Monthly Archives: August 2021

Vaneck Files for Bitcoin Futures ETF Following SEC Chair’s BTC Futures Regulation Statements

Following a number of statements this week from the U.S. Securities and Exchange Commission’s (SEC) Gary Gensler, wealth management firm Vaneck has filed for a bitcoin futures exchange-traded fund (ETF). Vaneck Files for a Bitcoin Futures-Focused Fund Called the Bitcoin Strategy ETF On August 10, the wealth manager Vaneck filed an application with the SEC in order to list the “Bitcoin Strategy ETF,” a fund that seeks “capital appreciation.” The fund will be an actively managed ETF that leverages bitcoin futures, pooled investment vehicles, and other ETFs […]

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Chinese Crackdown Allow North American Miners To HODL More Bitcoin

Since China started cracking down on bitcoin mining, North American miners have enjoyed lower difficulty to mine and HODL more BTC. ​In July, North American bitcoin miners have enjoyed a bigger bitcoin production without meaningful increases in hash rate capacity. Five publicly listed firms mined a combined total of 1,802 BTC that month, a 58% average increase over June. The production update statements released by each of the five miners, Marathon, Argo Blockchain, Bitfarms, Hut 8, and Riot Blockchain, detail their unusually productive month in July. Without […]

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Coinbase beats earnings estimates as analysts say regulation will ‘stifle’ innovation

COIN exceeded earnings estimates but analysts caution that blanket crypto-sector regulation will “stifle innovation” and possibly cast a shadow on Coinbase’s growth. Coinbase Global (NASDAQ: COIN) rebounded during the early trading hours on Aug.11 after it beat Wall Street forecasts for sales and revenues in the second quarter. The cost to purchase one COIN share surged 4.7% to $282.34 at the New York opening bell. Later, bids for the COIN rose to as high as $294 before pulling back to its current price at $279.72. Coinbase stock […]

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Digital insurer Metromile follows through with $1M Bitcoin purchase

In May, the company said it intended to allocate $10 million towards Bitcoin in the second quarter of 2021. San Francisco-based technology firm Metromile has used 10% of the funds it previously said would be allocated towards crypto to buy Bitcoin. According to an Aug. 10 filing from the U.S. Securities and Exchange Commission, or SEC, Metromile reported it had purchased $1 million in Bitcoin (BTC) in June. However, the firm recorded a loss of $100,000 in the original crypto buy, holding roughly $900,000 in Bitcoin as […]

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Broker licensing for US blockchain developers threatens jobs and diversity

Lower socio-economic groups will be excluded from the blockchain industry if United States lawmakers approve the infrastructure bill. United States lawmakers will soon destroy a massive opportunity for job creation and a diverse workforce in blockchain technology if they do not amend infrastructure bill HR 3684, which would require blockchain developers to attain broker status on U.S. soil. HR 3684 does not recognize the taxonomy of the asset class. Not every crypto asset falls under the definition of security — many are transactional tokens and used as […]

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Will the Real Polygon Please Stand Up — Spammers Wrongly Post Coin Drops on Video Game-Related Feed

In a strange twist of fate, two companies named Polygon are the source of a storm of confusion on Twitter as a video game community gets a unique introduction to Polygon’s blockchain technology. Crypto Scammers Hit Game-Related Feed Polygon, the rebranded layer 2 blockchain solution (previously Matic Network), has been mixed up with another identically named organization. This case of mistaken identity has caused some perplexing activity on Twitter as spammers and scammers highlight a “coin drop” to an online American video gaming website named Polygon that […]

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Crypto market cap returns to $2T for the first time since May

Bitcoin dominance is falling again as Ether rises and altcoins look to regain momentum. The total value of all cryptocurrencies in circulation — a major bellwether for the health of the overall market — reached $2 trillion on Wednesday for the first time in almost three months, offering compelling evidence that buyers are back in control.  Measured by market capitalization, digital asset values peaked at $2.007 trillion on Wednesday, according to data provided by Coingecko. Over the past 24 hours, the digital asset class has risen by […]

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Altcoins soar while Bitcoin bulls gather strength to attack $48,000

WINk, DENT and IOTX notched triple-digit gains as Bitcoin’s bullish momentum extends to the wider crypto market. The cryptocurrency market charged full steam ahead on Aug. 11 as the price of Bitcoin (BTC) climbed to $46,743 and bulls are now taking aim at the $48,000 resistance level as the next target.  Data from Cointelegraph Markets Pro and TradingView shows that the biggest gainers over the past 24-hours were IoTeX (IOTX), WINk (WIN) and Dent (DENT). Top 7 coins with the highest 24-hour price change. Source: Cointelegraph Markets […]

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The metaverse: Mark Zuckerberg’s Brave New World

Mark Zuckerberg attempts to create his own metaverse that would result in ever more centralization, leading to a dystopian future. If Facebook happened to be a human being, where would he/she/they currently be? Most likely in prison… for a very long time. The company’s transgressions are too numerous to list. But Facebook is not human; it’s a company, and a very profitable one, at that. In fact, it’s now one of the most profitable companies in the world. Facebook’s market capitalization has recently surpassed the $1 trillion mark. When […]

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$400B investment manager Neuberger Berman will allow crypto exposure through commodity-focused fund

The firm reported the fund had more than $164 million in assets under management as of July 31, roughly 0.04% of its total AUM. New York-based investment management firm Neuberger Berman has filed for a commodity-focused fund to be able to gain indirect exposure to crypto investments.  In a filing with the Securities and Exchange Commission today, the investment firm said its Commodity Strategy Fund would allow investors to have indirect exposure to cryptocurrencies and digital assets through Bitcoin (BTC) and Ether (ETH) futures, as well as […]

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