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El Salvador stands at the forefront of cryptocurrency adoption wherein Bitcoin is recognized as legal tender. Since June 2021, it has been the first country to embrace Bitcoin alongside the US dollar for everyday transactions, making significant strides in the global crypto landscape. <\/p>\n\n\n\n

Under President Nayib Bukele, the government has initiated a groundbreaking project, where the state purchases one Bitcoin daily to bolster its reserves. <\/p>\n","post_title":"Bitfinex Securities Launches Tokenized Debt Offering For A Hotel In El Salvador","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"bitfinex-securities-launches-tokenized-debt-offering-for-a-hotel-in-el-salvador","to_ping":"","pinged":"","post_modified":"2024-04-14 00:03:52","post_modified_gmt":"2024-04-13 14:03:52","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16347","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 … 4 5 6 7 8 … 20

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

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\n

El Salvador Leads The Way<\/h2>\n\n\n\n


El Salvador stands at the forefront of cryptocurrency adoption wherein Bitcoin is recognized as legal tender. Since June 2021, it has been the first country to embrace Bitcoin alongside the US dollar for everyday transactions, making significant strides in the global crypto landscape. <\/p>\n\n\n\n

Under President Nayib Bukele, the government has initiated a groundbreaking project, where the state purchases one Bitcoin daily to bolster its reserves. <\/p>\n","post_title":"Bitfinex Securities Launches Tokenized Debt Offering For A Hotel In El Salvador","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"bitfinex-securities-launches-tokenized-debt-offering-for-a-hotel-in-el-salvador","to_ping":"","pinged":"","post_modified":"2024-04-14 00:03:52","post_modified_gmt":"2024-04-13 14:03:52","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16347","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 … 4 5 6 7 8 … 20

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

See Related: <\/em><\/strong>El Salvador Businesses Barely Impacted By Bitcoins Legality<\/a><\/p>\n\n\n\n

El Salvador Leads The Way<\/h2>\n\n\n\n


El Salvador stands at the forefront of cryptocurrency adoption wherein Bitcoin is recognized as legal tender. Since June 2021, it has been the first country to embrace Bitcoin alongside the US dollar for everyday transactions, making significant strides in the global crypto landscape. <\/p>\n\n\n\n

Under President Nayib Bukele, the government has initiated a groundbreaking project, where the state purchases one Bitcoin daily to bolster its reserves. <\/p>\n","post_title":"Bitfinex Securities Launches Tokenized Debt Offering For A Hotel In El Salvador","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"bitfinex-securities-launches-tokenized-debt-offering-for-a-hotel-in-el-salvador","to_ping":"","pinged":"","post_modified":"2024-04-14 00:03:52","post_modified_gmt":"2024-04-13 14:03:52","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16347","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 … 4 5 6 7 8 … 20

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

The tokenized debt, issued by El Salvadoran firm Inversiones Laguardia S.A. de C.V., is poised to be the inaugural token to trade on the platform. Utilizing the Liquid Network, a Bitcoin sidechain, the token will be denoted as HILSV and traded against U.S. dollars and Tether\u2019s USDT stablecoin.<\/p>\n\n\n\n

See Related: <\/em><\/strong>El Salvador Businesses Barely Impacted By Bitcoins Legality<\/a><\/p>\n\n\n\n

El Salvador Leads The Way<\/h2>\n\n\n\n


El Salvador stands at the forefront of cryptocurrency adoption wherein Bitcoin is recognized as legal tender. Since June 2021, it has been the first country to embrace Bitcoin alongside the US dollar for everyday transactions, making significant strides in the global crypto landscape. <\/p>\n\n\n\n

Under President Nayib Bukele, the government has initiated a groundbreaking project, where the state purchases one Bitcoin daily to bolster its reserves. <\/p>\n","post_title":"Bitfinex Securities Launches Tokenized Debt Offering For A Hotel In El Salvador","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"bitfinex-securities-launches-tokenized-debt-offering-for-a-hotel-in-el-salvador","to_ping":"","pinged":"","post_modified":"2024-04-14 00:03:52","post_modified_gmt":"2024-04-13 14:03:52","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16347","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 … 4 5 6 7 8 … 20

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

At the time, the tokenized securities platform announced its acceptance of customer applications and outlined a pipeline of potential financial asset issuances projected to launch in the year's first half.<\/p>\n\n\n\n

The tokenized debt, issued by El Salvadoran firm Inversiones Laguardia S.A. de C.V., is poised to be the inaugural token to trade on the platform. Utilizing the Liquid Network, a Bitcoin sidechain, the token will be denoted as HILSV and traded against U.S. dollars and Tether\u2019s USDT stablecoin.<\/p>\n\n\n\n

See Related: <\/em><\/strong>El Salvador Businesses Barely Impacted By Bitcoins Legality<\/a><\/p>\n\n\n\n

El Salvador Leads The Way<\/h2>\n\n\n\n


El Salvador stands at the forefront of cryptocurrency adoption wherein Bitcoin is recognized as legal tender. Since June 2021, it has been the first country to embrace Bitcoin alongside the US dollar for everyday transactions, making significant strides in the global crypto landscape. <\/p>\n\n\n\n

Under President Nayib Bukele, the government has initiated a groundbreaking project, where the state purchases one Bitcoin daily to bolster its reserves. <\/p>\n","post_title":"Bitfinex Securities Launches Tokenized Debt Offering For A Hotel In El Salvador","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"bitfinex-securities-launches-tokenized-debt-offering-for-a-hotel-in-el-salvador","to_ping":"","pinged":"","post_modified":"2024-04-14 00:03:52","post_modified_gmt":"2024-04-13 14:03:52","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16347","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 … 4 5 6 7 8 … 20

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

In January, Bitfinex Securities<\/a> became the inaugural regulated entity to obtain a license to operate in El Salvador under the country\u2019s newly enacted Digital Asset Securities Law. This move anticipated a surge in demand for regulated investment vehicles, following the successful introduction of U.S. spot bitcoin exchange-traded funds.<\/p>\n\n\n\n

At the time, the tokenized securities platform announced its acceptance of customer applications and outlined a pipeline of potential financial asset issuances projected to launch in the year's first half.<\/p>\n\n\n\n

The tokenized debt, issued by El Salvadoran firm Inversiones Laguardia S.A. de C.V., is poised to be the inaugural token to trade on the platform. Utilizing the Liquid Network, a Bitcoin sidechain, the token will be denoted as HILSV and traded against U.S. dollars and Tether\u2019s USDT stablecoin.<\/p>\n\n\n\n

See Related: <\/em><\/strong>El Salvador Businesses Barely Impacted By Bitcoins Legality<\/a><\/p>\n\n\n\n

El Salvador Leads The Way<\/h2>\n\n\n\n


El Salvador stands at the forefront of cryptocurrency adoption wherein Bitcoin is recognized as legal tender. Since June 2021, it has been the first country to embrace Bitcoin alongside the US dollar for everyday transactions, making significant strides in the global crypto landscape. <\/p>\n\n\n\n

Under President Nayib Bukele, the government has initiated a groundbreaking project, where the state purchases one Bitcoin daily to bolster its reserves. <\/p>\n","post_title":"Bitfinex Securities Launches Tokenized Debt Offering For A Hotel In El Salvador","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"bitfinex-securities-launches-tokenized-debt-offering-for-a-hotel-in-el-salvador","to_ping":"","pinged":"","post_modified":"2024-04-14 00:03:52","post_modified_gmt":"2024-04-13 14:03:52","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16347","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 … 4 5 6 7 8 … 20

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

Bitfinex Securities El Salvador is initiating a tokenized debt offering to fund the development of a Hampton by Hilton hotel complex spanning 4,484 square meters at El Salvador International Airport.<\/p>\n\n\n\n

In January, Bitfinex Securities<\/a> became the inaugural regulated entity to obtain a license to operate in El Salvador under the country\u2019s newly enacted Digital Asset Securities Law. This move anticipated a surge in demand for regulated investment vehicles, following the successful introduction of U.S. spot bitcoin exchange-traded funds.<\/p>\n\n\n\n

At the time, the tokenized securities platform announced its acceptance of customer applications and outlined a pipeline of potential financial asset issuances projected to launch in the year's first half.<\/p>\n\n\n\n

The tokenized debt, issued by El Salvadoran firm Inversiones Laguardia S.A. de C.V., is poised to be the inaugural token to trade on the platform. Utilizing the Liquid Network, a Bitcoin sidechain, the token will be denoted as HILSV and traded against U.S. dollars and Tether\u2019s USDT stablecoin.<\/p>\n\n\n\n

See Related: <\/em><\/strong>El Salvador Businesses Barely Impacted By Bitcoins Legality<\/a><\/p>\n\n\n\n

El Salvador Leads The Way<\/h2>\n\n\n\n


El Salvador stands at the forefront of cryptocurrency adoption wherein Bitcoin is recognized as legal tender. Since June 2021, it has been the first country to embrace Bitcoin alongside the US dollar for everyday transactions, making significant strides in the global crypto landscape. <\/p>\n\n\n\n

Under President Nayib Bukele, the government has initiated a groundbreaking project, where the state purchases one Bitcoin daily to bolster its reserves. <\/p>\n","post_title":"Bitfinex Securities Launches Tokenized Debt Offering For A Hotel In El Salvador","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"bitfinex-securities-launches-tokenized-debt-offering-for-a-hotel-in-el-salvador","to_ping":"","pinged":"","post_modified":"2024-04-14 00:03:52","post_modified_gmt":"2024-04-13 14:03:52","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16347","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 … 4 5 6 7 8 … 20

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

Despite this, analysts remain cautiously optimistic, estimating a 60% chance<\/a> of eventual approval. These delays and the ongoing review process indicate that the SEC is maintaining a cautious approach towards the approval of Ether ETFs. It reflects the complexities involved in integrating such products into the financial system.<\/p>\n","post_title":"Hong Kong Set to Approve Bitcoin And Ether ETFs By Monday","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"hong-kong-set-to-approve-bitcoin-and-ether-etfs-by-monday","to_ping":"","pinged":"","post_modified":"2024-04-15 03:53:05","post_modified_gmt":"2024-04-14 17:53:05","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16362","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":16347,"post_author":"15","post_date":"2024-04-14 00:03:48","post_date_gmt":"2024-04-13 14:03:48","post_content":"\n

Bitfinex Securities El Salvador is initiating a tokenized debt offering to fund the development of a Hampton by Hilton hotel complex spanning 4,484 square meters at El Salvador International Airport.<\/p>\n\n\n\n

In January, Bitfinex Securities<\/a> became the inaugural regulated entity to obtain a license to operate in El Salvador under the country\u2019s newly enacted Digital Asset Securities Law. This move anticipated a surge in demand for regulated investment vehicles, following the successful introduction of U.S. spot bitcoin exchange-traded funds.<\/p>\n\n\n\n

At the time, the tokenized securities platform announced its acceptance of customer applications and outlined a pipeline of potential financial asset issuances projected to launch in the year's first half.<\/p>\n\n\n\n

The tokenized debt, issued by El Salvadoran firm Inversiones Laguardia S.A. de C.V., is poised to be the inaugural token to trade on the platform. Utilizing the Liquid Network, a Bitcoin sidechain, the token will be denoted as HILSV and traded against U.S. dollars and Tether\u2019s USDT stablecoin.<\/p>\n\n\n\n

See Related: <\/em><\/strong>El Salvador Businesses Barely Impacted By Bitcoins Legality<\/a><\/p>\n\n\n\n

El Salvador Leads The Way<\/h2>\n\n\n\n


El Salvador stands at the forefront of cryptocurrency adoption wherein Bitcoin is recognized as legal tender. Since June 2021, it has been the first country to embrace Bitcoin alongside the US dollar for everyday transactions, making significant strides in the global crypto landscape. <\/p>\n\n\n\n

Under President Nayib Bukele, the government has initiated a groundbreaking project, where the state purchases one Bitcoin daily to bolster its reserves. <\/p>\n","post_title":"Bitfinex Securities Launches Tokenized Debt Offering For A Hotel In El Salvador","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"bitfinex-securities-launches-tokenized-debt-offering-for-a-hotel-in-el-salvador","to_ping":"","pinged":"","post_modified":"2024-04-14 00:03:52","post_modified_gmt":"2024-04-13 14:03:52","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16347","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 … 4 5 6 7 8 … 20

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

The U.S. Securities and Exchange Commission (SEC) has once again delayed its decision on the application for an Ether ETF. A new deadline is set for May 23<\/a>.<\/p>\n\n\n\n

Despite this, analysts remain cautiously optimistic, estimating a 60% chance<\/a> of eventual approval. These delays and the ongoing review process indicate that the SEC is maintaining a cautious approach towards the approval of Ether ETFs. It reflects the complexities involved in integrating such products into the financial system.<\/p>\n","post_title":"Hong Kong Set to Approve Bitcoin And Ether ETFs By Monday","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"hong-kong-set-to-approve-bitcoin-and-ether-etfs-by-monday","to_ping":"","pinged":"","post_modified":"2024-04-15 03:53:05","post_modified_gmt":"2024-04-14 17:53:05","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16362","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":16347,"post_author":"15","post_date":"2024-04-14 00:03:48","post_date_gmt":"2024-04-13 14:03:48","post_content":"\n

Bitfinex Securities El Salvador is initiating a tokenized debt offering to fund the development of a Hampton by Hilton hotel complex spanning 4,484 square meters at El Salvador International Airport.<\/p>\n\n\n\n

In January, Bitfinex Securities<\/a> became the inaugural regulated entity to obtain a license to operate in El Salvador under the country\u2019s newly enacted Digital Asset Securities Law. This move anticipated a surge in demand for regulated investment vehicles, following the successful introduction of U.S. spot bitcoin exchange-traded funds.<\/p>\n\n\n\n

At the time, the tokenized securities platform announced its acceptance of customer applications and outlined a pipeline of potential financial asset issuances projected to launch in the year's first half.<\/p>\n\n\n\n

The tokenized debt, issued by El Salvadoran firm Inversiones Laguardia S.A. de C.V., is poised to be the inaugural token to trade on the platform. Utilizing the Liquid Network, a Bitcoin sidechain, the token will be denoted as HILSV and traded against U.S. dollars and Tether\u2019s USDT stablecoin.<\/p>\n\n\n\n

See Related: <\/em><\/strong>El Salvador Businesses Barely Impacted By Bitcoins Legality<\/a><\/p>\n\n\n\n

El Salvador Leads The Way<\/h2>\n\n\n\n


El Salvador stands at the forefront of cryptocurrency adoption wherein Bitcoin is recognized as legal tender. Since June 2021, it has been the first country to embrace Bitcoin alongside the US dollar for everyday transactions, making significant strides in the global crypto landscape. <\/p>\n\n\n\n

Under President Nayib Bukele, the government has initiated a groundbreaking project, where the state purchases one Bitcoin daily to bolster its reserves. <\/p>\n","post_title":"Bitfinex Securities Launches Tokenized Debt Offering For A Hotel In El Salvador","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"bitfinex-securities-launches-tokenized-debt-offering-for-a-hotel-in-el-salvador","to_ping":"","pinged":"","post_modified":"2024-04-14 00:03:52","post_modified_gmt":"2024-04-13 14:03:52","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16347","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 … 4 5 6 7 8 … 20

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

Ether ETF Update<\/h2>\n\n\n\n

The U.S. Securities and Exchange Commission (SEC) has once again delayed its decision on the application for an Ether ETF. A new deadline is set for May 23<\/a>.<\/p>\n\n\n\n

Despite this, analysts remain cautiously optimistic, estimating a 60% chance<\/a> of eventual approval. These delays and the ongoing review process indicate that the SEC is maintaining a cautious approach towards the approval of Ether ETFs. It reflects the complexities involved in integrating such products into the financial system.<\/p>\n","post_title":"Hong Kong Set to Approve Bitcoin And Ether ETFs By Monday","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"hong-kong-set-to-approve-bitcoin-and-ether-etfs-by-monday","to_ping":"","pinged":"","post_modified":"2024-04-15 03:53:05","post_modified_gmt":"2024-04-14 17:53:05","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16362","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":16347,"post_author":"15","post_date":"2024-04-14 00:03:48","post_date_gmt":"2024-04-13 14:03:48","post_content":"\n

Bitfinex Securities El Salvador is initiating a tokenized debt offering to fund the development of a Hampton by Hilton hotel complex spanning 4,484 square meters at El Salvador International Airport.<\/p>\n\n\n\n

In January, Bitfinex Securities<\/a> became the inaugural regulated entity to obtain a license to operate in El Salvador under the country\u2019s newly enacted Digital Asset Securities Law. This move anticipated a surge in demand for regulated investment vehicles, following the successful introduction of U.S. spot bitcoin exchange-traded funds.<\/p>\n\n\n\n

At the time, the tokenized securities platform announced its acceptance of customer applications and outlined a pipeline of potential financial asset issuances projected to launch in the year's first half.<\/p>\n\n\n\n

The tokenized debt, issued by El Salvadoran firm Inversiones Laguardia S.A. de C.V., is poised to be the inaugural token to trade on the platform. Utilizing the Liquid Network, a Bitcoin sidechain, the token will be denoted as HILSV and traded against U.S. dollars and Tether\u2019s USDT stablecoin.<\/p>\n\n\n\n

See Related: <\/em><\/strong>El Salvador Businesses Barely Impacted By Bitcoins Legality<\/a><\/p>\n\n\n\n

El Salvador Leads The Way<\/h2>\n\n\n\n


El Salvador stands at the forefront of cryptocurrency adoption wherein Bitcoin is recognized as legal tender. Since June 2021, it has been the first country to embrace Bitcoin alongside the US dollar for everyday transactions, making significant strides in the global crypto landscape. <\/p>\n\n\n\n

Under President Nayib Bukele, the government has initiated a groundbreaking project, where the state purchases one Bitcoin daily to bolster its reserves. <\/p>\n","post_title":"Bitfinex Securities Launches Tokenized Debt Offering For A Hotel In El Salvador","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"bitfinex-securities-launches-tokenized-debt-offering-for-a-hotel-in-el-salvador","to_ping":"","pinged":"","post_modified":"2024-04-14 00:03:52","post_modified_gmt":"2024-04-13 14:03:52","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16347","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 … 4 5 6 7 8 … 20

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

See Related: <\/em><\/strong>Hong Kong Invests Over $6.4M Into Web 3 Development<\/a><\/p>\n\n\n\n

Ether ETF Update<\/h2>\n\n\n\n

The U.S. Securities and Exchange Commission (SEC) has once again delayed its decision on the application for an Ether ETF. A new deadline is set for May 23<\/a>.<\/p>\n\n\n\n

Despite this, analysts remain cautiously optimistic, estimating a 60% chance<\/a> of eventual approval. These delays and the ongoing review process indicate that the SEC is maintaining a cautious approach towards the approval of Ether ETFs. It reflects the complexities involved in integrating such products into the financial system.<\/p>\n","post_title":"Hong Kong Set to Approve Bitcoin And Ether ETFs By Monday","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"hong-kong-set-to-approve-bitcoin-and-ether-etfs-by-monday","to_ping":"","pinged":"","post_modified":"2024-04-15 03:53:05","post_modified_gmt":"2024-04-14 17:53:05","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16362","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":16347,"post_author":"15","post_date":"2024-04-14 00:03:48","post_date_gmt":"2024-04-13 14:03:48","post_content":"\n

Bitfinex Securities El Salvador is initiating a tokenized debt offering to fund the development of a Hampton by Hilton hotel complex spanning 4,484 square meters at El Salvador International Airport.<\/p>\n\n\n\n

In January, Bitfinex Securities<\/a> became the inaugural regulated entity to obtain a license to operate in El Salvador under the country\u2019s newly enacted Digital Asset Securities Law. This move anticipated a surge in demand for regulated investment vehicles, following the successful introduction of U.S. spot bitcoin exchange-traded funds.<\/p>\n\n\n\n

At the time, the tokenized securities platform announced its acceptance of customer applications and outlined a pipeline of potential financial asset issuances projected to launch in the year's first half.<\/p>\n\n\n\n

The tokenized debt, issued by El Salvadoran firm Inversiones Laguardia S.A. de C.V., is poised to be the inaugural token to trade on the platform. Utilizing the Liquid Network, a Bitcoin sidechain, the token will be denoted as HILSV and traded against U.S. dollars and Tether\u2019s USDT stablecoin.<\/p>\n\n\n\n

See Related: <\/em><\/strong>El Salvador Businesses Barely Impacted By Bitcoins Legality<\/a><\/p>\n\n\n\n

El Salvador Leads The Way<\/h2>\n\n\n\n


El Salvador stands at the forefront of cryptocurrency adoption wherein Bitcoin is recognized as legal tender. Since June 2021, it has been the first country to embrace Bitcoin alongside the US dollar for everyday transactions, making significant strides in the global crypto landscape. <\/p>\n\n\n\n

Under President Nayib Bukele, the government has initiated a groundbreaking project, where the state purchases one Bitcoin daily to bolster its reserves. <\/p>\n","post_title":"Bitfinex Securities Launches Tokenized Debt Offering For A Hotel In El Salvador","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"bitfinex-securities-launches-tokenized-debt-offering-for-a-hotel-in-el-salvador","to_ping":"","pinged":"","post_modified":"2024-04-14 00:03:52","post_modified_gmt":"2024-04-13 14:03:52","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16347","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 … 4 5 6 7 8 … 20

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

However, unlike in the U.S., where ether ETFs have not yet been approved, Hong Kong might take the lead in this area as well. The city's market regulator, the Securities and Futures Commission (SFC), has not commented on the developments. Similarly, inquiries to Harvest Global Investments, Bosera Asset Management, HashKey Capital, and HKEX received no immediate response.<\/p>\n\n\n\n

See Related: <\/em><\/strong>Hong Kong Invests Over $6.4M Into Web 3 Development<\/a><\/p>\n\n\n\n

Ether ETF Update<\/h2>\n\n\n\n

The U.S. Securities and Exchange Commission (SEC) has once again delayed its decision on the application for an Ether ETF. A new deadline is set for May 23<\/a>.<\/p>\n\n\n\n

Despite this, analysts remain cautiously optimistic, estimating a 60% chance<\/a> of eventual approval. These delays and the ongoing review process indicate that the SEC is maintaining a cautious approach towards the approval of Ether ETFs. It reflects the complexities involved in integrating such products into the financial system.<\/p>\n","post_title":"Hong Kong Set to Approve Bitcoin And Ether ETFs By Monday","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"hong-kong-set-to-approve-bitcoin-and-ether-etfs-by-monday","to_ping":"","pinged":"","post_modified":"2024-04-15 03:53:05","post_modified_gmt":"2024-04-14 17:53:05","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16362","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":16347,"post_author":"15","post_date":"2024-04-14 00:03:48","post_date_gmt":"2024-04-13 14:03:48","post_content":"\n

Bitfinex Securities El Salvador is initiating a tokenized debt offering to fund the development of a Hampton by Hilton hotel complex spanning 4,484 square meters at El Salvador International Airport.<\/p>\n\n\n\n

In January, Bitfinex Securities<\/a> became the inaugural regulated entity to obtain a license to operate in El Salvador under the country\u2019s newly enacted Digital Asset Securities Law. This move anticipated a surge in demand for regulated investment vehicles, following the successful introduction of U.S. spot bitcoin exchange-traded funds.<\/p>\n\n\n\n

At the time, the tokenized securities platform announced its acceptance of customer applications and outlined a pipeline of potential financial asset issuances projected to launch in the year's first half.<\/p>\n\n\n\n

The tokenized debt, issued by El Salvadoran firm Inversiones Laguardia S.A. de C.V., is poised to be the inaugural token to trade on the platform. Utilizing the Liquid Network, a Bitcoin sidechain, the token will be denoted as HILSV and traded against U.S. dollars and Tether\u2019s USDT stablecoin.<\/p>\n\n\n\n

See Related: <\/em><\/strong>El Salvador Businesses Barely Impacted By Bitcoins Legality<\/a><\/p>\n\n\n\n

El Salvador Leads The Way<\/h2>\n\n\n\n


El Salvador stands at the forefront of cryptocurrency adoption wherein Bitcoin is recognized as legal tender. Since June 2021, it has been the first country to embrace Bitcoin alongside the US dollar for everyday transactions, making significant strides in the global crypto landscape. <\/p>\n\n\n\n

Under President Nayib Bukele, the government has initiated a groundbreaking project, where the state purchases one Bitcoin daily to bolster its reserves. <\/p>\n","post_title":"Bitfinex Securities Launches Tokenized Debt Offering For A Hotel In El Salvador","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"bitfinex-securities-launches-tokenized-debt-offering-for-a-hotel-in-el-salvador","to_ping":"","pinged":"","post_modified":"2024-04-14 00:03:52","post_modified_gmt":"2024-04-13 14:03:52","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16347","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 … 4 5 6 7 8 … 20

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

Bloomberg\u2019s sources suggest that if the Hong Kong Exchanges & Clearing can finalize the listing details promptly, trading could commence by the end of April. Harvest Global Investments and Bosera Asset Management, in collaboration with HashKey Capital, are frontrunners in receiving the first approvals for these spot cryptocurrency ETFs. This move could cement Hong Kong's position as a major hub for digital assets in Asia, particularly if it leads to a successful market response similar to the U.S., where the approval of bitcoin ETFs in January triggered a price rally, pushing bitcoin\u2019s value to $73,000.<\/p>\n\n\n\n

However, unlike in the U.S., where ether ETFs have not yet been approved, Hong Kong might take the lead in this area as well. The city's market regulator, the Securities and Futures Commission (SFC), has not commented on the developments. Similarly, inquiries to Harvest Global Investments, Bosera Asset Management, HashKey Capital, and HKEX received no immediate response.<\/p>\n\n\n\n

See Related: <\/em><\/strong>Hong Kong Invests Over $6.4M Into Web 3 Development<\/a><\/p>\n\n\n\n

Ether ETF Update<\/h2>\n\n\n\n

The U.S. Securities and Exchange Commission (SEC) has once again delayed its decision on the application for an Ether ETF. A new deadline is set for May 23<\/a>.<\/p>\n\n\n\n

Despite this, analysts remain cautiously optimistic, estimating a 60% chance<\/a> of eventual approval. These delays and the ongoing review process indicate that the SEC is maintaining a cautious approach towards the approval of Ether ETFs. It reflects the complexities involved in integrating such products into the financial system.<\/p>\n","post_title":"Hong Kong Set to Approve Bitcoin And Ether ETFs By Monday","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"hong-kong-set-to-approve-bitcoin-and-ether-etfs-by-monday","to_ping":"","pinged":"","post_modified":"2024-04-15 03:53:05","post_modified_gmt":"2024-04-14 17:53:05","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16362","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":16347,"post_author":"15","post_date":"2024-04-14 00:03:48","post_date_gmt":"2024-04-13 14:03:48","post_content":"\n

Bitfinex Securities El Salvador is initiating a tokenized debt offering to fund the development of a Hampton by Hilton hotel complex spanning 4,484 square meters at El Salvador International Airport.<\/p>\n\n\n\n

In January, Bitfinex Securities<\/a> became the inaugural regulated entity to obtain a license to operate in El Salvador under the country\u2019s newly enacted Digital Asset Securities Law. This move anticipated a surge in demand for regulated investment vehicles, following the successful introduction of U.S. spot bitcoin exchange-traded funds.<\/p>\n\n\n\n

At the time, the tokenized securities platform announced its acceptance of customer applications and outlined a pipeline of potential financial asset issuances projected to launch in the year's first half.<\/p>\n\n\n\n

The tokenized debt, issued by El Salvadoran firm Inversiones Laguardia S.A. de C.V., is poised to be the inaugural token to trade on the platform. Utilizing the Liquid Network, a Bitcoin sidechain, the token will be denoted as HILSV and traded against U.S. dollars and Tether\u2019s USDT stablecoin.<\/p>\n\n\n\n

See Related: <\/em><\/strong>El Salvador Businesses Barely Impacted By Bitcoins Legality<\/a><\/p>\n\n\n\n

El Salvador Leads The Way<\/h2>\n\n\n\n


El Salvador stands at the forefront of cryptocurrency adoption wherein Bitcoin is recognized as legal tender. Since June 2021, it has been the first country to embrace Bitcoin alongside the US dollar for everyday transactions, making significant strides in the global crypto landscape. <\/p>\n\n\n\n

Under President Nayib Bukele, the government has initiated a groundbreaking project, where the state purchases one Bitcoin daily to bolster its reserves. <\/p>\n","post_title":"Bitfinex Securities Launches Tokenized Debt Offering For A Hotel In El Salvador","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"bitfinex-securities-launches-tokenized-debt-offering-for-a-hotel-in-el-salvador","to_ping":"","pinged":"","post_modified":"2024-04-14 00:03:52","post_modified_gmt":"2024-04-13 14:03:52","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16347","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 … 4 5 6 7 8 … 20

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

Hong Kong is on the brink of approving spot exchange-traded funds (ETFs) for bitcoin and ether, potentially by Monday, Bloomberg reports<\/a>. This anticipated approval is poised to influence the cryptocurrency markets in the near term. The ETFs, if launched, will enable investors to trade bitcoin and ether on regulated platforms, enhancing the legitimacy and stability of investing in cryptocurrencies.<\/p>\n\n\n\n

Bloomberg\u2019s sources suggest that if the Hong Kong Exchanges & Clearing can finalize the listing details promptly, trading could commence by the end of April. Harvest Global Investments and Bosera Asset Management, in collaboration with HashKey Capital, are frontrunners in receiving the first approvals for these spot cryptocurrency ETFs. This move could cement Hong Kong's position as a major hub for digital assets in Asia, particularly if it leads to a successful market response similar to the U.S., where the approval of bitcoin ETFs in January triggered a price rally, pushing bitcoin\u2019s value to $73,000.<\/p>\n\n\n\n

However, unlike in the U.S., where ether ETFs have not yet been approved, Hong Kong might take the lead in this area as well. The city's market regulator, the Securities and Futures Commission (SFC), has not commented on the developments. Similarly, inquiries to Harvest Global Investments, Bosera Asset Management, HashKey Capital, and HKEX received no immediate response.<\/p>\n\n\n\n

See Related: <\/em><\/strong>Hong Kong Invests Over $6.4M Into Web 3 Development<\/a><\/p>\n\n\n\n

Ether ETF Update<\/h2>\n\n\n\n

The U.S. Securities and Exchange Commission (SEC) has once again delayed its decision on the application for an Ether ETF. A new deadline is set for May 23<\/a>.<\/p>\n\n\n\n

Despite this, analysts remain cautiously optimistic, estimating a 60% chance<\/a> of eventual approval. These delays and the ongoing review process indicate that the SEC is maintaining a cautious approach towards the approval of Ether ETFs. It reflects the complexities involved in integrating such products into the financial system.<\/p>\n","post_title":"Hong Kong Set to Approve Bitcoin And Ether ETFs By Monday","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"hong-kong-set-to-approve-bitcoin-and-ether-etfs-by-monday","to_ping":"","pinged":"","post_modified":"2024-04-15 03:53:05","post_modified_gmt":"2024-04-14 17:53:05","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16362","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":16347,"post_author":"15","post_date":"2024-04-14 00:03:48","post_date_gmt":"2024-04-13 14:03:48","post_content":"\n

Bitfinex Securities El Salvador is initiating a tokenized debt offering to fund the development of a Hampton by Hilton hotel complex spanning 4,484 square meters at El Salvador International Airport.<\/p>\n\n\n\n

In January, Bitfinex Securities<\/a> became the inaugural regulated entity to obtain a license to operate in El Salvador under the country\u2019s newly enacted Digital Asset Securities Law. This move anticipated a surge in demand for regulated investment vehicles, following the successful introduction of U.S. spot bitcoin exchange-traded funds.<\/p>\n\n\n\n

At the time, the tokenized securities platform announced its acceptance of customer applications and outlined a pipeline of potential financial asset issuances projected to launch in the year's first half.<\/p>\n\n\n\n

The tokenized debt, issued by El Salvadoran firm Inversiones Laguardia S.A. de C.V., is poised to be the inaugural token to trade on the platform. Utilizing the Liquid Network, a Bitcoin sidechain, the token will be denoted as HILSV and traded against U.S. dollars and Tether\u2019s USDT stablecoin.<\/p>\n\n\n\n

See Related: <\/em><\/strong>El Salvador Businesses Barely Impacted By Bitcoins Legality<\/a><\/p>\n\n\n\n

El Salvador Leads The Way<\/h2>\n\n\n\n


El Salvador stands at the forefront of cryptocurrency adoption wherein Bitcoin is recognized as legal tender. Since June 2021, it has been the first country to embrace Bitcoin alongside the US dollar for everyday transactions, making significant strides in the global crypto landscape. <\/p>\n\n\n\n

Under President Nayib Bukele, the government has initiated a groundbreaking project, where the state purchases one Bitcoin daily to bolster its reserves. <\/p>\n","post_title":"Bitfinex Securities Launches Tokenized Debt Offering For A Hotel In El Salvador","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"bitfinex-securities-launches-tokenized-debt-offering-for-a-hotel-in-el-salvador","to_ping":"","pinged":"","post_modified":"2024-04-14 00:03:52","post_modified_gmt":"2024-04-13 14:03:52","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16347","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 … 4 5 6 7 8 … 20

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

Binance has denied any wrongdoing, but this is not the first time it has bumped heads with regulators.<\/p>\n","post_title":"Binance Set To Re-enter Indian Market with $2 Million Fine Settlement","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"binance-set-to-re-enter-indian-market-with-2-million-fine-settlement","to_ping":"","pinged":"","post_modified":"2024-04-20 04:11:08","post_modified_gmt":"2024-04-19 18:11:08","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16460","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":16362,"post_author":"15","post_date":"2024-04-15 03:52:59","post_date_gmt":"2024-04-14 17:52:59","post_content":"\n

Hong Kong is on the brink of approving spot exchange-traded funds (ETFs) for bitcoin and ether, potentially by Monday, Bloomberg reports<\/a>. This anticipated approval is poised to influence the cryptocurrency markets in the near term. The ETFs, if launched, will enable investors to trade bitcoin and ether on regulated platforms, enhancing the legitimacy and stability of investing in cryptocurrencies.<\/p>\n\n\n\n

Bloomberg\u2019s sources suggest that if the Hong Kong Exchanges & Clearing can finalize the listing details promptly, trading could commence by the end of April. Harvest Global Investments and Bosera Asset Management, in collaboration with HashKey Capital, are frontrunners in receiving the first approvals for these spot cryptocurrency ETFs. This move could cement Hong Kong's position as a major hub for digital assets in Asia, particularly if it leads to a successful market response similar to the U.S., where the approval of bitcoin ETFs in January triggered a price rally, pushing bitcoin\u2019s value to $73,000.<\/p>\n\n\n\n

However, unlike in the U.S., where ether ETFs have not yet been approved, Hong Kong might take the lead in this area as well. The city's market regulator, the Securities and Futures Commission (SFC), has not commented on the developments. Similarly, inquiries to Harvest Global Investments, Bosera Asset Management, HashKey Capital, and HKEX received no immediate response.<\/p>\n\n\n\n

See Related: <\/em><\/strong>Hong Kong Invests Over $6.4M Into Web 3 Development<\/a><\/p>\n\n\n\n

Ether ETF Update<\/h2>\n\n\n\n

The U.S. Securities and Exchange Commission (SEC) has once again delayed its decision on the application for an Ether ETF. A new deadline is set for May 23<\/a>.<\/p>\n\n\n\n

Despite this, analysts remain cautiously optimistic, estimating a 60% chance<\/a> of eventual approval. These delays and the ongoing review process indicate that the SEC is maintaining a cautious approach towards the approval of Ether ETFs. It reflects the complexities involved in integrating such products into the financial system.<\/p>\n","post_title":"Hong Kong Set to Approve Bitcoin And Ether ETFs By Monday","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"hong-kong-set-to-approve-bitcoin-and-ether-etfs-by-monday","to_ping":"","pinged":"","post_modified":"2024-04-15 03:53:05","post_modified_gmt":"2024-04-14 17:53:05","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16362","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":16347,"post_author":"15","post_date":"2024-04-14 00:03:48","post_date_gmt":"2024-04-13 14:03:48","post_content":"\n

Bitfinex Securities El Salvador is initiating a tokenized debt offering to fund the development of a Hampton by Hilton hotel complex spanning 4,484 square meters at El Salvador International Airport.<\/p>\n\n\n\n

In January, Bitfinex Securities<\/a> became the inaugural regulated entity to obtain a license to operate in El Salvador under the country\u2019s newly enacted Digital Asset Securities Law. This move anticipated a surge in demand for regulated investment vehicles, following the successful introduction of U.S. spot bitcoin exchange-traded funds.<\/p>\n\n\n\n

At the time, the tokenized securities platform announced its acceptance of customer applications and outlined a pipeline of potential financial asset issuances projected to launch in the year's first half.<\/p>\n\n\n\n

The tokenized debt, issued by El Salvadoran firm Inversiones Laguardia S.A. de C.V., is poised to be the inaugural token to trade on the platform. Utilizing the Liquid Network, a Bitcoin sidechain, the token will be denoted as HILSV and traded against U.S. dollars and Tether\u2019s USDT stablecoin.<\/p>\n\n\n\n

See Related: <\/em><\/strong>El Salvador Businesses Barely Impacted By Bitcoins Legality<\/a><\/p>\n\n\n\n

El Salvador Leads The Way<\/h2>\n\n\n\n


El Salvador stands at the forefront of cryptocurrency adoption wherein Bitcoin is recognized as legal tender. Since June 2021, it has been the first country to embrace Bitcoin alongside the US dollar for everyday transactions, making significant strides in the global crypto landscape. <\/p>\n\n\n\n

Under President Nayib Bukele, the government has initiated a groundbreaking project, where the state purchases one Bitcoin daily to bolster its reserves. <\/p>\n","post_title":"Bitfinex Securities Launches Tokenized Debt Offering For A Hotel In El Salvador","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"bitfinex-securities-launches-tokenized-debt-offering-for-a-hotel-in-el-salvador","to_ping":"","pinged":"","post_modified":"2024-04-14 00:03:52","post_modified_gmt":"2024-04-13 14:03:52","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16347","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 … 4 5 6 7 8 … 20

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

Nigerian officials have leveled several charges against the cryptocurrency exchange Binance. The allegation includes exploiting the local economy, contributing to the devaluation of the Nigerian naira, and engaging in money laundering activities. They allege that Binance has been involved in manipulating the exchange rates by engaging in speculative actions and fixing rates. Furthermore, the Nigerian government has expressed concerns over $26 billion in transactions carried out on Binance's platform, which they report as being untraceable.<\/p>\n\n\n\n

Binance has denied any wrongdoing, but this is not the first time it has bumped heads with regulators.<\/p>\n","post_title":"Binance Set To Re-enter Indian Market with $2 Million Fine Settlement","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"binance-set-to-re-enter-indian-market-with-2-million-fine-settlement","to_ping":"","pinged":"","post_modified":"2024-04-20 04:11:08","post_modified_gmt":"2024-04-19 18:11:08","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16460","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":16362,"post_author":"15","post_date":"2024-04-15 03:52:59","post_date_gmt":"2024-04-14 17:52:59","post_content":"\n

Hong Kong is on the brink of approving spot exchange-traded funds (ETFs) for bitcoin and ether, potentially by Monday, Bloomberg reports<\/a>. This anticipated approval is poised to influence the cryptocurrency markets in the near term. The ETFs, if launched, will enable investors to trade bitcoin and ether on regulated platforms, enhancing the legitimacy and stability of investing in cryptocurrencies.<\/p>\n\n\n\n

Bloomberg\u2019s sources suggest that if the Hong Kong Exchanges & Clearing can finalize the listing details promptly, trading could commence by the end of April. Harvest Global Investments and Bosera Asset Management, in collaboration with HashKey Capital, are frontrunners in receiving the first approvals for these spot cryptocurrency ETFs. This move could cement Hong Kong's position as a major hub for digital assets in Asia, particularly if it leads to a successful market response similar to the U.S., where the approval of bitcoin ETFs in January triggered a price rally, pushing bitcoin\u2019s value to $73,000.<\/p>\n\n\n\n

However, unlike in the U.S., where ether ETFs have not yet been approved, Hong Kong might take the lead in this area as well. The city's market regulator, the Securities and Futures Commission (SFC), has not commented on the developments. Similarly, inquiries to Harvest Global Investments, Bosera Asset Management, HashKey Capital, and HKEX received no immediate response.<\/p>\n\n\n\n

See Related: <\/em><\/strong>Hong Kong Invests Over $6.4M Into Web 3 Development<\/a><\/p>\n\n\n\n

Ether ETF Update<\/h2>\n\n\n\n

The U.S. Securities and Exchange Commission (SEC) has once again delayed its decision on the application for an Ether ETF. A new deadline is set for May 23<\/a>.<\/p>\n\n\n\n

Despite this, analysts remain cautiously optimistic, estimating a 60% chance<\/a> of eventual approval. These delays and the ongoing review process indicate that the SEC is maintaining a cautious approach towards the approval of Ether ETFs. It reflects the complexities involved in integrating such products into the financial system.<\/p>\n","post_title":"Hong Kong Set to Approve Bitcoin And Ether ETFs By Monday","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"hong-kong-set-to-approve-bitcoin-and-ether-etfs-by-monday","to_ping":"","pinged":"","post_modified":"2024-04-15 03:53:05","post_modified_gmt":"2024-04-14 17:53:05","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16362","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":16347,"post_author":"15","post_date":"2024-04-14 00:03:48","post_date_gmt":"2024-04-13 14:03:48","post_content":"\n

Bitfinex Securities El Salvador is initiating a tokenized debt offering to fund the development of a Hampton by Hilton hotel complex spanning 4,484 square meters at El Salvador International Airport.<\/p>\n\n\n\n

In January, Bitfinex Securities<\/a> became the inaugural regulated entity to obtain a license to operate in El Salvador under the country\u2019s newly enacted Digital Asset Securities Law. This move anticipated a surge in demand for regulated investment vehicles, following the successful introduction of U.S. spot bitcoin exchange-traded funds.<\/p>\n\n\n\n

At the time, the tokenized securities platform announced its acceptance of customer applications and outlined a pipeline of potential financial asset issuances projected to launch in the year's first half.<\/p>\n\n\n\n

The tokenized debt, issued by El Salvadoran firm Inversiones Laguardia S.A. de C.V., is poised to be the inaugural token to trade on the platform. Utilizing the Liquid Network, a Bitcoin sidechain, the token will be denoted as HILSV and traded against U.S. dollars and Tether\u2019s USDT stablecoin.<\/p>\n\n\n\n

See Related: <\/em><\/strong>El Salvador Businesses Barely Impacted By Bitcoins Legality<\/a><\/p>\n\n\n\n

El Salvador Leads The Way<\/h2>\n\n\n\n


El Salvador stands at the forefront of cryptocurrency adoption wherein Bitcoin is recognized as legal tender. Since June 2021, it has been the first country to embrace Bitcoin alongside the US dollar for everyday transactions, making significant strides in the global crypto landscape. <\/p>\n\n\n\n

Under President Nayib Bukele, the government has initiated a groundbreaking project, where the state purchases one Bitcoin daily to bolster its reserves. <\/p>\n","post_title":"Bitfinex Securities Launches Tokenized Debt Offering For A Hotel In El Salvador","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"bitfinex-securities-launches-tokenized-debt-offering-for-a-hotel-in-el-salvador","to_ping":"","pinged":"","post_modified":"2024-04-14 00:03:52","post_modified_gmt":"2024-04-13 14:03:52","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16347","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 … 4 5 6 7 8 … 20

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

Two months ago, Nigeria detained two executives of the Binance after they flew into the country. The country's Office of the National Security Adviser detained the two, and their passports were seized. <\/p>\n\n\n\n

Nigerian officials have leveled several charges against the cryptocurrency exchange Binance. The allegation includes exploiting the local economy, contributing to the devaluation of the Nigerian naira, and engaging in money laundering activities. They allege that Binance has been involved in manipulating the exchange rates by engaging in speculative actions and fixing rates. Furthermore, the Nigerian government has expressed concerns over $26 billion in transactions carried out on Binance's platform, which they report as being untraceable.<\/p>\n\n\n\n

Binance has denied any wrongdoing, but this is not the first time it has bumped heads with regulators.<\/p>\n","post_title":"Binance Set To Re-enter Indian Market with $2 Million Fine Settlement","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"binance-set-to-re-enter-indian-market-with-2-million-fine-settlement","to_ping":"","pinged":"","post_modified":"2024-04-20 04:11:08","post_modified_gmt":"2024-04-19 18:11:08","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16460","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":16362,"post_author":"15","post_date":"2024-04-15 03:52:59","post_date_gmt":"2024-04-14 17:52:59","post_content":"\n

Hong Kong is on the brink of approving spot exchange-traded funds (ETFs) for bitcoin and ether, potentially by Monday, Bloomberg reports<\/a>. This anticipated approval is poised to influence the cryptocurrency markets in the near term. The ETFs, if launched, will enable investors to trade bitcoin and ether on regulated platforms, enhancing the legitimacy and stability of investing in cryptocurrencies.<\/p>\n\n\n\n

Bloomberg\u2019s sources suggest that if the Hong Kong Exchanges & Clearing can finalize the listing details promptly, trading could commence by the end of April. Harvest Global Investments and Bosera Asset Management, in collaboration with HashKey Capital, are frontrunners in receiving the first approvals for these spot cryptocurrency ETFs. This move could cement Hong Kong's position as a major hub for digital assets in Asia, particularly if it leads to a successful market response similar to the U.S., where the approval of bitcoin ETFs in January triggered a price rally, pushing bitcoin\u2019s value to $73,000.<\/p>\n\n\n\n

However, unlike in the U.S., where ether ETFs have not yet been approved, Hong Kong might take the lead in this area as well. The city's market regulator, the Securities and Futures Commission (SFC), has not commented on the developments. Similarly, inquiries to Harvest Global Investments, Bosera Asset Management, HashKey Capital, and HKEX received no immediate response.<\/p>\n\n\n\n

See Related: <\/em><\/strong>Hong Kong Invests Over $6.4M Into Web 3 Development<\/a><\/p>\n\n\n\n

Ether ETF Update<\/h2>\n\n\n\n

The U.S. Securities and Exchange Commission (SEC) has once again delayed its decision on the application for an Ether ETF. A new deadline is set for May 23<\/a>.<\/p>\n\n\n\n

Despite this, analysts remain cautiously optimistic, estimating a 60% chance<\/a> of eventual approval. These delays and the ongoing review process indicate that the SEC is maintaining a cautious approach towards the approval of Ether ETFs. It reflects the complexities involved in integrating such products into the financial system.<\/p>\n","post_title":"Hong Kong Set to Approve Bitcoin And Ether ETFs By Monday","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"hong-kong-set-to-approve-bitcoin-and-ether-etfs-by-monday","to_ping":"","pinged":"","post_modified":"2024-04-15 03:53:05","post_modified_gmt":"2024-04-14 17:53:05","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16362","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":16347,"post_author":"15","post_date":"2024-04-14 00:03:48","post_date_gmt":"2024-04-13 14:03:48","post_content":"\n

Bitfinex Securities El Salvador is initiating a tokenized debt offering to fund the development of a Hampton by Hilton hotel complex spanning 4,484 square meters at El Salvador International Airport.<\/p>\n\n\n\n

In January, Bitfinex Securities<\/a> became the inaugural regulated entity to obtain a license to operate in El Salvador under the country\u2019s newly enacted Digital Asset Securities Law. This move anticipated a surge in demand for regulated investment vehicles, following the successful introduction of U.S. spot bitcoin exchange-traded funds.<\/p>\n\n\n\n

At the time, the tokenized securities platform announced its acceptance of customer applications and outlined a pipeline of potential financial asset issuances projected to launch in the year's first half.<\/p>\n\n\n\n

The tokenized debt, issued by El Salvadoran firm Inversiones Laguardia S.A. de C.V., is poised to be the inaugural token to trade on the platform. Utilizing the Liquid Network, a Bitcoin sidechain, the token will be denoted as HILSV and traded against U.S. dollars and Tether\u2019s USDT stablecoin.<\/p>\n\n\n\n

See Related: <\/em><\/strong>El Salvador Businesses Barely Impacted By Bitcoins Legality<\/a><\/p>\n\n\n\n

El Salvador Leads The Way<\/h2>\n\n\n\n


El Salvador stands at the forefront of cryptocurrency adoption wherein Bitcoin is recognized as legal tender. Since June 2021, it has been the first country to embrace Bitcoin alongside the US dollar for everyday transactions, making significant strides in the global crypto landscape. <\/p>\n\n\n\n

Under President Nayib Bukele, the government has initiated a groundbreaking project, where the state purchases one Bitcoin daily to bolster its reserves. <\/p>\n","post_title":"Bitfinex Securities Launches Tokenized Debt Offering For A Hotel In El Salvador","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"bitfinex-securities-launches-tokenized-debt-offering-for-a-hotel-in-el-salvador","to_ping":"","pinged":"","post_modified":"2024-04-14 00:03:52","post_modified_gmt":"2024-04-13 14:03:52","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16347","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 … 4 5 6 7 8 … 20

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

Nigeria Detains Binance Executives<\/h2>\n\n\n\n

Two months ago, Nigeria detained two executives of the Binance after they flew into the country. The country's Office of the National Security Adviser detained the two, and their passports were seized. <\/p>\n\n\n\n

Nigerian officials have leveled several charges against the cryptocurrency exchange Binance. The allegation includes exploiting the local economy, contributing to the devaluation of the Nigerian naira, and engaging in money laundering activities. They allege that Binance has been involved in manipulating the exchange rates by engaging in speculative actions and fixing rates. Furthermore, the Nigerian government has expressed concerns over $26 billion in transactions carried out on Binance's platform, which they report as being untraceable.<\/p>\n\n\n\n

Binance has denied any wrongdoing, but this is not the first time it has bumped heads with regulators.<\/p>\n","post_title":"Binance Set To Re-enter Indian Market with $2 Million Fine Settlement","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"binance-set-to-re-enter-indian-market-with-2-million-fine-settlement","to_ping":"","pinged":"","post_modified":"2024-04-20 04:11:08","post_modified_gmt":"2024-04-19 18:11:08","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16460","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":16362,"post_author":"15","post_date":"2024-04-15 03:52:59","post_date_gmt":"2024-04-14 17:52:59","post_content":"\n

Hong Kong is on the brink of approving spot exchange-traded funds (ETFs) for bitcoin and ether, potentially by Monday, Bloomberg reports<\/a>. This anticipated approval is poised to influence the cryptocurrency markets in the near term. The ETFs, if launched, will enable investors to trade bitcoin and ether on regulated platforms, enhancing the legitimacy and stability of investing in cryptocurrencies.<\/p>\n\n\n\n

Bloomberg\u2019s sources suggest that if the Hong Kong Exchanges & Clearing can finalize the listing details promptly, trading could commence by the end of April. Harvest Global Investments and Bosera Asset Management, in collaboration with HashKey Capital, are frontrunners in receiving the first approvals for these spot cryptocurrency ETFs. This move could cement Hong Kong's position as a major hub for digital assets in Asia, particularly if it leads to a successful market response similar to the U.S., where the approval of bitcoin ETFs in January triggered a price rally, pushing bitcoin\u2019s value to $73,000.<\/p>\n\n\n\n

However, unlike in the U.S., where ether ETFs have not yet been approved, Hong Kong might take the lead in this area as well. The city's market regulator, the Securities and Futures Commission (SFC), has not commented on the developments. Similarly, inquiries to Harvest Global Investments, Bosera Asset Management, HashKey Capital, and HKEX received no immediate response.<\/p>\n\n\n\n

See Related: <\/em><\/strong>Hong Kong Invests Over $6.4M Into Web 3 Development<\/a><\/p>\n\n\n\n

Ether ETF Update<\/h2>\n\n\n\n

The U.S. Securities and Exchange Commission (SEC) has once again delayed its decision on the application for an Ether ETF. A new deadline is set for May 23<\/a>.<\/p>\n\n\n\n

Despite this, analysts remain cautiously optimistic, estimating a 60% chance<\/a> of eventual approval. These delays and the ongoing review process indicate that the SEC is maintaining a cautious approach towards the approval of Ether ETFs. It reflects the complexities involved in integrating such products into the financial system.<\/p>\n","post_title":"Hong Kong Set to Approve Bitcoin And Ether ETFs By Monday","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"hong-kong-set-to-approve-bitcoin-and-ether-etfs-by-monday","to_ping":"","pinged":"","post_modified":"2024-04-15 03:53:05","post_modified_gmt":"2024-04-14 17:53:05","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16362","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":16347,"post_author":"15","post_date":"2024-04-14 00:03:48","post_date_gmt":"2024-04-13 14:03:48","post_content":"\n

Bitfinex Securities El Salvador is initiating a tokenized debt offering to fund the development of a Hampton by Hilton hotel complex spanning 4,484 square meters at El Salvador International Airport.<\/p>\n\n\n\n

In January, Bitfinex Securities<\/a> became the inaugural regulated entity to obtain a license to operate in El Salvador under the country\u2019s newly enacted Digital Asset Securities Law. This move anticipated a surge in demand for regulated investment vehicles, following the successful introduction of U.S. spot bitcoin exchange-traded funds.<\/p>\n\n\n\n

At the time, the tokenized securities platform announced its acceptance of customer applications and outlined a pipeline of potential financial asset issuances projected to launch in the year's first half.<\/p>\n\n\n\n

The tokenized debt, issued by El Salvadoran firm Inversiones Laguardia S.A. de C.V., is poised to be the inaugural token to trade on the platform. Utilizing the Liquid Network, a Bitcoin sidechain, the token will be denoted as HILSV and traded against U.S. dollars and Tether\u2019s USDT stablecoin.<\/p>\n\n\n\n

See Related: <\/em><\/strong>El Salvador Businesses Barely Impacted By Bitcoins Legality<\/a><\/p>\n\n\n\n

El Salvador Leads The Way<\/h2>\n\n\n\n


El Salvador stands at the forefront of cryptocurrency adoption wherein Bitcoin is recognized as legal tender. Since June 2021, it has been the first country to embrace Bitcoin alongside the US dollar for everyday transactions, making significant strides in the global crypto landscape. <\/p>\n\n\n\n

Under President Nayib Bukele, the government has initiated a groundbreaking project, where the state purchases one Bitcoin daily to bolster its reserves. <\/p>\n","post_title":"Bitfinex Securities Launches Tokenized Debt Offering For A Hotel In El Salvador","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"bitfinex-securities-launches-tokenized-debt-offering-for-a-hotel-in-el-salvador","to_ping":"","pinged":"","post_modified":"2024-04-14 00:03:52","post_modified_gmt":"2024-04-13 14:03:52","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16347","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 … 4 5 6 7 8 … 20

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

See Related:<\/em><\/strong> Indian Parliament Passes A 30% Crypto Tax Law<\/a><\/p>\n\n\n\n

Nigeria Detains Binance Executives<\/h2>\n\n\n\n

Two months ago, Nigeria detained two executives of the Binance after they flew into the country. The country's Office of the National Security Adviser detained the two, and their passports were seized. <\/p>\n\n\n\n

Nigerian officials have leveled several charges against the cryptocurrency exchange Binance. The allegation includes exploiting the local economy, contributing to the devaluation of the Nigerian naira, and engaging in money laundering activities. They allege that Binance has been involved in manipulating the exchange rates by engaging in speculative actions and fixing rates. Furthermore, the Nigerian government has expressed concerns over $26 billion in transactions carried out on Binance's platform, which they report as being untraceable.<\/p>\n\n\n\n

Binance has denied any wrongdoing, but this is not the first time it has bumped heads with regulators.<\/p>\n","post_title":"Binance Set To Re-enter Indian Market with $2 Million Fine Settlement","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"binance-set-to-re-enter-indian-market-with-2-million-fine-settlement","to_ping":"","pinged":"","post_modified":"2024-04-20 04:11:08","post_modified_gmt":"2024-04-19 18:11:08","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16460","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":16362,"post_author":"15","post_date":"2024-04-15 03:52:59","post_date_gmt":"2024-04-14 17:52:59","post_content":"\n

Hong Kong is on the brink of approving spot exchange-traded funds (ETFs) for bitcoin and ether, potentially by Monday, Bloomberg reports<\/a>. This anticipated approval is poised to influence the cryptocurrency markets in the near term. The ETFs, if launched, will enable investors to trade bitcoin and ether on regulated platforms, enhancing the legitimacy and stability of investing in cryptocurrencies.<\/p>\n\n\n\n

Bloomberg\u2019s sources suggest that if the Hong Kong Exchanges & Clearing can finalize the listing details promptly, trading could commence by the end of April. Harvest Global Investments and Bosera Asset Management, in collaboration with HashKey Capital, are frontrunners in receiving the first approvals for these spot cryptocurrency ETFs. This move could cement Hong Kong's position as a major hub for digital assets in Asia, particularly if it leads to a successful market response similar to the U.S., where the approval of bitcoin ETFs in January triggered a price rally, pushing bitcoin\u2019s value to $73,000.<\/p>\n\n\n\n

However, unlike in the U.S., where ether ETFs have not yet been approved, Hong Kong might take the lead in this area as well. The city's market regulator, the Securities and Futures Commission (SFC), has not commented on the developments. Similarly, inquiries to Harvest Global Investments, Bosera Asset Management, HashKey Capital, and HKEX received no immediate response.<\/p>\n\n\n\n

See Related: <\/em><\/strong>Hong Kong Invests Over $6.4M Into Web 3 Development<\/a><\/p>\n\n\n\n

Ether ETF Update<\/h2>\n\n\n\n

The U.S. Securities and Exchange Commission (SEC) has once again delayed its decision on the application for an Ether ETF. A new deadline is set for May 23<\/a>.<\/p>\n\n\n\n

Despite this, analysts remain cautiously optimistic, estimating a 60% chance<\/a> of eventual approval. These delays and the ongoing review process indicate that the SEC is maintaining a cautious approach towards the approval of Ether ETFs. It reflects the complexities involved in integrating such products into the financial system.<\/p>\n","post_title":"Hong Kong Set to Approve Bitcoin And Ether ETFs By Monday","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"hong-kong-set-to-approve-bitcoin-and-ether-etfs-by-monday","to_ping":"","pinged":"","post_modified":"2024-04-15 03:53:05","post_modified_gmt":"2024-04-14 17:53:05","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16362","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":16347,"post_author":"15","post_date":"2024-04-14 00:03:48","post_date_gmt":"2024-04-13 14:03:48","post_content":"\n

Bitfinex Securities El Salvador is initiating a tokenized debt offering to fund the development of a Hampton by Hilton hotel complex spanning 4,484 square meters at El Salvador International Airport.<\/p>\n\n\n\n

In January, Bitfinex Securities<\/a> became the inaugural regulated entity to obtain a license to operate in El Salvador under the country\u2019s newly enacted Digital Asset Securities Law. This move anticipated a surge in demand for regulated investment vehicles, following the successful introduction of U.S. spot bitcoin exchange-traded funds.<\/p>\n\n\n\n

At the time, the tokenized securities platform announced its acceptance of customer applications and outlined a pipeline of potential financial asset issuances projected to launch in the year's first half.<\/p>\n\n\n\n

The tokenized debt, issued by El Salvadoran firm Inversiones Laguardia S.A. de C.V., is poised to be the inaugural token to trade on the platform. Utilizing the Liquid Network, a Bitcoin sidechain, the token will be denoted as HILSV and traded against U.S. dollars and Tether\u2019s USDT stablecoin.<\/p>\n\n\n\n

See Related: <\/em><\/strong>El Salvador Businesses Barely Impacted By Bitcoins Legality<\/a><\/p>\n\n\n\n

El Salvador Leads The Way<\/h2>\n\n\n\n


El Salvador stands at the forefront of cryptocurrency adoption wherein Bitcoin is recognized as legal tender. Since June 2021, it has been the first country to embrace Bitcoin alongside the US dollar for everyday transactions, making significant strides in the global crypto landscape. <\/p>\n\n\n\n

Under President Nayib Bukele, the government has initiated a groundbreaking project, where the state purchases one Bitcoin daily to bolster its reserves. <\/p>\n","post_title":"Bitfinex Securities Launches Tokenized Debt Offering For A Hotel In El Salvador","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"bitfinex-securities-launches-tokenized-debt-offering-for-a-hotel-in-el-salvador","to_ping":"","pinged":"","post_modified":"2024-04-14 00:03:52","post_modified_gmt":"2024-04-13 14:03:52","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16347","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 … 4 5 6 7 8 … 20

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

The move comes as part of Binance's efforts to align with India's financial regulations, including adherence to anti-money laundering and taxation statutes. Before the crackdown, Binance held a commanding presence in the Indian market, with an estimated 90% of crypto holdings among Indian investors, totaling about $4 billion.<\/p>\n\n\n\n

See Related:<\/em><\/strong> Indian Parliament Passes A 30% Crypto Tax Law<\/a><\/p>\n\n\n\n

Nigeria Detains Binance Executives<\/h2>\n\n\n\n

Two months ago, Nigeria detained two executives of the Binance after they flew into the country. The country's Office of the National Security Adviser detained the two, and their passports were seized. <\/p>\n\n\n\n

Nigerian officials have leveled several charges against the cryptocurrency exchange Binance. The allegation includes exploiting the local economy, contributing to the devaluation of the Nigerian naira, and engaging in money laundering activities. They allege that Binance has been involved in manipulating the exchange rates by engaging in speculative actions and fixing rates. Furthermore, the Nigerian government has expressed concerns over $26 billion in transactions carried out on Binance's platform, which they report as being untraceable.<\/p>\n\n\n\n

Binance has denied any wrongdoing, but this is not the first time it has bumped heads with regulators.<\/p>\n","post_title":"Binance Set To Re-enter Indian Market with $2 Million Fine Settlement","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"binance-set-to-re-enter-indian-market-with-2-million-fine-settlement","to_ping":"","pinged":"","post_modified":"2024-04-20 04:11:08","post_modified_gmt":"2024-04-19 18:11:08","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16460","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":16362,"post_author":"15","post_date":"2024-04-15 03:52:59","post_date_gmt":"2024-04-14 17:52:59","post_content":"\n

Hong Kong is on the brink of approving spot exchange-traded funds (ETFs) for bitcoin and ether, potentially by Monday, Bloomberg reports<\/a>. This anticipated approval is poised to influence the cryptocurrency markets in the near term. The ETFs, if launched, will enable investors to trade bitcoin and ether on regulated platforms, enhancing the legitimacy and stability of investing in cryptocurrencies.<\/p>\n\n\n\n

Bloomberg\u2019s sources suggest that if the Hong Kong Exchanges & Clearing can finalize the listing details promptly, trading could commence by the end of April. Harvest Global Investments and Bosera Asset Management, in collaboration with HashKey Capital, are frontrunners in receiving the first approvals for these spot cryptocurrency ETFs. This move could cement Hong Kong's position as a major hub for digital assets in Asia, particularly if it leads to a successful market response similar to the U.S., where the approval of bitcoin ETFs in January triggered a price rally, pushing bitcoin\u2019s value to $73,000.<\/p>\n\n\n\n

However, unlike in the U.S., where ether ETFs have not yet been approved, Hong Kong might take the lead in this area as well. The city's market regulator, the Securities and Futures Commission (SFC), has not commented on the developments. Similarly, inquiries to Harvest Global Investments, Bosera Asset Management, HashKey Capital, and HKEX received no immediate response.<\/p>\n\n\n\n

See Related: <\/em><\/strong>Hong Kong Invests Over $6.4M Into Web 3 Development<\/a><\/p>\n\n\n\n

Ether ETF Update<\/h2>\n\n\n\n

The U.S. Securities and Exchange Commission (SEC) has once again delayed its decision on the application for an Ether ETF. A new deadline is set for May 23<\/a>.<\/p>\n\n\n\n

Despite this, analysts remain cautiously optimistic, estimating a 60% chance<\/a> of eventual approval. These delays and the ongoing review process indicate that the SEC is maintaining a cautious approach towards the approval of Ether ETFs. It reflects the complexities involved in integrating such products into the financial system.<\/p>\n","post_title":"Hong Kong Set to Approve Bitcoin And Ether ETFs By Monday","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"hong-kong-set-to-approve-bitcoin-and-ether-etfs-by-monday","to_ping":"","pinged":"","post_modified":"2024-04-15 03:53:05","post_modified_gmt":"2024-04-14 17:53:05","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16362","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":16347,"post_author":"15","post_date":"2024-04-14 00:03:48","post_date_gmt":"2024-04-13 14:03:48","post_content":"\n

Bitfinex Securities El Salvador is initiating a tokenized debt offering to fund the development of a Hampton by Hilton hotel complex spanning 4,484 square meters at El Salvador International Airport.<\/p>\n\n\n\n

In January, Bitfinex Securities<\/a> became the inaugural regulated entity to obtain a license to operate in El Salvador under the country\u2019s newly enacted Digital Asset Securities Law. This move anticipated a surge in demand for regulated investment vehicles, following the successful introduction of U.S. spot bitcoin exchange-traded funds.<\/p>\n\n\n\n

At the time, the tokenized securities platform announced its acceptance of customer applications and outlined a pipeline of potential financial asset issuances projected to launch in the year's first half.<\/p>\n\n\n\n

The tokenized debt, issued by El Salvadoran firm Inversiones Laguardia S.A. de C.V., is poised to be the inaugural token to trade on the platform. Utilizing the Liquid Network, a Bitcoin sidechain, the token will be denoted as HILSV and traded against U.S. dollars and Tether\u2019s USDT stablecoin.<\/p>\n\n\n\n

See Related: <\/em><\/strong>El Salvador Businesses Barely Impacted By Bitcoins Legality<\/a><\/p>\n\n\n\n

El Salvador Leads The Way<\/h2>\n\n\n\n


El Salvador stands at the forefront of cryptocurrency adoption wherein Bitcoin is recognized as legal tender. Since June 2021, it has been the first country to embrace Bitcoin alongside the US dollar for everyday transactions, making significant strides in the global crypto landscape. <\/p>\n\n\n\n

Under President Nayib Bukele, the government has initiated a groundbreaking project, where the state purchases one Bitcoin daily to bolster its reserves. <\/p>\n","post_title":"Bitfinex Securities Launches Tokenized Debt Offering For A Hotel In El Salvador","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"bitfinex-securities-launches-tokenized-debt-offering-for-a-hotel-in-el-salvador","to_ping":"","pinged":"","post_modified":"2024-04-14 00:03:52","post_modified_gmt":"2024-04-13 14:03:52","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16347","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 … 4 5 6 7 8 … 20

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

According to the Economic Times<\/a>, sources close to the matter indicate that Binance is restructuring its operations in South Asia. The cryptocurrency exchange is planning to fully comply with the Financial Intelligence Unit of India, which regulates the local trading of digital assets.<\/p>\n\n\n\n

The move comes as part of Binance's efforts to align with India's financial regulations, including adherence to anti-money laundering and taxation statutes. Before the crackdown, Binance held a commanding presence in the Indian market, with an estimated 90% of crypto holdings among Indian investors, totaling about $4 billion.<\/p>\n\n\n\n

See Related:<\/em><\/strong> Indian Parliament Passes A 30% Crypto Tax Law<\/a><\/p>\n\n\n\n

Nigeria Detains Binance Executives<\/h2>\n\n\n\n

Two months ago, Nigeria detained two executives of the Binance after they flew into the country. The country's Office of the National Security Adviser detained the two, and their passports were seized. <\/p>\n\n\n\n

Nigerian officials have leveled several charges against the cryptocurrency exchange Binance. The allegation includes exploiting the local economy, contributing to the devaluation of the Nigerian naira, and engaging in money laundering activities. They allege that Binance has been involved in manipulating the exchange rates by engaging in speculative actions and fixing rates. Furthermore, the Nigerian government has expressed concerns over $26 billion in transactions carried out on Binance's platform, which they report as being untraceable.<\/p>\n\n\n\n

Binance has denied any wrongdoing, but this is not the first time it has bumped heads with regulators.<\/p>\n","post_title":"Binance Set To Re-enter Indian Market with $2 Million Fine Settlement","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"binance-set-to-re-enter-indian-market-with-2-million-fine-settlement","to_ping":"","pinged":"","post_modified":"2024-04-20 04:11:08","post_modified_gmt":"2024-04-19 18:11:08","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16460","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":16362,"post_author":"15","post_date":"2024-04-15 03:52:59","post_date_gmt":"2024-04-14 17:52:59","post_content":"\n

Hong Kong is on the brink of approving spot exchange-traded funds (ETFs) for bitcoin and ether, potentially by Monday, Bloomberg reports<\/a>. This anticipated approval is poised to influence the cryptocurrency markets in the near term. The ETFs, if launched, will enable investors to trade bitcoin and ether on regulated platforms, enhancing the legitimacy and stability of investing in cryptocurrencies.<\/p>\n\n\n\n

Bloomberg\u2019s sources suggest that if the Hong Kong Exchanges & Clearing can finalize the listing details promptly, trading could commence by the end of April. Harvest Global Investments and Bosera Asset Management, in collaboration with HashKey Capital, are frontrunners in receiving the first approvals for these spot cryptocurrency ETFs. This move could cement Hong Kong's position as a major hub for digital assets in Asia, particularly if it leads to a successful market response similar to the U.S., where the approval of bitcoin ETFs in January triggered a price rally, pushing bitcoin\u2019s value to $73,000.<\/p>\n\n\n\n

However, unlike in the U.S., where ether ETFs have not yet been approved, Hong Kong might take the lead in this area as well. The city's market regulator, the Securities and Futures Commission (SFC), has not commented on the developments. Similarly, inquiries to Harvest Global Investments, Bosera Asset Management, HashKey Capital, and HKEX received no immediate response.<\/p>\n\n\n\n

See Related: <\/em><\/strong>Hong Kong Invests Over $6.4M Into Web 3 Development<\/a><\/p>\n\n\n\n

Ether ETF Update<\/h2>\n\n\n\n

The U.S. Securities and Exchange Commission (SEC) has once again delayed its decision on the application for an Ether ETF. A new deadline is set for May 23<\/a>.<\/p>\n\n\n\n

Despite this, analysts remain cautiously optimistic, estimating a 60% chance<\/a> of eventual approval. These delays and the ongoing review process indicate that the SEC is maintaining a cautious approach towards the approval of Ether ETFs. It reflects the complexities involved in integrating such products into the financial system.<\/p>\n","post_title":"Hong Kong Set to Approve Bitcoin And Ether ETFs By Monday","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"hong-kong-set-to-approve-bitcoin-and-ether-etfs-by-monday","to_ping":"","pinged":"","post_modified":"2024-04-15 03:53:05","post_modified_gmt":"2024-04-14 17:53:05","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16362","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":16347,"post_author":"15","post_date":"2024-04-14 00:03:48","post_date_gmt":"2024-04-13 14:03:48","post_content":"\n

