Author: Max Bauer
Bitwise Asset Management is making significant changes to its three crypto futures exchange-traded funds (ETFs) to incorporate Treasuries and reduce volatility. The firm filed amendments with the U.S. Securities and Exchange Commission (SEC) on Friday to modify the Bitwise Bitcoin Strategy Optimum Roll ETF, the Bitwise Ethereum Strategy ETF, and the Bitwise Bitcoin and Ether Equal Weight Strategy ETF. The revamped ETFs, expected to take effect around December 3, 2024, will employ a trend-following strategy that rotates between crypto and Treasury exposure based on market conditions. According to Bitwise Chief Information Officer Matt Hougan, the goal is to minimize downside…
A forthcoming HBO documentary is set to reveal the identity of the enigmatic Satoshi Nakamoto, the pseudonymous creator of Bitcoin, according to a report in Politico. If true, the documentary would finally put an end to one of the greatest mysteries in financial history. Traders Bet That Satoshi Nakamoto is Len Sassaman Satoshi Nakamoto, believed to be worth an estimated $67 billion in Bitcoin, has remained anonymous since the cryptocurrency’s inception in 2009. As anticipation grows for the HBO show, which is scheduled to air on October 8, a betting pool on Polymarket has opened, allowing users to wager on…
Following the recent SEC appeal of the Ripple Labs case, cryptocurrency journalist Eleanor Terrett has highlighted a significant development. The SEC has yet to file its Form C with the Second Circuit, a document that outlines the specific issues they intend to appeal. This omission leaves Ripple in a state of uncertainty as they await clarification on the SEC’s next steps. Terrett noted that Ripple has a 14-day window from the date of the SEC’s appeal to file a cross-appeal if they choose to do so. In its notice of appeal, the SEC referenced August 7 as the date when…
A new HBO documentary is set to unveil the mystery surrounding the identity of Satoshi Nakamoto, the pseudonymous creator of Bitcoin. The documentary, directed by Emmy-nominated Cullen Hoback, is scheduled to air next Wednesday at 2 a.m. CET (Tuesday at 9 p.m. EST). Some Wallets from the Satoshi Nakamoto Era Have Recently Become Active If the documentary’s findings are confirmed, it could send shockwaves through the financial world and even the upcoming U.S. presidential election. Republican candidate Donald Trump has garnered significant support from Bitcoin enthusiasts, and the revelation of Satoshi’s identity could potentially impact the political landscape. Bitcoin, a…
Crypto exchange giant Binance is facing a significant decline in market share, falling to its lowest level in four years, according to a report released on Thursday by CCData. Binance’s Performance Hits Lowest Levels Since 2020 The report revealed that Binance now handles only 36.6% of overall spot and derivatives trading volume on centralized crypto exchanges – its weakest performance since September 2020. This represents a substantial drop from August, with spot trading falling by nearly 23% and derivatives trading declining by 21%. Both figures translate to the exchange’s lowest market share since early 2021. Binance has not yet responded…
A new report by the Crypto Information Sharing and Analysis Center (CryptoISAC) has challenged the widely held belief that cryptocurrencies are a haven for illicit activities. The report, titled “Blockchain’s Role in Mitigating Illicit Finance,” found that criminals actually prefer to deal in cash. Almost All Criminals Use Cash Instead of Crypto In collaboration with Merkle Science, the report analyzed blockchain data and traditional financial systems to assess their susceptibility to criminal activity. The findings were surprising: while cryptocurrencies have often been associated with illegal activities, the data suggests that traditional financial systems may be more conducive to money laundering…
In a recent report, analysts at J.P. Morgan have warned that increasing geopolitical tensions and the upcoming U.S. presidential election could drive investors towards gold and bitcoin as safe-haven assets. Debasement Trade Drives Investors to Gold and Bitcoin The analysts, Nikolaos Panigirtzoglou, Mika Inkinen, Mayur Yeole, and Krutik P Mehta, referred to this trend as the “debasement trade,” driven by factors such as heightened geopolitical uncertainty, inflation concerns, government deficits, and waning confidence in fiat currencies. Gold prices have seen a significant surge in recent months, approaching the $2,700 level on September 26. The analysts attributed this increase to a…
An independent researcher going by the online handle “@w_s_bitcoin” and username Wicked has sparked discussion around potential manipulation of the Bitcoin network in its very early days. Satoshi Nakamato Experiments Started After The Bitcoin Whitepaper Was Published Wicked claims to have uncovered evidence suggesting Satoshi Nakamoto, the pseudonymous creator of Bitcoin, might have been testing a 51% attack on the network in May 2009. A 51% attack occurs when a single entity or group controls more than half of the computing power on a blockchain network. This allows them to potentially manipulate transactions or prevent new blocks from being added.…
The cryptocurrency XRP experienced a sharp decline on Thursday following the U.S. Securities and Exchange Commission’s (SEC) appeal of a favorable court ruling in its ongoing legal battle against Ripple Labs. Judge Had Decided In What Would Be A Partial Victory For XRP The SEC had sued Ripple in 2020, alleging that the company had violated securities laws by selling XRP without registering it as a security. In a significant victory for the cryptocurrency industry, a U.S. District Judge last year ruled that XRP was only considered a security when sold to institutional investors. However, the SEC has now challenged…
Ripple’s Chief Legal Officer, Stuart Alderoty, has issued a statement in response to the Securities and Exchange Commission’s (SEC) decision to appeal the recent court ruling in the XRP case. Ripple Chief Legal Officer Questions Critical Official’s Resignation Ahead of SEC Appeal Decision in XRP Case Alderoty expressed disappointment but not surprise at the SEC’s move, calling it a continuation of the agency’s “litigation warfare” against the cryptocurrency industry. He emphasized that the court had already rejected the SEC’s claims of recklessness and fraud, and there were no allegations of victims or losses. “This agency, under this Chair, continues to…