegram channel to stay up to date on breaking news coverage The Law Commission of England and Wales has published a report advocating extensive legal reforms to accommodate digital assets within the country’s legal frameworks. Clarity and Certainty The report, titled “ Digital Assets ” aims to promote clarity, certainty, and establish the United Kingdom as a global leader in the crypto industry. NEW: Today we have published our recommendations for reform and development of the law relating to digital assets, like #NFTs and #cryptotokens. Our reforms aim to provide greater legal clarity and encourage technological innovation. 📕 Read more here: https://t.co/GEbJkTQWUm pic.twitter.com/VNPsmwkdXR — Law Commission (@Law_Commission) June 28, 2023 Following a comprehensive consultation period, which concluded on November 4, 2022, the Law Commission’s recommendations address the unique characteristics and rapid evolution of digital assets. The key proposals are as f

Bitcoin miners have sent up to 315% of their daily revenue to exchanges but BTC prices are yet to react. Bitcoin (BTC) miners are sending record amounts of BTC to centralized crypto exchanges. In a June 27 tweet, on-chain analytics platform Glassnode reported an all-time high in Bitcoin miner revenue sent to exchanges . Percent of miner revenue sent to exchanges. Source: Glassnode. It noted that there was currently an “extremely high exchange interaction,” from Bitcoin miners which had sent a record $128 million to exchanges over the past week. This is equivalent to 315% of their daily revenue, the analytics platform noted. There have been several spikes in miner revenue sent to exchanges during the 2021 bull run as they took profits. There was also a capitulation inflow in late 2022 as markets hit their cycle bottom. However, this latest spike has dwarfed them all by a considerable margin. Usually, when miners send BTC profits to exchanges they do so in preparation to cash out to c

With the advancement of technology, analysts have various methods to determine which cryptocurrency has the potential to increase in value. Traders and investors worldwide have asked ChatGPT to predict which cryptocurrency will reach new heights and which will reach a specific value first. To fulfill this demand, we asked ChatGPT to determine whether Tradecurve, Shiba Inu, or Chiliz would first reach the $1 mark. >>Buy TCRV tokens now<< ChatGPT’s outlook for Shiba Inu First, we asked the AI-driven chatbot ChatGPT to tell us the future of Shiba Inu. It noted how the future is bullish and that some analysts predict that its value can reach an average price of $0.00001038 by the end of the year. You might also like: Stacks up over 40%, ethereum is on an upward trajectory, tradecurve is up 80% The reasons for this optimistic outlook include the following: An optimistic outlook for meme coins Extensive development within the Shiba Inu ecosystem The overall bull

Emerging ecosystem tokens experience a substantial decline in market capitalization. Messari’s data reveals the 30-day changes in market share for SOL and MATIC. SEC classification of SOL and MATIC as securities raise regulatory concerns. Leading crypto market intelligence provider, Messari, highlights a significant drawdown in market capitalization for emerging ecosystem tokens following the U.S. Securities and Exchange Commission (SEC) filings against Binance and Coinbase. The market tracker cited the latest categorization of tokens like Solana’s SOL and Polygon’s MATIC as securities in the SEC. The tweet from Messari provided a graph displaying the 30-day changes in market share for several tokens, shedding light on the extent of the decline. With the recent SEC filings against @Binance and @Coinbase , which cited numerous emerging ecosystem tokens such as @solana's $SOL and @0xPolygonLabs $MATIC as securities, emerging ecosystems have seen a roug

Token Unlocks predicted in a tweet today that LDO’s price will rise in the coming days. The platform noted the recent launch of Lido V2, which introduced several “game-changing” features. At press time, LDO was trading at $1.92 after it printed a 2.96% loss over the past 24 hours. The token unlocks dashboard and tokenomics insights platform Token Unlocks tweeted earlier today that Lido DAO (LDO) recently launched Lido V2. According to the post, this upgrade includes “game-changing” Features such as a Staking Router and additional Withdrawal Functionalities. The platform predicts that this upgrade will have a major impact on LDO’s price. The upgrade has not yet had the forecasted impact on the altcoin’s price. However, at press time, CoinMarketCap indicated that LDO was trading at $1.93 after it printed a 24-hour loss of 2.96%. This resulted in the crypto trading closer to its 24-hour low of $1.89, while its daily high stood at $2. Furthermore, the altcoin had

Earlier this month, the US SEC slapped a lawsuit on Binance .US on 13 different accounts of violating federal securities laws. Back then, Binance ’s spot trading market share remained unchanged at 56%. However, the latest data from Kaiko shows that it has now dropped to 53.7%, the lowest since August 2023. advertisement Earlier this year on April 6, the exchange’s daily market share had also plunged to a low of 47%. This was soon after the lawsuit from the US Securities and Exchange Commission (SEC). Crypto exchanges like Binance are facing more pressure as big players from traditional finance, such as BlackRock Inc., want to enter the market and offer regulated Bitcoin exchange-traded funds. These players are trying to attract investors who prefer dealing with regulated institutions. Alex Svanevik, chief executive officer of crypto intelligence firm Nansen, told Bloomberg: “Centralized exchanges will find themselves in a squeeze between decentralized exchanges

Michael van de Poppe predicted that altcoins may soon rally in his latest analysis. The analyst noted that BTC’s dominance could soon face resistance from the 200-week EMA and MA lines. At press time, the total crypto market cap stood at around $1.2 trillion after a 0.65% gain in the past 24 hours. The popular crypto trader and analyst Michael van de Poppe predicted that altcoins may soon rally in his latest crypto market Analysis . In this Analysis , he noted that the 200-week EMA and 200-week MA lines are acting as support levels for the global crypto market cap. As a result, the analyst believes that the market has bottomed out. Van de Poppe also mentioned in his Analysis that the collective altcoin market cap is in the process of forming a higher low, after it recently set a higher high. As a result, he forecasts that the altcoin market may post a 2-2.5X gain in the short-term. Historically, BTC’s rallies have been followed by altcoin prices rallying

The US Treasury has been actively looking into how to make the most of a potential digital dollar , taking into account both national security and privacy. Graham Steele, a Treasury official, said at a payments conference in Austin, Texas on Tuesday that the US has not made a firm decision on whether to pursue a central bank digital currency (CBDC).  But an interagency working group is in place to assess the potential implications of such a currency, he added. A CBDC is a digital version of a country’s currency issued by its central bank, which may or may not run on a distributed ledger or private blockchain system. CBDCs aim to improve payment efficiencies and foster financial inclusion, benefits often associated with cryptocurrencies. The Treasury’s Steele specifically broke down his thoughts on a retail CBDC. As opposed to wholesale digital dollar s only available to large institutions, retail CBDCs would be directly accessible to individuals and businesses for everyday transac

Allegations Against Celsius Network According to a June 23 Bloomberg report, Celsius creditors have recently amended their lawsuit in the United States District Court of New Jersey to allege that Wintermute was engaged by executives to take part in wash trading. Wintermute allegedly aided Celsius Network’s CEO, Alex Mashinsky, and other executives to advertisement “unlawfully manipulate and profit from the illegal wash trading of unregistered CEL Tokens.” If these allegations were to be proven true, they would have far-reaching consequences for the company’s planned altcoin liquidation and the subsequent conversion of funds into Bitcoin and Ethereum. The accusations of market manipulation against Celsius Network, if substantiated, would cast a shadow of doubt on the integrity of the company’s operations. Recommended Articles Crypto Presale Projects For 2023 To I