🚀 German Lawmaker Highlights Bitcoin's Potential To Combat Inflation
#GermanLawmaker #Bitcoin #Inflation #JoanaCotar #CryptoEconomy #FinancialStrategy #BTC
According to Odaily, German parliament member Joana Cotar has emphasized that a proper Bitcoin strategy holds the potential to transform a nation. Cotar pointed out that inflation effectively 'steals money' from people every month, and Bitcoin could offer a solution to this issue.#GermanLawmaker #Bitcoin #Inflation #JoanaCotar #CryptoEconomy #FinancialStrategy #BTC
🚀 Murad Achieves Significant Profit From SPX Investment
#Murad #SPX #Investment #Profit #Blockchain #Cryptocurrency
According to Odaily, monitoring data from Lookonchain reveals that Murad made a substantial profit from his investment in SPX tokens. Based on addresses published by ZachXBT, Murad purchased 35.69 million SPX tokens between June 2 and August 16, spending $387,000. These tokens are now valued at $24 million, resulting in a profit of $23.6 million and an impressive return on investment of 61 times.#Murad #SPX #Investment #Profit #Blockchain #Cryptocurrency
🚀 State Street Bank Focuses On Tokenizing Bonds And Money Market Funds
#StateStreetBank #Tokenization #Bonds #MoneyMarketFunds #TokenizedCollateral #FinancialNews #AssetManagement #OperationalEfficiency #CommercialValue #PensionFunds
According to BlockBeats, on October 9, CoinDesk reported that State Street Bank's Chief Product Officer, Donna Milrod, revealed in an interview with Financial News that the bank is currently working on tokenizing bonds and money market funds. However, there are no plans to create stablecoins or tokenized deposits at this time. Milrod clarified, 'This does not mean we won't do it in the future; we just don't see the necessity right now.'
Milrod mentioned that State Street Bank has two ongoing tokenization projects, focusing on bonds and money market funds, which are expected to be completed 'sometime next year.' The goal is to establish tokenized collateral, allowing traders to use it as margin without liquidating their assets to cash out.
She emphasized, 'Operational efficiency alone is not enough. It needs to have commercial value, and the industry is figuring out where that value lies. Tokenized collateral could help avoid or mitigate the 'liability-driven' crisis of 2022, where pension funds could use money market fund tokens to meet margin calls instead of liquidating assets to raise cash.'#StateStreetBank #Tokenization #Bonds #MoneyMarketFunds #TokenizedCollateral #FinancialNews #AssetManagement #OperationalEfficiency #CommercialValue #PensionFunds
🚀 Forbes Adds Scallop (SCA) To Digital Assets Page
#Forbes #Scallop #SCA #DigitalAssets #Crypto #Token
According to Odaily, Forbes has updated its digital assets section to include Scallop (SCA). The page will now display real-time information on the SCA token, including its price and circulating supply.#Forbes #Scallop #SCA #DigitalAssets #Crypto #Token
🚀 Cryptocurrency Market Sees $106 Million in Liquidations Over 24 Hours
#Cryptocurrency #Market #Liquidations #Bitcoin #Ethereum #Coinglass #PANews
According to PANews, data from Coinglass reveals that the cryptocurrency market experienced liquidations totaling $106 million over the past 24 hours. Of this amount, long positions accounted for $66.33 million, while short positions made up $39.74 million. Bitcoin (BTC) saw liquidations amounting to $23.97 million, and Ethereum (ETH) experienced liquidations totaling $15.10 million.#Cryptocurrency #Market #Liquidations #Bitcoin #Ethereum #Coinglass #PANews
🚀 Hyperliquid Reports Arbitrum Bridge Failure
#Hyperliquid #Arbitrum #BridgeFailure #DecentralizedExchange #PerpetualExchange #RPC #Blockchain #ARB
According to Odaily, decentralized perpetual exchange Hyperliquid has released a report detailing the cause of the Arbitrum bridge failure that occurred on Monday. An anonymous developer, iliensinc, explained that the issue was due to an 'extremely rare edge case' where multiple RPCs (remote procedure calls) received incorrect data.#Hyperliquid #Arbitrum #BridgeFailure #DecentralizedExchange #PerpetualExchange #RPC #Blockchain #ARB
