Blockchain Founders Fund’s Post

🚨 Top Blockchain News of the Week: 29th June 2024 🚨 1. A #Bitcoin wallet from 2010, inactive for 14 years, transferred 50 BTC to Binance. The wallet belonged to a miner who earned 50 BTC as mining rewards when #BTC was $0.05. This rare movement of #Satoshi-era BTC has caught significant attention. 2. #Coinbase filed lawsuits against the #SEC and #FDIC, claiming unfair targeting and overregulation. The exchange seeks clarity under the Freedom of Information Act, challenging the regulatory pressure it faces amidst a broader #crypto crackdown. 3. #Bitcoin dropped towards $60,000 after the U.S. moved $240M worth of seized #SilkRoad-related BTC to Coinbase Prime. This transfer, from narcotics trafficker Banmeet Singh's case, raised concerns about market impacts from selling these assets. 4. The #IRS released final "broker rule" guidance, delaying decisions on non-custodial platforms like #DEXs. #Crypto lobbyists feared ambiguous language could impact wallet providers and DEXs. The IRS clarified custodial brokers are defined as brokers, with further reviews pending. 5. The #SEC sued #Consensys for offering unregistered securities and not registering as a broker. Consensys, expecting this, claims #MetaMask doesn't need to register as a securities broker and vows to defend its stance in court. Check here for more information: https://lnkd.in/dYQDnsky

October #CryptoNews 👇 Read Full October Overview HERE: https://lnkd.in/g2W4Wvwa JKL's monthly newsletter by Ken Chan and Sixte Court-Payen 👉 Market update #Bitcoin has been consolidating around $34,000 following the strong upward movement towards the end of month. From a chart analysis perspective, bitcoin price has regained the support-resistance zone at $31,700 and if held above, the weekly Fibonacci 0.382 level at $36,000 could be a reasonable level to watch next. The turning point came during mid-month as the SEC confirmed that it will not appeal against the #Grayscale court ruling regarding the conversion of Grayscale Bitcoin Trust #GBTC into a spot-based ETF. --- 👉 Bitcoin's Ride to $30k: A Tale of Fake News and ETF Anticipation In the early hours of 16 October, otherwise an ordinary Monday, the cryptocurrency market witnessed a sudden and sharp surge in the price of Bitcoin from $27,900 to $30,000, a staggering 10% rise within minutes. The reason? An erroneous report suggesting that the U.S. Securities and Exchange Commission #SEC went forward and approved BlackRock's iShares bitcoin exchange-traded Fund #ETF. The false information sent waves through the crypto community, triggering numerous buy orders as traders rushed to capitalize on the bullish move. But as the dust settled, reliable sources like Fox Business denied the news and reality pointed its nose – the approval news was baseless. Cointelegraph who relayed the information officially apologized and launched an internal investigation. BlackRock confirmed that its Bitcoin ETF application remains under review. Yet again, crypto traders are reminded of how fake news can momentarily stir the cryptocurrency market. --- 👉 Sam Bankman-Fried’s criminal trial in New York The criminal trial of Sam Bankman-Fried #SBF, founder and CEO of the now-defunct #FTX exchange, has been another focus for crypto natives during October. Currently being tried at the United States District Court for the Southern District of New York, SBF is being charged of seven criminal counts of wire fraud, securities fraud, and conspiracy. If convicted, the once golden boy of crypto could in theory receive what would amount to a life sentence. Even though no mobile phones and electronic devices are allowed in the courtroom, crypto and law enthusiasts are kept well-informed of the latest developments at the courtroom. This is all thanks to dedicated journalists and content creators like Carly Reilly, Tiffany Fong and Matthew Russell Lee, who turned up on a daily basis to physically observe the trial. Through their first-hand documentation, we were able to learn about many startling details of the operations and (mis)management at FTX and its sister hedge fund #Alameda Research. Read Full October Overview HERE: https://lnkd.in/g2W4Wvwa

Bitcoin Gets The SEC’s Spot Tick – But Caveat Emptor! https://lnkd.in/eGS4e46K The Securities and Exchange Commission has for the first time approved exchange-traded funds that invest directly in Bitcoin, a move heralded as a landmark event for the roughly $1.7 trillion digital-asset sector that will broaden access to the largest cryptocurrency on Wall Street and beyond. Now much is resting on the concept that the futures market has already brought crypto assets sufficiently into the financial mainstream. The SEC was frankly bounced into this decision in response to the loss of some critical legal cases, and puts Bitcoin ever closer to existing financial services players. This does not necessarily mitigate risk. SEC Chair Gary Gensler said “While we approved the listing and trading of certain spot Bitcoin ETP shares today, we did not approve or endorse Bitcoin,”. “Investors should remain cautious about the myriad risks associated with Bitcoin and products whose value is tied to crypto.” Crypto zealots have for years argued that a so-called spot fund that invests directly in Bitcoin would be beneficial to investors and would help bring the industry closer to the more highly regulated world of traditional finance. It also suggests a sort of milestone of maturity for the relatively nascent industry, where skirmishes with regulators came to a climax after the collapse of Sam Bankman-Fried’s FTX empire highlighted risks lurking in the industry. But of course, by definition, the mainstream approval this represents cuts right across the original ideology of Bitcoin already compromised by the significant use of derivatives, and becoming ever more controlled by large financial institutions and regulators. Even after Gensler went to such lengths to say that the SEC wasn’t giving any seal of approval to Bitcoin, the odds remain that this will expose many more people to crypto’s risks and opportunities. So Caveat Emptor! Let The Buyer Beware! https://lnkd.in/g3P5Nmmb Go to the Walk The World Universe at https://lnkd.in/gFYzZZHe

