Bitcoin News and Finance: What You Need to Know

The U.S. Securities and Exchange Commission (SEC) is expected to green-light “a handful” of spot bitcoin exchange-traded funds (ETFs) on Wednesday, potentially unleashing a wave of trading this week. On Monday, 10 applicants submitted their final amendments, including Blackrock, which also filed to register its Ishares Bitcoin Trust as a security. SEC Expected to Green-Light Spot Bitcoin ETFs on Wednesday Monday was filled with anticipation in the spot bitcoin exchange-traded fund (ETF) race as 10 applicants filed final amendments with the U.S. Securities and Exchange Commission (SEC), meeting the regulator’s 8 a.m. deadline. Market expectations of potential approvals sent BTC soaring past $47,000 . As investors eagerly await the SEC decision on spot bitcoin ETFs, CNBC reported Monday that the securities regulator could unlock the gates for several applicants on Wednesday. Reporter Kate Rooney detailed: Bitcoin ETF is now widely expected to get the green light this week. Two so...

U.S. Securities and Exchange Commission (SEC) Chairman Gary Gensler has issued warnings about crypto investing amid soaring anticipation for potential spot bitcoin ETF approvals. The SEC chief stressed that crypto investors “should understand they may be deprived of key info” and “other important protections” in connection with their investment. Gary Gensler’s Crypto Warnings The chairman of the U.S. Securities and Exchange Commission (SEC), Gary Gensler, raised concerns about investing in crypto assets in a series of posts on social media platform X Monday. His warnings came amid heightened anticipation for spot bitcoin exchange-traded fund (ETF) approvals. “Some things to keep in mind if you’re considering investing in crypto assets,” the SEC chief began . Firstly, Gensler warned, “Those offering crypto asset investments/services may not be complying w/ applicable law, including federal securities laws,” elaborating: Investors in crypto asset securities should understand they m...

Visa, a worldwide leader in credit payment technology, has announced that it will include Web3 elements in its customized loyalty program solution. The company partnered with Smartmedia Technologies, a Web3 loyalty rewards startup, to add innovative features to these programs that include virtual worlds, digital wallets, and gamified rewards. Visa Turns to Web3 to Revitalize the World of Loyalty Rewards Programs Visa, one of the largest payments companies in the world, is adding Web3 elements to its loyalty program solution. The company announced that it was revitalizing its traditional engagement solution with Web3 elements to catch the attention of a new kind of customer with more expectations about rewards than just receiving points. For this, Visa partnered with Smartmedia Technologies, a startup that allows adding virtual and digital experiences to rewards programs. Smartmedia has worked with American Express, Accenture, Axe, and Vodafone. Kathleen Pierce-Gilmore, SVP and G...

Rep. Blaine Luetkemeyer’s retirement at the end of 2024 opens the door for a new era in cryptocurrency regulation, with Rep. French Hill (R-Ark.) poised to lead the charge in the House Financial Services Committee. Shift in House Financial Services Committee Leadership Could Lead to More Progressive Crypto Legislation In a move that could impact the future of cryptocurrency regulation, U.S. Rep. Blaine Luetkemeyer (R-Mo.) announced his retirement at the end of 2024. This decision leaves a potential opening for a more crypto-friendly chairmanship of the House Financial Services Committee, following the departure of the current chair, Patrick McHenry, in early 2025 when his term ends. pic.twitter.com/Kp2TmrR7jw — Blaine Luetkemeyer (@RepBlaine) January 4, 2024 Luetkemeyer, who currently holds a position on the House Financial Services Committee, had expressed interest in running for McHenry’s chairmanship. His retirement opens the door for Rep. French Hill (R-Ark.), known for lea...

