The federal government shutdown in the US could disrupt the long-awaited spot ETF approval process in the cryptocurrency market. The Securities and Exchange Commission (SEC) added to the uncertainty by announcing that it will not conduct activities during the shutdown. The SEC announced in an official statement that it will not review or approve new
Strategy, the world’s largest corporate holder of Bitcoin, is no longer anticipating a multi-billion tax liability from an increase in the value of its $75 billion stockpile, following a clarification from the IRS and Treasury Department on Tuesday. In a 71-page document, the regulators said that firms are not required to incorporate unrealized gains or
Cryptocurrencies are having an explosive start this month, with $70 billion added to the overall crypto market capitalization in under 30 minutes on Wednesday, October 1. More precisely, the total value was sat at $3.87 trillion at around 10:25 AM CET (8:25 AM UTC), only to go up to $3.94 trillion at approximately 10:55 AM
The US government shutdown is threatening to be a long one, which may cause rating agencies to downgrade the nation’s credit. This bearish signal would cause chaos for TradFi, but a possible opportunity for Web3. Specifically, agencies warned that further deadlock could damage the US’s credit rating. Prediction markets are currently rather confident that this
Key Takeaways GiveDirectly is administering a New York pilot that distributes $12,000 in stablecoins to low-income young adults, funded by Coinbase. The program targets low-income young adults in New York, selected by lottery. A pilot program in New York is providing $12,000 in stablecoins to low-income residents through Coinbase funding, administered by the nonprofit GiveDirectly.
Now’s as good a time as any to talk crypto ETFs as more US launches are imminent (even with the latest government shutdown). The anticipated boom of both single-asset and index offerings is set to expand the investor base entering the crypto asset class, industry watchers say. How do we know we’re set to see
Lava, a bitcoin-focused financial services startup, announced on Wednesday that it has raised $17.5 million in new funding while also launching a lending product offering yields on US dollars. In a post on X, the company said its platform allows users to fund overcollateralized loans secured entirely by bitcoin (BTC), with lenders earning up to