NewsBriefs - Bitwise amends S-1 for Ether ETF, hints at July trading start on NYSE Arca

Jul 3, 9:25 PM Cointelegraph

Bitwise amends S-1 for Ether ETF, hints at July trading start on NYSE Arca

Bitwise has updated its S-1 registration with the SEC, paving the way for a spot Ether ETF to be traded on NYSE Arca. The amendment includes a fee waiver and aims for a swift post-registration launch. While no specific date was provided, expert commentary suggests trading could commence in July, following the recent SEC filings and prior approvals for similar crypto ETFs.

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• Jul 6, 5:27 AM Cointelegraph

  Bitfinex to issue refunds for failed El Salvador Hilton hotel project

  Bitfinex Securities will refund investors after failing to meet the $500,000 minimum funding goal for its Hilton hotel project at El Salvador’s international airport. The project, El Salvador's first public offering of digital debt assets, only raised $342,000, falling short of the intended $6.25 million target. The funds were to finance a 4,500 square foot Hampton by Hilton hotel. Investors had been offered a 10% coupon over a five-year term for their investment in the "HILSV" token on the Bitcoin Liquid Network.

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• Jul 5, 10:00 PM Cryptoslate

  Bitcoin could surge with potential Trump presidential win: FT

  The possibility of Donald Trump's re-election is creating optimism among crypto traders, expecting a surge in Bitcoin's value due to Trump's favorable stance on crypto. Recent market volatility has been linked to regulatory actions and miner sales, but predictions suggest that Bitcoin could reach $100,000 should Trump secure a victory. This anticipation is compounded by the broader market implications of Trump's economic policies, which might lead to increased inflation and higher Treasury yields, presenting Bitcoin as a viable hedge against potential fiscal instability.

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• Jul 5, 8:52 PM The Block

  US House set for vote on overturning President Biden's veto of SAB 121 next week

  Next week, the US House will conduct a vote to potentially overturn President Joe Biden's veto of Staff Accounting Bulletin 121 (SAB 121), which mandates that firms holding cryptocurrencies for customers list these assets as liabilities. The previous House vote passed the measure, and a two-thirds majority in both houses is required to override the veto. Though challenging, supporters of the override believe success is possible given the bipartisan support observed in related crypto legislation.

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• Jul 5, 8:15 PM Crypto Briefing

  Mt. Gox Bitcoin movements trigger record liquidation levels

  The recent transfer of Bitcoin and Bitcoin Cash by Mt. Gox to a new wallet led to a drastic 6% drop in Bitcoin's price, causing over $1 billion in market liquidations, the highest since the FTX debacle. Despite a partial price recovery, ongoing investor fears and external pressures from US inflation concerns continue to influence market volatility. This incident underscores the market's sensitivity to major creditor payouts and regulatory remarks.

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• Jul 5, 6:30 PM Cointelegraph

  UK High Court freezes Craig Wright's assets after libel lawsuit loss

  The UK High Court issued a World Freezing Order on Craig Wright's assets to aid Peter McCormack in recovering approximately £1.5 million in legal fees after a lawsuit. Wright, who claimed to be Satoshi Nakamoto, the elusive founder of Bitcoin, lost the intellectual property case where evidence by the Crypto Open Patent-Disease Research Alliance (COPA) played a crucial role in disproving his claims. This decision not only impacts Wright's claims but also the broader Bitcoin ecosystem.

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• Jul 5, 4:09 PM CoinDesk

  Crypto fear & Greed index hits new low as Bitcoin drops below $54,000

  The Crypto Fear & Greed Index fell to 29, indicating extreme market fear, as Bitcoin's price slipped below $54,000. This sentiment reflects the most negative investor outlook since early January 2023, during the aftermath of the 2022 crypto winter, when Bitcoin was valued around $17,000. Key factors driving this downturn include significant selling by governments holding seized Bitcoin and preemptive market actions related to the Mt. Gox estate's payouts. With substantial assets still held by these bodies, continued pressure on crypto prices is expected.

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• Jul 5, 1:50 PM Crypto Briefing

  SlowMist reports a 50% increase in crypto security incidents in H1 2024

  In the first half of 2024, the crypto industry experienced a significant rise in security incidents, with a 50% increase from the previous year, resulting in losses worth $1.43 billion. SlowMist's report indicates that DeFi protocols were predominantly targeted, involving sophisticated attacks and substantial financial implications, particularly with Ethereum recording the highest losses. The landscape faced evolving threats, including new money laundering techniques and regulatory measures across various regions, further complicating the ecosystem's security challenges.