Microstraetgy’s executive chairman, Michael Saylor, has warned about new bitcoin giveaway scams using AI-generated deepfake videos featuring him and his company. “There is no such thing as a free lunch,” the Microstratgy executive stressed. The deepfake Saylor urges investors to send him bitcoin or ether, promising to double any amount sent. Saylor Warns of Deepfake Bitcoin Giveaway Scams A wave of scams targeting cryptocurrency investors using AI-generated deepfake videos has swept across platforms like Youtube and X, with Ripple CEO Brad Garlinghouse and Microstrategy executive chairman Michael Saylor among the prominent figures featured. On Friday, Saylor issued a warning about fraudulent deepfake videos of him and Microstrategy giving away bitcoin appearing on Youtube. The AI-generated videos prompted him to urge his followers to exercise caution, emphasizing: “There is no such thing as a free lunch.” The video shows a deepfake of Saylor urging viewers to send him bitcoin, p...

Former Bitmex CEO Arthur Hayes is cautioning about a potential 30% correction in the bitcoin market. “The washout could be even more severe if the slate of U.S.-listed spot bitcoin ETFs has already commenced trading,” he warned. “I could easily see a 30% to 40% correction due to a dollar liquidity rug pull.” Ex-Bitmex Chief’s Bitcoin Predictions Former Bitmex CEO Arthur Hayes outlined his bitcoin price forecast in a Medium post published last week. He also discussed the impact of spot bitcoin exchange-traded funds (ETFs) on the price of bitcoin. The U.S. Securities and Exchange Commission (SEC) is expected to approve multiple spot bitcoin ETFs early next week. Noting that he expects three variables to “collide with each other in March,” the former Bitmex boss predicts: I expect bitcoin to experience a healthy 20% to 30% correction from whatever level it has attained by early March. The washout could be even more severe if the slate of U.S.-listed spot bitcoin ETFs has already co...

The U.S. Securities and Exchange Commission (SEC) has warned investors about fear of missing out (FOMO). “Just because others might buy a particular investment, doesn’t mean it’s the right opportunity for you,” the SEC noted. “We’ve all seen the increased interest in online investing and the explosion of digital assets and meme stocks. Understanding these kinds of investments may seem overwhelming.” SEC’s FOMO Warning The U.S. Securities and Exchange Commission (SEC)’s Office of Investor Education and Advocacy issued a warning on social media platform X Saturday about the risks of fear of missing out (FOMO). This is the fifth piece of advice in a recent series from the agency. “‘NO GO to FOMO’ (fear of missing out),” the Office wrote, explaining that seeing others invest in a particular investment doesn’t make it the right choice for you. The SEC then urged investors to find out which investments are right for them and their investing goals. The SEC’s warning post references an a...

Blackrock, the world’s largest asset manager, reportedly expects its spot bitcoin exchange-traded fund (ETF), the Ishares Bitcoin Trust, to be approved by the U.S. Securities and Exchange Commission (SEC) this coming Wednesday. According to reports, the asset manager has lined up over $2 billion in capital for its spot bitcoin ETF launch. Ishares Bitcoin Trust’s Approval Expected Wednesday Anticipation for the U.S. Securities and Exchange Commission (SEC)’s upcoming decision on spot bitcoin exchange-traded funds (ETFs) has reached a fever pitch, with analysts predicting that the regulator may approve multiple applications at once early next week. Jan. 10 is the deadline for the SEC to make a decision on the joint spot bitcoin ETF proposal by Cathie Wood’s Ark Invest and 21shares. While some believe that a decision could come as soon as Monday, Blackrock, the world’s largest asset manager, expects the SEC to approve its spot bitcoin ETF, the Ishares Bitcoin Trust, on Wednesday, acco...

A group of former Citigroup executives has introduced a new product called bitcoin depository receipts. They explained that this crypto product does not need to be registered with the U.S. Securities and Exchange Commission (SEC). The new offering aims to be a “complementary” product to spot bitcoin exchange-traded funds (ETFs) that the securities regulator is expected to approve early next week. ‘The First-Ever Bitcoin Depositary Receipt’ Launches A startup called Receipts Depositary Corporation (RDC), formed by a group of former Citigroup executives, announced the launch of “the first-ever bitcoin depositary receipt ( BTC DR)” on Thursday. Bitcoin depositary receipts are similar to American Depositary Receipts (ADRs) for foreign stocks, RDC explained, adding that they operate within U.S.-regulated market infrastructure and are cleared through the Depository Trust Company (DTC). The announcement details: RDC expects to issue the first BTC DRs in transactions exempt from regi...

