US Spot Bitcoin ETFs Attract $556M in Record Daily Inflows
Home About News Partners Contact Home About News Partners Contact Swap Welcome to the world of crypto US Spot Bitcoin ETFs Attract $556M in Record Daily Inflows On October 14, US spot Bitcoin ETFs saw their largest daily inflows in over four months, with $556 million pouring in as Bitcoin surged to $66,500. The inflows, the biggest since early June, brought total net inflows for these funds close to $20 billion over the past 10 months, according to data from Farside Investors. Fidelity’s Wise Bitcoin Origin Fund (FBTC) led the pack, with an impressive $239.3 million in inflows. Bitwise’s Bitcoin ETF (BITB) followed with just over $100 million, while BlackRock’s iShares Bitcoin Trust (IBIT) saw $79.6 million. Other major funds, including Ark 21Shares Bitcoin ETF (ARKB) and Grayscale Bitcoin Trust (GBTC), also recorded substantial inflows. The surge underscores growing interest from institutional investors, with ETF Store President Nate Geraci calling it a “monster day” for Bitcoin ETFs. Despite Bitcoin’s success, Ethereum ETFs did not experience similar momentum, with only minor inflows reported. Live News © 2024 CMTLive Telegram Twitter Medium
Breach of Cryptographic Algorithms with Quantum Computer
Home About News Partners Contact Home About News Partners Contact Swap Welcome to the world of crypto Scientists Breach Cryptographic Algorithms with Quantum Computer Chinese researchers have reportedly breached cryptographic algorithms using a quantum computer, marking a significant step towards quantum threats in encryption. Led by Wang Chao from Shanghai University, the team used a D-Wave Systems quantum computer to attack encryption standards such as Present, Gift-64, and Rectangle, widely used in cryptocurrency wallets. Their method, quantum annealing, allowed the computer to efficiently bypass traditional algorithmic barriers. Though this breakthrough shows the potential of quantum computing to challenge cryptography, significant limitations still prevent a full-scale quantum hack. Environmental factors, hardware limitations, and the challenge of creating a universal attack algorithm remain obstacles for now. However, researchers note that future advancements could lead to more powerful attacks, potentially exposing vulnerabilities in cryptographic systems. The findings were published in the Chinese Journal of Computers. Ethereum co-founder Vitalik Buterin has already proposed mitigation strategies for the threat of quantum computing. Live News © 2024 CMTLive Telegram Twitter Medium
Crypto Companies Paid $19B in Settlements to US Regulators
Home About News Partners Contact Home About News Partners Contact Swap Welcome to the world of crypto Crypto Companies Paid $19B in Settlements to US Regulators In 2024, U.S. regulators collected over $19 billion in settlements from crypto companies, accounting for nearly two-thirds of all settlements to date. According to a CoinGecko report, FTX and Alameda paid the largest portion, $12.7 billion, to the Commodity Futures Trading Commission (CFTC) in August. The total settlements this year marked a 78% increase from 2023, which saw $10.87 billion in payments, and a staggering 8,327% rise from 2022. The most notable settlements include Terraform Labs, which paid $4.47 billion to the SEC, and Genesis, which settled for $2 billion with the Office of the Attorney General. Analysts credit the collapse of major firms like Celsius and FTX for triggering a new wave of regulatory scrutiny in the crypto industry. With months remaining in 2024, more settlements may follow, solidifying this year as a record-breaking period for U.S. crypto regulation. Live News © 2024 CMTLive Telegram Twitter Medium
Former FTX Executive Ryan Salame Begins 7.5-Year Prison Sentence