🚀 Animoca Brands To Increase Holdings Of PROS Tokens
#AnimocaBrands #PROS #blockchain #cryptocurrency #decentralized #predictionmarket
According to BlockBeats, Animoca Brands has announced plans to increase its holdings of PROS tokens through the open market. PROS is the utility token of Prosper, a decentralized prediction market platform. The decision reflects Animoca Brands' ongoing interest in expanding its portfolio within the blockchain and cryptocurrency sectors.#AnimocaBrands #PROS #blockchain #cryptocurrency #decentralized #predictionmarket
🚀 Pros Token Surges Amid Animoca Brands' Announcement
#ProsToken #AnimocaBrands #Cryptocurrency #TokenSurge #MarketUpdate #Investment #PROS
According to Odaily, the market shows that the price of PROS has surged to 0.7 USDT and is currently trading at 0.6651 USDT, marking a 24-hour increase of 143.72%. This significant rise follows the recent announcement by Animoca Brands, which stated that it will increase its holdings of PROS tokens through the open market.#ProsToken #AnimocaBrands #Cryptocurrency #TokenSurge #MarketUpdate #Investment #PROS
🚀 Meme Token MIHARU Surges After XData Post
#MIHARU #MemeToken #XData #Cryptocurrency #MarketSurge #SocialMediaInfluence #Volatility #AnimalImagery
According to Odaily, the meme token MIHARU experienced a significant surge in value following a post by the XData account on the X platform. The post featured an image of a smiling finless porpoise, which led to the token's value increasing fiftyfold, reaching a market capitalization of $3 million in a short period.
This is not the first time XData has influenced the market with animal-related posts. On September 21, the account posted an image of MOODENG, another instance where animal imagery had a notable impact. The rapid rise in MIHARU's value highlights the influence of social media activity on the cryptocurrency market, particularly with meme tokens that can experience volatile price movements based on trending content.#MIHARU #MemeToken #XData #Cryptocurrency #MarketSurge #SocialMediaInfluence #Volatility #AnimalImagery
🚀 OpenAI Plans Restructuring To Prevent Hostile Takeovers
#OpenAI #CorporateStructure #PublicBenefitCorporation #HostileTakeovers #SamAltman #Funding #Restructuring #InvestorRelations #Stakeholders
According to Odaily, OpenAI is pursuing a largely untested corporate structure to shield itself from hostile takeovers and protect CEO Sam Altman from external interference. The artificial intelligence startup, which secured $6.6 billion in new funding last week, is planning to restructure as a Public Benefit Corporation (PBC). Multiple sources familiar with the company's strategy indicate that one key advantage of the PBC structure is its potential to thwart unwanted acquisitions or demands from activists. This means that existing investors, such as Microsoft or other parties, may face challenges if they attempt to acquire OpenAI.
The PBC structure obligates OpenAI to balance the best interests of shareholders, the public, and stakeholders, including employees and society. A knowledgeable source stated that this approach to the company's #OpenAI #CorporateStructure #PublicBenefitCorporation #HostileTakeovers #SamAltman #Funding #Restructuring #InvestorRelations #Stakeholders
🚀 Ethereum And Bitcoin ETFs Experience Significant Outflows
#Ethereum #Bitcoin #ETFs #outflows #cryptocurrency #investing #ETH #BTC
According to Odaily, recent data monitored by Lookonchain on October 9 reveals notable outflows from U.S. Ethereum and Bitcoin ETFs. The data indicates that nine U.S. Ethereum ETFs experienced a total net outflow of 3,422 ETH, approximately valued at $8.32 million. Among these, Bitwise saw an outflow of 1,865 ETH, roughly equivalent to $4.53 million. Currently, Bitwise holds 98,288 ETH, valued at approximately $238.84 million.
