Bitcoin Price (BTCUSD) Sinks on Rate Hike Concerns, SEC's Crypto Scrutiny - cyptoranking.com

2024-05-06

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The Dow rose 134.65 points (0.4%), to 33,739.30. The S&P 500 gained 22.58 points (0.5%), reaching 4,358.24. The Nasdaq climbed 78.61 points (0.6%), ending the day at 13,562.84. Token unlocks can temporarily depress crypto prices, but when liquidity freed represents over 100% of daily volume, prices rebound briefly before falling further within two weeks, according to research by The Tie previously reported by CoinDesk. Bitcoin Price (BTCUSD) Sinks on Rate Hike Concerns, SEC's Crypto ScrutinySource: PexelsThe Israeli police cyber unit have frozen cryptocurrency accounts used by Hamas to raise donations via social media, Jerusalem Post reported. This action comes as part of a broader effort to curb the flow of funds into the hands of the terrorist organization, especially during times of conflict.The cyber unit's investigation revealed that Hamas had initiated an online fundraising campaign with the outbreak of the recent conflict, urging the public to deposit cryptocurrencies into its accounts. These funds were likely intended to support its activities. The Israeli police cyber unit, in collaboration with the National Headquarters for Economic Warfare, swiftly located and froze these cryptocurrency accounts. Authorities asked Binance to facilitate the process of withdrawing the seized funds into the state treasury.The Israeli cyber unit, known as Lahav 433, also worked closely with the UK police to freeze an account held at Barclays Bank.The unit's efforts extend beyond this operation, as it continues to actively search for financial infrastructures in cryptocurrencies used by terrorist elements.Web3 Community Launches Crypto Aid IsraelAmid the ongoing conflict in Israel, the country's crypto and Web3 communities have come together to establish "Crypto Aid Israel." This initiative aims to raise funds to support Israeli citizens who have been displaced and are in need of humanitarian aid due to the escalating conflict with Hamas.Crypto Aid Israel has set up a multi-signature wallet, controlled jointly by multiple parties, to accept donations denominated in various cryptocurrencies, including Bitcoin (BTC), Ethereum (ETH), and dollar-linked stablecoins such as USDT and USDC. Several Israeli banks and regulators have also stepped in to facilitate the flow of these crypto donations, potentially providing a bridge between crypto assets and traditional banking channels.To ensure the secure management of these cryptocurrency assets, the initiative has enlisted the expertise of Fireblocks, a specialized crypto safekeeping firm. They have implemented a strict policy that mandates the consensus of at least four out of seven signatories to authorize the movement of funds out of the wallet, ensuring a secure and transparent process.Members of the alliance supporting Crypto Aid Israel include prominent entities like Fireblocks, MarketAcross, Collider Ventures, CryptoJungle, and the Israel Blockchain Association.Hong Kong Police Issues Warning After Binance Users Lose $450K in Phishing Scams Users of decentralized exchanges do not need to transfer their assets to a third-party mediator, eliminating the risk of a company or organization being hacked.

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South Korea’s Crypto Marketplace Operators Report 82% Increase in Profits Different variants were created for the CryptoNight algorithm, and CryptoNight Heavy is one version of the hashing algorithm. It is implemented in various cryptocurrency projects, including Ryo Currency, Sumokoin and Loki. Is currency hedging a derivative?A 🧵 of key differences between Pirates (our F2P collection) and Founder's Pirates (our genesis collection). As Blinky Token Goes Viral After 500% Surge, Crypto Experts Say This Lesser Known Crypto is Next to Pump – Here's Why

Further Considerations Streamline Current Payment Systems Best Cryptocurrency Mining Software in 2023: Compare 50+People often get confused and interchange blockchain and Bitcoin. The thing is that Bitcoin merely uses blockchain to transparently record a ledger of payments. However, blockchains can, in theory, be used to immutably record any number of data points in the form of transactions, product inventories, deeds to properties, and more (See Blockchain Use Cases). The attempt was successful.

