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Cryptocurrency News and Public Mining Pools

SEC pushes deadline for ARK 21Shares spot Bitcoin ETF to January

The commission gave itself an additional 60 days to consider the listing of ARK 21Shares’ investment vehicle on the Cboe BZX Exchange, with a final deadline set for Jan. 10.

Bitcoin In Spotlight: Robert Kiyosaki Questions BTC’s Future Amid Citibank’s Blockchain Play

The financial sector was abuzz recently, with Citibank announcing a platform backed by blockchain technology to transform institutional savings into tokens. This news drew interest from various quarters, including prominent financial educator and “Rich Dad Poor Dad” author Robert Kiyosaki, who tied it to Bitcoin. Using the X (formerly known as Twitter) platform, Kiyosaki expressed curiosity about the potential ramifications this could have for Bitcoin and the US dollar, igniting a flurry of responses from the online community. Related Reading: Why This Bank CEO Wants 99% Of The Crypto Industry Gone Citibank’s Dive Into Tokenization Citibank’s recent dive into the realm of blockchain technology marks a significant shift for the institution. Their new offering, a tokenization service, specifically focuses on cash management within the finance sphere. This latest development is tailored to cater to institutional clients’ unique needs, leveraging blockchain technology’s features and smart contracts. The announcement by the bank provides a deeper insight into the vision behind this initiative. According to the update, Citibank intends these smart contracts to act as modern substitutes for long-standing banking instruments like bank guarantees and letters of credit. The decision symbolizes not just an adaptation to current technological trends but a response to the changing dynamics of the financial world. At its core, Citibank’s strategy revolves around recognizing and meeting the growing demand for ‘always-on,’ flexible financial services. This demand comes in an age where businesses operate globally, and the need for instantaneous transactions is paramount. To address this, Citi Token Services is poised to change how institutions handle their finances. The service promises to enable uninterrupted cross-border payments, ensure liquidity, and deliver automated trade finance solutions, all operating on a 24/7 basis.  Kiyosaki’s Inquiry And The Crypto Community’s Response Kiyosaki’s inquiry on the X platform was straightforward: with Citibank’s new technological adoption, is this the end of Bitcoin and the US dollar as we know them? The crypto community was swift in its response, dismissing any looming threats to Bitcoin due to Citibank’s tokenization initiative. BYE BYE Bitcoin & US Dollar? Citibank announced today it is offering bank block chain technology to turn institutional savings into Citibank tokens which can be used for instaneous 24/7 cross border transactions. Bye bye BC & US $? — Robert Kiyosaki (@theRealKiyosaki) September 26, 2023 Shivam Sharma, a user on the X platform, emphasized the unique value proposition of Bitcoin, noting that Citibank’s tokens are essentially digital ledgers. They operate in a different space, he suggests, from Bitcoin, which has carved its niche as a decentralized currency. Related Reading: Is The Bitcoin Dream Fading? Glassnode Data Reveals Newbies Facing Steep Losses Another user with the handle Happenings NFT said: A software is not an asset & other banks don’t trust other banks. Banks will need a third party to facilitate instant cross-border payments because they don’t trust each other. This is why the JPM coin didn’t work.” Featured image from iStock, Chart from TradingView

Question about arbitrum

If I made an eth transaction using those side chains, and then assume those side chains have somehow vanished, will my transaction also vanish in return? How do they guarantee that the transaction will exist in ethereum blockchain? submitted by /u/Zweckbestimmung [link] [comments]

US lawmakers call on SEC chair to approve spot Bitcoin ETFs 'immediately'

The members of the House Financial Services Committee are expected to question Gary Gensler during a Sept. 27 hearing on SEC oversight.