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• Jul 5, 6:45 AM Crypto Briefing

  Mt. Gox starts repayments in Bitcoin and Bitcoin Cash

  Mt. Gox, once the leading crypto exchange, has begun repaying its creditors with Bitcoin and Bitcoin Cash after almost a decade. The Tokyo-based exchange, known for handling over 70% of global Bitcoin transactions at its peak, faced significant security issues leading to its collapse in 2014 with a loss of nearly 744,408 Bitcoins. This repayment initiative follows the recent closure of a lengthy bankruptcy process.

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• Jul 4, 9:45 PM Cryptoslate

  German MP criticizes government's Bitcoin sales, warns of market impact

  Joana Cotar, a Bundestag member, has criticized the German government for selling a substantial portion of its Bitcoin holdings, recently transferring over $195 million worth of Bitcoin to exchanges like Coinbase, Kraken, and Bitstamp. She warned that these large-scale liquidations could destabilize the crypto market and negatively impact Bitcoin's value. Cotar's comments come amidst debates on Bitcoin's role as a strategic reserve currency in the US and precede a lecture on national Bitcoin strategies, aiming to discuss its potential in strengthening economies through innovative financial instruments like Bitcoin-backed bonds.

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• Jul 4, 6:15 PM Crypto Briefing

  Bitcoin's EMA 200 dip triggers mixed analyst views on potential rebound

  Bitcoin briefly fell below its important 200-day exponential moving average (EMA 200), stirring varied reactions among crypto analysts. Altcoin Sherpa minimized the dip's impact, suggesting it might be a buying opportunity despite expecting volatility and uncertainty about finding the bottom price. Conversely, Michaël van de Poppe and Rekt Capital observed potential further declines, with Bitcoin possibly reaching as low as $50,000. The recent 21% pullback in Bitcoin's price over 45 days aligns closely with historical retracement levels.

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• Jul 4, 2:11 PM Crypto Briefing

  SEC targets crypto venture capital firms in securities crackdown

  The Securities and Exchange Commission (SEC) has intensified its regulatory efforts by investigating cryptocurrency venture capital firms for potentially operating as unregistered securities dealers. This move is part of a broader SEC crackdown under Gary Gensler's leadership, targeting major crypto exchanges and now expanding to include venture capitalists and DeFi applications. The firms are scrutinized for their promotional activities and discounted token deals, which may conflict with securities laws, marking a significant shift in the enforcement landscape for the crypto industry.

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• Jul 4, 1:10 PM Crypto Briefing

  Bitcoin falls below $60K with market-wide liquidations topping $295M

  Bitcoin has dropped below $60,000, driven by significant selling pressure and triggering over $77 million in Bitcoin long liquidations. This event is part of broader market-wide liquidations totaling $295 million. Ether, SOL, and DOGE also experienced substantial losses. The anticipation of asset distribution from the defunct Mt. Gox exchange and potential miner sales has increased market uncertainty, contributing to the downturn. Despite this, derivatives traders maintain a positive outlook for future price increases, particularly in ether.

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• Jul 4, 12:10 PM Crypto Briefing

  Justin Sun proposes over-the-counter Bitcoin purchase from German government

  Justin Sun, founder of Tron, has offered to buy Germany’s Bitcoin holdings through over-the-counter deals to prevent market disruption. This proposal comes as Germany transferred 1,300 Bitcoin ($75.5 million) to exchanges, potentially signaling a liquidation or reallocation strategy. Germany’s total Bitcoin assets are valued at about $2.3 billion, raising concerns about market impact from large-scale transactions.

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• Jul 4, 3:10 AM Crypto Briefing

  El Salvador maintains daily Bitcoin buys despite market challenges

  Despite the recent plummet in Bitcoin prices influenced by Mt. Gox repayments and a downbeat economic forecast, El Salvador continues its strategy of purchasing one Bitcoin daily. The country has been accumulating Bitcoin in a government-controlled cold wallet since mid-March, as part of President Nayib Bukele’s initiative which aligns with the nation's broader commitment to Bitcoin integration, including its status as legal tender since September 2021.

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• Jul 3, 9:25 PM Cointelegraph

  Bitwise amends S-1 for Ether ETF, hints at July trading start on NYSE Arca

  Bitwise has updated its S-1 registration with the SEC, paving the way for a spot Ether ETF to be traded on NYSE Arca. The amendment includes a fee waiver and aims for a swift post-registration launch. While no specific date was provided, expert commentary suggests trading could commence in July, following the recent SEC filings and prior approvals for similar crypto ETFs.

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