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Crypto News Updates: After dragging its heels on approval of a spot Bitcoin exchange-traded fund (ETF), the US Securities and Exchange Commission (SEC) has given its blessing to Bitcoin ETFs. The industry has taken the SEC’s nod as a major sign of encouragement, with the global crypto market cap surging nearly 4% to $1.77 trillion over the last 24 hours.
Bitcoin prices surged to hit $49,000 during the day amid the rally on SEC approval. Other cryptocurrencies also surged in the broader market footsteps. At the time of writing, Bitcoin traded stood at $46,135, being over 1.5% up in the last 24 hours.
Meanwhile, the U.S. core CPI rose to 3.4% for the 12 months ending December, a larger increase than the 3.1% increase for November. The steep increase in inflation is now fanning concerns that the Fed might not start cutting rates as quickly as anticipated.
Elsewhere, Near Foundation, a nonprofit that fosters the Near ecosystem, said that it will lay off almost 40% of its staff. The company plans to slack jobs of around 35 employees. Sections like marketing, business development, and community teams will likely see these job cuts.
Crypto News LIVE: Vanguard Blocks Clients from Buying Bitcoin ETFs
Vanguard is blocking its clients from buying spot Bitcoin ETFs on their platform saying that it goes against their motive.
*VANGUARD SAYS IT HAS NO PLANS TO OFFER BITCOIN ETFS OR CRYPTO PRODUCTS; SPOKESPERSON SAYS 'HIGH VOLATILITY RUNS COUNTER TO OUR GOAL OF HELPING INVESTORS GENERATE POSITIVE REAL RETURNS OVER THE LONG TERM' – THE BLOCK PRO
— The Block Pro Headlines (@theblockupdates) January 11, 2024
Crypto News LIVE: Bloomberg Sees Wall Street Gearing Up For Next Phase in Digital Assets
Bloomberg expects Wall Street gearing up for the next phase in digital asset evolution: options. As the first exchange-traded funds for cryptocurrencies start trading, the next step in already in pipeline.
Cboe Global Markets Inc., the biggest options exchange in the world, has already submitted a request for permission to provide options linked to exchange-traded products that contain Bitcoin.
Crypto News LIVE: Whale Movement Sees $50 Million Being Transferred to Unknown Account
Amid a upbeat session in the market, USDC word $50 million were transferred into an unknown wallet.
Crypto News LIVE: Microsoft Surpasses Apple to Have the Largest Market Cap: Reuters
On Thursday, Microsoft surpassed Apple to become the most valuable corporation in the world, according to a report by Reuters.
Microsoft, situated in Redmond, Washington, had a 1.6% increase in shares last week, valuing the company at $2.875 trillion. This increase was mostly due to investors being drawn in by Microsoft’s early advantage in the race to profit from generative artificial intelligence.
Crypto News LIVE: SEC Faces Scrutiny From the Republican Block Over Fake Approval Post
Post the “real” approval of Bitcoin ETFs, the Securities and Exchange Commission is being grilled by House Republicans over what went wrong when a bogus post regarding the approval of spot bitcoin ETFs was released on the agency’s X account earlier this week.
House Republicans demand answers from the SEC about false post on X https://t.co/mL9fjrzep6
— The Block (@TheBlock__) January 11, 2024
Crypto News LIVE: VanEck Releases New Commercial For Bitcoin ETF
VanEck on Thursday released a new commercial for its Bitcoin ETFs. The commercial mainly emphasized on VanEck’s message that “Bitcoin may help guard against the government devaluing your money”.
JUST IN: VanEck releases new spot #Bitcoin ETF commercial.
"Bitcoin may help guard against the government devaluing your money." 👀
— Bitcoin Magazine (@BitcoinMagazine) January 11, 2024
Crypto News LIVE: Around $1.5 Billion Bitcoin ETFs Trade in First Hour Post Bell
Around $1.5 billion spot Bitcoin ETFs have traded in the first hour of trading, according to Yahoo Finance.
Crypto News LIVE: Ethereum's Price Take a Flight Amid High Hopes for an SEC-Approved ETF
Ethereum’s price is rising significantly, which is causing the cryptocurrency market to become quite optimistic. The U.S. Securities and Exchange Commission (SEC) is expected to approve a spot Ethereum Exchange-Traded Fund (ETF), which is the main cause of this increase in value.
Crypto News LIVE: Bitcoin ETF Trading Volume Surpasses $500 Million Mark
The trading volume of Bitcoin spot ETFs, like IBIT and FBTC, has topped $500 million in just 20 minutes after opening, according to Bloomberg ETF expert Eric Balchunas.
