GSR’s Post

Even one of my North American peers recently asked about registering a business in Europe, moving bitcoins there, and trading inside the EU. This may be early signs of bitcoins leaving US jurisdiction. They could capture something in ETF or corporate treasuries but the rest will move somewhere else, that's for sure. The decision by FDIC to zero collateral value for Bitcoin ETFs will make it less interesting to buy "paper bitcoins," and in the long term, it will contribute to outflow, too. https://lnkd.in/e5bNe6pe

🌟 03/06 #AICoin Highlight News  -  $BTC surged past $69,000, marking a new all-time high after 28 months, later dipped to $59,000. - #BinanceUS faces #SEC scrutiny over customer assets. - U.S. seeks to modify @cz_binance ’s bond ahead of sentencing. - #DoKwon wins appeal against extradition to US to face fraud charges. - #Grayscale introduces a crypto staking fund #GDIF, which initially includes nine blockchains, such as $SOL , $APT , $TIA , and $DOT . - Today's trading volume for spot #BitcoinETF hits $10 billion, hitting a new all-time high. - @DWFLabs will purchase $10 million in #TokenFi to support its development in AI and tokenization. - @ShapeShift settles #SEC charges it sold unregistered crypto securities. - U.S. Arizona Senate advances effort to add #crypto to state retirement funds. - Singapore's #Temasek in discussions to invest in @OpenAI.

🔻 🔻🔻 The impact of an exchange that went bankrupted a long time ago and how confiscated BTC affect the markets these days. 🔻🔻🔻 🔻The recent bitcoin crash is largely attributed to significant sell-offs by Mt. Gox and Germany's Federal Criminal Police Office (BKA). More than ten years after Mt. Gox's bankruptcy, customers are finally receiving some of their $8 billion in bitcoin, with initial payouts starting this month. Simultaneously, the BKA is selling $500 million worth of confiscated bitcoin. These events have created the largest crypto liquidation cascade since the FTX collapse, leading to a sharp decline in bitcoin prices and historic lows for some altcoins as the law of supply and demand suggests. There are surely other reasons as well but it looks like those two at least play a key role for the latest dives. Hence this wave will go thru as well, then let's see. Crypto Valley Journal article in full length: https://lnkd.in/dRHBVYD9 #web3 #digitalassets

☕️ GM! Here are the top news in #Crypto for the past 24 hours 🟠 Fed halts rate hikes for 2nd time, maintaining 5.25%-5.50% range, during inflation fight and economic stability. 🟠 MicroStrategy buys 155 BTC for $5.3M in Oct. as Bitcoin nears $35K. Total holdings now 158,400 BTC, benefiting from recent price rise. 🟠 UK FCA approves PayPal for crypto services; firm enters market, after initially pauseing UK crypto purchases until 2024. 🟠 SEC arrests SafeMoon founders for fraud, SEC charges for misusing millions in investor funds. 🟠 Invesco and Galaxy's Bitcoin ETF (BTCO) appears on DTCC site, no guarantee of SEC approval yet. 🟠 FTX and Alameda wallets move $13.1M in crypto overnight, as part of a phased court-ordered liquidation. 🟠 Coinbase now offers U.S. retail traders crypto futures trading, including smaller-scale 'nano' Bitcoin contracts, after regulatory approval. 🟠 Binance to terminate its partnership with Belize-based Advcash, following its exit from Russia due to legal scrutiny. 🟠 $TON blockchain sets record with over 42M transactions in 12 mins, averaging 108,409 TPS. 🟠 Worldcoin Wallet hits 1M monthly users, 4M downloads, 22M transactions, ranking 6th globally.

Binance To Delist All Spot Pairs Of These Major Crypto Binance, one of the leading #crypto exchanges, revealed its decision to delist all spot trading pairs for BarnBridge (BOND), Dock (DOCK), Mdex (MDX), and Polkastarter (POLS) by July 22, 2024. Notably, this unexpected move has sent ripples through the crypto market, leaving investors and traders in a state of speculation and concern. Here we explore the recent announcement and its potential implications on the cryptos. https://lnkd.in/eevSS-SQ #binance #cryptonews #cryptocurrency #cryptoexchange

This week there was a lot of speculation about additional Bitcoin liquidity coming to the market (especially Mt.Gox repayments), which has put pressure on the prices of Bitcoin and digital assets in general. But where there is shadow, there is also light. Additional liquidity from the repayments of the insolvent crypto exchange FTX could absorb the oversupply of Bitcoin that is expected from the Mt.Gox repayments. The timing is not quite optimal, however. Attached is an article that I saw in May of this year. Still interesting as background information. Nice weekend… #bitcoin #crypto #finance #digitalassets

𝗖𝗿𝘆𝗽𝘁𝗼 𝗹𝗶𝗾𝘂𝗶𝗱𝗮𝘁𝗶𝗼𝗻𝘀 𝗿𝗲𝗮𝗰𝗵 💲𝟱𝟭𝟲𝗠 𝗮𝘀 𝗕𝗶𝘁𝗰𝗼𝗶𝗻 𝗱𝗶𝗽𝘀 𝟳% Panic ensued as #Bitcoin plummeted 7%, leading to over $500M worth of crypto futures liquidations. #ethereum #news #cryptocurrenciesnews #ripple #cryptocurrencies

