REGULATIONS AND INNOVATIONS: CRYPTO AND TECH HIGHLIGHTS OF THE WEEK
Spot Bitcoin ETF’S Still a long way off as the Market continues to experience some bullish triggers. We explore this week in crypto and Tech below.
SEC Delays Spot Bitcoin ETF Decision for Ark, BlackRock, Invesco and Bitwise
The United States Securities and Exchange Commission (SEC) has delayed its decision on several proposals for spot Bitcoin exchange-traded funds (ETFs), including those from BlackRock, Ark/21Shares, Invesco, Bitwise, and Valkyrie.
These Delays come ahead of an anticipated government shutdown. Bloomberg ETF analyst James Seyffard expects that the application from Fidelity, VanEck, and WisdomTree will also be delayed by the SEC.
Microstrategy Acquires More Bitcoin
Microstrategy has secured an additional 5,445 BTC, taking its entire stash to 158,245 BTC. Spending an average of $29,582 per bitcoin, the company has invested approximately $4.68 billion in total.
As BTC’s price hovers around $26,000, Microstrategy remains bullish, reinforcing its strong belief in the cryptocurrency’s future. Their recent stock issuance also fetched them around $147.3 million.
US Congressman Calls to Fire SEC Chair Gary Gensler
US congressman Warren Davidson has called for the sacking of SEC Chairman, Gary Gensler. Davidson made the call, citing abuse of power and pushing political agenda as Gensler testified before the house financial committee on 27 Sept.
Binance Announces Sale of Its Entire Russia Operations to Commex, Marking Its Exit From the Country
Binance, the world’s largest cryptocurrency exchange, has revealed its decision to sell its entire Russia-based operations to CommEX.
Noah Perlman, Binance’s Chief Compliance Officer, explained that “operating in Russia is not compatible with Binance’s compliance strategy” as they focus on regulatory adherence in more than 100 other countries.
Bitboy Arrested for Lamborghini Theft Attempt
Ben Armstrong, popularly known as BitBoy, has been confirmed incarcerated by the local Sheriff’s Office in Georgia.
Armstrong livestreamed an incident where he tried to steal a Lamborghini from a former business associate, accompanied by his mistress — with whom he had an affair while married.
Throughout this, he was armed and reportedly under the influence of narcotics. Additionally, law enforcement found illegal narcotics in his vehicle.
NASA to Use Blockchain to Verify Upcoming Moon Landings
NASA, in partnership with Lonestar and the Isle of Man, is leading the way in adopting blockchain technology to authenticate lunar missions, commencing with the Artemis program. Come February 2024, a payload featuring “data cubes” will journey to the moon, with their integrity safeguarded and confirmed via blockchain upon their return to Earth.
The overarching objective is to furnish indisputable evidence of human lunar presence during Artemis 3 in 2025. The collaboration extends beyond mission verification but is a step toward debunking lunar landing conspiracy theories and ushering in a new era of lunar exploration.
OpenAI Rolls Out Voice and Image Capabilities for ChatGPT
OpenAI has announced a new voice and image conversation feature for its AI chatbot, ChatGPT.
The Voice capability and image detection Models will be available for both GPT- 3.5 and GPT-4. These additions aim to make ChatGPT more intuitive and enhanced.
Coinbase CEO Leads Crypto Push for New Rules
Brian Armstrong, CEO of Coinbase, leads the crypto industry’s advocacy for new regulations in Washington.
The “Stand with Crypto” movement, supported by over 50 crypto company founders, seeks clear rules to prevent job loss overseas.
Armstrong emphasizes the urgency of addressing regulatory gaps to keep innovation and jobs within the United States. Although progress is being made in the House regarding legislation, the path through the Senate remains unclear.
Huobi Global hacked for $7.9M: Report
Huobi Global’s HTX exchange was hacked on September 24, resulting in a $7.9 million crypto loss, as reported by Cyvers.
A Huobi hot wallet sent a message to its attacker in Chinese. The exchange claims to know the attacker’s identity and has proposed letting them retain 5% of the stolen funds as a “white-hat bonus” if they give back the other 95%.