TOP 5 Trending Coins
| Indices | LTP | Change (%) |
|---|---|---|
| Terra Classic | $0.0001196 | 0.47% |
| IOTA | $0.2353 | 35.69% |
| NEST Protocol | $0.003731 | 0.64% |
| Chainlink | $14.47 | 0.81% |
| Terra ClassicUSD | $0.05473 | 25.06% |
Swiss firm Pando Asset joins U.S. Bitcoin ETF race as the 13th contender. BlackRock proposes ETF model tweaks. Analysts predict Jan. 10 approval for all ETFs, raising questions about fair play. SEC discusses BlackRock's redemption model changes. Balchunas questions Pando's late entry.
Bitcoin is in an upward accumulation phase, nearing its yearly high of $38,450. The anticipation of SEC approval for Bitcoin spot ETFs by January 10 is contributing to the positive trend. Analysts expect a potential breakout, with key support at $35,000 crucial for sustained growth. Resistance levels suggest the potential for surpassing the previous all-time high.
CME Bitcoin futures open interest reaches $4.35 billion, reflecting institutional interest ahead of a potential spot Bitcoin ETF approval. Despite an annualized premium spike on Nov. 28, BTC options skew suggests cautious optimism among institutional investors.
Bankrupt crypto exchange FTX has received approval to sell $873 million in trust assets, sourced from its stakes in Grayscale Investments and Bitwise, to repay creditors. The assets include Grayscale's Bitcoin and Ethereum trusts. FTX, led by administrators recovering assets since its 2022 collapse, has already recovered $7 billion, with founder Sam Bankman-Fried convicted on fraud charges. He awaits sentencing in custody.
Sam Altman has officially returned as CEO of OpenAI, ending a temporary departure. Interim CEO Mira Murati steps down, and a new board includes Bret Taylor, Larry Summers, and Adam D'Angelo. Microsoft joins as a non-voting observer. Altman emphasizes advancing research and product improvement. Taylor aims to enhance governance and stability.
Elon Musk , owner of micro-blogging platform X (formerly Twitter), unleashed an expletive-laden outburst at the DealBook Summit, responding to advertisers leaving over antisemitic posts he endorsed. Musk criticized the advertising boycott, predicting it could "kill the company." Reports suggest up to $75 million in revenue is at risk from over 200 advertisers.
Australia's Department of the Treasury proposes a new framework to combat scams, including specific codes and standards for banking and cryptocurrency scams. The consultation paper aims to assign mandatory industry codes to various scam types, addressing roles and responsibilities for government and private entities. Scams cost Australians at least $3.1 billion in 2022.
The Brazilian Senate approves new income tax rules requiring up to a 15% tax on Brazilians' cryptocurrency income from foreign exchanges. Effective January 1, 2024, the tax applies to earnings over $1,200, aligning rates with domestic funds. The government aims to generate $4 billion in revenue in 2024, facing dissent from some senators.
Grayscale proposes amendments to its Bitcoin Trust (GBTC) to enhance its structure for a potential transition to a spot Bitcoin ETF, aiming for fair competition with firms like BlackRock. Changes include transitioning fees from monthly to daily and allowing mingling of assets. GBTC's share price surged 278% in 2023, narrowing the discount to spot BTC price to a two-year low. Shareholders have a 20-day window to vote on these changes.
Cryptocurrency lending platform Celsius, which filed for bankruptcy in July 2022, now allows withdrawals for customers in the Custody Program, enabling them to withdraw 72.5% of their cryptocurrency holdings by February 28, with transaction fees applying. Customers opposing the reorganization plan are excluded. Celsius faces technical challenges during this process, and CEO Alex Mashinsky is still in legal battles with regulators. The company seeks to rebuild trust and stabilize operations.
Also read - 24 Crypto Update, 29 Nov: Crypto remain calm ahead of Powell's speech
