Business
Wazupnaija – Naija Entertainment blogs & Forums – Business
Biggest Bitcoin fund in the world could become ETF by July as GBTC nears $40B AUM
Grayscale could launch its Bitcoin (BTC) exchange-traded fund (ETF) as soon as July 2022, one of its executives has said. Speaking at a virtual event organized by MarketWatch on Oct. 27, Grayscale global head of ETFs David LaValle gave a nine-month timeline for approval by United States regulators. Grayscale: Now’s the time to file for an ETF Grayscale, which runs the largest-volume Bitcoin investment product globally, the Grayscale Bitcoin Trust (GBTC), reiterated this month that it is “committed” to transforming it into an ETF. According to LaValle, the timing for submitting the application to do so this week was ideal. “We thought it was the perfect time to submit our filing,” he said. “Now that the Bitcoin futures products were somewhat off the plate of the SEC, they would be open to l...
Huobi closes crypto derivatives as part of wind-down for Chinese traders
Major cryptocurrency exchange Huobi has ended futures and other derivatives trading in mainland China today, as planned. Earlier this month, cryptocurrency exchange announced on its website that it will settle all futures, contracts, and other derivatives activities for all Chinese consumers today, as part of the larger plan to cease operations in the country. According to previous announcements, Huobi, China’s largest exchange, will today completely shut down futures, contracts and other derivatives functions for all Chinese users. https://t.co/TNx4CvrzJ7 — Wu Blockchain (@WuBlockchain) October 29, 2021 Huobi was the first exchange to announce that it would withdraw from mainland China due to the Chinese government’s persistent refusal to lift its Bitcoin ban. On Sept. 24, the...
Major Russian bank explores crypto investment amid strong demand
Tinkoff Investments, the online brokerage of major Russian private bank Tinkoff, is researching cryptocurrency investment services despite the Bank of Russia withholding the bank from launching such tools. Tinkoff Investments head Dmitry Panchenko claimed that the bank’s brokerage portal is considering projects related to cryptocurrency investment but it’s too early to discuss specific ideas. The company is now working on research and development initiatives targeting a range of crypto-related services, Panchenko said in an Oct. 28 interview with local news agency TASS. Tinkoff Investments is specifically looking at crypto products by companies like international payment giant PayPal, as well as crypto-friendly apps like Revolut and Robinhood. Panchenko emphasized that, despite local regul...
The Deals: A$AP Ferg Joins Roc Nation; UTA Music Signs Dillon Francis
Dillon Francis has signed with UTA Music to oversee the DJ’s film, television and alternative media pursuits in addition to his international touring business in Europe, the United Kingdom, Australia and New Zealand. Francis will continue to be represented by Canopy Media Partners and TMWRK. Having just put out his fifth record Happy Machine, Francis is working on endeavors outside of music, penning scripts for his animated series titled Gerald’s World, which is currently in development. He is also putting together a treatment for a show about his alter-ego DJ Hanzel. Big Loud Records has signed rising country singer Jake Worthington to its growing lineup of artists. Worthington, who emerged as a finalist on NBC’s The Voice in 2014,...
Bitcoin will be 100% green by 2030 says Hass McCook
Transition to green Bitcoin mining will not only mitigate environmental impact but will also be cost-effective for miners Hass McCook, a member of the Bitcoin Mining Council (BMC) stated that he believes that the cryptocurrency mining industry is on track to reach zero emission by 2030. The expert, known online as Friar Hass, told CoinTelegraph that immersive cooling technology will play a key role in assisting Bitcoin’s transition to green mining. The comments come amid reports of rising concerns among regulators across the world on the environmental impact of allowing Bitcoin mining in their jurisdiction. China has already begun a crackdown on mining operations over the last two months with many provinces preventing hydroelectric plants from supplying power to crypto miners. In New York,...
Monthly report: Bitcoin hits a new all-time high above $67k
The cryptocurrency market experienced rapid growth this month, with the total market cap reaching the $2.8 trillion mark for the first time. Bitcoin reaches a new all-time high at $67,200 The crypto market performed excellently this month, with the prices of most coins increasing in value by double-digit percentages. Bitcoin was one of the biggest winners this month, reaching a new all-time high above the $67,000 a few days ago. This is the first time the leading cryptocurrency is setting a new all-time high since April 2021. The cryptocurrency’s price could soar higher in the coming weeks and months if the market momentum can be sustained. Ether, the second-largest cryptocurrency, also reached a new all-time high this month. ETH touched the $4,416 level a few hours ago thanks to the Altai...
