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The SEC has approved dual Bitcoin and Ethereum ETFs from Hashdex and Franklin Templeton, enhancing institutional access to these major digital assets. This decision comes amid significant market volatility, with Bitcoin dropping below $96,000 and Ethereum falling to $3,440. Analysts predict that Litecoin may be the next candidate for ETF approval, while regulatory uncertainty lingers for Solana and XRP ETFs.
The second Trump presidency is expected to shift regulatory focus towards growth and innovation in banking, with changes in leadership at key financial agencies. Anticipated reforms may ease capital standards and facilitate fintech and cryptocurrency activities, while tax reform will likely prioritize the renewal of provisions from the 2017 Tax Cuts and Jobs Act. Additionally, the SEC is poised for a change in enforcement and rulemaking, particularly regarding climate disclosure rules, as the new administration may seek to repeal recent mandates and adjust the agency's focus on capital formation.
Franklin Templeton has filed for a dual crypto index ETF to track Bitcoin and Ether, coinciding with Bitcoin's stabilization at the critical $100K support level. Analysts predict that the SEC may approve this ETF alongside similar proposals from Bitwise and Hashdex in 2025, bolstered by recent regulatory appointments and a favorable market outlook. The proposed fund will focus solely on Bitcoin, Ether, cash, and cash equivalents, aiming to replicate the CF Institutional Digital Asset Index without engaging in staking or income-generating activities.
UBS has raised its target for Netflix and maintained a buy recommendation, as reported by Cercle Finance. BOURSORAMA, acting solely as a distribution channel, emphasizes that it has not influenced the analysis and holds no conflicts of interest regarding the investment recommendations provided.
Binance.US plans to restore USD services by early 2025, responding to user demand after suspending fiat trading in June 2023 due to regulatory challenges from the SEC. Interim CEO Norman Reed highlighted the importance of these services for operational functionality and user experience. Despite ongoing legal scrutiny, the exchange aims to enhance compliance, expand product offerings, and maintain competitive trading fees, positioning itself as a key player in the evolving crypto landscape.
Binance faced a significant error during the launch of the $PENGU token, misreporting its market cap as $350 million instead of the actual $3.5 billion for the first 30 minutes. This $3.15 billion discrepancy, caused by a delay from CoinMarketCap, led to market chaos. In response, Binance quickly collaborated with CMC to rectify the issue and is compensating affected traders with 135 million Pengu tokens while promising to enhance data accuracy in the future.
Ethereum's price fell to $3,540, a 10% drop, following a hawkish Federal Reserve announcement, while Ethereum ETFs saw inflows surpassing $2.46 billion over 18 days. Despite the decline, over 54.7 million ETH are staked, indicating strong long-term investor sentiment. The total value locked in Ethereum's DeFi ecosystem exceeds $73.7 billion, significantly outpacing competitors.
World Liberty Financial (WLFI) has exchanged $10.4 million worth of cbBTC for Wrapped Bitcoin (WBTC), influenced by major investor Justin Sun's criticism of cbBTC and Coinbase's controversial delisting of WBTC. This strategic pivot reflects WLFI's preference for WBTC's established reputation amid growing concerns over cbBTC's governance. Sun's involvement is expected to enhance WLFI's infrastructure through partnerships with Chainlink and TRON, positioning the project for future growth.
Dogizen's ICO has raised $1.8 million, positioning it as a potential top performer in the upcoming altcoin season. With the Telegram gaming market booming and meme coin popularity surging, Dogizen's unique approach combines these trends, attracting serious investors through its first-ever Telegram ICO. Priced at $0.000077, it offers significant growth potential as retail interest in altcoins is expected to rise.
Michael Saylor, co-founder and Chairman of MicroStrategy, has expressed his willingness to advise President-elect Trump on digital asset policies. MicroStrategy's shares have surged nearly 500% in 2024, driven by its aggressive Bitcoin acquisition strategy, raising questions about its long-term sustainability. The firm has also attracted significant interest from hedge funds, facilitating the issuance of $6.2 billion in convertible securities this year, while its market capitalization has surpassed $90 billion, leading to its inclusion in the Nasdaq 100 Index.
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