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new york CNN — Crypto assets soared in value on Tuesday after a U.S. court approved the creation of the country's first bitcoin exchange-traded fund. The ruling marks a milestone for crypto investors and a setback for the Securities and Exchange Commission, which has sought to regulate the digital asset industry. Three judges on the DC Court of Appeals The Commission reversed the SEC's decision to deny permission for Grayscale Investments to launch a Bitcoin-focused ETF. The reason for the refusal was not fully explained Company applications. “The Commission's rejection of Grayscale's proposal was arbitrary and capricious because it failed…
by: Raj Paul, Gregory Disher, Mike Nonaka (Covington & Burling) The latest information in the digital asset industry Despite the decline in enthusiasm in the trading market over the past few years, we have seen innovation and progress in all areas of cryptocurrencies. Layer 2 scaling solutions for Ethereum and Bitcoin blockchains, improvements to cryptocurrency mining equipment, new applications for non-fungible tokens (NFTs), decentralized finance (DeFi) protocols, decentralized autonomous organizations (DAOs), and more. The universe continues to flourish. Just to name a few. As discussed in a previous article, open source innovation has always been a key element in the…
JPMorgan predicts that the recent decline in the crypto market will come to an end, with the downside limited and potentially stabilizing in the short term. The recent downturn in the crypto market appears to be nearing an end, according to new analysis from JPMorgan Chase & Co. The company claims that the liquidation of long positions in the crypto world has largely been resolved, and further sharp declines are unlikely. Although there are still repercussions, recent movements in the crypto market suggest that the market's unwinding phase is nearing an end. Open interest in Bitcoin (BTC) futures contracts traded…
According to the latest PMI survey data, business activity in the euro area contracted at an accelerating pace in August as the euro area's economic downturn spread further from manufacturing to service industries. Both sectors reported declines in output and new orders, but the goods producing sector had a much steeper rate of decline.Employment has come close to stalling, with the latter falling to its lowest level so far this year as companies are reluctant to expand capacity amid weak demand and a bleak outlook for next year.Inflationary pressures remained much lower than they have been for much of…
Large silver trailers are lined up in a grid pattern Sitting on asphalt on the west bank of the Susquehanna River near Berwick, Pennsylvania, it may not seem like much at first glance. A giant nuclear reactor cooling tower looms above them, belonging to the Susquehanna Steam Power Plant and next to a web of energy-generating infrastructure. But inside those trailers are about 8,000 mining rigs, or supercomputers, designed to run the algorithms needed to mine Bitcoin, and a variety of other activities take place. The rigs make up Nautilus Cryptomine, which became partially operational in March and aims to…
The latest information in the digital asset industry Despite the decline in enthusiasm in the trading market over the past few years, innovations and advances have been seen in all areas of cryptocurrency.[1] Layer 2 scaling solutions for Ethereum and Bitcoin blockchains, improved cryptocurrency mining equipment, new applications for non-fungible tokens (NFTs), decentralized finance (DeFi) protocols, decentralized autonomous organizations (DAOs), and more. The universe continues to flourish. I'll list a few.[2] As previously discussed, open source innovation is a tenet of the crypto industry and the underlying blockchain technology that powers it, but companies working on this technology should consider…
Payments giant PayPal announced on Wednesday that it will temporarily suspend purchases of cryptocurrencies in the UK until early 2024, citing stricter regulations from the country's financial regulator.The company said customers who previously purchased crypto assets through their PayPal account can keep them on the platform or sell them at any time. However, new purchases will no longer be possible after October 1st.PayPal said in a statement: “We are taking this action in response to new rules set by the UK Financial Conduct Authority (FCA) that require crypto companies to take additional steps before customers can purchase cryptocurrencies.” said.”We remain…
What is Monero (XMR) cryptocurrency? Cryptocurrency is growing in popularity. These are decentralized virtual currencies or digital currencies that can be used for transactions and spending using blockchain technology. Many are aimed at improving privacy and anonymity, and their success is unpredictable. Some of these currencies allow public viewing of all transactions, while others make privacy optional. Still, some keep privacy features strictly implicit. When most of us think of cryptocurrencies, Bitcoin is usually the first thing that comes to mind. It was one of the first of its kind to use peer-to-peer technology to allow users to make payments…
As 2022 drew to a close, Binance co-founder and chief executive Changpeng Zhao appeared to have the world at his feet.Sam Bankman-Fried, co-founder of Binance’s biggest rival FTX, went to Zhao in November last year hoping the Binance chief would bail out his own exchange. Zhao declined, sealing FTX’s fate. On November 10, one day before his crypto empire filed for bankruptcy, Bankman-Fried tweeted his competitor: “Well played; you won.”The collapse of its biggest rival left Binance the undisputed leader in digital assets, controlling more than half of the fast-evolving cryptocurrency market by the end of 2022. If Binance could…
The new ZK research by a16z marks a notable milestone for the venture, which has taken a more active role in recent years. Developing some core technologies Keep up with venture-backed companies. These projects are also the company's first foray into deep technology research, highlighting the company's growing influence over the technology it funds.The team's first project, Lasso, proposes a new way to speed up ZK systems. The project's white paper was co-authored by Microsoft researcher Srinath Setty and Carnegie Mellon University computer science professor Riad Wahby, along with his colleague Justin Thaler of a16z. The team released his Lasso…