The possibility of the U.S. Securities and Exchange Commission (SEC) rejecting spot bitcoin exchange-traded funds (ETFs) became a concern after financial watchdog group Better Markets called on the securities regulator to reject spot bitcoin ETFs, warning that approvals will lead to “financial carnage” and “massive investor harm.” The SEC is expected to make a decision on spot bitcoin ETFs early next week, and trading could begin as soon as Jan. 11. Will SEC Reject Spot Bitcoin ETF Applications? Concerns gripped the crypto community following Friday’s letter from Better Markets, a financial watchdog group, urging the U.S. Securities and Exchange Commission (SEC) to reject spot bitcoin exchange-traded funds (ETFs). The group argued that the SEC has a legal obligation to deny these applications, warning of potential “financial carnage” and “massive investor harm” if spot bitcoin ETFs are approved. The group features Senator Elizabeth Warren (D-MA) as a top testimonial on its website...

Blackrock, the world’s largest asset manager, has reportedly lined up more than $2 billion for its spot bitcoin exchange-traded fund (ETF) within days of launch. Vaneck’s head of digital assets research and a Bloomberg ETF analyst have independently verified with their sources that Blackrock has a “big day one” capital lined up for its spot bitcoin ETF. Blackrock Prepares for ‘Big Day One’ of Spot Bitcoin ETF Launch The world’s largest asset manager has reportedly lined up $2 billion in capital for its upcoming spot bitcoin exchange-traded fund (ETF) launch, according to Vaneck’s head of digital assets research, Matthew Sigel. Vaneck is among the asset managers that have filed to launch a spot bitcoin ETF with the U.S. Securities and Exchange Commission (SEC). Blackrock, Vaneck, and nine other spot bitcoin ETF applicants are waiting for the green light from the SEC to launch spot bitcoin ETFs. Sigel revealed during an X Space discussion hosted by The Block on Friday: I heard from...

Financial watchdog group Better Markets has called on the U.S. Securities and Exchange Commission (SEC) to reject spot bitcoin exchange-traded funds (ETFs), warning that they “will inflict massive investor harm.” The organization features U.S. Senator Elizabeth Warren’s testimonial on its website. Its president, who is reportedly close to SEC Chairman Gary Gensler, warned the securities regulator that it “must not facilitate the financial carnage that will follow.” SEC Must ‘Follow the Law and Reject’ Spot Bitcoin ETFs On Friday, Better Markets filed a supplemental comment letter with the U.S. Securities and Exchange Commission (SEC) detailing why the securities regulator should reject applications to launch spot bitcoin exchange-traded products (ETPs), which include bitcoin exchange-traded funds (ETFs). Better Markets is a non-profit, non-partisan, independent organization based in Washington, D.C. It is dedicated to promoting the public interest in financial reform, financial m...

Asset management firm Vaneck has pledged to donate 5% of its spot bitcoin exchange-traded fund (ETF) profits to support Bitcoin Core developers for at least 10 years. The company is currently awaiting approval from the U.S. Securities and Exchange Commission (SEC) to launch its spot bitcoin ETF. The securities regulator is expected to approve multiple applications early next week. Vaneck to Donate 5% of Spot Bitcoin ETF Profits Asset manager Vaneck pledged financial support for Bitcoin Core developers on Friday, ahead of the U.S. Securities and Exchange Commission (SEC)’s decision on its spot bitcoin exchange-traded fund (ETF) application. Vaneck is one of 11 companies vying to launch the first U.S. spot bitcoin ETFs. “We’re not Bitcoin tourists at Vaneck. We’re in it for the long haul,” Vaneck wrote on social media platform X Friday. The asset manager added: That’s why we made an initial $10k donation and signed a pledge to donate 5% of our bitcoin ETF profits (if approved) to s...