In addition, ten U.S. Bitcoin ETFs recorded a total net outflow of 105 BTC, approximately worth $6.5 million. Notably, Fidelity experienced an outflow of 787 BTC, around $48.55 million. As of now, Fidelity holds 178,778 BTC, valued at approximately $11.03 billion.#Ethereum #Bitcoin #ETFs #outflows #cryptocurrency #investing #ETH #BTC
🚀 S&P 500 Nears Record High As Earnings Season Begins
#SP500 #EarningsSeason #MarketHigh #Investors #EconomicData #FederalReserve #InterestRates #TechnologyStocks #BankEarnings #MiddleEastTensions
According to BlockBeats, on October 10, the S&P 500 Index is poised to reach new highs as market attention shifts to the start of the earnings season. The third-quarter earnings season will officially commence on Friday, with several of the largest banks set to report their results. Investors have recently maintained a generally optimistic outlook, with strong economic data offsetting heightened tensions in the Middle East and uncertainties surrounding the upcoming U.S. elections. On Tuesday, driven by gains in technology stocks, the S&P 500 Index approached its historical peak.
In the near future, the Federal Reserve is expected to release the minutes from its September meeting. During this meeting, the Fed made a bold decision to cut interest rates by 50 basis points, marking the beginning of its rate-cutting actions. However, this decision was not unanimous, as it was the first time since 2005 that a Fed governor dissented from the majority opinion.#SP500 #EarningsSeason #MarketHigh #Investors #EconomicData #FederalReserve #InterestRates #TechnologyStocks #BankEarnings #MiddleEastTensions
🚀 SUI Chain Meme Token Loopy Surges Over 763% in 24 Hours
#SUIChain #MemeToken #Loopy #Cryptocurrency #MarketSurge #PriceVolatility #InvestmentCaution
According to BlockBeats, on October 10, the SUI chain's meme token Loopy experienced a significant surge, increasing by over 763% within 24 hours. The market capitalization of Loopy has surpassed $17 million, with a 24-hour trading volume of $4.7 million and a liquidity pool of $725,000.
Loopy is characterized by its cute pink fox animation, created by a South Korean designer. The design features large eyes, a rounded body, and simple lines, conveying emotions of friendliness and optimism. This appealing image has garnered popularity among young people and trend enthusiasts.
BlockBeats advises users that meme tokens currently lack practical use cases and are subject to high price volatility. Investors are urged to exercise caution.#SUIChain #MemeToken #Loopy #Cryptocurrency #MarketSurge #PriceVolatility #InvestmentCaution
🚀 Federal Reserve Minutes Reveal Support For 50 Basis Points Rate Cut
#FederalReserve #RateCut #MonetaryPolicy #EconomicStability #InterestRates #BlockBeats #FederalReserveMinutes
According to BlockBeats, the minutes from the Federal Reserve's October 10 meeting indicate that a significant majority of members support a 50 basis points rate cut. This decision reflects a consensus among the members to adjust the monetary policy in response to current economic conditions.
During the meeting, some participants highlighted that there were reasonable grounds for a 25 basis points rate cut in the July meeting. This discussion underscores the ongoing deliberations within the Federal Reserve regarding the appropriate measures to sustain economic stability and growth. The minutes provide insight into the central bank's strategic considerations and the factors influencing their policy decisions.#FederalReserve #RateCut #MonetaryPolicy #EconomicStability #InterestRates #BlockBeats #FederalReserveMinutes
🚀 US Stocks Rise Following Fed Meeting Minutes Release
#USStocks #FederalReserve #SP500 #DowJones #Nasdaq #ForeignExchange #USDJPY #EURUSD #TreasuryBonds
According to BlockBeats, on October 10, US stocks continued their upward trend following the release of the Federal Reserve meeting minutes. The S&P 500 index increased by 0.5%, the Dow Jones rose by 0.9%, and the Nasdaq climbed by 0.38%.