🚨 Top Blockchain News of the Week ending November 10th, 2023 🚨 1. #Blackrock’s plans for a spot #Ether exchange-traded fund (#ETF) have now been confirmed, per a 19b-4 form filing submitted to the United States Securities and Exchange Commission on Nov. 9. 2. Justin Sun's crypto exchange #Poloniex seemingly hit by hack for over $100M. The centralized crypto exchange appears to have suffered a security #hack on one of its wallets, tagged as Poloniex 4 on #Etherscan. 3. European Parliament approves controversial #Data Act, which may require kill switches on smart contracts. The measure passed by a huge margin, with 481 votes in favor, 31 votes against, and 71 votes abstaining. 4. #JPMorgan has added a programmable payments feature to its #blockchain-powered payment system, #JPM Coin. The new feature enabling the automated transfer of funds has already been employed by German firm #Siemens AG. 5. U.S. #SEC said to open talks with #Grayscale on spot #Bitcoin ETF push. Representatives of the company are answering questions from two divisions of the U.S. SEC in the wake of Grayscale's court win over the agency. Check here for more information: https://lnkd.in/dYQDnsky

🚨 Top Blockchain News of the Week: 6th January 2024 🚨 1. The SEC's acceptance of 19b-4 amendment filings from major asset managers for spot Bitcoin ETFs signals a significant step towards potential approval, hinting at increased crypto adoption in the U.S. and globally. 2. Celsius, amidst restructuring, plans to unstake $470M worth of Ethereum, stirring market concerns. This move aims to distribute assets to creditors and offset restructuring costs, impacting a significant portion of ETH awaiting withdrawal. 3. The founder of Taiwan's ACE Exchange was arrested for alleged fraud involving false crypto ads, with police seizing assets over $6.4 million. ACE clarifies the founder ceased daily operations in 2022 and is aiding the police as a witness. 4. Mango Markets, hit by a $100M heist in 2022, faces U.S. regulatory inquiries. Its governing body considers appointing a legal representative amid Avi Eisenberg's upcoming fraud trial. 5. Visa introduces a web3 loyalty platform, allowing brands to create immersive customer experiences with features like AR treasure hunts, gamified rewards, and customizable crypto wallets for tailored engagement and rewards. Check here for more information: https://lnkd.in/dh_Xfiae #web3 #blockchain #founders #vcfunding #startups #founders #crypto #technology #community #innovation

#USA #America #CryptoWar #Cryptolawgy #CryptoLaw #CryptoRegulations #Update #Walmart #Googleplaybooks #AmazonBook In this issue, we delve into the tumultuous landscape of the crypto space in the United States, at a crucial period marked by fierce legislative battles in the Senate and accusations of regulatory overreach against the SEC. The ongoing chaos in U.S. regulatory actions reveals that the so-called war on crypto is, in fact, a war the U.S. is waging against itself. #OverviewoftheCryptoMarketintheUS The U.S. crypto market is a paradox. It remains one of the largest in the world, with significant adoption rates, despite the regulatory uncertainties. #InterestingFactsAboutCryptointheUS Cryptocurrency in the U.S. has not only been a financial phenomenon but also a political tool. The politicization and weaponization of crypto have seen it become a topic of intense debate. #KeyDataofCryptointheUS Approximately 16% of Americans use or hold cryptocurrencies. The U.S. crypto market capitalization stands at around $2 trillion. #GovernmentCryptopolicy Biden Executive Order of 2022 outlines priorities such as consumer protection, financial stability, and mitigating illicit finance risks while fostering innovation. #CurrentLawsandRegulations The U.S. currently lacks a comprehensive legal framework for cryptocurrencies. The SEC has taken a prominent role, often accused of regulatory overreach and abuse. Legal battles continue to rage with the debate about whether cryptocurrencies should be classified as securities or commodities. #LeadingExchangesandGlobalBans Leading U.S. exchanges like Coinbase and Kraken continue to operate under intense SEC scrutiny. Meanwhile, some global exchanges have faced bans or restrictions. #TheRecentBTCETFandItsImplications The approval of Bitcoin ETFs marks a significant milestone, providing investors with new avenues to gain exposure to BTC. #TheOutcomeoftheRipplevsSECCase The Ripple vs. SEC case has been pivotal, with Ripple arguing that XRP is not a security. The outcome of this case sets a precedent for how other cryptocurrencies are regulated. #Taxation The paradox of taxing cryptocurrencies without clear legal definitions persists. The IRS taxes crypto under the capital gain. #TheFutureofCryptointheUS As the global landscape evolves towards broader adoption and dedollarization, the future of crypto in the U.S. remains uncertain. Legislative clarity and regulatory adaptation are crucial for the U.S. to remain a leader. The battle for crypto regulation in the U.S. is far from over. U.S. crypto users and companies must navigate challenges to harness the potential of digital assets. The race for global crypto regulation leadership is on. #CryptolawgybookintheUS Avaible in the US at various distributors such as Amazon, Walmart, Googleplaybooks, Applebooks in ebook, and paperback versions https://shorturl.at/zrZcR Thank you for your support and happy reading!