Bitcoin’s network difficulty experienced its first increase of 2024 on Jan. 5, at block height 824,544, rising 1.65% to an unprecedented network peak of 73.2 trillion. This inaugural adjustment of the year succeeds the 27 dynamic shifts witnessed in 2023, including a total of 20 increases. Bitcoin’s Difficulty Hits 73.2 Trillion On Jan. 5, 2024, Bitcoin once again broke another record in terms of how difficult it is to discover a bitcoin ( BTC ) block reward. The network’s difficulty rose to 73.2 trillion after a 1.65% uptick on Friday evening Eastern Time (ET). The change occurred at precisely 7:41 p.m. (ET) at block height 824,544 and it follows the 6.98% increase that took place nearly two weeks ago at block height 822,528. Fundamentally, Bitcoin’s difficulty represents a metric reflecting the challenge involved in identifying a block subsidy to append a fresh block to the blockchain. The difficulty level changes every two weeks, give or take, to maintain a consistent block t...

The Blockchain Basics Act, introduced recently into the Missouri State House, seeks to guarantee crypto-related rights, including self-custody, transacting, mining, and staking, to the state’s people. Proposed by Rep. Phil Christofanelli, the bill aims to take the crypto legislation fight to the state level, according to Dennis Porter, CEO and co-founder of the Satoshi Action Fund. ‘Blockchain Basics Act’ Proposes to Guarantee Crypto Rights at a State Level in Missouri The fight for crypto legislation clarity is changing. A new bill, the “Blockchain Basics Act” ( HB2107 ), introduced in Missouri’s State House, seeks to guarantee a series of cryptocurrency rights to the people of Missouri. Introduced by Rep. Phil Christofanelli on December 27, the bill protects the right of Missouri’s citizens to the custody of their cryptocurrency assets, the right to exert cryptocurrency mining activities without restrictions, the right to transact and make payments with crypto, and eliminates sta...

The bankrupt cryptocurrency lender Celsius Network announced its plan to unstake significant holdings of ethereum to facilitate asset distribution to its creditors. This move is part of the firm’s ongoing efforts to restructure and resolve outstanding liabilities. Crypto Lender Celsius to Unstake Ether Celsius Network’s decision to unstake ethereum ( ETH ) reflects a broader strategy to manage its assets amidst a challenging phase. After filing for Chapter 11 bankruptcy protection in July 2022, the company faced a liquidity crisis following the downward spiral of the crypto market. The unstaking process is intended to provide necessary liquidity to offset costs incurred during the restructuring process and ensure timely distributions to creditors. “Celsius will unstake existing ETH holdings, which have provided valuable staking rewards income to the estate, to offset certain costs incurred throughout the restructuring process,” the company announced on Friday. The company added:...

Robert Kiyosaki, the author of Rich Dad Poor Dad, has advised investors to closely monitor Bitcoin’s upcoming halving, emphasizing that the event is fast approaching. The famous author recently revealed that he is $1 billion in debt but does not see it as his problem. He further shared that he uses debt as money to buy assets, including bitcoin, emphasizing that he does not trust the U.S. dollar. Robert Kiyosaki Urges Investors to Pay Attention to Bitcoin Halving The author of Rich Dad Poor Dad, Robert Kiyosaki, has highlighted the upcoming Bitcoin halving in April as a key event for investors to watch. Rich Dad Poor Dad is a 1997 book co-authored by Kiyosaki and Sharon Lechter. It has been on the New York Times Best Seller List for over six years. More than 32 million copies of the book have been sold in over 51 languages across more than 109 countries. In a post on social media platform X Wednesday, the famous author explained that one contributing factor to the financial status ...

Shark Tank investor Kevin O’Leary, also known as Mr. Wonderful, has emphasized that institutional interest in crypto and bitcoin will remain high regardless of the U.S. Securities and Exchange Commission (SEC)’s decision on spot bitcoin exchange-traded funds (ETFs). “Even a no decision will not change the long-term potential,” he stressed. Kevin O’Leary Discusses Impact of Spot Bitcoin ETFs on Institutional Demand for Crypto Kevin O’Leary, the chairman of O’Leary Ventures, has weighed in on the potential impact of the U.S. Securities and Exchange Commission (SEC) approving spot bitcoin exchange-traded funds (ETFs) on institutional interest in crypto. He shared on social media platform X Wednesday: “Bitcoin has a spectacular appreciation. Why? The anticipation of the SEC approving the first bitcoin ETF before Jan 10th. I’m not so sure. Gary Gensler at the SEC has never confirmed any timetable for a bitcoin ETF.” However, Mr. Wonderful noted: Even a no decision will not change the ...