Trouble ahead for Dems: A barrage of attacks over the economy
Republicans plan to put economic issues front and center in the 2022 midterm campaigns by highlighting the soaring price of gasoline and some groceries and blaming Democrats for driving up inflation. It’s a double-barreled attack designed to zero in on the pain American consumers are feeling while ginning up opposition to legislation that Biden is hoping will become the linchpin of his economic agenda. Voters are “sick and tired of paying higher prices for everything because of these big-government Democrats and their reckless spending,” said Rep. Tom Emmer (R-Minn.), who chairs the National Republican Congressional Committee. “We’re going to win back the majority on those kitchen-table economic issues that Democrats always fail to deliver on.” Government data showed the U.S. economy grew ...
Shiba Inu price analysis: SHIB stays above $0.00007
The cryptocurrency market underwent a correction earlier this week, with Shiba Inu one of the top performers during that period. The crypto market is recovering from its recent correction, with the prices of most coins up by more than 1% over the past 24 hours. Bitcoin is trading above the $61k level after dropping below the $59k mark earlier this week. Ether set a new all-time high above $4,400 a few hours ago after rallying by more than 10% over the past 48 hours. The rally comes just a few days after Ether dropped below the 4,000 level. The other leading cryptocurrencies are also rallying at the time of this report. Shiba Inu has been one of the top performers over the past week, rising by more than 160% in the last seven days. The rally saw Shiba’s market cap grow to nearly $40 billion...
MicroStrategy added 9,000 BTC last quarter, its stash is now worth $7 billion
MicroStrategy added almost 9,000 Bitcoin to its holdings in Q3, bringing its total BTC stash to a valuation of around $7 billion. The company highlighted the purchase of 8,957 BTC in its Q3 report on Oct. 28, with the firm’s perma-bull CEO Michael Saylor stating that there is more BTC accumulation to come: “Today, MicroStrategy is the world’s largest publicly traded corporate owner of Bitcoin with over 114,000 Bitcoins. We will continue to evaluate opportunities to raise additional capital to execute on our Bitcoin strategy.” The software firm has increased its Bitcoin holdings by 198% since the same period last year, and as of Sept. 30 the total stood at 114,042 BTC with an estimated average purchasing price of $27,713 per coin, or a total spend of $3.16 billion. On paper, Microstrategy p...
Cathie Wood’s ARK snaps up $80M Robinhood shares after crypto led price dip
ARK Invest, the investment management firm focused on innovative tech led by Cathie Wood, took advantage of a dip in the price on Wednesday to buy nearly $80 million worth of Robinhood stock. As per daily trading data, Wood’s ARK purchased a total of 2.24 million shares of Robinhood across three of Ark’s ETF funds, with the majority of shares going to the flagship fund ARK Innovation ETF. Robinhood now accounts for 1.33% of the Innovation ETF. On Oct. 27, the trading platform had declared a 78% decline in crypto revenue — from $233 million in Q2 to $51 million in Q3 — which drove the share price down below its July IPO price of $38. The stock is down more than -11% since the start of the week, from $39.85 on Monday 25 Oct. to $35.47 as of market close Thursday 28 Oct. Following the earning...
Immersive cooling tech could help Bitcoin mining go green by 2030
Immersive cooling technology may help with the transition to zero-emission Bitcoin mining Bitcoin Mining Council (BMC) member Hass McCook told Cointelegraph. McCook, known online as Friar Hass, believes the industry is on track to hit the goal by 2030. Immersive cooling involves submerging Bitcoin mining ASICs into a specialized cooling fluid, which absorbs and recycles heat from the data center. This method of Bitcoin mining increases productivity. Earlier this month, Bitcoin mining company Riot Blockchain announced that it will be developing 200 megawatts of immersion-cooled Bitcoin mining infrastructure at its Whinstone Facility. Based on the company’s preliminary immersion-cooling test results, it expects hash rate to increase by 25%, and ASIC performance to increase by up to 50%...
Ethereum hits new ATH after Altair upgrade shows clear path to the merge
The price of Ethereum (ETH) has bounced to a new all time high (ATH) today as it hit $4,400.97 at around 1:02 am UTC, according to the ETH/USD price indexs on Coinbase and Coinmarketcap. At the time of writing, ETH is currently priced at $4,380, with the asset surging around 46.6% since the start of October. Coinmarketcap’s price index indicates that the previous ATH was only eight days ago, with the asset reaching a price of $4,308.48 on Oct. 21. ETH has been on a bullish tear since dropping to around $1,780 on July 21, and has since gained 147% to rise to a new point of price discovery. ETH/USD Chart October: Coinmarketcap Cointelegraph reported yesterday that the Ethereum 2.0 Altair Beacon Chain update had a successful start, with 98.7% of nodes upgraded at the time. A successful Altair...