Home About News Partners Contact Home About News Partners Contact Swap Welcome to the world of crypto Former FTX Executive Ryan Salame Begins 7.5-Year Prison Sentence Ryan Salame, a former executive at FTX, entered prison custody at FCI Cumberland on October 11, 2024. Salame was sentenced to 90 months for his involvement in the 2022 FTX collapse after pleading guilty to operating an unregulated money-transmitting business and violating campaign finance laws in 2023. Despite attempts to delay his surrender due to medical reasons, Judge Lewis Kaplan denied his motion. Salame, however, appeared unfazed by the sentence, even updating his social media profiles to reflect his inmate status. In a recent interview on the Unchained podcast, Salame admitted to withdrawing $600,000 in cryptocurrency during the FTX collapse, calling it “not my brightest moment. ” He explained that the funds were intended for legal fees, though some were later forfeited to the Department of Justice. Salame also expressed his intention to study law, not for a career, but to represent himself, criticizing the legal counsel he had received during his case. Live News © 2024 CMTLive Telegram Twitter Medium
Bitcoin ETFs Break Three-Day Outflow Streak with $254M Inflow
Home About News Partners Contact Home About News Partners Contact Swap Welcome to the world of crypto Bitcoin ETFs Break Three-Day Outflow Streak with $254M Inflow On October 11, U.S.-based spot Bitcoin exchange-traded funds (ETFs) saw net inflows of $253.6 million, reversing three consecutive days of outflows. Fidelity’s Wise Origin Bitcoin Fund led the pack with $117.1 million, followed by ARK 21Shares with $97.6 million. Bitwise also saw a boost with $38.8 million, its largest inflow in 11 days. Notably, BlackRock’s iShares Bitcoin Trust (IBIT) had no contributions, along with ETFs from Franklin Templeton, Valkyrie, and WisdomTree. Despite this, it was the third-largest inflow day without IBIT’s contribution. Grayscale Bitcoin Trust, however, continued to struggle, losing $22.1 million. The $253.6 million inflow exceeded the $140 million in outflows seen from October 8-10. This movement followed a 7.3% Bitcoin rally, hitting a local high of $63,360. Overall, U.S. spot Bitcoin ETFs have seen $18.9 billion in net inflows, with BlackRock leading at $21.7 billion and Fidelity nearing a $10 billion milestone. Live News © 2024 CMTLive Telegram Twitter Medium
Bitcoin Amsterdam 2024: Research Leads to Harmful Policies
Home About News Partners Contact Home About News Partners Contact Swap Welcome to the world of crypto Bitcoin Amsterdam 2024: Research Leads to Harmful Policies At the Bitcoin Amsterdam 2024 conference, speakers highlighted the damaging effects of flawed academic research on Bitcoin. Misinformation from these studies fuels media narratives, influencing public perception and resulting in misguided policies. During the “Beyond Resistance Money” panel, experts discussed how inaccuracies in Bitcoin-related research, such as emissions data, are often cited by journalists without thorough verification. Andrew Bailey from the Bitcoin Policy Institute pointed out a unit error in a widely-cited academic paper that has yet to be corrected, leading to ongoing misinformation. Bradley Rettler of the University of Wyoming emphasized that journalists rely on these flawed studies, further spreading inaccuracies. Craig Warmke warned that this misinformation impacts real-world policies, particularly around Bitcoin mining and privacy, with restrictive legislation emerging from these errors. The panelists stressed the need for more accurate research to inform better decision-making in the Bitcoin space. Live News © 2024 CMTLive Telegram Twitter Medium
Retail Investors Increasingly Buy Crypto Despite Volatility
Home About News Partners Contact Home About News Partners Contact Swap Welcome to the world of crypto Retail Investors Increasingly Buy Crypto Despite Volatility According to the International Organization of Securities Commissions (IOSCO), crypto ownership among retail investors has surged since 2020, despite significant market volatility. An Oct. 9 IOSCO report revealed that in 15 out of 24 jurisdictions surveyed, at least 10% of retail investors owned cryptocurrencies last year, with six jurisdictions reporting ownership levels of 30% or more. This marks a stark increase from 2020, when only 1% to 5% of investors in half the responding jurisdictions owned crypto. The report highlights ongoing risks such as market volatility, investor misunderstandings, regulatory gaps, and scams, echoing concerns from its 2020 findings. Despite high-profile bankruptcies and a bear market that saw indexes drop 73%, retail investor interest remains robust. Many new investors, particularly those under 40, are motivated by fear of missing out (FOMO), low entry costs, and social media advice. In the U.S., nearly 60% of investors under 35 have considered crypto investments, with 44% of Gen Z starting their investment journey in this space. IOSCO emphasizes the need for enhanced investor protection and education to navigate the evolving crypto landscape. Live News © 2024 CMTLive Telegram Twitter Medium