Five spot bitcoin exchange-traded fund (ETF) applicants have filed to register their funds as securities with the U.S. Securities and Exchange Commission (SEC) as the approval deadline draws near. While some interpret this development as approval confirmation of spot bitcoin ETFs by the SEC, experts clarify that several steps remain before these ETFs are greenlighted to launch. Vaneck, Valkyrie, Fidelity, Bitwise, and Grayscale File to Register Spot Bitcoin ETFs as Securities With SEC Several asset managers have filed to register their spot bitcoin exchange-traded funds (ETFs) as securities with the U.S. Securities and Exchange Commission (SEC). The first deadline for a spot bitcoin ETF decision is Jan. 10. However, many expect the SEC to make a decision before that date. Vaneck , Valkyrie , and Grayscale Investments filed on Thursday. Fidelity filed on Wednesday, and Bitwise filed last week. Grayscale’s and Bitwise’s spot bitcoin ETFs plan to list on the NYSE Arca exchange. Van...

The U.S. Securities and Exchange Commission (SEC) has met with officials from major exchanges to discuss spot bitcoin exchange-traded funds (ETFs). Sources close to the proceedings say the securities regulator could begin notifying issuers of spot bitcoin ETF approval on Friday and trading could begin as early as next week. “SEC is giving final comments as we speak,” a Bloomberg analyst described, adding that this is “as close to ‘done’ as we’ve been.” SEC Meeting With Exchanges to Discuss Spot Bitcoin ETFs The U.S. Securities and Exchange Commission (SEC)’s staff attorneys from the Division of Trading and Markets reportedly held meetings with officials from major exchanges, including the New York Stock Exchange (NYSE), Nasdaq, and Chicago Board Options Exchange (CBOE), on Wednesday. Fox Business reporter Eleanor Terrett shared on social media platform X: The SEC is holding meetings today with the exchanges (Nasdaq, CBOE, NYSE) to finalize comments on the 19b-4s submitted by the B...

Investment bank TD Cowen predicts the U.S. Securities and Exchange Commission (SEC) will approve a spot bitcoin exchange-traded funds (ETFs) by the Jan. 10 deadline as a “political necessity.” The bank’s analyst believes that the SEC needs to “cement its role as a crypto regulator before Congress consider broader crypto legislation.” ‘This Is a Political Necessity’ Investment bank TD Cowen’s research team expects the U.S. Securities and Exchange Commission (SEC) to approve a spot bitcoin exchange-traded fund (ETF) by the Jan. 10 deadline, viewing it as a “political necessity.” This date marks the first decision deadline this year; it’s for a spot bitcoin ETF proposal submitted by Cathie Wood’s Ark Invest and 21shares. In a note published on Tuesday, TD Cowen Washington Research Group, led by financial analyst Jaret Seiberg, explained: To us, this is a political necessity as the agency needs to cement its role as a crypto regulator before Congress consider broader crypto legislat...

Rich Dad Poor Dad author Robert Kiyosaki has warned that our leaders will drive the U.S. economy into an economic depression and a war. The famous author has reiterated his recommendation to buy bitcoin amid high anticipation of the U.S. Securities and Exchange Commission (SEC) approving spot bitcoin exchange-traded funds (ETFs). Robert Kiyosaki on Depression and War The author of Rich Dad Poor Dad, Robert Kiyosaki, has warned that our leaders will drive us into an economic depression and a war. Rich Dad Poor Dad is a 1997 book co-authored by Kiyosaki and Sharon Lechter. It has been on the New York Times Best Seller List for over six years. More than 32 million copies of the book have been sold in over 51 languages across more than 109 countries. He explained on social media platform X Saturday that the “Definition of insanity is doing the same thing over and over again and expecting things to change.” He emphasized, “Our leaders, the 3 Stooges Biden as President, Yellen as Treasur...