#bitcoin

Grayscale Investments is gearing up for a potential positive outcome in its lawsuit with the SEC, as it begins hiring for its ETF team. The firm is on the lookout for a "Senior Associate, ETFs" to bolster its ETF business development. This move comes as the crypto community eagerly awaits a court decision on Grayscale's proposal to convert its GBTC fund into a spot bitcoin ETF. The outcome could set a precedent for other asset managers seeking approvals for spot bitcoin funds, influencing the future of crypto ETFs.

The issuer of USDT has resolved to end support for Kusama, Bitcoin Cash SLP, and Omni Layer. This move follows an in-depth analysis of the functionality, safety, and stability of these particular blockchains. Notably, Omni Layer, Tether's first transport layer since its inception in 2014, was instrumental during its early days. However, it has witnessed a decline in popularity due to rising competitive solutions. Though minting of USDT on the aforesaid platforms will be terminated, the redemption process will stay in place for a duration extending at least a year.

Quantum Blockchain Technologies (QBT), a research company, has unveiled an innovative bitcoin mining method that utilizes artificial intelligence. According to the company's statement, this new approach to hash verification, as opposed to random selection, boosts the chances of finding a winning hash by approximately 260%.

The current market landscape marks an unprecedented decline in liquidity, according to Bloomberg Intelligence's senior macro strategist, Mike McGlone. If this pattern holds throughout 2023, he warns of a potential sharp descent in Bitcoin prices, which would ripple through Ethereum, XRP, and the general cryptocurrency domain. “What should be early indications of recessionary times? The best indication should be bitcoin and that’s where I’m looking for the bleeding occasion from bitcoin and it’s still kind of showing what I expected.” “Picture December: Recession looms, Fed hesitates on easing due to inflation,” said McGlone.

Kevin Kelly, Delphi Digital's co-founder, suggests the crypto market is entering a new cycle. He highlights the consistency in crypto market timings, from peak-to-trough bottoms to recovery durations. Using Bitcoin as a reference, Kelly describes a typical cycle: a new all-time high, an 80% drawdown, a recovery to the previous high in two years, and a rally to a new peak. This cycle aligns with broader business cycles. Kelly also draws parallels between Bitcoin's price peaks and the ISM Manufacturing Index. Despite potential short-term setbacks, Kelly remains optimistic about the market's outlook for the next 12-18 months.

acobi Asset Management Lists Europe’s First Spot Bitcoin ETF on Euronext Amsterdam Exchange. “It is exciting to see Europe moving ahead of the US in opening up Bitcoin investing for institutional investors who want safe, secure access to the benefits of digital assets,” says the company’s CEO, Martin Bednall. Well, now it’s the USA’s turn!

In the Argentine primary elections, Javier Milei, a candidate who supports Bitcoin and vehemently opposes the Central Bank, has garnered most of the votes. He's not shy about criticizing the Central Bank, dubbing it a conduit for politicians to exploit Argentinians via inflation. Milei is convinced that the salvation lies in Bitcoin, which can instill privacy back into finances. Simultaneously, Bitcoin has hit a fresh historical maximum value when measured in Argentine peso.

Carlyle Group co-founder David Rubenstein, in an interview with Bloomberg, expressed his regret for missing the opportunity to invest in Bitcoin when a single coin was worth just $100. Not one to dwell on past mistakes, David's currently pouring capital into companies making crypto trading accessible for everyone. Sound familiar? David's story echoes in many of us.

According to Kaiko, BTC and ETH have recorded their lowest 90-day price volatility compared to oil in many years, a mark last reached in 2016. Right now, Bitcoin's volatility sits at 35%, Ethereum's at 37%, while oil's is higher at 41%. Experience tells us that after such periods of quiet , a significant move often follows. Judging by Bitcoin's recent dynamics, it appears such a shift might be kicking off.

John Reed Stark, ex-chief of the SEC's Office of Internet Enforcement, believes the current SEC won't approve a Bitcoin spot ETF due to various reasons. However, Stark suggests that if a Republican wins the 2024 presidential election, the SEC might ease its crypto-enforcement and be more open to a Bitcoin spot ETF. He also speculates that SEC chair Gary Gensler might resign, potentially paving the way for Hester Peirce, known as "Crypto Mom", to take a leading role.

This Sunday (August 13) marks the first deadline for the SEC to weigh in on ARK 21Shares' Bitcoin ETF application. Weekend deadlines are tricky, but some analysts suggest the decision could drop today. Analyst James Seyffart puts the odds of approval at less than 5%. Keep an eye out for the next milestone: BlackRock's Bitcoin ETF deadline is September 2.

"Simply put, no. Bitcoin raises concerns among both local and European regulators. Our primary business demands our focus, and it wouldn't be rational to jeopardize it by engaging with a high-risk asset like Bitcoin," says Mykhailo Rohalskyi. He believes that cryptocurrency lacks advantages over fiat money, apart from the potential to sidestep local currency regulations. Speaking on Ukraine's crypto landscape, the Monobank co-founder added: "I'm skeptical about the widespread acceptance of cryptocurrencies in our country. The approach of the National Bank of Ukraine to crypto regulation remains uncertain."

Company’s CTO Paolo Ardoino has shared his excitement about a mobile app designed to facilitate international purchases settlements B2B, B2C and C2C based on USDT and XAUT payments. Notably, the app will also incorporate support for Bitcoin Lightning. Paolo stated that he envisions this app as the future of trade finance. Having personally reviewed the code, his experience as a developer has left him genuinely impressed. Currently, the app is in its testing stages, with more specifics yet to be unveiled.