Bitfinex Securities El Salvador is initiating a tokenized debt offering to fund the development of a Hampton by Hilton hotel complex spanning 4,484 square meters at El Salvador International Airport.<\/p>\n\n\n\n

In January, Bitfinex Securities<\/a> became the inaugural regulated entity to obtain a license to operate in El Salvador under the country\u2019s newly enacted Digital Asset Securities Law. This move anticipated a surge in demand for regulated investment vehicles, following the successful introduction of U.S. spot bitcoin exchange-traded funds.<\/p>\n\n\n\n

At the time, the tokenized securities platform announced its acceptance of customer applications and outlined a pipeline of potential financial asset issuances projected to launch in the year's first half.<\/p>\n\n\n\n

The tokenized debt, issued by El Salvadoran firm Inversiones Laguardia S.A. de C.V., is poised to be the inaugural token to trade on the platform. Utilizing the Liquid Network, a Bitcoin sidechain, the token will be denoted as HILSV and traded against U.S. dollars and Tether\u2019s USDT stablecoin.<\/p>\n\n\n\n

See Related: <\/em><\/strong>El Salvador Businesses Barely Impacted By Bitcoins Legality<\/a><\/p>\n\n\n\n

El Salvador Leads The Way<\/h2>\n\n\n\n


El Salvador stands at the forefront of cryptocurrency adoption wherein Bitcoin is recognized as legal tender. Since June 2021, it has been the first country to embrace Bitcoin alongside the US dollar for everyday transactions, making significant strides in the global crypto landscape. <\/p>\n\n\n\n

Under President Nayib Bukele, the government has initiated a groundbreaking project, where the state purchases one Bitcoin daily to bolster its reserves. <\/p>\n","post_title":"Bitfinex Securities Launches Tokenized Debt Offering For A Hotel In El Salvador","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"bitfinex-securities-launches-tokenized-debt-offering-for-a-hotel-in-el-salvador","to_ping":"","pinged":"","post_modified":"2024-04-14 00:03:52","post_modified_gmt":"2024-04-13 14:03:52","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16347","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 … 4 5 6 7 8 … 20

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

Binance, the leading global cryptocurrency exchange, is set to make a comeback in India after agreeing to pay a $2 million penalty. This development follows a period of stringent regulatory scrutiny where the Indian government blocked nine cryptocurrency websites. They also prompted the removal of related apps from Apple and Google stores due to non-compliance with local laws. <\/p>\n\n\n\n

According to the Economic Times<\/a>, sources close to the matter indicate that Binance is restructuring its operations in South Asia. The cryptocurrency exchange is planning to fully comply with the Financial Intelligence Unit of India, which regulates the local trading of digital assets.<\/p>\n\n\n\n

The move comes as part of Binance's efforts to align with India's financial regulations, including adherence to anti-money laundering and taxation statutes. Before the crackdown, Binance held a commanding presence in the Indian market, with an estimated 90% of crypto holdings among Indian investors, totaling about $4 billion.<\/p>\n\n\n\n

See Related:<\/em><\/strong> Indian Parliament Passes A 30% Crypto Tax Law<\/a><\/p>\n\n\n\n

Nigeria Detains Binance Executives<\/h2>\n\n\n\n

Two months ago, Nigeria detained two executives of the Binance after they flew into the country. The country's Office of the National Security Adviser detained the two, and their passports were seized. <\/p>\n\n\n\n

Nigerian officials have leveled several charges against the cryptocurrency exchange Binance. The allegation includes exploiting the local economy, contributing to the devaluation of the Nigerian naira, and engaging in money laundering activities. They allege that Binance has been involved in manipulating the exchange rates by engaging in speculative actions and fixing rates. Furthermore, the Nigerian government has expressed concerns over $26 billion in transactions carried out on Binance's platform, which they report as being untraceable.<\/p>\n\n\n\n

Binance has denied any wrongdoing, but this is not the first time it has bumped heads with regulators.<\/p>\n","post_title":"Binance Set To Re-enter Indian Market with $2 Million Fine Settlement","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"binance-set-to-re-enter-indian-market-with-2-million-fine-settlement","to_ping":"","pinged":"","post_modified":"2024-04-20 04:11:08","post_modified_gmt":"2024-04-19 18:11:08","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16460","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":16362,"post_author":"15","post_date":"2024-04-15 03:52:59","post_date_gmt":"2024-04-14 17:52:59","post_content":"\n

Hong Kong is on the brink of approving spot exchange-traded funds (ETFs) for bitcoin and ether, potentially by Monday, Bloomberg reports<\/a>. This anticipated approval is poised to influence the cryptocurrency markets in the near term. The ETFs, if launched, will enable investors to trade bitcoin and ether on regulated platforms, enhancing the legitimacy and stability of investing in cryptocurrencies.<\/p>\n\n\n\n

Bloomberg\u2019s sources suggest that if the Hong Kong Exchanges & Clearing can finalize the listing details promptly, trading could commence by the end of April. Harvest Global Investments and Bosera Asset Management, in collaboration with HashKey Capital, are frontrunners in receiving the first approvals for these spot cryptocurrency ETFs. This move could cement Hong Kong's position as a major hub for digital assets in Asia, particularly if it leads to a successful market response similar to the U.S., where the approval of bitcoin ETFs in January triggered a price rally, pushing bitcoin\u2019s value to $73,000.<\/p>\n\n\n\n

However, unlike in the U.S., where ether ETFs have not yet been approved, Hong Kong might take the lead in this area as well. The city's market regulator, the Securities and Futures Commission (SFC), has not commented on the developments. Similarly, inquiries to Harvest Global Investments, Bosera Asset Management, HashKey Capital, and HKEX received no immediate response.<\/p>\n\n\n\n

See Related: <\/em><\/strong>Hong Kong Invests Over $6.4M Into Web 3 Development<\/a><\/p>\n\n\n\n

Ether ETF Update<\/h2>\n\n\n\n

The U.S. Securities and Exchange Commission (SEC) has once again delayed its decision on the application for an Ether ETF. A new deadline is set for May 23<\/a>.<\/p>\n\n\n\n

Despite this, analysts remain cautiously optimistic, estimating a 60% chance<\/a> of eventual approval. These delays and the ongoing review process indicate that the SEC is maintaining a cautious approach towards the approval of Ether ETFs. It reflects the complexities involved in integrating such products into the financial system.<\/p>\n","post_title":"Hong Kong Set to Approve Bitcoin And Ether ETFs By Monday","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"hong-kong-set-to-approve-bitcoin-and-ether-etfs-by-monday","to_ping":"","pinged":"","post_modified":"2024-04-15 03:53:05","post_modified_gmt":"2024-04-14 17:53:05","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16362","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":16347,"post_author":"15","post_date":"2024-04-14 00:03:48","post_date_gmt":"2024-04-13 14:03:48","post_content":"\n

Bitfinex Securities El Salvador is initiating a tokenized debt offering to fund the development of a Hampton by Hilton hotel complex spanning 4,484 square meters at El Salvador International Airport.<\/p>\n\n\n\n

In January, Bitfinex Securities<\/a> became the inaugural regulated entity to obtain a license to operate in El Salvador under the country\u2019s newly enacted Digital Asset Securities Law. This move anticipated a surge in demand for regulated investment vehicles, following the successful introduction of U.S. spot bitcoin exchange-traded funds.<\/p>\n\n\n\n

At the time, the tokenized securities platform announced its acceptance of customer applications and outlined a pipeline of potential financial asset issuances projected to launch in the year's first half.<\/p>\n\n\n\n

The tokenized debt, issued by El Salvadoran firm Inversiones Laguardia S.A. de C.V., is poised to be the inaugural token to trade on the platform. Utilizing the Liquid Network, a Bitcoin sidechain, the token will be denoted as HILSV and traded against U.S. dollars and Tether\u2019s USDT stablecoin.<\/p>\n\n\n\n

See Related: <\/em><\/strong>El Salvador Businesses Barely Impacted By Bitcoins Legality<\/a><\/p>\n\n\n\n

El Salvador Leads The Way<\/h2>\n\n\n\n


El Salvador stands at the forefront of cryptocurrency adoption wherein Bitcoin is recognized as legal tender. Since June 2021, it has been the first country to embrace Bitcoin alongside the US dollar for everyday transactions, making significant strides in the global crypto landscape. <\/p>\n\n\n\n

Under President Nayib Bukele, the government has initiated a groundbreaking project, where the state purchases one Bitcoin daily to bolster its reserves. <\/p>\n","post_title":"Bitfinex Securities Launches Tokenized Debt Offering For A Hotel In El Salvador","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"bitfinex-securities-launches-tokenized-debt-offering-for-a-hotel-in-el-salvador","to_ping":"","pinged":"","post_modified":"2024-04-14 00:03:52","post_modified_gmt":"2024-04-13 14:03:52","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16347","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 … 4 5 6 7 8 … 20

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

As of writing, the price of Bitcoin is at $63,760, and 2 blocks remaining until the next Bitcoin halving.<\/p>\n","post_title":"Bitcoin Halving To Slash Miner Earnings, Cuban Eyes AI Shift","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"bitcoin-halving-to-slash-miner-earnings-cuban-eyes-ai-shift","to_ping":"","pinged":"","post_modified":"2024-04-21 10:10:00","post_modified_gmt":"2024-04-21 00:10:00","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16491","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":16460,"post_author":"15","post_date":"2024-04-19 23:38:06","post_date_gmt":"2024-04-19 13:38:06","post_content":"\n

Binance, the leading global cryptocurrency exchange, is set to make a comeback in India after agreeing to pay a $2 million penalty. This development follows a period of stringent regulatory scrutiny where the Indian government blocked nine cryptocurrency websites. They also prompted the removal of related apps from Apple and Google stores due to non-compliance with local laws. <\/p>\n\n\n\n

According to the Economic Times<\/a>, sources close to the matter indicate that Binance is restructuring its operations in South Asia. The cryptocurrency exchange is planning to fully comply with the Financial Intelligence Unit of India, which regulates the local trading of digital assets.<\/p>\n\n\n\n

The move comes as part of Binance's efforts to align with India's financial regulations, including adherence to anti-money laundering and taxation statutes. Before the crackdown, Binance held a commanding presence in the Indian market, with an estimated 90% of crypto holdings among Indian investors, totaling about $4 billion.<\/p>\n\n\n\n

See Related:<\/em><\/strong> Indian Parliament Passes A 30% Crypto Tax Law<\/a><\/p>\n\n\n\n

Nigeria Detains Binance Executives<\/h2>\n\n\n\n

Two months ago, Nigeria detained two executives of the Binance after they flew into the country. The country's Office of the National Security Adviser detained the two, and their passports were seized. <\/p>\n\n\n\n

Nigerian officials have leveled several charges against the cryptocurrency exchange Binance. The allegation includes exploiting the local economy, contributing to the devaluation of the Nigerian naira, and engaging in money laundering activities. They allege that Binance has been involved in manipulating the exchange rates by engaging in speculative actions and fixing rates. Furthermore, the Nigerian government has expressed concerns over $26 billion in transactions carried out on Binance's platform, which they report as being untraceable.<\/p>\n\n\n\n

Binance has denied any wrongdoing, but this is not the first time it has bumped heads with regulators.<\/p>\n","post_title":"Binance Set To Re-enter Indian Market with $2 Million Fine Settlement","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"binance-set-to-re-enter-indian-market-with-2-million-fine-settlement","to_ping":"","pinged":"","post_modified":"2024-04-20 04:11:08","post_modified_gmt":"2024-04-19 18:11:08","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16460","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":16362,"post_author":"15","post_date":"2024-04-15 03:52:59","post_date_gmt":"2024-04-14 17:52:59","post_content":"\n

Hong Kong is on the brink of approving spot exchange-traded funds (ETFs) for bitcoin and ether, potentially by Monday, Bloomberg reports<\/a>. This anticipated approval is poised to influence the cryptocurrency markets in the near term. The ETFs, if launched, will enable investors to trade bitcoin and ether on regulated platforms, enhancing the legitimacy and stability of investing in cryptocurrencies.<\/p>\n\n\n\n

Bloomberg\u2019s sources suggest that if the Hong Kong Exchanges & Clearing can finalize the listing details promptly, trading could commence by the end of April. Harvest Global Investments and Bosera Asset Management, in collaboration with HashKey Capital, are frontrunners in receiving the first approvals for these spot cryptocurrency ETFs. This move could cement Hong Kong's position as a major hub for digital assets in Asia, particularly if it leads to a successful market response similar to the U.S., where the approval of bitcoin ETFs in January triggered a price rally, pushing bitcoin\u2019s value to $73,000.<\/p>\n\n\n\n

However, unlike in the U.S., where ether ETFs have not yet been approved, Hong Kong might take the lead in this area as well. The city's market regulator, the Securities and Futures Commission (SFC), has not commented on the developments. Similarly, inquiries to Harvest Global Investments, Bosera Asset Management, HashKey Capital, and HKEX received no immediate response.<\/p>\n\n\n\n

See Related: <\/em><\/strong>Hong Kong Invests Over $6.4M Into Web 3 Development<\/a><\/p>\n\n\n\n

Ether ETF Update<\/h2>\n\n\n\n

The U.S. Securities and Exchange Commission (SEC) has once again delayed its decision on the application for an Ether ETF. A new deadline is set for May 23<\/a>.<\/p>\n\n\n\n

Despite this, analysts remain cautiously optimistic, estimating a 60% chance<\/a> of eventual approval. These delays and the ongoing review process indicate that the SEC is maintaining a cautious approach towards the approval of Ether ETFs. It reflects the complexities involved in integrating such products into the financial system.<\/p>\n","post_title":"Hong Kong Set to Approve Bitcoin And Ether ETFs By Monday","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"hong-kong-set-to-approve-bitcoin-and-ether-etfs-by-monday","to_ping":"","pinged":"","post_modified":"2024-04-15 03:53:05","post_modified_gmt":"2024-04-14 17:53:05","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16362","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":16347,"post_author":"15","post_date":"2024-04-14 00:03:48","post_date_gmt":"2024-04-13 14:03:48","post_content":"\n

Bitfinex Securities El Salvador is initiating a tokenized debt offering to fund the development of a Hampton by Hilton hotel complex spanning 4,484 square meters at El Salvador International Airport.<\/p>\n\n\n\n

In January, Bitfinex Securities<\/a> became the inaugural regulated entity to obtain a license to operate in El Salvador under the country\u2019s newly enacted Digital Asset Securities Law. This move anticipated a surge in demand for regulated investment vehicles, following the successful introduction of U.S. spot bitcoin exchange-traded funds.<\/p>\n\n\n\n

At the time, the tokenized securities platform announced its acceptance of customer applications and outlined a pipeline of potential financial asset issuances projected to launch in the year's first half.<\/p>\n\n\n\n

The tokenized debt, issued by El Salvadoran firm Inversiones Laguardia S.A. de C.V., is poised to be the inaugural token to trade on the platform. Utilizing the Liquid Network, a Bitcoin sidechain, the token will be denoted as HILSV and traded against U.S. dollars and Tether\u2019s USDT stablecoin.<\/p>\n\n\n\n

See Related: <\/em><\/strong>El Salvador Businesses Barely Impacted By Bitcoins Legality<\/a><\/p>\n\n\n\n

El Salvador Leads The Way<\/h2>\n\n\n\n


El Salvador stands at the forefront of cryptocurrency adoption wherein Bitcoin is recognized as legal tender. Since June 2021, it has been the first country to embrace Bitcoin alongside the US dollar for everyday transactions, making significant strides in the global crypto landscape. <\/p>\n\n\n\n

Under President Nayib Bukele, the government has initiated a groundbreaking project, where the state purchases one Bitcoin daily to bolster its reserves. <\/p>\n","post_title":"Bitfinex Securities Launches Tokenized Debt Offering For A Hotel In El Salvador","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"bitfinex-securities-launches-tokenized-debt-offering-for-a-hotel-in-el-salvador","to_ping":"","pinged":"","post_modified":"2024-04-14 00:03:52","post_modified_gmt":"2024-04-13 14:03:52","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16347","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 … 4 5 6 7 8 … 20

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

Bitcoin halving is a significant event in the cryptocurrency world that occurs approximately every four years, or after 210,000 blocks are mined. During a halving, bitcoin miners' reward for verifying transactions and adding them to the blockchain is reduced by half. This mechanism was designed by Satoshi Nakamoto, the anonymous creator of Bitcoin, to control inflation by limiting the total number of bitcoins that can ever be in circulation to 21 million.<\/p>\n\n\n\n

As of writing, the price of Bitcoin is at $63,760, and 2 blocks remaining until the next Bitcoin halving.<\/p>\n","post_title":"Bitcoin Halving To Slash Miner Earnings, Cuban Eyes AI Shift","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"bitcoin-halving-to-slash-miner-earnings-cuban-eyes-ai-shift","to_ping":"","pinged":"","post_modified":"2024-04-21 10:10:00","post_modified_gmt":"2024-04-21 00:10:00","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16491","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":16460,"post_author":"15","post_date":"2024-04-19 23:38:06","post_date_gmt":"2024-04-19 13:38:06","post_content":"\n

Binance, the leading global cryptocurrency exchange, is set to make a comeback in India after agreeing to pay a $2 million penalty. This development follows a period of stringent regulatory scrutiny where the Indian government blocked nine cryptocurrency websites. They also prompted the removal of related apps from Apple and Google stores due to non-compliance with local laws. <\/p>\n\n\n\n

According to the Economic Times<\/a>, sources close to the matter indicate that Binance is restructuring its operations in South Asia. The cryptocurrency exchange is planning to fully comply with the Financial Intelligence Unit of India, which regulates the local trading of digital assets.<\/p>\n\n\n\n

The move comes as part of Binance's efforts to align with India's financial regulations, including adherence to anti-money laundering and taxation statutes. Before the crackdown, Binance held a commanding presence in the Indian market, with an estimated 90% of crypto holdings among Indian investors, totaling about $4 billion.<\/p>\n\n\n\n

See Related:<\/em><\/strong> Indian Parliament Passes A 30% Crypto Tax Law<\/a><\/p>\n\n\n\n

Nigeria Detains Binance Executives<\/h2>\n\n\n\n

Two months ago, Nigeria detained two executives of the Binance after they flew into the country. The country's Office of the National Security Adviser detained the two, and their passports were seized. <\/p>\n\n\n\n

Nigerian officials have leveled several charges against the cryptocurrency exchange Binance. The allegation includes exploiting the local economy, contributing to the devaluation of the Nigerian naira, and engaging in money laundering activities. They allege that Binance has been involved in manipulating the exchange rates by engaging in speculative actions and fixing rates. Furthermore, the Nigerian government has expressed concerns over $26 billion in transactions carried out on Binance's platform, which they report as being untraceable.<\/p>\n\n\n\n

Binance has denied any wrongdoing, but this is not the first time it has bumped heads with regulators.<\/p>\n","post_title":"Binance Set To Re-enter Indian Market with $2 Million Fine Settlement","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"binance-set-to-re-enter-indian-market-with-2-million-fine-settlement","to_ping":"","pinged":"","post_modified":"2024-04-20 04:11:08","post_modified_gmt":"2024-04-19 18:11:08","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16460","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":16362,"post_author":"15","post_date":"2024-04-15 03:52:59","post_date_gmt":"2024-04-14 17:52:59","post_content":"\n

Hong Kong is on the brink of approving spot exchange-traded funds (ETFs) for bitcoin and ether, potentially by Monday, Bloomberg reports<\/a>. This anticipated approval is poised to influence the cryptocurrency markets in the near term. The ETFs, if launched, will enable investors to trade bitcoin and ether on regulated platforms, enhancing the legitimacy and stability of investing in cryptocurrencies.<\/p>\n\n\n\n

Bloomberg\u2019s sources suggest that if the Hong Kong Exchanges & Clearing can finalize the listing details promptly, trading could commence by the end of April. Harvest Global Investments and Bosera Asset Management, in collaboration with HashKey Capital, are frontrunners in receiving the first approvals for these spot cryptocurrency ETFs. This move could cement Hong Kong's position as a major hub for digital assets in Asia, particularly if it leads to a successful market response similar to the U.S., where the approval of bitcoin ETFs in January triggered a price rally, pushing bitcoin\u2019s value to $73,000.<\/p>\n\n\n\n

However, unlike in the U.S., where ether ETFs have not yet been approved, Hong Kong might take the lead in this area as well. The city's market regulator, the Securities and Futures Commission (SFC), has not commented on the developments. Similarly, inquiries to Harvest Global Investments, Bosera Asset Management, HashKey Capital, and HKEX received no immediate response.<\/p>\n\n\n\n

See Related: <\/em><\/strong>Hong Kong Invests Over $6.4M Into Web 3 Development<\/a><\/p>\n\n\n\n

Ether ETF Update<\/h2>\n\n\n\n

The U.S. Securities and Exchange Commission (SEC) has once again delayed its decision on the application for an Ether ETF. A new deadline is set for May 23<\/a>.<\/p>\n\n\n\n

Despite this, analysts remain cautiously optimistic, estimating a 60% chance<\/a> of eventual approval. These delays and the ongoing review process indicate that the SEC is maintaining a cautious approach towards the approval of Ether ETFs. It reflects the complexities involved in integrating such products into the financial system.<\/p>\n","post_title":"Hong Kong Set to Approve Bitcoin And Ether ETFs By Monday","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"hong-kong-set-to-approve-bitcoin-and-ether-etfs-by-monday","to_ping":"","pinged":"","post_modified":"2024-04-15 03:53:05","post_modified_gmt":"2024-04-14 17:53:05","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16362","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":16347,"post_author":"15","post_date":"2024-04-14 00:03:48","post_date_gmt":"2024-04-13 14:03:48","post_content":"\n

Bitfinex Securities El Salvador is initiating a tokenized debt offering to fund the development of a Hampton by Hilton hotel complex spanning 4,484 square meters at El Salvador International Airport.<\/p>\n\n\n\n

In January, Bitfinex Securities<\/a> became the inaugural regulated entity to obtain a license to operate in El Salvador under the country\u2019s newly enacted Digital Asset Securities Law. This move anticipated a surge in demand for regulated investment vehicles, following the successful introduction of U.S. spot bitcoin exchange-traded funds.<\/p>\n\n\n\n

At the time, the tokenized securities platform announced its acceptance of customer applications and outlined a pipeline of potential financial asset issuances projected to launch in the year's first half.<\/p>\n\n\n\n

The tokenized debt, issued by El Salvadoran firm Inversiones Laguardia S.A. de C.V., is poised to be the inaugural token to trade on the platform. Utilizing the Liquid Network, a Bitcoin sidechain, the token will be denoted as HILSV and traded against U.S. dollars and Tether\u2019s USDT stablecoin.<\/p>\n\n\n\n

See Related: <\/em><\/strong>El Salvador Businesses Barely Impacted By Bitcoins Legality<\/a><\/p>\n\n\n\n

El Salvador Leads The Way<\/h2>\n\n\n\n


El Salvador stands at the forefront of cryptocurrency adoption wherein Bitcoin is recognized as legal tender. Since June 2021, it has been the first country to embrace Bitcoin alongside the US dollar for everyday transactions, making significant strides in the global crypto landscape. <\/p>\n\n\n\n

Under President Nayib Bukele, the government has initiated a groundbreaking project, where the state purchases one Bitcoin daily to bolster its reserves. <\/p>\n","post_title":"Bitfinex Securities Launches Tokenized Debt Offering For A Hotel In El Salvador","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"bitfinex-securities-launches-tokenized-debt-offering-for-a-hotel-in-el-salvador","to_ping":"","pinged":"","post_modified":"2024-04-14 00:03:52","post_modified_gmt":"2024-04-13 14:03:52","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16347","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 … 4 5 6 7 8 … 20

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

Bitcoin Halving is Coming<\/h2>\n\n\n\n

Bitcoin halving is a significant event in the cryptocurrency world that occurs approximately every four years, or after 210,000 blocks are mined. During a halving, bitcoin miners' reward for verifying transactions and adding them to the blockchain is reduced by half. This mechanism was designed by Satoshi Nakamoto, the anonymous creator of Bitcoin, to control inflation by limiting the total number of bitcoins that can ever be in circulation to 21 million.<\/p>\n\n\n\n

As of writing, the price of Bitcoin is at $63,760, and 2 blocks remaining until the next Bitcoin halving.<\/p>\n","post_title":"Bitcoin Halving To Slash Miner Earnings, Cuban Eyes AI Shift","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"bitcoin-halving-to-slash-miner-earnings-cuban-eyes-ai-shift","to_ping":"","pinged":"","post_modified":"2024-04-21 10:10:00","post_modified_gmt":"2024-04-21 00:10:00","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16491","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":16460,"post_author":"15","post_date":"2024-04-19 23:38:06","post_date_gmt":"2024-04-19 13:38:06","post_content":"\n

Binance, the leading global cryptocurrency exchange, is set to make a comeback in India after agreeing to pay a $2 million penalty. This development follows a period of stringent regulatory scrutiny where the Indian government blocked nine cryptocurrency websites. They also prompted the removal of related apps from Apple and Google stores due to non-compliance with local laws. <\/p>\n\n\n\n

According to the Economic Times<\/a>, sources close to the matter indicate that Binance is restructuring its operations in South Asia. The cryptocurrency exchange is planning to fully comply with the Financial Intelligence Unit of India, which regulates the local trading of digital assets.<\/p>\n\n\n\n

The move comes as part of Binance's efforts to align with India's financial regulations, including adherence to anti-money laundering and taxation statutes. Before the crackdown, Binance held a commanding presence in the Indian market, with an estimated 90% of crypto holdings among Indian investors, totaling about $4 billion.<\/p>\n\n\n\n

See Related:<\/em><\/strong> Indian Parliament Passes A 30% Crypto Tax Law<\/a><\/p>\n\n\n\n

Nigeria Detains Binance Executives<\/h2>\n\n\n\n

Two months ago, Nigeria detained two executives of the Binance after they flew into the country. The country's Office of the National Security Adviser detained the two, and their passports were seized. <\/p>\n\n\n\n

Nigerian officials have leveled several charges against the cryptocurrency exchange Binance. The allegation includes exploiting the local economy, contributing to the devaluation of the Nigerian naira, and engaging in money laundering activities. They allege that Binance has been involved in manipulating the exchange rates by engaging in speculative actions and fixing rates. Furthermore, the Nigerian government has expressed concerns over $26 billion in transactions carried out on Binance's platform, which they report as being untraceable.<\/p>\n\n\n\n

Binance has denied any wrongdoing, but this is not the first time it has bumped heads with regulators.<\/p>\n","post_title":"Binance Set To Re-enter Indian Market with $2 Million Fine Settlement","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"binance-set-to-re-enter-indian-market-with-2-million-fine-settlement","to_ping":"","pinged":"","post_modified":"2024-04-20 04:11:08","post_modified_gmt":"2024-04-19 18:11:08","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16460","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":16362,"post_author":"15","post_date":"2024-04-15 03:52:59","post_date_gmt":"2024-04-14 17:52:59","post_content":"\n

Hong Kong is on the brink of approving spot exchange-traded funds (ETFs) for bitcoin and ether, potentially by Monday, Bloomberg reports<\/a>. This anticipated approval is poised to influence the cryptocurrency markets in the near term. The ETFs, if launched, will enable investors to trade bitcoin and ether on regulated platforms, enhancing the legitimacy and stability of investing in cryptocurrencies.<\/p>\n\n\n\n

Bloomberg\u2019s sources suggest that if the Hong Kong Exchanges & Clearing can finalize the listing details promptly, trading could commence by the end of April. Harvest Global Investments and Bosera Asset Management, in collaboration with HashKey Capital, are frontrunners in receiving the first approvals for these spot cryptocurrency ETFs. This move could cement Hong Kong's position as a major hub for digital assets in Asia, particularly if it leads to a successful market response similar to the U.S., where the approval of bitcoin ETFs in January triggered a price rally, pushing bitcoin\u2019s value to $73,000.<\/p>\n\n\n\n

However, unlike in the U.S., where ether ETFs have not yet been approved, Hong Kong might take the lead in this area as well. The city's market regulator, the Securities and Futures Commission (SFC), has not commented on the developments. Similarly, inquiries to Harvest Global Investments, Bosera Asset Management, HashKey Capital, and HKEX received no immediate response.<\/p>\n\n\n\n

See Related: <\/em><\/strong>Hong Kong Invests Over $6.4M Into Web 3 Development<\/a><\/p>\n\n\n\n

Ether ETF Update<\/h2>\n\n\n\n

The U.S. Securities and Exchange Commission (SEC) has once again delayed its decision on the application for an Ether ETF. A new deadline is set for May 23<\/a>.<\/p>\n\n\n\n

Despite this, analysts remain cautiously optimistic, estimating a 60% chance<\/a> of eventual approval. These delays and the ongoing review process indicate that the SEC is maintaining a cautious approach towards the approval of Ether ETFs. It reflects the complexities involved in integrating such products into the financial system.<\/p>\n","post_title":"Hong Kong Set to Approve Bitcoin And Ether ETFs By Monday","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"hong-kong-set-to-approve-bitcoin-and-ether-etfs-by-monday","to_ping":"","pinged":"","post_modified":"2024-04-15 03:53:05","post_modified_gmt":"2024-04-14 17:53:05","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16362","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":16347,"post_author":"15","post_date":"2024-04-14 00:03:48","post_date_gmt":"2024-04-13 14:03:48","post_content":"\n

Bitfinex Securities El Salvador is initiating a tokenized debt offering to fund the development of a Hampton by Hilton hotel complex spanning 4,484 square meters at El Salvador International Airport.<\/p>\n\n\n\n

In January, Bitfinex Securities<\/a> became the inaugural regulated entity to obtain a license to operate in El Salvador under the country\u2019s newly enacted Digital Asset Securities Law. This move anticipated a surge in demand for regulated investment vehicles, following the successful introduction of U.S. spot bitcoin exchange-traded funds.<\/p>\n\n\n\n

At the time, the tokenized securities platform announced its acceptance of customer applications and outlined a pipeline of potential financial asset issuances projected to launch in the year's first half.<\/p>\n\n\n\n

The tokenized debt, issued by El Salvadoran firm Inversiones Laguardia S.A. de C.V., is poised to be the inaugural token to trade on the platform. Utilizing the Liquid Network, a Bitcoin sidechain, the token will be denoted as HILSV and traded against U.S. dollars and Tether\u2019s USDT stablecoin.<\/p>\n\n\n\n

See Related: <\/em><\/strong>El Salvador Businesses Barely Impacted By Bitcoins Legality<\/a><\/p>\n\n\n\n

El Salvador Leads The Way<\/h2>\n\n\n\n


El Salvador stands at the forefront of cryptocurrency adoption wherein Bitcoin is recognized as legal tender. Since June 2021, it has been the first country to embrace Bitcoin alongside the US dollar for everyday transactions, making significant strides in the global crypto landscape. <\/p>\n\n\n\n

Under President Nayib Bukele, the government has initiated a groundbreaking project, where the state purchases one Bitcoin daily to bolster its reserves. <\/p>\n","post_title":"Bitfinex Securities Launches Tokenized Debt Offering For A Hotel In El Salvador","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"bitfinex-securities-launches-tokenized-debt-offering-for-a-hotel-in-el-salvador","to_ping":"","pinged":"","post_modified":"2024-04-14 00:03:52","post_modified_gmt":"2024-04-13 14:03:52","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16347","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 … 4 5 6 7 8 … 20

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

See Related:<\/em><\/strong> Cryptocurrency Statistics And Insights (2022)<\/a><\/p>\n\n\n\n

Bitcoin Halving is Coming<\/h2>\n\n\n\n

Bitcoin halving is a significant event in the cryptocurrency world that occurs approximately every four years, or after 210,000 blocks are mined. During a halving, bitcoin miners' reward for verifying transactions and adding them to the blockchain is reduced by half. This mechanism was designed by Satoshi Nakamoto, the anonymous creator of Bitcoin, to control inflation by limiting the total number of bitcoins that can ever be in circulation to 21 million.<\/p>\n\n\n\n

As of writing, the price of Bitcoin is at $63,760, and 2 blocks remaining until the next Bitcoin halving.<\/p>\n","post_title":"Bitcoin Halving To Slash Miner Earnings, Cuban Eyes AI Shift","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"bitcoin-halving-to-slash-miner-earnings-cuban-eyes-ai-shift","to_ping":"","pinged":"","post_modified":"2024-04-21 10:10:00","post_modified_gmt":"2024-04-21 00:10:00","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16491","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":16460,"post_author":"15","post_date":"2024-04-19 23:38:06","post_date_gmt":"2024-04-19 13:38:06","post_content":"\n

Binance, the leading global cryptocurrency exchange, is set to make a comeback in India after agreeing to pay a $2 million penalty. This development follows a period of stringent regulatory scrutiny where the Indian government blocked nine cryptocurrency websites. They also prompted the removal of related apps from Apple and Google stores due to non-compliance with local laws. <\/p>\n\n\n\n

According to the Economic Times<\/a>, sources close to the matter indicate that Binance is restructuring its operations in South Asia. The cryptocurrency exchange is planning to fully comply with the Financial Intelligence Unit of India, which regulates the local trading of digital assets.<\/p>\n\n\n\n

The move comes as part of Binance's efforts to align with India's financial regulations, including adherence to anti-money laundering and taxation statutes. Before the crackdown, Binance held a commanding presence in the Indian market, with an estimated 90% of crypto holdings among Indian investors, totaling about $4 billion.<\/p>\n\n\n\n

See Related:<\/em><\/strong> Indian Parliament Passes A 30% Crypto Tax Law<\/a><\/p>\n\n\n\n

Nigeria Detains Binance Executives<\/h2>\n\n\n\n

Two months ago, Nigeria detained two executives of the Binance after they flew into the country. The country's Office of the National Security Adviser detained the two, and their passports were seized. <\/p>\n\n\n\n

Nigerian officials have leveled several charges against the cryptocurrency exchange Binance. The allegation includes exploiting the local economy, contributing to the devaluation of the Nigerian naira, and engaging in money laundering activities. They allege that Binance has been involved in manipulating the exchange rates by engaging in speculative actions and fixing rates. Furthermore, the Nigerian government has expressed concerns over $26 billion in transactions carried out on Binance's platform, which they report as being untraceable.<\/p>\n\n\n\n

Binance has denied any wrongdoing, but this is not the first time it has bumped heads with regulators.<\/p>\n","post_title":"Binance Set To Re-enter Indian Market with $2 Million Fine Settlement","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"binance-set-to-re-enter-indian-market-with-2-million-fine-settlement","to_ping":"","pinged":"","post_modified":"2024-04-20 04:11:08","post_modified_gmt":"2024-04-19 18:11:08","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16460","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":16362,"post_author":"15","post_date":"2024-04-15 03:52:59","post_date_gmt":"2024-04-14 17:52:59","post_content":"\n

Hong Kong is on the brink of approving spot exchange-traded funds (ETFs) for bitcoin and ether, potentially by Monday, Bloomberg reports<\/a>. This anticipated approval is poised to influence the cryptocurrency markets in the near term. The ETFs, if launched, will enable investors to trade bitcoin and ether on regulated platforms, enhancing the legitimacy and stability of investing in cryptocurrencies.<\/p>\n\n\n\n

Bloomberg\u2019s sources suggest that if the Hong Kong Exchanges & Clearing can finalize the listing details promptly, trading could commence by the end of April. Harvest Global Investments and Bosera Asset Management, in collaboration with HashKey Capital, are frontrunners in receiving the first approvals for these spot cryptocurrency ETFs. This move could cement Hong Kong's position as a major hub for digital assets in Asia, particularly if it leads to a successful market response similar to the U.S., where the approval of bitcoin ETFs in January triggered a price rally, pushing bitcoin\u2019s value to $73,000.<\/p>\n\n\n\n

However, unlike in the U.S., where ether ETFs have not yet been approved, Hong Kong might take the lead in this area as well. The city's market regulator, the Securities and Futures Commission (SFC), has not commented on the developments. Similarly, inquiries to Harvest Global Investments, Bosera Asset Management, HashKey Capital, and HKEX received no immediate response.<\/p>\n\n\n\n

See Related: <\/em><\/strong>Hong Kong Invests Over $6.4M Into Web 3 Development<\/a><\/p>\n\n\n\n

Ether ETF Update<\/h2>\n\n\n\n

The U.S. Securities and Exchange Commission (SEC) has once again delayed its decision on the application for an Ether ETF. A new deadline is set for May 23<\/a>.<\/p>\n\n\n\n

Despite this, analysts remain cautiously optimistic, estimating a 60% chance<\/a> of eventual approval. These delays and the ongoing review process indicate that the SEC is maintaining a cautious approach towards the approval of Ether ETFs. It reflects the complexities involved in integrating such products into the financial system.<\/p>\n","post_title":"Hong Kong Set to Approve Bitcoin And Ether ETFs By Monday","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"hong-kong-set-to-approve-bitcoin-and-ether-etfs-by-monday","to_ping":"","pinged":"","post_modified":"2024-04-15 03:53:05","post_modified_gmt":"2024-04-14 17:53:05","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16362","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":16347,"post_author":"15","post_date":"2024-04-14 00:03:48","post_date_gmt":"2024-04-13 14:03:48","post_content":"\n

Bitfinex Securities El Salvador is initiating a tokenized debt offering to fund the development of a Hampton by Hilton hotel complex spanning 4,484 square meters at El Salvador International Airport.<\/p>\n\n\n\n

In January, Bitfinex Securities<\/a> became the inaugural regulated entity to obtain a license to operate in El Salvador under the country\u2019s newly enacted Digital Asset Securities Law. This move anticipated a surge in demand for regulated investment vehicles, following the successful introduction of U.S. spot bitcoin exchange-traded funds.<\/p>\n\n\n\n

At the time, the tokenized securities platform announced its acceptance of customer applications and outlined a pipeline of potential financial asset issuances projected to launch in the year's first half.<\/p>\n\n\n\n

The tokenized debt, issued by El Salvadoran firm Inversiones Laguardia S.A. de C.V., is poised to be the inaugural token to trade on the platform. Utilizing the Liquid Network, a Bitcoin sidechain, the token will be denoted as HILSV and traded against U.S. dollars and Tether\u2019s USDT stablecoin.<\/p>\n\n\n\n

See Related: <\/em><\/strong>El Salvador Businesses Barely Impacted By Bitcoins Legality<\/a><\/p>\n\n\n\n

El Salvador Leads The Way<\/h2>\n\n\n\n


El Salvador stands at the forefront of cryptocurrency adoption wherein Bitcoin is recognized as legal tender. Since June 2021, it has been the first country to embrace Bitcoin alongside the US dollar for everyday transactions, making significant strides in the global crypto landscape. <\/p>\n\n\n\n

Under President Nayib Bukele, the government has initiated a groundbreaking project, where the state purchases one Bitcoin daily to bolster its reserves. <\/p>\n","post_title":"Bitfinex Securities Launches Tokenized Debt Offering For A Hotel In El Salvador","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"bitfinex-securities-launches-tokenized-debt-offering-for-a-hotel-in-el-salvador","to_ping":"","pinged":"","post_modified":"2024-04-14 00:03:52","post_modified_gmt":"2024-04-13 14:03:52","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16347","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 … 4 5 6 7 8 … 20

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

The intersection of AI and cryptocurrency mining is already seeing practical applications, with companies like Xive and Hive Digital Technologies expanding into AI to bolster their primary mining operations. <\/p>\n\n\n\n

See Related:<\/em><\/strong> Cryptocurrency Statistics And Insights (2022)<\/a><\/p>\n\n\n\n

Bitcoin Halving is Coming<\/h2>\n\n\n\n

Bitcoin halving is a significant event in the cryptocurrency world that occurs approximately every four years, or after 210,000 blocks are mined. During a halving, bitcoin miners' reward for verifying transactions and adding them to the blockchain is reduced by half. This mechanism was designed by Satoshi Nakamoto, the anonymous creator of Bitcoin, to control inflation by limiting the total number of bitcoins that can ever be in circulation to 21 million.<\/p>\n\n\n\n

As of writing, the price of Bitcoin is at $63,760, and 2 blocks remaining until the next Bitcoin halving.<\/p>\n","post_title":"Bitcoin Halving To Slash Miner Earnings, Cuban Eyes AI Shift","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"bitcoin-halving-to-slash-miner-earnings-cuban-eyes-ai-shift","to_ping":"","pinged":"","post_modified":"2024-04-21 10:10:00","post_modified_gmt":"2024-04-21 00:10:00","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16491","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":16460,"post_author":"15","post_date":"2024-04-19 23:38:06","post_date_gmt":"2024-04-19 13:38:06","post_content":"\n

Binance, the leading global cryptocurrency exchange, is set to make a comeback in India after agreeing to pay a $2 million penalty. This development follows a period of stringent regulatory scrutiny where the Indian government blocked nine cryptocurrency websites. They also prompted the removal of related apps from Apple and Google stores due to non-compliance with local laws. <\/p>\n\n\n\n

According to the Economic Times<\/a>, sources close to the matter indicate that Binance is restructuring its operations in South Asia. The cryptocurrency exchange is planning to fully comply with the Financial Intelligence Unit of India, which regulates the local trading of digital assets.<\/p>\n\n\n\n

The move comes as part of Binance's efforts to align with India's financial regulations, including adherence to anti-money laundering and taxation statutes. Before the crackdown, Binance held a commanding presence in the Indian market, with an estimated 90% of crypto holdings among Indian investors, totaling about $4 billion.<\/p>\n\n\n\n

See Related:<\/em><\/strong> Indian Parliament Passes A 30% Crypto Tax Law<\/a><\/p>\n\n\n\n

Nigeria Detains Binance Executives<\/h2>\n\n\n\n

Two months ago, Nigeria detained two executives of the Binance after they flew into the country. The country's Office of the National Security Adviser detained the two, and their passports were seized. <\/p>\n\n\n\n

Nigerian officials have leveled several charges against the cryptocurrency exchange Binance. The allegation includes exploiting the local economy, contributing to the devaluation of the Nigerian naira, and engaging in money laundering activities. They allege that Binance has been involved in manipulating the exchange rates by engaging in speculative actions and fixing rates. Furthermore, the Nigerian government has expressed concerns over $26 billion in transactions carried out on Binance's platform, which they report as being untraceable.<\/p>\n\n\n\n

Binance has denied any wrongdoing, but this is not the first time it has bumped heads with regulators.<\/p>\n","post_title":"Binance Set To Re-enter Indian Market with $2 Million Fine Settlement","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"binance-set-to-re-enter-indian-market-with-2-million-fine-settlement","to_ping":"","pinged":"","post_modified":"2024-04-20 04:11:08","post_modified_gmt":"2024-04-19 18:11:08","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16460","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":16362,"post_author":"15","post_date":"2024-04-15 03:52:59","post_date_gmt":"2024-04-14 17:52:59","post_content":"\n

Hong Kong is on the brink of approving spot exchange-traded funds (ETFs) for bitcoin and ether, potentially by Monday, Bloomberg reports<\/a>. This anticipated approval is poised to influence the cryptocurrency markets in the near term. The ETFs, if launched, will enable investors to trade bitcoin and ether on regulated platforms, enhancing the legitimacy and stability of investing in cryptocurrencies.<\/p>\n\n\n\n

Bloomberg\u2019s sources suggest that if the Hong Kong Exchanges & Clearing can finalize the listing details promptly, trading could commence by the end of April. Harvest Global Investments and Bosera Asset Management, in collaboration with HashKey Capital, are frontrunners in receiving the first approvals for these spot cryptocurrency ETFs. This move could cement Hong Kong's position as a major hub for digital assets in Asia, particularly if it leads to a successful market response similar to the U.S., where the approval of bitcoin ETFs in January triggered a price rally, pushing bitcoin\u2019s value to $73,000.<\/p>\n\n\n\n

However, unlike in the U.S., where ether ETFs have not yet been approved, Hong Kong might take the lead in this area as well. The city's market regulator, the Securities and Futures Commission (SFC), has not commented on the developments. Similarly, inquiries to Harvest Global Investments, Bosera Asset Management, HashKey Capital, and HKEX received no immediate response.<\/p>\n\n\n\n

See Related: <\/em><\/strong>Hong Kong Invests Over $6.4M Into Web 3 Development<\/a><\/p>\n\n\n\n

Ether ETF Update<\/h2>\n\n\n\n

The U.S. Securities and Exchange Commission (SEC) has once again delayed its decision on the application for an Ether ETF. A new deadline is set for May 23<\/a>.<\/p>\n\n\n\n

Despite this, analysts remain cautiously optimistic, estimating a 60% chance<\/a> of eventual approval. These delays and the ongoing review process indicate that the SEC is maintaining a cautious approach towards the approval of Ether ETFs. It reflects the complexities involved in integrating such products into the financial system.<\/p>\n","post_title":"Hong Kong Set to Approve Bitcoin And Ether ETFs By Monday","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"hong-kong-set-to-approve-bitcoin-and-ether-etfs-by-monday","to_ping":"","pinged":"","post_modified":"2024-04-15 03:53:05","post_modified_gmt":"2024-04-14 17:53:05","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16362","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":16347,"post_author":"15","post_date":"2024-04-14 00:03:48","post_date_gmt":"2024-04-13 14:03:48","post_content":"\n

Bitfinex Securities El Salvador is initiating a tokenized debt offering to fund the development of a Hampton by Hilton hotel complex spanning 4,484 square meters at El Salvador International Airport.<\/p>\n\n\n\n

In January, Bitfinex Securities<\/a> became the inaugural regulated entity to obtain a license to operate in El Salvador under the country\u2019s newly enacted Digital Asset Securities Law. This move anticipated a surge in demand for regulated investment vehicles, following the successful introduction of U.S. spot bitcoin exchange-traded funds.<\/p>\n\n\n\n

At the time, the tokenized securities platform announced its acceptance of customer applications and outlined a pipeline of potential financial asset issuances projected to launch in the year's first half.<\/p>\n\n\n\n

The tokenized debt, issued by El Salvadoran firm Inversiones Laguardia S.A. de C.V., is poised to be the inaugural token to trade on the platform. Utilizing the Liquid Network, a Bitcoin sidechain, the token will be denoted as HILSV and traded against U.S. dollars and Tether\u2019s USDT stablecoin.<\/p>\n\n\n\n

See Related: <\/em><\/strong>El Salvador Businesses Barely Impacted By Bitcoins Legality<\/a><\/p>\n\n\n\n

El Salvador Leads The Way<\/h2>\n\n\n\n


El Salvador stands at the forefront of cryptocurrency adoption wherein Bitcoin is recognized as legal tender. Since June 2021, it has been the first country to embrace Bitcoin alongside the US dollar for everyday transactions, making significant strides in the global crypto landscape. <\/p>\n\n\n\n

Under President Nayib Bukele, the government has initiated a groundbreaking project, where the state purchases one Bitcoin daily to bolster its reserves. <\/p>\n","post_title":"Bitfinex Securities Launches Tokenized Debt Offering For A Hotel In El Salvador","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"bitfinex-securities-launches-tokenized-debt-offering-for-a-hotel-in-el-salvador","to_ping":"","pinged":"","post_modified":"2024-04-14 00:03:52","post_modified_gmt":"2024-04-13 14:03:52","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16347","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 … 4 5 6 7 8 … 20

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

Cuban highlighted the intense competition between AI's needs for GPUs and cryptocurrency mining's demands. He questioned whether the economic landscape of mining could be altered by the booming AI industry, asking if it might be more profitable to utilize GPUs for AI model training rather than mining. This issue primarily affects miners using GPUs for cryptocurrencies other than Bitcoin, which typically relies on ASIC machines.<\/p>\n\n\n\n

The intersection of AI and cryptocurrency mining is already seeing practical applications, with companies like Xive and Hive Digital Technologies expanding into AI to bolster their primary mining operations. <\/p>\n\n\n\n

See Related:<\/em><\/strong> Cryptocurrency Statistics And Insights (2022)<\/a><\/p>\n\n\n\n

Bitcoin Halving is Coming<\/h2>\n\n\n\n

Bitcoin halving is a significant event in the cryptocurrency world that occurs approximately every four years, or after 210,000 blocks are mined. During a halving, bitcoin miners' reward for verifying transactions and adding them to the blockchain is reduced by half. This mechanism was designed by Satoshi Nakamoto, the anonymous creator of Bitcoin, to control inflation by limiting the total number of bitcoins that can ever be in circulation to 21 million.<\/p>\n\n\n\n

As of writing, the price of Bitcoin is at $63,760, and 2 blocks remaining until the next Bitcoin halving.<\/p>\n","post_title":"Bitcoin Halving To Slash Miner Earnings, Cuban Eyes AI Shift","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"bitcoin-halving-to-slash-miner-earnings-cuban-eyes-ai-shift","to_ping":"","pinged":"","post_modified":"2024-04-21 10:10:00","post_modified_gmt":"2024-04-21 00:10:00","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16491","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":16460,"post_author":"15","post_date":"2024-04-19 23:38:06","post_date_gmt":"2024-04-19 13:38:06","post_content":"\n

Binance, the leading global cryptocurrency exchange, is set to make a comeback in India after agreeing to pay a $2 million penalty. This development follows a period of stringent regulatory scrutiny where the Indian government blocked nine cryptocurrency websites. They also prompted the removal of related apps from Apple and Google stores due to non-compliance with local laws. <\/p>\n\n\n\n

According to the Economic Times<\/a>, sources close to the matter indicate that Binance is restructuring its operations in South Asia. The cryptocurrency exchange is planning to fully comply with the Financial Intelligence Unit of India, which regulates the local trading of digital assets.<\/p>\n\n\n\n

The move comes as part of Binance's efforts to align with India's financial regulations, including adherence to anti-money laundering and taxation statutes. Before the crackdown, Binance held a commanding presence in the Indian market, with an estimated 90% of crypto holdings among Indian investors, totaling about $4 billion.<\/p>\n\n\n\n

See Related:<\/em><\/strong> Indian Parliament Passes A 30% Crypto Tax Law<\/a><\/p>\n\n\n\n

Nigeria Detains Binance Executives<\/h2>\n\n\n\n

Two months ago, Nigeria detained two executives of the Binance after they flew into the country. The country's Office of the National Security Adviser detained the two, and their passports were seized. <\/p>\n\n\n\n

Nigerian officials have leveled several charges against the cryptocurrency exchange Binance. The allegation includes exploiting the local economy, contributing to the devaluation of the Nigerian naira, and engaging in money laundering activities. They allege that Binance has been involved in manipulating the exchange rates by engaging in speculative actions and fixing rates. Furthermore, the Nigerian government has expressed concerns over $26 billion in transactions carried out on Binance's platform, which they report as being untraceable.<\/p>\n\n\n\n

Binance has denied any wrongdoing, but this is not the first time it has bumped heads with regulators.<\/p>\n","post_title":"Binance Set To Re-enter Indian Market with $2 Million Fine Settlement","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"binance-set-to-re-enter-indian-market-with-2-million-fine-settlement","to_ping":"","pinged":"","post_modified":"2024-04-20 04:11:08","post_modified_gmt":"2024-04-19 18:11:08","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16460","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":16362,"post_author":"15","post_date":"2024-04-15 03:52:59","post_date_gmt":"2024-04-14 17:52:59","post_content":"\n

Hong Kong is on the brink of approving spot exchange-traded funds (ETFs) for bitcoin and ether, potentially by Monday, Bloomberg reports<\/a>. This anticipated approval is poised to influence the cryptocurrency markets in the near term. The ETFs, if launched, will enable investors to trade bitcoin and ether on regulated platforms, enhancing the legitimacy and stability of investing in cryptocurrencies.<\/p>\n\n\n\n

Bloomberg\u2019s sources suggest that if the Hong Kong Exchanges & Clearing can finalize the listing details promptly, trading could commence by the end of April. Harvest Global Investments and Bosera Asset Management, in collaboration with HashKey Capital, are frontrunners in receiving the first approvals for these spot cryptocurrency ETFs. This move could cement Hong Kong's position as a major hub for digital assets in Asia, particularly if it leads to a successful market response similar to the U.S., where the approval of bitcoin ETFs in January triggered a price rally, pushing bitcoin\u2019s value to $73,000.<\/p>\n\n\n\n

However, unlike in the U.S., where ether ETFs have not yet been approved, Hong Kong might take the lead in this area as well. The city's market regulator, the Securities and Futures Commission (SFC), has not commented on the developments. Similarly, inquiries to Harvest Global Investments, Bosera Asset Management, HashKey Capital, and HKEX received no immediate response.<\/p>\n\n\n\n

See Related: <\/em><\/strong>Hong Kong Invests Over $6.4M Into Web 3 Development<\/a><\/p>\n\n\n\n

Ether ETF Update<\/h2>\n\n\n\n

The U.S. Securities and Exchange Commission (SEC) has once again delayed its decision on the application for an Ether ETF. A new deadline is set for May 23<\/a>.<\/p>\n\n\n\n

Despite this, analysts remain cautiously optimistic, estimating a 60% chance<\/a> of eventual approval. These delays and the ongoing review process indicate that the SEC is maintaining a cautious approach towards the approval of Ether ETFs. It reflects the complexities involved in integrating such products into the financial system.<\/p>\n","post_title":"Hong Kong Set to Approve Bitcoin And Ether ETFs By Monday","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"hong-kong-set-to-approve-bitcoin-and-ether-etfs-by-monday","to_ping":"","pinged":"","post_modified":"2024-04-15 03:53:05","post_modified_gmt":"2024-04-14 17:53:05","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16362","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":16347,"post_author":"15","post_date":"2024-04-14 00:03:48","post_date_gmt":"2024-04-13 14:03:48","post_content":"\n

Bitfinex Securities El Salvador is initiating a tokenized debt offering to fund the development of a Hampton by Hilton hotel complex spanning 4,484 square meters at El Salvador International Airport.<\/p>\n\n\n\n

In January, Bitfinex Securities<\/a> became the inaugural regulated entity to obtain a license to operate in El Salvador under the country\u2019s newly enacted Digital Asset Securities Law. This move anticipated a surge in demand for regulated investment vehicles, following the successful introduction of U.S. spot bitcoin exchange-traded funds.<\/p>\n\n\n\n

At the time, the tokenized securities platform announced its acceptance of customer applications and outlined a pipeline of potential financial asset issuances projected to launch in the year's first half.<\/p>\n\n\n\n

The tokenized debt, issued by El Salvadoran firm Inversiones Laguardia S.A. de C.V., is poised to be the inaugural token to trade on the platform. Utilizing the Liquid Network, a Bitcoin sidechain, the token will be denoted as HILSV and traded against U.S. dollars and Tether\u2019s USDT stablecoin.<\/p>\n\n\n\n

See Related: <\/em><\/strong>El Salvador Businesses Barely Impacted By Bitcoins Legality<\/a><\/p>\n\n\n\n

El Salvador Leads The Way<\/h2>\n\n\n\n


El Salvador stands at the forefront of cryptocurrency adoption wherein Bitcoin is recognized as legal tender. Since June 2021, it has been the first country to embrace Bitcoin alongside the US dollar for everyday transactions, making significant strides in the global crypto landscape. <\/p>\n\n\n\n

Under President Nayib Bukele, the government has initiated a groundbreaking project, where the state purchases one Bitcoin daily to bolster its reserves. <\/p>\n","post_title":"Bitfinex Securities Launches Tokenized Debt Offering For A Hotel In El Salvador","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"bitfinex-securities-launches-tokenized-debt-offering-for-a-hotel-in-el-salvador","to_ping":"","pinged":"","post_modified":"2024-04-14 00:03:52","post_modified_gmt":"2024-04-13 14:03:52","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16347","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 … 4 5 6 7 8 … 20

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

During an interview <\/a>with The Block, Cuban pointed out that the halving will reduce mining rewards from 6.25 BTC to 3.125 BTC, effectively slashing the income for bitcoin miners by nearly half. However, Cuban expressed greater curiosity about the role artificial intelligence (AI) might play in the mining sector, especially concerning the demand for GPUs.<\/p>\n\n\n\n

Cuban highlighted the intense competition between AI's needs for GPUs and cryptocurrency mining's demands. He questioned whether the economic landscape of mining could be altered by the booming AI industry, asking if it might be more profitable to utilize GPUs for AI model training rather than mining. This issue primarily affects miners using GPUs for cryptocurrencies other than Bitcoin, which typically relies on ASIC machines.<\/p>\n\n\n\n

The intersection of AI and cryptocurrency mining is already seeing practical applications, with companies like Xive and Hive Digital Technologies expanding into AI to bolster their primary mining operations. <\/p>\n\n\n\n

See Related:<\/em><\/strong> Cryptocurrency Statistics And Insights (2022)<\/a><\/p>\n\n\n\n

Bitcoin Halving is Coming<\/h2>\n\n\n\n

Bitcoin halving is a significant event in the cryptocurrency world that occurs approximately every four years, or after 210,000 blocks are mined. During a halving, bitcoin miners' reward for verifying transactions and adding them to the blockchain is reduced by half. This mechanism was designed by Satoshi Nakamoto, the anonymous creator of Bitcoin, to control inflation by limiting the total number of bitcoins that can ever be in circulation to 21 million.<\/p>\n\n\n\n

As of writing, the price of Bitcoin is at $63,760, and 2 blocks remaining until the next Bitcoin halving.<\/p>\n","post_title":"Bitcoin Halving To Slash Miner Earnings, Cuban Eyes AI Shift","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"bitcoin-halving-to-slash-miner-earnings-cuban-eyes-ai-shift","to_ping":"","pinged":"","post_modified":"2024-04-21 10:10:00","post_modified_gmt":"2024-04-21 00:10:00","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16491","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":16460,"post_author":"15","post_date":"2024-04-19 23:38:06","post_date_gmt":"2024-04-19 13:38:06","post_content":"\n

Binance, the leading global cryptocurrency exchange, is set to make a comeback in India after agreeing to pay a $2 million penalty. This development follows a period of stringent regulatory scrutiny where the Indian government blocked nine cryptocurrency websites. They also prompted the removal of related apps from Apple and Google stores due to non-compliance with local laws. <\/p>\n\n\n\n

According to the Economic Times<\/a>, sources close to the matter indicate that Binance is restructuring its operations in South Asia. The cryptocurrency exchange is planning to fully comply with the Financial Intelligence Unit of India, which regulates the local trading of digital assets.<\/p>\n\n\n\n

The move comes as part of Binance's efforts to align with India's financial regulations, including adherence to anti-money laundering and taxation statutes. Before the crackdown, Binance held a commanding presence in the Indian market, with an estimated 90% of crypto holdings among Indian investors, totaling about $4 billion.<\/p>\n\n\n\n

See Related:<\/em><\/strong> Indian Parliament Passes A 30% Crypto Tax Law<\/a><\/p>\n\n\n\n

Nigeria Detains Binance Executives<\/h2>\n\n\n\n

Two months ago, Nigeria detained two executives of the Binance after they flew into the country. The country's Office of the National Security Adviser detained the two, and their passports were seized. <\/p>\n\n\n\n

Nigerian officials have leveled several charges against the cryptocurrency exchange Binance. The allegation includes exploiting the local economy, contributing to the devaluation of the Nigerian naira, and engaging in money laundering activities. They allege that Binance has been involved in manipulating the exchange rates by engaging in speculative actions and fixing rates. Furthermore, the Nigerian government has expressed concerns over $26 billion in transactions carried out on Binance's platform, which they report as being untraceable.<\/p>\n\n\n\n

Binance has denied any wrongdoing, but this is not the first time it has bumped heads with regulators.<\/p>\n","post_title":"Binance Set To Re-enter Indian Market with $2 Million Fine Settlement","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"binance-set-to-re-enter-indian-market-with-2-million-fine-settlement","to_ping":"","pinged":"","post_modified":"2024-04-20 04:11:08","post_modified_gmt":"2024-04-19 18:11:08","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16460","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":16362,"post_author":"15","post_date":"2024-04-15 03:52:59","post_date_gmt":"2024-04-14 17:52:59","post_content":"\n

Hong Kong is on the brink of approving spot exchange-traded funds (ETFs) for bitcoin and ether, potentially by Monday, Bloomberg reports<\/a>. This anticipated approval is poised to influence the cryptocurrency markets in the near term. The ETFs, if launched, will enable investors to trade bitcoin and ether on regulated platforms, enhancing the legitimacy and stability of investing in cryptocurrencies.<\/p>\n\n\n\n

Bloomberg\u2019s sources suggest that if the Hong Kong Exchanges & Clearing can finalize the listing details promptly, trading could commence by the end of April. Harvest Global Investments and Bosera Asset Management, in collaboration with HashKey Capital, are frontrunners in receiving the first approvals for these spot cryptocurrency ETFs. This move could cement Hong Kong's position as a major hub for digital assets in Asia, particularly if it leads to a successful market response similar to the U.S., where the approval of bitcoin ETFs in January triggered a price rally, pushing bitcoin\u2019s value to $73,000.<\/p>\n\n\n\n

However, unlike in the U.S., where ether ETFs have not yet been approved, Hong Kong might take the lead in this area as well. The city's market regulator, the Securities and Futures Commission (SFC), has not commented on the developments. Similarly, inquiries to Harvest Global Investments, Bosera Asset Management, HashKey Capital, and HKEX received no immediate response.<\/p>\n\n\n\n

See Related: <\/em><\/strong>Hong Kong Invests Over $6.4M Into Web 3 Development<\/a><\/p>\n\n\n\n

Ether ETF Update<\/h2>\n\n\n\n

The U.S. Securities and Exchange Commission (SEC) has once again delayed its decision on the application for an Ether ETF. A new deadline is set for May 23<\/a>.<\/p>\n\n\n\n

Despite this, analysts remain cautiously optimistic, estimating a 60% chance<\/a> of eventual approval. These delays and the ongoing review process indicate that the SEC is maintaining a cautious approach towards the approval of Ether ETFs. It reflects the complexities involved in integrating such products into the financial system.<\/p>\n","post_title":"Hong Kong Set to Approve Bitcoin And Ether ETFs By Monday","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"hong-kong-set-to-approve-bitcoin-and-ether-etfs-by-monday","to_ping":"","pinged":"","post_modified":"2024-04-15 03:53:05","post_modified_gmt":"2024-04-14 17:53:05","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16362","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":16347,"post_author":"15","post_date":"2024-04-14 00:03:48","post_date_gmt":"2024-04-13 14:03:48","post_content":"\n

Bitfinex Securities El Salvador is initiating a tokenized debt offering to fund the development of a Hampton by Hilton hotel complex spanning 4,484 square meters at El Salvador International Airport.<\/p>\n\n\n\n

In January, Bitfinex Securities<\/a> became the inaugural regulated entity to obtain a license to operate in El Salvador under the country\u2019s newly enacted Digital Asset Securities Law. This move anticipated a surge in demand for regulated investment vehicles, following the successful introduction of U.S. spot bitcoin exchange-traded funds.<\/p>\n\n\n\n

At the time, the tokenized securities platform announced its acceptance of customer applications and outlined a pipeline of potential financial asset issuances projected to launch in the year's first half.<\/p>\n\n\n\n

The tokenized debt, issued by El Salvadoran firm Inversiones Laguardia S.A. de C.V., is poised to be the inaugural token to trade on the platform. Utilizing the Liquid Network, a Bitcoin sidechain, the token will be denoted as HILSV and traded against U.S. dollars and Tether\u2019s USDT stablecoin.<\/p>\n\n\n\n

See Related: <\/em><\/strong>El Salvador Businesses Barely Impacted By Bitcoins Legality<\/a><\/p>\n\n\n\n

El Salvador Leads The Way<\/h2>\n\n\n\n


El Salvador stands at the forefront of cryptocurrency adoption wherein Bitcoin is recognized as legal tender. Since June 2021, it has been the first country to embrace Bitcoin alongside the US dollar for everyday transactions, making significant strides in the global crypto landscape. <\/p>\n\n\n\n

Under President Nayib Bukele, the government has initiated a groundbreaking project, where the state purchases one Bitcoin daily to bolster its reserves. <\/p>\n","post_title":"Bitfinex Securities Launches Tokenized Debt Offering For A Hotel In El Salvador","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"bitfinex-securities-launches-tokenized-debt-offering-for-a-hotel-in-el-salvador","to_ping":"","pinged":"","post_modified":"2024-04-14 00:03:52","post_modified_gmt":"2024-04-13 14:03:52","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16347","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 … 4 5 6 7 8 … 20

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

Entrepreneur and Dallas Mavericks owner Mark Cuban recently discussed the implications of the upcoming Bitcoin halving. He emphasized its significant impact on miner revenues.<\/p>\n\n\n\n

During an interview <\/a>with The Block, Cuban pointed out that the halving will reduce mining rewards from 6.25 BTC to 3.125 BTC, effectively slashing the income for bitcoin miners by nearly half. However, Cuban expressed greater curiosity about the role artificial intelligence (AI) might play in the mining sector, especially concerning the demand for GPUs.<\/p>\n\n\n\n

Cuban highlighted the intense competition between AI's needs for GPUs and cryptocurrency mining's demands. He questioned whether the economic landscape of mining could be altered by the booming AI industry, asking if it might be more profitable to utilize GPUs for AI model training rather than mining. This issue primarily affects miners using GPUs for cryptocurrencies other than Bitcoin, which typically relies on ASIC machines.<\/p>\n\n\n\n

The intersection of AI and cryptocurrency mining is already seeing practical applications, with companies like Xive and Hive Digital Technologies expanding into AI to bolster their primary mining operations. <\/p>\n\n\n\n

See Related:<\/em><\/strong> Cryptocurrency Statistics And Insights (2022)<\/a><\/p>\n\n\n\n

Bitcoin Halving is Coming<\/h2>\n\n\n\n

Bitcoin halving is a significant event in the cryptocurrency world that occurs approximately every four years, or after 210,000 blocks are mined. During a halving, bitcoin miners' reward for verifying transactions and adding them to the blockchain is reduced by half. This mechanism was designed by Satoshi Nakamoto, the anonymous creator of Bitcoin, to control inflation by limiting the total number of bitcoins that can ever be in circulation to 21 million.<\/p>\n\n\n\n

As of writing, the price of Bitcoin is at $63,760, and 2 blocks remaining until the next Bitcoin halving.<\/p>\n","post_title":"Bitcoin Halving To Slash Miner Earnings, Cuban Eyes AI Shift","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"bitcoin-halving-to-slash-miner-earnings-cuban-eyes-ai-shift","to_ping":"","pinged":"","post_modified":"2024-04-21 10:10:00","post_modified_gmt":"2024-04-21 00:10:00","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16491","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":16460,"post_author":"15","post_date":"2024-04-19 23:38:06","post_date_gmt":"2024-04-19 13:38:06","post_content":"\n

Binance, the leading global cryptocurrency exchange, is set to make a comeback in India after agreeing to pay a $2 million penalty. This development follows a period of stringent regulatory scrutiny where the Indian government blocked nine cryptocurrency websites. They also prompted the removal of related apps from Apple and Google stores due to non-compliance with local laws. <\/p>\n\n\n\n

According to the Economic Times<\/a>, sources close to the matter indicate that Binance is restructuring its operations in South Asia. The cryptocurrency exchange is planning to fully comply with the Financial Intelligence Unit of India, which regulates the local trading of digital assets.<\/p>\n\n\n\n

The move comes as part of Binance's efforts to align with India's financial regulations, including adherence to anti-money laundering and taxation statutes. Before the crackdown, Binance held a commanding presence in the Indian market, with an estimated 90% of crypto holdings among Indian investors, totaling about $4 billion.<\/p>\n\n\n\n

See Related:<\/em><\/strong> Indian Parliament Passes A 30% Crypto Tax Law<\/a><\/p>\n\n\n\n

Nigeria Detains Binance Executives<\/h2>\n\n\n\n

Two months ago, Nigeria detained two executives of the Binance after they flew into the country. The country's Office of the National Security Adviser detained the two, and their passports were seized. <\/p>\n\n\n\n

Nigerian officials have leveled several charges against the cryptocurrency exchange Binance. The allegation includes exploiting the local economy, contributing to the devaluation of the Nigerian naira, and engaging in money laundering activities. They allege that Binance has been involved in manipulating the exchange rates by engaging in speculative actions and fixing rates. Furthermore, the Nigerian government has expressed concerns over $26 billion in transactions carried out on Binance's platform, which they report as being untraceable.<\/p>\n\n\n\n

Binance has denied any wrongdoing, but this is not the first time it has bumped heads with regulators.<\/p>\n","post_title":"Binance Set To Re-enter Indian Market with $2 Million Fine Settlement","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"binance-set-to-re-enter-indian-market-with-2-million-fine-settlement","to_ping":"","pinged":"","post_modified":"2024-04-20 04:11:08","post_modified_gmt":"2024-04-19 18:11:08","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16460","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":16362,"post_author":"15","post_date":"2024-04-15 03:52:59","post_date_gmt":"2024-04-14 17:52:59","post_content":"\n

Hong Kong is on the brink of approving spot exchange-traded funds (ETFs) for bitcoin and ether, potentially by Monday, Bloomberg reports<\/a>. This anticipated approval is poised to influence the cryptocurrency markets in the near term. The ETFs, if launched, will enable investors to trade bitcoin and ether on regulated platforms, enhancing the legitimacy and stability of investing in cryptocurrencies.<\/p>\n\n\n\n

Bloomberg\u2019s sources suggest that if the Hong Kong Exchanges & Clearing can finalize the listing details promptly, trading could commence by the end of April. Harvest Global Investments and Bosera Asset Management, in collaboration with HashKey Capital, are frontrunners in receiving the first approvals for these spot cryptocurrency ETFs. This move could cement Hong Kong's position as a major hub for digital assets in Asia, particularly if it leads to a successful market response similar to the U.S., where the approval of bitcoin ETFs in January triggered a price rally, pushing bitcoin\u2019s value to $73,000.<\/p>\n\n\n\n

However, unlike in the U.S., where ether ETFs have not yet been approved, Hong Kong might take the lead in this area as well. The city's market regulator, the Securities and Futures Commission (SFC), has not commented on the developments. Similarly, inquiries to Harvest Global Investments, Bosera Asset Management, HashKey Capital, and HKEX received no immediate response.<\/p>\n\n\n\n

See Related: <\/em><\/strong>Hong Kong Invests Over $6.4M Into Web 3 Development<\/a><\/p>\n\n\n\n

Ether ETF Update<\/h2>\n\n\n\n

The U.S. Securities and Exchange Commission (SEC) has once again delayed its decision on the application for an Ether ETF. A new deadline is set for May 23<\/a>.<\/p>\n\n\n\n

