Crypto Guides, Knowledge & Insights

Is It Too Late For The U.S To Secure Its First Bitcoin ETF This Year?

In one of our recent reports, we highlighted the growing optimism that a cryptocurrency ETF might be approved by the US SEC this year based on the sentiments expressed by SEC commissioner and crypto enthusiast, Hester Pierce, who said the cryptocurrency industry was being treated unfairly and being judged by a higher benchmark than traditional markets in the issue of ETFs.　　More recently, during her live session at the B-Word conference last month, she again expressed her displeasure with the current situation in which the SEC was yet to approve any Bitcoin ETF in the US saying “I would never have imagined that I would be in this situation where we would not yet have approved one and other countries are moving ahead.”　　While the community is still hopeful of getting approval of at least one of the ETF applications sitting with the SEC, with just four months left in 2021, those hopes seem to be weakening.　　Currently, there are at least 12 Bitcoin ETF applications sitting with the SEC and several Ethereum ETF applications too. The first, VanEck Bitcoin trust, was filed in March 2021 by a global investment management firm, VanEck. The firm has had several of its Bitcoin ETF applications

2021-08-05Deep Dive

Indian Olympic Medal Winners to Get Free Bitcoin (BTC) and Ethereum (ETH)

The cryptocurrency platform Bitbns intends to open a systematic investment plan (SIP) in digital assets for Indian athletes who win medals at the ongoing Tokyo Olympics. The exchange will reportedly grant around $2,700 in crypto for gold medal winners.　　‘Faster, Higher, Stronger’ And Earn Crypto　　The Economic Times reported that Indian athletes at the Olympic Games could receive cryptocurrencies as a gift if they manage to win a medal at the tournament in Tokyo.　　The trading venue that will reportedly provide the offer is Bitbns. The first athletes that can get cryptocurrency exposure for free are the winners Mirabai Chanu and PV Sindhu. The former won a silver medal in 49 kg women‘s weightlifting while the latter acquired bronze in the women’s singles badminton at the Tokyo Olympics.　　Bitbns plans to roll out a SIP account and grant nearly $2,700 in digital assets for Olympic champions, $1,350 for silver medal winners, and $675 for bronze medalists. It will transfer the amount into their accounts, and after completing the Know Your Customer (KYC) norms, the athletes will have exposure to cryptocurrencies like Bitcoin (BTC) and Ethereum (ETH).　　The trading venue explained that it would structure the SIP for a 3-5 year period, and thus the medal

2021-08-05Deep Dive

Marc Andreessen: Bitcoin Is a Fundamental Technological Transformation

Andreessen Horowitzs co-founder believes that digital assets are a technological transformation that is spreading rapidly around the globe.　　The co-founder of Andreessen Horowitz – Marc Andreessen – highlighted cryptocurrencies and blockchain technology as a financial revolution. He also praised bitcoin, saying it is not only a digital asset but a network providing numerous options to investors.　　Cryptocurrencies Can Build Trusty Relationships　　During an interview for Bloomberg, the American entrepreneur Marc Andreessen revealed his reasons what makes digital assets an enduring investment option. He stated that one of their main qualities is that they can “form trusty relationships in an untrusty environment.” He went further, opining that virtual currencies represent a “fundamental technological transformation:”　　“We view it as a fundamental technological transformation. So there‘s a fundamental breakthrough that has actually happened. So it’s the ability for a lot of people and software on the Internet to be able to form trusty relationships in an untrusty environment.”　　Andreessen Horowitzs co-founder said that the asset class could be kind of confusing for investors. To him, it is like “the parable of the blind man and the elephant,” and that is one reason why some people get distracted and carried away. Still, he outlined that cryptocurrencies and the underlying

2021-08-05Deep Dive

‘Luaskan Kuasamu’ Dalam Teknologi Blockchain, JDT Bakal Lancarkan Koleksi NFT!