In a major blow, a federal appeals court rejected the SEC's reasoning for blocking Grayscale's bitcoin trust from converting to an exchange-traded fund (ETF) Learn more: https://lnkd.in/gPDsJ6JW Follow us for latest news! https://lnkd.in/gV5A3Wvg #Web3 #Blockchain #Crypto #NFT #Metaverse #SecurityToken #Defi #DigitalAsset #STO Founded in 2017, Coinstreet is an award-winning professional advisory and consulting firm in the Digital Asset sector, covering four key business segments including : (1) TOKENIZATION BUSINESS – Digitized Securities & Security Tokens (STO); (2) ASSET MANAGEMENT – Custodian, DeFi, Investment Funds; (3) WEB3, METAVERSE & UTILITY TOKENS – NFT, Stablecoin, Loyalty Tokens; and (4) ECOSYSTEM DEVELOPMENT – Education, Awards, PR, Events, Marketing. Follow us - https://lnkd.in/gV5A3Wvg

🚨 Top Blockchain News of the Week ending November 17th, 2023 🚨 1. The International Organization of Securities Commissions (#IOSCO) — an international regulatory body overseeing global #securities markets — has released its report containing policy suggestions for crypto and digital asset (#CDA) markets. 2. #Binance to start crypto exchange in #Thailand through joint venture with #Gulf Energy. Gulf Binance, the joint venture, will first serve users by invitation with plans to open to the public early next year, the company said in an exchange filing. 3. New York Department of Financial Services issues ‘heightened’ crypto listing and delisting guidance. Heightened #compliance policies set by #NYDFS demand written notifications and strict records for #cryptocurrency listings and delistings. 4. Singapore central bank to trial live wholesale #CBDC for settlements. The Monetary Authority of #Singapore has unveiled its plan to launch a live wholesale CBDC used for settlements by local banks. 5. The U.S. #SEC is delaying a decision on an application by #Hashdex to convert its existing bitcoin futures #ETF into a spot vehicle. The agency has also delayed action on Grayscale's attempt to launch a new futures-based ether ETF. Check here for more information: https://lnkd.in/dYQDnsky

The crypto industry is at a crossroads after the downfall of key players like FTX's Sam Bankman-Fried and Binance's Changpeng Zhao. But with prices rebounding, a new guard of leaders is emerging to shape crypto's future. 💸 Figures like Coinbase's Brian Armstrong now have an opportunity to promote a compliant crypto sector that works with regulators, not against them. And the possible approval of a Bitcoin ETF could bring major new investments into the space. 📈 Yet risks still abound, as many firms peddle experimental products without transparency. And crypto retains an anything-goes ethos that has enabled frauds. So there are open questions about whether the likes of Armstrong can truly transform the industry's culture. 🤔 My view is that for crypto to build lasting public trust, it needs to operate safely within clear government rules, not outside them. But it remains to be seen whether the sector's remaining players and new entrants have the discipline to ensure that vision prevails over get-rich-quick ambitions. The next year will be pivotal. ⚖️ https://lnkd.in/eSMNrWEC #crypto #bitcoin #regulation #compliance #leadership

🚀 Exciting news for the Web3 industry! 🌐📈 The recent federal judge's scathing rebuke of the SEC's approach to crypto is a clear sign that the tides are turning in favor of Web3. 🌊✨ In a rare turn of events, the judge deemed the SEC's reasoning "arbitrary and capricious", opening up opportunities for the entire crypto community. Now, it's up to the SEC to review the original application and potentially pivot towards a more collaborative, innovation-friendly future. 🔄💡 This pivotal moment holds immense potential for the Web3 community, the SEC, and the United States as a whole. ⚖️💪 To dive deeper into the advancement of crypto regulation and unpack the impact it can have on the Web3 industry, check out the insightful Medium article below. 📚👇 Read the full article here: Let's spark a vibrant discussion on the future of crypto regulation and how it can shape the Web3 landscape! Share your thoughts and insights using #Web3 #CryptoRegulation. And don't forget to follow for more updates! 🗣️💬 #Blockchain #ArtificialIntelligence #Innovation #Cryptocurrency #TechIndustry #Web3Era #DigitalTransformation #StayInformed