Despite this, analysts remain cautiously optimistic, estimating a 60% chance<\/a> of eventual approval. These delays and the ongoing review process indicate that the SEC is maintaining a cautious approach towards the approval of Ether ETFs. It reflects the complexities involved in integrating such products into the financial system.<\/p>\n","post_title":"Hong Kong Set to Approve Bitcoin And Ether ETFs By Monday","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"hong-kong-set-to-approve-bitcoin-and-ether-etfs-by-monday","to_ping":"","pinged":"","post_modified":"2024-04-15 03:53:05","post_modified_gmt":"2024-04-14 17:53:05","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16362","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":16347,"post_author":"15","post_date":"2024-04-14 00:03:48","post_date_gmt":"2024-04-13 14:03:48","post_content":"\n

Bitfinex Securities El Salvador is initiating a tokenized debt offering to fund the development of a Hampton by Hilton hotel complex spanning 4,484 square meters at El Salvador International Airport.<\/p>\n\n\n\n

In January, Bitfinex Securities<\/a> became the inaugural regulated entity to obtain a license to operate in El Salvador under the country\u2019s newly enacted Digital Asset Securities Law. This move anticipated a surge in demand for regulated investment vehicles, following the successful introduction of U.S. spot bitcoin exchange-traded funds.<\/p>\n\n\n\n

At the time, the tokenized securities platform announced its acceptance of customer applications and outlined a pipeline of potential financial asset issuances projected to launch in the year's first half.<\/p>\n\n\n\n

The tokenized debt, issued by El Salvadoran firm Inversiones Laguardia S.A. de C.V., is poised to be the inaugural token to trade on the platform. Utilizing the Liquid Network, a Bitcoin sidechain, the token will be denoted as HILSV and traded against U.S. dollars and Tether\u2019s USDT stablecoin.<\/p>\n\n\n\n

See Related: <\/em><\/strong>El Salvador Businesses Barely Impacted By Bitcoins Legality<\/a><\/p>\n\n\n\n

El Salvador Leads The Way<\/h2>\n\n\n\n


El Salvador stands at the forefront of cryptocurrency adoption wherein Bitcoin is recognized as legal tender. Since June 2021, it has been the first country to embrace Bitcoin alongside the US dollar for everyday transactions, making significant strides in the global crypto landscape. <\/p>\n\n\n\n

Under President Nayib Bukele, the government has initiated a groundbreaking project, where the state purchases one Bitcoin daily to bolster its reserves. <\/p>\n","post_title":"Bitfinex Securities Launches Tokenized Debt Offering For A Hotel In El Salvador","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"bitfinex-securities-launches-tokenized-debt-offering-for-a-hotel-in-el-salvador","to_ping":"","pinged":"","post_modified":"2024-04-14 00:03:52","post_modified_gmt":"2024-04-13 14:03:52","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16347","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 … 4 5 6 7 8 … 20

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

Sophisticated criminals, particularly North Korea's Lazarus Group, adapted to law enforcement tactics by employing new mixers and utilizing cross-chain bridges to launder funds. These methods allow them to obfuscate the origins of illicit funds more effectively across multiple blockchain platforms, demonstrating a dynamic shift in the techniques used by high-level criminal enterprises to evade detection.<\/p>\n","post_title":"AI Powers New Tool To Detect Illegal Bitcoin Transactions, Study Shows","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"ai-powers-new-tool-to-detect-illegal-bitcoin-transactions-study-shows","to_ping":"","pinged":"","post_modified":"2024-05-04 02:07:20","post_modified_gmt":"2024-05-03 16:07:20","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16722","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":16491,"post_author":"15","post_date":"2024-04-21 10:09:53","post_date_gmt":"2024-04-21 00:09:53","post_content":"\n

Entrepreneur and Dallas Mavericks owner Mark Cuban recently discussed the implications of the upcoming Bitcoin halving. He emphasized its significant impact on miner revenues.<\/p>\n\n\n\n

During an interview <\/a>with The Block, Cuban pointed out that the halving will reduce mining rewards from 6.25 BTC to 3.125 BTC, effectively slashing the income for bitcoin miners by nearly half. However, Cuban expressed greater curiosity about the role artificial intelligence (AI) might play in the mining sector, especially concerning the demand for GPUs.<\/p>\n\n\n\n

Cuban highlighted the intense competition between AI's needs for GPUs and cryptocurrency mining's demands. He questioned whether the economic landscape of mining could be altered by the booming AI industry, asking if it might be more profitable to utilize GPUs for AI model training rather than mining. This issue primarily affects miners using GPUs for cryptocurrencies other than Bitcoin, which typically relies on ASIC machines.<\/p>\n\n\n\n

The intersection of AI and cryptocurrency mining is already seeing practical applications, with companies like Xive and Hive Digital Technologies expanding into AI to bolster their primary mining operations. <\/p>\n\n\n\n

See Related:<\/em><\/strong> Cryptocurrency Statistics And Insights (2022)<\/a><\/p>\n\n\n\n

Bitcoin Halving is Coming<\/h2>\n\n\n\n

Bitcoin halving is a significant event in the cryptocurrency world that occurs approximately every four years, or after 210,000 blocks are mined. During a halving, bitcoin miners' reward for verifying transactions and adding them to the blockchain is reduced by half. This mechanism was designed by Satoshi Nakamoto, the anonymous creator of Bitcoin, to control inflation by limiting the total number of bitcoins that can ever be in circulation to 21 million.<\/p>\n\n\n\n

As of writing, the price of Bitcoin is at $63,760, and 2 blocks remaining until the next Bitcoin halving.<\/p>\n","post_title":"Bitcoin Halving To Slash Miner Earnings, Cuban Eyes AI Shift","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"bitcoin-halving-to-slash-miner-earnings-cuban-eyes-ai-shift","to_ping":"","pinged":"","post_modified":"2024-04-21 10:10:00","post_modified_gmt":"2024-04-21 00:10:00","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16491","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":16460,"post_author":"15","post_date":"2024-04-19 23:38:06","post_date_gmt":"2024-04-19 13:38:06","post_content":"\n

Binance, the leading global cryptocurrency exchange, is set to make a comeback in India after agreeing to pay a $2 million penalty. This development follows a period of stringent regulatory scrutiny where the Indian government blocked nine cryptocurrency websites. They also prompted the removal of related apps from Apple and Google stores due to non-compliance with local laws. <\/p>\n\n\n\n

According to the Economic Times<\/a>, sources close to the matter indicate that Binance is restructuring its operations in South Asia. The cryptocurrency exchange is planning to fully comply with the Financial Intelligence Unit of India, which regulates the local trading of digital assets.<\/p>\n\n\n\n

The move comes as part of Binance's efforts to align with India's financial regulations, including adherence to anti-money laundering and taxation statutes. Before the crackdown, Binance held a commanding presence in the Indian market, with an estimated 90% of crypto holdings among Indian investors, totaling about $4 billion.<\/p>\n\n\n\n

See Related:<\/em><\/strong> Indian Parliament Passes A 30% Crypto Tax Law<\/a><\/p>\n\n\n\n

Nigeria Detains Binance Executives<\/h2>\n\n\n\n

Two months ago, Nigeria detained two executives of the Binance after they flew into the country. The country's Office of the National Security Adviser detained the two, and their passports were seized. <\/p>\n\n\n\n

Nigerian officials have leveled several charges against the cryptocurrency exchange Binance. The allegation includes exploiting the local economy, contributing to the devaluation of the Nigerian naira, and engaging in money laundering activities. They allege that Binance has been involved in manipulating the exchange rates by engaging in speculative actions and fixing rates. Furthermore, the Nigerian government has expressed concerns over $26 billion in transactions carried out on Binance's platform, which they report as being untraceable.<\/p>\n\n\n\n

Binance has denied any wrongdoing, but this is not the first time it has bumped heads with regulators.<\/p>\n","post_title":"Binance Set To Re-enter Indian Market with $2 Million Fine Settlement","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"binance-set-to-re-enter-indian-market-with-2-million-fine-settlement","to_ping":"","pinged":"","post_modified":"2024-04-20 04:11:08","post_modified_gmt":"2024-04-19 18:11:08","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16460","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":16362,"post_author":"15","post_date":"2024-04-15 03:52:59","post_date_gmt":"2024-04-14 17:52:59","post_content":"\n

Hong Kong is on the brink of approving spot exchange-traded funds (ETFs) for bitcoin and ether, potentially by Monday, Bloomberg reports<\/a>. This anticipated approval is poised to influence the cryptocurrency markets in the near term. The ETFs, if launched, will enable investors to trade bitcoin and ether on regulated platforms, enhancing the legitimacy and stability of investing in cryptocurrencies.<\/p>\n\n\n\n

Bloomberg\u2019s sources suggest that if the Hong Kong Exchanges & Clearing can finalize the listing details promptly, trading could commence by the end of April. Harvest Global Investments and Bosera Asset Management, in collaboration with HashKey Capital, are frontrunners in receiving the first approvals for these spot cryptocurrency ETFs. This move could cement Hong Kong's position as a major hub for digital assets in Asia, particularly if it leads to a successful market response similar to the U.S., where the approval of bitcoin ETFs in January triggered a price rally, pushing bitcoin\u2019s value to $73,000.<\/p>\n\n\n\n

However, unlike in the U.S., where ether ETFs have not yet been approved, Hong Kong might take the lead in this area as well. The city's market regulator, the Securities and Futures Commission (SFC), has not commented on the developments. Similarly, inquiries to Harvest Global Investments, Bosera Asset Management, HashKey Capital, and HKEX received no immediate response.<\/p>\n\n\n\n

See Related: <\/em><\/strong>Hong Kong Invests Over $6.4M Into Web 3 Development<\/a><\/p>\n\n\n\n

Ether ETF Update<\/h2>\n\n\n\n

The U.S. Securities and Exchange Commission (SEC) has once again delayed its decision on the application for an Ether ETF. A new deadline is set for May 23<\/a>.<\/p>\n\n\n\n

Despite this, analysts remain cautiously optimistic, estimating a 60% chance<\/a> of eventual approval. These delays and the ongoing review process indicate that the SEC is maintaining a cautious approach towards the approval of Ether ETFs. It reflects the complexities involved in integrating such products into the financial system.<\/p>\n","post_title":"Hong Kong Set to Approve Bitcoin And Ether ETFs By Monday","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"hong-kong-set-to-approve-bitcoin-and-ether-etfs-by-monday","to_ping":"","pinged":"","post_modified":"2024-04-15 03:53:05","post_modified_gmt":"2024-04-14 17:53:05","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16362","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":16347,"post_author":"15","post_date":"2024-04-14 00:03:48","post_date_gmt":"2024-04-13 14:03:48","post_content":"\n

Bitfinex Securities El Salvador is initiating a tokenized debt offering to fund the development of a Hampton by Hilton hotel complex spanning 4,484 square meters at El Salvador International Airport.<\/p>\n\n\n\n

In January, Bitfinex Securities<\/a> became the inaugural regulated entity to obtain a license to operate in El Salvador under the country\u2019s newly enacted Digital Asset Securities Law. This move anticipated a surge in demand for regulated investment vehicles, following the successful introduction of U.S. spot bitcoin exchange-traded funds.<\/p>\n\n\n\n

At the time, the tokenized securities platform announced its acceptance of customer applications and outlined a pipeline of potential financial asset issuances projected to launch in the year's first half.<\/p>\n\n\n\n

The tokenized debt, issued by El Salvadoran firm Inversiones Laguardia S.A. de C.V., is poised to be the inaugural token to trade on the platform. Utilizing the Liquid Network, a Bitcoin sidechain, the token will be denoted as HILSV and traded against U.S. dollars and Tether\u2019s USDT stablecoin.<\/p>\n\n\n\n

See Related: <\/em><\/strong>El Salvador Businesses Barely Impacted By Bitcoins Legality<\/a><\/p>\n\n\n\n

El Salvador Leads The Way<\/h2>\n\n\n\n


El Salvador stands at the forefront of cryptocurrency adoption wherein Bitcoin is recognized as legal tender. Since June 2021, it has been the first country to embrace Bitcoin alongside the US dollar for everyday transactions, making significant strides in the global crypto landscape. <\/p>\n\n\n\n

Under President Nayib Bukele, the government has initiated a groundbreaking project, where the state purchases one Bitcoin daily to bolster its reserves. <\/p>\n","post_title":"Bitfinex Securities Launches Tokenized Debt Offering For A Hotel In El Salvador","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"bitfinex-securities-launches-tokenized-debt-offering-for-a-hotel-in-el-salvador","to_ping":"","pinged":"","post_modified":"2024-04-14 00:03:52","post_modified_gmt":"2024-04-13 14:03:52","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16347","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 … 4 5 6 7 8 … 20

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

In 2023, the volume of cryptocurrency involved in money laundering activities decreased significantly, with centralized exchanges continuing as the primary channels for such transactions. DeFi protocols and gambling services saw an uptick in use for laundering, yet they generally lack the anonymity preferred by launderers.<\/p>\n\n\n\n

Sophisticated criminals, particularly North Korea's Lazarus Group, adapted to law enforcement tactics by employing new mixers and utilizing cross-chain bridges to launder funds. These methods allow them to obfuscate the origins of illicit funds more effectively across multiple blockchain platforms, demonstrating a dynamic shift in the techniques used by high-level criminal enterprises to evade detection.<\/p>\n","post_title":"AI Powers New Tool To Detect Illegal Bitcoin Transactions, Study Shows","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"ai-powers-new-tool-to-detect-illegal-bitcoin-transactions-study-shows","to_ping":"","pinged":"","post_modified":"2024-05-04 02:07:20","post_modified_gmt":"2024-05-03 16:07:20","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16722","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":16491,"post_author":"15","post_date":"2024-04-21 10:09:53","post_date_gmt":"2024-04-21 00:09:53","post_content":"\n

Entrepreneur and Dallas Mavericks owner Mark Cuban recently discussed the implications of the upcoming Bitcoin halving. He emphasized its significant impact on miner revenues.<\/p>\n\n\n\n

During an interview <\/a>with The Block, Cuban pointed out that the halving will reduce mining rewards from 6.25 BTC to 3.125 BTC, effectively slashing the income for bitcoin miners by nearly half. However, Cuban expressed greater curiosity about the role artificial intelligence (AI) might play in the mining sector, especially concerning the demand for GPUs.<\/p>\n\n\n\n

Cuban highlighted the intense competition between AI's needs for GPUs and cryptocurrency mining's demands. He questioned whether the economic landscape of mining could be altered by the booming AI industry, asking if it might be more profitable to utilize GPUs for AI model training rather than mining. This issue primarily affects miners using GPUs for cryptocurrencies other than Bitcoin, which typically relies on ASIC machines.<\/p>\n\n\n\n

The intersection of AI and cryptocurrency mining is already seeing practical applications, with companies like Xive and Hive Digital Technologies expanding into AI to bolster their primary mining operations. <\/p>\n\n\n\n

See Related:<\/em><\/strong> Cryptocurrency Statistics And Insights (2022)<\/a><\/p>\n\n\n\n

Bitcoin Halving is Coming<\/h2>\n\n\n\n

Bitcoin halving is a significant event in the cryptocurrency world that occurs approximately every four years, or after 210,000 blocks are mined. During a halving, bitcoin miners' reward for verifying transactions and adding them to the blockchain is reduced by half. This mechanism was designed by Satoshi Nakamoto, the anonymous creator of Bitcoin, to control inflation by limiting the total number of bitcoins that can ever be in circulation to 21 million.<\/p>\n\n\n\n

As of writing, the price of Bitcoin is at $63,760, and 2 blocks remaining until the next Bitcoin halving.<\/p>\n","post_title":"Bitcoin Halving To Slash Miner Earnings, Cuban Eyes AI Shift","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"bitcoin-halving-to-slash-miner-earnings-cuban-eyes-ai-shift","to_ping":"","pinged":"","post_modified":"2024-04-21 10:10:00","post_modified_gmt":"2024-04-21 00:10:00","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16491","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":16460,"post_author":"15","post_date":"2024-04-19 23:38:06","post_date_gmt":"2024-04-19 13:38:06","post_content":"\n

Binance, the leading global cryptocurrency exchange, is set to make a comeback in India after agreeing to pay a $2 million penalty. This development follows a period of stringent regulatory scrutiny where the Indian government blocked nine cryptocurrency websites. They also prompted the removal of related apps from Apple and Google stores due to non-compliance with local laws. <\/p>\n\n\n\n

According to the Economic Times<\/a>, sources close to the matter indicate that Binance is restructuring its operations in South Asia. The cryptocurrency exchange is planning to fully comply with the Financial Intelligence Unit of India, which regulates the local trading of digital assets.<\/p>\n\n\n\n

The move comes as part of Binance's efforts to align with India's financial regulations, including adherence to anti-money laundering and taxation statutes. Before the crackdown, Binance held a commanding presence in the Indian market, with an estimated 90% of crypto holdings among Indian investors, totaling about $4 billion.<\/p>\n\n\n\n

See Related:<\/em><\/strong> Indian Parliament Passes A 30% Crypto Tax Law<\/a><\/p>\n\n\n\n

Nigeria Detains Binance Executives<\/h2>\n\n\n\n

Two months ago, Nigeria detained two executives of the Binance after they flew into the country. The country's Office of the National Security Adviser detained the two, and their passports were seized. <\/p>\n\n\n\n

Nigerian officials have leveled several charges against the cryptocurrency exchange Binance. The allegation includes exploiting the local economy, contributing to the devaluation of the Nigerian naira, and engaging in money laundering activities. They allege that Binance has been involved in manipulating the exchange rates by engaging in speculative actions and fixing rates. Furthermore, the Nigerian government has expressed concerns over $26 billion in transactions carried out on Binance's platform, which they report as being untraceable.<\/p>\n\n\n\n

Binance has denied any wrongdoing, but this is not the first time it has bumped heads with regulators.<\/p>\n","post_title":"Binance Set To Re-enter Indian Market with $2 Million Fine Settlement","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"binance-set-to-re-enter-indian-market-with-2-million-fine-settlement","to_ping":"","pinged":"","post_modified":"2024-04-20 04:11:08","post_modified_gmt":"2024-04-19 18:11:08","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16460","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":16362,"post_author":"15","post_date":"2024-04-15 03:52:59","post_date_gmt":"2024-04-14 17:52:59","post_content":"\n

Hong Kong is on the brink of approving spot exchange-traded funds (ETFs) for bitcoin and ether, potentially by Monday, Bloomberg reports<\/a>. This anticipated approval is poised to influence the cryptocurrency markets in the near term. The ETFs, if launched, will enable investors to trade bitcoin and ether on regulated platforms, enhancing the legitimacy and stability of investing in cryptocurrencies.<\/p>\n\n\n\n

Bloomberg\u2019s sources suggest that if the Hong Kong Exchanges & Clearing can finalize the listing details promptly, trading could commence by the end of April. Harvest Global Investments and Bosera Asset Management, in collaboration with HashKey Capital, are frontrunners in receiving the first approvals for these spot cryptocurrency ETFs. This move could cement Hong Kong's position as a major hub for digital assets in Asia, particularly if it leads to a successful market response similar to the U.S., where the approval of bitcoin ETFs in January triggered a price rally, pushing bitcoin\u2019s value to $73,000.<\/p>\n\n\n\n

However, unlike in the U.S., where ether ETFs have not yet been approved, Hong Kong might take the lead in this area as well. The city's market regulator, the Securities and Futures Commission (SFC), has not commented on the developments. Similarly, inquiries to Harvest Global Investments, Bosera Asset Management, HashKey Capital, and HKEX received no immediate response.<\/p>\n\n\n\n

See Related: <\/em><\/strong>Hong Kong Invests Over $6.4M Into Web 3 Development<\/a><\/p>\n\n\n\n

Ether ETF Update<\/h2>\n\n\n\n

The U.S. Securities and Exchange Commission (SEC) has once again delayed its decision on the application for an Ether ETF. A new deadline is set for May 23<\/a>.<\/p>\n\n\n\n

Despite this, analysts remain cautiously optimistic, estimating a 60% chance<\/a> of eventual approval. These delays and the ongoing review process indicate that the SEC is maintaining a cautious approach towards the approval of Ether ETFs. It reflects the complexities involved in integrating such products into the financial system.<\/p>\n","post_title":"Hong Kong Set to Approve Bitcoin And Ether ETFs By Monday","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"hong-kong-set-to-approve-bitcoin-and-ether-etfs-by-monday","to_ping":"","pinged":"","post_modified":"2024-04-15 03:53:05","post_modified_gmt":"2024-04-14 17:53:05","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16362","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":16347,"post_author":"15","post_date":"2024-04-14 00:03:48","post_date_gmt":"2024-04-13 14:03:48","post_content":"\n

Bitfinex Securities El Salvador is initiating a tokenized debt offering to fund the development of a Hampton by Hilton hotel complex spanning 4,484 square meters at El Salvador International Airport.<\/p>\n\n\n\n

In January, Bitfinex Securities<\/a> became the inaugural regulated entity to obtain a license to operate in El Salvador under the country\u2019s newly enacted Digital Asset Securities Law. This move anticipated a surge in demand for regulated investment vehicles, following the successful introduction of U.S. spot bitcoin exchange-traded funds.<\/p>\n\n\n\n

At the time, the tokenized securities platform announced its acceptance of customer applications and outlined a pipeline of potential financial asset issuances projected to launch in the year's first half.<\/p>\n\n\n\n

The tokenized debt, issued by El Salvadoran firm Inversiones Laguardia S.A. de C.V., is poised to be the inaugural token to trade on the platform. Utilizing the Liquid Network, a Bitcoin sidechain, the token will be denoted as HILSV and traded against U.S. dollars and Tether\u2019s USDT stablecoin.<\/p>\n\n\n\n

See Related: <\/em><\/strong>El Salvador Businesses Barely Impacted By Bitcoins Legality<\/a><\/p>\n\n\n\n

El Salvador Leads The Way<\/h2>\n\n\n\n


El Salvador stands at the forefront of cryptocurrency adoption wherein Bitcoin is recognized as legal tender. Since June 2021, it has been the first country to embrace Bitcoin alongside the US dollar for everyday transactions, making significant strides in the global crypto landscape. <\/p>\n\n\n\n

Under President Nayib Bukele, the government has initiated a groundbreaking project, where the state purchases one Bitcoin daily to bolster its reserves. <\/p>\n","post_title":"Bitfinex Securities Launches Tokenized Debt Offering For A Hotel In El Salvador","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"bitfinex-securities-launches-tokenized-debt-offering-for-a-hotel-in-el-salvador","to_ping":"","pinged":"","post_modified":"2024-04-14 00:03:52","post_modified_gmt":"2024-04-13 14:03:52","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16347","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 … 4 5 6 7 8 … 20

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

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ADVERTISEMENT
\n

Money Laundering in 2024 Reports<\/h2>\n\n\n\n

In 2023, the volume of cryptocurrency involved in money laundering activities decreased significantly, with centralized exchanges continuing as the primary channels for such transactions. DeFi protocols and gambling services saw an uptick in use for laundering, yet they generally lack the anonymity preferred by launderers.<\/p>\n\n\n\n

Sophisticated criminals, particularly North Korea's Lazarus Group, adapted to law enforcement tactics by employing new mixers and utilizing cross-chain bridges to launder funds. These methods allow them to obfuscate the origins of illicit funds more effectively across multiple blockchain platforms, demonstrating a dynamic shift in the techniques used by high-level criminal enterprises to evade detection.<\/p>\n","post_title":"AI Powers New Tool To Detect Illegal Bitcoin Transactions, Study Shows","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"ai-powers-new-tool-to-detect-illegal-bitcoin-transactions-study-shows","to_ping":"","pinged":"","post_modified":"2024-05-04 02:07:20","post_modified_gmt":"2024-05-03 16:07:20","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16722","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":16491,"post_author":"15","post_date":"2024-04-21 10:09:53","post_date_gmt":"2024-04-21 00:09:53","post_content":"\n

Entrepreneur and Dallas Mavericks owner Mark Cuban recently discussed the implications of the upcoming Bitcoin halving. He emphasized its significant impact on miner revenues.<\/p>\n\n\n\n

During an interview <\/a>with The Block, Cuban pointed out that the halving will reduce mining rewards from 6.25 BTC to 3.125 BTC, effectively slashing the income for bitcoin miners by nearly half. However, Cuban expressed greater curiosity about the role artificial intelligence (AI) might play in the mining sector, especially concerning the demand for GPUs.<\/p>\n\n\n\n

Cuban highlighted the intense competition between AI's needs for GPUs and cryptocurrency mining's demands. He questioned whether the economic landscape of mining could be altered by the booming AI industry, asking if it might be more profitable to utilize GPUs for AI model training rather than mining. This issue primarily affects miners using GPUs for cryptocurrencies other than Bitcoin, which typically relies on ASIC machines.<\/p>\n\n\n\n

The intersection of AI and cryptocurrency mining is already seeing practical applications, with companies like Xive and Hive Digital Technologies expanding into AI to bolster their primary mining operations. <\/p>\n\n\n\n

See Related:<\/em><\/strong> Cryptocurrency Statistics And Insights (2022)<\/a><\/p>\n\n\n\n

Bitcoin Halving is Coming<\/h2>\n\n\n\n

Bitcoin halving is a significant event in the cryptocurrency world that occurs approximately every four years, or after 210,000 blocks are mined. During a halving, bitcoin miners' reward for verifying transactions and adding them to the blockchain is reduced by half. This mechanism was designed by Satoshi Nakamoto, the anonymous creator of Bitcoin, to control inflation by limiting the total number of bitcoins that can ever be in circulation to 21 million.<\/p>\n\n\n\n

As of writing, the price of Bitcoin is at $63,760, and 2 blocks remaining until the next Bitcoin halving.<\/p>\n","post_title":"Bitcoin Halving To Slash Miner Earnings, Cuban Eyes AI Shift","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"bitcoin-halving-to-slash-miner-earnings-cuban-eyes-ai-shift","to_ping":"","pinged":"","post_modified":"2024-04-21 10:10:00","post_modified_gmt":"2024-04-21 00:10:00","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16491","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":16460,"post_author":"15","post_date":"2024-04-19 23:38:06","post_date_gmt":"2024-04-19 13:38:06","post_content":"\n

Binance, the leading global cryptocurrency exchange, is set to make a comeback in India after agreeing to pay a $2 million penalty. This development follows a period of stringent regulatory scrutiny where the Indian government blocked nine cryptocurrency websites. They also prompted the removal of related apps from Apple and Google stores due to non-compliance with local laws. <\/p>\n\n\n\n

According to the Economic Times<\/a>, sources close to the matter indicate that Binance is restructuring its operations in South Asia. The cryptocurrency exchange is planning to fully comply with the Financial Intelligence Unit of India, which regulates the local trading of digital assets.<\/p>\n\n\n\n

The move comes as part of Binance's efforts to align with India's financial regulations, including adherence to anti-money laundering and taxation statutes. Before the crackdown, Binance held a commanding presence in the Indian market, with an estimated 90% of crypto holdings among Indian investors, totaling about $4 billion.<\/p>\n\n\n\n

See Related:<\/em><\/strong> Indian Parliament Passes A 30% Crypto Tax Law<\/a><\/p>\n\n\n\n

Nigeria Detains Binance Executives<\/h2>\n\n\n\n

Two months ago, Nigeria detained two executives of the Binance after they flew into the country. The country's Office of the National Security Adviser detained the two, and their passports were seized. <\/p>\n\n\n\n

Nigerian officials have leveled several charges against the cryptocurrency exchange Binance. The allegation includes exploiting the local economy, contributing to the devaluation of the Nigerian naira, and engaging in money laundering activities. They allege that Binance has been involved in manipulating the exchange rates by engaging in speculative actions and fixing rates. Furthermore, the Nigerian government has expressed concerns over $26 billion in transactions carried out on Binance's platform, which they report as being untraceable.<\/p>\n\n\n\n

Binance has denied any wrongdoing, but this is not the first time it has bumped heads with regulators.<\/p>\n","post_title":"Binance Set To Re-enter Indian Market with $2 Million Fine Settlement","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"binance-set-to-re-enter-indian-market-with-2-million-fine-settlement","to_ping":"","pinged":"","post_modified":"2024-04-20 04:11:08","post_modified_gmt":"2024-04-19 18:11:08","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16460","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":16362,"post_author":"15","post_date":"2024-04-15 03:52:59","post_date_gmt":"2024-04-14 17:52:59","post_content":"\n

Hong Kong is on the brink of approving spot exchange-traded funds (ETFs) for bitcoin and ether, potentially by Monday, Bloomberg reports<\/a>. This anticipated approval is poised to influence the cryptocurrency markets in the near term. The ETFs, if launched, will enable investors to trade bitcoin and ether on regulated platforms, enhancing the legitimacy and stability of investing in cryptocurrencies.<\/p>\n\n\n\n

Bloomberg\u2019s sources suggest that if the Hong Kong Exchanges & Clearing can finalize the listing details promptly, trading could commence by the end of April. Harvest Global Investments and Bosera Asset Management, in collaboration with HashKey Capital, are frontrunners in receiving the first approvals for these spot cryptocurrency ETFs. This move could cement Hong Kong's position as a major hub for digital assets in Asia, particularly if it leads to a successful market response similar to the U.S., where the approval of bitcoin ETFs in January triggered a price rally, pushing bitcoin\u2019s value to $73,000.<\/p>\n\n\n\n

However, unlike in the U.S., where ether ETFs have not yet been approved, Hong Kong might take the lead in this area as well. The city's market regulator, the Securities and Futures Commission (SFC), has not commented on the developments. Similarly, inquiries to Harvest Global Investments, Bosera Asset Management, HashKey Capital, and HKEX received no immediate response.<\/p>\n\n\n\n

See Related: <\/em><\/strong>Hong Kong Invests Over $6.4M Into Web 3 Development<\/a><\/p>\n\n\n\n

Ether ETF Update<\/h2>\n\n\n\n

The U.S. Securities and Exchange Commission (SEC) has once again delayed its decision on the application for an Ether ETF. A new deadline is set for May 23<\/a>.<\/p>\n\n\n\n

Despite this, analysts remain cautiously optimistic, estimating a 60% chance<\/a> of eventual approval. These delays and the ongoing review process indicate that the SEC is maintaining a cautious approach towards the approval of Ether ETFs. It reflects the complexities involved in integrating such products into the financial system.<\/p>\n","post_title":"Hong Kong Set to Approve Bitcoin And Ether ETFs By Monday","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"hong-kong-set-to-approve-bitcoin-and-ether-etfs-by-monday","to_ping":"","pinged":"","post_modified":"2024-04-15 03:53:05","post_modified_gmt":"2024-04-14 17:53:05","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16362","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":16347,"post_author":"15","post_date":"2024-04-14 00:03:48","post_date_gmt":"2024-04-13 14:03:48","post_content":"\n

Bitfinex Securities El Salvador is initiating a tokenized debt offering to fund the development of a Hampton by Hilton hotel complex spanning 4,484 square meters at El Salvador International Airport.<\/p>\n\n\n\n

In January, Bitfinex Securities<\/a> became the inaugural regulated entity to obtain a license to operate in El Salvador under the country\u2019s newly enacted Digital Asset Securities Law. This move anticipated a surge in demand for regulated investment vehicles, following the successful introduction of U.S. spot bitcoin exchange-traded funds.<\/p>\n\n\n\n

At the time, the tokenized securities platform announced its acceptance of customer applications and outlined a pipeline of potential financial asset issuances projected to launch in the year's first half.<\/p>\n\n\n\n

The tokenized debt, issued by El Salvadoran firm Inversiones Laguardia S.A. de C.V., is poised to be the inaugural token to trade on the platform. Utilizing the Liquid Network, a Bitcoin sidechain, the token will be denoted as HILSV and traded against U.S. dollars and Tether\u2019s USDT stablecoin.<\/p>\n\n\n\n

See Related: <\/em><\/strong>El Salvador Businesses Barely Impacted By Bitcoins Legality<\/a><\/p>\n\n\n\n

El Salvador Leads The Way<\/h2>\n\n\n\n


El Salvador stands at the forefront of cryptocurrency adoption wherein Bitcoin is recognized as legal tender. Since June 2021, it has been the first country to embrace Bitcoin alongside the US dollar for everyday transactions, making significant strides in the global crypto landscape. <\/p>\n\n\n\n

Under President Nayib Bukele, the government has initiated a groundbreaking project, where the state purchases one Bitcoin daily to bolster its reserves. <\/p>\n","post_title":"Bitfinex Securities Launches Tokenized Debt Offering For A Hotel In El Salvador","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"bitfinex-securities-launches-tokenized-debt-offering-for-a-hotel-in-el-salvador","to_ping":"","pinged":"","post_modified":"2024-04-14 00:03:52","post_modified_gmt":"2024-04-13 14:03:52","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16347","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 … 4 5 6 7 8 … 20

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

See Related:<\/em><\/strong> Binance's $3.9 Billion USDT Transfer Sparks Speculation Amidst CEO's Guilty Plea<\/a><\/p>\n\n\n\n

Money Laundering in 2024 Reports<\/h2>\n\n\n\n

In 2023, the volume of cryptocurrency involved in money laundering activities decreased significantly, with centralized exchanges continuing as the primary channels for such transactions. DeFi protocols and gambling services saw an uptick in use for laundering, yet they generally lack the anonymity preferred by launderers.<\/p>\n\n\n\n

Sophisticated criminals, particularly North Korea's Lazarus Group, adapted to law enforcement tactics by employing new mixers and utilizing cross-chain bridges to launder funds. These methods allow them to obfuscate the origins of illicit funds more effectively across multiple blockchain platforms, demonstrating a dynamic shift in the techniques used by high-level criminal enterprises to evade detection.<\/p>\n","post_title":"AI Powers New Tool To Detect Illegal Bitcoin Transactions, Study Shows","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"ai-powers-new-tool-to-detect-illegal-bitcoin-transactions-study-shows","to_ping":"","pinged":"","post_modified":"2024-05-04 02:07:20","post_modified_gmt":"2024-05-03 16:07:20","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16722","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":16491,"post_author":"15","post_date":"2024-04-21 10:09:53","post_date_gmt":"2024-04-21 00:09:53","post_content":"\n

Entrepreneur and Dallas Mavericks owner Mark Cuban recently discussed the implications of the upcoming Bitcoin halving. He emphasized its significant impact on miner revenues.<\/p>\n\n\n\n

During an interview <\/a>with The Block, Cuban pointed out that the halving will reduce mining rewards from 6.25 BTC to 3.125 BTC, effectively slashing the income for bitcoin miners by nearly half. However, Cuban expressed greater curiosity about the role artificial intelligence (AI) might play in the mining sector, especially concerning the demand for GPUs.<\/p>\n\n\n\n

Cuban highlighted the intense competition between AI's needs for GPUs and cryptocurrency mining's demands. He questioned whether the economic landscape of mining could be altered by the booming AI industry, asking if it might be more profitable to utilize GPUs for AI model training rather than mining. This issue primarily affects miners using GPUs for cryptocurrencies other than Bitcoin, which typically relies on ASIC machines.<\/p>\n\n\n\n

The intersection of AI and cryptocurrency mining is already seeing practical applications, with companies like Xive and Hive Digital Technologies expanding into AI to bolster their primary mining operations. <\/p>\n\n\n\n

See Related:<\/em><\/strong> Cryptocurrency Statistics And Insights (2022)<\/a><\/p>\n\n\n\n

Bitcoin Halving is Coming<\/h2>\n\n\n\n

Bitcoin halving is a significant event in the cryptocurrency world that occurs approximately every four years, or after 210,000 blocks are mined. During a halving, bitcoin miners' reward for verifying transactions and adding them to the blockchain is reduced by half. This mechanism was designed by Satoshi Nakamoto, the anonymous creator of Bitcoin, to control inflation by limiting the total number of bitcoins that can ever be in circulation to 21 million.<\/p>\n\n\n\n

As of writing, the price of Bitcoin is at $63,760, and 2 blocks remaining until the next Bitcoin halving.<\/p>\n","post_title":"Bitcoin Halving To Slash Miner Earnings, Cuban Eyes AI Shift","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"bitcoin-halving-to-slash-miner-earnings-cuban-eyes-ai-shift","to_ping":"","pinged":"","post_modified":"2024-04-21 10:10:00","post_modified_gmt":"2024-04-21 00:10:00","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16491","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":16460,"post_author":"15","post_date":"2024-04-19 23:38:06","post_date_gmt":"2024-04-19 13:38:06","post_content":"\n

Binance, the leading global cryptocurrency exchange, is set to make a comeback in India after agreeing to pay a $2 million penalty. This development follows a period of stringent regulatory scrutiny where the Indian government blocked nine cryptocurrency websites. They also prompted the removal of related apps from Apple and Google stores due to non-compliance with local laws. <\/p>\n\n\n\n

According to the Economic Times<\/a>, sources close to the matter indicate that Binance is restructuring its operations in South Asia. The cryptocurrency exchange is planning to fully comply with the Financial Intelligence Unit of India, which regulates the local trading of digital assets.<\/p>\n\n\n\n

The move comes as part of Binance's efforts to align with India's financial regulations, including adherence to anti-money laundering and taxation statutes. Before the crackdown, Binance held a commanding presence in the Indian market, with an estimated 90% of crypto holdings among Indian investors, totaling about $4 billion.<\/p>\n\n\n\n

See Related:<\/em><\/strong> Indian Parliament Passes A 30% Crypto Tax Law<\/a><\/p>\n\n\n\n

Nigeria Detains Binance Executives<\/h2>\n\n\n\n

Two months ago, Nigeria detained two executives of the Binance after they flew into the country. The country's Office of the National Security Adviser detained the two, and their passports were seized. <\/p>\n\n\n\n

Nigerian officials have leveled several charges against the cryptocurrency exchange Binance. The allegation includes exploiting the local economy, contributing to the devaluation of the Nigerian naira, and engaging in money laundering activities. They allege that Binance has been involved in manipulating the exchange rates by engaging in speculative actions and fixing rates. Furthermore, the Nigerian government has expressed concerns over $26 billion in transactions carried out on Binance's platform, which they report as being untraceable.<\/p>\n\n\n\n

Binance has denied any wrongdoing, but this is not the first time it has bumped heads with regulators.<\/p>\n","post_title":"Binance Set To Re-enter Indian Market with $2 Million Fine Settlement","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"binance-set-to-re-enter-indian-market-with-2-million-fine-settlement","to_ping":"","pinged":"","post_modified":"2024-04-20 04:11:08","post_modified_gmt":"2024-04-19 18:11:08","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16460","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":16362,"post_author":"15","post_date":"2024-04-15 03:52:59","post_date_gmt":"2024-04-14 17:52:59","post_content":"\n

Hong Kong is on the brink of approving spot exchange-traded funds (ETFs) for bitcoin and ether, potentially by Monday, Bloomberg reports<\/a>. This anticipated approval is poised to influence the cryptocurrency markets in the near term. The ETFs, if launched, will enable investors to trade bitcoin and ether on regulated platforms, enhancing the legitimacy and stability of investing in cryptocurrencies.<\/p>\n\n\n\n

Bloomberg\u2019s sources suggest that if the Hong Kong Exchanges & Clearing can finalize the listing details promptly, trading could commence by the end of April. Harvest Global Investments and Bosera Asset Management, in collaboration with HashKey Capital, are frontrunners in receiving the first approvals for these spot cryptocurrency ETFs. This move could cement Hong Kong's position as a major hub for digital assets in Asia, particularly if it leads to a successful market response similar to the U.S., where the approval of bitcoin ETFs in January triggered a price rally, pushing bitcoin\u2019s value to $73,000.<\/p>\n\n\n\n

However, unlike in the U.S., where ether ETFs have not yet been approved, Hong Kong might take the lead in this area as well. The city's market regulator, the Securities and Futures Commission (SFC), has not commented on the developments. Similarly, inquiries to Harvest Global Investments, Bosera Asset Management, HashKey Capital, and HKEX received no immediate response.<\/p>\n\n\n\n

See Related: <\/em><\/strong>Hong Kong Invests Over $6.4M Into Web 3 Development<\/a><\/p>\n\n\n\n

Ether ETF Update<\/h2>\n\n\n\n

The U.S. Securities and Exchange Commission (SEC) has once again delayed its decision on the application for an Ether ETF. A new deadline is set for May 23<\/a>.<\/p>\n\n\n\n

Despite this, analysts remain cautiously optimistic, estimating a 60% chance<\/a> of eventual approval. These delays and the ongoing review process indicate that the SEC is maintaining a cautious approach towards the approval of Ether ETFs. It reflects the complexities involved in integrating such products into the financial system.<\/p>\n","post_title":"Hong Kong Set to Approve Bitcoin And Ether ETFs By Monday","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"hong-kong-set-to-approve-bitcoin-and-ether-etfs-by-monday","to_ping":"","pinged":"","post_modified":"2024-04-15 03:53:05","post_modified_gmt":"2024-04-14 17:53:05","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16362","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":16347,"post_author":"15","post_date":"2024-04-14 00:03:48","post_date_gmt":"2024-04-13 14:03:48","post_content":"\n

Bitfinex Securities El Salvador is initiating a tokenized debt offering to fund the development of a Hampton by Hilton hotel complex spanning 4,484 square meters at El Salvador International Airport.<\/p>\n\n\n\n

In January, Bitfinex Securities<\/a> became the inaugural regulated entity to obtain a license to operate in El Salvador under the country\u2019s newly enacted Digital Asset Securities Law. This move anticipated a surge in demand for regulated investment vehicles, following the successful introduction of U.S. spot bitcoin exchange-traded funds.<\/p>\n\n\n\n

At the time, the tokenized securities platform announced its acceptance of customer applications and outlined a pipeline of potential financial asset issuances projected to launch in the year's first half.<\/p>\n\n\n\n

The tokenized debt, issued by El Salvadoran firm Inversiones Laguardia S.A. de C.V., is poised to be the inaugural token to trade on the platform. Utilizing the Liquid Network, a Bitcoin sidechain, the token will be denoted as HILSV and traded against U.S. dollars and Tether\u2019s USDT stablecoin.<\/p>\n\n\n\n

See Related: <\/em><\/strong>El Salvador Businesses Barely Impacted By Bitcoins Legality<\/a><\/p>\n\n\n\n

El Salvador Leads The Way<\/h2>\n\n\n\n


El Salvador stands at the forefront of cryptocurrency adoption wherein Bitcoin is recognized as legal tender. Since June 2021, it has been the first country to embrace Bitcoin alongside the US dollar for everyday transactions, making significant strides in the global crypto landscape. <\/p>\n\n\n\n

Under President Nayib Bukele, the government has initiated a groundbreaking project, where the state purchases one Bitcoin daily to bolster its reserves. <\/p>\n","post_title":"Bitfinex Securities Launches Tokenized Debt Offering For A Hotel In El Salvador","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"bitfinex-securities-launches-tokenized-debt-offering-for-a-hotel-in-el-salvador","to_ping":"","pinged":"","post_modified":"2024-04-14 00:03:52","post_modified_gmt":"2024-04-13 14:03:52","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16347","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 … 4 5 6 7 8 … 20

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

Elliptic clarified that instead of directly identifying transactions by illicit actors, the machine learning model is trained to recognize 'subgraphs'\u2014sequences of transactions that depict the laundering of Bitcoin. This method focuses more broadly on the multi-step laundering process rather than specific illegal actions on the blockchain.<\/p>\n\n\n\n

See Related:<\/em><\/strong> Binance's $3.9 Billion USDT Transfer Sparks Speculation Amidst CEO's Guilty Plea<\/a><\/p>\n\n\n\n

Money Laundering in 2024 Reports<\/h2>\n\n\n\n

In 2023, the volume of cryptocurrency involved in money laundering activities decreased significantly, with centralized exchanges continuing as the primary channels for such transactions. DeFi protocols and gambling services saw an uptick in use for laundering, yet they generally lack the anonymity preferred by launderers.<\/p>\n\n\n\n

Sophisticated criminals, particularly North Korea's Lazarus Group, adapted to law enforcement tactics by employing new mixers and utilizing cross-chain bridges to launder funds. These methods allow them to obfuscate the origins of illicit funds more effectively across multiple blockchain platforms, demonstrating a dynamic shift in the techniques used by high-level criminal enterprises to evade detection.<\/p>\n","post_title":"AI Powers New Tool To Detect Illegal Bitcoin Transactions, Study Shows","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"ai-powers-new-tool-to-detect-illegal-bitcoin-transactions-study-shows","to_ping":"","pinged":"","post_modified":"2024-05-04 02:07:20","post_modified_gmt":"2024-05-03 16:07:20","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16722","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":16491,"post_author":"15","post_date":"2024-04-21 10:09:53","post_date_gmt":"2024-04-21 00:09:53","post_content":"\n

Entrepreneur and Dallas Mavericks owner Mark Cuban recently discussed the implications of the upcoming Bitcoin halving. He emphasized its significant impact on miner revenues.<\/p>\n\n\n\n

During an interview <\/a>with The Block, Cuban pointed out that the halving will reduce mining rewards from 6.25 BTC to 3.125 BTC, effectively slashing the income for bitcoin miners by nearly half. However, Cuban expressed greater curiosity about the role artificial intelligence (AI) might play in the mining sector, especially concerning the demand for GPUs.<\/p>\n\n\n\n

Cuban highlighted the intense competition between AI's needs for GPUs and cryptocurrency mining's demands. He questioned whether the economic landscape of mining could be altered by the booming AI industry, asking if it might be more profitable to utilize GPUs for AI model training rather than mining. This issue primarily affects miners using GPUs for cryptocurrencies other than Bitcoin, which typically relies on ASIC machines.<\/p>\n\n\n\n

The intersection of AI and cryptocurrency mining is already seeing practical applications, with companies like Xive and Hive Digital Technologies expanding into AI to bolster their primary mining operations. <\/p>\n\n\n\n

See Related:<\/em><\/strong> Cryptocurrency Statistics And Insights (2022)<\/a><\/p>\n\n\n\n

Bitcoin Halving is Coming<\/h2>\n\n\n\n

Bitcoin halving is a significant event in the cryptocurrency world that occurs approximately every four years, or after 210,000 blocks are mined. During a halving, bitcoin miners' reward for verifying transactions and adding them to the blockchain is reduced by half. This mechanism was designed by Satoshi Nakamoto, the anonymous creator of Bitcoin, to control inflation by limiting the total number of bitcoins that can ever be in circulation to 21 million.<\/p>\n\n\n\n

As of writing, the price of Bitcoin is at $63,760, and 2 blocks remaining until the next Bitcoin halving.<\/p>\n","post_title":"Bitcoin Halving To Slash Miner Earnings, Cuban Eyes AI Shift","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"bitcoin-halving-to-slash-miner-earnings-cuban-eyes-ai-shift","to_ping":"","pinged":"","post_modified":"2024-04-21 10:10:00","post_modified_gmt":"2024-04-21 00:10:00","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16491","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":16460,"post_author":"15","post_date":"2024-04-19 23:38:06","post_date_gmt":"2024-04-19 13:38:06","post_content":"\n

Binance, the leading global cryptocurrency exchange, is set to make a comeback in India after agreeing to pay a $2 million penalty. This development follows a period of stringent regulatory scrutiny where the Indian government blocked nine cryptocurrency websites. They also prompted the removal of related apps from Apple and Google stores due to non-compliance with local laws. <\/p>\n\n\n\n

According to the Economic Times<\/a>, sources close to the matter indicate that Binance is restructuring its operations in South Asia. The cryptocurrency exchange is planning to fully comply with the Financial Intelligence Unit of India, which regulates the local trading of digital assets.<\/p>\n\n\n\n

The move comes as part of Binance's efforts to align with India's financial regulations, including adherence to anti-money laundering and taxation statutes. Before the crackdown, Binance held a commanding presence in the Indian market, with an estimated 90% of crypto holdings among Indian investors, totaling about $4 billion.<\/p>\n\n\n\n

See Related:<\/em><\/strong> Indian Parliament Passes A 30% Crypto Tax Law<\/a><\/p>\n\n\n\n

Nigeria Detains Binance Executives<\/h2>\n\n\n\n

Two months ago, Nigeria detained two executives of the Binance after they flew into the country. The country's Office of the National Security Adviser detained the two, and their passports were seized. <\/p>\n\n\n\n

Nigerian officials have leveled several charges against the cryptocurrency exchange Binance. The allegation includes exploiting the local economy, contributing to the devaluation of the Nigerian naira, and engaging in money laundering activities. They allege that Binance has been involved in manipulating the exchange rates by engaging in speculative actions and fixing rates. Furthermore, the Nigerian government has expressed concerns over $26 billion in transactions carried out on Binance's platform, which they report as being untraceable.<\/p>\n\n\n\n

Binance has denied any wrongdoing, but this is not the first time it has bumped heads with regulators.<\/p>\n","post_title":"Binance Set To Re-enter Indian Market with $2 Million Fine Settlement","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"binance-set-to-re-enter-indian-market-with-2-million-fine-settlement","to_ping":"","pinged":"","post_modified":"2024-04-20 04:11:08","post_modified_gmt":"2024-04-19 18:11:08","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16460","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":16362,"post_author":"15","post_date":"2024-04-15 03:52:59","post_date_gmt":"2024-04-14 17:52:59","post_content":"\n

Hong Kong is on the brink of approving spot exchange-traded funds (ETFs) for bitcoin and ether, potentially by Monday, Bloomberg reports<\/a>. This anticipated approval is poised to influence the cryptocurrency markets in the near term. The ETFs, if launched, will enable investors to trade bitcoin and ether on regulated platforms, enhancing the legitimacy and stability of investing in cryptocurrencies.<\/p>\n\n\n\n

Bloomberg\u2019s sources suggest that if the Hong Kong Exchanges & Clearing can finalize the listing details promptly, trading could commence by the end of April. Harvest Global Investments and Bosera Asset Management, in collaboration with HashKey Capital, are frontrunners in receiving the first approvals for these spot cryptocurrency ETFs. This move could cement Hong Kong's position as a major hub for digital assets in Asia, particularly if it leads to a successful market response similar to the U.S., where the approval of bitcoin ETFs in January triggered a price rally, pushing bitcoin\u2019s value to $73,000.<\/p>\n\n\n\n

However, unlike in the U.S., where ether ETFs have not yet been approved, Hong Kong might take the lead in this area as well. The city's market regulator, the Securities and Futures Commission (SFC), has not commented on the developments. Similarly, inquiries to Harvest Global Investments, Bosera Asset Management, HashKey Capital, and HKEX received no immediate response.<\/p>\n\n\n\n

See Related: <\/em><\/strong>Hong Kong Invests Over $6.4M Into Web 3 Development<\/a><\/p>\n\n\n\n

Ether ETF Update<\/h2>\n\n\n\n

The U.S. Securities and Exchange Commission (SEC) has once again delayed its decision on the application for an Ether ETF. A new deadline is set for May 23<\/a>.<\/p>\n\n\n\n

Despite this, analysts remain cautiously optimistic, estimating a 60% chance<\/a> of eventual approval. These delays and the ongoing review process indicate that the SEC is maintaining a cautious approach towards the approval of Ether ETFs. It reflects the complexities involved in integrating such products into the financial system.<\/p>\n","post_title":"Hong Kong Set to Approve Bitcoin And Ether ETFs By Monday","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"hong-kong-set-to-approve-bitcoin-and-ether-etfs-by-monday","to_ping":"","pinged":"","post_modified":"2024-04-15 03:53:05","post_modified_gmt":"2024-04-14 17:53:05","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16362","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":16347,"post_author":"15","post_date":"2024-04-14 00:03:48","post_date_gmt":"2024-04-13 14:03:48","post_content":"\n

Bitfinex Securities El Salvador is initiating a tokenized debt offering to fund the development of a Hampton by Hilton hotel complex spanning 4,484 square meters at El Salvador International Airport.<\/p>\n\n\n\n

In January, Bitfinex Securities<\/a> became the inaugural regulated entity to obtain a license to operate in El Salvador under the country\u2019s newly enacted Digital Asset Securities Law. This move anticipated a surge in demand for regulated investment vehicles, following the successful introduction of U.S. spot bitcoin exchange-traded funds.<\/p>\n\n\n\n

At the time, the tokenized securities platform announced its acceptance of customer applications and outlined a pipeline of potential financial asset issuances projected to launch in the year's first half.<\/p>\n\n\n\n

The tokenized debt, issued by El Salvadoran firm Inversiones Laguardia S.A. de C.V., is poised to be the inaugural token to trade on the platform. Utilizing the Liquid Network, a Bitcoin sidechain, the token will be denoted as HILSV and traded against U.S. dollars and Tether\u2019s USDT stablecoin.<\/p>\n\n\n\n

See Related: <\/em><\/strong>El Salvador Businesses Barely Impacted By Bitcoins Legality<\/a><\/p>\n\n\n\n

El Salvador Leads The Way<\/h2>\n\n\n\n


El Salvador stands at the forefront of cryptocurrency adoption wherein Bitcoin is recognized as legal tender. Since June 2021, it has been the first country to embrace Bitcoin alongside the US dollar for everyday transactions, making significant strides in the global crypto landscape. <\/p>\n\n\n\n

Under President Nayib Bukele, the government has initiated a groundbreaking project, where the state purchases one Bitcoin daily to bolster its reserves. <\/p>\n","post_title":"Bitfinex Securities Launches Tokenized Debt Offering For A Hotel In El Salvador","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"bitfinex-securities-launches-tokenized-debt-offering-for-a-hotel-in-el-salvador","to_ping":"","pinged":"","post_modified":"2024-04-14 00:03:52","post_modified_gmt":"2024-04-13 14:03:52","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16347","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 … 4 5 6 7 8 … 20

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

Elliptic stated, \u201cBlockchains provide fertile ground for machine learning techniques, thanks to the availability of both transaction data and information on the types of entities that are transacting, collected by us and others. This is in contrast to traditional finance where transaction data is typically siloed, making it challenging to apply these techniques.\u201d<\/em><\/p>\n\n\n\n

Elliptic clarified that instead of directly identifying transactions by illicit actors, the machine learning model is trained to recognize 'subgraphs'\u2014sequences of transactions that depict the laundering of Bitcoin. This method focuses more broadly on the multi-step laundering process rather than specific illegal actions on the blockchain.<\/p>\n\n\n\n

See Related:<\/em><\/strong> Binance's $3.9 Billion USDT Transfer Sparks Speculation Amidst CEO's Guilty Plea<\/a><\/p>\n\n\n\n

Money Laundering in 2024 Reports<\/h2>\n\n\n\n

In 2023, the volume of cryptocurrency involved in money laundering activities decreased significantly, with centralized exchanges continuing as the primary channels for such transactions. DeFi protocols and gambling services saw an uptick in use for laundering, yet they generally lack the anonymity preferred by launderers.<\/p>\n\n\n\n

Sophisticated criminals, particularly North Korea's Lazarus Group, adapted to law enforcement tactics by employing new mixers and utilizing cross-chain bridges to launder funds. These methods allow them to obfuscate the origins of illicit funds more effectively across multiple blockchain platforms, demonstrating a dynamic shift in the techniques used by high-level criminal enterprises to evade detection.<\/p>\n","post_title":"AI Powers New Tool To Detect Illegal Bitcoin Transactions, Study Shows","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"ai-powers-new-tool-to-detect-illegal-bitcoin-transactions-study-shows","to_ping":"","pinged":"","post_modified":"2024-05-04 02:07:20","post_modified_gmt":"2024-05-03 16:07:20","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16722","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":16491,"post_author":"15","post_date":"2024-04-21 10:09:53","post_date_gmt":"2024-04-21 00:09:53","post_content":"\n

Entrepreneur and Dallas Mavericks owner Mark Cuban recently discussed the implications of the upcoming Bitcoin halving. He emphasized its significant impact on miner revenues.<\/p>\n\n\n\n

During an interview <\/a>with The Block, Cuban pointed out that the halving will reduce mining rewards from 6.25 BTC to 3.125 BTC, effectively slashing the income for bitcoin miners by nearly half. However, Cuban expressed greater curiosity about the role artificial intelligence (AI) might play in the mining sector, especially concerning the demand for GPUs.<\/p>\n\n\n\n

Cuban highlighted the intense competition between AI's needs for GPUs and cryptocurrency mining's demands. He questioned whether the economic landscape of mining could be altered by the booming AI industry, asking if it might be more profitable to utilize GPUs for AI model training rather than mining. This issue primarily affects miners using GPUs for cryptocurrencies other than Bitcoin, which typically relies on ASIC machines.<\/p>\n\n\n\n

The intersection of AI and cryptocurrency mining is already seeing practical applications, with companies like Xive and Hive Digital Technologies expanding into AI to bolster their primary mining operations. <\/p>\n\n\n\n

See Related:<\/em><\/strong> Cryptocurrency Statistics And Insights (2022)<\/a><\/p>\n\n\n\n

Bitcoin Halving is Coming<\/h2>\n\n\n\n

Bitcoin halving is a significant event in the cryptocurrency world that occurs approximately every four years, or after 210,000 blocks are mined. During a halving, bitcoin miners' reward for verifying transactions and adding them to the blockchain is reduced by half. This mechanism was designed by Satoshi Nakamoto, the anonymous creator of Bitcoin, to control inflation by limiting the total number of bitcoins that can ever be in circulation to 21 million.<\/p>\n\n\n\n

As of writing, the price of Bitcoin is at $63,760, and 2 blocks remaining until the next Bitcoin halving.<\/p>\n","post_title":"Bitcoin Halving To Slash Miner Earnings, Cuban Eyes AI Shift","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"bitcoin-halving-to-slash-miner-earnings-cuban-eyes-ai-shift","to_ping":"","pinged":"","post_modified":"2024-04-21 10:10:00","post_modified_gmt":"2024-04-21 00:10:00","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16491","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":16460,"post_author":"15","post_date":"2024-04-19 23:38:06","post_date_gmt":"2024-04-19 13:38:06","post_content":"\n

Binance, the leading global cryptocurrency exchange, is set to make a comeback in India after agreeing to pay a $2 million penalty. This development follows a period of stringent regulatory scrutiny where the Indian government blocked nine cryptocurrency websites. They also prompted the removal of related apps from Apple and Google stores due to non-compliance with local laws. <\/p>\n\n\n\n

According to the Economic Times<\/a>, sources close to the matter indicate that Binance is restructuring its operations in South Asia. The cryptocurrency exchange is planning to fully comply with the Financial Intelligence Unit of India, which regulates the local trading of digital assets.<\/p>\n\n\n\n

The move comes as part of Binance's efforts to align with India's financial regulations, including adherence to anti-money laundering and taxation statutes. Before the crackdown, Binance held a commanding presence in the Indian market, with an estimated 90% of crypto holdings among Indian investors, totaling about $4 billion.<\/p>\n\n\n\n

See Related:<\/em><\/strong> Indian Parliament Passes A 30% Crypto Tax Law<\/a><\/p>\n\n\n\n

Nigeria Detains Binance Executives<\/h2>\n\n\n\n

Two months ago, Nigeria detained two executives of the Binance after they flew into the country. The country's Office of the National Security Adviser detained the two, and their passports were seized. <\/p>\n\n\n\n

Nigerian officials have leveled several charges against the cryptocurrency exchange Binance. The allegation includes exploiting the local economy, contributing to the devaluation of the Nigerian naira, and engaging in money laundering activities. They allege that Binance has been involved in manipulating the exchange rates by engaging in speculative actions and fixing rates. Furthermore, the Nigerian government has expressed concerns over $26 billion in transactions carried out on Binance's platform, which they report as being untraceable.<\/p>\n\n\n\n

Binance has denied any wrongdoing, but this is not the first time it has bumped heads with regulators.<\/p>\n","post_title":"Binance Set To Re-enter Indian Market with $2 Million Fine Settlement","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"binance-set-to-re-enter-indian-market-with-2-million-fine-settlement","to_ping":"","pinged":"","post_modified":"2024-04-20 04:11:08","post_modified_gmt":"2024-04-19 18:11:08","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16460","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":16362,"post_author":"15","post_date":"2024-04-15 03:52:59","post_date_gmt":"2024-04-14 17:52:59","post_content":"\n

Hong Kong is on the brink of approving spot exchange-traded funds (ETFs) for bitcoin and ether, potentially by Monday, Bloomberg reports<\/a>. This anticipated approval is poised to influence the cryptocurrency markets in the near term. The ETFs, if launched, will enable investors to trade bitcoin and ether on regulated platforms, enhancing the legitimacy and stability of investing in cryptocurrencies.<\/p>\n\n\n\n

Bloomberg\u2019s sources suggest that if the Hong Kong Exchanges & Clearing can finalize the listing details promptly, trading could commence by the end of April. Harvest Global Investments and Bosera Asset Management, in collaboration with HashKey Capital, are frontrunners in receiving the first approvals for these spot cryptocurrency ETFs. This move could cement Hong Kong's position as a major hub for digital assets in Asia, particularly if it leads to a successful market response similar to the U.S., where the approval of bitcoin ETFs in January triggered a price rally, pushing bitcoin\u2019s value to $73,000.<\/p>\n\n\n\n

However, unlike in the U.S., where ether ETFs have not yet been approved, Hong Kong might take the lead in this area as well. The city's market regulator, the Securities and Futures Commission (SFC), has not commented on the developments. Similarly, inquiries to Harvest Global Investments, Bosera Asset Management, HashKey Capital, and HKEX received no immediate response.<\/p>\n\n\n\n

See Related: <\/em><\/strong>Hong Kong Invests Over $6.4M Into Web 3 Development<\/a><\/p>\n\n\n\n

Ether ETF Update<\/h2>\n\n\n\n

The U.S. Securities and Exchange Commission (SEC) has once again delayed its decision on the application for an Ether ETF. A new deadline is set for May 23<\/a>.<\/p>\n\n\n\n

Despite this, analysts remain cautiously optimistic, estimating a 60% chance<\/a> of eventual approval. These delays and the ongoing review process indicate that the SEC is maintaining a cautious approach towards the approval of Ether ETFs. It reflects the complexities involved in integrating such products into the financial system.<\/p>\n","post_title":"Hong Kong Set to Approve Bitcoin And Ether ETFs By Monday","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"hong-kong-set-to-approve-bitcoin-and-ether-etfs-by-monday","to_ping":"","pinged":"","post_modified":"2024-04-15 03:53:05","post_modified_gmt":"2024-04-14 17:53:05","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16362","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":16347,"post_author":"15","post_date":"2024-04-14 00:03:48","post_date_gmt":"2024-04-13 14:03:48","post_content":"\n

Bitfinex Securities El Salvador is initiating a tokenized debt offering to fund the development of a Hampton by Hilton hotel complex spanning 4,484 square meters at El Salvador International Airport.<\/p>\n\n\n\n

In January, Bitfinex Securities<\/a> became the inaugural regulated entity to obtain a license to operate in El Salvador under the country\u2019s newly enacted Digital Asset Securities Law. This move anticipated a surge in demand for regulated investment vehicles, following the successful introduction of U.S. spot bitcoin exchange-traded funds.<\/p>\n\n\n\n

At the time, the tokenized securities platform announced its acceptance of customer applications and outlined a pipeline of potential financial asset issuances projected to launch in the year's first half.<\/p>\n\n\n\n

The tokenized debt, issued by El Salvadoran firm Inversiones Laguardia S.A. de C.V., is poised to be the inaugural token to trade on the platform. Utilizing the Liquid Network, a Bitcoin sidechain, the token will be denoted as HILSV and traded against U.S. dollars and Tether\u2019s USDT stablecoin.<\/p>\n\n\n\n

See Related: <\/em><\/strong>El Salvador Businesses Barely Impacted By Bitcoins Legality<\/a><\/p>\n\n\n\n

El Salvador Leads The Way<\/h2>\n\n\n\n


El Salvador stands at the forefront of cryptocurrency adoption wherein Bitcoin is recognized as legal tender. Since June 2021, it has been the first country to embrace Bitcoin alongside the US dollar for everyday transactions, making significant strides in the global crypto landscape. <\/p>\n\n\n\n

Under President Nayib Bukele, the government has initiated a groundbreaking project, where the state purchases one Bitcoin daily to bolster its reserves. <\/p>\n","post_title":"Bitfinex Securities Launches Tokenized Debt Offering For A Hotel In El Salvador","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"bitfinex-securities-launches-tokenized-debt-offering-for-a-hotel-in-el-salvador","to_ping":"","pinged":"","post_modified":"2024-04-14 00:03:52","post_modified_gmt":"2024-04-13 14:03:52","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16347","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 … 4 5 6 7 8 … 20

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

Bitcoin's use of a decentralized public ledger, a fundamental aspect of the technology, facilitated the research, according to Elliptic. The collaboration between Elliptic and MIT-IBM leveraged AI to distinguish between legal and illegal transactions, tracking connections within the latter to expose potential money laundering activities.<\/p>\n\n\n\n

Elliptic stated, \u201cBlockchains provide fertile ground for machine learning techniques, thanks to the availability of both transaction data and information on the types of entities that are transacting, collected by us and others. This is in contrast to traditional finance where transaction data is typically siloed, making it challenging to apply these techniques.\u201d<\/em><\/p>\n\n\n\n

Elliptic clarified that instead of directly identifying transactions by illicit actors, the machine learning model is trained to recognize 'subgraphs'\u2014sequences of transactions that depict the laundering of Bitcoin. This method focuses more broadly on the multi-step laundering process rather than specific illegal actions on the blockchain.<\/p>\n\n\n\n

See Related:<\/em><\/strong> Binance's $3.9 Billion USDT Transfer Sparks Speculation Amidst CEO's Guilty Plea<\/a><\/p>\n\n\n\n

Money Laundering in 2024 Reports<\/h2>\n\n\n\n

In 2023, the volume of cryptocurrency involved in money laundering activities decreased significantly, with centralized exchanges continuing as the primary channels for such transactions. DeFi protocols and gambling services saw an uptick in use for laundering, yet they generally lack the anonymity preferred by launderers.<\/p>\n\n\n\n

Sophisticated criminals, particularly North Korea's Lazarus Group, adapted to law enforcement tactics by employing new mixers and utilizing cross-chain bridges to launder funds. These methods allow them to obfuscate the origins of illicit funds more effectively across multiple blockchain platforms, demonstrating a dynamic shift in the techniques used by high-level criminal enterprises to evade detection.<\/p>\n","post_title":"AI Powers New Tool To Detect Illegal Bitcoin Transactions, Study Shows","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"ai-powers-new-tool-to-detect-illegal-bitcoin-transactions-study-shows","to_ping":"","pinged":"","post_modified":"2024-05-04 02:07:20","post_modified_gmt":"2024-05-03 16:07:20","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16722","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":16491,"post_author":"15","post_date":"2024-04-21 10:09:53","post_date_gmt":"2024-04-21 00:09:53","post_content":"\n

Entrepreneur and Dallas Mavericks owner Mark Cuban recently discussed the implications of the upcoming Bitcoin halving. He emphasized its significant impact on miner revenues.<\/p>\n\n\n\n

During an interview <\/a>with The Block, Cuban pointed out that the halving will reduce mining rewards from 6.25 BTC to 3.125 BTC, effectively slashing the income for bitcoin miners by nearly half. However, Cuban expressed greater curiosity about the role artificial intelligence (AI) might play in the mining sector, especially concerning the demand for GPUs.<\/p>\n\n\n\n

Cuban highlighted the intense competition between AI's needs for GPUs and cryptocurrency mining's demands. He questioned whether the economic landscape of mining could be altered by the booming AI industry, asking if it might be more profitable to utilize GPUs for AI model training rather than mining. This issue primarily affects miners using GPUs for cryptocurrencies other than Bitcoin, which typically relies on ASIC machines.<\/p>\n\n\n\n

The intersection of AI and cryptocurrency mining is already seeing practical applications, with companies like Xive and Hive Digital Technologies expanding into AI to bolster their primary mining operations. <\/p>\n\n\n\n

See Related:<\/em><\/strong> Cryptocurrency Statistics And Insights (2022)<\/a><\/p>\n\n\n\n

Bitcoin Halving is Coming<\/h2>\n\n\n\n

Bitcoin halving is a significant event in the cryptocurrency world that occurs approximately every four years, or after 210,000 blocks are mined. During a halving, bitcoin miners' reward for verifying transactions and adding them to the blockchain is reduced by half. This mechanism was designed by Satoshi Nakamoto, the anonymous creator of Bitcoin, to control inflation by limiting the total number of bitcoins that can ever be in circulation to 21 million.<\/p>\n\n\n\n

As of writing, the price of Bitcoin is at $63,760, and 2 blocks remaining until the next Bitcoin halving.<\/p>\n","post_title":"Bitcoin Halving To Slash Miner Earnings, Cuban Eyes AI Shift","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"bitcoin-halving-to-slash-miner-earnings-cuban-eyes-ai-shift","to_ping":"","pinged":"","post_modified":"2024-04-21 10:10:00","post_modified_gmt":"2024-04-21 00:10:00","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16491","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":16460,"post_author":"15","post_date":"2024-04-19 23:38:06","post_date_gmt":"2024-04-19 13:38:06","post_content":"\n

Binance, the leading global cryptocurrency exchange, is set to make a comeback in India after agreeing to pay a $2 million penalty. This development follows a period of stringent regulatory scrutiny where the Indian government blocked nine cryptocurrency websites. They also prompted the removal of related apps from Apple and Google stores due to non-compliance with local laws. <\/p>\n\n\n\n

According to the Economic Times<\/a>, sources close to the matter indicate that Binance is restructuring its operations in South Asia. The cryptocurrency exchange is planning to fully comply with the Financial Intelligence Unit of India, which regulates the local trading of digital assets.<\/p>\n\n\n\n

The move comes as part of Binance's efforts to align with India's financial regulations, including adherence to anti-money laundering and taxation statutes. Before the crackdown, Binance held a commanding presence in the Indian market, with an estimated 90% of crypto holdings among Indian investors, totaling about $4 billion.<\/p>\n\n\n\n

See Related:<\/em><\/strong> Indian Parliament Passes A 30% Crypto Tax Law<\/a><\/p>\n\n\n\n

Nigeria Detains Binance Executives<\/h2>\n\n\n\n

Two months ago, Nigeria detained two executives of the Binance after they flew into the country. The country's Office of the National Security Adviser detained the two, and their passports were seized. <\/p>\n\n\n\n

Nigerian officials have leveled several charges against the cryptocurrency exchange Binance. The allegation includes exploiting the local economy, contributing to the devaluation of the Nigerian naira, and engaging in money laundering activities. They allege that Binance has been involved in manipulating the exchange rates by engaging in speculative actions and fixing rates. Furthermore, the Nigerian government has expressed concerns over $26 billion in transactions carried out on Binance's platform, which they report as being untraceable.<\/p>\n\n\n\n