Keputusan yang diambil secara tidak langsung membuka ruang kepada peminat untuk sentiasa dekat dengan kelab tersebut melalui koleksi digital NFT.　　Jelas JDT melalui kicauan twitt, NFT yang bakal dilancarkan merupakan hasil kerja seni yang diinspirasikan oleh kelab pasukan skuad Harimau Selatan itu.　　Pemilikan koleksi digital tersebut itu dapat dibuktikan melalui teknologi blockchain.　　Pengumpulan koleksi NFT JDT juga menawarkan peminat peluang untuk menikmati pengalaman sekali seumur hidup seperti hospitaliti ruang korporat ketika menonton acara di stadium, bersantai bersama pemain pasukan utama atau memiliki akses eksklusif terhadap aset-aset bersejarah JDT.　　JDT nampaknya komited untuk lebih menghargai penyokong-penyokongnya sebagai pemain ke-12 dan berharap teknologi blockchain dapat mengeratkan hubungan mereka selain membuka mata terhadap potensi dunia digital di masa hadapan.

2021-08-05Deep Dive

Mastercard: Kad Pembayaran Kripto Bakal Jadi Suatu Yang ‘Mainstream’

Dalam salah satu catatan rasmi yang diterbitkan pada hari Selasa, pertukaran aset kripto mendedahkan bahawa kad CoinJar baru akan membolehkan pengguna membuat pembelian dengan aset kripto mereka di mana sahaja Mastercard diterima.　　Inisiatif ini akan membolehkan rakyat Australia menggunakan aset kripto mereka tanpa perlu menukarkannya terlebih dahulu kepada matawang fiat sebelum membuat pembayaran. Dengan kad CoinJar, pengguna hanya perlu memilih aset kripto yang ingin digunakan sebagai pembayaran kemudian ia ditukar secara automatik sebelum transaksi berlaku.　　Selain itu, pertukaran kripto tersebut turut menjanjikan kepada pengguna beberapa faedah lain termasuk pangaktifan percuman, bayaran bulanan sifar dan tawaran hadiah. Menurut CoinJar, kad Coinjar tidak mempunyai yuran bulanan dan yuran transaksi serendah 1%.　　Kad ini mempunyai 30 aset kripto yang disokong termasuk kripto seperti Bitcoin, Ethereum, dan XRP. Seperti yang diumumkan, kad CoinJar akan tersedia untuk pengguna dalam bentuk digital dan fizikal, termasuk sokongan aplikasi Apple Pay dan Google Pay.　　Sejak akhir-akhir ini Mastercard telah menunjukkan minat yang ketara dalam industri kripto. Ketua Pegawai Eksekutif syarikat percaya kad kripto akan menjadi kebiasaan dalam industri dengan lebih banyak perniagaan seperti Visa dan Mastercard ingin melakukan inovasi sedemikikan.

2021-08-05Deep Dive

Axie Infinity Generated More Revenue than Bitcoin or Ethereum in July

A groundbreaking month of July saw Axie Infinity earn more revenue than Bitcoin, Binance Smart Chain, Uniswap, or even Ethereum.　　Blockchain Gaming Is Exploding　　The heavily mediatized price rise of Axie Infinity has seen the blockchain game climb up the rankings of revenue-generating crypto protocols. According to Token Terminal, Axie Infinity is the single highest-earning protocol for July.　　Protocol Revenue in July. Source: Token Terminal.　　Axie Infinity claims that top spot ahead of entire blockchains such as Ethereum, Binance Smart Chain, and Bitcoin. The game also generated more revenue than decentralized exchanges Uniswap, PancakeSwap, or lending protocol Aave. In July, Axie Infinity saw more than $200 million in revenue. Annualized, this would suggest Axie Infinity has the potential to see more than $2 billion in revenue during the coming year.　　Axie is also the first NFT product ahead of CryptoPunks, ArtBlocks, or NBA Top Shot in terms of the trading volume. Most impressively, AXS trading represented more than four times the volume of CryptoPunks, who have seen an impressive revival in the last few weeks.　　The number of daily active players is also fast approaching one million, as gamers from countries like the Philippines continue to join the game in droves. In their most recent update,