VanEck Launches $30M Ventures Fund for Crypto and AI
Home About News Partners Contact Home About News Partners Contact Swap Welcome to the world of crypto VanEck Launches $30M Ventures Fund for Crypto and AI VanEck, a major player in cryptocurrency ETFs, has launched VanEck Ventures, a $30 million fund aimed at supporting fintech, cryptocurrency, and AI startups. The fund, announced on October 9, 2024, focuses on investing in pre-seed and seed-stage companies that are building the next generation of financial technology. Key areas of investment for VanEck Ventures include tokenized assets, digital financial marketplaces, and payment systems based on stablecoins and tokenized capital markets. The initiative is led by Wyatt Lonergan and Juan Lopez, both formerly of Circle Ventures, where they successfully managed over $50 million in investments in early-stage firms. VanEck’s new fund underscores its commitment to fostering innovation in fintech and AI, especially in areas that promise to reshape global finance. By focusing on emerging technologies, VanEck Ventures aims to help startups revolutionize the way payments and financial services are handled in the digital era. Live News © 2024 CMTLive Telegram Twitter Medium
Archax, Assetera Partner to Offer Tokenized Real-World Assets
Home About News Partners Contact Home About News Partners Contact Swap Welcome to the world of crypto Archax, Assetera Partner to Offer Tokenized Real-World Assets Digital securities platform Assetera has partnered with UK-regulated digital exchange Archax to provide investors in the UK, European Union, and European Economic Area (EEA) with regulated access to tokenized real-world and digital assets. This collaboration aims to address key challenges in the RWA market, such as regulatory hurdles and liquidity limitations, while facilitating both primary and secondary market trading. The partnership initially focuses on tokenized money-market funds from asset managers like Abrdn and will expand to include more tokenized financial instruments such as securities, real estate, and commodities. By leveraging Archax’s digital infrastructure and Assetera’s compliance with EU regulations, this collaboration seeks to advance the adoption of tokenized assets in Europe. Additionally, Assetera’s platform, which integrates smart contracts on the Polygon blockchain, allows secure transactions using stablecoins for clearing and settlement. This effort aims to improve long-term liquidity and accessibility for European investors. Live News © 2024 CMTLive Telegram Twitter Medium
Epic Aims for Interoperable Metaverse with Unreal Engine 6
Home About News Partners Contact Home About News Partners Contact Swap Welcome to the world of crypto Epic Aims for Interoperable Metaverse with Unreal Engine 6 Epic Games is pushing towards a metaverse where games like Fortnite, Minecraft, and Roblox share a unified platform. With Unreal Engine 6 in development, CEO Tim Sweeney envisions a future where players can trust their digital purchases to work across multiple games, creating a seamless, interoperable digital economy. This could revolutionize the industry by allowing gamers to take their virtual assets across different gaming worlds. Sweeney believes the next step is breaking down the walls between game-specific economies, enabling players to use their items across different platforms. Epic’s vision aligns with concepts familiar to Web3, blockchain, and crypto communities, aiming to make digital goods last longer and enhance player trust. Saxs Persson, Epic’s executive vice president, highlighted the potential for collaboration between popular titles like Roblox, Minecraft, and Fortnite, making the metaverse a reality for gamers. Unreal Engine 6 aims to support these developments while introducing blockchain-based verification for cross-game compatibility. Live News © 2024 CMTLive Telegram Twitter Medium