Binance has denied any wrongdoing, but this is not the first time it has bumped heads with regulators.<\/p>\n","post_title":"Binance Set To Re-enter Indian Market with $2 Million Fine Settlement","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"binance-set-to-re-enter-indian-market-with-2-million-fine-settlement","to_ping":"","pinged":"","post_modified":"2024-04-20 04:11:08","post_modified_gmt":"2024-04-19 18:11:08","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16460","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":16362,"post_author":"15","post_date":"2024-04-15 03:52:59","post_date_gmt":"2024-04-14 17:52:59","post_content":"\n

Hong Kong is on the brink of approving spot exchange-traded funds (ETFs) for bitcoin and ether, potentially by Monday, Bloomberg reports<\/a>. This anticipated approval is poised to influence the cryptocurrency markets in the near term. The ETFs, if launched, will enable investors to trade bitcoin and ether on regulated platforms, enhancing the legitimacy and stability of investing in cryptocurrencies.<\/p>\n\n\n\n

Bloomberg\u2019s sources suggest that if the Hong Kong Exchanges & Clearing can finalize the listing details promptly, trading could commence by the end of April. Harvest Global Investments and Bosera Asset Management, in collaboration with HashKey Capital, are frontrunners in receiving the first approvals for these spot cryptocurrency ETFs. This move could cement Hong Kong's position as a major hub for digital assets in Asia, particularly if it leads to a successful market response similar to the U.S., where the approval of bitcoin ETFs in January triggered a price rally, pushing bitcoin\u2019s value to $73,000.<\/p>\n\n\n\n

However, unlike in the U.S., where ether ETFs have not yet been approved, Hong Kong might take the lead in this area as well. The city's market regulator, the Securities and Futures Commission (SFC), has not commented on the developments. Similarly, inquiries to Harvest Global Investments, Bosera Asset Management, HashKey Capital, and HKEX received no immediate response.<\/p>\n\n\n\n

See Related: <\/em><\/strong>Hong Kong Invests Over $6.4M Into Web 3 Development<\/a><\/p>\n\n\n\n

Ether ETF Update<\/h2>\n\n\n\n

The U.S. Securities and Exchange Commission (SEC) has once again delayed its decision on the application for an Ether ETF. A new deadline is set for May 23<\/a>.<\/p>\n\n\n\n

Despite this, analysts remain cautiously optimistic, estimating a 60% chance<\/a> of eventual approval. These delays and the ongoing review process indicate that the SEC is maintaining a cautious approach towards the approval of Ether ETFs. It reflects the complexities involved in integrating such products into the financial system.<\/p>\n","post_title":"Hong Kong Set to Approve Bitcoin And Ether ETFs By Monday","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"hong-kong-set-to-approve-bitcoin-and-ether-etfs-by-monday","to_ping":"","pinged":"","post_modified":"2024-04-15 03:53:05","post_modified_gmt":"2024-04-14 17:53:05","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16362","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":16347,"post_author":"15","post_date":"2024-04-14 00:03:48","post_date_gmt":"2024-04-13 14:03:48","post_content":"\n

Bitfinex Securities El Salvador is initiating a tokenized debt offering to fund the development of a Hampton by Hilton hotel complex spanning 4,484 square meters at El Salvador International Airport.<\/p>\n\n\n\n

In January, Bitfinex Securities<\/a> became the inaugural regulated entity to obtain a license to operate in El Salvador under the country\u2019s newly enacted Digital Asset Securities Law. This move anticipated a surge in demand for regulated investment vehicles, following the successful introduction of U.S. spot bitcoin exchange-traded funds.<\/p>\n\n\n\n

At the time, the tokenized securities platform announced its acceptance of customer applications and outlined a pipeline of potential financial asset issuances projected to launch in the year's first half.<\/p>\n\n\n\n

The tokenized debt, issued by El Salvadoran firm Inversiones Laguardia S.A. de C.V., is poised to be the inaugural token to trade on the platform. Utilizing the Liquid Network, a Bitcoin sidechain, the token will be denoted as HILSV and traded against U.S. dollars and Tether\u2019s USDT stablecoin.<\/p>\n\n\n\n

See Related: <\/em><\/strong>El Salvador Businesses Barely Impacted By Bitcoins Legality<\/a><\/p>\n\n\n\n

El Salvador Leads The Way<\/h2>\n\n\n\n


El Salvador stands at the forefront of cryptocurrency adoption wherein Bitcoin is recognized as legal tender. Since June 2021, it has been the first country to embrace Bitcoin alongside the US dollar for everyday transactions, making significant strides in the global crypto landscape. <\/p>\n\n\n\n

Under President Nayib Bukele, the government has initiated a groundbreaking project, where the state purchases one Bitcoin daily to bolster its reserves. <\/p>\n","post_title":"Bitfinex Securities Launches Tokenized Debt Offering For A Hotel In El Salvador","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"bitfinex-securities-launches-tokenized-debt-offering-for-a-hotel-in-el-salvador","to_ping":"","pinged":"","post_modified":"2024-04-14 00:03:52","post_modified_gmt":"2024-04-13 14:03:52","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16347","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 … 4 5 6 7 8 … 20

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

Elliptic, a blockchain analysis firm, released a study <\/a>conducted with the MIT-IBM Watson AI Lab on Wednesday. This study utilized a deep learning AI model to identify money laundering patterns within Bitcoin transactions and pinpoint wallets involved in criminal activities.<\/p>\n\n\n\n

Bitcoin's use of a decentralized public ledger, a fundamental aspect of the technology, facilitated the research, according to Elliptic. The collaboration between Elliptic and MIT-IBM leveraged AI to distinguish between legal and illegal transactions, tracking connections within the latter to expose potential money laundering activities.<\/p>\n\n\n\n

Elliptic stated, \u201cBlockchains provide fertile ground for machine learning techniques, thanks to the availability of both transaction data and information on the types of entities that are transacting, collected by us and others. This is in contrast to traditional finance where transaction data is typically siloed, making it challenging to apply these techniques.\u201d<\/em><\/p>\n\n\n\n

Elliptic clarified that instead of directly identifying transactions by illicit actors, the machine learning model is trained to recognize 'subgraphs'\u2014sequences of transactions that depict the laundering of Bitcoin. This method focuses more broadly on the multi-step laundering process rather than specific illegal actions on the blockchain.<\/p>\n\n\n\n

See Related:<\/em><\/strong> Binance's $3.9 Billion USDT Transfer Sparks Speculation Amidst CEO's Guilty Plea<\/a><\/p>\n\n\n\n

Money Laundering in 2024 Reports<\/h2>\n\n\n\n

In 2023, the volume of cryptocurrency involved in money laundering activities decreased significantly, with centralized exchanges continuing as the primary channels for such transactions. DeFi protocols and gambling services saw an uptick in use for laundering, yet they generally lack the anonymity preferred by launderers.<\/p>\n\n\n\n

Sophisticated criminals, particularly North Korea's Lazarus Group, adapted to law enforcement tactics by employing new mixers and utilizing cross-chain bridges to launder funds. These methods allow them to obfuscate the origins of illicit funds more effectively across multiple blockchain platforms, demonstrating a dynamic shift in the techniques used by high-level criminal enterprises to evade detection.<\/p>\n","post_title":"AI Powers New Tool To Detect Illegal Bitcoin Transactions, Study Shows","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"ai-powers-new-tool-to-detect-illegal-bitcoin-transactions-study-shows","to_ping":"","pinged":"","post_modified":"2024-05-04 02:07:20","post_modified_gmt":"2024-05-03 16:07:20","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16722","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":16491,"post_author":"15","post_date":"2024-04-21 10:09:53","post_date_gmt":"2024-04-21 00:09:53","post_content":"\n

Entrepreneur and Dallas Mavericks owner Mark Cuban recently discussed the implications of the upcoming Bitcoin halving. He emphasized its significant impact on miner revenues.<\/p>\n\n\n\n

During an interview <\/a>with The Block, Cuban pointed out that the halving will reduce mining rewards from 6.25 BTC to 3.125 BTC, effectively slashing the income for bitcoin miners by nearly half. However, Cuban expressed greater curiosity about the role artificial intelligence (AI) might play in the mining sector, especially concerning the demand for GPUs.<\/p>\n\n\n\n

Cuban highlighted the intense competition between AI's needs for GPUs and cryptocurrency mining's demands. He questioned whether the economic landscape of mining could be altered by the booming AI industry, asking if it might be more profitable to utilize GPUs for AI model training rather than mining. This issue primarily affects miners using GPUs for cryptocurrencies other than Bitcoin, which typically relies on ASIC machines.<\/p>\n\n\n\n

The intersection of AI and cryptocurrency mining is already seeing practical applications, with companies like Xive and Hive Digital Technologies expanding into AI to bolster their primary mining operations. <\/p>\n\n\n\n

See Related:<\/em><\/strong> Cryptocurrency Statistics And Insights (2022)<\/a><\/p>\n\n\n\n

Bitcoin Halving is Coming<\/h2>\n\n\n\n

Bitcoin halving is a significant event in the cryptocurrency world that occurs approximately every four years, or after 210,000 blocks are mined. During a halving, bitcoin miners' reward for verifying transactions and adding them to the blockchain is reduced by half. This mechanism was designed by Satoshi Nakamoto, the anonymous creator of Bitcoin, to control inflation by limiting the total number of bitcoins that can ever be in circulation to 21 million.<\/p>\n\n\n\n

As of writing, the price of Bitcoin is at $63,760, and 2 blocks remaining until the next Bitcoin halving.<\/p>\n","post_title":"Bitcoin Halving To Slash Miner Earnings, Cuban Eyes AI Shift","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"bitcoin-halving-to-slash-miner-earnings-cuban-eyes-ai-shift","to_ping":"","pinged":"","post_modified":"2024-04-21 10:10:00","post_modified_gmt":"2024-04-21 00:10:00","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16491","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":16460,"post_author":"15","post_date":"2024-04-19 23:38:06","post_date_gmt":"2024-04-19 13:38:06","post_content":"\n

Binance, the leading global cryptocurrency exchange, is set to make a comeback in India after agreeing to pay a $2 million penalty. This development follows a period of stringent regulatory scrutiny where the Indian government blocked nine cryptocurrency websites. They also prompted the removal of related apps from Apple and Google stores due to non-compliance with local laws. <\/p>\n\n\n\n

According to the Economic Times<\/a>, sources close to the matter indicate that Binance is restructuring its operations in South Asia. The cryptocurrency exchange is planning to fully comply with the Financial Intelligence Unit of India, which regulates the local trading of digital assets.<\/p>\n\n\n\n

The move comes as part of Binance's efforts to align with India's financial regulations, including adherence to anti-money laundering and taxation statutes. Before the crackdown, Binance held a commanding presence in the Indian market, with an estimated 90% of crypto holdings among Indian investors, totaling about $4 billion.<\/p>\n\n\n\n

See Related:<\/em><\/strong> Indian Parliament Passes A 30% Crypto Tax Law<\/a><\/p>\n\n\n\n

Nigeria Detains Binance Executives<\/h2>\n\n\n\n

Two months ago, Nigeria detained two executives of the Binance after they flew into the country. The country's Office of the National Security Adviser detained the two, and their passports were seized. <\/p>\n\n\n\n

Nigerian officials have leveled several charges against the cryptocurrency exchange Binance. The allegation includes exploiting the local economy, contributing to the devaluation of the Nigerian naira, and engaging in money laundering activities. They allege that Binance has been involved in manipulating the exchange rates by engaging in speculative actions and fixing rates. Furthermore, the Nigerian government has expressed concerns over $26 billion in transactions carried out on Binance's platform, which they report as being untraceable.<\/p>\n\n\n\n

Binance has denied any wrongdoing, but this is not the first time it has bumped heads with regulators.<\/p>\n","post_title":"Binance Set To Re-enter Indian Market with $2 Million Fine Settlement","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"binance-set-to-re-enter-indian-market-with-2-million-fine-settlement","to_ping":"","pinged":"","post_modified":"2024-04-20 04:11:08","post_modified_gmt":"2024-04-19 18:11:08","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16460","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":16362,"post_author":"15","post_date":"2024-04-15 03:52:59","post_date_gmt":"2024-04-14 17:52:59","post_content":"\n

Hong Kong is on the brink of approving spot exchange-traded funds (ETFs) for bitcoin and ether, potentially by Monday, Bloomberg reports<\/a>. This anticipated approval is poised to influence the cryptocurrency markets in the near term. The ETFs, if launched, will enable investors to trade bitcoin and ether on regulated platforms, enhancing the legitimacy and stability of investing in cryptocurrencies.<\/p>\n\n\n\n

Bloomberg\u2019s sources suggest that if the Hong Kong Exchanges & Clearing can finalize the listing details promptly, trading could commence by the end of April. Harvest Global Investments and Bosera Asset Management, in collaboration with HashKey Capital, are frontrunners in receiving the first approvals for these spot cryptocurrency ETFs. This move could cement Hong Kong's position as a major hub for digital assets in Asia, particularly if it leads to a successful market response similar to the U.S., where the approval of bitcoin ETFs in January triggered a price rally, pushing bitcoin\u2019s value to $73,000.<\/p>\n\n\n\n

However, unlike in the U.S., where ether ETFs have not yet been approved, Hong Kong might take the lead in this area as well. The city's market regulator, the Securities and Futures Commission (SFC), has not commented on the developments. Similarly, inquiries to Harvest Global Investments, Bosera Asset Management, HashKey Capital, and HKEX received no immediate response.<\/p>\n\n\n\n

See Related: <\/em><\/strong>Hong Kong Invests Over $6.4M Into Web 3 Development<\/a><\/p>\n\n\n\n

Ether ETF Update<\/h2>\n\n\n\n

The U.S. Securities and Exchange Commission (SEC) has once again delayed its decision on the application for an Ether ETF. A new deadline is set for May 23<\/a>.<\/p>\n\n\n\n

Despite this, analysts remain cautiously optimistic, estimating a 60% chance<\/a> of eventual approval. These delays and the ongoing review process indicate that the SEC is maintaining a cautious approach towards the approval of Ether ETFs. It reflects the complexities involved in integrating such products into the financial system.<\/p>\n","post_title":"Hong Kong Set to Approve Bitcoin And Ether ETFs By Monday","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"hong-kong-set-to-approve-bitcoin-and-ether-etfs-by-monday","to_ping":"","pinged":"","post_modified":"2024-04-15 03:53:05","post_modified_gmt":"2024-04-14 17:53:05","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16362","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":16347,"post_author":"15","post_date":"2024-04-14 00:03:48","post_date_gmt":"2024-04-13 14:03:48","post_content":"\n

Bitfinex Securities El Salvador is initiating a tokenized debt offering to fund the development of a Hampton by Hilton hotel complex spanning 4,484 square meters at El Salvador International Airport.<\/p>\n\n\n\n

In January, Bitfinex Securities<\/a> became the inaugural regulated entity to obtain a license to operate in El Salvador under the country\u2019s newly enacted Digital Asset Securities Law. This move anticipated a surge in demand for regulated investment vehicles, following the successful introduction of U.S. spot bitcoin exchange-traded funds.<\/p>\n\n\n\n

At the time, the tokenized securities platform announced its acceptance of customer applications and outlined a pipeline of potential financial asset issuances projected to launch in the year's first half.<\/p>\n\n\n\n

The tokenized debt, issued by El Salvadoran firm Inversiones Laguardia S.A. de C.V., is poised to be the inaugural token to trade on the platform. Utilizing the Liquid Network, a Bitcoin sidechain, the token will be denoted as HILSV and traded against U.S. dollars and Tether\u2019s USDT stablecoin.<\/p>\n\n\n\n

See Related: <\/em><\/strong>El Salvador Businesses Barely Impacted By Bitcoins Legality<\/a><\/p>\n\n\n\n

El Salvador Leads The Way<\/h2>\n\n\n\n


El Salvador stands at the forefront of cryptocurrency adoption wherein Bitcoin is recognized as legal tender. Since June 2021, it has been the first country to embrace Bitcoin alongside the US dollar for everyday transactions, making significant strides in the global crypto landscape. <\/p>\n\n\n\n

Under President Nayib Bukele, the government has initiated a groundbreaking project, where the state purchases one Bitcoin daily to bolster its reserves. <\/p>\n","post_title":"Bitfinex Securities Launches Tokenized Debt Offering For A Hotel In El Salvador","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"bitfinex-securities-launches-tokenized-debt-offering-for-a-hotel-in-el-salvador","to_ping":"","pinged":"","post_modified":"2024-04-14 00:03:52","post_modified_gmt":"2024-04-13 14:03:52","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16347","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 … 4 5 6 7 8 … 20

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

The trading started last April 30 and shows $12 million in trading volume on its first day. Bitcoin spot ETF recorded a $8.5 million and Ethereum spot ETF $2.5 million in trading volume. <\/p>\n","post_title":"Grayscale Bitcoin Trust Rebounds With $63 Million Influx After 80-Day Drought","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"grayscale-bitcoin-trust-rebounds-with-63-million-influx-after-80-day-drought","to_ping":"","pinged":"","post_modified":"2024-05-06 23:24:54","post_modified_gmt":"2024-05-06 13:24:54","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16761","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":16722,"post_author":"15","post_date":"2024-05-04 02:07:14","post_date_gmt":"2024-05-03 16:07:14","post_content":"\n

Elliptic, a blockchain analysis firm, released a study <\/a>conducted with the MIT-IBM Watson AI Lab on Wednesday. This study utilized a deep learning AI model to identify money laundering patterns within Bitcoin transactions and pinpoint wallets involved in criminal activities.<\/p>\n\n\n\n

Bitcoin's use of a decentralized public ledger, a fundamental aspect of the technology, facilitated the research, according to Elliptic. The collaboration between Elliptic and MIT-IBM leveraged AI to distinguish between legal and illegal transactions, tracking connections within the latter to expose potential money laundering activities.<\/p>\n\n\n\n

Elliptic stated, \u201cBlockchains provide fertile ground for machine learning techniques, thanks to the availability of both transaction data and information on the types of entities that are transacting, collected by us and others. This is in contrast to traditional finance where transaction data is typically siloed, making it challenging to apply these techniques.\u201d<\/em><\/p>\n\n\n\n

Elliptic clarified that instead of directly identifying transactions by illicit actors, the machine learning model is trained to recognize 'subgraphs'\u2014sequences of transactions that depict the laundering of Bitcoin. This method focuses more broadly on the multi-step laundering process rather than specific illegal actions on the blockchain.<\/p>\n\n\n\n

See Related:<\/em><\/strong> Binance's $3.9 Billion USDT Transfer Sparks Speculation Amidst CEO's Guilty Plea<\/a><\/p>\n\n\n\n

Money Laundering in 2024 Reports<\/h2>\n\n\n\n

In 2023, the volume of cryptocurrency involved in money laundering activities decreased significantly, with centralized exchanges continuing as the primary channels for such transactions. DeFi protocols and gambling services saw an uptick in use for laundering, yet they generally lack the anonymity preferred by launderers.<\/p>\n\n\n\n

Sophisticated criminals, particularly North Korea's Lazarus Group, adapted to law enforcement tactics by employing new mixers and utilizing cross-chain bridges to launder funds. These methods allow them to obfuscate the origins of illicit funds more effectively across multiple blockchain platforms, demonstrating a dynamic shift in the techniques used by high-level criminal enterprises to evade detection.<\/p>\n","post_title":"AI Powers New Tool To Detect Illegal Bitcoin Transactions, Study Shows","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"ai-powers-new-tool-to-detect-illegal-bitcoin-transactions-study-shows","to_ping":"","pinged":"","post_modified":"2024-05-04 02:07:20","post_modified_gmt":"2024-05-03 16:07:20","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16722","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":16491,"post_author":"15","post_date":"2024-04-21 10:09:53","post_date_gmt":"2024-04-21 00:09:53","post_content":"\n

Entrepreneur and Dallas Mavericks owner Mark Cuban recently discussed the implications of the upcoming Bitcoin halving. He emphasized its significant impact on miner revenues.<\/p>\n\n\n\n

During an interview <\/a>with The Block, Cuban pointed out that the halving will reduce mining rewards from 6.25 BTC to 3.125 BTC, effectively slashing the income for bitcoin miners by nearly half. However, Cuban expressed greater curiosity about the role artificial intelligence (AI) might play in the mining sector, especially concerning the demand for GPUs.<\/p>\n\n\n\n

Cuban highlighted the intense competition between AI's needs for GPUs and cryptocurrency mining's demands. He questioned whether the economic landscape of mining could be altered by the booming AI industry, asking if it might be more profitable to utilize GPUs for AI model training rather than mining. This issue primarily affects miners using GPUs for cryptocurrencies other than Bitcoin, which typically relies on ASIC machines.<\/p>\n\n\n\n

The intersection of AI and cryptocurrency mining is already seeing practical applications, with companies like Xive and Hive Digital Technologies expanding into AI to bolster their primary mining operations. <\/p>\n\n\n\n

See Related:<\/em><\/strong> Cryptocurrency Statistics And Insights (2022)<\/a><\/p>\n\n\n\n

Bitcoin Halving is Coming<\/h2>\n\n\n\n

Bitcoin halving is a significant event in the cryptocurrency world that occurs approximately every four years, or after 210,000 blocks are mined. During a halving, bitcoin miners' reward for verifying transactions and adding them to the blockchain is reduced by half. This mechanism was designed by Satoshi Nakamoto, the anonymous creator of Bitcoin, to control inflation by limiting the total number of bitcoins that can ever be in circulation to 21 million.<\/p>\n\n\n\n

As of writing, the price of Bitcoin is at $63,760, and 2 blocks remaining until the next Bitcoin halving.<\/p>\n","post_title":"Bitcoin Halving To Slash Miner Earnings, Cuban Eyes AI Shift","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"bitcoin-halving-to-slash-miner-earnings-cuban-eyes-ai-shift","to_ping":"","pinged":"","post_modified":"2024-04-21 10:10:00","post_modified_gmt":"2024-04-21 00:10:00","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16491","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":16460,"post_author":"15","post_date":"2024-04-19 23:38:06","post_date_gmt":"2024-04-19 13:38:06","post_content":"\n

Binance, the leading global cryptocurrency exchange, is set to make a comeback in India after agreeing to pay a $2 million penalty. This development follows a period of stringent regulatory scrutiny where the Indian government blocked nine cryptocurrency websites. They also prompted the removal of related apps from Apple and Google stores due to non-compliance with local laws. <\/p>\n\n\n\n

According to the Economic Times<\/a>, sources close to the matter indicate that Binance is restructuring its operations in South Asia. The cryptocurrency exchange is planning to fully comply with the Financial Intelligence Unit of India, which regulates the local trading of digital assets.<\/p>\n\n\n\n

The move comes as part of Binance's efforts to align with India's financial regulations, including adherence to anti-money laundering and taxation statutes. Before the crackdown, Binance held a commanding presence in the Indian market, with an estimated 90% of crypto holdings among Indian investors, totaling about $4 billion.<\/p>\n\n\n\n

See Related:<\/em><\/strong> Indian Parliament Passes A 30% Crypto Tax Law<\/a><\/p>\n\n\n\n

Nigeria Detains Binance Executives<\/h2>\n\n\n\n

Two months ago, Nigeria detained two executives of the Binance after they flew into the country. The country's Office of the National Security Adviser detained the two, and their passports were seized. <\/p>\n\n\n\n

Nigerian officials have leveled several charges against the cryptocurrency exchange Binance. The allegation includes exploiting the local economy, contributing to the devaluation of the Nigerian naira, and engaging in money laundering activities. They allege that Binance has been involved in manipulating the exchange rates by engaging in speculative actions and fixing rates. Furthermore, the Nigerian government has expressed concerns over $26 billion in transactions carried out on Binance's platform, which they report as being untraceable.<\/p>\n\n\n\n

Binance has denied any wrongdoing, but this is not the first time it has bumped heads with regulators.<\/p>\n","post_title":"Binance Set To Re-enter Indian Market with $2 Million Fine Settlement","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"binance-set-to-re-enter-indian-market-with-2-million-fine-settlement","to_ping":"","pinged":"","post_modified":"2024-04-20 04:11:08","post_modified_gmt":"2024-04-19 18:11:08","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16460","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":16362,"post_author":"15","post_date":"2024-04-15 03:52:59","post_date_gmt":"2024-04-14 17:52:59","post_content":"\n

Hong Kong is on the brink of approving spot exchange-traded funds (ETFs) for bitcoin and ether, potentially by Monday, Bloomberg reports<\/a>. This anticipated approval is poised to influence the cryptocurrency markets in the near term. The ETFs, if launched, will enable investors to trade bitcoin and ether on regulated platforms, enhancing the legitimacy and stability of investing in cryptocurrencies.<\/p>\n\n\n\n

Bloomberg\u2019s sources suggest that if the Hong Kong Exchanges & Clearing can finalize the listing details promptly, trading could commence by the end of April. Harvest Global Investments and Bosera Asset Management, in collaboration with HashKey Capital, are frontrunners in receiving the first approvals for these spot cryptocurrency ETFs. This move could cement Hong Kong's position as a major hub for digital assets in Asia, particularly if it leads to a successful market response similar to the U.S., where the approval of bitcoin ETFs in January triggered a price rally, pushing bitcoin\u2019s value to $73,000.<\/p>\n\n\n\n

However, unlike in the U.S., where ether ETFs have not yet been approved, Hong Kong might take the lead in this area as well. The city's market regulator, the Securities and Futures Commission (SFC), has not commented on the developments. Similarly, inquiries to Harvest Global Investments, Bosera Asset Management, HashKey Capital, and HKEX received no immediate response.<\/p>\n\n\n\n

See Related: <\/em><\/strong>Hong Kong Invests Over $6.4M Into Web 3 Development<\/a><\/p>\n\n\n\n

Ether ETF Update<\/h2>\n\n\n\n

The U.S. Securities and Exchange Commission (SEC) has once again delayed its decision on the application for an Ether ETF. A new deadline is set for May 23<\/a>.<\/p>\n\n\n\n

Despite this, analysts remain cautiously optimistic, estimating a 60% chance<\/a> of eventual approval. These delays and the ongoing review process indicate that the SEC is maintaining a cautious approach towards the approval of Ether ETFs. It reflects the complexities involved in integrating such products into the financial system.<\/p>\n","post_title":"Hong Kong Set to Approve Bitcoin And Ether ETFs By Monday","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"hong-kong-set-to-approve-bitcoin-and-ether-etfs-by-monday","to_ping":"","pinged":"","post_modified":"2024-04-15 03:53:05","post_modified_gmt":"2024-04-14 17:53:05","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16362","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":16347,"post_author":"15","post_date":"2024-04-14 00:03:48","post_date_gmt":"2024-04-13 14:03:48","post_content":"\n

Bitfinex Securities El Salvador is initiating a tokenized debt offering to fund the development of a Hampton by Hilton hotel complex spanning 4,484 square meters at El Salvador International Airport.<\/p>\n\n\n\n

In January, Bitfinex Securities<\/a> became the inaugural regulated entity to obtain a license to operate in El Salvador under the country\u2019s newly enacted Digital Asset Securities Law. This move anticipated a surge in demand for regulated investment vehicles, following the successful introduction of U.S. spot bitcoin exchange-traded funds.<\/p>\n\n\n\n

At the time, the tokenized securities platform announced its acceptance of customer applications and outlined a pipeline of potential financial asset issuances projected to launch in the year's first half.<\/p>\n\n\n\n

The tokenized debt, issued by El Salvadoran firm Inversiones Laguardia S.A. de C.V., is poised to be the inaugural token to trade on the platform. Utilizing the Liquid Network, a Bitcoin sidechain, the token will be denoted as HILSV and traded against U.S. dollars and Tether\u2019s USDT stablecoin.<\/p>\n\n\n\n

See Related: <\/em><\/strong>El Salvador Businesses Barely Impacted By Bitcoins Legality<\/a><\/p>\n\n\n\n

El Salvador Leads The Way<\/h2>\n\n\n\n


El Salvador stands at the forefront of cryptocurrency adoption wherein Bitcoin is recognized as legal tender. Since June 2021, it has been the first country to embrace Bitcoin alongside the US dollar for everyday transactions, making significant strides in the global crypto landscape. <\/p>\n\n\n\n

Under President Nayib Bukele, the government has initiated a groundbreaking project, where the state purchases one Bitcoin daily to bolster its reserves. <\/p>\n","post_title":"Bitfinex Securities Launches Tokenized Debt Offering For A Hotel In El Salvador","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"bitfinex-securities-launches-tokenized-debt-offering-for-a-hotel-in-el-salvador","to_ping":"","pinged":"","post_modified":"2024-04-14 00:03:52","post_modified_gmt":"2024-04-13 14:03:52","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16347","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 … 4 5 6 7 8 … 20

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

Hong Kong has recently made strides in the cryptocurrency market with the introduction of spot exchange-traded funds (ETFs) for Bitcoin and Ethereum. This development reflects Hong Kong's growing embrace of digital currencies and its ambition to become a major hub for cryptocurrency trading and finance. <\/p>\n\n\n\n

The trading started last April 30 and shows $12 million in trading volume on its first day. Bitcoin spot ETF recorded a $8.5 million and Ethereum spot ETF $2.5 million in trading volume. <\/p>\n","post_title":"Grayscale Bitcoin Trust Rebounds With $63 Million Influx After 80-Day Drought","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"grayscale-bitcoin-trust-rebounds-with-63-million-influx-after-80-day-drought","to_ping":"","pinged":"","post_modified":"2024-05-06 23:24:54","post_modified_gmt":"2024-05-06 13:24:54","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16761","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":16722,"post_author":"15","post_date":"2024-05-04 02:07:14","post_date_gmt":"2024-05-03 16:07:14","post_content":"\n

Elliptic, a blockchain analysis firm, released a study <\/a>conducted with the MIT-IBM Watson AI Lab on Wednesday. This study utilized a deep learning AI model to identify money laundering patterns within Bitcoin transactions and pinpoint wallets involved in criminal activities.<\/p>\n\n\n\n

Bitcoin's use of a decentralized public ledger, a fundamental aspect of the technology, facilitated the research, according to Elliptic. The collaboration between Elliptic and MIT-IBM leveraged AI to distinguish between legal and illegal transactions, tracking connections within the latter to expose potential money laundering activities.<\/p>\n\n\n\n

Elliptic stated, \u201cBlockchains provide fertile ground for machine learning techniques, thanks to the availability of both transaction data and information on the types of entities that are transacting, collected by us and others. This is in contrast to traditional finance where transaction data is typically siloed, making it challenging to apply these techniques.\u201d<\/em><\/p>\n\n\n\n

Elliptic clarified that instead of directly identifying transactions by illicit actors, the machine learning model is trained to recognize 'subgraphs'\u2014sequences of transactions that depict the laundering of Bitcoin. This method focuses more broadly on the multi-step laundering process rather than specific illegal actions on the blockchain.<\/p>\n\n\n\n

See Related:<\/em><\/strong> Binance's $3.9 Billion USDT Transfer Sparks Speculation Amidst CEO's Guilty Plea<\/a><\/p>\n\n\n\n

Money Laundering in 2024 Reports<\/h2>\n\n\n\n

In 2023, the volume of cryptocurrency involved in money laundering activities decreased significantly, with centralized exchanges continuing as the primary channels for such transactions. DeFi protocols and gambling services saw an uptick in use for laundering, yet they generally lack the anonymity preferred by launderers.<\/p>\n\n\n\n

Sophisticated criminals, particularly North Korea's Lazarus Group, adapted to law enforcement tactics by employing new mixers and utilizing cross-chain bridges to launder funds. These methods allow them to obfuscate the origins of illicit funds more effectively across multiple blockchain platforms, demonstrating a dynamic shift in the techniques used by high-level criminal enterprises to evade detection.<\/p>\n","post_title":"AI Powers New Tool To Detect Illegal Bitcoin Transactions, Study Shows","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"ai-powers-new-tool-to-detect-illegal-bitcoin-transactions-study-shows","to_ping":"","pinged":"","post_modified":"2024-05-04 02:07:20","post_modified_gmt":"2024-05-03 16:07:20","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16722","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":16491,"post_author":"15","post_date":"2024-04-21 10:09:53","post_date_gmt":"2024-04-21 00:09:53","post_content":"\n

Entrepreneur and Dallas Mavericks owner Mark Cuban recently discussed the implications of the upcoming Bitcoin halving. He emphasized its significant impact on miner revenues.<\/p>\n\n\n\n

During an interview <\/a>with The Block, Cuban pointed out that the halving will reduce mining rewards from 6.25 BTC to 3.125 BTC, effectively slashing the income for bitcoin miners by nearly half. However, Cuban expressed greater curiosity about the role artificial intelligence (AI) might play in the mining sector, especially concerning the demand for GPUs.<\/p>\n\n\n\n

Cuban highlighted the intense competition between AI's needs for GPUs and cryptocurrency mining's demands. He questioned whether the economic landscape of mining could be altered by the booming AI industry, asking if it might be more profitable to utilize GPUs for AI model training rather than mining. This issue primarily affects miners using GPUs for cryptocurrencies other than Bitcoin, which typically relies on ASIC machines.<\/p>\n\n\n\n

The intersection of AI and cryptocurrency mining is already seeing practical applications, with companies like Xive and Hive Digital Technologies expanding into AI to bolster their primary mining operations. <\/p>\n\n\n\n

See Related:<\/em><\/strong> Cryptocurrency Statistics And Insights (2022)<\/a><\/p>\n\n\n\n

Bitcoin Halving is Coming<\/h2>\n\n\n\n

Bitcoin halving is a significant event in the cryptocurrency world that occurs approximately every four years, or after 210,000 blocks are mined. During a halving, bitcoin miners' reward for verifying transactions and adding them to the blockchain is reduced by half. This mechanism was designed by Satoshi Nakamoto, the anonymous creator of Bitcoin, to control inflation by limiting the total number of bitcoins that can ever be in circulation to 21 million.<\/p>\n\n\n\n

As of writing, the price of Bitcoin is at $63,760, and 2 blocks remaining until the next Bitcoin halving.<\/p>\n","post_title":"Bitcoin Halving To Slash Miner Earnings, Cuban Eyes AI Shift","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"bitcoin-halving-to-slash-miner-earnings-cuban-eyes-ai-shift","to_ping":"","pinged":"","post_modified":"2024-04-21 10:10:00","post_modified_gmt":"2024-04-21 00:10:00","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16491","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":16460,"post_author":"15","post_date":"2024-04-19 23:38:06","post_date_gmt":"2024-04-19 13:38:06","post_content":"\n

Binance, the leading global cryptocurrency exchange, is set to make a comeback in India after agreeing to pay a $2 million penalty. This development follows a period of stringent regulatory scrutiny where the Indian government blocked nine cryptocurrency websites. They also prompted the removal of related apps from Apple and Google stores due to non-compliance with local laws. <\/p>\n\n\n\n

According to the Economic Times<\/a>, sources close to the matter indicate that Binance is restructuring its operations in South Asia. The cryptocurrency exchange is planning to fully comply with the Financial Intelligence Unit of India, which regulates the local trading of digital assets.<\/p>\n\n\n\n

The move comes as part of Binance's efforts to align with India's financial regulations, including adherence to anti-money laundering and taxation statutes. Before the crackdown, Binance held a commanding presence in the Indian market, with an estimated 90% of crypto holdings among Indian investors, totaling about $4 billion.<\/p>\n\n\n\n

See Related:<\/em><\/strong> Indian Parliament Passes A 30% Crypto Tax Law<\/a><\/p>\n\n\n\n

Nigeria Detains Binance Executives<\/h2>\n\n\n\n

Two months ago, Nigeria detained two executives of the Binance after they flew into the country. The country's Office of the National Security Adviser detained the two, and their passports were seized. <\/p>\n\n\n\n

Nigerian officials have leveled several charges against the cryptocurrency exchange Binance. The allegation includes exploiting the local economy, contributing to the devaluation of the Nigerian naira, and engaging in money laundering activities. They allege that Binance has been involved in manipulating the exchange rates by engaging in speculative actions and fixing rates. Furthermore, the Nigerian government has expressed concerns over $26 billion in transactions carried out on Binance's platform, which they report as being untraceable.<\/p>\n\n\n\n

Binance has denied any wrongdoing, but this is not the first time it has bumped heads with regulators.<\/p>\n","post_title":"Binance Set To Re-enter Indian Market with $2 Million Fine Settlement","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"binance-set-to-re-enter-indian-market-with-2-million-fine-settlement","to_ping":"","pinged":"","post_modified":"2024-04-20 04:11:08","post_modified_gmt":"2024-04-19 18:11:08","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16460","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":16362,"post_author":"15","post_date":"2024-04-15 03:52:59","post_date_gmt":"2024-04-14 17:52:59","post_content":"\n

Hong Kong is on the brink of approving spot exchange-traded funds (ETFs) for bitcoin and ether, potentially by Monday, Bloomberg reports<\/a>. This anticipated approval is poised to influence the cryptocurrency markets in the near term. The ETFs, if launched, will enable investors to trade bitcoin and ether on regulated platforms, enhancing the legitimacy and stability of investing in cryptocurrencies.<\/p>\n\n\n\n

Bloomberg\u2019s sources suggest that if the Hong Kong Exchanges & Clearing can finalize the listing details promptly, trading could commence by the end of April. Harvest Global Investments and Bosera Asset Management, in collaboration with HashKey Capital, are frontrunners in receiving the first approvals for these spot cryptocurrency ETFs. This move could cement Hong Kong's position as a major hub for digital assets in Asia, particularly if it leads to a successful market response similar to the U.S., where the approval of bitcoin ETFs in January triggered a price rally, pushing bitcoin\u2019s value to $73,000.<\/p>\n\n\n\n

However, unlike in the U.S., where ether ETFs have not yet been approved, Hong Kong might take the lead in this area as well. The city's market regulator, the Securities and Futures Commission (SFC), has not commented on the developments. Similarly, inquiries to Harvest Global Investments, Bosera Asset Management, HashKey Capital, and HKEX received no immediate response.<\/p>\n\n\n\n

See Related: <\/em><\/strong>Hong Kong Invests Over $6.4M Into Web 3 Development<\/a><\/p>\n\n\n\n

Ether ETF Update<\/h2>\n\n\n\n

The U.S. Securities and Exchange Commission (SEC) has once again delayed its decision on the application for an Ether ETF. A new deadline is set for May 23<\/a>.<\/p>\n\n\n\n

Despite this, analysts remain cautiously optimistic, estimating a 60% chance<\/a> of eventual approval. These delays and the ongoing review process indicate that the SEC is maintaining a cautious approach towards the approval of Ether ETFs. It reflects the complexities involved in integrating such products into the financial system.<\/p>\n","post_title":"Hong Kong Set to Approve Bitcoin And Ether ETFs By Monday","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"hong-kong-set-to-approve-bitcoin-and-ether-etfs-by-monday","to_ping":"","pinged":"","post_modified":"2024-04-15 03:53:05","post_modified_gmt":"2024-04-14 17:53:05","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16362","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":16347,"post_author":"15","post_date":"2024-04-14 00:03:48","post_date_gmt":"2024-04-13 14:03:48","post_content":"\n

Bitfinex Securities El Salvador is initiating a tokenized debt offering to fund the development of a Hampton by Hilton hotel complex spanning 4,484 square meters at El Salvador International Airport.<\/p>\n\n\n\n

In January, Bitfinex Securities<\/a> became the inaugural regulated entity to obtain a license to operate in El Salvador under the country\u2019s newly enacted Digital Asset Securities Law. This move anticipated a surge in demand for regulated investment vehicles, following the successful introduction of U.S. spot bitcoin exchange-traded funds.<\/p>\n\n\n\n

At the time, the tokenized securities platform announced its acceptance of customer applications and outlined a pipeline of potential financial asset issuances projected to launch in the year's first half.<\/p>\n\n\n\n

The tokenized debt, issued by El Salvadoran firm Inversiones Laguardia S.A. de C.V., is poised to be the inaugural token to trade on the platform. Utilizing the Liquid Network, a Bitcoin sidechain, the token will be denoted as HILSV and traded against U.S. dollars and Tether\u2019s USDT stablecoin.<\/p>\n\n\n\n

See Related: <\/em><\/strong>El Salvador Businesses Barely Impacted By Bitcoins Legality<\/a><\/p>\n\n\n\n

El Salvador Leads The Way<\/h2>\n\n\n\n


El Salvador stands at the forefront of cryptocurrency adoption wherein Bitcoin is recognized as legal tender. Since June 2021, it has been the first country to embrace Bitcoin alongside the US dollar for everyday transactions, making significant strides in the global crypto landscape. <\/p>\n\n\n\n

Under President Nayib Bukele, the government has initiated a groundbreaking project, where the state purchases one Bitcoin daily to bolster its reserves. <\/p>\n","post_title":"Bitfinex Securities Launches Tokenized Debt Offering For A Hotel In El Salvador","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"bitfinex-securities-launches-tokenized-debt-offering-for-a-hotel-in-el-salvador","to_ping":"","pinged":"","post_modified":"2024-04-14 00:03:52","post_modified_gmt":"2024-04-13 14:03:52","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16347","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 … 4 5 6 7 8 … 20

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

Bitcoin ETF in Asia<\/h2>\n\n\n\n

Hong Kong has recently made strides in the cryptocurrency market with the introduction of spot exchange-traded funds (ETFs) for Bitcoin and Ethereum. This development reflects Hong Kong's growing embrace of digital currencies and its ambition to become a major hub for cryptocurrency trading and finance. <\/p>\n\n\n\n

The trading started last April 30 and shows $12 million in trading volume on its first day. Bitcoin spot ETF recorded a $8.5 million and Ethereum spot ETF $2.5 million in trading volume. <\/p>\n","post_title":"Grayscale Bitcoin Trust Rebounds With $63 Million Influx After 80-Day Drought","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"grayscale-bitcoin-trust-rebounds-with-63-million-influx-after-80-day-drought","to_ping":"","pinged":"","post_modified":"2024-05-06 23:24:54","post_modified_gmt":"2024-05-06 13:24:54","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16761","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":16722,"post_author":"15","post_date":"2024-05-04 02:07:14","post_date_gmt":"2024-05-03 16:07:14","post_content":"\n

Elliptic, a blockchain analysis firm, released a study <\/a>conducted with the MIT-IBM Watson AI Lab on Wednesday. This study utilized a deep learning AI model to identify money laundering patterns within Bitcoin transactions and pinpoint wallets involved in criminal activities.<\/p>\n\n\n\n

Bitcoin's use of a decentralized public ledger, a fundamental aspect of the technology, facilitated the research, according to Elliptic. The collaboration between Elliptic and MIT-IBM leveraged AI to distinguish between legal and illegal transactions, tracking connections within the latter to expose potential money laundering activities.<\/p>\n\n\n\n

Elliptic stated, \u201cBlockchains provide fertile ground for machine learning techniques, thanks to the availability of both transaction data and information on the types of entities that are transacting, collected by us and others. This is in contrast to traditional finance where transaction data is typically siloed, making it challenging to apply these techniques.\u201d<\/em><\/p>\n\n\n\n

Elliptic clarified that instead of directly identifying transactions by illicit actors, the machine learning model is trained to recognize 'subgraphs'\u2014sequences of transactions that depict the laundering of Bitcoin. This method focuses more broadly on the multi-step laundering process rather than specific illegal actions on the blockchain.<\/p>\n\n\n\n

See Related:<\/em><\/strong> Binance's $3.9 Billion USDT Transfer Sparks Speculation Amidst CEO's Guilty Plea<\/a><\/p>\n\n\n\n

Money Laundering in 2024 Reports<\/h2>\n\n\n\n

In 2023, the volume of cryptocurrency involved in money laundering activities decreased significantly, with centralized exchanges continuing as the primary channels for such transactions. DeFi protocols and gambling services saw an uptick in use for laundering, yet they generally lack the anonymity preferred by launderers.<\/p>\n\n\n\n

Sophisticated criminals, particularly North Korea's Lazarus Group, adapted to law enforcement tactics by employing new mixers and utilizing cross-chain bridges to launder funds. These methods allow them to obfuscate the origins of illicit funds more effectively across multiple blockchain platforms, demonstrating a dynamic shift in the techniques used by high-level criminal enterprises to evade detection.<\/p>\n","post_title":"AI Powers New Tool To Detect Illegal Bitcoin Transactions, Study Shows","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"ai-powers-new-tool-to-detect-illegal-bitcoin-transactions-study-shows","to_ping":"","pinged":"","post_modified":"2024-05-04 02:07:20","post_modified_gmt":"2024-05-03 16:07:20","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16722","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":16491,"post_author":"15","post_date":"2024-04-21 10:09:53","post_date_gmt":"2024-04-21 00:09:53","post_content":"\n

Entrepreneur and Dallas Mavericks owner Mark Cuban recently discussed the implications of the upcoming Bitcoin halving. He emphasized its significant impact on miner revenues.<\/p>\n\n\n\n

During an interview <\/a>with The Block, Cuban pointed out that the halving will reduce mining rewards from 6.25 BTC to 3.125 BTC, effectively slashing the income for bitcoin miners by nearly half. However, Cuban expressed greater curiosity about the role artificial intelligence (AI) might play in the mining sector, especially concerning the demand for GPUs.<\/p>\n\n\n\n

Cuban highlighted the intense competition between AI's needs for GPUs and cryptocurrency mining's demands. He questioned whether the economic landscape of mining could be altered by the booming AI industry, asking if it might be more profitable to utilize GPUs for AI model training rather than mining. This issue primarily affects miners using GPUs for cryptocurrencies other than Bitcoin, which typically relies on ASIC machines.<\/p>\n\n\n\n

The intersection of AI and cryptocurrency mining is already seeing practical applications, with companies like Xive and Hive Digital Technologies expanding into AI to bolster their primary mining operations. <\/p>\n\n\n\n

See Related:<\/em><\/strong> Cryptocurrency Statistics And Insights (2022)<\/a><\/p>\n\n\n\n

Bitcoin Halving is Coming<\/h2>\n\n\n\n

Bitcoin halving is a significant event in the cryptocurrency world that occurs approximately every four years, or after 210,000 blocks are mined. During a halving, bitcoin miners' reward for verifying transactions and adding them to the blockchain is reduced by half. This mechanism was designed by Satoshi Nakamoto, the anonymous creator of Bitcoin, to control inflation by limiting the total number of bitcoins that can ever be in circulation to 21 million.<\/p>\n\n\n\n

As of writing, the price of Bitcoin is at $63,760, and 2 blocks remaining until the next Bitcoin halving.<\/p>\n","post_title":"Bitcoin Halving To Slash Miner Earnings, Cuban Eyes AI Shift","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"bitcoin-halving-to-slash-miner-earnings-cuban-eyes-ai-shift","to_ping":"","pinged":"","post_modified":"2024-04-21 10:10:00","post_modified_gmt":"2024-04-21 00:10:00","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16491","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":16460,"post_author":"15","post_date":"2024-04-19 23:38:06","post_date_gmt":"2024-04-19 13:38:06","post_content":"\n

Binance, the leading global cryptocurrency exchange, is set to make a comeback in India after agreeing to pay a $2 million penalty. This development follows a period of stringent regulatory scrutiny where the Indian government blocked nine cryptocurrency websites. They also prompted the removal of related apps from Apple and Google stores due to non-compliance with local laws. <\/p>\n\n\n\n

According to the Economic Times<\/a>, sources close to the matter indicate that Binance is restructuring its operations in South Asia. The cryptocurrency exchange is planning to fully comply with the Financial Intelligence Unit of India, which regulates the local trading of digital assets.<\/p>\n\n\n\n

The move comes as part of Binance's efforts to align with India's financial regulations, including adherence to anti-money laundering and taxation statutes. Before the crackdown, Binance held a commanding presence in the Indian market, with an estimated 90% of crypto holdings among Indian investors, totaling about $4 billion.<\/p>\n\n\n\n

See Related:<\/em><\/strong> Indian Parliament Passes A 30% Crypto Tax Law<\/a><\/p>\n\n\n\n

Nigeria Detains Binance Executives<\/h2>\n\n\n\n

Two months ago, Nigeria detained two executives of the Binance after they flew into the country. The country's Office of the National Security Adviser detained the two, and their passports were seized. <\/p>\n\n\n\n

Nigerian officials have leveled several charges against the cryptocurrency exchange Binance. The allegation includes exploiting the local economy, contributing to the devaluation of the Nigerian naira, and engaging in money laundering activities. They allege that Binance has been involved in manipulating the exchange rates by engaging in speculative actions and fixing rates. Furthermore, the Nigerian government has expressed concerns over $26 billion in transactions carried out on Binance's platform, which they report as being untraceable.<\/p>\n\n\n\n

Binance has denied any wrongdoing, but this is not the first time it has bumped heads with regulators.<\/p>\n","post_title":"Binance Set To Re-enter Indian Market with $2 Million Fine Settlement","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"binance-set-to-re-enter-indian-market-with-2-million-fine-settlement","to_ping":"","pinged":"","post_modified":"2024-04-20 04:11:08","post_modified_gmt":"2024-04-19 18:11:08","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16460","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":16362,"post_author":"15","post_date":"2024-04-15 03:52:59","post_date_gmt":"2024-04-14 17:52:59","post_content":"\n

Hong Kong is on the brink of approving spot exchange-traded funds (ETFs) for bitcoin and ether, potentially by Monday, Bloomberg reports<\/a>. This anticipated approval is poised to influence the cryptocurrency markets in the near term. The ETFs, if launched, will enable investors to trade bitcoin and ether on regulated platforms, enhancing the legitimacy and stability of investing in cryptocurrencies.<\/p>\n\n\n\n

Bloomberg\u2019s sources suggest that if the Hong Kong Exchanges & Clearing can finalize the listing details promptly, trading could commence by the end of April. Harvest Global Investments and Bosera Asset Management, in collaboration with HashKey Capital, are frontrunners in receiving the first approvals for these spot cryptocurrency ETFs. This move could cement Hong Kong's position as a major hub for digital assets in Asia, particularly if it leads to a successful market response similar to the U.S., where the approval of bitcoin ETFs in January triggered a price rally, pushing bitcoin\u2019s value to $73,000.<\/p>\n\n\n\n

However, unlike in the U.S., where ether ETFs have not yet been approved, Hong Kong might take the lead in this area as well. The city's market regulator, the Securities and Futures Commission (SFC), has not commented on the developments. Similarly, inquiries to Harvest Global Investments, Bosera Asset Management, HashKey Capital, and HKEX received no immediate response.<\/p>\n\n\n\n

See Related: <\/em><\/strong>Hong Kong Invests Over $6.4M Into Web 3 Development<\/a><\/p>\n\n\n\n

Ether ETF Update<\/h2>\n\n\n\n

The U.S. Securities and Exchange Commission (SEC) has once again delayed its decision on the application for an Ether ETF. A new deadline is set for May 23<\/a>.<\/p>\n\n\n\n

Despite this, analysts remain cautiously optimistic, estimating a 60% chance<\/a> of eventual approval. These delays and the ongoing review process indicate that the SEC is maintaining a cautious approach towards the approval of Ether ETFs. It reflects the complexities involved in integrating such products into the financial system.<\/p>\n","post_title":"Hong Kong Set to Approve Bitcoin And Ether ETFs By Monday","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"hong-kong-set-to-approve-bitcoin-and-ether-etfs-by-monday","to_ping":"","pinged":"","post_modified":"2024-04-15 03:53:05","post_modified_gmt":"2024-04-14 17:53:05","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16362","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":16347,"post_author":"15","post_date":"2024-04-14 00:03:48","post_date_gmt":"2024-04-13 14:03:48","post_content":"\n

Bitfinex Securities El Salvador is initiating a tokenized debt offering to fund the development of a Hampton by Hilton hotel complex spanning 4,484 square meters at El Salvador International Airport.<\/p>\n\n\n\n

In January, Bitfinex Securities<\/a> became the inaugural regulated entity to obtain a license to operate in El Salvador under the country\u2019s newly enacted Digital Asset Securities Law. This move anticipated a surge in demand for regulated investment vehicles, following the successful introduction of U.S. spot bitcoin exchange-traded funds.<\/p>\n\n\n\n

At the time, the tokenized securities platform announced its acceptance of customer applications and outlined a pipeline of potential financial asset issuances projected to launch in the year's first half.<\/p>\n\n\n\n

The tokenized debt, issued by El Salvadoran firm Inversiones Laguardia S.A. de C.V., is poised to be the inaugural token to trade on the platform. Utilizing the Liquid Network, a Bitcoin sidechain, the token will be denoted as HILSV and traded against U.S. dollars and Tether\u2019s USDT stablecoin.<\/p>\n\n\n\n

See Related: <\/em><\/strong>El Salvador Businesses Barely Impacted By Bitcoins Legality<\/a><\/p>\n\n\n\n

El Salvador Leads The Way<\/h2>\n\n\n\n


El Salvador stands at the forefront of cryptocurrency adoption wherein Bitcoin is recognized as legal tender. Since June 2021, it has been the first country to embrace Bitcoin alongside the US dollar for everyday transactions, making significant strides in the global crypto landscape. <\/p>\n\n\n\n

Under President Nayib Bukele, the government has initiated a groundbreaking project, where the state purchases one Bitcoin daily to bolster its reserves. <\/p>\n","post_title":"Bitfinex Securities Launches Tokenized Debt Offering For A Hotel In El Salvador","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"bitfinex-securities-launches-tokenized-debt-offering-for-a-hotel-in-el-salvador","to_ping":"","pinged":"","post_modified":"2024-04-14 00:03:52","post_modified_gmt":"2024-04-13 14:03:52","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16347","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 … 4 5 6 7 8 … 20

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

See Related:<\/em><\/strong> GBTC Price Prediction after Judges Raised Hope for Investors In Favour Of Grayscale<\/a><\/p>\n\n\n\n

Bitcoin ETF in Asia<\/h2>\n\n\n\n

Hong Kong has recently made strides in the cryptocurrency market with the introduction of spot exchange-traded funds (ETFs) for Bitcoin and Ethereum. This development reflects Hong Kong's growing embrace of digital currencies and its ambition to become a major hub for cryptocurrency trading and finance. <\/p>\n\n\n\n

The trading started last April 30 and shows $12 million in trading volume on its first day. Bitcoin spot ETF recorded a $8.5 million and Ethereum spot ETF $2.5 million in trading volume. <\/p>\n","post_title":"Grayscale Bitcoin Trust Rebounds With $63 Million Influx After 80-Day Drought","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"grayscale-bitcoin-trust-rebounds-with-63-million-influx-after-80-day-drought","to_ping":"","pinged":"","post_modified":"2024-05-06 23:24:54","post_modified_gmt":"2024-05-06 13:24:54","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16761","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":16722,"post_author":"15","post_date":"2024-05-04 02:07:14","post_date_gmt":"2024-05-03 16:07:14","post_content":"\n

Elliptic, a blockchain analysis firm, released a study <\/a>conducted with the MIT-IBM Watson AI Lab on Wednesday. This study utilized a deep learning AI model to identify money laundering patterns within Bitcoin transactions and pinpoint wallets involved in criminal activities.<\/p>\n\n\n\n

Bitcoin's use of a decentralized public ledger, a fundamental aspect of the technology, facilitated the research, according to Elliptic. The collaboration between Elliptic and MIT-IBM leveraged AI to distinguish between legal and illegal transactions, tracking connections within the latter to expose potential money laundering activities.<\/p>\n\n\n\n

Elliptic stated, \u201cBlockchains provide fertile ground for machine learning techniques, thanks to the availability of both transaction data and information on the types of entities that are transacting, collected by us and others. This is in contrast to traditional finance where transaction data is typically siloed, making it challenging to apply these techniques.\u201d<\/em><\/p>\n\n\n\n

Elliptic clarified that instead of directly identifying transactions by illicit actors, the machine learning model is trained to recognize 'subgraphs'\u2014sequences of transactions that depict the laundering of Bitcoin. This method focuses more broadly on the multi-step laundering process rather than specific illegal actions on the blockchain.<\/p>\n\n\n\n

See Related:<\/em><\/strong> Binance's $3.9 Billion USDT Transfer Sparks Speculation Amidst CEO's Guilty Plea<\/a><\/p>\n\n\n\n

Money Laundering in 2024 Reports<\/h2>\n\n\n\n

In 2023, the volume of cryptocurrency involved in money laundering activities decreased significantly, with centralized exchanges continuing as the primary channels for such transactions. DeFi protocols and gambling services saw an uptick in use for laundering, yet they generally lack the anonymity preferred by launderers.<\/p>\n\n\n\n

Sophisticated criminals, particularly North Korea's Lazarus Group, adapted to law enforcement tactics by employing new mixers and utilizing cross-chain bridges to launder funds. These methods allow them to obfuscate the origins of illicit funds more effectively across multiple blockchain platforms, demonstrating a dynamic shift in the techniques used by high-level criminal enterprises to evade detection.<\/p>\n","post_title":"AI Powers New Tool To Detect Illegal Bitcoin Transactions, Study Shows","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"ai-powers-new-tool-to-detect-illegal-bitcoin-transactions-study-shows","to_ping":"","pinged":"","post_modified":"2024-05-04 02:07:20","post_modified_gmt":"2024-05-03 16:07:20","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16722","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":16491,"post_author":"15","post_date":"2024-04-21 10:09:53","post_date_gmt":"2024-04-21 00:09:53","post_content":"\n

Entrepreneur and Dallas Mavericks owner Mark Cuban recently discussed the implications of the upcoming Bitcoin halving. He emphasized its significant impact on miner revenues.<\/p>\n\n\n\n

During an interview <\/a>with The Block, Cuban pointed out that the halving will reduce mining rewards from 6.25 BTC to 3.125 BTC, effectively slashing the income for bitcoin miners by nearly half. However, Cuban expressed greater curiosity about the role artificial intelligence (AI) might play in the mining sector, especially concerning the demand for GPUs.<\/p>\n\n\n\n

Cuban highlighted the intense competition between AI's needs for GPUs and cryptocurrency mining's demands. He questioned whether the economic landscape of mining could be altered by the booming AI industry, asking if it might be more profitable to utilize GPUs for AI model training rather than mining. This issue primarily affects miners using GPUs for cryptocurrencies other than Bitcoin, which typically relies on ASIC machines.<\/p>\n\n\n\n

The intersection of AI and cryptocurrency mining is already seeing practical applications, with companies like Xive and Hive Digital Technologies expanding into AI to bolster their primary mining operations. <\/p>\n\n\n\n

See Related:<\/em><\/strong> Cryptocurrency Statistics And Insights (2022)<\/a><\/p>\n\n\n\n

Bitcoin Halving is Coming<\/h2>\n\n\n\n

Bitcoin halving is a significant event in the cryptocurrency world that occurs approximately every four years, or after 210,000 blocks are mined. During a halving, bitcoin miners' reward for verifying transactions and adding them to the blockchain is reduced by half. This mechanism was designed by Satoshi Nakamoto, the anonymous creator of Bitcoin, to control inflation by limiting the total number of bitcoins that can ever be in circulation to 21 million.<\/p>\n\n\n\n

As of writing, the price of Bitcoin is at $63,760, and 2 blocks remaining until the next Bitcoin halving.<\/p>\n","post_title":"Bitcoin Halving To Slash Miner Earnings, Cuban Eyes AI Shift","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"bitcoin-halving-to-slash-miner-earnings-cuban-eyes-ai-shift","to_ping":"","pinged":"","post_modified":"2024-04-21 10:10:00","post_modified_gmt":"2024-04-21 00:10:00","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16491","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":16460,"post_author":"15","post_date":"2024-04-19 23:38:06","post_date_gmt":"2024-04-19 13:38:06","post_content":"\n

Binance, the leading global cryptocurrency exchange, is set to make a comeback in India after agreeing to pay a $2 million penalty. This development follows a period of stringent regulatory scrutiny where the Indian government blocked nine cryptocurrency websites. They also prompted the removal of related apps from Apple and Google stores due to non-compliance with local laws. <\/p>\n\n\n\n

According to the Economic Times<\/a>, sources close to the matter indicate that Binance is restructuring its operations in South Asia. The cryptocurrency exchange is planning to fully comply with the Financial Intelligence Unit of India, which regulates the local trading of digital assets.<\/p>\n\n\n\n

The move comes as part of Binance's efforts to align with India's financial regulations, including adherence to anti-money laundering and taxation statutes. Before the crackdown, Binance held a commanding presence in the Indian market, with an estimated 90% of crypto holdings among Indian investors, totaling about $4 billion.<\/p>\n\n\n\n

See Related:<\/em><\/strong> Indian Parliament Passes A 30% Crypto Tax Law<\/a><\/p>\n\n\n\n

Nigeria Detains Binance Executives<\/h2>\n\n\n\n

Two months ago, Nigeria detained two executives of the Binance after they flew into the country. The country's Office of the National Security Adviser detained the two, and their passports were seized. <\/p>\n\n\n\n

Nigerian officials have leveled several charges against the cryptocurrency exchange Binance. The allegation includes exploiting the local economy, contributing to the devaluation of the Nigerian naira, and engaging in money laundering activities. They allege that Binance has been involved in manipulating the exchange rates by engaging in speculative actions and fixing rates. Furthermore, the Nigerian government has expressed concerns over $26 billion in transactions carried out on Binance's platform, which they report as being untraceable.<\/p>\n\n\n\n

Binance has denied any wrongdoing, but this is not the first time it has bumped heads with regulators.<\/p>\n","post_title":"Binance Set To Re-enter Indian Market with $2 Million Fine Settlement","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"binance-set-to-re-enter-indian-market-with-2-million-fine-settlement","to_ping":"","pinged":"","post_modified":"2024-04-20 04:11:08","post_modified_gmt":"2024-04-19 18:11:08","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16460","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":16362,"post_author":"15","post_date":"2024-04-15 03:52:59","post_date_gmt":"2024-04-14 17:52:59","post_content":"\n

Hong Kong is on the brink of approving spot exchange-traded funds (ETFs) for bitcoin and ether, potentially by Monday, Bloomberg reports<\/a>. This anticipated approval is poised to influence the cryptocurrency markets in the near term. The ETFs, if launched, will enable investors to trade bitcoin and ether on regulated platforms, enhancing the legitimacy and stability of investing in cryptocurrencies.<\/p>\n\n\n\n

Bloomberg\u2019s sources suggest that if the Hong Kong Exchanges & Clearing can finalize the listing details promptly, trading could commence by the end of April. Harvest Global Investments and Bosera Asset Management, in collaboration with HashKey Capital, are frontrunners in receiving the first approvals for these spot cryptocurrency ETFs. This move could cement Hong Kong's position as a major hub for digital assets in Asia, particularly if it leads to a successful market response similar to the U.S., where the approval of bitcoin ETFs in January triggered a price rally, pushing bitcoin\u2019s value to $73,000.<\/p>\n\n\n\n

However, unlike in the U.S., where ether ETFs have not yet been approved, Hong Kong might take the lead in this area as well. The city's market regulator, the Securities and Futures Commission (SFC), has not commented on the developments. Similarly, inquiries to Harvest Global Investments, Bosera Asset Management, HashKey Capital, and HKEX received no immediate response.<\/p>\n\n\n\n

See Related: <\/em><\/strong>Hong Kong Invests Over $6.4M Into Web 3 Development<\/a><\/p>\n\n\n\n

Ether ETF Update<\/h2>\n\n\n\n

The U.S. Securities and Exchange Commission (SEC) has once again delayed its decision on the application for an Ether ETF. A new deadline is set for May 23<\/a>.<\/p>\n\n\n\n

Despite this, analysts remain cautiously optimistic, estimating a 60% chance<\/a> of eventual approval. These delays and the ongoing review process indicate that the SEC is maintaining a cautious approach towards the approval of Ether ETFs. It reflects the complexities involved in integrating such products into the financial system.<\/p>\n","post_title":"Hong Kong Set to Approve Bitcoin And Ether ETFs By Monday","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"hong-kong-set-to-approve-bitcoin-and-ether-etfs-by-monday","to_ping":"","pinged":"","post_modified":"2024-04-15 03:53:05","post_modified_gmt":"2024-04-14 17:53:05","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16362","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":16347,"post_author":"15","post_date":"2024-04-14 00:03:48","post_date_gmt":"2024-04-13 14:03:48","post_content":"\n

Bitfinex Securities El Salvador is initiating a tokenized debt offering to fund the development of a Hampton by Hilton hotel complex spanning 4,484 square meters at El Salvador International Airport.<\/p>\n\n\n\n

In January, Bitfinex Securities<\/a> became the inaugural regulated entity to obtain a license to operate in El Salvador under the country\u2019s newly enacted Digital Asset Securities Law. This move anticipated a surge in demand for regulated investment vehicles, following the successful introduction of U.S. spot bitcoin exchange-traded funds.<\/p>\n\n\n\n

At the time, the tokenized securities platform announced its acceptance of customer applications and outlined a pipeline of potential financial asset issuances projected to launch in the year's first half.<\/p>\n\n\n\n

The tokenized debt, issued by El Salvadoran firm Inversiones Laguardia S.A. de C.V., is poised to be the inaugural token to trade on the platform. Utilizing the Liquid Network, a Bitcoin sidechain, the token will be denoted as HILSV and traded against U.S. dollars and Tether\u2019s USDT stablecoin.<\/p>\n\n\n\n

See Related: <\/em><\/strong>El Salvador Businesses Barely Impacted By Bitcoins Legality<\/a><\/p>\n\n\n\n

El Salvador Leads The Way<\/h2>\n\n\n\n


El Salvador stands at the forefront of cryptocurrency adoption wherein Bitcoin is recognized as legal tender. Since June 2021, it has been the first country to embrace Bitcoin alongside the US dollar for everyday transactions, making significant strides in the global crypto landscape. <\/p>\n\n\n\n

Under President Nayib Bukele, the government has initiated a groundbreaking project, where the state purchases one Bitcoin daily to bolster its reserves. <\/p>\n","post_title":"Bitfinex Securities Launches Tokenized Debt Offering For A Hotel In El Salvador","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"bitfinex-securities-launches-tokenized-debt-offering-for-a-hotel-in-el-salvador","to_ping":"","pinged":"","post_modified":"2024-04-14 00:03:52","post_modified_gmt":"2024-04-13 14:03:52","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16347","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 … 4 5 6 7 8 … 20

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

This news comes shortly after a downturn for IBIT, which saw a reduction of $37 million just a day earlier, as per Farside Investors. This event was part of a broader trend that saw the ETF market experience its worst day ever, with a total outflow of $563 million amid a decline in Bitcoin prices.<\/p>\n\n\n\n

See Related:<\/em><\/strong> GBTC Price Prediction after Judges Raised Hope for Investors In Favour Of Grayscale<\/a><\/p>\n\n\n\n

Bitcoin ETF in Asia<\/h2>\n\n\n\n

Hong Kong has recently made strides in the cryptocurrency market with the introduction of spot exchange-traded funds (ETFs) for Bitcoin and Ethereum. This development reflects Hong Kong's growing embrace of digital currencies and its ambition to become a major hub for cryptocurrency trading and finance. <\/p>\n\n\n\n

The trading started last April 30 and shows $12 million in trading volume on its first day. Bitcoin spot ETF recorded a $8.5 million and Ethereum spot ETF $2.5 million in trading volume. <\/p>\n","post_title":"Grayscale Bitcoin Trust Rebounds With $63 Million Influx After 80-Day Drought","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"grayscale-bitcoin-trust-rebounds-with-63-million-influx-after-80-day-drought","to_ping":"","pinged":"","post_modified":"2024-05-06 23:24:54","post_modified_gmt":"2024-05-06 13:24:54","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16761","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":16722,"post_author":"15","post_date":"2024-05-04 02:07:14","post_date_gmt":"2024-05-03 16:07:14","post_content":"\n

Elliptic, a blockchain analysis firm, released a study <\/a>conducted with the MIT-IBM Watson AI Lab on Wednesday. This study utilized a deep learning AI model to identify money laundering patterns within Bitcoin transactions and pinpoint wallets involved in criminal activities.<\/p>\n\n\n\n

Bitcoin's use of a decentralized public ledger, a fundamental aspect of the technology, facilitated the research, according to Elliptic. The collaboration between Elliptic and MIT-IBM leveraged AI to distinguish between legal and illegal transactions, tracking connections within the latter to expose potential money laundering activities.<\/p>\n\n\n\n

Elliptic stated, \u201cBlockchains provide fertile ground for machine learning techniques, thanks to the availability of both transaction data and information on the types of entities that are transacting, collected by us and others. This is in contrast to traditional finance where transaction data is typically siloed, making it challenging to apply these techniques.\u201d<\/em><\/p>\n\n\n\n

Elliptic clarified that instead of directly identifying transactions by illicit actors, the machine learning model is trained to recognize 'subgraphs'\u2014sequences of transactions that depict the laundering of Bitcoin. This method focuses more broadly on the multi-step laundering process rather than specific illegal actions on the blockchain.<\/p>\n\n\n\n

See Related:<\/em><\/strong> Binance's $3.9 Billion USDT Transfer Sparks Speculation Amidst CEO's Guilty Plea<\/a><\/p>\n\n\n\n

Money Laundering in 2024 Reports<\/h2>\n\n\n\n

In 2023, the volume of cryptocurrency involved in money laundering activities decreased significantly, with centralized exchanges continuing as the primary channels for such transactions. DeFi protocols and gambling services saw an uptick in use for laundering, yet they generally lack the anonymity preferred by launderers.<\/p>\n\n\n\n

Sophisticated criminals, particularly North Korea's Lazarus Group, adapted to law enforcement tactics by employing new mixers and utilizing cross-chain bridges to launder funds. These methods allow them to obfuscate the origins of illicit funds more effectively across multiple blockchain platforms, demonstrating a dynamic shift in the techniques used by high-level criminal enterprises to evade detection.<\/p>\n","post_title":"AI Powers New Tool To Detect Illegal Bitcoin Transactions, Study Shows","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"ai-powers-new-tool-to-detect-illegal-bitcoin-transactions-study-shows","to_ping":"","pinged":"","post_modified":"2024-05-04 02:07:20","post_modified_gmt":"2024-05-03 16:07:20","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16722","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":16491,"post_author":"15","post_date":"2024-04-21 10:09:53","post_date_gmt":"2024-04-21 00:09:53","post_content":"\n

Entrepreneur and Dallas Mavericks owner Mark Cuban recently discussed the implications of the upcoming Bitcoin halving. He emphasized its significant impact on miner revenues.<\/p>\n\n\n\n

During an interview <\/a>with The Block, Cuban pointed out that the halving will reduce mining rewards from 6.25 BTC to 3.125 BTC, effectively slashing the income for bitcoin miners by nearly half. However, Cuban expressed greater curiosity about the role artificial intelligence (AI) might play in the mining sector, especially concerning the demand for GPUs.<\/p>\n\n\n\n