Bloomberg ETF analyst Eric Balchunas said that in just 20 minutes after opening, the trading volume of BTC spot ETFs such as IBIT and FBTC has reached $500 million, of which IBIT trading volume reached $293 million and is expected to exceed $1 billion, and FBTC reached $156…
— Wu Blockchain (@WuBlockchain) January 11, 2024
Crypto News LIVE: Bitcoin Hit $49K Mark
Bitcoin hit its much awaited $49,000 mark, hitting highest since December 2021. The milestone comes after the SEC approval and commencement of Bitcoin ETF trading.
Crypto News LIVE: Former Customers of FTX Deamnd Change in Repayment Method
According to Bloomberg reports, US judge is being pressured by some former clients of the defunct cryptocurrency company FTX Trading Ltd. to alter the terms of their repayment, claiming that the regulations as planned unfairly exclude them from a year-long increase in the value of Bitcoin and other digital currencies.
Crypto News LIVE: Inflation Rises in the U.S., CPI Up in December
U.S. core CPI rose to 3.4% for the 12 months ending December, a larger increase than the 3.1% increase for November. The steep increase in inflation is now fanning concerns that Fed might not start cutting rates as quicky as anticipated.
Crypto News LIVE: Daily Trading Volume for Bitcoin Increases
As traders get ready for the opening of the US market, daily trading volume for Bitcoin increases across cryptocurrency exchanges.
Crypto News LIVE: Circle Confidentially Files for IPO
USDC issuer Circle on Thursday confidentially filed for an initial public offering.
Crypto News LIVE: Near Foundation to Lay Off 40% of Its Staff
The Near Foundation, a nonprofit that fosters the Near ecosystem, said that it will lay off almost 40% of its staff. According to a statement released today by Near Protocol co-founder and Near Foundation CEO Illia Polosukhin, 35 employees will be affected due to the job cuts, mostly in the marketing, business development, and community teams.
Near Foundation to cut staff by 40%, says treasury 'remains strong' https://t.co/FjopKJtueT
— The Block (@TheBlock__) January 11, 2024
Crypto News LIVE: Cathie Wood Reveals 25% of Her Investment is in Bitcoins
In an interview Cathie Wood claims that “at least 25%” of her total wealth is in Bitcoins.
BREAKING‼️ Cathie Wood says "At least 25%" of her financial net worth is in #Bitcoin pic.twitter.com/Z0RGP6TDYc
— Bitcoin Archive (@BTC_Archive) January 11, 2024
Crypto News LIVE: Bitcoin as a Payment Method is Inefficient: BOE Governor
Taking a jib at Bitcoin, Bank of England’s governor said Bitcoin is not taking off as a financial service because “using Bitcoin as a payment method is pretty inefficient.”
Crypto News LIVE: South Korea Stands Against Virtual Assets Despite U.S. SEC's Landmark Judgement
Despite the historic judgement from the SEC, South Korea is still reluctant in accepting a legalization and regularization of digital assets. The country’s is taking a strong stance against crypto currencies siting reasons like money laundering, illegal outflows etc.
Crypto News LIVE: Ethereum Co-Founder Suggests 33% Increase in Block Gas Limit
Co-founder of Ethereum Vitalik Buterin expressed support for raising the block gas limit, which might expand the network’s capability.
When asked about the safe increment of the gas limit during a Reddit ask-me-anything session, Buterin suggested a 33.3% increase, suggesting that the Ethereum block gas limit be raised from its current 30 million to 40 million units of gas.
Crypto News LIVE: Stocks Related to Cryptocurrencies Surge Pre-Market
Stock related to crypto currencies surged tremendously in early market trade after the SEC gave a green signal to the Bitcoin ETFs. According to Bloomberg, CoinBase has advanced over 5%, adding to 250% annual surge.
Crypto News LIVE: BlackRock's Bitcoin ETF Jumps 25% In Pre-market Hours
In a post-SEC-approval rally, BlackRock Spot Bitcoin ETF (IBIT) witnessed a remarkable 25% surge during its inaugural pre-market trading on Thursday, January 11. The substantial increase signals heightened enthusiasm within the crypto market, showcasing the growing interest and confidence among investors in Spot Bitcoin ETFs following regulatory approval.
Crypto News LIVE: India's Central Bank Warns of Crypto Risks, Advocates for CBDC Innovation
Shaktikanta Das reiterates the Indian Central Bank’s cautious stance on cryptos, citing significant risks for emerging and advanced economies. Emphasizing the lack of underlying value in cryptocurrencies, he highlights the potential threats to macroeconomic stability. However, Das underscores the advantages of the CBDC or e-rupee, citing its programmability for targeted cash transfers. The RBI plans CBDC pilots in new wholesale segments and explores cross-border transactions via UPI, showcasing a strategic focus on digital innovation.