In the foreign exchange market, the USD/JPY experienced a short-term rise of 10 points, reaching 149.25. Currently, the USD/JPY stands at 149.23, marking a 0.7% increase. Meanwhile, the EUR/USD saw minimal changes, declining by 0.37% to 1.0939 during the day. Additionally, the yield on the US two-year Treasury bond slightly decreased to 4.011%.#USStocks #FederalReserve #SP500 #DowJones #Nasdaq #ForeignExchange #USDJPY #EURUSD #TreasuryBonds
🚀 WisdomTree Introduces Tokenized Money Fund For Debit Card Spending
#WisdomTree #TokenizedFunds #MoneyMarket #DebitCard #OnChain #RealWorldAssets #Investment #Crypto #Finance #Yield #DigitalAssets #Visa #TreasuryBills #AssetManagement #WisdomTreeConnect #Blockchain #TokenizedInvestment #RWA
According to Cointelegraph, WisdomTree has announced that debit card holders can now spend directly from its tokenized onchain money fund. The asset manager has integrated the WisdomTree Government Money Market Digital Fund (WTGXX) into its Visa debit card, allowing users to fund their daily purchases through the app while potentially earning yield from the WTGXX investment until it is sold for spending, as stated by Will Peck, WisdomTree’s head of digital assets.
WTGXX is a tokenized real-world asset fund that includes United States Treasury bills and other highly liquid assets, yielding around 4.6% as of October 9. The fund currently manages approximately $12 million in assets. WisdomTree operates over a dozen tokenized investment funds, with holdings ranging from money market instruments to S&P 500 stocks and US Treasury bonds. The largest funds by assets under management are the BlackRock USD Institutional Digital Liquidity Fund (BUIDL) and the Franklin OnChain US Government Money Fund (FOBXX), with AUM of approximately $520 million and $440 million, respectively.
In September, WisdomTree launched an RWA platform called WisdomTree Connect, designed to allow users to access the asset manager’s regulated fund tokens from any wallet or blockchain network. Initially, the platform will custody users’ tokenized investment funds with third-party custodians while sending a digital record of ownership to the user’s personal wallet. WisdomTree aims to eventually expand access to its RWAs to other customer-facing platforms and apps, including retail users with self-hosted wallets.
Real-world assets, including tokenized claims on financial assets, commodities, or art, currently have nearly $13 billion in total value locked, representing a $30-trillion market opportunity globally, according to Colin Butler, Polygon’s global head of institutional capital.#WisdomTree #TokenizedFunds #MoneyMarket #DebitCard #OnChain #RealWorldAssets #Investment #Crypto #Finance #Yield #DigitalAssets #Visa #TreasuryBills #AssetManagement #WisdomTreeConnect #Blockchain #TokenizedInvestment #RWA
🚀 Bitcoin(BTC) Drops Below 61,000 USDT with a 1.73% Decrease in 24 Hours
#Bitcoin #BTC #Cryptocurrency #USDT #MarketData #PriceDrop
On Oct 09, 2024, 19:26 PM(UTC). According to Binance Market Data, Bitcoin has dropped below 61,000 USDT and is now trading at 60,882.628906 USDT, with a narrowed 1.73% decrease in 24 hours.#Bitcoin #BTC #Cryptocurrency #USDT #MarketData #PriceDrop
🚀 Federal Prosecutors Charge Crypto Market Manipulators
#FederalProsecutors #CryptoMarket #MarketManipulation #Gotbit #ZMQuant #WashTrading #CryptoProjects #Securities #RoboInu #VZZN #NextFundAI #Saitama #SEC #Indictments
According to CoinDesk, federal prosecutors have charged two purported market makers, several crypto projects, and over a dozen individuals with manipulating various crypto markets. The charges allege that these entities profited from fees and selling manipulated coins at elevated values.
The charging documents, unsealed on Wednesday, reveal that Gotbit and ZM Quant engaged in wash trading of various tokens to create the illusion of legitimate activity. They sold these tokens at artificially inflated prices, marketed them on various platforms, and convinced exchanges to allow them to buy tokens with reduced fees. Prosecutors claim that both Gotbit and ZM Quant publicly presented themselves as legitimate market makers offering legal services, while privately providing illegal services, including wash trading.
In Gotbit’s case, the illegal activities were not entirely private. In 2019, Gotbit co-founder Alexey Andryunin, then a 20-year-old college sophomore, explained to CoinDesk how the wash trading services worked. He admitted that Gotbit was not registered in any jurisdiction because it was “not entirely ethical.” ZM Quant was registered in the British Virgin Islands, but its employees named in the indictment were based in Hong Kong. Gotbit's employees are believed to be Russian.