Cuban highlighted the intense competition between AI's needs for GPUs and cryptocurrency mining's demands. He questioned whether the economic landscape of mining could be altered by the booming AI industry, asking if it might be more profitable to utilize GPUs for AI model training rather than mining. This issue primarily affects miners using GPUs for cryptocurrencies other than Bitcoin, which typically relies on ASIC machines.<\/p>\n\n\n\n

The intersection of AI and cryptocurrency mining is already seeing practical applications, with companies like Xive and Hive Digital Technologies expanding into AI to bolster their primary mining operations. <\/p>\n\n\n\n

See Related:<\/em><\/strong> Cryptocurrency Statistics And Insights (2022)<\/a><\/p>\n\n\n\n

Bitcoin Halving is Coming<\/h2>\n\n\n\n

Bitcoin halving is a significant event in the cryptocurrency world that occurs approximately every four years, or after 210,000 blocks are mined. During a halving, bitcoin miners' reward for verifying transactions and adding them to the blockchain is reduced by half. This mechanism was designed by Satoshi Nakamoto, the anonymous creator of Bitcoin, to control inflation by limiting the total number of bitcoins that can ever be in circulation to 21 million.<\/p>\n\n\n\n

As of writing, the price of Bitcoin is at $63,760, and 2 blocks remaining until the next Bitcoin halving.<\/p>\n","post_title":"Bitcoin Halving To Slash Miner Earnings, Cuban Eyes AI Shift","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"bitcoin-halving-to-slash-miner-earnings-cuban-eyes-ai-shift","to_ping":"","pinged":"","post_modified":"2024-04-21 10:10:00","post_modified_gmt":"2024-04-21 00:10:00","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16491","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":16460,"post_author":"15","post_date":"2024-04-19 23:38:06","post_date_gmt":"2024-04-19 13:38:06","post_content":"\n

Binance, the leading global cryptocurrency exchange, is set to make a comeback in India after agreeing to pay a $2 million penalty. This development follows a period of stringent regulatory scrutiny where the Indian government blocked nine cryptocurrency websites. They also prompted the removal of related apps from Apple and Google stores due to non-compliance with local laws. <\/p>\n\n\n\n

According to the Economic Times<\/a>, sources close to the matter indicate that Binance is restructuring its operations in South Asia. The cryptocurrency exchange is planning to fully comply with the Financial Intelligence Unit of India, which regulates the local trading of digital assets.<\/p>\n\n\n\n

The move comes as part of Binance's efforts to align with India's financial regulations, including adherence to anti-money laundering and taxation statutes. Before the crackdown, Binance held a commanding presence in the Indian market, with an estimated 90% of crypto holdings among Indian investors, totaling about $4 billion.<\/p>\n\n\n\n

See Related:<\/em><\/strong> Indian Parliament Passes A 30% Crypto Tax Law<\/a><\/p>\n\n\n\n

Nigeria Detains Binance Executives<\/h2>\n\n\n\n

Two months ago, Nigeria detained two executives of the Binance after they flew into the country. The country's Office of the National Security Adviser detained the two, and their passports were seized. <\/p>\n\n\n\n

Nigerian officials have leveled several charges against the cryptocurrency exchange Binance. The allegation includes exploiting the local economy, contributing to the devaluation of the Nigerian naira, and engaging in money laundering activities. They allege that Binance has been involved in manipulating the exchange rates by engaging in speculative actions and fixing rates. Furthermore, the Nigerian government has expressed concerns over $26 billion in transactions carried out on Binance's platform, which they report as being untraceable.<\/p>\n\n\n\n

Binance has denied any wrongdoing, but this is not the first time it has bumped heads with regulators.<\/p>\n","post_title":"Binance Set To Re-enter Indian Market with $2 Million Fine Settlement","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"binance-set-to-re-enter-indian-market-with-2-million-fine-settlement","to_ping":"","pinged":"","post_modified":"2024-04-20 04:11:08","post_modified_gmt":"2024-04-19 18:11:08","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16460","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":16362,"post_author":"15","post_date":"2024-04-15 03:52:59","post_date_gmt":"2024-04-14 17:52:59","post_content":"\n

Hong Kong is on the brink of approving spot exchange-traded funds (ETFs) for bitcoin and ether, potentially by Monday, Bloomberg reports<\/a>. This anticipated approval is poised to influence the cryptocurrency markets in the near term. The ETFs, if launched, will enable investors to trade bitcoin and ether on regulated platforms, enhancing the legitimacy and stability of investing in cryptocurrencies.<\/p>\n\n\n\n

Bloomberg\u2019s sources suggest that if the Hong Kong Exchanges & Clearing can finalize the listing details promptly, trading could commence by the end of April. Harvest Global Investments and Bosera Asset Management, in collaboration with HashKey Capital, are frontrunners in receiving the first approvals for these spot cryptocurrency ETFs. This move could cement Hong Kong's position as a major hub for digital assets in Asia, particularly if it leads to a successful market response similar to the U.S., where the approval of bitcoin ETFs in January triggered a price rally, pushing bitcoin\u2019s value to $73,000.<\/p>\n\n\n\n

However, unlike in the U.S., where ether ETFs have not yet been approved, Hong Kong might take the lead in this area as well. The city's market regulator, the Securities and Futures Commission (SFC), has not commented on the developments. Similarly, inquiries to Harvest Global Investments, Bosera Asset Management, HashKey Capital, and HKEX received no immediate response.<\/p>\n\n\n\n

See Related: <\/em><\/strong>Hong Kong Invests Over $6.4M Into Web 3 Development<\/a><\/p>\n\n\n\n

Ether ETF Update<\/h2>\n\n\n\n

The U.S. Securities and Exchange Commission (SEC) has once again delayed its decision on the application for an Ether ETF. A new deadline is set for May 23<\/a>.<\/p>\n\n\n\n

Despite this, analysts remain cautiously optimistic, estimating a 60% chance<\/a> of eventual approval. These delays and the ongoing review process indicate that the SEC is maintaining a cautious approach towards the approval of Ether ETFs. It reflects the complexities involved in integrating such products into the financial system.<\/p>\n","post_title":"Hong Kong Set to Approve Bitcoin And Ether ETFs By Monday","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"hong-kong-set-to-approve-bitcoin-and-ether-etfs-by-monday","to_ping":"","pinged":"","post_modified":"2024-04-15 03:53:05","post_modified_gmt":"2024-04-14 17:53:05","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16362","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":16347,"post_author":"15","post_date":"2024-04-14 00:03:48","post_date_gmt":"2024-04-13 14:03:48","post_content":"\n

Bitfinex Securities El Salvador is initiating a tokenized debt offering to fund the development of a Hampton by Hilton hotel complex spanning 4,484 square meters at El Salvador International Airport.<\/p>\n\n\n\n

In January, Bitfinex Securities<\/a> became the inaugural regulated entity to obtain a license to operate in El Salvador under the country\u2019s newly enacted Digital Asset Securities Law. This move anticipated a surge in demand for regulated investment vehicles, following the successful introduction of U.S. spot bitcoin exchange-traded funds.<\/p>\n\n\n\n

At the time, the tokenized securities platform announced its acceptance of customer applications and outlined a pipeline of potential financial asset issuances projected to launch in the year's first half.<\/p>\n\n\n\n

The tokenized debt, issued by El Salvadoran firm Inversiones Laguardia S.A. de C.V., is poised to be the inaugural token to trade on the platform. Utilizing the Liquid Network, a Bitcoin sidechain, the token will be denoted as HILSV and traded against U.S. dollars and Tether\u2019s USDT stablecoin.<\/p>\n\n\n\n

See Related: <\/em><\/strong>El Salvador Businesses Barely Impacted By Bitcoins Legality<\/a><\/p>\n\n\n\n

El Salvador Leads The Way<\/h2>\n\n\n\n


El Salvador stands at the forefront of cryptocurrency adoption wherein Bitcoin is recognized as legal tender. Since June 2021, it has been the first country to embrace Bitcoin alongside the US dollar for everyday transactions, making significant strides in the global crypto landscape. <\/p>\n\n\n\n

Under President Nayib Bukele, the government has initiated a groundbreaking project, where the state purchases one Bitcoin daily to bolster its reserves. <\/p>\n","post_title":"Bitfinex Securities Launches Tokenized Debt Offering For A Hotel In El Salvador","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"bitfinex-securities-launches-tokenized-debt-offering-for-a-hotel-in-el-salvador","to_ping":"","pinged":"","post_modified":"2024-04-14 00:03:52","post_modified_gmt":"2024-04-13 14:03:52","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16347","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 … 4 5 6 7 8 … 20

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

Despite these challenges, GBTC remains the largest Bitcoin spot ETF, managing over $18.7 billion in assets and holding approximately 297,000 Bitcoin. However, consistent withdrawals have allowed new entrants like the BlackRock iShares Bitcoin Trust (IBIT), which now has $17.2 billion in assets, to narrow the gap.<\/p>\n\n\n\n

This news comes shortly after a downturn for IBIT, which saw a reduction of $37 million just a day earlier, as per Farside Investors. This event was part of a broader trend that saw the ETF market experience its worst day ever, with a total outflow of $563 million amid a decline in Bitcoin prices.<\/p>\n\n\n\n

See Related:<\/em><\/strong> GBTC Price Prediction after Judges Raised Hope for Investors In Favour Of Grayscale<\/a><\/p>\n\n\n\n

Bitcoin ETF in Asia<\/h2>\n\n\n\n

Hong Kong has recently made strides in the cryptocurrency market with the introduction of spot exchange-traded funds (ETFs) for Bitcoin and Ethereum. This development reflects Hong Kong's growing embrace of digital currencies and its ambition to become a major hub for cryptocurrency trading and finance. <\/p>\n\n\n\n

The trading started last April 30 and shows $12 million in trading volume on its first day. Bitcoin spot ETF recorded a $8.5 million and Ethereum spot ETF $2.5 million in trading volume. <\/p>\n","post_title":"Grayscale Bitcoin Trust Rebounds With $63 Million Influx After 80-Day Drought","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"grayscale-bitcoin-trust-rebounds-with-63-million-influx-after-80-day-drought","to_ping":"","pinged":"","post_modified":"2024-05-06 23:24:54","post_modified_gmt":"2024-05-06 13:24:54","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16761","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":16722,"post_author":"15","post_date":"2024-05-04 02:07:14","post_date_gmt":"2024-05-03 16:07:14","post_content":"\n

Elliptic, a blockchain analysis firm, released a study <\/a>conducted with the MIT-IBM Watson AI Lab on Wednesday. This study utilized a deep learning AI model to identify money laundering patterns within Bitcoin transactions and pinpoint wallets involved in criminal activities.<\/p>\n\n\n\n

Bitcoin's use of a decentralized public ledger, a fundamental aspect of the technology, facilitated the research, according to Elliptic. The collaboration between Elliptic and MIT-IBM leveraged AI to distinguish between legal and illegal transactions, tracking connections within the latter to expose potential money laundering activities.<\/p>\n\n\n\n

Elliptic stated, \u201cBlockchains provide fertile ground for machine learning techniques, thanks to the availability of both transaction data and information on the types of entities that are transacting, collected by us and others. This is in contrast to traditional finance where transaction data is typically siloed, making it challenging to apply these techniques.\u201d<\/em><\/p>\n\n\n\n

Elliptic clarified that instead of directly identifying transactions by illicit actors, the machine learning model is trained to recognize 'subgraphs'\u2014sequences of transactions that depict the laundering of Bitcoin. This method focuses more broadly on the multi-step laundering process rather than specific illegal actions on the blockchain.<\/p>\n\n\n\n

See Related:<\/em><\/strong> Binance's $3.9 Billion USDT Transfer Sparks Speculation Amidst CEO's Guilty Plea<\/a><\/p>\n\n\n\n

Money Laundering in 2024 Reports<\/h2>\n\n\n\n

In 2023, the volume of cryptocurrency involved in money laundering activities decreased significantly, with centralized exchanges continuing as the primary channels for such transactions. DeFi protocols and gambling services saw an uptick in use for laundering, yet they generally lack the anonymity preferred by launderers.<\/p>\n\n\n\n

Sophisticated criminals, particularly North Korea's Lazarus Group, adapted to law enforcement tactics by employing new mixers and utilizing cross-chain bridges to launder funds. These methods allow them to obfuscate the origins of illicit funds more effectively across multiple blockchain platforms, demonstrating a dynamic shift in the techniques used by high-level criminal enterprises to evade detection.<\/p>\n","post_title":"AI Powers New Tool To Detect Illegal Bitcoin Transactions, Study Shows","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"ai-powers-new-tool-to-detect-illegal-bitcoin-transactions-study-shows","to_ping":"","pinged":"","post_modified":"2024-05-04 02:07:20","post_modified_gmt":"2024-05-03 16:07:20","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16722","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":16491,"post_author":"15","post_date":"2024-04-21 10:09:53","post_date_gmt":"2024-04-21 00:09:53","post_content":"\n

Entrepreneur and Dallas Mavericks owner Mark Cuban recently discussed the implications of the upcoming Bitcoin halving. He emphasized its significant impact on miner revenues.<\/p>\n\n\n\n

During an interview <\/a>with The Block, Cuban pointed out that the halving will reduce mining rewards from 6.25 BTC to 3.125 BTC, effectively slashing the income for bitcoin miners by nearly half. However, Cuban expressed greater curiosity about the role artificial intelligence (AI) might play in the mining sector, especially concerning the demand for GPUs.<\/p>\n\n\n\n

Cuban highlighted the intense competition between AI's needs for GPUs and cryptocurrency mining's demands. He questioned whether the economic landscape of mining could be altered by the booming AI industry, asking if it might be more profitable to utilize GPUs for AI model training rather than mining. This issue primarily affects miners using GPUs for cryptocurrencies other than Bitcoin, which typically relies on ASIC machines.<\/p>\n\n\n\n

The intersection of AI and cryptocurrency mining is already seeing practical applications, with companies like Xive and Hive Digital Technologies expanding into AI to bolster their primary mining operations. <\/p>\n\n\n\n

See Related:<\/em><\/strong> Cryptocurrency Statistics And Insights (2022)<\/a><\/p>\n\n\n\n

Bitcoin Halving is Coming<\/h2>\n\n\n\n

Bitcoin halving is a significant event in the cryptocurrency world that occurs approximately every four years, or after 210,000 blocks are mined. During a halving, bitcoin miners' reward for verifying transactions and adding them to the blockchain is reduced by half. This mechanism was designed by Satoshi Nakamoto, the anonymous creator of Bitcoin, to control inflation by limiting the total number of bitcoins that can ever be in circulation to 21 million.<\/p>\n\n\n\n

As of writing, the price of Bitcoin is at $63,760, and 2 blocks remaining until the next Bitcoin halving.<\/p>\n","post_title":"Bitcoin Halving To Slash Miner Earnings, Cuban Eyes AI Shift","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"bitcoin-halving-to-slash-miner-earnings-cuban-eyes-ai-shift","to_ping":"","pinged":"","post_modified":"2024-04-21 10:10:00","post_modified_gmt":"2024-04-21 00:10:00","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16491","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":16460,"post_author":"15","post_date":"2024-04-19 23:38:06","post_date_gmt":"2024-04-19 13:38:06","post_content":"\n

Binance, the leading global cryptocurrency exchange, is set to make a comeback in India after agreeing to pay a $2 million penalty. This development follows a period of stringent regulatory scrutiny where the Indian government blocked nine cryptocurrency websites. They also prompted the removal of related apps from Apple and Google stores due to non-compliance with local laws. <\/p>\n\n\n\n

According to the Economic Times<\/a>, sources close to the matter indicate that Binance is restructuring its operations in South Asia. The cryptocurrency exchange is planning to fully comply with the Financial Intelligence Unit of India, which regulates the local trading of digital assets.<\/p>\n\n\n\n

The move comes as part of Binance's efforts to align with India's financial regulations, including adherence to anti-money laundering and taxation statutes. Before the crackdown, Binance held a commanding presence in the Indian market, with an estimated 90% of crypto holdings among Indian investors, totaling about $4 billion.<\/p>\n\n\n\n

See Related:<\/em><\/strong> Indian Parliament Passes A 30% Crypto Tax Law<\/a><\/p>\n\n\n\n

Nigeria Detains Binance Executives<\/h2>\n\n\n\n

Two months ago, Nigeria detained two executives of the Binance after they flew into the country. The country's Office of the National Security Adviser detained the two, and their passports were seized. <\/p>\n\n\n\n

Nigerian officials have leveled several charges against the cryptocurrency exchange Binance. The allegation includes exploiting the local economy, contributing to the devaluation of the Nigerian naira, and engaging in money laundering activities. They allege that Binance has been involved in manipulating the exchange rates by engaging in speculative actions and fixing rates. Furthermore, the Nigerian government has expressed concerns over $26 billion in transactions carried out on Binance's platform, which they report as being untraceable.<\/p>\n\n\n\n

Binance has denied any wrongdoing, but this is not the first time it has bumped heads with regulators.<\/p>\n","post_title":"Binance Set To Re-enter Indian Market with $2 Million Fine Settlement","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"binance-set-to-re-enter-indian-market-with-2-million-fine-settlement","to_ping":"","pinged":"","post_modified":"2024-04-20 04:11:08","post_modified_gmt":"2024-04-19 18:11:08","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16460","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":16362,"post_author":"15","post_date":"2024-04-15 03:52:59","post_date_gmt":"2024-04-14 17:52:59","post_content":"\n

Hong Kong is on the brink of approving spot exchange-traded funds (ETFs) for bitcoin and ether, potentially by Monday, Bloomberg reports<\/a>. This anticipated approval is poised to influence the cryptocurrency markets in the near term. The ETFs, if launched, will enable investors to trade bitcoin and ether on regulated platforms, enhancing the legitimacy and stability of investing in cryptocurrencies.<\/p>\n\n\n\n

Bloomberg\u2019s sources suggest that if the Hong Kong Exchanges & Clearing can finalize the listing details promptly, trading could commence by the end of April. Harvest Global Investments and Bosera Asset Management, in collaboration with HashKey Capital, are frontrunners in receiving the first approvals for these spot cryptocurrency ETFs. This move could cement Hong Kong's position as a major hub for digital assets in Asia, particularly if it leads to a successful market response similar to the U.S., where the approval of bitcoin ETFs in January triggered a price rally, pushing bitcoin\u2019s value to $73,000.<\/p>\n\n\n\n

However, unlike in the U.S., where ether ETFs have not yet been approved, Hong Kong might take the lead in this area as well. The city's market regulator, the Securities and Futures Commission (SFC), has not commented on the developments. Similarly, inquiries to Harvest Global Investments, Bosera Asset Management, HashKey Capital, and HKEX received no immediate response.<\/p>\n\n\n\n

See Related: <\/em><\/strong>Hong Kong Invests Over $6.4M Into Web 3 Development<\/a><\/p>\n\n\n\n

Ether ETF Update<\/h2>\n\n\n\n

The U.S. Securities and Exchange Commission (SEC) has once again delayed its decision on the application for an Ether ETF. A new deadline is set for May 23<\/a>.<\/p>\n\n\n\n

Despite this, analysts remain cautiously optimistic, estimating a 60% chance<\/a> of eventual approval. These delays and the ongoing review process indicate that the SEC is maintaining a cautious approach towards the approval of Ether ETFs. It reflects the complexities involved in integrating such products into the financial system.<\/p>\n","post_title":"Hong Kong Set to Approve Bitcoin And Ether ETFs By Monday","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"hong-kong-set-to-approve-bitcoin-and-ether-etfs-by-monday","to_ping":"","pinged":"","post_modified":"2024-04-15 03:53:05","post_modified_gmt":"2024-04-14 17:53:05","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16362","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":16347,"post_author":"15","post_date":"2024-04-14 00:03:48","post_date_gmt":"2024-04-13 14:03:48","post_content":"\n

Bitfinex Securities El Salvador is initiating a tokenized debt offering to fund the development of a Hampton by Hilton hotel complex spanning 4,484 square meters at El Salvador International Airport.<\/p>\n\n\n\n

In January, Bitfinex Securities<\/a> became the inaugural regulated entity to obtain a license to operate in El Salvador under the country\u2019s newly enacted Digital Asset Securities Law. This move anticipated a surge in demand for regulated investment vehicles, following the successful introduction of U.S. spot bitcoin exchange-traded funds.<\/p>\n\n\n\n

At the time, the tokenized securities platform announced its acceptance of customer applications and outlined a pipeline of potential financial asset issuances projected to launch in the year's first half.<\/p>\n\n\n\n

The tokenized debt, issued by El Salvadoran firm Inversiones Laguardia S.A. de C.V., is poised to be the inaugural token to trade on the platform. Utilizing the Liquid Network, a Bitcoin sidechain, the token will be denoted as HILSV and traded against U.S. dollars and Tether\u2019s USDT stablecoin.<\/p>\n\n\n\n

See Related: <\/em><\/strong>El Salvador Businesses Barely Impacted By Bitcoins Legality<\/a><\/p>\n\n\n\n

El Salvador Leads The Way<\/h2>\n\n\n\n


El Salvador stands at the forefront of cryptocurrency adoption wherein Bitcoin is recognized as legal tender. Since June 2021, it has been the first country to embrace Bitcoin alongside the US dollar for everyday transactions, making significant strides in the global crypto landscape. <\/p>\n\n\n\n

Under President Nayib Bukele, the government has initiated a groundbreaking project, where the state purchases one Bitcoin daily to bolster its reserves. <\/p>\n","post_title":"Bitfinex Securities Launches Tokenized Debt Offering For A Hotel In El Salvador","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"bitfinex-securities-launches-tokenized-debt-offering-for-a-hotel-in-el-salvador","to_ping":"","pinged":"","post_modified":"2024-04-14 00:03:52","post_modified_gmt":"2024-04-13 14:03:52","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16347","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 … 4 5 6 7 8 … 20

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

Bloomberg ETF analyst Eric Balchunas expressed his surprise<\/a> on Twitter, stating, \"Holy crap $GBTC had inflows today,\" and noted that their nearly 80-day streak of outflows had ended. He humorously remarked on the significance of this change, asking his followers to rate how significant this turnaround was for GBTC.<\/p>\n\n\n\n

Despite these challenges, GBTC remains the largest Bitcoin spot ETF, managing over $18.7 billion in assets and holding approximately 297,000 Bitcoin. However, consistent withdrawals have allowed new entrants like the BlackRock iShares Bitcoin Trust (IBIT), which now has $17.2 billion in assets, to narrow the gap.<\/p>\n\n\n\n

This news comes shortly after a downturn for IBIT, which saw a reduction of $37 million just a day earlier, as per Farside Investors. This event was part of a broader trend that saw the ETF market experience its worst day ever, with a total outflow of $563 million amid a decline in Bitcoin prices.<\/p>\n\n\n\n

See Related:<\/em><\/strong> GBTC Price Prediction after Judges Raised Hope for Investors In Favour Of Grayscale<\/a><\/p>\n\n\n\n

Bitcoin ETF in Asia<\/h2>\n\n\n\n

Hong Kong has recently made strides in the cryptocurrency market with the introduction of spot exchange-traded funds (ETFs) for Bitcoin and Ethereum. This development reflects Hong Kong's growing embrace of digital currencies and its ambition to become a major hub for cryptocurrency trading and finance. <\/p>\n\n\n\n

The trading started last April 30 and shows $12 million in trading volume on its first day. Bitcoin spot ETF recorded a $8.5 million and Ethereum spot ETF $2.5 million in trading volume. <\/p>\n","post_title":"Grayscale Bitcoin Trust Rebounds With $63 Million Influx After 80-Day Drought","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"grayscale-bitcoin-trust-rebounds-with-63-million-influx-after-80-day-drought","to_ping":"","pinged":"","post_modified":"2024-05-06 23:24:54","post_modified_gmt":"2024-05-06 13:24:54","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16761","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":16722,"post_author":"15","post_date":"2024-05-04 02:07:14","post_date_gmt":"2024-05-03 16:07:14","post_content":"\n

Elliptic, a blockchain analysis firm, released a study <\/a>conducted with the MIT-IBM Watson AI Lab on Wednesday. This study utilized a deep learning AI model to identify money laundering patterns within Bitcoin transactions and pinpoint wallets involved in criminal activities.<\/p>\n\n\n\n

Bitcoin's use of a decentralized public ledger, a fundamental aspect of the technology, facilitated the research, according to Elliptic. The collaboration between Elliptic and MIT-IBM leveraged AI to distinguish between legal and illegal transactions, tracking connections within the latter to expose potential money laundering activities.<\/p>\n\n\n\n

Elliptic stated, \u201cBlockchains provide fertile ground for machine learning techniques, thanks to the availability of both transaction data and information on the types of entities that are transacting, collected by us and others. This is in contrast to traditional finance where transaction data is typically siloed, making it challenging to apply these techniques.\u201d<\/em><\/p>\n\n\n\n

Elliptic clarified that instead of directly identifying transactions by illicit actors, the machine learning model is trained to recognize 'subgraphs'\u2014sequences of transactions that depict the laundering of Bitcoin. This method focuses more broadly on the multi-step laundering process rather than specific illegal actions on the blockchain.<\/p>\n\n\n\n

See Related:<\/em><\/strong> Binance's $3.9 Billion USDT Transfer Sparks Speculation Amidst CEO's Guilty Plea<\/a><\/p>\n\n\n\n

Money Laundering in 2024 Reports<\/h2>\n\n\n\n

In 2023, the volume of cryptocurrency involved in money laundering activities decreased significantly, with centralized exchanges continuing as the primary channels for such transactions. DeFi protocols and gambling services saw an uptick in use for laundering, yet they generally lack the anonymity preferred by launderers.<\/p>\n\n\n\n

Sophisticated criminals, particularly North Korea's Lazarus Group, adapted to law enforcement tactics by employing new mixers and utilizing cross-chain bridges to launder funds. These methods allow them to obfuscate the origins of illicit funds more effectively across multiple blockchain platforms, demonstrating a dynamic shift in the techniques used by high-level criminal enterprises to evade detection.<\/p>\n","post_title":"AI Powers New Tool To Detect Illegal Bitcoin Transactions, Study Shows","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"ai-powers-new-tool-to-detect-illegal-bitcoin-transactions-study-shows","to_ping":"","pinged":"","post_modified":"2024-05-04 02:07:20","post_modified_gmt":"2024-05-03 16:07:20","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16722","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":16491,"post_author":"15","post_date":"2024-04-21 10:09:53","post_date_gmt":"2024-04-21 00:09:53","post_content":"\n

Entrepreneur and Dallas Mavericks owner Mark Cuban recently discussed the implications of the upcoming Bitcoin halving. He emphasized its significant impact on miner revenues.<\/p>\n\n\n\n

During an interview <\/a>with The Block, Cuban pointed out that the halving will reduce mining rewards from 6.25 BTC to 3.125 BTC, effectively slashing the income for bitcoin miners by nearly half. However, Cuban expressed greater curiosity about the role artificial intelligence (AI) might play in the mining sector, especially concerning the demand for GPUs.<\/p>\n\n\n\n

Cuban highlighted the intense competition between AI's needs for GPUs and cryptocurrency mining's demands. He questioned whether the economic landscape of mining could be altered by the booming AI industry, asking if it might be more profitable to utilize GPUs for AI model training rather than mining. This issue primarily affects miners using GPUs for cryptocurrencies other than Bitcoin, which typically relies on ASIC machines.<\/p>\n\n\n\n

The intersection of AI and cryptocurrency mining is already seeing practical applications, with companies like Xive and Hive Digital Technologies expanding into AI to bolster their primary mining operations. <\/p>\n\n\n\n

See Related:<\/em><\/strong> Cryptocurrency Statistics And Insights (2022)<\/a><\/p>\n\n\n\n

Bitcoin Halving is Coming<\/h2>\n\n\n\n

Bitcoin halving is a significant event in the cryptocurrency world that occurs approximately every four years, or after 210,000 blocks are mined. During a halving, bitcoin miners' reward for verifying transactions and adding them to the blockchain is reduced by half. This mechanism was designed by Satoshi Nakamoto, the anonymous creator of Bitcoin, to control inflation by limiting the total number of bitcoins that can ever be in circulation to 21 million.<\/p>\n\n\n\n

As of writing, the price of Bitcoin is at $63,760, and 2 blocks remaining until the next Bitcoin halving.<\/p>\n","post_title":"Bitcoin Halving To Slash Miner Earnings, Cuban Eyes AI Shift","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"bitcoin-halving-to-slash-miner-earnings-cuban-eyes-ai-shift","to_ping":"","pinged":"","post_modified":"2024-04-21 10:10:00","post_modified_gmt":"2024-04-21 00:10:00","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16491","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":16460,"post_author":"15","post_date":"2024-04-19 23:38:06","post_date_gmt":"2024-04-19 13:38:06","post_content":"\n

Binance, the leading global cryptocurrency exchange, is set to make a comeback in India after agreeing to pay a $2 million penalty. This development follows a period of stringent regulatory scrutiny where the Indian government blocked nine cryptocurrency websites. They also prompted the removal of related apps from Apple and Google stores due to non-compliance with local laws. <\/p>\n\n\n\n

According to the Economic Times<\/a>, sources close to the matter indicate that Binance is restructuring its operations in South Asia. The cryptocurrency exchange is planning to fully comply with the Financial Intelligence Unit of India, which regulates the local trading of digital assets.<\/p>\n\n\n\n

The move comes as part of Binance's efforts to align with India's financial regulations, including adherence to anti-money laundering and taxation statutes. Before the crackdown, Binance held a commanding presence in the Indian market, with an estimated 90% of crypto holdings among Indian investors, totaling about $4 billion.<\/p>\n\n\n\n

See Related:<\/em><\/strong> Indian Parliament Passes A 30% Crypto Tax Law<\/a><\/p>\n\n\n\n

Nigeria Detains Binance Executives<\/h2>\n\n\n\n

Two months ago, Nigeria detained two executives of the Binance after they flew into the country. The country's Office of the National Security Adviser detained the two, and their passports were seized. <\/p>\n\n\n\n

Nigerian officials have leveled several charges against the cryptocurrency exchange Binance. The allegation includes exploiting the local economy, contributing to the devaluation of the Nigerian naira, and engaging in money laundering activities. They allege that Binance has been involved in manipulating the exchange rates by engaging in speculative actions and fixing rates. Furthermore, the Nigerian government has expressed concerns over $26 billion in transactions carried out on Binance's platform, which they report as being untraceable.<\/p>\n\n\n\n

Binance has denied any wrongdoing, but this is not the first time it has bumped heads with regulators.<\/p>\n","post_title":"Binance Set To Re-enter Indian Market with $2 Million Fine Settlement","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"binance-set-to-re-enter-indian-market-with-2-million-fine-settlement","to_ping":"","pinged":"","post_modified":"2024-04-20 04:11:08","post_modified_gmt":"2024-04-19 18:11:08","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16460","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":16362,"post_author":"15","post_date":"2024-04-15 03:52:59","post_date_gmt":"2024-04-14 17:52:59","post_content":"\n

Hong Kong is on the brink of approving spot exchange-traded funds (ETFs) for bitcoin and ether, potentially by Monday, Bloomberg reports<\/a>. This anticipated approval is poised to influence the cryptocurrency markets in the near term. The ETFs, if launched, will enable investors to trade bitcoin and ether on regulated platforms, enhancing the legitimacy and stability of investing in cryptocurrencies.<\/p>\n\n\n\n

Bloomberg\u2019s sources suggest that if the Hong Kong Exchanges & Clearing can finalize the listing details promptly, trading could commence by the end of April. Harvest Global Investments and Bosera Asset Management, in collaboration with HashKey Capital, are frontrunners in receiving the first approvals for these spot cryptocurrency ETFs. This move could cement Hong Kong's position as a major hub for digital assets in Asia, particularly if it leads to a successful market response similar to the U.S., where the approval of bitcoin ETFs in January triggered a price rally, pushing bitcoin\u2019s value to $73,000.<\/p>\n\n\n\n

However, unlike in the U.S., where ether ETFs have not yet been approved, Hong Kong might take the lead in this area as well. The city's market regulator, the Securities and Futures Commission (SFC), has not commented on the developments. Similarly, inquiries to Harvest Global Investments, Bosera Asset Management, HashKey Capital, and HKEX received no immediate response.<\/p>\n\n\n\n

See Related: <\/em><\/strong>Hong Kong Invests Over $6.4M Into Web 3 Development<\/a><\/p>\n\n\n\n

Ether ETF Update<\/h2>\n\n\n\n

The U.S. Securities and Exchange Commission (SEC) has once again delayed its decision on the application for an Ether ETF. A new deadline is set for May 23<\/a>.<\/p>\n\n\n\n

Despite this, analysts remain cautiously optimistic, estimating a 60% chance<\/a> of eventual approval. These delays and the ongoing review process indicate that the SEC is maintaining a cautious approach towards the approval of Ether ETFs. It reflects the complexities involved in integrating such products into the financial system.<\/p>\n","post_title":"Hong Kong Set to Approve Bitcoin And Ether ETFs By Monday","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"hong-kong-set-to-approve-bitcoin-and-ether-etfs-by-monday","to_ping":"","pinged":"","post_modified":"2024-04-15 03:53:05","post_modified_gmt":"2024-04-14 17:53:05","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16362","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":16347,"post_author":"15","post_date":"2024-04-14 00:03:48","post_date_gmt":"2024-04-13 14:03:48","post_content":"\n

Bitfinex Securities El Salvador is initiating a tokenized debt offering to fund the development of a Hampton by Hilton hotel complex spanning 4,484 square meters at El Salvador International Airport.<\/p>\n\n\n\n

In January, Bitfinex Securities<\/a> became the inaugural regulated entity to obtain a license to operate in El Salvador under the country\u2019s newly enacted Digital Asset Securities Law. This move anticipated a surge in demand for regulated investment vehicles, following the successful introduction of U.S. spot bitcoin exchange-traded funds.<\/p>\n\n\n\n

At the time, the tokenized securities platform announced its acceptance of customer applications and outlined a pipeline of potential financial asset issuances projected to launch in the year's first half.<\/p>\n\n\n\n

The tokenized debt, issued by El Salvadoran firm Inversiones Laguardia S.A. de C.V., is poised to be the inaugural token to trade on the platform. Utilizing the Liquid Network, a Bitcoin sidechain, the token will be denoted as HILSV and traded against U.S. dollars and Tether\u2019s USDT stablecoin.<\/p>\n\n\n\n

See Related: <\/em><\/strong>El Salvador Businesses Barely Impacted By Bitcoins Legality<\/a><\/p>\n\n\n\n

El Salvador Leads The Way<\/h2>\n\n\n\n


El Salvador stands at the forefront of cryptocurrency adoption wherein Bitcoin is recognized as legal tender. Since June 2021, it has been the first country to embrace Bitcoin alongside the US dollar for everyday transactions, making significant strides in the global crypto landscape. <\/p>\n\n\n\n

Under President Nayib Bukele, the government has initiated a groundbreaking project, where the state purchases one Bitcoin daily to bolster its reserves. <\/p>\n","post_title":"Bitfinex Securities Launches Tokenized Debt Offering For A Hotel In El Salvador","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"bitfinex-securities-launches-tokenized-debt-offering-for-a-hotel-in-el-salvador","to_ping":"","pinged":"","post_modified":"2024-04-14 00:03:52","post_modified_gmt":"2024-04-13 14:03:52","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16347","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 … 4 5 6 7 8 … 20

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n
\"Bitcoin
Since the inception of Bitcoin spot ETF in the U.S., GBTC has recorded outflows every single trading day.<\/figcaption><\/figure>\n\n\n\n

Bloomberg ETF analyst Eric Balchunas expressed his surprise<\/a> on Twitter, stating, \"Holy crap $GBTC had inflows today,\" and noted that their nearly 80-day streak of outflows had ended. He humorously remarked on the significance of this change, asking his followers to rate how significant this turnaround was for GBTC.<\/p>\n\n\n\n

Despite these challenges, GBTC remains the largest Bitcoin spot ETF, managing over $18.7 billion in assets and holding approximately 297,000 Bitcoin. However, consistent withdrawals have allowed new entrants like the BlackRock iShares Bitcoin Trust (IBIT), which now has $17.2 billion in assets, to narrow the gap.<\/p>\n\n\n\n

This news comes shortly after a downturn for IBIT, which saw a reduction of $37 million just a day earlier, as per Farside Investors. This event was part of a broader trend that saw the ETF market experience its worst day ever, with a total outflow of $563 million amid a decline in Bitcoin prices.<\/p>\n\n\n\n

See Related:<\/em><\/strong> GBTC Price Prediction after Judges Raised Hope for Investors In Favour Of Grayscale<\/a><\/p>\n\n\n\n

Bitcoin ETF in Asia<\/h2>\n\n\n\n

Hong Kong has recently made strides in the cryptocurrency market with the introduction of spot exchange-traded funds (ETFs) for Bitcoin and Ethereum. This development reflects Hong Kong's growing embrace of digital currencies and its ambition to become a major hub for cryptocurrency trading and finance. <\/p>\n\n\n\n

The trading started last April 30 and shows $12 million in trading volume on its first day. Bitcoin spot ETF recorded a $8.5 million and Ethereum spot ETF $2.5 million in trading volume. <\/p>\n","post_title":"Grayscale Bitcoin Trust Rebounds With $63 Million Influx After 80-Day Drought","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"grayscale-bitcoin-trust-rebounds-with-63-million-influx-after-80-day-drought","to_ping":"","pinged":"","post_modified":"2024-05-06 23:24:54","post_modified_gmt":"2024-05-06 13:24:54","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16761","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":16722,"post_author":"15","post_date":"2024-05-04 02:07:14","post_date_gmt":"2024-05-03 16:07:14","post_content":"\n

Elliptic, a blockchain analysis firm, released a study <\/a>conducted with the MIT-IBM Watson AI Lab on Wednesday. This study utilized a deep learning AI model to identify money laundering patterns within Bitcoin transactions and pinpoint wallets involved in criminal activities.<\/p>\n\n\n\n

Bitcoin's use of a decentralized public ledger, a fundamental aspect of the technology, facilitated the research, according to Elliptic. The collaboration between Elliptic and MIT-IBM leveraged AI to distinguish between legal and illegal transactions, tracking connections within the latter to expose potential money laundering activities.<\/p>\n\n\n\n

Elliptic stated, \u201cBlockchains provide fertile ground for machine learning techniques, thanks to the availability of both transaction data and information on the types of entities that are transacting, collected by us and others. This is in contrast to traditional finance where transaction data is typically siloed, making it challenging to apply these techniques.\u201d<\/em><\/p>\n\n\n\n

Elliptic clarified that instead of directly identifying transactions by illicit actors, the machine learning model is trained to recognize 'subgraphs'\u2014sequences of transactions that depict the laundering of Bitcoin. This method focuses more broadly on the multi-step laundering process rather than specific illegal actions on the blockchain.<\/p>\n\n\n\n

See Related:<\/em><\/strong> Binance's $3.9 Billion USDT Transfer Sparks Speculation Amidst CEO's Guilty Plea<\/a><\/p>\n\n\n\n

Money Laundering in 2024 Reports<\/h2>\n\n\n\n

In 2023, the volume of cryptocurrency involved in money laundering activities decreased significantly, with centralized exchanges continuing as the primary channels for such transactions. DeFi protocols and gambling services saw an uptick in use for laundering, yet they generally lack the anonymity preferred by launderers.<\/p>\n\n\n\n

Sophisticated criminals, particularly North Korea's Lazarus Group, adapted to law enforcement tactics by employing new mixers and utilizing cross-chain bridges to launder funds. These methods allow them to obfuscate the origins of illicit funds more effectively across multiple blockchain platforms, demonstrating a dynamic shift in the techniques used by high-level criminal enterprises to evade detection.<\/p>\n","post_title":"AI Powers New Tool To Detect Illegal Bitcoin Transactions, Study Shows","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"ai-powers-new-tool-to-detect-illegal-bitcoin-transactions-study-shows","to_ping":"","pinged":"","post_modified":"2024-05-04 02:07:20","post_modified_gmt":"2024-05-03 16:07:20","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16722","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":16491,"post_author":"15","post_date":"2024-04-21 10:09:53","post_date_gmt":"2024-04-21 00:09:53","post_content":"\n

Entrepreneur and Dallas Mavericks owner Mark Cuban recently discussed the implications of the upcoming Bitcoin halving. He emphasized its significant impact on miner revenues.<\/p>\n\n\n\n

During an interview <\/a>with The Block, Cuban pointed out that the halving will reduce mining rewards from 6.25 BTC to 3.125 BTC, effectively slashing the income for bitcoin miners by nearly half. However, Cuban expressed greater curiosity about the role artificial intelligence (AI) might play in the mining sector, especially concerning the demand for GPUs.<\/p>\n\n\n\n

Cuban highlighted the intense competition between AI's needs for GPUs and cryptocurrency mining's demands. He questioned whether the economic landscape of mining could be altered by the booming AI industry, asking if it might be more profitable to utilize GPUs for AI model training rather than mining. This issue primarily affects miners using GPUs for cryptocurrencies other than Bitcoin, which typically relies on ASIC machines.<\/p>\n\n\n\n

The intersection of AI and cryptocurrency mining is already seeing practical applications, with companies like Xive and Hive Digital Technologies expanding into AI to bolster their primary mining operations. <\/p>\n\n\n\n

See Related:<\/em><\/strong> Cryptocurrency Statistics And Insights (2022)<\/a><\/p>\n\n\n\n

Bitcoin Halving is Coming<\/h2>\n\n\n\n

Bitcoin halving is a significant event in the cryptocurrency world that occurs approximately every four years, or after 210,000 blocks are mined. During a halving, bitcoin miners' reward for verifying transactions and adding them to the blockchain is reduced by half. This mechanism was designed by Satoshi Nakamoto, the anonymous creator of Bitcoin, to control inflation by limiting the total number of bitcoins that can ever be in circulation to 21 million.<\/p>\n\n\n\n

As of writing, the price of Bitcoin is at $63,760, and 2 blocks remaining until the next Bitcoin halving.<\/p>\n","post_title":"Bitcoin Halving To Slash Miner Earnings, Cuban Eyes AI Shift","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"bitcoin-halving-to-slash-miner-earnings-cuban-eyes-ai-shift","to_ping":"","pinged":"","post_modified":"2024-04-21 10:10:00","post_modified_gmt":"2024-04-21 00:10:00","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16491","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":16460,"post_author":"15","post_date":"2024-04-19 23:38:06","post_date_gmt":"2024-04-19 13:38:06","post_content":"\n

Binance, the leading global cryptocurrency exchange, is set to make a comeback in India after agreeing to pay a $2 million penalty. This development follows a period of stringent regulatory scrutiny where the Indian government blocked nine cryptocurrency websites. They also prompted the removal of related apps from Apple and Google stores due to non-compliance with local laws. <\/p>\n\n\n\n

According to the Economic Times<\/a>, sources close to the matter indicate that Binance is restructuring its operations in South Asia. The cryptocurrency exchange is planning to fully comply with the Financial Intelligence Unit of India, which regulates the local trading of digital assets.<\/p>\n\n\n\n

The move comes as part of Binance's efforts to align with India's financial regulations, including adherence to anti-money laundering and taxation statutes. Before the crackdown, Binance held a commanding presence in the Indian market, with an estimated 90% of crypto holdings among Indian investors, totaling about $4 billion.<\/p>\n\n\n\n

See Related:<\/em><\/strong> Indian Parliament Passes A 30% Crypto Tax Law<\/a><\/p>\n\n\n\n

Nigeria Detains Binance Executives<\/h2>\n\n\n\n

Two months ago, Nigeria detained two executives of the Binance after they flew into the country. The country's Office of the National Security Adviser detained the two, and their passports were seized. <\/p>\n\n\n\n

Nigerian officials have leveled several charges against the cryptocurrency exchange Binance. The allegation includes exploiting the local economy, contributing to the devaluation of the Nigerian naira, and engaging in money laundering activities. They allege that Binance has been involved in manipulating the exchange rates by engaging in speculative actions and fixing rates. Furthermore, the Nigerian government has expressed concerns over $26 billion in transactions carried out on Binance's platform, which they report as being untraceable.<\/p>\n\n\n\n

Binance has denied any wrongdoing, but this is not the first time it has bumped heads with regulators.<\/p>\n","post_title":"Binance Set To Re-enter Indian Market with $2 Million Fine Settlement","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"binance-set-to-re-enter-indian-market-with-2-million-fine-settlement","to_ping":"","pinged":"","post_modified":"2024-04-20 04:11:08","post_modified_gmt":"2024-04-19 18:11:08","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16460","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":16362,"post_author":"15","post_date":"2024-04-15 03:52:59","post_date_gmt":"2024-04-14 17:52:59","post_content":"\n

Hong Kong is on the brink of approving spot exchange-traded funds (ETFs) for bitcoin and ether, potentially by Monday, Bloomberg reports<\/a>. This anticipated approval is poised to influence the cryptocurrency markets in the near term. The ETFs, if launched, will enable investors to trade bitcoin and ether on regulated platforms, enhancing the legitimacy and stability of investing in cryptocurrencies.<\/p>\n\n\n\n

Bloomberg\u2019s sources suggest that if the Hong Kong Exchanges & Clearing can finalize the listing details promptly, trading could commence by the end of April. Harvest Global Investments and Bosera Asset Management, in collaboration with HashKey Capital, are frontrunners in receiving the first approvals for these spot cryptocurrency ETFs. This move could cement Hong Kong's position as a major hub for digital assets in Asia, particularly if it leads to a successful market response similar to the U.S., where the approval of bitcoin ETFs in January triggered a price rally, pushing bitcoin\u2019s value to $73,000.<\/p>\n\n\n\n

However, unlike in the U.S., where ether ETFs have not yet been approved, Hong Kong might take the lead in this area as well. The city's market regulator, the Securities and Futures Commission (SFC), has not commented on the developments. Similarly, inquiries to Harvest Global Investments, Bosera Asset Management, HashKey Capital, and HKEX received no immediate response.<\/p>\n\n\n\n

See Related: <\/em><\/strong>Hong Kong Invests Over $6.4M Into Web 3 Development<\/a><\/p>\n\n\n\n

Ether ETF Update<\/h2>\n\n\n\n

The U.S. Securities and Exchange Commission (SEC) has once again delayed its decision on the application for an Ether ETF. A new deadline is set for May 23<\/a>.<\/p>\n\n\n\n

Despite this, analysts remain cautiously optimistic, estimating a 60% chance<\/a> of eventual approval. These delays and the ongoing review process indicate that the SEC is maintaining a cautious approach towards the approval of Ether ETFs. It reflects the complexities involved in integrating such products into the financial system.<\/p>\n","post_title":"Hong Kong Set to Approve Bitcoin And Ether ETFs By Monday","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"hong-kong-set-to-approve-bitcoin-and-ether-etfs-by-monday","to_ping":"","pinged":"","post_modified":"2024-04-15 03:53:05","post_modified_gmt":"2024-04-14 17:53:05","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16362","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":16347,"post_author":"15","post_date":"2024-04-14 00:03:48","post_date_gmt":"2024-04-13 14:03:48","post_content":"\n

Bitfinex Securities El Salvador is initiating a tokenized debt offering to fund the development of a Hampton by Hilton hotel complex spanning 4,484 square meters at El Salvador International Airport.<\/p>\n\n\n\n

In January, Bitfinex Securities<\/a> became the inaugural regulated entity to obtain a license to operate in El Salvador under the country\u2019s newly enacted Digital Asset Securities Law. This move anticipated a surge in demand for regulated investment vehicles, following the successful introduction of U.S. spot bitcoin exchange-traded funds.<\/p>\n\n\n\n

At the time, the tokenized securities platform announced its acceptance of customer applications and outlined a pipeline of potential financial asset issuances projected to launch in the year's first half.<\/p>\n\n\n\n

The tokenized debt, issued by El Salvadoran firm Inversiones Laguardia S.A. de C.V., is poised to be the inaugural token to trade on the platform. Utilizing the Liquid Network, a Bitcoin sidechain, the token will be denoted as HILSV and traded against U.S. dollars and Tether\u2019s USDT stablecoin.<\/p>\n\n\n\n

See Related: <\/em><\/strong>El Salvador Businesses Barely Impacted By Bitcoins Legality<\/a><\/p>\n\n\n\n

El Salvador Leads The Way<\/h2>\n\n\n\n


El Salvador stands at the forefront of cryptocurrency adoption wherein Bitcoin is recognized as legal tender. Since June 2021, it has been the first country to embrace Bitcoin alongside the US dollar for everyday transactions, making significant strides in the global crypto landscape. <\/p>\n\n\n\n

Under President Nayib Bukele, the government has initiated a groundbreaking project, where the state purchases one Bitcoin daily to bolster its reserves. <\/p>\n","post_title":"Bitfinex Securities Launches Tokenized Debt Offering For A Hotel In El Salvador","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"bitfinex-securities-launches-tokenized-debt-offering-for-a-hotel-in-el-salvador","to_ping":"","pinged":"","post_modified":"2024-04-14 00:03:52","post_modified_gmt":"2024-04-13 14:03:52","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16347","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 … 4 5 6 7 8 … 20

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

The Grayscale Bitcoin Trust ETF ($GBTC) recently experienced a shift in its financial trend. It registers an inflow of $63 million and breaks an 11-week rally of net losses according to the Farside Investors<\/a>.<\/p>\n\n\n\n

\"Bitcoin
Since the inception of Bitcoin spot ETF in the U.S., GBTC has recorded outflows every single trading day.<\/figcaption><\/figure>\n\n\n\n

Bloomberg ETF analyst Eric Balchunas expressed his surprise<\/a> on Twitter, stating, \"Holy crap $GBTC had inflows today,\" and noted that their nearly 80-day streak of outflows had ended. He humorously remarked on the significance of this change, asking his followers to rate how significant this turnaround was for GBTC.<\/p>\n\n\n\n

Despite these challenges, GBTC remains the largest Bitcoin spot ETF, managing over $18.7 billion in assets and holding approximately 297,000 Bitcoin. However, consistent withdrawals have allowed new entrants like the BlackRock iShares Bitcoin Trust (IBIT), which now has $17.2 billion in assets, to narrow the gap.<\/p>\n\n\n\n

This news comes shortly after a downturn for IBIT, which saw a reduction of $37 million just a day earlier, as per Farside Investors. This event was part of a broader trend that saw the ETF market experience its worst day ever, with a total outflow of $563 million amid a decline in Bitcoin prices.<\/p>\n\n\n\n

See Related:<\/em><\/strong> GBTC Price Prediction after Judges Raised Hope for Investors In Favour Of Grayscale<\/a><\/p>\n\n\n\n

Bitcoin ETF in Asia<\/h2>\n\n\n\n

Hong Kong has recently made strides in the cryptocurrency market with the introduction of spot exchange-traded funds (ETFs) for Bitcoin and Ethereum. This development reflects Hong Kong's growing embrace of digital currencies and its ambition to become a major hub for cryptocurrency trading and finance. <\/p>\n\n\n\n

The trading started last April 30 and shows $12 million in trading volume on its first day. Bitcoin spot ETF recorded a $8.5 million and Ethereum spot ETF $2.5 million in trading volume. <\/p>\n","post_title":"Grayscale Bitcoin Trust Rebounds With $63 Million Influx After 80-Day Drought","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"grayscale-bitcoin-trust-rebounds-with-63-million-influx-after-80-day-drought","to_ping":"","pinged":"","post_modified":"2024-05-06 23:24:54","post_modified_gmt":"2024-05-06 13:24:54","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16761","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":16722,"post_author":"15","post_date":"2024-05-04 02:07:14","post_date_gmt":"2024-05-03 16:07:14","post_content":"\n

Elliptic, a blockchain analysis firm, released a study <\/a>conducted with the MIT-IBM Watson AI Lab on Wednesday. This study utilized a deep learning AI model to identify money laundering patterns within Bitcoin transactions and pinpoint wallets involved in criminal activities.<\/p>\n\n\n\n

Bitcoin's use of a decentralized public ledger, a fundamental aspect of the technology, facilitated the research, according to Elliptic. The collaboration between Elliptic and MIT-IBM leveraged AI to distinguish between legal and illegal transactions, tracking connections within the latter to expose potential money laundering activities.<\/p>\n\n\n\n

Elliptic stated, \u201cBlockchains provide fertile ground for machine learning techniques, thanks to the availability of both transaction data and information on the types of entities that are transacting, collected by us and others. This is in contrast to traditional finance where transaction data is typically siloed, making it challenging to apply these techniques.\u201d<\/em><\/p>\n\n\n\n

Elliptic clarified that instead of directly identifying transactions by illicit actors, the machine learning model is trained to recognize 'subgraphs'\u2014sequences of transactions that depict the laundering of Bitcoin. This method focuses more broadly on the multi-step laundering process rather than specific illegal actions on the blockchain.<\/p>\n\n\n\n

See Related:<\/em><\/strong> Binance's $3.9 Billion USDT Transfer Sparks Speculation Amidst CEO's Guilty Plea<\/a><\/p>\n\n\n\n

Money Laundering in 2024 Reports<\/h2>\n\n\n\n

In 2023, the volume of cryptocurrency involved in money laundering activities decreased significantly, with centralized exchanges continuing as the primary channels for such transactions. DeFi protocols and gambling services saw an uptick in use for laundering, yet they generally lack the anonymity preferred by launderers.<\/p>\n\n\n\n

Sophisticated criminals, particularly North Korea's Lazarus Group, adapted to law enforcement tactics by employing new mixers and utilizing cross-chain bridges to launder funds. These methods allow them to obfuscate the origins of illicit funds more effectively across multiple blockchain platforms, demonstrating a dynamic shift in the techniques used by high-level criminal enterprises to evade detection.<\/p>\n","post_title":"AI Powers New Tool To Detect Illegal Bitcoin Transactions, Study Shows","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"ai-powers-new-tool-to-detect-illegal-bitcoin-transactions-study-shows","to_ping":"","pinged":"","post_modified":"2024-05-04 02:07:20","post_modified_gmt":"2024-05-03 16:07:20","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16722","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":16491,"post_author":"15","post_date":"2024-04-21 10:09:53","post_date_gmt":"2024-04-21 00:09:53","post_content":"\n

Entrepreneur and Dallas Mavericks owner Mark Cuban recently discussed the implications of the upcoming Bitcoin halving. He emphasized its significant impact on miner revenues.<\/p>\n\n\n\n

During an interview <\/a>with The Block, Cuban pointed out that the halving will reduce mining rewards from 6.25 BTC to 3.125 BTC, effectively slashing the income for bitcoin miners by nearly half. However, Cuban expressed greater curiosity about the role artificial intelligence (AI) might play in the mining sector, especially concerning the demand for GPUs.<\/p>\n\n\n\n

Cuban highlighted the intense competition between AI's needs for GPUs and cryptocurrency mining's demands. He questioned whether the economic landscape of mining could be altered by the booming AI industry, asking if it might be more profitable to utilize GPUs for AI model training rather than mining. This issue primarily affects miners using GPUs for cryptocurrencies other than Bitcoin, which typically relies on ASIC machines.<\/p>\n\n\n\n

The intersection of AI and cryptocurrency mining is already seeing practical applications, with companies like Xive and Hive Digital Technologies expanding into AI to bolster their primary mining operations. <\/p>\n\n\n\n

See Related:<\/em><\/strong> Cryptocurrency Statistics And Insights (2022)<\/a><\/p>\n\n\n\n

Bitcoin Halving is Coming<\/h2>\n\n\n\n

Bitcoin halving is a significant event in the cryptocurrency world that occurs approximately every four years, or after 210,000 blocks are mined. During a halving, bitcoin miners' reward for verifying transactions and adding them to the blockchain is reduced by half. This mechanism was designed by Satoshi Nakamoto, the anonymous creator of Bitcoin, to control inflation by limiting the total number of bitcoins that can ever be in circulation to 21 million.<\/p>\n\n\n\n

As of writing, the price of Bitcoin is at $63,760, and 2 blocks remaining until the next Bitcoin halving.<\/p>\n","post_title":"Bitcoin Halving To Slash Miner Earnings, Cuban Eyes AI Shift","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"bitcoin-halving-to-slash-miner-earnings-cuban-eyes-ai-shift","to_ping":"","pinged":"","post_modified":"2024-04-21 10:10:00","post_modified_gmt":"2024-04-21 00:10:00","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16491","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":16460,"post_author":"15","post_date":"2024-04-19 23:38:06","post_date_gmt":"2024-04-19 13:38:06","post_content":"\n

Binance, the leading global cryptocurrency exchange, is set to make a comeback in India after agreeing to pay a $2 million penalty. This development follows a period of stringent regulatory scrutiny where the Indian government blocked nine cryptocurrency websites. They also prompted the removal of related apps from Apple and Google stores due to non-compliance with local laws. <\/p>\n\n\n\n

According to the Economic Times<\/a>, sources close to the matter indicate that Binance is restructuring its operations in South Asia. The cryptocurrency exchange is planning to fully comply with the Financial Intelligence Unit of India, which regulates the local trading of digital assets.<\/p>\n\n\n\n

The move comes as part of Binance's efforts to align with India's financial regulations, including adherence to anti-money laundering and taxation statutes. Before the crackdown, Binance held a commanding presence in the Indian market, with an estimated 90% of crypto holdings among Indian investors, totaling about $4 billion.<\/p>\n\n\n\n

See Related:<\/em><\/strong> Indian Parliament Passes A 30% Crypto Tax Law<\/a><\/p>\n\n\n\n

Nigeria Detains Binance Executives<\/h2>\n\n\n\n

Two months ago, Nigeria detained two executives of the Binance after they flew into the country. The country's Office of the National Security Adviser detained the two, and their passports were seized. <\/p>\n\n\n\n

Nigerian officials have leveled several charges against the cryptocurrency exchange Binance. The allegation includes exploiting the local economy, contributing to the devaluation of the Nigerian naira, and engaging in money laundering activities. They allege that Binance has been involved in manipulating the exchange rates by engaging in speculative actions and fixing rates. Furthermore, the Nigerian government has expressed concerns over $26 billion in transactions carried out on Binance's platform, which they report as being untraceable.<\/p>\n\n\n\n

Binance has denied any wrongdoing, but this is not the first time it has bumped heads with regulators.<\/p>\n","post_title":"Binance Set To Re-enter Indian Market with $2 Million Fine Settlement","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"binance-set-to-re-enter-indian-market-with-2-million-fine-settlement","to_ping":"","pinged":"","post_modified":"2024-04-20 04:11:08","post_modified_gmt":"2024-04-19 18:11:08","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16460","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":16362,"post_author":"15","post_date":"2024-04-15 03:52:59","post_date_gmt":"2024-04-14 17:52:59","post_content":"\n

Hong Kong is on the brink of approving spot exchange-traded funds (ETFs) for bitcoin and ether, potentially by Monday, Bloomberg reports<\/a>. This anticipated approval is poised to influence the cryptocurrency markets in the near term. The ETFs, if launched, will enable investors to trade bitcoin and ether on regulated platforms, enhancing the legitimacy and stability of investing in cryptocurrencies.<\/p>\n\n\n\n

Bloomberg\u2019s sources suggest that if the Hong Kong Exchanges & Clearing can finalize the listing details promptly, trading could commence by the end of April. Harvest Global Investments and Bosera Asset Management, in collaboration with HashKey Capital, are frontrunners in receiving the first approvals for these spot cryptocurrency ETFs. This move could cement Hong Kong's position as a major hub for digital assets in Asia, particularly if it leads to a successful market response similar to the U.S., where the approval of bitcoin ETFs in January triggered a price rally, pushing bitcoin\u2019s value to $73,000.<\/p>\n\n\n\n

However, unlike in the U.S., where ether ETFs have not yet been approved, Hong Kong might take the lead in this area as well. The city's market regulator, the Securities and Futures Commission (SFC), has not commented on the developments. Similarly, inquiries to Harvest Global Investments, Bosera Asset Management, HashKey Capital, and HKEX received no immediate response.<\/p>\n\n\n\n

See Related: <\/em><\/strong>Hong Kong Invests Over $6.4M Into Web 3 Development<\/a><\/p>\n\n\n\n

Ether ETF Update<\/h2>\n\n\n\n

The U.S. Securities and Exchange Commission (SEC) has once again delayed its decision on the application for an Ether ETF. A new deadline is set for May 23<\/a>.<\/p>\n\n\n\n

Despite this, analysts remain cautiously optimistic, estimating a 60% chance<\/a> of eventual approval. These delays and the ongoing review process indicate that the SEC is maintaining a cautious approach towards the approval of Ether ETFs. It reflects the complexities involved in integrating such products into the financial system.<\/p>\n","post_title":"Hong Kong Set to Approve Bitcoin And Ether ETFs By Monday","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"hong-kong-set-to-approve-bitcoin-and-ether-etfs-by-monday","to_ping":"","pinged":"","post_modified":"2024-04-15 03:53:05","post_modified_gmt":"2024-04-14 17:53:05","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16362","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":16347,"post_author":"15","post_date":"2024-04-14 00:03:48","post_date_gmt":"2024-04-13 14:03:48","post_content":"\n

Bitfinex Securities El Salvador is initiating a tokenized debt offering to fund the development of a Hampton by Hilton hotel complex spanning 4,484 square meters at El Salvador International Airport.<\/p>\n\n\n\n

In January, Bitfinex Securities<\/a> became the inaugural regulated entity to obtain a license to operate in El Salvador under the country\u2019s newly enacted Digital Asset Securities Law. This move anticipated a surge in demand for regulated investment vehicles, following the successful introduction of U.S. spot bitcoin exchange-traded funds.<\/p>\n\n\n\n

At the time, the tokenized securities platform announced its acceptance of customer applications and outlined a pipeline of potential financial asset issuances projected to launch in the year's first half.<\/p>\n\n\n\n

The tokenized debt, issued by El Salvadoran firm Inversiones Laguardia S.A. de C.V., is poised to be the inaugural token to trade on the platform. Utilizing the Liquid Network, a Bitcoin sidechain, the token will be denoted as HILSV and traded against U.S. dollars and Tether\u2019s USDT stablecoin.<\/p>\n\n\n\n

See Related: <\/em><\/strong>El Salvador Businesses Barely Impacted By Bitcoins Legality<\/a><\/p>\n\n\n\n

El Salvador Leads The Way<\/h2>\n\n\n\n


El Salvador stands at the forefront of cryptocurrency adoption wherein Bitcoin is recognized as legal tender. Since June 2021, it has been the first country to embrace Bitcoin alongside the US dollar for everyday transactions, making significant strides in the global crypto landscape. <\/p>\n\n\n\n

Under President Nayib Bukele, the government has initiated a groundbreaking project, where the state purchases one Bitcoin daily to bolster its reserves. <\/p>\n","post_title":"Bitfinex Securities Launches Tokenized Debt Offering For A Hotel In El Salvador","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"bitfinex-securities-launches-tokenized-debt-offering-for-a-hotel-in-el-salvador","to_ping":"","pinged":"","post_modified":"2024-04-14 00:03:52","post_modified_gmt":"2024-04-13 14:03:52","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16347","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 … 4 5 6 7 8 … 20

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

Hong Kong recently approved and started trading Bitcoin and Ethereum spot ETF. <\/p>\n","post_title":"Wells Fargo Dips Toes Into Crypto With Bitcoin ETF Investments","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"wells-fargo-dips-toes-into-crypto-with-bitcoin-etf-investments","to_ping":"","pinged":"","post_modified":"2024-05-12 20:19:23","post_modified_gmt":"2024-05-12 10:19:23","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16856","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":16761,"post_author":"15","post_date":"2024-05-06 23:24:50","post_date_gmt":"2024-05-06 13:24:50","post_content":"\n

The Grayscale Bitcoin Trust ETF ($GBTC) recently experienced a shift in its financial trend. It registers an inflow of $63 million and breaks an 11-week rally of net losses according to the Farside Investors<\/a>.<\/p>\n\n\n\n

\"Bitcoin
Since the inception of Bitcoin spot ETF in the U.S., GBTC has recorded outflows every single trading day.<\/figcaption><\/figure>\n\n\n\n

Bloomberg ETF analyst Eric Balchunas expressed his surprise<\/a> on Twitter, stating, \"Holy crap $GBTC had inflows today,\" and noted that their nearly 80-day streak of outflows had ended. He humorously remarked on the significance of this change, asking his followers to rate how significant this turnaround was for GBTC.<\/p>\n\n\n\n

Despite these challenges, GBTC remains the largest Bitcoin spot ETF, managing over $18.7 billion in assets and holding approximately 297,000 Bitcoin. However, consistent withdrawals have allowed new entrants like the BlackRock iShares Bitcoin Trust (IBIT), which now has $17.2 billion in assets, to narrow the gap.<\/p>\n\n\n\n

This news comes shortly after a downturn for IBIT, which saw a reduction of $37 million just a day earlier, as per Farside Investors. This event was part of a broader trend that saw the ETF market experience its worst day ever, with a total outflow of $563 million amid a decline in Bitcoin prices.<\/p>\n\n\n\n

See Related:<\/em><\/strong> GBTC Price Prediction after Judges Raised Hope for Investors In Favour Of Grayscale<\/a><\/p>\n\n\n\n

Bitcoin ETF in Asia<\/h2>\n\n\n\n

Hong Kong has recently made strides in the cryptocurrency market with the introduction of spot exchange-traded funds (ETFs) for Bitcoin and Ethereum. This development reflects Hong Kong's growing embrace of digital currencies and its ambition to become a major hub for cryptocurrency trading and finance. <\/p>\n\n\n\n

The trading started last April 30 and shows $12 million in trading volume on its first day. Bitcoin spot ETF recorded a $8.5 million and Ethereum spot ETF $2.5 million in trading volume. <\/p>\n","post_title":"Grayscale Bitcoin Trust Rebounds With $63 Million Influx After 80-Day Drought","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"grayscale-bitcoin-trust-rebounds-with-63-million-influx-after-80-day-drought","to_ping":"","pinged":"","post_modified":"2024-05-06 23:24:54","post_modified_gmt":"2024-05-06 13:24:54","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16761","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":16722,"post_author":"15","post_date":"2024-05-04 02:07:14","post_date_gmt":"2024-05-03 16:07:14","post_content":"\n

Elliptic, a blockchain analysis firm, released a study <\/a>conducted with the MIT-IBM Watson AI Lab on Wednesday. This study utilized a deep learning AI model to identify money laundering patterns within Bitcoin transactions and pinpoint wallets involved in criminal activities.<\/p>\n\n\n\n

Bitcoin's use of a decentralized public ledger, a fundamental aspect of the technology, facilitated the research, according to Elliptic. The collaboration between Elliptic and MIT-IBM leveraged AI to distinguish between legal and illegal transactions, tracking connections within the latter to expose potential money laundering activities.<\/p>\n\n\n\n

Elliptic stated, \u201cBlockchains provide fertile ground for machine learning techniques, thanks to the availability of both transaction data and information on the types of entities that are transacting, collected by us and others. This is in contrast to traditional finance where transaction data is typically siloed, making it challenging to apply these techniques.\u201d<\/em><\/p>\n\n\n\n

Elliptic clarified that instead of directly identifying transactions by illicit actors, the machine learning model is trained to recognize 'subgraphs'\u2014sequences of transactions that depict the laundering of Bitcoin. This method focuses more broadly on the multi-step laundering process rather than specific illegal actions on the blockchain.<\/p>\n\n\n\n

See Related:<\/em><\/strong> Binance's $3.9 Billion USDT Transfer Sparks Speculation Amidst CEO's Guilty Plea<\/a><\/p>\n\n\n\n

Money Laundering in 2024 Reports<\/h2>\n\n\n\n

In 2023, the volume of cryptocurrency involved in money laundering activities decreased significantly, with centralized exchanges continuing as the primary channels for such transactions. DeFi protocols and gambling services saw an uptick in use for laundering, yet they generally lack the anonymity preferred by launderers.<\/p>\n\n\n\n

Sophisticated criminals, particularly North Korea's Lazarus Group, adapted to law enforcement tactics by employing new mixers and utilizing cross-chain bridges to launder funds. These methods allow them to obfuscate the origins of illicit funds more effectively across multiple blockchain platforms, demonstrating a dynamic shift in the techniques used by high-level criminal enterprises to evade detection.<\/p>\n","post_title":"AI Powers New Tool To Detect Illegal Bitcoin Transactions, Study Shows","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"ai-powers-new-tool-to-detect-illegal-bitcoin-transactions-study-shows","to_ping":"","pinged":"","post_modified":"2024-05-04 02:07:20","post_modified_gmt":"2024-05-03 16:07:20","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16722","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":16491,"post_author":"15","post_date":"2024-04-21 10:09:53","post_date_gmt":"2024-04-21 00:09:53","post_content":"\n

Entrepreneur and Dallas Mavericks owner Mark Cuban recently discussed the implications of the upcoming Bitcoin halving. He emphasized its significant impact on miner revenues.<\/p>\n\n\n\n

During an interview <\/a>with The Block, Cuban pointed out that the halving will reduce mining rewards from 6.25 BTC to 3.125 BTC, effectively slashing the income for bitcoin miners by nearly half. However, Cuban expressed greater curiosity about the role artificial intelligence (AI) might play in the mining sector, especially concerning the demand for GPUs.<\/p>\n\n\n\n

Cuban highlighted the intense competition between AI's needs for GPUs and cryptocurrency mining's demands. He questioned whether the economic landscape of mining could be altered by the booming AI industry, asking if it might be more profitable to utilize GPUs for AI model training rather than mining. This issue primarily affects miners using GPUs for cryptocurrencies other than Bitcoin, which typically relies on ASIC machines.<\/p>\n\n\n\n

The intersection of AI and cryptocurrency mining is already seeing practical applications, with companies like Xive and Hive Digital Technologies expanding into AI to bolster their primary mining operations. <\/p>\n\n\n\n

See Related:<\/em><\/strong> Cryptocurrency Statistics And Insights (2022)<\/a><\/p>\n\n\n\n

Bitcoin Halving is Coming<\/h2>\n\n\n\n

Bitcoin halving is a significant event in the cryptocurrency world that occurs approximately every four years, or after 210,000 blocks are mined. During a halving, bitcoin miners' reward for verifying transactions and adding them to the blockchain is reduced by half. This mechanism was designed by Satoshi Nakamoto, the anonymous creator of Bitcoin, to control inflation by limiting the total number of bitcoins that can ever be in circulation to 21 million.<\/p>\n\n\n\n

As of writing, the price of Bitcoin is at $63,760, and 2 blocks remaining until the next Bitcoin halving.<\/p>\n","post_title":"Bitcoin Halving To Slash Miner Earnings, Cuban Eyes AI Shift","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"bitcoin-halving-to-slash-miner-earnings-cuban-eyes-ai-shift","to_ping":"","pinged":"","post_modified":"2024-04-21 10:10:00","post_modified_gmt":"2024-04-21 00:10:00","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16491","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":16460,"post_author":"15","post_date":"2024-04-19 23:38:06","post_date_gmt":"2024-04-19 13:38:06","post_content":"\n