2021-08-05Deep Dive

Former CFTC Chair Says Only the CFTC Has Experience Regulating Crypto Markets

Chris Giancarlo, the former Chairman of the United States Commodity Futures Trading Commission (CFTC) has revealed that it is the commission, and not the Securities and Exchange Commission (SEC) that has the experience regulating the Bitcoin (BTC) and broader crypto market. Taking to his Twitter handle, Giancarlo, who served as the 13th CFTC boss under President Donald Trump said if the Bidens Administration is keen on regulating the market, it will appoint a new CFTC Chairman.　　Crypto regulation in the United States is a very polarized subject with diverging approach from various US agencies. The ascension of the current SEC Chairman Gary Gensler has been tipped to usher in the needed normalcy and provide the direction the nascent ecosystem requires, however, the regulation approach has been stalled since Gensler was sworn in back in April.　　Over time, the CFTC has taken a proactive stance when it comes to the crypto ecosystem. Most of the position of the agency, through its top leaders are often antagonistic to those of the SEC. While the SEC took a legal action against blockchain payments firm Ripple Labs on the grounds that its associated crypto, XRP is a security, several CFTC executives have often maintained a contrary

2021-08-05Deep Dive

Bitcoin Entities Growth Hits New All-Time High: Report

Fresh data provided by Glassnode analytics vendor shows that the net growth of Bitcoin entities has surged to a new all-time high.　　Bitcoin entities net growth soars to historic peak　　The CIO of Moskovski Capital has commented that, this time, the number of active Bitcoin network participants has been growing at the fastest scale on an average weekly basis.　　The chart does not, however, cover the last week (from July 27 until today), according to Lex Moskovski.　　Bitcoin whales holdings at the highest point since April　　Santiment analytics firm has shared a chart that shows that Bitcoin addresses that include small-scale whales (those holding up to 1,000 BTC) have been accumulating the flagship crypto heavily as of late.　　Overall, wallets holding between 10 and 1,000 Bitcoins have grown to number 144,970, according to the chart. This is the highest peak since April.　　Bitcoin wallets that contain 1,000 BTC and more mostly remain inactive.

2021-08-05Deep Dive

Grayscale Appoints 20-Year ETF Veteran to Focus on its Bitcoin ETF Launch

Grayscale, the worlds leading asset manager is quite focused on its goal of converting its premium bitcoin offering, Grayscale Bitcoin Trust (GBTC) into a Bitcoin ETF. The digital asset management firm announced the appointment of 20-year ETF veteran Dave Lavalle as its first Global Head of ETFs.　　More than a dozen companies have filed for a Bitcoin ETF with the US Securities and Exchange Commission (SEC), however, the chief regulatory body is yet to decide on any of the filings. SEC has already delayed its decision on three Bitcoin ETFs till now. Despite lack of clarity from the chief regulatory body, Grayscale CEO Michael Sonnenshein believes its only a matter of “when” rather than “if” suggesting the SEC would eventually approve the much-awaited regulated Bitcoin investment product.　　Lavalle didnt offer his views on when he thinks the Bitcoin ETF would be passed but said it is just one step above the evolutionary ladder of ETFs. He said,　　“The notional Bitcoin ETF coming to market is simply not a new story. Its just the next story in the evolution of the exchanger to profit marketplace. So obviously, we started with, you know, domestic equity market-cap-weighted index-based products. And then we moved into international equities,

2021-08-05Deep Dive

First EU-Regulated ETF That Tracks Bitcoin Price to Launch in France

Melanion Capital, a prominent French investment management company, is set to launch an exchange-traded fund that tracks the price of Bitcoin through a basket of equities, according to a Financial Times report.　　Its shares will be trading on the Euronext stock exchange in Paris.　　What makes this ETF stand out is its UCITS status, which means that its regulated throughout the European Union.　　While strict standards prevent Melanion Capital from offering access to the real thing, there is a 90 percent correlation ratio between its index and the price of Bitcoin.　　The fund offers exposure to such companies as Galaxy Digital, Riot Blockchain, Voyager Digital and others.　　As reported by U.Today, cryptocurrency asset management firm Bitwise launched a similar ETF that tracks the stocks of publicly listed crypto companies in the U.S back in May.

2021-08-05Deep Dive