The manipulated tokens included Robo Inu, which saw a price increase after the indictment was unsealed. Other named defendants include VZZN, NextFundAI, and Saitama. According to the indictments, each token, including Robo Inu, is classified as a security. Several individuals behind these projects, including Robo Inu founder Vy Pham, have also been named as defendants.
The U.S. Securities and Exchange Commission (SEC) has unveiled parallel civil charges against Gotbit and its employee director Fedor Kedrov, a Russian resident.#FederalProsecutors #CryptoMarket #MarketManipulation #Gotbit #ZMQuant #WashTrading #CryptoProjects #Securities #RoboInu #VZZN #NextFundAI #Saitama #SEC #Indictments
🚀 BNB Drops Below 570 USDT with a 2.45% Decrease in 24 Hours
#BNB #cryptocurrency #Binance #USDT #marketdata #priceupdate #decrease
On Oct 09, 2024, 20:26 PM(UTC). According to Binance Market Data, BNB has dropped below 570 USDT and is now trading at 569.299988 USDT, with a narrowed 2.45% decrease in 24 hours.#BNB #cryptocurrency #Binance #USDT #marketdata #priceupdate #decrease
🚀 Ethereum(ETH) Drops Below 2,400 USDT with a 1.99% Decrease in 24 Hours
#Ethereum #ETH #Binance #cryptocurrency #USDT #marketdata #priceupdate
On Oct 09, 2024, 20:49 PM(UTC). According to Binance Market Data, Ethereum has dropped below 2,400 USDT and is now trading at 2,395.280029 USDT, with a narrowed 1.99% decrease in 24 hours.#Ethereum #ETH #Binance #cryptocurrency #USDT #marketdata #priceupdate
🚀 Crypto Enthusiasts Gather For Permissionless III In Salt Lake City
#Crypto #PermissionlessIII #SaltLakeCity #CryptoEnthusiasts #Blockchain #Investing #Regulation #Bitcoin #ETFs #SamaraCohen #ChrisDixon #a16z #RockClimbing #AxeThrowing #CryptoEvents #BTC
According to Blockworks, the first day of Permissionless III in Salt Lake City saw thousands of crypto enthusiasts engaging in various activities, including rock climbing and axe throwing. The event featured sessions on diverse topics such as investing in private markets and a fireside chat with BlackRock’s Samara Cohen. One attendee noted a preference for Permissionless over other crypto events, describing it as “less of a zoo.”
While many attendees enjoyed the event's atmosphere, Ram Ahluwalia expressed a sense of “malaise,” pondering whether latecomers who bought in as prices rose would hold or sell once a new all-time high is reached. Blockworks Chief Operating Officer Sid Viswanath reported positive feedback from attendees, who appreciated the event's quality despite its smaller size compared to last year.
On the main stage, a16z crypto’s Chris Dixon advocated for bipartisan legislation, highlighting a “chill” on crypto due to the current regulatory environment. The topic of regulation was a recurring theme in many panels, especially those on the main stage. Despite regulatory concerns, there was an undertone of optimism among attendees and speakers.
BlackRock’s Samara Cohen provided insights into IBIT’s investors, noting that 75% of buyers were first-time iShare buyers, indicating a strong interest from crypto natives. She also mentioned that 85% of investors were direct buyers, reflecting a significant appetite for bitcoin ETFs. Cohen’s talk received positive feedback from attendees.
In the afternoon, smaller panels, known as breakout tracks, began. One panel featured Taproots Wizard co-founder Eric Wall and Galaxy’s Alex Thorn discussing bitcoin with Bankless co-founder David Hoffman. Hoffman is set to participate in a Karate Combat match against Kain Warwick on Friday.#Crypto #PermissionlessIII #SaltLakeCity #CryptoEnthusiasts #Blockchain #Investing #Regulation #Bitcoin #ETFs #SamaraCohen #ChrisDixon #a16z #RockClimbing #AxeThrowing #CryptoEvents #BTC