Binance, the leading global cryptocurrency exchange, is set to make a comeback in India after agreeing to pay a $2 million penalty. This development follows a period of stringent regulatory scrutiny where the Indian government blocked nine cryptocurrency websites. They also prompted the removal of related apps from Apple and Google stores due to non-compliance with local laws. <\/p>\n\n\n\n

According to the Economic Times<\/a>, sources close to the matter indicate that Binance is restructuring its operations in South Asia. The cryptocurrency exchange is planning to fully comply with the Financial Intelligence Unit of India, which regulates the local trading of digital assets.<\/p>\n\n\n\n

The move comes as part of Binance's efforts to align with India's financial regulations, including adherence to anti-money laundering and taxation statutes. Before the crackdown, Binance held a commanding presence in the Indian market, with an estimated 90% of crypto holdings among Indian investors, totaling about $4 billion.<\/p>\n\n\n\n

See Related:<\/em><\/strong> Indian Parliament Passes A 30% Crypto Tax Law<\/a><\/p>\n\n\n\n

Nigeria Detains Binance Executives<\/h2>\n\n\n\n

Two months ago, Nigeria detained two executives of the Binance after they flew into the country. The country's Office of the National Security Adviser detained the two, and their passports were seized. <\/p>\n\n\n\n

Nigerian officials have leveled several charges against the cryptocurrency exchange Binance. The allegation includes exploiting the local economy, contributing to the devaluation of the Nigerian naira, and engaging in money laundering activities. They allege that Binance has been involved in manipulating the exchange rates by engaging in speculative actions and fixing rates. Furthermore, the Nigerian government has expressed concerns over $26 billion in transactions carried out on Binance's platform, which they report as being untraceable.<\/p>\n\n\n\n

Binance has denied any wrongdoing, but this is not the first time it has bumped heads with regulators.<\/p>\n","post_title":"Binance Set To Re-enter Indian Market with $2 Million Fine Settlement","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"binance-set-to-re-enter-indian-market-with-2-million-fine-settlement","to_ping":"","pinged":"","post_modified":"2024-04-20 04:11:08","post_modified_gmt":"2024-04-19 18:11:08","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16460","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":16362,"post_author":"15","post_date":"2024-04-15 03:52:59","post_date_gmt":"2024-04-14 17:52:59","post_content":"\n

Hong Kong is on the brink of approving spot exchange-traded funds (ETFs) for bitcoin and ether, potentially by Monday, Bloomberg reports<\/a>. This anticipated approval is poised to influence the cryptocurrency markets in the near term. The ETFs, if launched, will enable investors to trade bitcoin and ether on regulated platforms, enhancing the legitimacy and stability of investing in cryptocurrencies.<\/p>\n\n\n\n

Bloomberg\u2019s sources suggest that if the Hong Kong Exchanges & Clearing can finalize the listing details promptly, trading could commence by the end of April. Harvest Global Investments and Bosera Asset Management, in collaboration with HashKey Capital, are frontrunners in receiving the first approvals for these spot cryptocurrency ETFs. This move could cement Hong Kong's position as a major hub for digital assets in Asia, particularly if it leads to a successful market response similar to the U.S., where the approval of bitcoin ETFs in January triggered a price rally, pushing bitcoin\u2019s value to $73,000.<\/p>\n\n\n\n

However, unlike in the U.S., where ether ETFs have not yet been approved, Hong Kong might take the lead in this area as well. The city's market regulator, the Securities and Futures Commission (SFC), has not commented on the developments. Similarly, inquiries to Harvest Global Investments, Bosera Asset Management, HashKey Capital, and HKEX received no immediate response.<\/p>\n\n\n\n

See Related: <\/em><\/strong>Hong Kong Invests Over $6.4M Into Web 3 Development<\/a><\/p>\n\n\n\n

Ether ETF Update<\/h2>\n\n\n\n

The U.S. Securities and Exchange Commission (SEC) has once again delayed its decision on the application for an Ether ETF. A new deadline is set for May 23<\/a>.<\/p>\n\n\n\n

Despite this, analysts remain cautiously optimistic, estimating a 60% chance<\/a> of eventual approval. These delays and the ongoing review process indicate that the SEC is maintaining a cautious approach towards the approval of Ether ETFs. It reflects the complexities involved in integrating such products into the financial system.<\/p>\n","post_title":"Hong Kong Set to Approve Bitcoin And Ether ETFs By Monday","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"hong-kong-set-to-approve-bitcoin-and-ether-etfs-by-monday","to_ping":"","pinged":"","post_modified":"2024-04-15 03:53:05","post_modified_gmt":"2024-04-14 17:53:05","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16362","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":16347,"post_author":"15","post_date":"2024-04-14 00:03:48","post_date_gmt":"2024-04-13 14:03:48","post_content":"\n

Bitfinex Securities El Salvador is initiating a tokenized debt offering to fund the development of a Hampton by Hilton hotel complex spanning 4,484 square meters at El Salvador International Airport.<\/p>\n\n\n\n

In January, Bitfinex Securities<\/a> became the inaugural regulated entity to obtain a license to operate in El Salvador under the country\u2019s newly enacted Digital Asset Securities Law. This move anticipated a surge in demand for regulated investment vehicles, following the successful introduction of U.S. spot bitcoin exchange-traded funds.<\/p>\n\n\n\n

At the time, the tokenized securities platform announced its acceptance of customer applications and outlined a pipeline of potential financial asset issuances projected to launch in the year's first half.<\/p>\n\n\n\n

The tokenized debt, issued by El Salvadoran firm Inversiones Laguardia S.A. de C.V., is poised to be the inaugural token to trade on the platform. Utilizing the Liquid Network, a Bitcoin sidechain, the token will be denoted as HILSV and traded against U.S. dollars and Tether\u2019s USDT stablecoin.<\/p>\n\n\n\n

See Related: <\/em><\/strong>El Salvador Businesses Barely Impacted By Bitcoins Legality<\/a><\/p>\n\n\n\n

El Salvador Leads The Way<\/h2>\n\n\n\n


El Salvador stands at the forefront of cryptocurrency adoption wherein Bitcoin is recognized as legal tender. Since June 2021, it has been the first country to embrace Bitcoin alongside the US dollar for everyday transactions, making significant strides in the global crypto landscape. <\/p>\n\n\n\n

Under President Nayib Bukele, the government has initiated a groundbreaking project, where the state purchases one Bitcoin daily to bolster its reserves. <\/p>\n","post_title":"Bitfinex Securities Launches Tokenized Debt Offering For A Hotel In El Salvador","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"bitfinex-securities-launches-tokenized-debt-offering-for-a-hotel-in-el-salvador","to_ping":"","pinged":"","post_modified":"2024-04-14 00:03:52","post_modified_gmt":"2024-04-13 14:03:52","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16347","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 … 4 5 6 7 8 … 20

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

The SEC's approval of 11 spot BTC ETFs in January has led to significant success for these products. This success mirrors the soaring price of Bitcoin, which reached an all-time high of $73,747 in March. The Bitcoin spot ETF issuers now hold 847,427 BTC which is at $50 billion at the time of writing. <\/p>\n\n\n\n

Hong Kong recently approved and started trading Bitcoin and Ethereum spot ETF. <\/p>\n","post_title":"Wells Fargo Dips Toes Into Crypto With Bitcoin ETF Investments","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"wells-fargo-dips-toes-into-crypto-with-bitcoin-etf-investments","to_ping":"","pinged":"","post_modified":"2024-05-12 20:19:23","post_modified_gmt":"2024-05-12 10:19:23","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16856","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":16761,"post_author":"15","post_date":"2024-05-06 23:24:50","post_date_gmt":"2024-05-06 13:24:50","post_content":"\n

The Grayscale Bitcoin Trust ETF ($GBTC) recently experienced a shift in its financial trend. It registers an inflow of $63 million and breaks an 11-week rally of net losses according to the Farside Investors<\/a>.<\/p>\n\n\n\n

\"Bitcoin
Since the inception of Bitcoin spot ETF in the U.S., GBTC has recorded outflows every single trading day.<\/figcaption><\/figure>\n\n\n\n

Bloomberg ETF analyst Eric Balchunas expressed his surprise<\/a> on Twitter, stating, \"Holy crap $GBTC had inflows today,\" and noted that their nearly 80-day streak of outflows had ended. He humorously remarked on the significance of this change, asking his followers to rate how significant this turnaround was for GBTC.<\/p>\n\n\n\n

Despite these challenges, GBTC remains the largest Bitcoin spot ETF, managing over $18.7 billion in assets and holding approximately 297,000 Bitcoin. However, consistent withdrawals have allowed new entrants like the BlackRock iShares Bitcoin Trust (IBIT), which now has $17.2 billion in assets, to narrow the gap.<\/p>\n\n\n\n

This news comes shortly after a downturn for IBIT, which saw a reduction of $37 million just a day earlier, as per Farside Investors. This event was part of a broader trend that saw the ETF market experience its worst day ever, with a total outflow of $563 million amid a decline in Bitcoin prices.<\/p>\n\n\n\n

See Related:<\/em><\/strong> GBTC Price Prediction after Judges Raised Hope for Investors In Favour Of Grayscale<\/a><\/p>\n\n\n\n

Bitcoin ETF in Asia<\/h2>\n\n\n\n

Hong Kong has recently made strides in the cryptocurrency market with the introduction of spot exchange-traded funds (ETFs) for Bitcoin and Ethereum. This development reflects Hong Kong's growing embrace of digital currencies and its ambition to become a major hub for cryptocurrency trading and finance. <\/p>\n\n\n\n

The trading started last April 30 and shows $12 million in trading volume on its first day. Bitcoin spot ETF recorded a $8.5 million and Ethereum spot ETF $2.5 million in trading volume. <\/p>\n","post_title":"Grayscale Bitcoin Trust Rebounds With $63 Million Influx After 80-Day Drought","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"grayscale-bitcoin-trust-rebounds-with-63-million-influx-after-80-day-drought","to_ping":"","pinged":"","post_modified":"2024-05-06 23:24:54","post_modified_gmt":"2024-05-06 13:24:54","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16761","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":16722,"post_author":"15","post_date":"2024-05-04 02:07:14","post_date_gmt":"2024-05-03 16:07:14","post_content":"\n

Elliptic, a blockchain analysis firm, released a study <\/a>conducted with the MIT-IBM Watson AI Lab on Wednesday. This study utilized a deep learning AI model to identify money laundering patterns within Bitcoin transactions and pinpoint wallets involved in criminal activities.<\/p>\n\n\n\n

Bitcoin's use of a decentralized public ledger, a fundamental aspect of the technology, facilitated the research, according to Elliptic. The collaboration between Elliptic and MIT-IBM leveraged AI to distinguish between legal and illegal transactions, tracking connections within the latter to expose potential money laundering activities.<\/p>\n\n\n\n

Elliptic stated, \u201cBlockchains provide fertile ground for machine learning techniques, thanks to the availability of both transaction data and information on the types of entities that are transacting, collected by us and others. This is in contrast to traditional finance where transaction data is typically siloed, making it challenging to apply these techniques.\u201d<\/em><\/p>\n\n\n\n

Elliptic clarified that instead of directly identifying transactions by illicit actors, the machine learning model is trained to recognize 'subgraphs'\u2014sequences of transactions that depict the laundering of Bitcoin. This method focuses more broadly on the multi-step laundering process rather than specific illegal actions on the blockchain.<\/p>\n\n\n\n

See Related:<\/em><\/strong> Binance's $3.9 Billion USDT Transfer Sparks Speculation Amidst CEO's Guilty Plea<\/a><\/p>\n\n\n\n

Money Laundering in 2024 Reports<\/h2>\n\n\n\n

In 2023, the volume of cryptocurrency involved in money laundering activities decreased significantly, with centralized exchanges continuing as the primary channels for such transactions. DeFi protocols and gambling services saw an uptick in use for laundering, yet they generally lack the anonymity preferred by launderers.<\/p>\n\n\n\n

Sophisticated criminals, particularly North Korea's Lazarus Group, adapted to law enforcement tactics by employing new mixers and utilizing cross-chain bridges to launder funds. These methods allow them to obfuscate the origins of illicit funds more effectively across multiple blockchain platforms, demonstrating a dynamic shift in the techniques used by high-level criminal enterprises to evade detection.<\/p>\n","post_title":"AI Powers New Tool To Detect Illegal Bitcoin Transactions, Study Shows","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"ai-powers-new-tool-to-detect-illegal-bitcoin-transactions-study-shows","to_ping":"","pinged":"","post_modified":"2024-05-04 02:07:20","post_modified_gmt":"2024-05-03 16:07:20","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16722","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":16491,"post_author":"15","post_date":"2024-04-21 10:09:53","post_date_gmt":"2024-04-21 00:09:53","post_content":"\n

Entrepreneur and Dallas Mavericks owner Mark Cuban recently discussed the implications of the upcoming Bitcoin halving. He emphasized its significant impact on miner revenues.<\/p>\n\n\n\n

During an interview <\/a>with The Block, Cuban pointed out that the halving will reduce mining rewards from 6.25 BTC to 3.125 BTC, effectively slashing the income for bitcoin miners by nearly half. However, Cuban expressed greater curiosity about the role artificial intelligence (AI) might play in the mining sector, especially concerning the demand for GPUs.<\/p>\n\n\n\n

Cuban highlighted the intense competition between AI's needs for GPUs and cryptocurrency mining's demands. He questioned whether the economic landscape of mining could be altered by the booming AI industry, asking if it might be more profitable to utilize GPUs for AI model training rather than mining. This issue primarily affects miners using GPUs for cryptocurrencies other than Bitcoin, which typically relies on ASIC machines.<\/p>\n\n\n\n

The intersection of AI and cryptocurrency mining is already seeing practical applications, with companies like Xive and Hive Digital Technologies expanding into AI to bolster their primary mining operations. <\/p>\n\n\n\n

See Related:<\/em><\/strong> Cryptocurrency Statistics And Insights (2022)<\/a><\/p>\n\n\n\n

Bitcoin Halving is Coming<\/h2>\n\n\n\n

Bitcoin halving is a significant event in the cryptocurrency world that occurs approximately every four years, or after 210,000 blocks are mined. During a halving, bitcoin miners' reward for verifying transactions and adding them to the blockchain is reduced by half. This mechanism was designed by Satoshi Nakamoto, the anonymous creator of Bitcoin, to control inflation by limiting the total number of bitcoins that can ever be in circulation to 21 million.<\/p>\n\n\n\n

As of writing, the price of Bitcoin is at $63,760, and 2 blocks remaining until the next Bitcoin halving.<\/p>\n","post_title":"Bitcoin Halving To Slash Miner Earnings, Cuban Eyes AI Shift","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"bitcoin-halving-to-slash-miner-earnings-cuban-eyes-ai-shift","to_ping":"","pinged":"","post_modified":"2024-04-21 10:10:00","post_modified_gmt":"2024-04-21 00:10:00","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16491","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":16460,"post_author":"15","post_date":"2024-04-19 23:38:06","post_date_gmt":"2024-04-19 13:38:06","post_content":"\n

Binance, the leading global cryptocurrency exchange, is set to make a comeback in India after agreeing to pay a $2 million penalty. This development follows a period of stringent regulatory scrutiny where the Indian government blocked nine cryptocurrency websites. They also prompted the removal of related apps from Apple and Google stores due to non-compliance with local laws. <\/p>\n\n\n\n

According to the Economic Times<\/a>, sources close to the matter indicate that Binance is restructuring its operations in South Asia. The cryptocurrency exchange is planning to fully comply with the Financial Intelligence Unit of India, which regulates the local trading of digital assets.<\/p>\n\n\n\n

The move comes as part of Binance's efforts to align with India's financial regulations, including adherence to anti-money laundering and taxation statutes. Before the crackdown, Binance held a commanding presence in the Indian market, with an estimated 90% of crypto holdings among Indian investors, totaling about $4 billion.<\/p>\n\n\n\n

See Related:<\/em><\/strong> Indian Parliament Passes A 30% Crypto Tax Law<\/a><\/p>\n\n\n\n

Nigeria Detains Binance Executives<\/h2>\n\n\n\n

Two months ago, Nigeria detained two executives of the Binance after they flew into the country. The country's Office of the National Security Adviser detained the two, and their passports were seized. <\/p>\n\n\n\n

Nigerian officials have leveled several charges against the cryptocurrency exchange Binance. The allegation includes exploiting the local economy, contributing to the devaluation of the Nigerian naira, and engaging in money laundering activities. They allege that Binance has been involved in manipulating the exchange rates by engaging in speculative actions and fixing rates. Furthermore, the Nigerian government has expressed concerns over $26 billion in transactions carried out on Binance's platform, which they report as being untraceable.<\/p>\n\n\n\n

Binance has denied any wrongdoing, but this is not the first time it has bumped heads with regulators.<\/p>\n","post_title":"Binance Set To Re-enter Indian Market with $2 Million Fine Settlement","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"binance-set-to-re-enter-indian-market-with-2-million-fine-settlement","to_ping":"","pinged":"","post_modified":"2024-04-20 04:11:08","post_modified_gmt":"2024-04-19 18:11:08","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16460","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":16362,"post_author":"15","post_date":"2024-04-15 03:52:59","post_date_gmt":"2024-04-14 17:52:59","post_content":"\n

Hong Kong is on the brink of approving spot exchange-traded funds (ETFs) for bitcoin and ether, potentially by Monday, Bloomberg reports<\/a>. This anticipated approval is poised to influence the cryptocurrency markets in the near term. The ETFs, if launched, will enable investors to trade bitcoin and ether on regulated platforms, enhancing the legitimacy and stability of investing in cryptocurrencies.<\/p>\n\n\n\n

Bloomberg\u2019s sources suggest that if the Hong Kong Exchanges & Clearing can finalize the listing details promptly, trading could commence by the end of April. Harvest Global Investments and Bosera Asset Management, in collaboration with HashKey Capital, are frontrunners in receiving the first approvals for these spot cryptocurrency ETFs. This move could cement Hong Kong's position as a major hub for digital assets in Asia, particularly if it leads to a successful market response similar to the U.S., where the approval of bitcoin ETFs in January triggered a price rally, pushing bitcoin\u2019s value to $73,000.<\/p>\n\n\n\n

However, unlike in the U.S., where ether ETFs have not yet been approved, Hong Kong might take the lead in this area as well. The city's market regulator, the Securities and Futures Commission (SFC), has not commented on the developments. Similarly, inquiries to Harvest Global Investments, Bosera Asset Management, HashKey Capital, and HKEX received no immediate response.<\/p>\n\n\n\n

See Related: <\/em><\/strong>Hong Kong Invests Over $6.4M Into Web 3 Development<\/a><\/p>\n\n\n\n

Ether ETF Update<\/h2>\n\n\n\n

The U.S. Securities and Exchange Commission (SEC) has once again delayed its decision on the application for an Ether ETF. A new deadline is set for May 23<\/a>.<\/p>\n\n\n\n

Despite this, analysts remain cautiously optimistic, estimating a 60% chance<\/a> of eventual approval. These delays and the ongoing review process indicate that the SEC is maintaining a cautious approach towards the approval of Ether ETFs. It reflects the complexities involved in integrating such products into the financial system.<\/p>\n","post_title":"Hong Kong Set to Approve Bitcoin And Ether ETFs By Monday","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"hong-kong-set-to-approve-bitcoin-and-ether-etfs-by-monday","to_ping":"","pinged":"","post_modified":"2024-04-15 03:53:05","post_modified_gmt":"2024-04-14 17:53:05","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16362","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":16347,"post_author":"15","post_date":"2024-04-14 00:03:48","post_date_gmt":"2024-04-13 14:03:48","post_content":"\n

Bitfinex Securities El Salvador is initiating a tokenized debt offering to fund the development of a Hampton by Hilton hotel complex spanning 4,484 square meters at El Salvador International Airport.<\/p>\n\n\n\n

In January, Bitfinex Securities<\/a> became the inaugural regulated entity to obtain a license to operate in El Salvador under the country\u2019s newly enacted Digital Asset Securities Law. This move anticipated a surge in demand for regulated investment vehicles, following the successful introduction of U.S. spot bitcoin exchange-traded funds.<\/p>\n\n\n\n

At the time, the tokenized securities platform announced its acceptance of customer applications and outlined a pipeline of potential financial asset issuances projected to launch in the year's first half.<\/p>\n\n\n\n

The tokenized debt, issued by El Salvadoran firm Inversiones Laguardia S.A. de C.V., is poised to be the inaugural token to trade on the platform. Utilizing the Liquid Network, a Bitcoin sidechain, the token will be denoted as HILSV and traded against U.S. dollars and Tether\u2019s USDT stablecoin.<\/p>\n\n\n\n

See Related: <\/em><\/strong>El Salvador Businesses Barely Impacted By Bitcoins Legality<\/a><\/p>\n\n\n\n

El Salvador Leads The Way<\/h2>\n\n\n\n


El Salvador stands at the forefront of cryptocurrency adoption wherein Bitcoin is recognized as legal tender. Since June 2021, it has been the first country to embrace Bitcoin alongside the US dollar for everyday transactions, making significant strides in the global crypto landscape. <\/p>\n\n\n\n

Under President Nayib Bukele, the government has initiated a groundbreaking project, where the state purchases one Bitcoin daily to bolster its reserves. <\/p>\n","post_title":"Bitfinex Securities Launches Tokenized Debt Offering For A Hotel In El Salvador","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"bitfinex-securities-launches-tokenized-debt-offering-for-a-hotel-in-el-salvador","to_ping":"","pinged":"","post_modified":"2024-04-14 00:03:52","post_modified_gmt":"2024-04-13 14:03:52","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16347","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

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\n

Bitcoin spot ETF era<\/h2>\n\n\n\n

The SEC's approval of 11 spot BTC ETFs in January has led to significant success for these products. This success mirrors the soaring price of Bitcoin, which reached an all-time high of $73,747 in March. The Bitcoin spot ETF issuers now hold 847,427 BTC which is at $50 billion at the time of writing. <\/p>\n\n\n\n

Hong Kong recently approved and started trading Bitcoin and Ethereum spot ETF. <\/p>\n","post_title":"Wells Fargo Dips Toes Into Crypto With Bitcoin ETF Investments","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"wells-fargo-dips-toes-into-crypto-with-bitcoin-etf-investments","to_ping":"","pinged":"","post_modified":"2024-05-12 20:19:23","post_modified_gmt":"2024-05-12 10:19:23","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16856","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":16761,"post_author":"15","post_date":"2024-05-06 23:24:50","post_date_gmt":"2024-05-06 13:24:50","post_content":"\n

The Grayscale Bitcoin Trust ETF ($GBTC) recently experienced a shift in its financial trend. It registers an inflow of $63 million and breaks an 11-week rally of net losses according to the Farside Investors<\/a>.<\/p>\n\n\n\n

\"Bitcoin
Since the inception of Bitcoin spot ETF in the U.S., GBTC has recorded outflows every single trading day.<\/figcaption><\/figure>\n\n\n\n

Bloomberg ETF analyst Eric Balchunas expressed his surprise<\/a> on Twitter, stating, \"Holy crap $GBTC had inflows today,\" and noted that their nearly 80-day streak of outflows had ended. He humorously remarked on the significance of this change, asking his followers to rate how significant this turnaround was for GBTC.<\/p>\n\n\n\n

Despite these challenges, GBTC remains the largest Bitcoin spot ETF, managing over $18.7 billion in assets and holding approximately 297,000 Bitcoin. However, consistent withdrawals have allowed new entrants like the BlackRock iShares Bitcoin Trust (IBIT), which now has $17.2 billion in assets, to narrow the gap.<\/p>\n\n\n\n

This news comes shortly after a downturn for IBIT, which saw a reduction of $37 million just a day earlier, as per Farside Investors. This event was part of a broader trend that saw the ETF market experience its worst day ever, with a total outflow of $563 million amid a decline in Bitcoin prices.<\/p>\n\n\n\n

See Related:<\/em><\/strong> GBTC Price Prediction after Judges Raised Hope for Investors In Favour Of Grayscale<\/a><\/p>\n\n\n\n

Bitcoin ETF in Asia<\/h2>\n\n\n\n

Hong Kong has recently made strides in the cryptocurrency market with the introduction of spot exchange-traded funds (ETFs) for Bitcoin and Ethereum. This development reflects Hong Kong's growing embrace of digital currencies and its ambition to become a major hub for cryptocurrency trading and finance. <\/p>\n\n\n\n

The trading started last April 30 and shows $12 million in trading volume on its first day. Bitcoin spot ETF recorded a $8.5 million and Ethereum spot ETF $2.5 million in trading volume. <\/p>\n","post_title":"Grayscale Bitcoin Trust Rebounds With $63 Million Influx After 80-Day Drought","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"grayscale-bitcoin-trust-rebounds-with-63-million-influx-after-80-day-drought","to_ping":"","pinged":"","post_modified":"2024-05-06 23:24:54","post_modified_gmt":"2024-05-06 13:24:54","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16761","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":16722,"post_author":"15","post_date":"2024-05-04 02:07:14","post_date_gmt":"2024-05-03 16:07:14","post_content":"\n

Elliptic, a blockchain analysis firm, released a study <\/a>conducted with the MIT-IBM Watson AI Lab on Wednesday. This study utilized a deep learning AI model to identify money laundering patterns within Bitcoin transactions and pinpoint wallets involved in criminal activities.<\/p>\n\n\n\n

Bitcoin's use of a decentralized public ledger, a fundamental aspect of the technology, facilitated the research, according to Elliptic. The collaboration between Elliptic and MIT-IBM leveraged AI to distinguish between legal and illegal transactions, tracking connections within the latter to expose potential money laundering activities.<\/p>\n\n\n\n

Elliptic stated, \u201cBlockchains provide fertile ground for machine learning techniques, thanks to the availability of both transaction data and information on the types of entities that are transacting, collected by us and others. This is in contrast to traditional finance where transaction data is typically siloed, making it challenging to apply these techniques.\u201d<\/em><\/p>\n\n\n\n

Elliptic clarified that instead of directly identifying transactions by illicit actors, the machine learning model is trained to recognize 'subgraphs'\u2014sequences of transactions that depict the laundering of Bitcoin. This method focuses more broadly on the multi-step laundering process rather than specific illegal actions on the blockchain.<\/p>\n\n\n\n

See Related:<\/em><\/strong> Binance's $3.9 Billion USDT Transfer Sparks Speculation Amidst CEO's Guilty Plea<\/a><\/p>\n\n\n\n

Money Laundering in 2024 Reports<\/h2>\n\n\n\n

In 2023, the volume of cryptocurrency involved in money laundering activities decreased significantly, with centralized exchanges continuing as the primary channels for such transactions. DeFi protocols and gambling services saw an uptick in use for laundering, yet they generally lack the anonymity preferred by launderers.<\/p>\n\n\n\n

Sophisticated criminals, particularly North Korea's Lazarus Group, adapted to law enforcement tactics by employing new mixers and utilizing cross-chain bridges to launder funds. These methods allow them to obfuscate the origins of illicit funds more effectively across multiple blockchain platforms, demonstrating a dynamic shift in the techniques used by high-level criminal enterprises to evade detection.<\/p>\n","post_title":"AI Powers New Tool To Detect Illegal Bitcoin Transactions, Study Shows","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"ai-powers-new-tool-to-detect-illegal-bitcoin-transactions-study-shows","to_ping":"","pinged":"","post_modified":"2024-05-04 02:07:20","post_modified_gmt":"2024-05-03 16:07:20","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16722","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":16491,"post_author":"15","post_date":"2024-04-21 10:09:53","post_date_gmt":"2024-04-21 00:09:53","post_content":"\n

Entrepreneur and Dallas Mavericks owner Mark Cuban recently discussed the implications of the upcoming Bitcoin halving. He emphasized its significant impact on miner revenues.<\/p>\n\n\n\n

During an interview <\/a>with The Block, Cuban pointed out that the halving will reduce mining rewards from 6.25 BTC to 3.125 BTC, effectively slashing the income for bitcoin miners by nearly half. However, Cuban expressed greater curiosity about the role artificial intelligence (AI) might play in the mining sector, especially concerning the demand for GPUs.<\/p>\n\n\n\n

Cuban highlighted the intense competition between AI's needs for GPUs and cryptocurrency mining's demands. He questioned whether the economic landscape of mining could be altered by the booming AI industry, asking if it might be more profitable to utilize GPUs for AI model training rather than mining. This issue primarily affects miners using GPUs for cryptocurrencies other than Bitcoin, which typically relies on ASIC machines.<\/p>\n\n\n\n

The intersection of AI and cryptocurrency mining is already seeing practical applications, with companies like Xive and Hive Digital Technologies expanding into AI to bolster their primary mining operations. <\/p>\n\n\n\n

See Related:<\/em><\/strong> Cryptocurrency Statistics And Insights (2022)<\/a><\/p>\n\n\n\n

Bitcoin Halving is Coming<\/h2>\n\n\n\n

Bitcoin halving is a significant event in the cryptocurrency world that occurs approximately every four years, or after 210,000 blocks are mined. During a halving, bitcoin miners' reward for verifying transactions and adding them to the blockchain is reduced by half. This mechanism was designed by Satoshi Nakamoto, the anonymous creator of Bitcoin, to control inflation by limiting the total number of bitcoins that can ever be in circulation to 21 million.<\/p>\n\n\n\n

As of writing, the price of Bitcoin is at $63,760, and 2 blocks remaining until the next Bitcoin halving.<\/p>\n","post_title":"Bitcoin Halving To Slash Miner Earnings, Cuban Eyes AI Shift","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"bitcoin-halving-to-slash-miner-earnings-cuban-eyes-ai-shift","to_ping":"","pinged":"","post_modified":"2024-04-21 10:10:00","post_modified_gmt":"2024-04-21 00:10:00","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16491","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":16460,"post_author":"15","post_date":"2024-04-19 23:38:06","post_date_gmt":"2024-04-19 13:38:06","post_content":"\n

Binance, the leading global cryptocurrency exchange, is set to make a comeback in India after agreeing to pay a $2 million penalty. This development follows a period of stringent regulatory scrutiny where the Indian government blocked nine cryptocurrency websites. They also prompted the removal of related apps from Apple and Google stores due to non-compliance with local laws. <\/p>\n\n\n\n

According to the Economic Times<\/a>, sources close to the matter indicate that Binance is restructuring its operations in South Asia. The cryptocurrency exchange is planning to fully comply with the Financial Intelligence Unit of India, which regulates the local trading of digital assets.<\/p>\n\n\n\n

The move comes as part of Binance's efforts to align with India's financial regulations, including adherence to anti-money laundering and taxation statutes. Before the crackdown, Binance held a commanding presence in the Indian market, with an estimated 90% of crypto holdings among Indian investors, totaling about $4 billion.<\/p>\n\n\n\n

See Related:<\/em><\/strong> Indian Parliament Passes A 30% Crypto Tax Law<\/a><\/p>\n\n\n\n

Nigeria Detains Binance Executives<\/h2>\n\n\n\n

Two months ago, Nigeria detained two executives of the Binance after they flew into the country. The country's Office of the National Security Adviser detained the two, and their passports were seized. <\/p>\n\n\n\n

Nigerian officials have leveled several charges against the cryptocurrency exchange Binance. The allegation includes exploiting the local economy, contributing to the devaluation of the Nigerian naira, and engaging in money laundering activities. They allege that Binance has been involved in manipulating the exchange rates by engaging in speculative actions and fixing rates. Furthermore, the Nigerian government has expressed concerns over $26 billion in transactions carried out on Binance's platform, which they report as being untraceable.<\/p>\n\n\n\n

Binance has denied any wrongdoing, but this is not the first time it has bumped heads with regulators.<\/p>\n","post_title":"Binance Set To Re-enter Indian Market with $2 Million Fine Settlement","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"binance-set-to-re-enter-indian-market-with-2-million-fine-settlement","to_ping":"","pinged":"","post_modified":"2024-04-20 04:11:08","post_modified_gmt":"2024-04-19 18:11:08","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16460","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":16362,"post_author":"15","post_date":"2024-04-15 03:52:59","post_date_gmt":"2024-04-14 17:52:59","post_content":"\n

Hong Kong is on the brink of approving spot exchange-traded funds (ETFs) for bitcoin and ether, potentially by Monday, Bloomberg reports<\/a>. This anticipated approval is poised to influence the cryptocurrency markets in the near term. The ETFs, if launched, will enable investors to trade bitcoin and ether on regulated platforms, enhancing the legitimacy and stability of investing in cryptocurrencies.<\/p>\n\n\n\n

Bloomberg\u2019s sources suggest that if the Hong Kong Exchanges & Clearing can finalize the listing details promptly, trading could commence by the end of April. Harvest Global Investments and Bosera Asset Management, in collaboration with HashKey Capital, are frontrunners in receiving the first approvals for these spot cryptocurrency ETFs. This move could cement Hong Kong's position as a major hub for digital assets in Asia, particularly if it leads to a successful market response similar to the U.S., where the approval of bitcoin ETFs in January triggered a price rally, pushing bitcoin\u2019s value to $73,000.<\/p>\n\n\n\n

However, unlike in the U.S., where ether ETFs have not yet been approved, Hong Kong might take the lead in this area as well. The city's market regulator, the Securities and Futures Commission (SFC), has not commented on the developments. Similarly, inquiries to Harvest Global Investments, Bosera Asset Management, HashKey Capital, and HKEX received no immediate response.<\/p>\n\n\n\n

See Related: <\/em><\/strong>Hong Kong Invests Over $6.4M Into Web 3 Development<\/a><\/p>\n\n\n\n

Ether ETF Update<\/h2>\n\n\n\n

The U.S. Securities and Exchange Commission (SEC) has once again delayed its decision on the application for an Ether ETF. A new deadline is set for May 23<\/a>.<\/p>\n\n\n\n

Despite this, analysts remain cautiously optimistic, estimating a 60% chance<\/a> of eventual approval. These delays and the ongoing review process indicate that the SEC is maintaining a cautious approach towards the approval of Ether ETFs. It reflects the complexities involved in integrating such products into the financial system.<\/p>\n","post_title":"Hong Kong Set to Approve Bitcoin And Ether ETFs By Monday","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"hong-kong-set-to-approve-bitcoin-and-ether-etfs-by-monday","to_ping":"","pinged":"","post_modified":"2024-04-15 03:53:05","post_modified_gmt":"2024-04-14 17:53:05","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16362","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":16347,"post_author":"15","post_date":"2024-04-14 00:03:48","post_date_gmt":"2024-04-13 14:03:48","post_content":"\n

Bitfinex Securities El Salvador is initiating a tokenized debt offering to fund the development of a Hampton by Hilton hotel complex spanning 4,484 square meters at El Salvador International Airport.<\/p>\n\n\n\n

In January, Bitfinex Securities<\/a> became the inaugural regulated entity to obtain a license to operate in El Salvador under the country\u2019s newly enacted Digital Asset Securities Law. This move anticipated a surge in demand for regulated investment vehicles, following the successful introduction of U.S. spot bitcoin exchange-traded funds.<\/p>\n\n\n\n

At the time, the tokenized securities platform announced its acceptance of customer applications and outlined a pipeline of potential financial asset issuances projected to launch in the year's first half.<\/p>\n\n\n\n

The tokenized debt, issued by El Salvadoran firm Inversiones Laguardia S.A. de C.V., is poised to be the inaugural token to trade on the platform. Utilizing the Liquid Network, a Bitcoin sidechain, the token will be denoted as HILSV and traded against U.S. dollars and Tether\u2019s USDT stablecoin.<\/p>\n\n\n\n

See Related: <\/em><\/strong>El Salvador Businesses Barely Impacted By Bitcoins Legality<\/a><\/p>\n\n\n\n

El Salvador Leads The Way<\/h2>\n\n\n\n


El Salvador stands at the forefront of cryptocurrency adoption wherein Bitcoin is recognized as legal tender. Since June 2021, it has been the first country to embrace Bitcoin alongside the US dollar for everyday transactions, making significant strides in the global crypto landscape. <\/p>\n\n\n\n

Under President Nayib Bukele, the government has initiated a groundbreaking project, where the state purchases one Bitcoin daily to bolster its reserves. <\/p>\n","post_title":"Bitfinex Securities Launches Tokenized Debt Offering For A Hotel In El Salvador","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"bitfinex-securities-launches-tokenized-debt-offering-for-a-hotel-in-el-salvador","to_ping":"","pinged":"","post_modified":"2024-04-14 00:03:52","post_modified_gmt":"2024-04-13 14:03:52","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16347","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 … 4 5 6 7 8 … 20

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

See Related:<\/em><\/strong> Bitcoin ETFs Hit Mainstream: BofA\u2019s Merrill, Wells Fargo Now Offer Spot Trading<\/a><\/p>\n\n\n\n

Bitcoin spot ETF era<\/h2>\n\n\n\n

The SEC's approval of 11 spot BTC ETFs in January has led to significant success for these products. This success mirrors the soaring price of Bitcoin, which reached an all-time high of $73,747 in March. The Bitcoin spot ETF issuers now hold 847,427 BTC which is at $50 billion at the time of writing. <\/p>\n\n\n\n

Hong Kong recently approved and started trading Bitcoin and Ethereum spot ETF. <\/p>\n","post_title":"Wells Fargo Dips Toes Into Crypto With Bitcoin ETF Investments","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"wells-fargo-dips-toes-into-crypto-with-bitcoin-etf-investments","to_ping":"","pinged":"","post_modified":"2024-05-12 20:19:23","post_modified_gmt":"2024-05-12 10:19:23","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16856","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":16761,"post_author":"15","post_date":"2024-05-06 23:24:50","post_date_gmt":"2024-05-06 13:24:50","post_content":"\n

The Grayscale Bitcoin Trust ETF ($GBTC) recently experienced a shift in its financial trend. It registers an inflow of $63 million and breaks an 11-week rally of net losses according to the Farside Investors<\/a>.<\/p>\n\n\n\n

\"Bitcoin
Since the inception of Bitcoin spot ETF in the U.S., GBTC has recorded outflows every single trading day.<\/figcaption><\/figure>\n\n\n\n

Bloomberg ETF analyst Eric Balchunas expressed his surprise<\/a> on Twitter, stating, \"Holy crap $GBTC had inflows today,\" and noted that their nearly 80-day streak of outflows had ended. He humorously remarked on the significance of this change, asking his followers to rate how significant this turnaround was for GBTC.<\/p>\n\n\n\n

Despite these challenges, GBTC remains the largest Bitcoin spot ETF, managing over $18.7 billion in assets and holding approximately 297,000 Bitcoin. However, consistent withdrawals have allowed new entrants like the BlackRock iShares Bitcoin Trust (IBIT), which now has $17.2 billion in assets, to narrow the gap.<\/p>\n\n\n\n

This news comes shortly after a downturn for IBIT, which saw a reduction of $37 million just a day earlier, as per Farside Investors. This event was part of a broader trend that saw the ETF market experience its worst day ever, with a total outflow of $563 million amid a decline in Bitcoin prices.<\/p>\n\n\n\n

See Related:<\/em><\/strong> GBTC Price Prediction after Judges Raised Hope for Investors In Favour Of Grayscale<\/a><\/p>\n\n\n\n

Bitcoin ETF in Asia<\/h2>\n\n\n\n

Hong Kong has recently made strides in the cryptocurrency market with the introduction of spot exchange-traded funds (ETFs) for Bitcoin and Ethereum. This development reflects Hong Kong's growing embrace of digital currencies and its ambition to become a major hub for cryptocurrency trading and finance. <\/p>\n\n\n\n

The trading started last April 30 and shows $12 million in trading volume on its first day. Bitcoin spot ETF recorded a $8.5 million and Ethereum spot ETF $2.5 million in trading volume. <\/p>\n","post_title":"Grayscale Bitcoin Trust Rebounds With $63 Million Influx After 80-Day Drought","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"grayscale-bitcoin-trust-rebounds-with-63-million-influx-after-80-day-drought","to_ping":"","pinged":"","post_modified":"2024-05-06 23:24:54","post_modified_gmt":"2024-05-06 13:24:54","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16761","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":16722,"post_author":"15","post_date":"2024-05-04 02:07:14","post_date_gmt":"2024-05-03 16:07:14","post_content":"\n

Elliptic, a blockchain analysis firm, released a study <\/a>conducted with the MIT-IBM Watson AI Lab on Wednesday. This study utilized a deep learning AI model to identify money laundering patterns within Bitcoin transactions and pinpoint wallets involved in criminal activities.<\/p>\n\n\n\n

Bitcoin's use of a decentralized public ledger, a fundamental aspect of the technology, facilitated the research, according to Elliptic. The collaboration between Elliptic and MIT-IBM leveraged AI to distinguish between legal and illegal transactions, tracking connections within the latter to expose potential money laundering activities.<\/p>\n\n\n\n

Elliptic stated, \u201cBlockchains provide fertile ground for machine learning techniques, thanks to the availability of both transaction data and information on the types of entities that are transacting, collected by us and others. This is in contrast to traditional finance where transaction data is typically siloed, making it challenging to apply these techniques.\u201d<\/em><\/p>\n\n\n\n

Elliptic clarified that instead of directly identifying transactions by illicit actors, the machine learning model is trained to recognize 'subgraphs'\u2014sequences of transactions that depict the laundering of Bitcoin. This method focuses more broadly on the multi-step laundering process rather than specific illegal actions on the blockchain.<\/p>\n\n\n\n

See Related:<\/em><\/strong> Binance's $3.9 Billion USDT Transfer Sparks Speculation Amidst CEO's Guilty Plea<\/a><\/p>\n\n\n\n

Money Laundering in 2024 Reports<\/h2>\n\n\n\n

In 2023, the volume of cryptocurrency involved in money laundering activities decreased significantly, with centralized exchanges continuing as the primary channels for such transactions. DeFi protocols and gambling services saw an uptick in use for laundering, yet they generally lack the anonymity preferred by launderers.<\/p>\n\n\n\n

Sophisticated criminals, particularly North Korea's Lazarus Group, adapted to law enforcement tactics by employing new mixers and utilizing cross-chain bridges to launder funds. These methods allow them to obfuscate the origins of illicit funds more effectively across multiple blockchain platforms, demonstrating a dynamic shift in the techniques used by high-level criminal enterprises to evade detection.<\/p>\n","post_title":"AI Powers New Tool To Detect Illegal Bitcoin Transactions, Study Shows","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"ai-powers-new-tool-to-detect-illegal-bitcoin-transactions-study-shows","to_ping":"","pinged":"","post_modified":"2024-05-04 02:07:20","post_modified_gmt":"2024-05-03 16:07:20","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16722","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":16491,"post_author":"15","post_date":"2024-04-21 10:09:53","post_date_gmt":"2024-04-21 00:09:53","post_content":"\n

Entrepreneur and Dallas Mavericks owner Mark Cuban recently discussed the implications of the upcoming Bitcoin halving. He emphasized its significant impact on miner revenues.<\/p>\n\n\n\n

During an interview <\/a>with The Block, Cuban pointed out that the halving will reduce mining rewards from 6.25 BTC to 3.125 BTC, effectively slashing the income for bitcoin miners by nearly half. However, Cuban expressed greater curiosity about the role artificial intelligence (AI) might play in the mining sector, especially concerning the demand for GPUs.<\/p>\n\n\n\n

Cuban highlighted the intense competition between AI's needs for GPUs and cryptocurrency mining's demands. He questioned whether the economic landscape of mining could be altered by the booming AI industry, asking if it might be more profitable to utilize GPUs for AI model training rather than mining. This issue primarily affects miners using GPUs for cryptocurrencies other than Bitcoin, which typically relies on ASIC machines.<\/p>\n\n\n\n

The intersection of AI and cryptocurrency mining is already seeing practical applications, with companies like Xive and Hive Digital Technologies expanding into AI to bolster their primary mining operations. <\/p>\n\n\n\n

See Related:<\/em><\/strong> Cryptocurrency Statistics And Insights (2022)<\/a><\/p>\n\n\n\n

Bitcoin Halving is Coming<\/h2>\n\n\n\n

Bitcoin halving is a significant event in the cryptocurrency world that occurs approximately every four years, or after 210,000 blocks are mined. During a halving, bitcoin miners' reward for verifying transactions and adding them to the blockchain is reduced by half. This mechanism was designed by Satoshi Nakamoto, the anonymous creator of Bitcoin, to control inflation by limiting the total number of bitcoins that can ever be in circulation to 21 million.<\/p>\n\n\n\n

As of writing, the price of Bitcoin is at $63,760, and 2 blocks remaining until the next Bitcoin halving.<\/p>\n","post_title":"Bitcoin Halving To Slash Miner Earnings, Cuban Eyes AI Shift","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"bitcoin-halving-to-slash-miner-earnings-cuban-eyes-ai-shift","to_ping":"","pinged":"","post_modified":"2024-04-21 10:10:00","post_modified_gmt":"2024-04-21 00:10:00","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16491","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":16460,"post_author":"15","post_date":"2024-04-19 23:38:06","post_date_gmt":"2024-04-19 13:38:06","post_content":"\n

Binance, the leading global cryptocurrency exchange, is set to make a comeback in India after agreeing to pay a $2 million penalty. This development follows a period of stringent regulatory scrutiny where the Indian government blocked nine cryptocurrency websites. They also prompted the removal of related apps from Apple and Google stores due to non-compliance with local laws. <\/p>\n\n\n\n

According to the Economic Times<\/a>, sources close to the matter indicate that Binance is restructuring its operations in South Asia. The cryptocurrency exchange is planning to fully comply with the Financial Intelligence Unit of India, which regulates the local trading of digital assets.<\/p>\n\n\n\n

The move comes as part of Binance's efforts to align with India's financial regulations, including adherence to anti-money laundering and taxation statutes. Before the crackdown, Binance held a commanding presence in the Indian market, with an estimated 90% of crypto holdings among Indian investors, totaling about $4 billion.<\/p>\n\n\n\n

See Related:<\/em><\/strong> Indian Parliament Passes A 30% Crypto Tax Law<\/a><\/p>\n\n\n\n

Nigeria Detains Binance Executives<\/h2>\n\n\n\n

Two months ago, Nigeria detained two executives of the Binance after they flew into the country. The country's Office of the National Security Adviser detained the two, and their passports were seized. <\/p>\n\n\n\n

Nigerian officials have leveled several charges against the cryptocurrency exchange Binance. The allegation includes exploiting the local economy, contributing to the devaluation of the Nigerian naira, and engaging in money laundering activities. They allege that Binance has been involved in manipulating the exchange rates by engaging in speculative actions and fixing rates. Furthermore, the Nigerian government has expressed concerns over $26 billion in transactions carried out on Binance's platform, which they report as being untraceable.<\/p>\n\n\n\n

Binance has denied any wrongdoing, but this is not the first time it has bumped heads with regulators.<\/p>\n","post_title":"Binance Set To Re-enter Indian Market with $2 Million Fine Settlement","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"binance-set-to-re-enter-indian-market-with-2-million-fine-settlement","to_ping":"","pinged":"","post_modified":"2024-04-20 04:11:08","post_modified_gmt":"2024-04-19 18:11:08","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16460","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":16362,"post_author":"15","post_date":"2024-04-15 03:52:59","post_date_gmt":"2024-04-14 17:52:59","post_content":"\n

Hong Kong is on the brink of approving spot exchange-traded funds (ETFs) for bitcoin and ether, potentially by Monday, Bloomberg reports<\/a>. This anticipated approval is poised to influence the cryptocurrency markets in the near term. The ETFs, if launched, will enable investors to trade bitcoin and ether on regulated platforms, enhancing the legitimacy and stability of investing in cryptocurrencies.<\/p>\n\n\n\n

Bloomberg\u2019s sources suggest that if the Hong Kong Exchanges & Clearing can finalize the listing details promptly, trading could commence by the end of April. Harvest Global Investments and Bosera Asset Management, in collaboration with HashKey Capital, are frontrunners in receiving the first approvals for these spot cryptocurrency ETFs. This move could cement Hong Kong's position as a major hub for digital assets in Asia, particularly if it leads to a successful market response similar to the U.S., where the approval of bitcoin ETFs in January triggered a price rally, pushing bitcoin\u2019s value to $73,000.<\/p>\n\n\n\n

However, unlike in the U.S., where ether ETFs have not yet been approved, Hong Kong might take the lead in this area as well. The city's market regulator, the Securities and Futures Commission (SFC), has not commented on the developments. Similarly, inquiries to Harvest Global Investments, Bosera Asset Management, HashKey Capital, and HKEX received no immediate response.<\/p>\n\n\n\n

See Related: <\/em><\/strong>Hong Kong Invests Over $6.4M Into Web 3 Development<\/a><\/p>\n\n\n\n

Ether ETF Update<\/h2>\n\n\n\n

The U.S. Securities and Exchange Commission (SEC) has once again delayed its decision on the application for an Ether ETF. A new deadline is set for May 23<\/a>.<\/p>\n\n\n\n

Despite this, analysts remain cautiously optimistic, estimating a 60% chance<\/a> of eventual approval. These delays and the ongoing review process indicate that the SEC is maintaining a cautious approach towards the approval of Ether ETFs. It reflects the complexities involved in integrating such products into the financial system.<\/p>\n","post_title":"Hong Kong Set to Approve Bitcoin And Ether ETFs By Monday","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"hong-kong-set-to-approve-bitcoin-and-ether-etfs-by-monday","to_ping":"","pinged":"","post_modified":"2024-04-15 03:53:05","post_modified_gmt":"2024-04-14 17:53:05","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16362","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":16347,"post_author":"15","post_date":"2024-04-14 00:03:48","post_date_gmt":"2024-04-13 14:03:48","post_content":"\n

Bitfinex Securities El Salvador is initiating a tokenized debt offering to fund the development of a Hampton by Hilton hotel complex spanning 4,484 square meters at El Salvador International Airport.<\/p>\n\n\n\n

In January, Bitfinex Securities<\/a> became the inaugural regulated entity to obtain a license to operate in El Salvador under the country\u2019s newly enacted Digital Asset Securities Law. This move anticipated a surge in demand for regulated investment vehicles, following the successful introduction of U.S. spot bitcoin exchange-traded funds.<\/p>\n\n\n\n

At the time, the tokenized securities platform announced its acceptance of customer applications and outlined a pipeline of potential financial asset issuances projected to launch in the year's first half.<\/p>\n\n\n\n

The tokenized debt, issued by El Salvadoran firm Inversiones Laguardia S.A. de C.V., is poised to be the inaugural token to trade on the platform. Utilizing the Liquid Network, a Bitcoin sidechain, the token will be denoted as HILSV and traded against U.S. dollars and Tether\u2019s USDT stablecoin.<\/p>\n\n\n\n

See Related: <\/em><\/strong>El Salvador Businesses Barely Impacted By Bitcoins Legality<\/a><\/p>\n\n\n\n

El Salvador Leads The Way<\/h2>\n\n\n\n


El Salvador stands at the forefront of cryptocurrency adoption wherein Bitcoin is recognized as legal tender. Since June 2021, it has been the first country to embrace Bitcoin alongside the US dollar for everyday transactions, making significant strides in the global crypto landscape. <\/p>\n\n\n\n

Under President Nayib Bukele, the government has initiated a groundbreaking project, where the state purchases one Bitcoin daily to bolster its reserves. <\/p>\n","post_title":"Bitfinex Securities Launches Tokenized Debt Offering For A Hotel In El Salvador","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"bitfinex-securities-launches-tokenized-debt-offering-for-a-hotel-in-el-salvador","to_ping":"","pinged":"","post_modified":"2024-04-14 00:03:52","post_modified_gmt":"2024-04-13 14:03:52","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16347","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 … 4 5 6 7 8 … 20

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

This disclosure comes after a report in February suggested that Wells Fargo, along with Bank of America's Merrill division, was providing its wealth management clients with exposure to Bitcoin ETFs via brokerage accounts. Wells Fargo has shown repeated interest in digital assets and even piloted its digital currency back in 2019.<\/p>\n\n\n\n

See Related:<\/em><\/strong> Bitcoin ETFs Hit Mainstream: BofA\u2019s Merrill, Wells Fargo Now Offer Spot Trading<\/a><\/p>\n\n\n\n

Bitcoin spot ETF era<\/h2>\n\n\n\n

The SEC's approval of 11 spot BTC ETFs in January has led to significant success for these products. This success mirrors the soaring price of Bitcoin, which reached an all-time high of $73,747 in March. The Bitcoin spot ETF issuers now hold 847,427 BTC which is at $50 billion at the time of writing. <\/p>\n\n\n\n

Hong Kong recently approved and started trading Bitcoin and Ethereum spot ETF. <\/p>\n","post_title":"Wells Fargo Dips Toes Into Crypto With Bitcoin ETF Investments","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"wells-fargo-dips-toes-into-crypto-with-bitcoin-etf-investments","to_ping":"","pinged":"","post_modified":"2024-05-12 20:19:23","post_modified_gmt":"2024-05-12 10:19:23","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16856","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":16761,"post_author":"15","post_date":"2024-05-06 23:24:50","post_date_gmt":"2024-05-06 13:24:50","post_content":"\n

The Grayscale Bitcoin Trust ETF ($GBTC) recently experienced a shift in its financial trend. It registers an inflow of $63 million and breaks an 11-week rally of net losses according to the Farside Investors<\/a>.<\/p>\n\n\n\n

\"Bitcoin
Since the inception of Bitcoin spot ETF in the U.S., GBTC has recorded outflows every single trading day.<\/figcaption><\/figure>\n\n\n\n

Bloomberg ETF analyst Eric Balchunas expressed his surprise<\/a> on Twitter, stating, \"Holy crap $GBTC had inflows today,\" and noted that their nearly 80-day streak of outflows had ended. He humorously remarked on the significance of this change, asking his followers to rate how significant this turnaround was for GBTC.<\/p>\n\n\n\n

Despite these challenges, GBTC remains the largest Bitcoin spot ETF, managing over $18.7 billion in assets and holding approximately 297,000 Bitcoin. However, consistent withdrawals have allowed new entrants like the BlackRock iShares Bitcoin Trust (IBIT), which now has $17.2 billion in assets, to narrow the gap.<\/p>\n\n\n\n

This news comes shortly after a downturn for IBIT, which saw a reduction of $37 million just a day earlier, as per Farside Investors. This event was part of a broader trend that saw the ETF market experience its worst day ever, with a total outflow of $563 million amid a decline in Bitcoin prices.<\/p>\n\n\n\n

See Related:<\/em><\/strong> GBTC Price Prediction after Judges Raised Hope for Investors In Favour Of Grayscale<\/a><\/p>\n\n\n\n

Bitcoin ETF in Asia<\/h2>\n\n\n\n

Hong Kong has recently made strides in the cryptocurrency market with the introduction of spot exchange-traded funds (ETFs) for Bitcoin and Ethereum. This development reflects Hong Kong's growing embrace of digital currencies and its ambition to become a major hub for cryptocurrency trading and finance. <\/p>\n\n\n\n

The trading started last April 30 and shows $12 million in trading volume on its first day. Bitcoin spot ETF recorded a $8.5 million and Ethereum spot ETF $2.5 million in trading volume. <\/p>\n","post_title":"Grayscale Bitcoin Trust Rebounds With $63 Million Influx After 80-Day Drought","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"grayscale-bitcoin-trust-rebounds-with-63-million-influx-after-80-day-drought","to_ping":"","pinged":"","post_modified":"2024-05-06 23:24:54","post_modified_gmt":"2024-05-06 13:24:54","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16761","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":16722,"post_author":"15","post_date":"2024-05-04 02:07:14","post_date_gmt":"2024-05-03 16:07:14","post_content":"\n

Elliptic, a blockchain analysis firm, released a study <\/a>conducted with the MIT-IBM Watson AI Lab on Wednesday. This study utilized a deep learning AI model to identify money laundering patterns within Bitcoin transactions and pinpoint wallets involved in criminal activities.<\/p>\n\n\n\n

Bitcoin's use of a decentralized public ledger, a fundamental aspect of the technology, facilitated the research, according to Elliptic. The collaboration between Elliptic and MIT-IBM leveraged AI to distinguish between legal and illegal transactions, tracking connections within the latter to expose potential money laundering activities.<\/p>\n\n\n\n

Elliptic stated, \u201cBlockchains provide fertile ground for machine learning techniques, thanks to the availability of both transaction data and information on the types of entities that are transacting, collected by us and others. This is in contrast to traditional finance where transaction data is typically siloed, making it challenging to apply these techniques.\u201d<\/em><\/p>\n\n\n\n

Elliptic clarified that instead of directly identifying transactions by illicit actors, the machine learning model is trained to recognize 'subgraphs'\u2014sequences of transactions that depict the laundering of Bitcoin. This method focuses more broadly on the multi-step laundering process rather than specific illegal actions on the blockchain.<\/p>\n\n\n\n

See Related:<\/em><\/strong> Binance's $3.9 Billion USDT Transfer Sparks Speculation Amidst CEO's Guilty Plea<\/a><\/p>\n\n\n\n

Money Laundering in 2024 Reports<\/h2>\n\n\n\n

In 2023, the volume of cryptocurrency involved in money laundering activities decreased significantly, with centralized exchanges continuing as the primary channels for such transactions. DeFi protocols and gambling services saw an uptick in use for laundering, yet they generally lack the anonymity preferred by launderers.<\/p>\n\n\n\n

Sophisticated criminals, particularly North Korea's Lazarus Group, adapted to law enforcement tactics by employing new mixers and utilizing cross-chain bridges to launder funds. These methods allow them to obfuscate the origins of illicit funds more effectively across multiple blockchain platforms, demonstrating a dynamic shift in the techniques used by high-level criminal enterprises to evade detection.<\/p>\n","post_title":"AI Powers New Tool To Detect Illegal Bitcoin Transactions, Study Shows","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"ai-powers-new-tool-to-detect-illegal-bitcoin-transactions-study-shows","to_ping":"","pinged":"","post_modified":"2024-05-04 02:07:20","post_modified_gmt":"2024-05-03 16:07:20","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16722","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":16491,"post_author":"15","post_date":"2024-04-21 10:09:53","post_date_gmt":"2024-04-21 00:09:53","post_content":"\n

Entrepreneur and Dallas Mavericks owner Mark Cuban recently discussed the implications of the upcoming Bitcoin halving. He emphasized its significant impact on miner revenues.<\/p>\n\n\n\n

During an interview <\/a>with The Block, Cuban pointed out that the halving will reduce mining rewards from 6.25 BTC to 3.125 BTC, effectively slashing the income for bitcoin miners by nearly half. However, Cuban expressed greater curiosity about the role artificial intelligence (AI) might play in the mining sector, especially concerning the demand for GPUs.<\/p>\n\n\n\n

Cuban highlighted the intense competition between AI's needs for GPUs and cryptocurrency mining's demands. He questioned whether the economic landscape of mining could be altered by the booming AI industry, asking if it might be more profitable to utilize GPUs for AI model training rather than mining. This issue primarily affects miners using GPUs for cryptocurrencies other than Bitcoin, which typically relies on ASIC machines.<\/p>\n\n\n\n

The intersection of AI and cryptocurrency mining is already seeing practical applications, with companies like Xive and Hive Digital Technologies expanding into AI to bolster their primary mining operations. <\/p>\n\n\n\n

See Related:<\/em><\/strong> Cryptocurrency Statistics And Insights (2022)<\/a><\/p>\n\n\n\n

Bitcoin Halving is Coming<\/h2>\n\n\n\n

Bitcoin halving is a significant event in the cryptocurrency world that occurs approximately every four years, or after 210,000 blocks are mined. During a halving, bitcoin miners' reward for verifying transactions and adding them to the blockchain is reduced by half. This mechanism was designed by Satoshi Nakamoto, the anonymous creator of Bitcoin, to control inflation by limiting the total number of bitcoins that can ever be in circulation to 21 million.<\/p>\n\n\n\n

As of writing, the price of Bitcoin is at $63,760, and 2 blocks remaining until the next Bitcoin halving.<\/p>\n","post_title":"Bitcoin Halving To Slash Miner Earnings, Cuban Eyes AI Shift","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"bitcoin-halving-to-slash-miner-earnings-cuban-eyes-ai-shift","to_ping":"","pinged":"","post_modified":"2024-04-21 10:10:00","post_modified_gmt":"2024-04-21 00:10:00","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16491","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":16460,"post_author":"15","post_date":"2024-04-19 23:38:06","post_date_gmt":"2024-04-19 13:38:06","post_content":"\n

Binance, the leading global cryptocurrency exchange, is set to make a comeback in India after agreeing to pay a $2 million penalty. This development follows a period of stringent regulatory scrutiny where the Indian government blocked nine cryptocurrency websites. They also prompted the removal of related apps from Apple and Google stores due to non-compliance with local laws. <\/p>\n\n\n\n

According to the Economic Times<\/a>, sources close to the matter indicate that Binance is restructuring its operations in South Asia. The cryptocurrency exchange is planning to fully comply with the Financial Intelligence Unit of India, which regulates the local trading of digital assets.<\/p>\n\n\n\n

The move comes as part of Binance's efforts to align with India's financial regulations, including adherence to anti-money laundering and taxation statutes. Before the crackdown, Binance held a commanding presence in the Indian market, with an estimated 90% of crypto holdings among Indian investors, totaling about $4 billion.<\/p>\n\n\n\n

See Related:<\/em><\/strong> Indian Parliament Passes A 30% Crypto Tax Law<\/a><\/p>\n\n\n\n

Nigeria Detains Binance Executives<\/h2>\n\n\n\n

Two months ago, Nigeria detained two executives of the Binance after they flew into the country. The country's Office of the National Security Adviser detained the two, and their passports were seized. <\/p>\n\n\n\n

Nigerian officials have leveled several charges against the cryptocurrency exchange Binance. The allegation includes exploiting the local economy, contributing to the devaluation of the Nigerian naira, and engaging in money laundering activities. They allege that Binance has been involved in manipulating the exchange rates by engaging in speculative actions and fixing rates. Furthermore, the Nigerian government has expressed concerns over $26 billion in transactions carried out on Binance's platform, which they report as being untraceable.<\/p>\n\n\n\n

Binance has denied any wrongdoing, but this is not the first time it has bumped heads with regulators.<\/p>\n","post_title":"Binance Set To Re-enter Indian Market with $2 Million Fine Settlement","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"binance-set-to-re-enter-indian-market-with-2-million-fine-settlement","to_ping":"","pinged":"","post_modified":"2024-04-20 04:11:08","post_modified_gmt":"2024-04-19 18:11:08","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16460","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":16362,"post_author":"15","post_date":"2024-04-15 03:52:59","post_date_gmt":"2024-04-14 17:52:59","post_content":"\n

Hong Kong is on the brink of approving spot exchange-traded funds (ETFs) for bitcoin and ether, potentially by Monday, Bloomberg reports<\/a>. This anticipated approval is poised to influence the cryptocurrency markets in the near term. The ETFs, if launched, will enable investors to trade bitcoin and ether on regulated platforms, enhancing the legitimacy and stability of investing in cryptocurrencies.<\/p>\n\n\n\n

Bloomberg\u2019s sources suggest that if the Hong Kong Exchanges & Clearing can finalize the listing details promptly, trading could commence by the end of April. Harvest Global Investments and Bosera Asset Management, in collaboration with HashKey Capital, are frontrunners in receiving the first approvals for these spot cryptocurrency ETFs. This move could cement Hong Kong's position as a major hub for digital assets in Asia, particularly if it leads to a successful market response similar to the U.S., where the approval of bitcoin ETFs in January triggered a price rally, pushing bitcoin\u2019s value to $73,000.<\/p>\n\n\n\n

However, unlike in the U.S., where ether ETFs have not yet been approved, Hong Kong might take the lead in this area as well. The city's market regulator, the Securities and Futures Commission (SFC), has not commented on the developments. Similarly, inquiries to Harvest Global Investments, Bosera Asset Management, HashKey Capital, and HKEX received no immediate response.<\/p>\n\n\n\n

See Related: <\/em><\/strong>Hong Kong Invests Over $6.4M Into Web 3 Development<\/a><\/p>\n\n\n\n

Ether ETF Update<\/h2>\n\n\n\n

The U.S. Securities and Exchange Commission (SEC) has once again delayed its decision on the application for an Ether ETF. A new deadline is set for May 23<\/a>.<\/p>\n\n\n\n

Despite this, analysts remain cautiously optimistic, estimating a 60% chance<\/a> of eventual approval. These delays and the ongoing review process indicate that the SEC is maintaining a cautious approach towards the approval of Ether ETFs. It reflects the complexities involved in integrating such products into the financial system.<\/p>\n","post_title":"Hong Kong Set to Approve Bitcoin And Ether ETFs By Monday","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"hong-kong-set-to-approve-bitcoin-and-ether-etfs-by-monday","to_ping":"","pinged":"","post_modified":"2024-04-15 03:53:05","post_modified_gmt":"2024-04-14 17:53:05","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16362","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":16347,"post_author":"15","post_date":"2024-04-14 00:03:48","post_date_gmt":"2024-04-13 14:03:48","post_content":"\n

Bitfinex Securities El Salvador is initiating a tokenized debt offering to fund the development of a Hampton by Hilton hotel complex spanning 4,484 square meters at El Salvador International Airport.<\/p>\n\n\n\n

In January, Bitfinex Securities<\/a> became the inaugural regulated entity to obtain a license to operate in El Salvador under the country\u2019s newly enacted Digital Asset Securities Law. This move anticipated a surge in demand for regulated investment vehicles, following the successful introduction of U.S. spot bitcoin exchange-traded funds.<\/p>\n\n\n\n

At the time, the tokenized securities platform announced its acceptance of customer applications and outlined a pipeline of potential financial asset issuances projected to launch in the year's first half.<\/p>\n\n\n\n

The tokenized debt, issued by El Salvadoran firm Inversiones Laguardia S.A. de C.V., is poised to be the inaugural token to trade on the platform. Utilizing the Liquid Network, a Bitcoin sidechain, the token will be denoted as HILSV and traded against U.S. dollars and Tether\u2019s USDT stablecoin.<\/p>\n\n\n\n

See Related: <\/em><\/strong>El Salvador Businesses Barely Impacted By Bitcoins Legality<\/a><\/p>\n\n\n\n

El Salvador Leads The Way<\/h2>\n\n\n\n


El Salvador stands at the forefront of cryptocurrency adoption wherein Bitcoin is recognized as legal tender. Since June 2021, it has been the first country to embrace Bitcoin alongside the US dollar for everyday transactions, making significant strides in the global crypto landscape. <\/p>\n\n\n\n

Under President Nayib Bukele, the government has initiated a groundbreaking project, where the state purchases one Bitcoin daily to bolster its reserves. <\/p>\n","post_title":"Bitfinex Securities Launches Tokenized Debt Offering For A Hotel In El Salvador","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"bitfinex-securities-launches-tokenized-debt-offering-for-a-hotel-in-el-salvador","to_ping":"","pinged":"","post_modified":"2024-04-14 00:03:52","post_modified_gmt":"2024-04-13 14:03:52","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16347","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 … 4 5 6 7 8 … 20

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

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ADVERTISEMENT
\n

Despite these investments, Wells Fargo's exposure to Bitcoin ETFs remains relatively small. The filing indicates that its investment in GBTC amounts to $141,817, while its investment in ProShares is under $1,200. The exposure to Bitcoin Depot stands at just $99.<\/p>\n\n\n\n

This disclosure comes after a report in February suggested that Wells Fargo, along with Bank of America's Merrill division, was providing its wealth management clients with exposure to Bitcoin ETFs via brokerage accounts. Wells Fargo has shown repeated interest in digital assets and even piloted its digital currency back in 2019.<\/p>\n\n\n\n

See Related:<\/em><\/strong> Bitcoin ETFs Hit Mainstream: BofA\u2019s Merrill, Wells Fargo Now Offer Spot Trading<\/a><\/p>\n\n\n\n

Bitcoin spot ETF era<\/h2>\n\n\n\n

The SEC's approval of 11 spot BTC ETFs in January has led to significant success for these products. This success mirrors the soaring price of Bitcoin, which reached an all-time high of $73,747 in March. The Bitcoin spot ETF issuers now hold 847,427 BTC which is at $50 billion at the time of writing. <\/p>\n\n\n\n

Hong Kong recently approved and started trading Bitcoin and Ethereum spot ETF. <\/p>\n","post_title":"Wells Fargo Dips Toes Into Crypto With Bitcoin ETF Investments","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"wells-fargo-dips-toes-into-crypto-with-bitcoin-etf-investments","to_ping":"","pinged":"","post_modified":"2024-05-12 20:19:23","post_modified_gmt":"2024-05-12 10:19:23","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16856","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":16761,"post_author":"15","post_date":"2024-05-06 23:24:50","post_date_gmt":"2024-05-06 13:24:50","post_content":"\n

The Grayscale Bitcoin Trust ETF ($GBTC) recently experienced a shift in its financial trend. It registers an inflow of $63 million and breaks an 11-week rally of net losses according to the Farside Investors<\/a>.<\/p>\n\n\n\n

\"Bitcoin
Since the inception of Bitcoin spot ETF in the U.S., GBTC has recorded outflows every single trading day.<\/figcaption><\/figure>\n\n\n\n

Bloomberg ETF analyst Eric Balchunas expressed his surprise<\/a> on Twitter, stating, \"Holy crap $GBTC had inflows today,\" and noted that their nearly 80-day streak of outflows had ended. He humorously remarked on the significance of this change, asking his followers to rate how significant this turnaround was for GBTC.<\/p>\n\n\n\n

Despite these challenges, GBTC remains the largest Bitcoin spot ETF, managing over $18.7 billion in assets and holding approximately 297,000 Bitcoin. However, consistent withdrawals have allowed new entrants like the BlackRock iShares Bitcoin Trust (IBIT), which now has $17.2 billion in assets, to narrow the gap.<\/p>\n\n\n\n

This news comes shortly after a downturn for IBIT, which saw a reduction of $37 million just a day earlier, as per Farside Investors. This event was part of a broader trend that saw the ETF market experience its worst day ever, with a total outflow of $563 million amid a decline in Bitcoin prices.<\/p>\n\n\n\n

See Related:<\/em><\/strong> GBTC Price Prediction after Judges Raised Hope for Investors In Favour Of Grayscale<\/a><\/p>\n\n\n\n

Bitcoin ETF in Asia<\/h2>\n\n\n\n

Hong Kong has recently made strides in the cryptocurrency market with the introduction of spot exchange-traded funds (ETFs) for Bitcoin and Ethereum. This development reflects Hong Kong's growing embrace of digital currencies and its ambition to become a major hub for cryptocurrency trading and finance. <\/p>\n\n\n\n

