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satoshin • Jun 30, 2023, 5:08 pm EDT

Fidelity Joins the Lineup of Bitcoin ETF Re-filers as Pressure Mounts on SEC

Fidelity Investments, the financial services giant with $4.5 trillion under management, has officially re-filed its application for a spot Bitcoin Exchange-Traded Fund (ETF). This move follows the Securities and Exchange Commission’s (SEC) call for more clarity in applications. In line with the SEC’s demand, Fidelity named Coinbase as its exchange partner in its re-filed application. This comes as part of a broader industry response, with asset management firms VanEck, WisdomTree, and Invesco also re-submitting their applications for Bitcoin ETFs with similar amendments. This surge of filings intensifies the pressure on the SEC, with the financial industry showing increasing willingness to

2 minutes

satoshin • Jun 30, 2023, 5:00 pm EDT

Cryptocurrencies Could Join Mainstream Portfolios Amid Regulatory Clarity, Franklin Templeton Predicts

Cryptocurrencies could soon become conventional parts of investors’ portfolios, provided the regulatory landscape in the U.S. becomes clear, according to asset management giant Franklin Templeton, which oversees over $1.4 trillion in assets. Currently, investors have the option to purchase cryptocurrencies directly, but the avenues for incorporating these digital assets into traditional portfolios remain limited, noted Sandy Kaul, head of digital asset and industry advisory services at Franklin Templeton. Earlier this month, BlackRock, the world’s largest asset manager, led the charge by filing an application for a Bitcoin-backed exchange-traded fund (ETF) with the U.S. Securities and Exchange Commission (SEC). Following BlackRock’s

2 minutes

satoshin • Jun 30, 2023, 4:48 pm EDT

SEC Cites Lack of Clarity in Spot Bitcoin ETF Applications Amid Industry Surge

The Securities and Exchange Commission (SEC) has recently voiced its concerns over the increasing wave of spot bitcoin exchange-traded fund (ETF) applications. As reported by the Wall Street Journal, the regulatory body finds the filings lack sufficient clarity and comprehensive details, leading to a potential roadblock in the process. A number of well-known financial firms including BlackRock, Fidelity Investments, Ark Investment Management, Invesco, WisdomTree, Bitwise Asset Management, and Valkyrie have recently amended or reactivated their spot bitcoin ETF applications. Approval of these ETFs would represent a significant development for the crypto industry, expanding institutional access to Bitcoin and simplifying trading

3 minutes

satoshin • Jun 30, 2023, 3:19 pm EDT

Voatz Hits 125-Election Milestone, Reinforcing the Future of Voting is Mobile

In a world that is increasingly turning to digital solutions, the mobile voting platform Voatz has recently marked a significant achievement – the completion of its 125th election. This development not only signifies the company’s continuous growth but also underscores the expanding adoption of mobile voting as a secure, accessible, and streamlined approach to democratic participation. With a mantra that ‘the future of voting is mobile,’ Voatz leverages sophisticated smartphone security, identity verification techniques, biometrics, and blockchain technology to protect voters’ information and ensure a secure voting process. This has led to the company being recognized by prominent organizations, with

2 minutes

satoshin • Jun 29, 2023, 4:08 pm EDT

Fidelity Investments Refiles Spot Bitcoin ETF Application Amid Increasing Institutional Interest

In a notable development underscoring the escalating institutional interest in Bitcoin, Fidelity Investments, one of the world’s largest asset management firms, has refiled its application for a spot Bitcoin ETF (Exchange Traded Fund). This move follows similar filings from several financial heavyweights, reinforcing Bitcoin’s growing acceptance among traditional investors. The momentum kicked off when BlackRock, one of the most prominent global asset management firms, submitted its spot Bitcoin ETF application. While it was not the pioneer in this space—ARK Investments and 21Shares had already submitted their spot ETF applications—it triggered a domino effect in the industry. Soon after, investment firms

2 minutes

satoshin • Jun 29, 2023, 3:42 pm EDT

MicroStrategy Continues to Accumulate Bitcoin

MicroStrategy, a business intelligence company based in Virginia, now best known for its Bitcoin holdings, has purchased an additional 12,333 BTC for approximately $347 million, according to a statement from Michael Saylor, the company’s founder and now prominent Bitcoin evangelist, on June 27. The average price paid per Bitcoin was $28,136. This latest acquisition brings MicroStrategy’s total Bitcoin holdings to 152,333 worth over $4.5 billion based on the current Bitcoin price. Bitcoin Beginnings MicroStrategy made its first investment in Bitcoin in August 2020 and has been accumulating ever since. The company’s bet on Bitcoin has tied its balance sheet closely to the performance of the asset. In

3 minutes

Nadine R • Jun 29, 2023, 11:35 am EDT

Coinbase Fights Back: Asserts SEC Lacks Jurisdiction Over Cryptocurrencies in Legal Response

In a pivotal turn of events in the world of cryptocurrency regulation, leading U.S. crypto exchange Coinbase has taken a bold stance against the U.S. Securities and Exchange Commission (SEC). Early Thursday, Coinbase filed its response to an SEC lawsuit, arguing that the regulator has overstepped its boundaries and violated due process rights. The SEC initiated legal action against Coinbase at the start of June, contending that a dozen of the cryptocurrencies offered on the exchange’s wallet or trading platforms constitute unregistered securities. In a move that shakes up the regulatory landscape, Coinbase has countered by asserting that these cryptocurrencies

3 minutes

satoshin • Jun 28, 2023, 5:20 pm EDT

Legal Action Stirs Up Nevada’s Financial Landscape: Prime Trust Faces Receivership Amidst Claims of Insolvency

In a recent ground-shaking development, Nevada’s Financial Institutions Division (NFID) has filed a legal petition against Prime Trust LLC, a blockchain-driven trust company, seeking to place it under receivership. This bold move comes in response to concerns raised over the company’s questionable operations and allegations of insolvency. This follows closely behind a Cease-and-Desist Order issued by the Division on June 21, 2023. The court petition provides a glaring insight into Prime Trust’s financial health, disclosing that the firm owes over $82 million in traditional fiat cash. Further, it reveals that the company lost access to certain “legacy” wallets holding cryptocurrency

2 minutes

satoshin • Jun 28, 2023, 4:17 pm EDT

GBTC surge by 80% in June

Grayscale’s Bitcoin Trust (GBTC) experienced an almost 80% surge in volume in June, coinciding with BlackRock and two other major financial companies filing applications to the U.S. Securities and Exchange Commission (SEC) for a spot bitcoin exchange-traded fund (ETF). GBTC’s trading volume climbed to $45 million in June, solidifying its standing as the most traded trust product in the sector, accounting for a whopping 74% of total trade volumes, as reported by CCData. This increase aligns with a wave of ETF filings in June by prominent firms such as Invesco, WisdomTree, and BlackRock. CCData attributed GBTC’s rise in volume and

1 minute

satoshin • Jun 22, 2023, 12:12 pm EDT

The Growing Influence of Cryptocurrency Legislation & Money in Politics

Cryptocurrency is no longer a niche market as it influences the political landscape with significant campaign contributions and policy decisions. The Bitcoin Advocacy Project, presidential candidates’ speeches, state-level initiatives, and the battle for regulation reflect cryptocurrency’s growing influence in shaping political outcomes.

3 minutes