Upcoming Optimism Unlock Threatens To Drag OP Below $1

The Optimism native token OP is now in the line of fire with millions of tokens set to be released into circulation. This threatens the altcoin’s price which is already on a downward spiral after carrying out its 3rd airdrop. Optimism Set To Unlock 24 Million Tokens In the latest iteration of its token unlock events, the Optimism network is looking at over 24 million tokens being unlocked and brought into circulation. On-chain token tracking website Token Unlocks reports that the 24.16 million token is worth approximately $30.7 million at current prices. Related Reading: Market Analysts Outline When The First Spot Bitcoin ETF Will Be Approved The token unlock event will take place on September 30, which is less than four days from the time of writing. This will see the equivalent of 3.03% of the total OP supply being released into circulation at once. 24.16 million tokens set to be unlocked | Source: Token Unlocks This is coming just one month after the network locked an equivalent amount on August 30. Just like the August unlock, the 24.16 million tokens are allocated to two groups. 12.75 million tokens worth $16.19 million are going to Core Contributors and 11.41 million tokens worth $14.49 million will go to Investors. The Optimism unlock event is the largest of the over $54 million in token unlocks expected to happen over the next seven days. Other notable unlocks include SUI unlocking 4.9% of supply worth $16.92 million and Yield Guild Games (YGG) unlocking 6.7% of supply worth $2.55 million. Gauging The Impact on OP Price A good way to figure out how the OP price might react is to look at historical performance during similar events. In the case of the OP price, there is no need to look too far back as the last token unlock event happened only a month ago. On August 30, Optimism unlocked an identical number of tokens and the price reacted negatively to this new supply. OP initially held tight around the $1.5 mark but once the unlock was completed, the price of the token nosedived, dropping from $1.5 to $1.3 in the span of two days. Related Reading: $200 Million In Crypto Lost As Mixin Network Comes Under Attack This shows that token unlocks, especially with the size of the upcoming Optimism unlock, are inherently bearish for price. If the historical pattern holds, then the OP price could easily succumb to the bears and threaten the $1 mark. At the very least, the impact of this new supply could lead to a 10% decline, which would put the OP price just above $1.1. Even now, OP is already feeling the impact of the incoming bearish sentiment. Over the last week, the price has plummeted more than 10%, bringing it below the $1.3 resistance. OP price threatened with new unlock | Source: OPUSDT on Featured image from iStock, chart from

Bitwise amends spot Bitcoin ETF application with new, detailed argumentation

The amendments tackle arguments made by the SEC against the use of the CME BTC futures market for surveillance sharing.

CBDCs could support a more stable economy — if banks pull the strings

Central bank digital currencies (CBDCs) could confer economic benefits if governments don’t use them to cannibalize the commercial banking industry.

Former White House official will lead Ripple's policy and government arm

Ripple’s newest head of U.S. public policy previously worked in similar roles at Softbank Group, Zoom, and Lyft following six years in government.

Bitcoin Spot Trading Volume Hit Six-Year Low – Is Investor Confidence Rising?

Consistent with the volatile crypto market, the past few months have been filled with uncertainty for Bitcoin (BTC). However, the bears appear to be in control, with the premier cryptocurrency trending toward the $26,000 mark in the past few days. Despite the struggling Bitcoin price action, investors seem uninterested in taking short-term interests or cutting their losses, with BTC spot trading volumes hitting lows rarely seen in years. “Macroeconomic Scenario” Responsible For Bitcoin Volume Decline According to recent research from on-chain analytics provider CryptoQuant, Bitcoin spot trading volume has declined to a six-year low. This latest data, which tracks trading activity on various exchanges, shows the decline BTC volume has experienced in recent weeks. CryptoQuant data revealed that the transaction volume of Bitcoin across exchanges roamed between 8,000 and 15,000 daily transactions in the past week. This reflects an abrupt decline from the 600,000 daily transactions recorded in March 2023. Related Reading: Bitcoin Mega Whales Return To Selling Mode, More Downside Soon? Cauê Oliveira, a contributing analyst at CryptoQuant, attributed the growing fear around the macroeconomic scenario as one of the reasons for this short drop in BTC transaction volume. “The actions of the United States Central Bank perpetuate a constant feeling of uncertainty, leaving investors waiting for a possible recession,” Oliveira added. Last week, the US Federal Reserve (Fed) opted to keep the interest rates at the current level, ranging between 5.25% and 5.5%. This move aligned with existing economic policy in the United States and market expectations. Additionally, Oliveira referenced this downward trend in BTC spot volume as an interesting sign of “rising investor confidence.” It demonstrates that Bitcoin investors opt to hold their coins rather than sell them. Cauê Oliveira added: Instead of seeking quick profits through short-term trading, more and more people are viewing bitcoin and other cryptocurrencies as a long-term investment. They are more interested in holding their coins, believing in their future value, than selling at the first sign of profit. According to CoinGecko data, Bitcoin is currently valued at $26,154, with no significant price movement in the past day. BTC maintains its place as the largest cryptocurrency, with a market cap of nearly $510 billion.  Long-Term BTC Holders Continue To Show Faith A recent on-chain revelation by IntoTheBlock adds more weight to Oliveira’s analysis. The crypto analytics platform disclosed that Bitcoin long-term holders seem unfazed by the current market conditions as they continue to hold their assets. According to data from IntoTheBlock, the cryptocurrency’s long-term “hodlers” hold 13.44 million BTC, which is merely short of the record of 14.599 million. This amount currently held by long-term “hodlers” accounts for 69% of Bitcoin’s circulating supply. Related Reading: Bitcoin Price Predictions For 2024: Insights From Major Banks To Hedge Funds By IntoTheBlock’s definition, long-term holders refer to investors and entities who bought their coins at least a year ago.  Bitcoin price approach $26,000 on the daily timeframe | Source: BTCUSDT chart on TradingView Featured image from iStock, chart from TradingView