The trading started last April 30 and shows $12 million in trading volume on its first day. Bitcoin spot ETF recorded a $8.5 million and Ethereum spot ETF $2.5 million in trading volume. <\/p>\n","post_title":"Grayscale Bitcoin Trust Rebounds With $63 Million Influx After 80-Day Drought","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"grayscale-bitcoin-trust-rebounds-with-63-million-influx-after-80-day-drought","to_ping":"","pinged":"","post_modified":"2024-05-06 23:24:54","post_modified_gmt":"2024-05-06 13:24:54","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16761","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":16722,"post_author":"15","post_date":"2024-05-04 02:07:14","post_date_gmt":"2024-05-03 16:07:14","post_content":"\n

Elliptic, a blockchain analysis firm, released a study <\/a>conducted with the MIT-IBM Watson AI Lab on Wednesday. This study utilized a deep learning AI model to identify money laundering patterns within Bitcoin transactions and pinpoint wallets involved in criminal activities.<\/p>\n\n\n\n

Bitcoin's use of a decentralized public ledger, a fundamental aspect of the technology, facilitated the research, according to Elliptic. The collaboration between Elliptic and MIT-IBM leveraged AI to distinguish between legal and illegal transactions, tracking connections within the latter to expose potential money laundering activities.<\/p>\n\n\n\n

Elliptic stated, \u201cBlockchains provide fertile ground for machine learning techniques, thanks to the availability of both transaction data and information on the types of entities that are transacting, collected by us and others. This is in contrast to traditional finance where transaction data is typically siloed, making it challenging to apply these techniques.\u201d<\/em><\/p>\n\n\n\n

Elliptic clarified that instead of directly identifying transactions by illicit actors, the machine learning model is trained to recognize 'subgraphs'\u2014sequences of transactions that depict the laundering of Bitcoin. This method focuses more broadly on the multi-step laundering process rather than specific illegal actions on the blockchain.<\/p>\n\n\n\n

See Related:<\/em><\/strong> Binance's $3.9 Billion USDT Transfer Sparks Speculation Amidst CEO's Guilty Plea<\/a><\/p>\n\n\n\n

Money Laundering in 2024 Reports<\/h2>\n\n\n\n

In 2023, the volume of cryptocurrency involved in money laundering activities decreased significantly, with centralized exchanges continuing as the primary channels for such transactions. DeFi protocols and gambling services saw an uptick in use for laundering, yet they generally lack the anonymity preferred by launderers.<\/p>\n\n\n\n

Sophisticated criminals, particularly North Korea's Lazarus Group, adapted to law enforcement tactics by employing new mixers and utilizing cross-chain bridges to launder funds. These methods allow them to obfuscate the origins of illicit funds more effectively across multiple blockchain platforms, demonstrating a dynamic shift in the techniques used by high-level criminal enterprises to evade detection.<\/p>\n","post_title":"AI Powers New Tool To Detect Illegal Bitcoin Transactions, Study Shows","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"ai-powers-new-tool-to-detect-illegal-bitcoin-transactions-study-shows","to_ping":"","pinged":"","post_modified":"2024-05-04 02:07:20","post_modified_gmt":"2024-05-03 16:07:20","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16722","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":16491,"post_author":"15","post_date":"2024-04-21 10:09:53","post_date_gmt":"2024-04-21 00:09:53","post_content":"\n

Entrepreneur and Dallas Mavericks owner Mark Cuban recently discussed the implications of the upcoming Bitcoin halving. He emphasized its significant impact on miner revenues.<\/p>\n\n\n\n

During an interview <\/a>with The Block, Cuban pointed out that the halving will reduce mining rewards from 6.25 BTC to 3.125 BTC, effectively slashing the income for bitcoin miners by nearly half. However, Cuban expressed greater curiosity about the role artificial intelligence (AI) might play in the mining sector, especially concerning the demand for GPUs.<\/p>\n\n\n\n

Cuban highlighted the intense competition between AI's needs for GPUs and cryptocurrency mining's demands. He questioned whether the economic landscape of mining could be altered by the booming AI industry, asking if it might be more profitable to utilize GPUs for AI model training rather than mining. This issue primarily affects miners using GPUs for cryptocurrencies other than Bitcoin, which typically relies on ASIC machines.<\/p>\n\n\n\n

The intersection of AI and cryptocurrency mining is already seeing practical applications, with companies like Xive and Hive Digital Technologies expanding into AI to bolster their primary mining operations. <\/p>\n\n\n\n

See Related:<\/em><\/strong> Cryptocurrency Statistics And Insights (2022)<\/a><\/p>\n\n\n\n

Bitcoin Halving is Coming<\/h2>\n\n\n\n

Bitcoin halving is a significant event in the cryptocurrency world that occurs approximately every four years, or after 210,000 blocks are mined. During a halving, bitcoin miners' reward for verifying transactions and adding them to the blockchain is reduced by half. This mechanism was designed by Satoshi Nakamoto, the anonymous creator of Bitcoin, to control inflation by limiting the total number of bitcoins that can ever be in circulation to 21 million.<\/p>\n\n\n\n

As of writing, the price of Bitcoin is at $63,760, and 2 blocks remaining until the next Bitcoin halving.<\/p>\n","post_title":"Bitcoin Halving To Slash Miner Earnings, Cuban Eyes AI Shift","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"bitcoin-halving-to-slash-miner-earnings-cuban-eyes-ai-shift","to_ping":"","pinged":"","post_modified":"2024-04-21 10:10:00","post_modified_gmt":"2024-04-21 00:10:00","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16491","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":16460,"post_author":"15","post_date":"2024-04-19 23:38:06","post_date_gmt":"2024-04-19 13:38:06","post_content":"\n

Binance, the leading global cryptocurrency exchange, is set to make a comeback in India after agreeing to pay a $2 million penalty. This development follows a period of stringent regulatory scrutiny where the Indian government blocked nine cryptocurrency websites. They also prompted the removal of related apps from Apple and Google stores due to non-compliance with local laws. <\/p>\n\n\n\n

According to the Economic Times<\/a>, sources close to the matter indicate that Binance is restructuring its operations in South Asia. The cryptocurrency exchange is planning to fully comply with the Financial Intelligence Unit of India, which regulates the local trading of digital assets.<\/p>\n\n\n\n

The move comes as part of Binance's efforts to align with India's financial regulations, including adherence to anti-money laundering and taxation statutes. Before the crackdown, Binance held a commanding presence in the Indian market, with an estimated 90% of crypto holdings among Indian investors, totaling about $4 billion.<\/p>\n\n\n\n

See Related:<\/em><\/strong> Indian Parliament Passes A 30% Crypto Tax Law<\/a><\/p>\n\n\n\n

Nigeria Detains Binance Executives<\/h2>\n\n\n\n

Two months ago, Nigeria detained two executives of the Binance after they flew into the country. The country's Office of the National Security Adviser detained the two, and their passports were seized. <\/p>\n\n\n\n

Nigerian officials have leveled several charges against the cryptocurrency exchange Binance. The allegation includes exploiting the local economy, contributing to the devaluation of the Nigerian naira, and engaging in money laundering activities. They allege that Binance has been involved in manipulating the exchange rates by engaging in speculative actions and fixing rates. Furthermore, the Nigerian government has expressed concerns over $26 billion in transactions carried out on Binance's platform, which they report as being untraceable.<\/p>\n\n\n\n

Binance has denied any wrongdoing, but this is not the first time it has bumped heads with regulators.<\/p>\n","post_title":"Binance Set To Re-enter Indian Market with $2 Million Fine Settlement","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"binance-set-to-re-enter-indian-market-with-2-million-fine-settlement","to_ping":"","pinged":"","post_modified":"2024-04-20 04:11:08","post_modified_gmt":"2024-04-19 18:11:08","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16460","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":16362,"post_author":"15","post_date":"2024-04-15 03:52:59","post_date_gmt":"2024-04-14 17:52:59","post_content":"\n

Hong Kong is on the brink of approving spot exchange-traded funds (ETFs) for bitcoin and ether, potentially by Monday, Bloomberg reports<\/a>. This anticipated approval is poised to influence the cryptocurrency markets in the near term. The ETFs, if launched, will enable investors to trade bitcoin and ether on regulated platforms, enhancing the legitimacy and stability of investing in cryptocurrencies.<\/p>\n\n\n\n

Bloomberg\u2019s sources suggest that if the Hong Kong Exchanges & Clearing can finalize the listing details promptly, trading could commence by the end of April. Harvest Global Investments and Bosera Asset Management, in collaboration with HashKey Capital, are frontrunners in receiving the first approvals for these spot cryptocurrency ETFs. This move could cement Hong Kong's position as a major hub for digital assets in Asia, particularly if it leads to a successful market response similar to the U.S., where the approval of bitcoin ETFs in January triggered a price rally, pushing bitcoin\u2019s value to $73,000.<\/p>\n\n\n\n

However, unlike in the U.S., where ether ETFs have not yet been approved, Hong Kong might take the lead in this area as well. The city's market regulator, the Securities and Futures Commission (SFC), has not commented on the developments. Similarly, inquiries to Harvest Global Investments, Bosera Asset Management, HashKey Capital, and HKEX received no immediate response.<\/p>\n\n\n\n

See Related: <\/em><\/strong>Hong Kong Invests Over $6.4M Into Web 3 Development<\/a><\/p>\n\n\n\n

Ether ETF Update<\/h2>\n\n\n\n

The U.S. Securities and Exchange Commission (SEC) has once again delayed its decision on the application for an Ether ETF. A new deadline is set for May 23<\/a>.<\/p>\n\n\n\n

Despite this, analysts remain cautiously optimistic, estimating a 60% chance<\/a> of eventual approval. These delays and the ongoing review process indicate that the SEC is maintaining a cautious approach towards the approval of Ether ETFs. It reflects the complexities involved in integrating such products into the financial system.<\/p>\n","post_title":"Hong Kong Set to Approve Bitcoin And Ether ETFs By Monday","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"hong-kong-set-to-approve-bitcoin-and-ether-etfs-by-monday","to_ping":"","pinged":"","post_modified":"2024-04-15 03:53:05","post_modified_gmt":"2024-04-14 17:53:05","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16362","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":16347,"post_author":"15","post_date":"2024-04-14 00:03:48","post_date_gmt":"2024-04-13 14:03:48","post_content":"\n

Bitfinex Securities El Salvador is initiating a tokenized debt offering to fund the development of a Hampton by Hilton hotel complex spanning 4,484 square meters at El Salvador International Airport.<\/p>\n\n\n\n

In January, Bitfinex Securities<\/a> became the inaugural regulated entity to obtain a license to operate in El Salvador under the country\u2019s newly enacted Digital Asset Securities Law. This move anticipated a surge in demand for regulated investment vehicles, following the successful introduction of U.S. spot bitcoin exchange-traded funds.<\/p>\n\n\n\n

At the time, the tokenized securities platform announced its acceptance of customer applications and outlined a pipeline of potential financial asset issuances projected to launch in the year's first half.<\/p>\n\n\n\n

The tokenized debt, issued by El Salvadoran firm Inversiones Laguardia S.A. de C.V., is poised to be the inaugural token to trade on the platform. Utilizing the Liquid Network, a Bitcoin sidechain, the token will be denoted as HILSV and traded against U.S. dollars and Tether\u2019s USDT stablecoin.<\/p>\n\n\n\n

See Related: <\/em><\/strong>El Salvador Businesses Barely Impacted By Bitcoins Legality<\/a><\/p>\n\n\n\n

El Salvador Leads The Way<\/h2>\n\n\n\n


El Salvador stands at the forefront of cryptocurrency adoption wherein Bitcoin is recognized as legal tender. Since June 2021, it has been the first country to embrace Bitcoin alongside the US dollar for everyday transactions, making significant strides in the global crypto landscape. <\/p>\n\n\n\n

Under President Nayib Bukele, the government has initiated a groundbreaking project, where the state purchases one Bitcoin daily to bolster its reserves. <\/p>\n","post_title":"Bitfinex Securities Launches Tokenized Debt Offering For A Hotel In El Salvador","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"bitfinex-securities-launches-tokenized-debt-offering-for-a-hotel-in-el-salvador","to_ping":"","pinged":"","post_modified":"2024-04-14 00:03:52","post_modified_gmt":"2024-04-13 14:03:52","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16347","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 … 4 5 6 7 8 … 20

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

According to the filing <\/a>with the U.S. Securities and Exchange Commission (SEC), the bank has purchased shares of Grayscale's GBTC spot Bitcoin ETF and has exposure to Bitcoin Depot Inc., a Bitcoin ATM provider. Additionally, the filing shows that Wells Fargo has invested in the ProShares Bitcoin Strategy ETF (BITO), which offers investors exposure to BTC futures\u2014contracts speculating on the future price of the asset.<\/p>\n\n\n\n

Despite these investments, Wells Fargo's exposure to Bitcoin ETFs remains relatively small. The filing indicates that its investment in GBTC amounts to $141,817, while its investment in ProShares is under $1,200. The exposure to Bitcoin Depot stands at just $99.<\/p>\n\n\n\n

This disclosure comes after a report in February suggested that Wells Fargo, along with Bank of America's Merrill division, was providing its wealth management clients with exposure to Bitcoin ETFs via brokerage accounts. Wells Fargo has shown repeated interest in digital assets and even piloted its digital currency back in 2019.<\/p>\n\n\n\n

See Related:<\/em><\/strong> Bitcoin ETFs Hit Mainstream: BofA\u2019s Merrill, Wells Fargo Now Offer Spot Trading<\/a><\/p>\n\n\n\n

Bitcoin spot ETF era<\/h2>\n\n\n\n

The SEC's approval of 11 spot BTC ETFs in January has led to significant success for these products. This success mirrors the soaring price of Bitcoin, which reached an all-time high of $73,747 in March. The Bitcoin spot ETF issuers now hold 847,427 BTC which is at $50 billion at the time of writing. <\/p>\n\n\n\n

Hong Kong recently approved and started trading Bitcoin and Ethereum spot ETF. <\/p>\n","post_title":"Wells Fargo Dips Toes Into Crypto With Bitcoin ETF Investments","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"wells-fargo-dips-toes-into-crypto-with-bitcoin-etf-investments","to_ping":"","pinged":"","post_modified":"2024-05-12 20:19:23","post_modified_gmt":"2024-05-12 10:19:23","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16856","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":16761,"post_author":"15","post_date":"2024-05-06 23:24:50","post_date_gmt":"2024-05-06 13:24:50","post_content":"\n

The Grayscale Bitcoin Trust ETF ($GBTC) recently experienced a shift in its financial trend. It registers an inflow of $63 million and breaks an 11-week rally of net losses according to the Farside Investors<\/a>.<\/p>\n\n\n\n

\"Bitcoin
Since the inception of Bitcoin spot ETF in the U.S., GBTC has recorded outflows every single trading day.<\/figcaption><\/figure>\n\n\n\n

Bloomberg ETF analyst Eric Balchunas expressed his surprise<\/a> on Twitter, stating, \"Holy crap $GBTC had inflows today,\" and noted that their nearly 80-day streak of outflows had ended. He humorously remarked on the significance of this change, asking his followers to rate how significant this turnaround was for GBTC.<\/p>\n\n\n\n

Despite these challenges, GBTC remains the largest Bitcoin spot ETF, managing over $18.7 billion in assets and holding approximately 297,000 Bitcoin. However, consistent withdrawals have allowed new entrants like the BlackRock iShares Bitcoin Trust (IBIT), which now has $17.2 billion in assets, to narrow the gap.<\/p>\n\n\n\n

This news comes shortly after a downturn for IBIT, which saw a reduction of $37 million just a day earlier, as per Farside Investors. This event was part of a broader trend that saw the ETF market experience its worst day ever, with a total outflow of $563 million amid a decline in Bitcoin prices.<\/p>\n\n\n\n

See Related:<\/em><\/strong> GBTC Price Prediction after Judges Raised Hope for Investors In Favour Of Grayscale<\/a><\/p>\n\n\n\n

Bitcoin ETF in Asia<\/h2>\n\n\n\n

Hong Kong has recently made strides in the cryptocurrency market with the introduction of spot exchange-traded funds (ETFs) for Bitcoin and Ethereum. This development reflects Hong Kong's growing embrace of digital currencies and its ambition to become a major hub for cryptocurrency trading and finance. <\/p>\n\n\n\n

The trading started last April 30 and shows $12 million in trading volume on its first day. Bitcoin spot ETF recorded a $8.5 million and Ethereum spot ETF $2.5 million in trading volume. <\/p>\n","post_title":"Grayscale Bitcoin Trust Rebounds With $63 Million Influx After 80-Day Drought","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"grayscale-bitcoin-trust-rebounds-with-63-million-influx-after-80-day-drought","to_ping":"","pinged":"","post_modified":"2024-05-06 23:24:54","post_modified_gmt":"2024-05-06 13:24:54","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16761","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":16722,"post_author":"15","post_date":"2024-05-04 02:07:14","post_date_gmt":"2024-05-03 16:07:14","post_content":"\n

Elliptic, a blockchain analysis firm, released a study <\/a>conducted with the MIT-IBM Watson AI Lab on Wednesday. This study utilized a deep learning AI model to identify money laundering patterns within Bitcoin transactions and pinpoint wallets involved in criminal activities.<\/p>\n\n\n\n

Bitcoin's use of a decentralized public ledger, a fundamental aspect of the technology, facilitated the research, according to Elliptic. The collaboration between Elliptic and MIT-IBM leveraged AI to distinguish between legal and illegal transactions, tracking connections within the latter to expose potential money laundering activities.<\/p>\n\n\n\n

Elliptic stated, \u201cBlockchains provide fertile ground for machine learning techniques, thanks to the availability of both transaction data and information on the types of entities that are transacting, collected by us and others. This is in contrast to traditional finance where transaction data is typically siloed, making it challenging to apply these techniques.\u201d<\/em><\/p>\n\n\n\n

Elliptic clarified that instead of directly identifying transactions by illicit actors, the machine learning model is trained to recognize 'subgraphs'\u2014sequences of transactions that depict the laundering of Bitcoin. This method focuses more broadly on the multi-step laundering process rather than specific illegal actions on the blockchain.<\/p>\n\n\n\n

See Related:<\/em><\/strong> Binance's $3.9 Billion USDT Transfer Sparks Speculation Amidst CEO's Guilty Plea<\/a><\/p>\n\n\n\n

Money Laundering in 2024 Reports<\/h2>\n\n\n\n

In 2023, the volume of cryptocurrency involved in money laundering activities decreased significantly, with centralized exchanges continuing as the primary channels for such transactions. DeFi protocols and gambling services saw an uptick in use for laundering, yet they generally lack the anonymity preferred by launderers.<\/p>\n\n\n\n

Sophisticated criminals, particularly North Korea's Lazarus Group, adapted to law enforcement tactics by employing new mixers and utilizing cross-chain bridges to launder funds. These methods allow them to obfuscate the origins of illicit funds more effectively across multiple blockchain platforms, demonstrating a dynamic shift in the techniques used by high-level criminal enterprises to evade detection.<\/p>\n","post_title":"AI Powers New Tool To Detect Illegal Bitcoin Transactions, Study Shows","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"ai-powers-new-tool-to-detect-illegal-bitcoin-transactions-study-shows","to_ping":"","pinged":"","post_modified":"2024-05-04 02:07:20","post_modified_gmt":"2024-05-03 16:07:20","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16722","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":16491,"post_author":"15","post_date":"2024-04-21 10:09:53","post_date_gmt":"2024-04-21 00:09:53","post_content":"\n

Entrepreneur and Dallas Mavericks owner Mark Cuban recently discussed the implications of the upcoming Bitcoin halving. He emphasized its significant impact on miner revenues.<\/p>\n\n\n\n

During an interview <\/a>with The Block, Cuban pointed out that the halving will reduce mining rewards from 6.25 BTC to 3.125 BTC, effectively slashing the income for bitcoin miners by nearly half. However, Cuban expressed greater curiosity about the role artificial intelligence (AI) might play in the mining sector, especially concerning the demand for GPUs.<\/p>\n\n\n\n

Cuban highlighted the intense competition between AI's needs for GPUs and cryptocurrency mining's demands. He questioned whether the economic landscape of mining could be altered by the booming AI industry, asking if it might be more profitable to utilize GPUs for AI model training rather than mining. This issue primarily affects miners using GPUs for cryptocurrencies other than Bitcoin, which typically relies on ASIC machines.<\/p>\n\n\n\n

The intersection of AI and cryptocurrency mining is already seeing practical applications, with companies like Xive and Hive Digital Technologies expanding into AI to bolster their primary mining operations. <\/p>\n\n\n\n

See Related:<\/em><\/strong> Cryptocurrency Statistics And Insights (2022)<\/a><\/p>\n\n\n\n

Bitcoin Halving is Coming<\/h2>\n\n\n\n

Bitcoin halving is a significant event in the cryptocurrency world that occurs approximately every four years, or after 210,000 blocks are mined. During a halving, bitcoin miners' reward for verifying transactions and adding them to the blockchain is reduced by half. This mechanism was designed by Satoshi Nakamoto, the anonymous creator of Bitcoin, to control inflation by limiting the total number of bitcoins that can ever be in circulation to 21 million.<\/p>\n\n\n\n

As of writing, the price of Bitcoin is at $63,760, and 2 blocks remaining until the next Bitcoin halving.<\/p>\n","post_title":"Bitcoin Halving To Slash Miner Earnings, Cuban Eyes AI Shift","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"bitcoin-halving-to-slash-miner-earnings-cuban-eyes-ai-shift","to_ping":"","pinged":"","post_modified":"2024-04-21 10:10:00","post_modified_gmt":"2024-04-21 00:10:00","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16491","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":16460,"post_author":"15","post_date":"2024-04-19 23:38:06","post_date_gmt":"2024-04-19 13:38:06","post_content":"\n

Binance, the leading global cryptocurrency exchange, is set to make a comeback in India after agreeing to pay a $2 million penalty. This development follows a period of stringent regulatory scrutiny where the Indian government blocked nine cryptocurrency websites. They also prompted the removal of related apps from Apple and Google stores due to non-compliance with local laws. <\/p>\n\n\n\n

According to the Economic Times<\/a>, sources close to the matter indicate that Binance is restructuring its operations in South Asia. The cryptocurrency exchange is planning to fully comply with the Financial Intelligence Unit of India, which regulates the local trading of digital assets.<\/p>\n\n\n\n

The move comes as part of Binance's efforts to align with India's financial regulations, including adherence to anti-money laundering and taxation statutes. Before the crackdown, Binance held a commanding presence in the Indian market, with an estimated 90% of crypto holdings among Indian investors, totaling about $4 billion.<\/p>\n\n\n\n

See Related:<\/em><\/strong> Indian Parliament Passes A 30% Crypto Tax Law<\/a><\/p>\n\n\n\n

Nigeria Detains Binance Executives<\/h2>\n\n\n\n

Two months ago, Nigeria detained two executives of the Binance after they flew into the country. The country's Office of the National Security Adviser detained the two, and their passports were seized. <\/p>\n\n\n\n

Nigerian officials have leveled several charges against the cryptocurrency exchange Binance. The allegation includes exploiting the local economy, contributing to the devaluation of the Nigerian naira, and engaging in money laundering activities. They allege that Binance has been involved in manipulating the exchange rates by engaging in speculative actions and fixing rates. Furthermore, the Nigerian government has expressed concerns over $26 billion in transactions carried out on Binance's platform, which they report as being untraceable.<\/p>\n\n\n\n

Binance has denied any wrongdoing, but this is not the first time it has bumped heads with regulators.<\/p>\n","post_title":"Binance Set To Re-enter Indian Market with $2 Million Fine Settlement","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"binance-set-to-re-enter-indian-market-with-2-million-fine-settlement","to_ping":"","pinged":"","post_modified":"2024-04-20 04:11:08","post_modified_gmt":"2024-04-19 18:11:08","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16460","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":16362,"post_author":"15","post_date":"2024-04-15 03:52:59","post_date_gmt":"2024-04-14 17:52:59","post_content":"\n

Hong Kong is on the brink of approving spot exchange-traded funds (ETFs) for bitcoin and ether, potentially by Monday, Bloomberg reports<\/a>. This anticipated approval is poised to influence the cryptocurrency markets in the near term. The ETFs, if launched, will enable investors to trade bitcoin and ether on regulated platforms, enhancing the legitimacy and stability of investing in cryptocurrencies.<\/p>\n\n\n\n

Bloomberg\u2019s sources suggest that if the Hong Kong Exchanges & Clearing can finalize the listing details promptly, trading could commence by the end of April. Harvest Global Investments and Bosera Asset Management, in collaboration with HashKey Capital, are frontrunners in receiving the first approvals for these spot cryptocurrency ETFs. This move could cement Hong Kong's position as a major hub for digital assets in Asia, particularly if it leads to a successful market response similar to the U.S., where the approval of bitcoin ETFs in January triggered a price rally, pushing bitcoin\u2019s value to $73,000.<\/p>\n\n\n\n

However, unlike in the U.S., where ether ETFs have not yet been approved, Hong Kong might take the lead in this area as well. The city's market regulator, the Securities and Futures Commission (SFC), has not commented on the developments. Similarly, inquiries to Harvest Global Investments, Bosera Asset Management, HashKey Capital, and HKEX received no immediate response.<\/p>\n\n\n\n

See Related: <\/em><\/strong>Hong Kong Invests Over $6.4M Into Web 3 Development<\/a><\/p>\n\n\n\n

Ether ETF Update<\/h2>\n\n\n\n

The U.S. Securities and Exchange Commission (SEC) has once again delayed its decision on the application for an Ether ETF. A new deadline is set for May 23<\/a>.<\/p>\n\n\n\n

Despite this, analysts remain cautiously optimistic, estimating a 60% chance<\/a> of eventual approval. These delays and the ongoing review process indicate that the SEC is maintaining a cautious approach towards the approval of Ether ETFs. It reflects the complexities involved in integrating such products into the financial system.<\/p>\n","post_title":"Hong Kong Set to Approve Bitcoin And Ether ETFs By Monday","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"hong-kong-set-to-approve-bitcoin-and-ether-etfs-by-monday","to_ping":"","pinged":"","post_modified":"2024-04-15 03:53:05","post_modified_gmt":"2024-04-14 17:53:05","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16362","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":16347,"post_author":"15","post_date":"2024-04-14 00:03:48","post_date_gmt":"2024-04-13 14:03:48","post_content":"\n

Bitfinex Securities El Salvador is initiating a tokenized debt offering to fund the development of a Hampton by Hilton hotel complex spanning 4,484 square meters at El Salvador International Airport.<\/p>\n\n\n\n

In January, Bitfinex Securities<\/a> became the inaugural regulated entity to obtain a license to operate in El Salvador under the country\u2019s newly enacted Digital Asset Securities Law. This move anticipated a surge in demand for regulated investment vehicles, following the successful introduction of U.S. spot bitcoin exchange-traded funds.<\/p>\n\n\n\n

At the time, the tokenized securities platform announced its acceptance of customer applications and outlined a pipeline of potential financial asset issuances projected to launch in the year's first half.<\/p>\n\n\n\n

The tokenized debt, issued by El Salvadoran firm Inversiones Laguardia S.A. de C.V., is poised to be the inaugural token to trade on the platform. Utilizing the Liquid Network, a Bitcoin sidechain, the token will be denoted as HILSV and traded against U.S. dollars and Tether\u2019s USDT stablecoin.<\/p>\n\n\n\n

See Related: <\/em><\/strong>El Salvador Businesses Barely Impacted By Bitcoins Legality<\/a><\/p>\n\n\n\n

El Salvador Leads The Way<\/h2>\n\n\n\n


El Salvador stands at the forefront of cryptocurrency adoption wherein Bitcoin is recognized as legal tender. Since June 2021, it has been the first country to embrace Bitcoin alongside the US dollar for everyday transactions, making significant strides in the global crypto landscape. <\/p>\n\n\n\n

Under President Nayib Bukele, the government has initiated a groundbreaking project, where the state purchases one Bitcoin daily to bolster its reserves. <\/p>\n","post_title":"Bitfinex Securities Launches Tokenized Debt Offering For A Hotel In El Salvador","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"bitfinex-securities-launches-tokenized-debt-offering-for-a-hotel-in-el-salvador","to_ping":"","pinged":"","post_modified":"2024-04-14 00:03:52","post_modified_gmt":"2024-04-13 14:03:52","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16347","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

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\n

Wells Fargo, a prominent American bank, revealed its investments in several Bitcoin exchange-traded funds (ETFs) in a recent regulatory filing. This move aligns Wells Fargo with other institutions embracing crypto-based investment vehicles. <\/p>\n\n\n\n

According to the filing <\/a>with the U.S. Securities and Exchange Commission (SEC), the bank has purchased shares of Grayscale's GBTC spot Bitcoin ETF and has exposure to Bitcoin Depot Inc., a Bitcoin ATM provider. Additionally, the filing shows that Wells Fargo has invested in the ProShares Bitcoin Strategy ETF (BITO), which offers investors exposure to BTC futures\u2014contracts speculating on the future price of the asset.<\/p>\n\n\n\n

Despite these investments, Wells Fargo's exposure to Bitcoin ETFs remains relatively small. The filing indicates that its investment in GBTC amounts to $141,817, while its investment in ProShares is under $1,200. The exposure to Bitcoin Depot stands at just $99.<\/p>\n\n\n\n

This disclosure comes after a report in February suggested that Wells Fargo, along with Bank of America's Merrill division, was providing its wealth management clients with exposure to Bitcoin ETFs via brokerage accounts. Wells Fargo has shown repeated interest in digital assets and even piloted its digital currency back in 2019.<\/p>\n\n\n\n

See Related:<\/em><\/strong> Bitcoin ETFs Hit Mainstream: BofA\u2019s Merrill, Wells Fargo Now Offer Spot Trading<\/a><\/p>\n\n\n\n

Bitcoin spot ETF era<\/h2>\n\n\n\n

The SEC's approval of 11 spot BTC ETFs in January has led to significant success for these products. This success mirrors the soaring price of Bitcoin, which reached an all-time high of $73,747 in March. The Bitcoin spot ETF issuers now hold 847,427 BTC which is at $50 billion at the time of writing. <\/p>\n\n\n\n

Hong Kong recently approved and started trading Bitcoin and Ethereum spot ETF. <\/p>\n","post_title":"Wells Fargo Dips Toes Into Crypto With Bitcoin ETF Investments","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"wells-fargo-dips-toes-into-crypto-with-bitcoin-etf-investments","to_ping":"","pinged":"","post_modified":"2024-05-12 20:19:23","post_modified_gmt":"2024-05-12 10:19:23","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16856","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":16761,"post_author":"15","post_date":"2024-05-06 23:24:50","post_date_gmt":"2024-05-06 13:24:50","post_content":"\n

The Grayscale Bitcoin Trust ETF ($GBTC) recently experienced a shift in its financial trend. It registers an inflow of $63 million and breaks an 11-week rally of net losses according to the Farside Investors<\/a>.<\/p>\n\n\n\n

\"Bitcoin
Since the inception of Bitcoin spot ETF in the U.S., GBTC has recorded outflows every single trading day.<\/figcaption><\/figure>\n\n\n\n

Bloomberg ETF analyst Eric Balchunas expressed his surprise<\/a> on Twitter, stating, \"Holy crap $GBTC had inflows today,\" and noted that their nearly 80-day streak of outflows had ended. He humorously remarked on the significance of this change, asking his followers to rate how significant this turnaround was for GBTC.<\/p>\n\n\n\n

Despite these challenges, GBTC remains the largest Bitcoin spot ETF, managing over $18.7 billion in assets and holding approximately 297,000 Bitcoin. However, consistent withdrawals have allowed new entrants like the BlackRock iShares Bitcoin Trust (IBIT), which now has $17.2 billion in assets, to narrow the gap.<\/p>\n\n\n\n

This news comes shortly after a downturn for IBIT, which saw a reduction of $37 million just a day earlier, as per Farside Investors. This event was part of a broader trend that saw the ETF market experience its worst day ever, with a total outflow of $563 million amid a decline in Bitcoin prices.<\/p>\n\n\n\n

See Related:<\/em><\/strong> GBTC Price Prediction after Judges Raised Hope for Investors In Favour Of Grayscale<\/a><\/p>\n\n\n\n

Bitcoin ETF in Asia<\/h2>\n\n\n\n

Hong Kong has recently made strides in the cryptocurrency market with the introduction of spot exchange-traded funds (ETFs) for Bitcoin and Ethereum. This development reflects Hong Kong's growing embrace of digital currencies and its ambition to become a major hub for cryptocurrency trading and finance. <\/p>\n\n\n\n

The trading started last April 30 and shows $12 million in trading volume on its first day. Bitcoin spot ETF recorded a $8.5 million and Ethereum spot ETF $2.5 million in trading volume. <\/p>\n","post_title":"Grayscale Bitcoin Trust Rebounds With $63 Million Influx After 80-Day Drought","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"grayscale-bitcoin-trust-rebounds-with-63-million-influx-after-80-day-drought","to_ping":"","pinged":"","post_modified":"2024-05-06 23:24:54","post_modified_gmt":"2024-05-06 13:24:54","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16761","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":16722,"post_author":"15","post_date":"2024-05-04 02:07:14","post_date_gmt":"2024-05-03 16:07:14","post_content":"\n

Elliptic, a blockchain analysis firm, released a study <\/a>conducted with the MIT-IBM Watson AI Lab on Wednesday. This study utilized a deep learning AI model to identify money laundering patterns within Bitcoin transactions and pinpoint wallets involved in criminal activities.<\/p>\n\n\n\n

Bitcoin's use of a decentralized public ledger, a fundamental aspect of the technology, facilitated the research, according to Elliptic. The collaboration between Elliptic and MIT-IBM leveraged AI to distinguish between legal and illegal transactions, tracking connections within the latter to expose potential money laundering activities.<\/p>\n\n\n\n

Elliptic stated, \u201cBlockchains provide fertile ground for machine learning techniques, thanks to the availability of both transaction data and information on the types of entities that are transacting, collected by us and others. This is in contrast to traditional finance where transaction data is typically siloed, making it challenging to apply these techniques.\u201d<\/em><\/p>\n\n\n\n

Elliptic clarified that instead of directly identifying transactions by illicit actors, the machine learning model is trained to recognize 'subgraphs'\u2014sequences of transactions that depict the laundering of Bitcoin. This method focuses more broadly on the multi-step laundering process rather than specific illegal actions on the blockchain.<\/p>\n\n\n\n

See Related:<\/em><\/strong> Binance's $3.9 Billion USDT Transfer Sparks Speculation Amidst CEO's Guilty Plea<\/a><\/p>\n\n\n\n

Money Laundering in 2024 Reports<\/h2>\n\n\n\n

In 2023, the volume of cryptocurrency involved in money laundering activities decreased significantly, with centralized exchanges continuing as the primary channels for such transactions. DeFi protocols and gambling services saw an uptick in use for laundering, yet they generally lack the anonymity preferred by launderers.<\/p>\n\n\n\n

Sophisticated criminals, particularly North Korea's Lazarus Group, adapted to law enforcement tactics by employing new mixers and utilizing cross-chain bridges to launder funds. These methods allow them to obfuscate the origins of illicit funds more effectively across multiple blockchain platforms, demonstrating a dynamic shift in the techniques used by high-level criminal enterprises to evade detection.<\/p>\n","post_title":"AI Powers New Tool To Detect Illegal Bitcoin Transactions, Study Shows","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"ai-powers-new-tool-to-detect-illegal-bitcoin-transactions-study-shows","to_ping":"","pinged":"","post_modified":"2024-05-04 02:07:20","post_modified_gmt":"2024-05-03 16:07:20","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16722","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":16491,"post_author":"15","post_date":"2024-04-21 10:09:53","post_date_gmt":"2024-04-21 00:09:53","post_content":"\n

Entrepreneur and Dallas Mavericks owner Mark Cuban recently discussed the implications of the upcoming Bitcoin halving. He emphasized its significant impact on miner revenues.<\/p>\n\n\n\n

During an interview <\/a>with The Block, Cuban pointed out that the halving will reduce mining rewards from 6.25 BTC to 3.125 BTC, effectively slashing the income for bitcoin miners by nearly half. However, Cuban expressed greater curiosity about the role artificial intelligence (AI) might play in the mining sector, especially concerning the demand for GPUs.<\/p>\n\n\n\n

Cuban highlighted the intense competition between AI's needs for GPUs and cryptocurrency mining's demands. He questioned whether the economic landscape of mining could be altered by the booming AI industry, asking if it might be more profitable to utilize GPUs for AI model training rather than mining. This issue primarily affects miners using GPUs for cryptocurrencies other than Bitcoin, which typically relies on ASIC machines.<\/p>\n\n\n\n

The intersection of AI and cryptocurrency mining is already seeing practical applications, with companies like Xive and Hive Digital Technologies expanding into AI to bolster their primary mining operations. <\/p>\n\n\n\n

See Related:<\/em><\/strong> Cryptocurrency Statistics And Insights (2022)<\/a><\/p>\n\n\n\n

Bitcoin Halving is Coming<\/h2>\n\n\n\n

Bitcoin halving is a significant event in the cryptocurrency world that occurs approximately every four years, or after 210,000 blocks are mined. During a halving, bitcoin miners' reward for verifying transactions and adding them to the blockchain is reduced by half. This mechanism was designed by Satoshi Nakamoto, the anonymous creator of Bitcoin, to control inflation by limiting the total number of bitcoins that can ever be in circulation to 21 million.<\/p>\n\n\n\n

As of writing, the price of Bitcoin is at $63,760, and 2 blocks remaining until the next Bitcoin halving.<\/p>\n","post_title":"Bitcoin Halving To Slash Miner Earnings, Cuban Eyes AI Shift","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"bitcoin-halving-to-slash-miner-earnings-cuban-eyes-ai-shift","to_ping":"","pinged":"","post_modified":"2024-04-21 10:10:00","post_modified_gmt":"2024-04-21 00:10:00","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16491","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":16460,"post_author":"15","post_date":"2024-04-19 23:38:06","post_date_gmt":"2024-04-19 13:38:06","post_content":"\n

Binance, the leading global cryptocurrency exchange, is set to make a comeback in India after agreeing to pay a $2 million penalty. This development follows a period of stringent regulatory scrutiny where the Indian government blocked nine cryptocurrency websites. They also prompted the removal of related apps from Apple and Google stores due to non-compliance with local laws. <\/p>\n\n\n\n

According to the Economic Times<\/a>, sources close to the matter indicate that Binance is restructuring its operations in South Asia. The cryptocurrency exchange is planning to fully comply with the Financial Intelligence Unit of India, which regulates the local trading of digital assets.<\/p>\n\n\n\n

The move comes as part of Binance's efforts to align with India's financial regulations, including adherence to anti-money laundering and taxation statutes. Before the crackdown, Binance held a commanding presence in the Indian market, with an estimated 90% of crypto holdings among Indian investors, totaling about $4 billion.<\/p>\n\n\n\n

See Related:<\/em><\/strong> Indian Parliament Passes A 30% Crypto Tax Law<\/a><\/p>\n\n\n\n

Nigeria Detains Binance Executives<\/h2>\n\n\n\n

Two months ago, Nigeria detained two executives of the Binance after they flew into the country. The country's Office of the National Security Adviser detained the two, and their passports were seized. <\/p>\n\n\n\n

Nigerian officials have leveled several charges against the cryptocurrency exchange Binance. The allegation includes exploiting the local economy, contributing to the devaluation of the Nigerian naira, and engaging in money laundering activities. They allege that Binance has been involved in manipulating the exchange rates by engaging in speculative actions and fixing rates. Furthermore, the Nigerian government has expressed concerns over $26 billion in transactions carried out on Binance's platform, which they report as being untraceable.<\/p>\n\n\n\n

Binance has denied any wrongdoing, but this is not the first time it has bumped heads with regulators.<\/p>\n","post_title":"Binance Set To Re-enter Indian Market with $2 Million Fine Settlement","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"binance-set-to-re-enter-indian-market-with-2-million-fine-settlement","to_ping":"","pinged":"","post_modified":"2024-04-20 04:11:08","post_modified_gmt":"2024-04-19 18:11:08","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16460","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":16362,"post_author":"15","post_date":"2024-04-15 03:52:59","post_date_gmt":"2024-04-14 17:52:59","post_content":"\n

Hong Kong is on the brink of approving spot exchange-traded funds (ETFs) for bitcoin and ether, potentially by Monday, Bloomberg reports<\/a>. This anticipated approval is poised to influence the cryptocurrency markets in the near term. The ETFs, if launched, will enable investors to trade bitcoin and ether on regulated platforms, enhancing the legitimacy and stability of investing in cryptocurrencies.<\/p>\n\n\n\n

Bloomberg\u2019s sources suggest that if the Hong Kong Exchanges & Clearing can finalize the listing details promptly, trading could commence by the end of April. Harvest Global Investments and Bosera Asset Management, in collaboration with HashKey Capital, are frontrunners in receiving the first approvals for these spot cryptocurrency ETFs. This move could cement Hong Kong's position as a major hub for digital assets in Asia, particularly if it leads to a successful market response similar to the U.S., where the approval of bitcoin ETFs in January triggered a price rally, pushing bitcoin\u2019s value to $73,000.<\/p>\n\n\n\n

However, unlike in the U.S., where ether ETFs have not yet been approved, Hong Kong might take the lead in this area as well. The city's market regulator, the Securities and Futures Commission (SFC), has not commented on the developments. Similarly, inquiries to Harvest Global Investments, Bosera Asset Management, HashKey Capital, and HKEX received no immediate response.<\/p>\n\n\n\n

See Related: <\/em><\/strong>Hong Kong Invests Over $6.4M Into Web 3 Development<\/a><\/p>\n\n\n\n

Ether ETF Update<\/h2>\n\n\n\n

The U.S. Securities and Exchange Commission (SEC) has once again delayed its decision on the application for an Ether ETF. A new deadline is set for May 23<\/a>.<\/p>\n\n\n\n

Despite this, analysts remain cautiously optimistic, estimating a 60% chance<\/a> of eventual approval. These delays and the ongoing review process indicate that the SEC is maintaining a cautious approach towards the approval of Ether ETFs. It reflects the complexities involved in integrating such products into the financial system.<\/p>\n","post_title":"Hong Kong Set to Approve Bitcoin And Ether ETFs By Monday","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"hong-kong-set-to-approve-bitcoin-and-ether-etfs-by-monday","to_ping":"","pinged":"","post_modified":"2024-04-15 03:53:05","post_modified_gmt":"2024-04-14 17:53:05","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16362","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":16347,"post_author":"15","post_date":"2024-04-14 00:03:48","post_date_gmt":"2024-04-13 14:03:48","post_content":"\n

Bitfinex Securities El Salvador is initiating a tokenized debt offering to fund the development of a Hampton by Hilton hotel complex spanning 4,484 square meters at El Salvador International Airport.<\/p>\n\n\n\n

In January, Bitfinex Securities<\/a> became the inaugural regulated entity to obtain a license to operate in El Salvador under the country\u2019s newly enacted Digital Asset Securities Law. This move anticipated a surge in demand for regulated investment vehicles, following the successful introduction of U.S. spot bitcoin exchange-traded funds.<\/p>\n\n\n\n

At the time, the tokenized securities platform announced its acceptance of customer applications and outlined a pipeline of potential financial asset issuances projected to launch in the year's first half.<\/p>\n\n\n\n

The tokenized debt, issued by El Salvadoran firm Inversiones Laguardia S.A. de C.V., is poised to be the inaugural token to trade on the platform. Utilizing the Liquid Network, a Bitcoin sidechain, the token will be denoted as HILSV and traded against U.S. dollars and Tether\u2019s USDT stablecoin.<\/p>\n\n\n\n

See Related: <\/em><\/strong>El Salvador Businesses Barely Impacted By Bitcoins Legality<\/a><\/p>\n\n\n\n

El Salvador Leads The Way<\/h2>\n\n\n\n


El Salvador stands at the forefront of cryptocurrency adoption wherein Bitcoin is recognized as legal tender. Since June 2021, it has been the first country to embrace Bitcoin alongside the US dollar for everyday transactions, making significant strides in the global crypto landscape. <\/p>\n\n\n\n

Under President Nayib Bukele, the government has initiated a groundbreaking project, where the state purchases one Bitcoin daily to bolster its reserves. <\/p>\n","post_title":"Bitfinex Securities Launches Tokenized Debt Offering For A Hotel In El Salvador","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"bitfinex-securities-launches-tokenized-debt-offering-for-a-hotel-in-el-salvador","to_ping":"","pinged":"","post_modified":"2024-04-14 00:03:52","post_modified_gmt":"2024-04-13 14:03:52","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16347","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 … 4 5 6 7 8 … 20

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

On the other hand, the Democratic nominee emphasizes balanced regulation to safeguard consumers and curb illegal activities, reflecting broader party sentiments. However, within each party, there's a range of views, from advocating for stringent oversight to promoting innovation. With crypto's increasing impact across sectors, including finance and technology, the candidates' positions are poised to shape the industry's future and its interaction with the government.<\/p>\n","post_title":"Trump Pledges To Accept Cryptocurrency For Campaign Donations","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"trump-pledges-to-accept-cryptocurrency-for-campaign-donations","to_ping":"","pinged":"","post_modified":"2024-05-13 00:31:26","post_modified_gmt":"2024-05-12 14:31:26","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16843","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":16856,"post_author":"15","post_date":"2024-05-12 20:19:19","post_date_gmt":"2024-05-12 10:19:19","post_content":"\n

Wells Fargo, a prominent American bank, revealed its investments in several Bitcoin exchange-traded funds (ETFs) in a recent regulatory filing. This move aligns Wells Fargo with other institutions embracing crypto-based investment vehicles. <\/p>\n\n\n\n

According to the filing <\/a>with the U.S. Securities and Exchange Commission (SEC), the bank has purchased shares of Grayscale's GBTC spot Bitcoin ETF and has exposure to Bitcoin Depot Inc., a Bitcoin ATM provider. Additionally, the filing shows that Wells Fargo has invested in the ProShares Bitcoin Strategy ETF (BITO), which offers investors exposure to BTC futures\u2014contracts speculating on the future price of the asset.<\/p>\n\n\n\n

Despite these investments, Wells Fargo's exposure to Bitcoin ETFs remains relatively small. The filing indicates that its investment in GBTC amounts to $141,817, while its investment in ProShares is under $1,200. The exposure to Bitcoin Depot stands at just $99.<\/p>\n\n\n\n

This disclosure comes after a report in February suggested that Wells Fargo, along with Bank of America's Merrill division, was providing its wealth management clients with exposure to Bitcoin ETFs via brokerage accounts. Wells Fargo has shown repeated interest in digital assets and even piloted its digital currency back in 2019.<\/p>\n\n\n\n

See Related:<\/em><\/strong> Bitcoin ETFs Hit Mainstream: BofA\u2019s Merrill, Wells Fargo Now Offer Spot Trading<\/a><\/p>\n\n\n\n

Bitcoin spot ETF era<\/h2>\n\n\n\n

The SEC's approval of 11 spot BTC ETFs in January has led to significant success for these products. This success mirrors the soaring price of Bitcoin, which reached an all-time high of $73,747 in March. The Bitcoin spot ETF issuers now hold 847,427 BTC which is at $50 billion at the time of writing. <\/p>\n\n\n\n

Hong Kong recently approved and started trading Bitcoin and Ethereum spot ETF. <\/p>\n","post_title":"Wells Fargo Dips Toes Into Crypto With Bitcoin ETF Investments","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"wells-fargo-dips-toes-into-crypto-with-bitcoin-etf-investments","to_ping":"","pinged":"","post_modified":"2024-05-12 20:19:23","post_modified_gmt":"2024-05-12 10:19:23","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16856","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":16761,"post_author":"15","post_date":"2024-05-06 23:24:50","post_date_gmt":"2024-05-06 13:24:50","post_content":"\n

The Grayscale Bitcoin Trust ETF ($GBTC) recently experienced a shift in its financial trend. It registers an inflow of $63 million and breaks an 11-week rally of net losses according to the Farside Investors<\/a>.<\/p>\n\n\n\n

\"Bitcoin
Since the inception of Bitcoin spot ETF in the U.S., GBTC has recorded outflows every single trading day.<\/figcaption><\/figure>\n\n\n\n

Bloomberg ETF analyst Eric Balchunas expressed his surprise<\/a> on Twitter, stating, \"Holy crap $GBTC had inflows today,\" and noted that their nearly 80-day streak of outflows had ended. He humorously remarked on the significance of this change, asking his followers to rate how significant this turnaround was for GBTC.<\/p>\n\n\n\n

Despite these challenges, GBTC remains the largest Bitcoin spot ETF, managing over $18.7 billion in assets and holding approximately 297,000 Bitcoin. However, consistent withdrawals have allowed new entrants like the BlackRock iShares Bitcoin Trust (IBIT), which now has $17.2 billion in assets, to narrow the gap.<\/p>\n\n\n\n

This news comes shortly after a downturn for IBIT, which saw a reduction of $37 million just a day earlier, as per Farside Investors. This event was part of a broader trend that saw the ETF market experience its worst day ever, with a total outflow of $563 million amid a decline in Bitcoin prices.<\/p>\n\n\n\n

See Related:<\/em><\/strong> GBTC Price Prediction after Judges Raised Hope for Investors In Favour Of Grayscale<\/a><\/p>\n\n\n\n

Bitcoin ETF in Asia<\/h2>\n\n\n\n

Hong Kong has recently made strides in the cryptocurrency market with the introduction of spot exchange-traded funds (ETFs) for Bitcoin and Ethereum. This development reflects Hong Kong's growing embrace of digital currencies and its ambition to become a major hub for cryptocurrency trading and finance. <\/p>\n\n\n\n

The trading started last April 30 and shows $12 million in trading volume on its first day. Bitcoin spot ETF recorded a $8.5 million and Ethereum spot ETF $2.5 million in trading volume. <\/p>\n","post_title":"Grayscale Bitcoin Trust Rebounds With $63 Million Influx After 80-Day Drought","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"grayscale-bitcoin-trust-rebounds-with-63-million-influx-after-80-day-drought","to_ping":"","pinged":"","post_modified":"2024-05-06 23:24:54","post_modified_gmt":"2024-05-06 13:24:54","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16761","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":16722,"post_author":"15","post_date":"2024-05-04 02:07:14","post_date_gmt":"2024-05-03 16:07:14","post_content":"\n

Elliptic, a blockchain analysis firm, released a study <\/a>conducted with the MIT-IBM Watson AI Lab on Wednesday. This study utilized a deep learning AI model to identify money laundering patterns within Bitcoin transactions and pinpoint wallets involved in criminal activities.<\/p>\n\n\n\n

Bitcoin's use of a decentralized public ledger, a fundamental aspect of the technology, facilitated the research, according to Elliptic. The collaboration between Elliptic and MIT-IBM leveraged AI to distinguish between legal and illegal transactions, tracking connections within the latter to expose potential money laundering activities.<\/p>\n\n\n\n

Elliptic stated, \u201cBlockchains provide fertile ground for machine learning techniques, thanks to the availability of both transaction data and information on the types of entities that are transacting, collected by us and others. This is in contrast to traditional finance where transaction data is typically siloed, making it challenging to apply these techniques.\u201d<\/em><\/p>\n\n\n\n

Elliptic clarified that instead of directly identifying transactions by illicit actors, the machine learning model is trained to recognize 'subgraphs'\u2014sequences of transactions that depict the laundering of Bitcoin. This method focuses more broadly on the multi-step laundering process rather than specific illegal actions on the blockchain.<\/p>\n\n\n\n

See Related:<\/em><\/strong> Binance's $3.9 Billion USDT Transfer Sparks Speculation Amidst CEO's Guilty Plea<\/a><\/p>\n\n\n\n

Money Laundering in 2024 Reports<\/h2>\n\n\n\n

In 2023, the volume of cryptocurrency involved in money laundering activities decreased significantly, with centralized exchanges continuing as the primary channels for such transactions. DeFi protocols and gambling services saw an uptick in use for laundering, yet they generally lack the anonymity preferred by launderers.<\/p>\n\n\n\n

Sophisticated criminals, particularly North Korea's Lazarus Group, adapted to law enforcement tactics by employing new mixers and utilizing cross-chain bridges to launder funds. These methods allow them to obfuscate the origins of illicit funds more effectively across multiple blockchain platforms, demonstrating a dynamic shift in the techniques used by high-level criminal enterprises to evade detection.<\/p>\n","post_title":"AI Powers New Tool To Detect Illegal Bitcoin Transactions, Study Shows","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"ai-powers-new-tool-to-detect-illegal-bitcoin-transactions-study-shows","to_ping":"","pinged":"","post_modified":"2024-05-04 02:07:20","post_modified_gmt":"2024-05-03 16:07:20","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16722","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":16491,"post_author":"15","post_date":"2024-04-21 10:09:53","post_date_gmt":"2024-04-21 00:09:53","post_content":"\n

Entrepreneur and Dallas Mavericks owner Mark Cuban recently discussed the implications of the upcoming Bitcoin halving. He emphasized its significant impact on miner revenues.<\/p>\n\n\n\n

During an interview <\/a>with The Block, Cuban pointed out that the halving will reduce mining rewards from 6.25 BTC to 3.125 BTC, effectively slashing the income for bitcoin miners by nearly half. However, Cuban expressed greater curiosity about the role artificial intelligence (AI) might play in the mining sector, especially concerning the demand for GPUs.<\/p>\n\n\n\n

Cuban highlighted the intense competition between AI's needs for GPUs and cryptocurrency mining's demands. He questioned whether the economic landscape of mining could be altered by the booming AI industry, asking if it might be more profitable to utilize GPUs for AI model training rather than mining. This issue primarily affects miners using GPUs for cryptocurrencies other than Bitcoin, which typically relies on ASIC machines.<\/p>\n\n\n\n

The intersection of AI and cryptocurrency mining is already seeing practical applications, with companies like Xive and Hive Digital Technologies expanding into AI to bolster their primary mining operations. <\/p>\n\n\n\n

See Related:<\/em><\/strong> Cryptocurrency Statistics And Insights (2022)<\/a><\/p>\n\n\n\n

Bitcoin Halving is Coming<\/h2>\n\n\n\n

Bitcoin halving is a significant event in the cryptocurrency world that occurs approximately every four years, or after 210,000 blocks are mined. During a halving, bitcoin miners' reward for verifying transactions and adding them to the blockchain is reduced by half. This mechanism was designed by Satoshi Nakamoto, the anonymous creator of Bitcoin, to control inflation by limiting the total number of bitcoins that can ever be in circulation to 21 million.<\/p>\n\n\n\n

As of writing, the price of Bitcoin is at $63,760, and 2 blocks remaining until the next Bitcoin halving.<\/p>\n","post_title":"Bitcoin Halving To Slash Miner Earnings, Cuban Eyes AI Shift","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"bitcoin-halving-to-slash-miner-earnings-cuban-eyes-ai-shift","to_ping":"","pinged":"","post_modified":"2024-04-21 10:10:00","post_modified_gmt":"2024-04-21 00:10:00","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16491","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":16460,"post_author":"15","post_date":"2024-04-19 23:38:06","post_date_gmt":"2024-04-19 13:38:06","post_content":"\n

Binance, the leading global cryptocurrency exchange, is set to make a comeback in India after agreeing to pay a $2 million penalty. This development follows a period of stringent regulatory scrutiny where the Indian government blocked nine cryptocurrency websites. They also prompted the removal of related apps from Apple and Google stores due to non-compliance with local laws. <\/p>\n\n\n\n

According to the Economic Times<\/a>, sources close to the matter indicate that Binance is restructuring its operations in South Asia. The cryptocurrency exchange is planning to fully comply with the Financial Intelligence Unit of India, which regulates the local trading of digital assets.<\/p>\n\n\n\n

The move comes as part of Binance's efforts to align with India's financial regulations, including adherence to anti-money laundering and taxation statutes. Before the crackdown, Binance held a commanding presence in the Indian market, with an estimated 90% of crypto holdings among Indian investors, totaling about $4 billion.<\/p>\n\n\n\n

See Related:<\/em><\/strong> Indian Parliament Passes A 30% Crypto Tax Law<\/a><\/p>\n\n\n\n

Nigeria Detains Binance Executives<\/h2>\n\n\n\n

Two months ago, Nigeria detained two executives of the Binance after they flew into the country. The country's Office of the National Security Adviser detained the two, and their passports were seized. <\/p>\n\n\n\n

Nigerian officials have leveled several charges against the cryptocurrency exchange Binance. The allegation includes exploiting the local economy, contributing to the devaluation of the Nigerian naira, and engaging in money laundering activities. They allege that Binance has been involved in manipulating the exchange rates by engaging in speculative actions and fixing rates. Furthermore, the Nigerian government has expressed concerns over $26 billion in transactions carried out on Binance's platform, which they report as being untraceable.<\/p>\n\n\n\n

Binance has denied any wrongdoing, but this is not the first time it has bumped heads with regulators.<\/p>\n","post_title":"Binance Set To Re-enter Indian Market with $2 Million Fine Settlement","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"binance-set-to-re-enter-indian-market-with-2-million-fine-settlement","to_ping":"","pinged":"","post_modified":"2024-04-20 04:11:08","post_modified_gmt":"2024-04-19 18:11:08","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16460","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":16362,"post_author":"15","post_date":"2024-04-15 03:52:59","post_date_gmt":"2024-04-14 17:52:59","post_content":"\n

Hong Kong is on the brink of approving spot exchange-traded funds (ETFs) for bitcoin and ether, potentially by Monday, Bloomberg reports<\/a>. This anticipated approval is poised to influence the cryptocurrency markets in the near term. The ETFs, if launched, will enable investors to trade bitcoin and ether on regulated platforms, enhancing the legitimacy and stability of investing in cryptocurrencies.<\/p>\n\n\n\n

Bloomberg\u2019s sources suggest that if the Hong Kong Exchanges & Clearing can finalize the listing details promptly, trading could commence by the end of April. Harvest Global Investments and Bosera Asset Management, in collaboration with HashKey Capital, are frontrunners in receiving the first approvals for these spot cryptocurrency ETFs. This move could cement Hong Kong's position as a major hub for digital assets in Asia, particularly if it leads to a successful market response similar to the U.S., where the approval of bitcoin ETFs in January triggered a price rally, pushing bitcoin\u2019s value to $73,000.<\/p>\n\n\n\n

However, unlike in the U.S., where ether ETFs have not yet been approved, Hong Kong might take the lead in this area as well. The city's market regulator, the Securities and Futures Commission (SFC), has not commented on the developments. Similarly, inquiries to Harvest Global Investments, Bosera Asset Management, HashKey Capital, and HKEX received no immediate response.<\/p>\n\n\n\n

See Related: <\/em><\/strong>Hong Kong Invests Over $6.4M Into Web 3 Development<\/a><\/p>\n\n\n\n

Ether ETF Update<\/h2>\n\n\n\n

The U.S. Securities and Exchange Commission (SEC) has once again delayed its decision on the application for an Ether ETF. A new deadline is set for May 23<\/a>.<\/p>\n\n\n\n

Despite this, analysts remain cautiously optimistic, estimating a 60% chance<\/a> of eventual approval. These delays and the ongoing review process indicate that the SEC is maintaining a cautious approach towards the approval of Ether ETFs. It reflects the complexities involved in integrating such products into the financial system.<\/p>\n","post_title":"Hong Kong Set to Approve Bitcoin And Ether ETFs By Monday","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"hong-kong-set-to-approve-bitcoin-and-ether-etfs-by-monday","to_ping":"","pinged":"","post_modified":"2024-04-15 03:53:05","post_modified_gmt":"2024-04-14 17:53:05","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16362","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":16347,"post_author":"15","post_date":"2024-04-14 00:03:48","post_date_gmt":"2024-04-13 14:03:48","post_content":"\n

Bitfinex Securities El Salvador is initiating a tokenized debt offering to fund the development of a Hampton by Hilton hotel complex spanning 4,484 square meters at El Salvador International Airport.<\/p>\n\n\n\n

In January, Bitfinex Securities<\/a> became the inaugural regulated entity to obtain a license to operate in El Salvador under the country\u2019s newly enacted Digital Asset Securities Law. This move anticipated a surge in demand for regulated investment vehicles, following the successful introduction of U.S. spot bitcoin exchange-traded funds.<\/p>\n\n\n\n

At the time, the tokenized securities platform announced its acceptance of customer applications and outlined a pipeline of potential financial asset issuances projected to launch in the year's first half.<\/p>\n\n\n\n

The tokenized debt, issued by El Salvadoran firm Inversiones Laguardia S.A. de C.V., is poised to be the inaugural token to trade on the platform. Utilizing the Liquid Network, a Bitcoin sidechain, the token will be denoted as HILSV and traded against U.S. dollars and Tether\u2019s USDT stablecoin.<\/p>\n\n\n\n

See Related: <\/em><\/strong>El Salvador Businesses Barely Impacted By Bitcoins Legality<\/a><\/p>\n\n\n\n

El Salvador Leads The Way<\/h2>\n\n\n\n


El Salvador stands at the forefront of cryptocurrency adoption wherein Bitcoin is recognized as legal tender. Since June 2021, it has been the first country to embrace Bitcoin alongside the US dollar for everyday transactions, making significant strides in the global crypto landscape. <\/p>\n\n\n\n

Under President Nayib Bukele, the government has initiated a groundbreaking project, where the state purchases one Bitcoin daily to bolster its reserves. <\/p>\n","post_title":"Bitfinex Securities Launches Tokenized Debt Offering For A Hotel In El Salvador","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"bitfinex-securities-launches-tokenized-debt-offering-for-a-hotel-in-el-salvador","to_ping":"","pinged":"","post_modified":"2024-04-14 00:03:52","post_modified_gmt":"2024-04-13 14:03:52","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16347","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 … 4 5 6 7 8 … 20

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

As the 2024 U.S. presidential election nears, candidates face scrutiny over their stance on cryptocurrency regulation. Republican nominee and former President Donald Trump has shown enthusiasm. <\/p>\n\n\n\n

On the other hand, the Democratic nominee emphasizes balanced regulation to safeguard consumers and curb illegal activities, reflecting broader party sentiments. However, within each party, there's a range of views, from advocating for stringent oversight to promoting innovation. With crypto's increasing impact across sectors, including finance and technology, the candidates' positions are poised to shape the industry's future and its interaction with the government.<\/p>\n","post_title":"Trump Pledges To Accept Cryptocurrency For Campaign Donations","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"trump-pledges-to-accept-cryptocurrency-for-campaign-donations","to_ping":"","pinged":"","post_modified":"2024-05-13 00:31:26","post_modified_gmt":"2024-05-12 14:31:26","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16843","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":16856,"post_author":"15","post_date":"2024-05-12 20:19:19","post_date_gmt":"2024-05-12 10:19:19","post_content":"\n

Wells Fargo, a prominent American bank, revealed its investments in several Bitcoin exchange-traded funds (ETFs) in a recent regulatory filing. This move aligns Wells Fargo with other institutions embracing crypto-based investment vehicles. <\/p>\n\n\n\n

According to the filing <\/a>with the U.S. Securities and Exchange Commission (SEC), the bank has purchased shares of Grayscale's GBTC spot Bitcoin ETF and has exposure to Bitcoin Depot Inc., a Bitcoin ATM provider. Additionally, the filing shows that Wells Fargo has invested in the ProShares Bitcoin Strategy ETF (BITO), which offers investors exposure to BTC futures\u2014contracts speculating on the future price of the asset.<\/p>\n\n\n\n

Despite these investments, Wells Fargo's exposure to Bitcoin ETFs remains relatively small. The filing indicates that its investment in GBTC amounts to $141,817, while its investment in ProShares is under $1,200. The exposure to Bitcoin Depot stands at just $99.<\/p>\n\n\n\n

This disclosure comes after a report in February suggested that Wells Fargo, along with Bank of America's Merrill division, was providing its wealth management clients with exposure to Bitcoin ETFs via brokerage accounts. Wells Fargo has shown repeated interest in digital assets and even piloted its digital currency back in 2019.<\/p>\n\n\n\n

See Related:<\/em><\/strong> Bitcoin ETFs Hit Mainstream: BofA\u2019s Merrill, Wells Fargo Now Offer Spot Trading<\/a><\/p>\n\n\n\n

Bitcoin spot ETF era<\/h2>\n\n\n\n

The SEC's approval of 11 spot BTC ETFs in January has led to significant success for these products. This success mirrors the soaring price of Bitcoin, which reached an all-time high of $73,747 in March. The Bitcoin spot ETF issuers now hold 847,427 BTC which is at $50 billion at the time of writing. <\/p>\n\n\n\n

Hong Kong recently approved and started trading Bitcoin and Ethereum spot ETF. <\/p>\n","post_title":"Wells Fargo Dips Toes Into Crypto With Bitcoin ETF Investments","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"wells-fargo-dips-toes-into-crypto-with-bitcoin-etf-investments","to_ping":"","pinged":"","post_modified":"2024-05-12 20:19:23","post_modified_gmt":"2024-05-12 10:19:23","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16856","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":16761,"post_author":"15","post_date":"2024-05-06 23:24:50","post_date_gmt":"2024-05-06 13:24:50","post_content":"\n

The Grayscale Bitcoin Trust ETF ($GBTC) recently experienced a shift in its financial trend. It registers an inflow of $63 million and breaks an 11-week rally of net losses according to the Farside Investors<\/a>.<\/p>\n\n\n\n

\"Bitcoin
Since the inception of Bitcoin spot ETF in the U.S., GBTC has recorded outflows every single trading day.<\/figcaption><\/figure>\n\n\n\n

Bloomberg ETF analyst Eric Balchunas expressed his surprise<\/a> on Twitter, stating, \"Holy crap $GBTC had inflows today,\" and noted that their nearly 80-day streak of outflows had ended. He humorously remarked on the significance of this change, asking his followers to rate how significant this turnaround was for GBTC.<\/p>\n\n\n\n

Despite these challenges, GBTC remains the largest Bitcoin spot ETF, managing over $18.7 billion in assets and holding approximately 297,000 Bitcoin. However, consistent withdrawals have allowed new entrants like the BlackRock iShares Bitcoin Trust (IBIT), which now has $17.2 billion in assets, to narrow the gap.<\/p>\n\n\n\n

This news comes shortly after a downturn for IBIT, which saw a reduction of $37 million just a day earlier, as per Farside Investors. This event was part of a broader trend that saw the ETF market experience its worst day ever, with a total outflow of $563 million amid a decline in Bitcoin prices.<\/p>\n\n\n\n

See Related:<\/em><\/strong> GBTC Price Prediction after Judges Raised Hope for Investors In Favour Of Grayscale<\/a><\/p>\n\n\n\n

Bitcoin ETF in Asia<\/h2>\n\n\n\n

Hong Kong has recently made strides in the cryptocurrency market with the introduction of spot exchange-traded funds (ETFs) for Bitcoin and Ethereum. This development reflects Hong Kong's growing embrace of digital currencies and its ambition to become a major hub for cryptocurrency trading and finance. <\/p>\n\n\n\n

The trading started last April 30 and shows $12 million in trading volume on its first day. Bitcoin spot ETF recorded a $8.5 million and Ethereum spot ETF $2.5 million in trading volume. <\/p>\n","post_title":"Grayscale Bitcoin Trust Rebounds With $63 Million Influx After 80-Day Drought","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"grayscale-bitcoin-trust-rebounds-with-63-million-influx-after-80-day-drought","to_ping":"","pinged":"","post_modified":"2024-05-06 23:24:54","post_modified_gmt":"2024-05-06 13:24:54","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16761","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":16722,"post_author":"15","post_date":"2024-05-04 02:07:14","post_date_gmt":"2024-05-03 16:07:14","post_content":"\n

Elliptic, a blockchain analysis firm, released a study <\/a>conducted with the MIT-IBM Watson AI Lab on Wednesday. This study utilized a deep learning AI model to identify money laundering patterns within Bitcoin transactions and pinpoint wallets involved in criminal activities.<\/p>\n\n\n\n

Bitcoin's use of a decentralized public ledger, a fundamental aspect of the technology, facilitated the research, according to Elliptic. The collaboration between Elliptic and MIT-IBM leveraged AI to distinguish between legal and illegal transactions, tracking connections within the latter to expose potential money laundering activities.<\/p>\n\n\n\n

Elliptic stated, \u201cBlockchains provide fertile ground for machine learning techniques, thanks to the availability of both transaction data and information on the types of entities that are transacting, collected by us and others. This is in contrast to traditional finance where transaction data is typically siloed, making it challenging to apply these techniques.\u201d<\/em><\/p>\n\n\n\n

Elliptic clarified that instead of directly identifying transactions by illicit actors, the machine learning model is trained to recognize 'subgraphs'\u2014sequences of transactions that depict the laundering of Bitcoin. This method focuses more broadly on the multi-step laundering process rather than specific illegal actions on the blockchain.<\/p>\n\n\n\n

See Related:<\/em><\/strong> Binance's $3.9 Billion USDT Transfer Sparks Speculation Amidst CEO's Guilty Plea<\/a><\/p>\n\n\n\n

Money Laundering in 2024 Reports<\/h2>\n\n\n\n

In 2023, the volume of cryptocurrency involved in money laundering activities decreased significantly, with centralized exchanges continuing as the primary channels for such transactions. DeFi protocols and gambling services saw an uptick in use for laundering, yet they generally lack the anonymity preferred by launderers.<\/p>\n\n\n\n

Sophisticated criminals, particularly North Korea's Lazarus Group, adapted to law enforcement tactics by employing new mixers and utilizing cross-chain bridges to launder funds. These methods allow them to obfuscate the origins of illicit funds more effectively across multiple blockchain platforms, demonstrating a dynamic shift in the techniques used by high-level criminal enterprises to evade detection.<\/p>\n","post_title":"AI Powers New Tool To Detect Illegal Bitcoin Transactions, Study Shows","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"ai-powers-new-tool-to-detect-illegal-bitcoin-transactions-study-shows","to_ping":"","pinged":"","post_modified":"2024-05-04 02:07:20","post_modified_gmt":"2024-05-03 16:07:20","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16722","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":16491,"post_author":"15","post_date":"2024-04-21 10:09:53","post_date_gmt":"2024-04-21 00:09:53","post_content":"\n

Entrepreneur and Dallas Mavericks owner Mark Cuban recently discussed the implications of the upcoming Bitcoin halving. He emphasized its significant impact on miner revenues.<\/p>\n\n\n\n

During an interview <\/a>with The Block, Cuban pointed out that the halving will reduce mining rewards from 6.25 BTC to 3.125 BTC, effectively slashing the income for bitcoin miners by nearly half. However, Cuban expressed greater curiosity about the role artificial intelligence (AI) might play in the mining sector, especially concerning the demand for GPUs.<\/p>\n\n\n\n