On the other hand, in Proof of Stake, the validator is randomly chosen based on how many coins they have locked up in the blockchain network, also known as staking. This process is energy-efficient and provides fast and cheap transaction processing. Valkyrie Investments receives SEC approval to launch the first Ethereum futures ETF in the United States.Photo by Zoltan Tasi on UnsplashToday, Nashville-based asset management firm Valkyrie Investments secured approval from the U.S. Securities and Exchange Commission (SEC) to launch the first-ever exchange-traded fund (ETF) for Ethereum futures. This could mark an important milestone for digital asset investment in the United States.The SEC's decision comes as the regulatory body is slowly opening up to the crypto market. In October 2021, the SEC allowed the trading of Bitcoin ETFs priced off futures contracts. Valkyrie Investments is now part of a select group of firms that offer crypto-related ETFs, building on its existing Bitcoin Mining ETF.Rising Competition in the Ether ETF SpaceValkyrie Investments is not alone in its pursuit of establishing Ethereum futures ETFs. Eight other issuers, including VanEck, Grayscale Investments, and Bitwise, have filed applications with the SEC. These firms look to capitalize on the growing demand for Ethereum, which currently holds the title of the world's second-largest digital asset.Beyond Ethereum futures ETFs, Valkyrie Investments, along with Wall Street giants like BlackRock and Fidelity, is also exploring the possibility of introducing a spot Bitcoin ETF. A spot ETF would enable a broader array of investors to gain exposure to Bitcoin's spot price instead of its future value, which is currently only accessible to accredited investors. So far, the SEC has been hesitant to approve this type of ETF, citing regulatory concerns.Accelerated Approval Amid Government Shutdown ConcernsInterestingly, Valkyrie had initially planned to roll out its fund on October 3. However, concerns over a potential U.S. government shutdown prompted the SEC to fast-track the approval process for Ethereum futures ETFs. If Congress fails to agree on funding, the government could cease most operations, affecting nearly two million federal workers and possibly disrupting SEC activities.Valkyrie's Chief Investment Officer, Steven McClurg, expressed satisfaction with the SEC's decision in an interview with Fox Business. "We are thrilled to be the first to offer ether futures to our investors as interest in the asset has grown exponentially over the past year," he said.The firm plans to convert its existing Bitcoin futures ETF into a combined fund offering both Bitcoin and Ethereum futures, with trading set to begin today.The SEC's accelerated approval timeline also hints at the agency's attempt to maintain market stability in case of a government shutdown. Earlier this week, the SEC delayed decisions on other spot Bitcoin ETF applications, including one from Ark 21Shares, a fund owned by tech investor Cathie Wood.On the legislative front, SEC Chairman Gary Gensler urged companies planning to go public to expedite their efforts before a possible government shutdown. A shutdown would force the agency to operate with a reduced workforce, affecting its ability to oversee the markets and public offerings.The SEC's approval of Valkyrie Investments' Ethereum futures ETF represents another step toward the maturation of the crypto market in the U.S. While the SEC remains cautious, particularly concerning spot ETFs, it has shown a willingness to accommodate futures-based products. With other firms lining up to offer similar products, competition in the Ether ETF space is bound to intensify.US SEC Would Likely Let Ethereum Futures ETFs Go Live Next Week: Bloomberg Intelligence Analyst Unlisted Cryptocurrencies💰 In former FTX CTO Gary Wang’s bombshell testimony, he revealed that Alameda had a $65 billion line of credit on FTX. @brianeklein and Sam Enzer explain why that number is a “devastating” fact for the defense.🔊Full episode: https://t.co/DGrLC50h66 pic.twitter.com/KNM6Zkqbva— Laura Shin (@laurashin) October 9, 2023 On Oct. 5, the chain filed a lawsuit against a crypto platform called “Trader Joe” and its co-founder Cheng Chieh Liu, alleging that they intentionally chose a name similar to the supermarket’s.

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