Crypto News LIVE: More Moolah For Ether Classic Traders As Price Rallies 32%
Ethereum Classic (ETC) has witnessed a dramatic surge in its prices after the US SEC gave the nod to spot Bitcoin ETFs. At press time, ETC price stood at $27.74, up 32% over the last 24 hours, while its market cap zoomed to over $4 billion.
Crypto News LIVE: Grayscale Garners Praise From Coinbase Execs For Clearing Path For Spot Bitcoin ETFs
Spot Bitcoin exchange-traded funds (ETFs) would not have seen the light of day if it weren’t for the efforts of Grayscale Investments, according to Coinbase executives. Taking to X on Wednesday, Coinbase CEO Brian Armstrong hailed Grayscale for clearing the path for Bitcoin ETFs following its court victory.
Crypto News LIVE: Robinhood To Allow Trading of Spot Bitcoin ETFs
Trading app operator Robinhood will soon begin offering spot bitcoin exchange-traded funds. The announcement was made by Robinhood CEO Vlad Tenev just hours after the US SEC cleared applications of 11 spot Bitcoin ETF applicants.
Crypto News LIVE: Bitwise Pledges 10% of BTC ETF Profits to Bitcoin Development
Asset Management giant Bitwise has vowed to donate 10% of profits accrued from its spot Bitcoin exchange-traded fund towards the development of the Bitcoin network. This follows a similar announcement by VanEck, which plans to donate 5% of its ETF profits to Bitcoin developers.
Crypto News LIVE: Spot Ethereum ETF Approval Odds Raised to 70% by Bloomberg Analyst
With the US SEC clearing 11 spot Bitcoin ETF applications on Wednesday, analysts now expect spot Ether ETFs to get approved this year. Bloomberg ETF analyst Eric Balchunas puts the odds of spot Ether ETF being approved by May at 70%. Note that SEC has set a May deadline for approval of a flurry of spot Ether ETF applications.
New deadline to obsess over just dropped
May 23rd is the final deadline for decision on VanEck’s spot ETH ETF pic.twitter.com/dgi5EVbPeQ
— Will (@WClementeIII) January 10, 2024
Crypto News LIVE: Ethereum and Altcoins Get Rocket-Fuel Boost After Bitcoin ETF Approval
The US securities watchdog has finally approved spot Bitcoin exchange-traded funds. While Bitcoin saw subdued ascent following the SEC nod, the second largest crypto, Ethereum, and other smaller tokens registered significant gains. Ether was up nearly 10% over the last 24 hours, while Cardano rose over 12%.
Crypto News LIVE: CoinGecko Suffers Major Security Breach
Cryptocurrency data aggregator CoinGecko was comprised on Wednesday by outside parties to promote a phishing scam. Hackers reportedly posted a fraudulent link to mislead investors, promising a CoinGecko token airdrop, but the post has since been removed and users have been warned against engaging in suspicious content.
Crypto News LIVE: Cathie Wood Takes Dig At SEC Chair Gary Gensler
Ark Investment CEO Cathie Wood on Thursday took a swipe at SEC Chair Gary Gensler who distanced himself from Bitcoin and the overall crypto ecosystem after the agency cleared nearly a dozen spot Bitcoin ETF applications. After Gensler said the approval should not been seen as an endorsement of Bitcoin, Wood slammed the SEC chief, saying his comments were detrimental to innovation in the crypto space.
Crypto News LIVE: Back To Back Court Losses Drove SEC To Approve Bitcoin ETF, Says Ripple Exec
The US SEC’s decision to approve spot Bitcoin exchange-traded funds (ETFs) may have been informed by the agency’s string of court losses against crypto firms, according to Ripple Chief Legal Officer Stuart Alderoty. The federal regulator was dealt a major blow in its fight against Ripple and Grayscale Investments last year.
Crypto News LIVE: US SEC Approves Spot Bitcoin ETFs, Grayscale Biggest Winner
The US securities watchdog has given its blessing to spot Bitcoin exchange-traded funds (ETFs), with Grayscale Investments emerging as the biggest winner. While the SEC was quick to reject Grayscale’s proposal of converting the Grayscale Bitcoin Trust (GBTC) into a spot Bitcoin ETF, a federal judge ruled that SEC was “arbitrary and capricious” in its rejection, and ruled in favour of Grayscale, opening the door for other ETF hopefuls.
Crypto News LIVE: Elon Musk Hails Bitcoin After SEC Approves Spot Bitcoin ETF
Billionaire Elon Musk on Wednesday signalled his willingness to use Bitcoin in the backdrop of the approval of spot Bitcoin ETFs in the US.
