Bitcoin ETFs and CBDCs: A Game-Changing Week in Crypto

1ATH.Studio
3 min readJan 19, 2024

Amidst a week of significant milestones, the spotlight shines on the advancements in Spot Bitcoin ETFs and the burgeoning world of CBDCs

Donald Trump Vows to ‘Never Allow’ Creation of a CBDC if Elected

Former U.S. President and current presidential candidate Donald Trump takes a firm stance against the creation of Central Bank Digital Currency (CBDC) in the United States.

During a campaign speech in Portsmouth, New Hampshire, Trump emphasized his commitment to shielding Americans from what he terms ‘government tyranny’, explicitly stating his opposition to the establishment of a CBDC. This promise reflects his stance on financial sovereignty and digital currency regulation.

Cumulative Spot Bitcoin ETF Volume Crosses $11 Billion on Fourth Day of Trading

The cumulative trading volume of 11 spot bitcoin ETFs has skyrocketed to $11.1 billion within their first four days, dominated by Grayscale, BlackRock, and Fidelity with over 90% of the market share.

Despite a slight dip in daily volume to $1.5 billion, the ETFs are reshaping the crypto landscape, drawing millions of investors. Bitcoin’s price, however, dropped to $42,602 from its recent high of $48,000

Binance Users Strategize Class-Action Lawsuit Against Ronaldo

Binance users in a lawsuit against Cristiano Ronaldo are attempting to serve him via X (formerly Twitter).

The Jan. 16, 2024 motion suggests using email, X, and website publication for alternative service, claiming compliance with international agreements and effective notice to the defendant.

OpenAI’s AI Military Use Policy Debated at World Economic Forum

At the World Economic Forum in Davos, the use of artificial intelligence in military applications sparked intense debate. OpenAI, facing scrutiny, clarified its stance after recently modifying its terms of service, which had previously barred the use of ChatGPT for military purposes. Anna Makanju, OpenAI’s Vice President of Global Affairs, emphasized the revision aimed for clarity on what is feasible with AI technologies.

CoinGecko Report: Over 50% of Cryptocurrencies Pronounced Dead

CoinGecko reports that more than 50% of the cryptocurrencies listed on its platform have ceased to exist.

Among the over 24,000 cryptocurrencies listed since 2014, a total of 14,039 have met their demise.

Bitcoin Proponent Vivek Ramaswamy Withdraws From US Presidential Race

Entrepreneur and Bitcoin supporter, Republican presidential candidate Vivek Ramaswamy, has withdrawn from the 2024 race following a poor showing in the Iowa caucuses.

Bitcoin Surpasses Silver in U.S. ETF Commodity Asset Class

Bitcoin has overtaken silver to become the second-largest Exchange-Traded Fund (ETF) commodity asset class in the U.S., measured by assets under management (AUM). Previously second to silver, Bitcoin ETFs, including Grayscale’s GBTC trust conversion, now collectively hold an impressive 647,651 bitcoins

MEME OF THE WEEK

Edward Snowden Tackles JP Morgan CEO Jamie Dimon on Bitcoin ETF Approval Comments

Edward Snowden,the former National Security Agency contractor humorously commented on JP Morgan CEO Jamie Dimon’s reaction to the SEC’s approval of a Bitcoin ETF. He humorously tweeted that the ETF approval made Dimon to spend one half of every interview insisting , “I don’t care about Bitcoin,” and the other half sobbing that it stole his wife and shot his dog.”

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