🤷♂️👉Exploring the Link Between #BTC's 9% Weekly Decline and the Approval of #Spot #BTC-#ETFs🌟 In just two trading days, the net inflow into 10 spot BTC-ETFs reached $0.8 billion. Notably, the largest fund, #GBTC, was the only one to report a loss. Excluding GBTC, the inflow amounted to $1.4 billion. Despite these inflows, BTC's price fell by 9% over the week, dropping from $47,000 to $42,900. How does this mechanism work? 📍 Redemption Mechanisms🔖 Funds offer investors two types of redemptions: in-kind or cash. For BTC funds, an in-kind model would involve sending cryptocurrency directly to investors' wallets upon redemption. This model was proposed by #BlackRock in June. However, the #SEC noted that a cash redemption model is safer. Authorized providers, such as #JPMorgan, organize the buying and selling of #BTC for funds. These operations are not conducted online. Additional #BTCs are purchased either for large investor orders or when the fund trades at a premium to the asset price. Thus, pressure on #BTC price only exists at the moments of fund asset replenishment. For GBTC, which has been trading at a discount for a long time, even a 10% price increase does not impact the BTC market, as #GBTC shares and #BTC in Grayscale's vaults are two different assets. ❗️Why is the Price Falling? 📉 Consequently, when redeeming fund shares, authorized providers sell BTC. According to #JPMorgan's estimates, a large part of the $2.7 billion inflow into GBTC in 2023 could have been aimed at short-term gains from the discount, which has proven effective as the discount fell to zero. Moreover, #BTC has risen by 115% over the last year. Traders and investors may be closing positions at a profit, or stimulating market volatility. 🔎 Conclusions🔑 The influx of large money into BTC-ETFs is not limited to two days. Buying fund shares before weekends, in the context of limited access from investment firms for clients, complicates the process. Key is the SEC's decision, which remains meaningful and unaffected by BTC's weekly correction.

🚨 Here at Satori Research we monitor thousands of large scale crypto transactions daily. 🐳 Over the last few weeks, we have noticed significant movements of whale wallets. Large transfers of #BTC, #USDT, #ETH and other altcoins between wallets and exchanges picked up in speed and intensity. 📍 Fact: #MtGox, the crypto exchange that was hacked in 2014 announced it would repay its creditors 142k #BTC. This news is causing jittery amongst crypto investors. Paper hands capitulated, short term speculators went short. 📍 Little known Fact: The full amount of #BTC will not be hitting the market at the same time. Over the last decade, some of the accounts were syndicated out to astute investors. Furthermore, 💎 🙌 diamond hand hodlers who have been holding on to their position the last 10 years would NOT be selling BTC the very day Mt. Gox estate repays them (#BCH ? maybe) (Yours truly was the COO of a regulated Japanese exchange when Mt Gox repayment discussions started nearly 6 years ago) ❓So what If you’re a believer of #Bitcoin, be #consistent. #Crypto is an extremely volatile but equally rewarding asset class. Learn how to size and manage your risk properly. Understand the dynamics, flow and market structure. If you can’t stomach a 25% retracement, reduce your position by half. If your portfolio cannot withstand a 30% mtm drawdown, you would surely miss the 300% upside. Buy the dip, and sell the rip. 🐂 Bulls make money 🐻 Bears make money But pigs get slaughtered 🐷 ❌ Don’t be a pig. Goodluck!

BlackRock Inc., Ark and several other prospective issuers of exchange-traded funds investing directly in Bitcoin in the US filed amended forms for their applications on Monday with the Securities and Exchange Commission. Fidelity, Invesco and Galaxy Digital and WisdomTree were among other firms that filed amended S-1 applications with the SEC. The regulator has until Jan. 10 to take action on at least one of their applications, and crypto insiders have speculated the regulator will use that date to announce a slew of decisions at once. Bitcoin reversed earlier losses after the amended filings, rising as much as 1.7% to $45,026 as of 7:07 a.m. in New York. There are two technical requirements that must be fulfilled before a spot-backed Bitcoin ETF can start trading. First, the SEC must sign off on so-called 19b-4 filings by the exchanges that would list the ETFs. Second, the regulator must approve the relevant S-1 forms, which are the registration applications from the would-be issuers. The SEC is planning to vote on the exchanges’ filings, the 19b-4s, in the coming days, Bloomberg News has reported. The regulator may or may not then take action on the issuers’ applications, the S-1s, around the same time. If the SEC grants both sets of required approvals, the ETFs could start trading as soon as the next business day. An SEC representative earlier declined to comment on the status of the applications. #crypto #cryptocurrency #cryptocurrencies #cryptoinvestor #investing #investment #blackrock #btc #bitcoin #eth #etherium #latest #trending #fyp