Cuban highlighted the intense competition between AI's needs for GPUs and cryptocurrency mining's demands. He questioned whether the economic landscape of mining could be altered by the booming AI industry, asking if it might be more profitable to utilize GPUs for AI model training rather than mining. This issue primarily affects miners using GPUs for cryptocurrencies other than Bitcoin, which typically relies on ASIC machines.<\/p>\n\n\n\n

The intersection of AI and cryptocurrency mining is already seeing practical applications, with companies like Xive and Hive Digital Technologies expanding into AI to bolster their primary mining operations. <\/p>\n\n\n\n

See Related:<\/em><\/strong> Cryptocurrency Statistics And Insights (2022)<\/a><\/p>\n\n\n\n

Bitcoin Halving is Coming<\/h2>\n\n\n\n

Bitcoin halving is a significant event in the cryptocurrency world that occurs approximately every four years, or after 210,000 blocks are mined. During a halving, bitcoin miners' reward for verifying transactions and adding them to the blockchain is reduced by half. This mechanism was designed by Satoshi Nakamoto, the anonymous creator of Bitcoin, to control inflation by limiting the total number of bitcoins that can ever be in circulation to 21 million.<\/p>\n\n\n\n

As of writing, the price of Bitcoin is at $63,760, and 2 blocks remaining until the next Bitcoin halving.<\/p>\n","post_title":"Bitcoin Halving To Slash Miner Earnings, Cuban Eyes AI Shift","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"bitcoin-halving-to-slash-miner-earnings-cuban-eyes-ai-shift","to_ping":"","pinged":"","post_modified":"2024-04-21 10:10:00","post_modified_gmt":"2024-04-21 00:10:00","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16491","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":16460,"post_author":"15","post_date":"2024-04-19 23:38:06","post_date_gmt":"2024-04-19 13:38:06","post_content":"\n

Binance, the leading global cryptocurrency exchange, is set to make a comeback in India after agreeing to pay a $2 million penalty. This development follows a period of stringent regulatory scrutiny where the Indian government blocked nine cryptocurrency websites. They also prompted the removal of related apps from Apple and Google stores due to non-compliance with local laws. <\/p>\n\n\n\n

According to the Economic Times<\/a>, sources close to the matter indicate that Binance is restructuring its operations in South Asia. The cryptocurrency exchange is planning to fully comply with the Financial Intelligence Unit of India, which regulates the local trading of digital assets.<\/p>\n\n\n\n

The move comes as part of Binance's efforts to align with India's financial regulations, including adherence to anti-money laundering and taxation statutes. Before the crackdown, Binance held a commanding presence in the Indian market, with an estimated 90% of crypto holdings among Indian investors, totaling about $4 billion.<\/p>\n\n\n\n

See Related:<\/em><\/strong> Indian Parliament Passes A 30% Crypto Tax Law<\/a><\/p>\n\n\n\n

Nigeria Detains Binance Executives<\/h2>\n\n\n\n

Two months ago, Nigeria detained two executives of the Binance after they flew into the country. The country's Office of the National Security Adviser detained the two, and their passports were seized. <\/p>\n\n\n\n

Nigerian officials have leveled several charges against the cryptocurrency exchange Binance. The allegation includes exploiting the local economy, contributing to the devaluation of the Nigerian naira, and engaging in money laundering activities. They allege that Binance has been involved in manipulating the exchange rates by engaging in speculative actions and fixing rates. Furthermore, the Nigerian government has expressed concerns over $26 billion in transactions carried out on Binance's platform, which they report as being untraceable.<\/p>\n\n\n\n

Binance has denied any wrongdoing, but this is not the first time it has bumped heads with regulators.<\/p>\n","post_title":"Binance Set To Re-enter Indian Market with $2 Million Fine Settlement","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"binance-set-to-re-enter-indian-market-with-2-million-fine-settlement","to_ping":"","pinged":"","post_modified":"2024-04-20 04:11:08","post_modified_gmt":"2024-04-19 18:11:08","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16460","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":16362,"post_author":"15","post_date":"2024-04-15 03:52:59","post_date_gmt":"2024-04-14 17:52:59","post_content":"\n

Hong Kong is on the brink of approving spot exchange-traded funds (ETFs) for bitcoin and ether, potentially by Monday, Bloomberg reports<\/a>. This anticipated approval is poised to influence the cryptocurrency markets in the near term. The ETFs, if launched, will enable investors to trade bitcoin and ether on regulated platforms, enhancing the legitimacy and stability of investing in cryptocurrencies.<\/p>\n\n\n\n

Bloomberg\u2019s sources suggest that if the Hong Kong Exchanges & Clearing can finalize the listing details promptly, trading could commence by the end of April. Harvest Global Investments and Bosera Asset Management, in collaboration with HashKey Capital, are frontrunners in receiving the first approvals for these spot cryptocurrency ETFs. This move could cement Hong Kong's position as a major hub for digital assets in Asia, particularly if it leads to a successful market response similar to the U.S., where the approval of bitcoin ETFs in January triggered a price rally, pushing bitcoin\u2019s value to $73,000.<\/p>\n\n\n\n

However, unlike in the U.S., where ether ETFs have not yet been approved, Hong Kong might take the lead in this area as well. The city's market regulator, the Securities and Futures Commission (SFC), has not commented on the developments. Similarly, inquiries to Harvest Global Investments, Bosera Asset Management, HashKey Capital, and HKEX received no immediate response.<\/p>\n\n\n\n

See Related: <\/em><\/strong>Hong Kong Invests Over $6.4M Into Web 3 Development<\/a><\/p>\n\n\n\n

Ether ETF Update<\/h2>\n\n\n\n

The U.S. Securities and Exchange Commission (SEC) has once again delayed its decision on the application for an Ether ETF. A new deadline is set for May 23<\/a>.<\/p>\n\n\n\n

Despite this, analysts remain cautiously optimistic, estimating a 60% chance<\/a> of eventual approval. These delays and the ongoing review process indicate that the SEC is maintaining a cautious approach towards the approval of Ether ETFs. It reflects the complexities involved in integrating such products into the financial system.<\/p>\n","post_title":"Hong Kong Set to Approve Bitcoin And Ether ETFs By Monday","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"hong-kong-set-to-approve-bitcoin-and-ether-etfs-by-monday","to_ping":"","pinged":"","post_modified":"2024-04-15 03:53:05","post_modified_gmt":"2024-04-14 17:53:05","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16362","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":16347,"post_author":"15","post_date":"2024-04-14 00:03:48","post_date_gmt":"2024-04-13 14:03:48","post_content":"\n

Bitfinex Securities El Salvador is initiating a tokenized debt offering to fund the development of a Hampton by Hilton hotel complex spanning 4,484 square meters at El Salvador International Airport.<\/p>\n\n\n\n

In January, Bitfinex Securities<\/a> became the inaugural regulated entity to obtain a license to operate in El Salvador under the country\u2019s newly enacted Digital Asset Securities Law. This move anticipated a surge in demand for regulated investment vehicles, following the successful introduction of U.S. spot bitcoin exchange-traded funds.<\/p>\n\n\n\n

At the time, the tokenized securities platform announced its acceptance of customer applications and outlined a pipeline of potential financial asset issuances projected to launch in the year's first half.<\/p>\n\n\n\n

The tokenized debt, issued by El Salvadoran firm Inversiones Laguardia S.A. de C.V., is poised to be the inaugural token to trade on the platform. Utilizing the Liquid Network, a Bitcoin sidechain, the token will be denoted as HILSV and traded against U.S. dollars and Tether\u2019s USDT stablecoin.<\/p>\n\n\n\n

See Related: <\/em><\/strong>El Salvador Businesses Barely Impacted By Bitcoins Legality<\/a><\/p>\n\n\n\n

El Salvador Leads The Way<\/h2>\n\n\n\n


El Salvador stands at the forefront of cryptocurrency adoption wherein Bitcoin is recognized as legal tender. Since June 2021, it has been the first country to embrace Bitcoin alongside the US dollar for everyday transactions, making significant strides in the global crypto landscape. <\/p>\n\n\n\n

Under President Nayib Bukele, the government has initiated a groundbreaking project, where the state purchases one Bitcoin daily to bolster its reserves. <\/p>\n","post_title":"Bitfinex Securities Launches Tokenized Debt Offering For A Hotel In El Salvador","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"bitfinex-securities-launches-tokenized-debt-offering-for-a-hotel-in-el-salvador","to_ping":"","pinged":"","post_modified":"2024-04-14 00:03:52","post_modified_gmt":"2024-04-13 14:03:52","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16347","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

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\n

U.S. Presidency Candidates And Their Stance On Crypto<\/h2>\n\n\n\n

As the 2024 U.S. presidential election nears, candidates face scrutiny over their stance on cryptocurrency regulation. Republican nominee and former President Donald Trump has shown enthusiasm. <\/p>\n\n\n\n

On the other hand, the Democratic nominee emphasizes balanced regulation to safeguard consumers and curb illegal activities, reflecting broader party sentiments. However, within each party, there's a range of views, from advocating for stringent oversight to promoting innovation. With crypto's increasing impact across sectors, including finance and technology, the candidates' positions are poised to shape the industry's future and its interaction with the government.<\/p>\n","post_title":"Trump Pledges To Accept Cryptocurrency For Campaign Donations","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"trump-pledges-to-accept-cryptocurrency-for-campaign-donations","to_ping":"","pinged":"","post_modified":"2024-05-13 00:31:26","post_modified_gmt":"2024-05-12 14:31:26","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16843","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":16856,"post_author":"15","post_date":"2024-05-12 20:19:19","post_date_gmt":"2024-05-12 10:19:19","post_content":"\n

Wells Fargo, a prominent American bank, revealed its investments in several Bitcoin exchange-traded funds (ETFs) in a recent regulatory filing. This move aligns Wells Fargo with other institutions embracing crypto-based investment vehicles. <\/p>\n\n\n\n

According to the filing <\/a>with the U.S. Securities and Exchange Commission (SEC), the bank has purchased shares of Grayscale's GBTC spot Bitcoin ETF and has exposure to Bitcoin Depot Inc., a Bitcoin ATM provider. Additionally, the filing shows that Wells Fargo has invested in the ProShares Bitcoin Strategy ETF (BITO), which offers investors exposure to BTC futures\u2014contracts speculating on the future price of the asset.<\/p>\n\n\n\n

Despite these investments, Wells Fargo's exposure to Bitcoin ETFs remains relatively small. The filing indicates that its investment in GBTC amounts to $141,817, while its investment in ProShares is under $1,200. The exposure to Bitcoin Depot stands at just $99.<\/p>\n\n\n\n

This disclosure comes after a report in February suggested that Wells Fargo, along with Bank of America's Merrill division, was providing its wealth management clients with exposure to Bitcoin ETFs via brokerage accounts. Wells Fargo has shown repeated interest in digital assets and even piloted its digital currency back in 2019.<\/p>\n\n\n\n

See Related:<\/em><\/strong> Bitcoin ETFs Hit Mainstream: BofA\u2019s Merrill, Wells Fargo Now Offer Spot Trading<\/a><\/p>\n\n\n\n

Bitcoin spot ETF era<\/h2>\n\n\n\n

The SEC's approval of 11 spot BTC ETFs in January has led to significant success for these products. This success mirrors the soaring price of Bitcoin, which reached an all-time high of $73,747 in March. The Bitcoin spot ETF issuers now hold 847,427 BTC which is at $50 billion at the time of writing. <\/p>\n\n\n\n

Hong Kong recently approved and started trading Bitcoin and Ethereum spot ETF. <\/p>\n","post_title":"Wells Fargo Dips Toes Into Crypto With Bitcoin ETF Investments","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"wells-fargo-dips-toes-into-crypto-with-bitcoin-etf-investments","to_ping":"","pinged":"","post_modified":"2024-05-12 20:19:23","post_modified_gmt":"2024-05-12 10:19:23","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16856","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":16761,"post_author":"15","post_date":"2024-05-06 23:24:50","post_date_gmt":"2024-05-06 13:24:50","post_content":"\n

The Grayscale Bitcoin Trust ETF ($GBTC) recently experienced a shift in its financial trend. It registers an inflow of $63 million and breaks an 11-week rally of net losses according to the Farside Investors<\/a>.<\/p>\n\n\n\n

\"Bitcoin
Since the inception of Bitcoin spot ETF in the U.S., GBTC has recorded outflows every single trading day.<\/figcaption><\/figure>\n\n\n\n

Bloomberg ETF analyst Eric Balchunas expressed his surprise<\/a> on Twitter, stating, \"Holy crap $GBTC had inflows today,\" and noted that their nearly 80-day streak of outflows had ended. He humorously remarked on the significance of this change, asking his followers to rate how significant this turnaround was for GBTC.<\/p>\n\n\n\n

Despite these challenges, GBTC remains the largest Bitcoin spot ETF, managing over $18.7 billion in assets and holding approximately 297,000 Bitcoin. However, consistent withdrawals have allowed new entrants like the BlackRock iShares Bitcoin Trust (IBIT), which now has $17.2 billion in assets, to narrow the gap.<\/p>\n\n\n\n

This news comes shortly after a downturn for IBIT, which saw a reduction of $37 million just a day earlier, as per Farside Investors. This event was part of a broader trend that saw the ETF market experience its worst day ever, with a total outflow of $563 million amid a decline in Bitcoin prices.<\/p>\n\n\n\n

See Related:<\/em><\/strong> GBTC Price Prediction after Judges Raised Hope for Investors In Favour Of Grayscale<\/a><\/p>\n\n\n\n

Bitcoin ETF in Asia<\/h2>\n\n\n\n

Hong Kong has recently made strides in the cryptocurrency market with the introduction of spot exchange-traded funds (ETFs) for Bitcoin and Ethereum. This development reflects Hong Kong's growing embrace of digital currencies and its ambition to become a major hub for cryptocurrency trading and finance. <\/p>\n\n\n\n

The trading started last April 30 and shows $12 million in trading volume on its first day. Bitcoin spot ETF recorded a $8.5 million and Ethereum spot ETF $2.5 million in trading volume. <\/p>\n","post_title":"Grayscale Bitcoin Trust Rebounds With $63 Million Influx After 80-Day Drought","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"grayscale-bitcoin-trust-rebounds-with-63-million-influx-after-80-day-drought","to_ping":"","pinged":"","post_modified":"2024-05-06 23:24:54","post_modified_gmt":"2024-05-06 13:24:54","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16761","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":16722,"post_author":"15","post_date":"2024-05-04 02:07:14","post_date_gmt":"2024-05-03 16:07:14","post_content":"\n

Elliptic, a blockchain analysis firm, released a study <\/a>conducted with the MIT-IBM Watson AI Lab on Wednesday. This study utilized a deep learning AI model to identify money laundering patterns within Bitcoin transactions and pinpoint wallets involved in criminal activities.<\/p>\n\n\n\n

Bitcoin's use of a decentralized public ledger, a fundamental aspect of the technology, facilitated the research, according to Elliptic. The collaboration between Elliptic and MIT-IBM leveraged AI to distinguish between legal and illegal transactions, tracking connections within the latter to expose potential money laundering activities.<\/p>\n\n\n\n

Elliptic stated, \u201cBlockchains provide fertile ground for machine learning techniques, thanks to the availability of both transaction data and information on the types of entities that are transacting, collected by us and others. This is in contrast to traditional finance where transaction data is typically siloed, making it challenging to apply these techniques.\u201d<\/em><\/p>\n\n\n\n

Elliptic clarified that instead of directly identifying transactions by illicit actors, the machine learning model is trained to recognize 'subgraphs'\u2014sequences of transactions that depict the laundering of Bitcoin. This method focuses more broadly on the multi-step laundering process rather than specific illegal actions on the blockchain.<\/p>\n\n\n\n

See Related:<\/em><\/strong> Binance's $3.9 Billion USDT Transfer Sparks Speculation Amidst CEO's Guilty Plea<\/a><\/p>\n\n\n\n

Money Laundering in 2024 Reports<\/h2>\n\n\n\n

In 2023, the volume of cryptocurrency involved in money laundering activities decreased significantly, with centralized exchanges continuing as the primary channels for such transactions. DeFi protocols and gambling services saw an uptick in use for laundering, yet they generally lack the anonymity preferred by launderers.<\/p>\n\n\n\n

Sophisticated criminals, particularly North Korea's Lazarus Group, adapted to law enforcement tactics by employing new mixers and utilizing cross-chain bridges to launder funds. These methods allow them to obfuscate the origins of illicit funds more effectively across multiple blockchain platforms, demonstrating a dynamic shift in the techniques used by high-level criminal enterprises to evade detection.<\/p>\n","post_title":"AI Powers New Tool To Detect Illegal Bitcoin Transactions, Study Shows","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"ai-powers-new-tool-to-detect-illegal-bitcoin-transactions-study-shows","to_ping":"","pinged":"","post_modified":"2024-05-04 02:07:20","post_modified_gmt":"2024-05-03 16:07:20","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16722","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":16491,"post_author":"15","post_date":"2024-04-21 10:09:53","post_date_gmt":"2024-04-21 00:09:53","post_content":"\n

Entrepreneur and Dallas Mavericks owner Mark Cuban recently discussed the implications of the upcoming Bitcoin halving. He emphasized its significant impact on miner revenues.<\/p>\n\n\n\n

During an interview <\/a>with The Block, Cuban pointed out that the halving will reduce mining rewards from 6.25 BTC to 3.125 BTC, effectively slashing the income for bitcoin miners by nearly half. However, Cuban expressed greater curiosity about the role artificial intelligence (AI) might play in the mining sector, especially concerning the demand for GPUs.<\/p>\n\n\n\n

Cuban highlighted the intense competition between AI's needs for GPUs and cryptocurrency mining's demands. He questioned whether the economic landscape of mining could be altered by the booming AI industry, asking if it might be more profitable to utilize GPUs for AI model training rather than mining. This issue primarily affects miners using GPUs for cryptocurrencies other than Bitcoin, which typically relies on ASIC machines.<\/p>\n\n\n\n

The intersection of AI and cryptocurrency mining is already seeing practical applications, with companies like Xive and Hive Digital Technologies expanding into AI to bolster their primary mining operations. <\/p>\n\n\n\n

See Related:<\/em><\/strong> Cryptocurrency Statistics And Insights (2022)<\/a><\/p>\n\n\n\n

Bitcoin Halving is Coming<\/h2>\n\n\n\n

Bitcoin halving is a significant event in the cryptocurrency world that occurs approximately every four years, or after 210,000 blocks are mined. During a halving, bitcoin miners' reward for verifying transactions and adding them to the blockchain is reduced by half. This mechanism was designed by Satoshi Nakamoto, the anonymous creator of Bitcoin, to control inflation by limiting the total number of bitcoins that can ever be in circulation to 21 million.<\/p>\n\n\n\n

As of writing, the price of Bitcoin is at $63,760, and 2 blocks remaining until the next Bitcoin halving.<\/p>\n","post_title":"Bitcoin Halving To Slash Miner Earnings, Cuban Eyes AI Shift","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"bitcoin-halving-to-slash-miner-earnings-cuban-eyes-ai-shift","to_ping":"","pinged":"","post_modified":"2024-04-21 10:10:00","post_modified_gmt":"2024-04-21 00:10:00","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16491","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":16460,"post_author":"15","post_date":"2024-04-19 23:38:06","post_date_gmt":"2024-04-19 13:38:06","post_content":"\n

Binance, the leading global cryptocurrency exchange, is set to make a comeback in India after agreeing to pay a $2 million penalty. This development follows a period of stringent regulatory scrutiny where the Indian government blocked nine cryptocurrency websites. They also prompted the removal of related apps from Apple and Google stores due to non-compliance with local laws. <\/p>\n\n\n\n

According to the Economic Times<\/a>, sources close to the matter indicate that Binance is restructuring its operations in South Asia. The cryptocurrency exchange is planning to fully comply with the Financial Intelligence Unit of India, which regulates the local trading of digital assets.<\/p>\n\n\n\n

The move comes as part of Binance's efforts to align with India's financial regulations, including adherence to anti-money laundering and taxation statutes. Before the crackdown, Binance held a commanding presence in the Indian market, with an estimated 90% of crypto holdings among Indian investors, totaling about $4 billion.<\/p>\n\n\n\n

See Related:<\/em><\/strong> Indian Parliament Passes A 30% Crypto Tax Law<\/a><\/p>\n\n\n\n

Nigeria Detains Binance Executives<\/h2>\n\n\n\n

Two months ago, Nigeria detained two executives of the Binance after they flew into the country. The country's Office of the National Security Adviser detained the two, and their passports were seized. <\/p>\n\n\n\n

Nigerian officials have leveled several charges against the cryptocurrency exchange Binance. The allegation includes exploiting the local economy, contributing to the devaluation of the Nigerian naira, and engaging in money laundering activities. They allege that Binance has been involved in manipulating the exchange rates by engaging in speculative actions and fixing rates. Furthermore, the Nigerian government has expressed concerns over $26 billion in transactions carried out on Binance's platform, which they report as being untraceable.<\/p>\n\n\n\n

Binance has denied any wrongdoing, but this is not the first time it has bumped heads with regulators.<\/p>\n","post_title":"Binance Set To Re-enter Indian Market with $2 Million Fine Settlement","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"binance-set-to-re-enter-indian-market-with-2-million-fine-settlement","to_ping":"","pinged":"","post_modified":"2024-04-20 04:11:08","post_modified_gmt":"2024-04-19 18:11:08","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16460","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":16362,"post_author":"15","post_date":"2024-04-15 03:52:59","post_date_gmt":"2024-04-14 17:52:59","post_content":"\n

Hong Kong is on the brink of approving spot exchange-traded funds (ETFs) for bitcoin and ether, potentially by Monday, Bloomberg reports<\/a>. This anticipated approval is poised to influence the cryptocurrency markets in the near term. The ETFs, if launched, will enable investors to trade bitcoin and ether on regulated platforms, enhancing the legitimacy and stability of investing in cryptocurrencies.<\/p>\n\n\n\n

Bloomberg\u2019s sources suggest that if the Hong Kong Exchanges & Clearing can finalize the listing details promptly, trading could commence by the end of April. Harvest Global Investments and Bosera Asset Management, in collaboration with HashKey Capital, are frontrunners in receiving the first approvals for these spot cryptocurrency ETFs. This move could cement Hong Kong's position as a major hub for digital assets in Asia, particularly if it leads to a successful market response similar to the U.S., where the approval of bitcoin ETFs in January triggered a price rally, pushing bitcoin\u2019s value to $73,000.<\/p>\n\n\n\n

However, unlike in the U.S., where ether ETFs have not yet been approved, Hong Kong might take the lead in this area as well. The city's market regulator, the Securities and Futures Commission (SFC), has not commented on the developments. Similarly, inquiries to Harvest Global Investments, Bosera Asset Management, HashKey Capital, and HKEX received no immediate response.<\/p>\n\n\n\n

See Related: <\/em><\/strong>Hong Kong Invests Over $6.4M Into Web 3 Development<\/a><\/p>\n\n\n\n

Ether ETF Update<\/h2>\n\n\n\n

The U.S. Securities and Exchange Commission (SEC) has once again delayed its decision on the application for an Ether ETF. A new deadline is set for May 23<\/a>.<\/p>\n\n\n\n

Despite this, analysts remain cautiously optimistic, estimating a 60% chance<\/a> of eventual approval. These delays and the ongoing review process indicate that the SEC is maintaining a cautious approach towards the approval of Ether ETFs. It reflects the complexities involved in integrating such products into the financial system.<\/p>\n","post_title":"Hong Kong Set to Approve Bitcoin And Ether ETFs By Monday","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"hong-kong-set-to-approve-bitcoin-and-ether-etfs-by-monday","to_ping":"","pinged":"","post_modified":"2024-04-15 03:53:05","post_modified_gmt":"2024-04-14 17:53:05","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16362","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":16347,"post_author":"15","post_date":"2024-04-14 00:03:48","post_date_gmt":"2024-04-13 14:03:48","post_content":"\n

Bitfinex Securities El Salvador is initiating a tokenized debt offering to fund the development of a Hampton by Hilton hotel complex spanning 4,484 square meters at El Salvador International Airport.<\/p>\n\n\n\n

In January, Bitfinex Securities<\/a> became the inaugural regulated entity to obtain a license to operate in El Salvador under the country\u2019s newly enacted Digital Asset Securities Law. This move anticipated a surge in demand for regulated investment vehicles, following the successful introduction of U.S. spot bitcoin exchange-traded funds.<\/p>\n\n\n\n

At the time, the tokenized securities platform announced its acceptance of customer applications and outlined a pipeline of potential financial asset issuances projected to launch in the year's first half.<\/p>\n\n\n\n

The tokenized debt, issued by El Salvadoran firm Inversiones Laguardia S.A. de C.V., is poised to be the inaugural token to trade on the platform. Utilizing the Liquid Network, a Bitcoin sidechain, the token will be denoted as HILSV and traded against U.S. dollars and Tether\u2019s USDT stablecoin.<\/p>\n\n\n\n

See Related: <\/em><\/strong>El Salvador Businesses Barely Impacted By Bitcoins Legality<\/a><\/p>\n\n\n\n

El Salvador Leads The Way<\/h2>\n\n\n\n


El Salvador stands at the forefront of cryptocurrency adoption wherein Bitcoin is recognized as legal tender. Since June 2021, it has been the first country to embrace Bitcoin alongside the US dollar for everyday transactions, making significant strides in the global crypto landscape. <\/p>\n\n\n\n

Under President Nayib Bukele, the government has initiated a groundbreaking project, where the state purchases one Bitcoin daily to bolster its reserves. <\/p>\n","post_title":"Bitfinex Securities Launches Tokenized Debt Offering For A Hotel In El Salvador","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"bitfinex-securities-launches-tokenized-debt-offering-for-a-hotel-in-el-salvador","to_ping":"","pinged":"","post_modified":"2024-04-14 00:03:52","post_modified_gmt":"2024-04-13 14:03:52","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16347","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 … 4 5 6 7 8 … 20

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

See Related: <\/em><\/strong>Trump Drops Series 2 Of Digital Trading Card NFTs On Polygon<\/a><\/p>\n\n\n\n

U.S. Presidency Candidates And Their Stance On Crypto<\/h2>\n\n\n\n

As the 2024 U.S. presidential election nears, candidates face scrutiny over their stance on cryptocurrency regulation. Republican nominee and former President Donald Trump has shown enthusiasm. <\/p>\n\n\n\n

On the other hand, the Democratic nominee emphasizes balanced regulation to safeguard consumers and curb illegal activities, reflecting broader party sentiments. However, within each party, there's a range of views, from advocating for stringent oversight to promoting innovation. With crypto's increasing impact across sectors, including finance and technology, the candidates' positions are poised to shape the industry's future and its interaction with the government.<\/p>\n","post_title":"Trump Pledges To Accept Cryptocurrency For Campaign Donations","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"trump-pledges-to-accept-cryptocurrency-for-campaign-donations","to_ping":"","pinged":"","post_modified":"2024-05-13 00:31:26","post_modified_gmt":"2024-05-12 14:31:26","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16843","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":16856,"post_author":"15","post_date":"2024-05-12 20:19:19","post_date_gmt":"2024-05-12 10:19:19","post_content":"\n

Wells Fargo, a prominent American bank, revealed its investments in several Bitcoin exchange-traded funds (ETFs) in a recent regulatory filing. This move aligns Wells Fargo with other institutions embracing crypto-based investment vehicles. <\/p>\n\n\n\n

According to the filing <\/a>with the U.S. Securities and Exchange Commission (SEC), the bank has purchased shares of Grayscale's GBTC spot Bitcoin ETF and has exposure to Bitcoin Depot Inc., a Bitcoin ATM provider. Additionally, the filing shows that Wells Fargo has invested in the ProShares Bitcoin Strategy ETF (BITO), which offers investors exposure to BTC futures\u2014contracts speculating on the future price of the asset.<\/p>\n\n\n\n

Despite these investments, Wells Fargo's exposure to Bitcoin ETFs remains relatively small. The filing indicates that its investment in GBTC amounts to $141,817, while its investment in ProShares is under $1,200. The exposure to Bitcoin Depot stands at just $99.<\/p>\n\n\n\n

This disclosure comes after a report in February suggested that Wells Fargo, along with Bank of America's Merrill division, was providing its wealth management clients with exposure to Bitcoin ETFs via brokerage accounts. Wells Fargo has shown repeated interest in digital assets and even piloted its digital currency back in 2019.<\/p>\n\n\n\n

See Related:<\/em><\/strong> Bitcoin ETFs Hit Mainstream: BofA\u2019s Merrill, Wells Fargo Now Offer Spot Trading<\/a><\/p>\n\n\n\n

Bitcoin spot ETF era<\/h2>\n\n\n\n

The SEC's approval of 11 spot BTC ETFs in January has led to significant success for these products. This success mirrors the soaring price of Bitcoin, which reached an all-time high of $73,747 in March. The Bitcoin spot ETF issuers now hold 847,427 BTC which is at $50 billion at the time of writing. <\/p>\n\n\n\n

Hong Kong recently approved and started trading Bitcoin and Ethereum spot ETF. <\/p>\n","post_title":"Wells Fargo Dips Toes Into Crypto With Bitcoin ETF Investments","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"wells-fargo-dips-toes-into-crypto-with-bitcoin-etf-investments","to_ping":"","pinged":"","post_modified":"2024-05-12 20:19:23","post_modified_gmt":"2024-05-12 10:19:23","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16856","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":16761,"post_author":"15","post_date":"2024-05-06 23:24:50","post_date_gmt":"2024-05-06 13:24:50","post_content":"\n

The Grayscale Bitcoin Trust ETF ($GBTC) recently experienced a shift in its financial trend. It registers an inflow of $63 million and breaks an 11-week rally of net losses according to the Farside Investors<\/a>.<\/p>\n\n\n\n

\"Bitcoin
Since the inception of Bitcoin spot ETF in the U.S., GBTC has recorded outflows every single trading day.<\/figcaption><\/figure>\n\n\n\n

Bloomberg ETF analyst Eric Balchunas expressed his surprise<\/a> on Twitter, stating, \"Holy crap $GBTC had inflows today,\" and noted that their nearly 80-day streak of outflows had ended. He humorously remarked on the significance of this change, asking his followers to rate how significant this turnaround was for GBTC.<\/p>\n\n\n\n

Despite these challenges, GBTC remains the largest Bitcoin spot ETF, managing over $18.7 billion in assets and holding approximately 297,000 Bitcoin. However, consistent withdrawals have allowed new entrants like the BlackRock iShares Bitcoin Trust (IBIT), which now has $17.2 billion in assets, to narrow the gap.<\/p>\n\n\n\n

This news comes shortly after a downturn for IBIT, which saw a reduction of $37 million just a day earlier, as per Farside Investors. This event was part of a broader trend that saw the ETF market experience its worst day ever, with a total outflow of $563 million amid a decline in Bitcoin prices.<\/p>\n\n\n\n

See Related:<\/em><\/strong> GBTC Price Prediction after Judges Raised Hope for Investors In Favour Of Grayscale<\/a><\/p>\n\n\n\n

Bitcoin ETF in Asia<\/h2>\n\n\n\n

Hong Kong has recently made strides in the cryptocurrency market with the introduction of spot exchange-traded funds (ETFs) for Bitcoin and Ethereum. This development reflects Hong Kong's growing embrace of digital currencies and its ambition to become a major hub for cryptocurrency trading and finance. <\/p>\n\n\n\n

The trading started last April 30 and shows $12 million in trading volume on its first day. Bitcoin spot ETF recorded a $8.5 million and Ethereum spot ETF $2.5 million in trading volume. <\/p>\n","post_title":"Grayscale Bitcoin Trust Rebounds With $63 Million Influx After 80-Day Drought","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"grayscale-bitcoin-trust-rebounds-with-63-million-influx-after-80-day-drought","to_ping":"","pinged":"","post_modified":"2024-05-06 23:24:54","post_modified_gmt":"2024-05-06 13:24:54","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16761","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":16722,"post_author":"15","post_date":"2024-05-04 02:07:14","post_date_gmt":"2024-05-03 16:07:14","post_content":"\n

Elliptic, a blockchain analysis firm, released a study <\/a>conducted with the MIT-IBM Watson AI Lab on Wednesday. This study utilized a deep learning AI model to identify money laundering patterns within Bitcoin transactions and pinpoint wallets involved in criminal activities.<\/p>\n\n\n\n

Bitcoin's use of a decentralized public ledger, a fundamental aspect of the technology, facilitated the research, according to Elliptic. The collaboration between Elliptic and MIT-IBM leveraged AI to distinguish between legal and illegal transactions, tracking connections within the latter to expose potential money laundering activities.<\/p>\n\n\n\n

Elliptic stated, \u201cBlockchains provide fertile ground for machine learning techniques, thanks to the availability of both transaction data and information on the types of entities that are transacting, collected by us and others. This is in contrast to traditional finance where transaction data is typically siloed, making it challenging to apply these techniques.\u201d<\/em><\/p>\n\n\n\n

Elliptic clarified that instead of directly identifying transactions by illicit actors, the machine learning model is trained to recognize 'subgraphs'\u2014sequences of transactions that depict the laundering of Bitcoin. This method focuses more broadly on the multi-step laundering process rather than specific illegal actions on the blockchain.<\/p>\n\n\n\n

See Related:<\/em><\/strong> Binance's $3.9 Billion USDT Transfer Sparks Speculation Amidst CEO's Guilty Plea<\/a><\/p>\n\n\n\n

Money Laundering in 2024 Reports<\/h2>\n\n\n\n

In 2023, the volume of cryptocurrency involved in money laundering activities decreased significantly, with centralized exchanges continuing as the primary channels for such transactions. DeFi protocols and gambling services saw an uptick in use for laundering, yet they generally lack the anonymity preferred by launderers.<\/p>\n\n\n\n

Sophisticated criminals, particularly North Korea's Lazarus Group, adapted to law enforcement tactics by employing new mixers and utilizing cross-chain bridges to launder funds. These methods allow them to obfuscate the origins of illicit funds more effectively across multiple blockchain platforms, demonstrating a dynamic shift in the techniques used by high-level criminal enterprises to evade detection.<\/p>\n","post_title":"AI Powers New Tool To Detect Illegal Bitcoin Transactions, Study Shows","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"ai-powers-new-tool-to-detect-illegal-bitcoin-transactions-study-shows","to_ping":"","pinged":"","post_modified":"2024-05-04 02:07:20","post_modified_gmt":"2024-05-03 16:07:20","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16722","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":16491,"post_author":"15","post_date":"2024-04-21 10:09:53","post_date_gmt":"2024-04-21 00:09:53","post_content":"\n

Entrepreneur and Dallas Mavericks owner Mark Cuban recently discussed the implications of the upcoming Bitcoin halving. He emphasized its significant impact on miner revenues.<\/p>\n\n\n\n

During an interview <\/a>with The Block, Cuban pointed out that the halving will reduce mining rewards from 6.25 BTC to 3.125 BTC, effectively slashing the income for bitcoin miners by nearly half. However, Cuban expressed greater curiosity about the role artificial intelligence (AI) might play in the mining sector, especially concerning the demand for GPUs.<\/p>\n\n\n\n

Cuban highlighted the intense competition between AI's needs for GPUs and cryptocurrency mining's demands. He questioned whether the economic landscape of mining could be altered by the booming AI industry, asking if it might be more profitable to utilize GPUs for AI model training rather than mining. This issue primarily affects miners using GPUs for cryptocurrencies other than Bitcoin, which typically relies on ASIC machines.<\/p>\n\n\n\n

The intersection of AI and cryptocurrency mining is already seeing practical applications, with companies like Xive and Hive Digital Technologies expanding into AI to bolster their primary mining operations. <\/p>\n\n\n\n

See Related:<\/em><\/strong> Cryptocurrency Statistics And Insights (2022)<\/a><\/p>\n\n\n\n

Bitcoin Halving is Coming<\/h2>\n\n\n\n

Bitcoin halving is a significant event in the cryptocurrency world that occurs approximately every four years, or after 210,000 blocks are mined. During a halving, bitcoin miners' reward for verifying transactions and adding them to the blockchain is reduced by half. This mechanism was designed by Satoshi Nakamoto, the anonymous creator of Bitcoin, to control inflation by limiting the total number of bitcoins that can ever be in circulation to 21 million.<\/p>\n\n\n\n

As of writing, the price of Bitcoin is at $63,760, and 2 blocks remaining until the next Bitcoin halving.<\/p>\n","post_title":"Bitcoin Halving To Slash Miner Earnings, Cuban Eyes AI Shift","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"bitcoin-halving-to-slash-miner-earnings-cuban-eyes-ai-shift","to_ping":"","pinged":"","post_modified":"2024-04-21 10:10:00","post_modified_gmt":"2024-04-21 00:10:00","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16491","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":16460,"post_author":"15","post_date":"2024-04-19 23:38:06","post_date_gmt":"2024-04-19 13:38:06","post_content":"\n

Binance, the leading global cryptocurrency exchange, is set to make a comeback in India after agreeing to pay a $2 million penalty. This development follows a period of stringent regulatory scrutiny where the Indian government blocked nine cryptocurrency websites. They also prompted the removal of related apps from Apple and Google stores due to non-compliance with local laws. <\/p>\n\n\n\n

According to the Economic Times<\/a>, sources close to the matter indicate that Binance is restructuring its operations in South Asia. The cryptocurrency exchange is planning to fully comply with the Financial Intelligence Unit of India, which regulates the local trading of digital assets.<\/p>\n\n\n\n

The move comes as part of Binance's efforts to align with India's financial regulations, including adherence to anti-money laundering and taxation statutes. Before the crackdown, Binance held a commanding presence in the Indian market, with an estimated 90% of crypto holdings among Indian investors, totaling about $4 billion.<\/p>\n\n\n\n

See Related:<\/em><\/strong> Indian Parliament Passes A 30% Crypto Tax Law<\/a><\/p>\n\n\n\n

Nigeria Detains Binance Executives<\/h2>\n\n\n\n

Two months ago, Nigeria detained two executives of the Binance after they flew into the country. The country's Office of the National Security Adviser detained the two, and their passports were seized. <\/p>\n\n\n\n

Nigerian officials have leveled several charges against the cryptocurrency exchange Binance. The allegation includes exploiting the local economy, contributing to the devaluation of the Nigerian naira, and engaging in money laundering activities. They allege that Binance has been involved in manipulating the exchange rates by engaging in speculative actions and fixing rates. Furthermore, the Nigerian government has expressed concerns over $26 billion in transactions carried out on Binance's platform, which they report as being untraceable.<\/p>\n\n\n\n

Binance has denied any wrongdoing, but this is not the first time it has bumped heads with regulators.<\/p>\n","post_title":"Binance Set To Re-enter Indian Market with $2 Million Fine Settlement","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"binance-set-to-re-enter-indian-market-with-2-million-fine-settlement","to_ping":"","pinged":"","post_modified":"2024-04-20 04:11:08","post_modified_gmt":"2024-04-19 18:11:08","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16460","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":16362,"post_author":"15","post_date":"2024-04-15 03:52:59","post_date_gmt":"2024-04-14 17:52:59","post_content":"\n

Hong Kong is on the brink of approving spot exchange-traded funds (ETFs) for bitcoin and ether, potentially by Monday, Bloomberg reports<\/a>. This anticipated approval is poised to influence the cryptocurrency markets in the near term. The ETFs, if launched, will enable investors to trade bitcoin and ether on regulated platforms, enhancing the legitimacy and stability of investing in cryptocurrencies.<\/p>\n\n\n\n

Bloomberg\u2019s sources suggest that if the Hong Kong Exchanges & Clearing can finalize the listing details promptly, trading could commence by the end of April. Harvest Global Investments and Bosera Asset Management, in collaboration with HashKey Capital, are frontrunners in receiving the first approvals for these spot cryptocurrency ETFs. This move could cement Hong Kong's position as a major hub for digital assets in Asia, particularly if it leads to a successful market response similar to the U.S., where the approval of bitcoin ETFs in January triggered a price rally, pushing bitcoin\u2019s value to $73,000.<\/p>\n\n\n\n

However, unlike in the U.S., where ether ETFs have not yet been approved, Hong Kong might take the lead in this area as well. The city's market regulator, the Securities and Futures Commission (SFC), has not commented on the developments. Similarly, inquiries to Harvest Global Investments, Bosera Asset Management, HashKey Capital, and HKEX received no immediate response.<\/p>\n\n\n\n

See Related: <\/em><\/strong>Hong Kong Invests Over $6.4M Into Web 3 Development<\/a><\/p>\n\n\n\n

Ether ETF Update<\/h2>\n\n\n\n

The U.S. Securities and Exchange Commission (SEC) has once again delayed its decision on the application for an Ether ETF. A new deadline is set for May 23<\/a>.<\/p>\n\n\n\n

Despite this, analysts remain cautiously optimistic, estimating a 60% chance<\/a> of eventual approval. These delays and the ongoing review process indicate that the SEC is maintaining a cautious approach towards the approval of Ether ETFs. It reflects the complexities involved in integrating such products into the financial system.<\/p>\n","post_title":"Hong Kong Set to Approve Bitcoin And Ether ETFs By Monday","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"hong-kong-set-to-approve-bitcoin-and-ether-etfs-by-monday","to_ping":"","pinged":"","post_modified":"2024-04-15 03:53:05","post_modified_gmt":"2024-04-14 17:53:05","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16362","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":16347,"post_author":"15","post_date":"2024-04-14 00:03:48","post_date_gmt":"2024-04-13 14:03:48","post_content":"\n

Bitfinex Securities El Salvador is initiating a tokenized debt offering to fund the development of a Hampton by Hilton hotel complex spanning 4,484 square meters at El Salvador International Airport.<\/p>\n\n\n\n

In January, Bitfinex Securities<\/a> became the inaugural regulated entity to obtain a license to operate in El Salvador under the country\u2019s newly enacted Digital Asset Securities Law. This move anticipated a surge in demand for regulated investment vehicles, following the successful introduction of U.S. spot bitcoin exchange-traded funds.<\/p>\n\n\n\n

At the time, the tokenized securities platform announced its acceptance of customer applications and outlined a pipeline of potential financial asset issuances projected to launch in the year's first half.<\/p>\n\n\n\n

The tokenized debt, issued by El Salvadoran firm Inversiones Laguardia S.A. de C.V., is poised to be the inaugural token to trade on the platform. Utilizing the Liquid Network, a Bitcoin sidechain, the token will be denoted as HILSV and traded against U.S. dollars and Tether\u2019s USDT stablecoin.<\/p>\n\n\n\n

See Related: <\/em><\/strong>El Salvador Businesses Barely Impacted By Bitcoins Legality<\/a><\/p>\n\n\n\n

El Salvador Leads The Way<\/h2>\n\n\n\n


El Salvador stands at the forefront of cryptocurrency adoption wherein Bitcoin is recognized as legal tender. Since June 2021, it has been the first country to embrace Bitcoin alongside the US dollar for everyday transactions, making significant strides in the global crypto landscape. <\/p>\n\n\n\n

Under President Nayib Bukele, the government has initiated a groundbreaking project, where the state purchases one Bitcoin daily to bolster its reserves. <\/p>\n","post_title":"Bitfinex Securities Launches Tokenized Debt Offering For A Hotel In El Salvador","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"bitfinex-securities-launches-tokenized-debt-offering-for-a-hotel-in-el-salvador","to_ping":"","pinged":"","post_modified":"2024-04-14 00:03:52","post_modified_gmt":"2024-04-13 14:03:52","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16347","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 … 4 5 6 7 8 … 20

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

Regarding the crypto industry's presence in the U.S., Trump pledged to work towards retaining it, emphasizing the importance of embracing crypto businesses. His statements led to an 18.5% surge in the \"Jeo Boden\" memecoin, inspired by President Biden, according to CoinMarketCap data<\/a>. Trump expressed skepticism about the token's market capitalization, deeming it excessive.<\/p>\n\n\n\n

See Related: <\/em><\/strong>Trump Drops Series 2 Of Digital Trading Card NFTs On Polygon<\/a><\/p>\n\n\n\n

U.S. Presidency Candidates And Their Stance On Crypto<\/h2>\n\n\n\n

As the 2024 U.S. presidential election nears, candidates face scrutiny over their stance on cryptocurrency regulation. Republican nominee and former President Donald Trump has shown enthusiasm. <\/p>\n\n\n\n

On the other hand, the Democratic nominee emphasizes balanced regulation to safeguard consumers and curb illegal activities, reflecting broader party sentiments. However, within each party, there's a range of views, from advocating for stringent oversight to promoting innovation. With crypto's increasing impact across sectors, including finance and technology, the candidates' positions are poised to shape the industry's future and its interaction with the government.<\/p>\n","post_title":"Trump Pledges To Accept Cryptocurrency For Campaign Donations","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"trump-pledges-to-accept-cryptocurrency-for-campaign-donations","to_ping":"","pinged":"","post_modified":"2024-05-13 00:31:26","post_modified_gmt":"2024-05-12 14:31:26","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16843","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":16856,"post_author":"15","post_date":"2024-05-12 20:19:19","post_date_gmt":"2024-05-12 10:19:19","post_content":"\n

Wells Fargo, a prominent American bank, revealed its investments in several Bitcoin exchange-traded funds (ETFs) in a recent regulatory filing. This move aligns Wells Fargo with other institutions embracing crypto-based investment vehicles. <\/p>\n\n\n\n

According to the filing <\/a>with the U.S. Securities and Exchange Commission (SEC), the bank has purchased shares of Grayscale's GBTC spot Bitcoin ETF and has exposure to Bitcoin Depot Inc., a Bitcoin ATM provider. Additionally, the filing shows that Wells Fargo has invested in the ProShares Bitcoin Strategy ETF (BITO), which offers investors exposure to BTC futures\u2014contracts speculating on the future price of the asset.<\/p>\n\n\n\n

Despite these investments, Wells Fargo's exposure to Bitcoin ETFs remains relatively small. The filing indicates that its investment in GBTC amounts to $141,817, while its investment in ProShares is under $1,200. The exposure to Bitcoin Depot stands at just $99.<\/p>\n\n\n\n

This disclosure comes after a report in February suggested that Wells Fargo, along with Bank of America's Merrill division, was providing its wealth management clients with exposure to Bitcoin ETFs via brokerage accounts. Wells Fargo has shown repeated interest in digital assets and even piloted its digital currency back in 2019.<\/p>\n\n\n\n

See Related:<\/em><\/strong> Bitcoin ETFs Hit Mainstream: BofA\u2019s Merrill, Wells Fargo Now Offer Spot Trading<\/a><\/p>\n\n\n\n

Bitcoin spot ETF era<\/h2>\n\n\n\n

The SEC's approval of 11 spot BTC ETFs in January has led to significant success for these products. This success mirrors the soaring price of Bitcoin, which reached an all-time high of $73,747 in March. The Bitcoin spot ETF issuers now hold 847,427 BTC which is at $50 billion at the time of writing. <\/p>\n\n\n\n

Hong Kong recently approved and started trading Bitcoin and Ethereum spot ETF. <\/p>\n","post_title":"Wells Fargo Dips Toes Into Crypto With Bitcoin ETF Investments","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"wells-fargo-dips-toes-into-crypto-with-bitcoin-etf-investments","to_ping":"","pinged":"","post_modified":"2024-05-12 20:19:23","post_modified_gmt":"2024-05-12 10:19:23","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16856","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":16761,"post_author":"15","post_date":"2024-05-06 23:24:50","post_date_gmt":"2024-05-06 13:24:50","post_content":"\n

The Grayscale Bitcoin Trust ETF ($GBTC) recently experienced a shift in its financial trend. It registers an inflow of $63 million and breaks an 11-week rally of net losses according to the Farside Investors<\/a>.<\/p>\n\n\n\n

\"Bitcoin
Since the inception of Bitcoin spot ETF in the U.S., GBTC has recorded outflows every single trading day.<\/figcaption><\/figure>\n\n\n\n

Bloomberg ETF analyst Eric Balchunas expressed his surprise<\/a> on Twitter, stating, \"Holy crap $GBTC had inflows today,\" and noted that their nearly 80-day streak of outflows had ended. He humorously remarked on the significance of this change, asking his followers to rate how significant this turnaround was for GBTC.<\/p>\n\n\n\n

Despite these challenges, GBTC remains the largest Bitcoin spot ETF, managing over $18.7 billion in assets and holding approximately 297,000 Bitcoin. However, consistent withdrawals have allowed new entrants like the BlackRock iShares Bitcoin Trust (IBIT), which now has $17.2 billion in assets, to narrow the gap.<\/p>\n\n\n\n

This news comes shortly after a downturn for IBIT, which saw a reduction of $37 million just a day earlier, as per Farside Investors. This event was part of a broader trend that saw the ETF market experience its worst day ever, with a total outflow of $563 million amid a decline in Bitcoin prices.<\/p>\n\n\n\n

See Related:<\/em><\/strong> GBTC Price Prediction after Judges Raised Hope for Investors In Favour Of Grayscale<\/a><\/p>\n\n\n\n

Bitcoin ETF in Asia<\/h2>\n\n\n\n

Hong Kong has recently made strides in the cryptocurrency market with the introduction of spot exchange-traded funds (ETFs) for Bitcoin and Ethereum. This development reflects Hong Kong's growing embrace of digital currencies and its ambition to become a major hub for cryptocurrency trading and finance. <\/p>\n\n\n\n

The trading started last April 30 and shows $12 million in trading volume on its first day. Bitcoin spot ETF recorded a $8.5 million and Ethereum spot ETF $2.5 million in trading volume. <\/p>\n","post_title":"Grayscale Bitcoin Trust Rebounds With $63 Million Influx After 80-Day Drought","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"grayscale-bitcoin-trust-rebounds-with-63-million-influx-after-80-day-drought","to_ping":"","pinged":"","post_modified":"2024-05-06 23:24:54","post_modified_gmt":"2024-05-06 13:24:54","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16761","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":16722,"post_author":"15","post_date":"2024-05-04 02:07:14","post_date_gmt":"2024-05-03 16:07:14","post_content":"\n

Elliptic, a blockchain analysis firm, released a study <\/a>conducted with the MIT-IBM Watson AI Lab on Wednesday. This study utilized a deep learning AI model to identify money laundering patterns within Bitcoin transactions and pinpoint wallets involved in criminal activities.<\/p>\n\n\n\n

Bitcoin's use of a decentralized public ledger, a fundamental aspect of the technology, facilitated the research, according to Elliptic. The collaboration between Elliptic and MIT-IBM leveraged AI to distinguish between legal and illegal transactions, tracking connections within the latter to expose potential money laundering activities.<\/p>\n\n\n\n

Elliptic stated, \u201cBlockchains provide fertile ground for machine learning techniques, thanks to the availability of both transaction data and information on the types of entities that are transacting, collected by us and others. This is in contrast to traditional finance where transaction data is typically siloed, making it challenging to apply these techniques.\u201d<\/em><\/p>\n\n\n\n

Elliptic clarified that instead of directly identifying transactions by illicit actors, the machine learning model is trained to recognize 'subgraphs'\u2014sequences of transactions that depict the laundering of Bitcoin. This method focuses more broadly on the multi-step laundering process rather than specific illegal actions on the blockchain.<\/p>\n\n\n\n

See Related:<\/em><\/strong> Binance's $3.9 Billion USDT Transfer Sparks Speculation Amidst CEO's Guilty Plea<\/a><\/p>\n\n\n\n

Money Laundering in 2024 Reports<\/h2>\n\n\n\n

In 2023, the volume of cryptocurrency involved in money laundering activities decreased significantly, with centralized exchanges continuing as the primary channels for such transactions. DeFi protocols and gambling services saw an uptick in use for laundering, yet they generally lack the anonymity preferred by launderers.<\/p>\n\n\n\n

Sophisticated criminals, particularly North Korea's Lazarus Group, adapted to law enforcement tactics by employing new mixers and utilizing cross-chain bridges to launder funds. These methods allow them to obfuscate the origins of illicit funds more effectively across multiple blockchain platforms, demonstrating a dynamic shift in the techniques used by high-level criminal enterprises to evade detection.<\/p>\n","post_title":"AI Powers New Tool To Detect Illegal Bitcoin Transactions, Study Shows","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"ai-powers-new-tool-to-detect-illegal-bitcoin-transactions-study-shows","to_ping":"","pinged":"","post_modified":"2024-05-04 02:07:20","post_modified_gmt":"2024-05-03 16:07:20","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16722","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":16491,"post_author":"15","post_date":"2024-04-21 10:09:53","post_date_gmt":"2024-04-21 00:09:53","post_content":"\n

Entrepreneur and Dallas Mavericks owner Mark Cuban recently discussed the implications of the upcoming Bitcoin halving. He emphasized its significant impact on miner revenues.<\/p>\n\n\n\n

During an interview <\/a>with The Block, Cuban pointed out that the halving will reduce mining rewards from 6.25 BTC to 3.125 BTC, effectively slashing the income for bitcoin miners by nearly half. However, Cuban expressed greater curiosity about the role artificial intelligence (AI) might play in the mining sector, especially concerning the demand for GPUs.<\/p>\n\n\n\n

Cuban highlighted the intense competition between AI's needs for GPUs and cryptocurrency mining's demands. He questioned whether the economic landscape of mining could be altered by the booming AI industry, asking if it might be more profitable to utilize GPUs for AI model training rather than mining. This issue primarily affects miners using GPUs for cryptocurrencies other than Bitcoin, which typically relies on ASIC machines.<\/p>\n\n\n\n

The intersection of AI and cryptocurrency mining is already seeing practical applications, with companies like Xive and Hive Digital Technologies expanding into AI to bolster their primary mining operations. <\/p>\n\n\n\n

See Related:<\/em><\/strong> Cryptocurrency Statistics And Insights (2022)<\/a><\/p>\n\n\n\n

Bitcoin Halving is Coming<\/h2>\n\n\n\n

Bitcoin halving is a significant event in the cryptocurrency world that occurs approximately every four years, or after 210,000 blocks are mined. During a halving, bitcoin miners' reward for verifying transactions and adding them to the blockchain is reduced by half. This mechanism was designed by Satoshi Nakamoto, the anonymous creator of Bitcoin, to control inflation by limiting the total number of bitcoins that can ever be in circulation to 21 million.<\/p>\n\n\n\n

As of writing, the price of Bitcoin is at $63,760, and 2 blocks remaining until the next Bitcoin halving.<\/p>\n","post_title":"Bitcoin Halving To Slash Miner Earnings, Cuban Eyes AI Shift","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"bitcoin-halving-to-slash-miner-earnings-cuban-eyes-ai-shift","to_ping":"","pinged":"","post_modified":"2024-04-21 10:10:00","post_modified_gmt":"2024-04-21 00:10:00","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16491","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":16460,"post_author":"15","post_date":"2024-04-19 23:38:06","post_date_gmt":"2024-04-19 13:38:06","post_content":"\n

Binance, the leading global cryptocurrency exchange, is set to make a comeback in India after agreeing to pay a $2 million penalty. This development follows a period of stringent regulatory scrutiny where the Indian government blocked nine cryptocurrency websites. They also prompted the removal of related apps from Apple and Google stores due to non-compliance with local laws. <\/p>\n\n\n\n

According to the Economic Times<\/a>, sources close to the matter indicate that Binance is restructuring its operations in South Asia. The cryptocurrency exchange is planning to fully comply with the Financial Intelligence Unit of India, which regulates the local trading of digital assets.<\/p>\n\n\n\n

The move comes as part of Binance's efforts to align with India's financial regulations, including adherence to anti-money laundering and taxation statutes. Before the crackdown, Binance held a commanding presence in the Indian market, with an estimated 90% of crypto holdings among Indian investors, totaling about $4 billion.<\/p>\n\n\n\n

See Related:<\/em><\/strong> Indian Parliament Passes A 30% Crypto Tax Law<\/a><\/p>\n\n\n\n

Nigeria Detains Binance Executives<\/h2>\n\n\n\n

Two months ago, Nigeria detained two executives of the Binance after they flew into the country. The country's Office of the National Security Adviser detained the two, and their passports were seized. <\/p>\n\n\n\n

Nigerian officials have leveled several charges against the cryptocurrency exchange Binance. The allegation includes exploiting the local economy, contributing to the devaluation of the Nigerian naira, and engaging in money laundering activities. They allege that Binance has been involved in manipulating the exchange rates by engaging in speculative actions and fixing rates. Furthermore, the Nigerian government has expressed concerns over $26 billion in transactions carried out on Binance's platform, which they report as being untraceable.<\/p>\n\n\n\n

Binance has denied any wrongdoing, but this is not the first time it has bumped heads with regulators.<\/p>\n","post_title":"Binance Set To Re-enter Indian Market with $2 Million Fine Settlement","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"binance-set-to-re-enter-indian-market-with-2-million-fine-settlement","to_ping":"","pinged":"","post_modified":"2024-04-20 04:11:08","post_modified_gmt":"2024-04-19 18:11:08","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16460","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":16362,"post_author":"15","post_date":"2024-04-15 03:52:59","post_date_gmt":"2024-04-14 17:52:59","post_content":"\n

Hong Kong is on the brink of approving spot exchange-traded funds (ETFs) for bitcoin and ether, potentially by Monday, Bloomberg reports<\/a>. This anticipated approval is poised to influence the cryptocurrency markets in the near term. The ETFs, if launched, will enable investors to trade bitcoin and ether on regulated platforms, enhancing the legitimacy and stability of investing in cryptocurrencies.<\/p>\n\n\n\n

Bloomberg\u2019s sources suggest that if the Hong Kong Exchanges & Clearing can finalize the listing details promptly, trading could commence by the end of April. Harvest Global Investments and Bosera Asset Management, in collaboration with HashKey Capital, are frontrunners in receiving the first approvals for these spot cryptocurrency ETFs. This move could cement Hong Kong's position as a major hub for digital assets in Asia, particularly if it leads to a successful market response similar to the U.S., where the approval of bitcoin ETFs in January triggered a price rally, pushing bitcoin\u2019s value to $73,000.<\/p>\n\n\n\n

However, unlike in the U.S., where ether ETFs have not yet been approved, Hong Kong might take the lead in this area as well. The city's market regulator, the Securities and Futures Commission (SFC), has not commented on the developments. Similarly, inquiries to Harvest Global Investments, Bosera Asset Management, HashKey Capital, and HKEX received no immediate response.<\/p>\n\n\n\n

See Related: <\/em><\/strong>Hong Kong Invests Over $6.4M Into Web 3 Development<\/a><\/p>\n\n\n\n

Ether ETF Update<\/h2>\n\n\n\n

The U.S. Securities and Exchange Commission (SEC) has once again delayed its decision on the application for an Ether ETF. A new deadline is set for May 23<\/a>.<\/p>\n\n\n\n

Despite this, analysts remain cautiously optimistic, estimating a 60% chance<\/a> of eventual approval. These delays and the ongoing review process indicate that the SEC is maintaining a cautious approach towards the approval of Ether ETFs. It reflects the complexities involved in integrating such products into the financial system.<\/p>\n","post_title":"Hong Kong Set to Approve Bitcoin And Ether ETFs By Monday","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"hong-kong-set-to-approve-bitcoin-and-ether-etfs-by-monday","to_ping":"","pinged":"","post_modified":"2024-04-15 03:53:05","post_modified_gmt":"2024-04-14 17:53:05","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16362","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":16347,"post_author":"15","post_date":"2024-04-14 00:03:48","post_date_gmt":"2024-04-13 14:03:48","post_content":"\n

Bitfinex Securities El Salvador is initiating a tokenized debt offering to fund the development of a Hampton by Hilton hotel complex spanning 4,484 square meters at El Salvador International Airport.<\/p>\n\n\n\n

In January, Bitfinex Securities<\/a> became the inaugural regulated entity to obtain a license to operate in El Salvador under the country\u2019s newly enacted Digital Asset Securities Law. This move anticipated a surge in demand for regulated investment vehicles, following the successful introduction of U.S. spot bitcoin exchange-traded funds.<\/p>\n\n\n\n

At the time, the tokenized securities platform announced its acceptance of customer applications and outlined a pipeline of potential financial asset issuances projected to launch in the year's first half.<\/p>\n\n\n\n

The tokenized debt, issued by El Salvadoran firm Inversiones Laguardia S.A. de C.V., is poised to be the inaugural token to trade on the platform. Utilizing the Liquid Network, a Bitcoin sidechain, the token will be denoted as HILSV and traded against U.S. dollars and Tether\u2019s USDT stablecoin.<\/p>\n\n\n\n

See Related: <\/em><\/strong>El Salvador Businesses Barely Impacted By Bitcoins Legality<\/a><\/p>\n\n\n\n

El Salvador Leads The Way<\/h2>\n\n\n\n


El Salvador stands at the forefront of cryptocurrency adoption wherein Bitcoin is recognized as legal tender. Since June 2021, it has been the first country to embrace Bitcoin alongside the US dollar for everyday transactions, making significant strides in the global crypto landscape. <\/p>\n\n\n\n

Under President Nayib Bukele, the government has initiated a groundbreaking project, where the state purchases one Bitcoin daily to bolster its reserves. <\/p>\n","post_title":"Bitfinex Securities Launches Tokenized Debt Offering For A Hotel In El Salvador","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"bitfinex-securities-launches-tokenized-debt-offering-for-a-hotel-in-el-salvador","to_ping":"","pinged":"","post_modified":"2024-04-14 00:03:52","post_modified_gmt":"2024-04-13 14:03:52","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16347","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

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\n

Trump's remarks were made during a gathering he organized to meet with buyers of his \"Mugshot Edition\" NFTs. Attendees, who individually purchased over 47 NFTs priced at $99 each, were invited to a dinner on their day off from trial. Trump boasted about revitalizing interest in NFTs, stating, \"We made NFTs hot again.\"<\/p>\n\n\n\n

Regarding the crypto industry's presence in the U.S., Trump pledged to work towards retaining it, emphasizing the importance of embracing crypto businesses. His statements led to an 18.5% surge in the \"Jeo Boden\" memecoin, inspired by President Biden, according to CoinMarketCap data<\/a>. Trump expressed skepticism about the token's market capitalization, deeming it excessive.<\/p>\n\n\n\n

See Related: <\/em><\/strong>Trump Drops Series 2 Of Digital Trading Card NFTs On Polygon<\/a><\/p>\n\n\n\n

U.S. Presidency Candidates And Their Stance On Crypto<\/h2>\n\n\n\n

As the 2024 U.S. presidential election nears, candidates face scrutiny over their stance on cryptocurrency regulation. Republican nominee and former President Donald Trump has shown enthusiasm. <\/p>\n\n\n\n

On the other hand, the Democratic nominee emphasizes balanced regulation to safeguard consumers and curb illegal activities, reflecting broader party sentiments. However, within each party, there's a range of views, from advocating for stringent oversight to promoting innovation. With crypto's increasing impact across sectors, including finance and technology, the candidates' positions are poised to shape the industry's future and its interaction with the government.<\/p>\n","post_title":"Trump Pledges To Accept Cryptocurrency For Campaign Donations","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"trump-pledges-to-accept-cryptocurrency-for-campaign-donations","to_ping":"","pinged":"","post_modified":"2024-05-13 00:31:26","post_modified_gmt":"2024-05-12 14:31:26","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16843","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":16856,"post_author":"15","post_date":"2024-05-12 20:19:19","post_date_gmt":"2024-05-12 10:19:19","post_content":"\n

Wells Fargo, a prominent American bank, revealed its investments in several Bitcoin exchange-traded funds (ETFs) in a recent regulatory filing. This move aligns Wells Fargo with other institutions embracing crypto-based investment vehicles. <\/p>\n\n\n\n

According to the filing <\/a>with the U.S. Securities and Exchange Commission (SEC), the bank has purchased shares of Grayscale's GBTC spot Bitcoin ETF and has exposure to Bitcoin Depot Inc., a Bitcoin ATM provider. Additionally, the filing shows that Wells Fargo has invested in the ProShares Bitcoin Strategy ETF (BITO), which offers investors exposure to BTC futures\u2014contracts speculating on the future price of the asset.<\/p>\n\n\n\n

Despite these investments, Wells Fargo's exposure to Bitcoin ETFs remains relatively small. The filing indicates that its investment in GBTC amounts to $141,817, while its investment in ProShares is under $1,200. The exposure to Bitcoin Depot stands at just $99.<\/p>\n\n\n\n

This disclosure comes after a report in February suggested that Wells Fargo, along with Bank of America's Merrill division, was providing its wealth management clients with exposure to Bitcoin ETFs via brokerage accounts. Wells Fargo has shown repeated interest in digital assets and even piloted its digital currency back in 2019.<\/p>\n\n\n\n

See Related:<\/em><\/strong> Bitcoin ETFs Hit Mainstream: BofA\u2019s Merrill, Wells Fargo Now Offer Spot Trading<\/a><\/p>\n\n\n\n

Bitcoin spot ETF era<\/h2>\n\n\n\n

The SEC's approval of 11 spot BTC ETFs in January has led to significant success for these products. This success mirrors the soaring price of Bitcoin, which reached an all-time high of $73,747 in March. The Bitcoin spot ETF issuers now hold 847,427 BTC which is at $50 billion at the time of writing. <\/p>\n\n\n\n

Hong Kong recently approved and started trading Bitcoin and Ethereum spot ETF. <\/p>\n","post_title":"Wells Fargo Dips Toes Into Crypto With Bitcoin ETF Investments","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"wells-fargo-dips-toes-into-crypto-with-bitcoin-etf-investments","to_ping":"","pinged":"","post_modified":"2024-05-12 20:19:23","post_modified_gmt":"2024-05-12 10:19:23","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16856","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":16761,"post_author":"15","post_date":"2024-05-06 23:24:50","post_date_gmt":"2024-05-06 13:24:50","post_content":"\n

The Grayscale Bitcoin Trust ETF ($GBTC) recently experienced a shift in its financial trend. It registers an inflow of $63 million and breaks an 11-week rally of net losses according to the Farside Investors<\/a>.<\/p>\n\n\n\n

\"Bitcoin
Since the inception of Bitcoin spot ETF in the U.S., GBTC has recorded outflows every single trading day.<\/figcaption><\/figure>\n\n\n\n

Bloomberg ETF analyst Eric Balchunas expressed his surprise<\/a> on Twitter, stating, \"Holy crap $GBTC had inflows today,\" and noted that their nearly 80-day streak of outflows had ended. He humorously remarked on the significance of this change, asking his followers to rate how significant this turnaround was for GBTC.<\/p>\n\n\n\n

Despite these challenges, GBTC remains the largest Bitcoin spot ETF, managing over $18.7 billion in assets and holding approximately 297,000 Bitcoin. However, consistent withdrawals have allowed new entrants like the BlackRock iShares Bitcoin Trust (IBIT), which now has $17.2 billion in assets, to narrow the gap.<\/p>\n\n\n\n

This news comes shortly after a downturn for IBIT, which saw a reduction of $37 million just a day earlier, as per Farside Investors. This event was part of a broader trend that saw the ETF market experience its worst day ever, with a total outflow of $563 million amid a decline in Bitcoin prices.<\/p>\n\n\n\n

See Related:<\/em><\/strong> GBTC Price Prediction after Judges Raised Hope for Investors In Favour Of Grayscale<\/a><\/p>\n\n\n\n

Bitcoin ETF in Asia<\/h2>\n\n\n\n

Hong Kong has recently made strides in the cryptocurrency market with the introduction of spot exchange-traded funds (ETFs) for Bitcoin and Ethereum. This development reflects Hong Kong's growing embrace of digital currencies and its ambition to become a major hub for cryptocurrency trading and finance. <\/p>\n\n\n\n

The trading started last April 30 and shows $12 million in trading volume on its first day. Bitcoin spot ETF recorded a $8.5 million and Ethereum spot ETF $2.5 million in trading volume. <\/p>\n","post_title":"Grayscale Bitcoin Trust Rebounds With $63 Million Influx After 80-Day Drought","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"grayscale-bitcoin-trust-rebounds-with-63-million-influx-after-80-day-drought","to_ping":"","pinged":"","post_modified":"2024-05-06 23:24:54","post_modified_gmt":"2024-05-06 13:24:54","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16761","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":16722,"post_author":"15","post_date":"2024-05-04 02:07:14","post_date_gmt":"2024-05-03 16:07:14","post_content":"\n

Elliptic, a blockchain analysis firm, released a study <\/a>conducted with the MIT-IBM Watson AI Lab on Wednesday. This study utilized a deep learning AI model to identify money laundering patterns within Bitcoin transactions and pinpoint wallets involved in criminal activities.<\/p>\n\n\n\n

Bitcoin's use of a decentralized public ledger, a fundamental aspect of the technology, facilitated the research, according to Elliptic. The collaboration between Elliptic and MIT-IBM leveraged AI to distinguish between legal and illegal transactions, tracking connections within the latter to expose potential money laundering activities.<\/p>\n\n\n\n

Elliptic stated, \u201cBlockchains provide fertile ground for machine learning techniques, thanks to the availability of both transaction data and information on the types of entities that are transacting, collected by us and others. This is in contrast to traditional finance where transaction data is typically siloed, making it challenging to apply these techniques.\u201d<\/em><\/p>\n\n\n\n

Elliptic clarified that instead of directly identifying transactions by illicit actors, the machine learning model is trained to recognize 'subgraphs'\u2014sequences of transactions that depict the laundering of Bitcoin. This method focuses more broadly on the multi-step laundering process rather than specific illegal actions on the blockchain.<\/p>\n\n\n\n

See Related:<\/em><\/strong> Binance's $3.9 Billion USDT Transfer Sparks Speculation Amidst CEO's Guilty Plea<\/a><\/p>\n\n\n\n

Money Laundering in 2024 Reports<\/h2>\n\n\n\n

In 2023, the volume of cryptocurrency involved in money laundering activities decreased significantly, with centralized exchanges continuing as the primary channels for such transactions. DeFi protocols and gambling services saw an uptick in use for laundering, yet they generally lack the anonymity preferred by launderers.<\/p>\n\n\n\n

Sophisticated criminals, particularly North Korea's Lazarus Group, adapted to law enforcement tactics by employing new mixers and utilizing cross-chain bridges to launder funds. These methods allow them to obfuscate the origins of illicit funds more effectively across multiple blockchain platforms, demonstrating a dynamic shift in the techniques used by high-level criminal enterprises to evade detection.<\/p>\n","post_title":"AI Powers New Tool To Detect Illegal Bitcoin Transactions, Study Shows","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"ai-powers-new-tool-to-detect-illegal-bitcoin-transactions-study-shows","to_ping":"","pinged":"","post_modified":"2024-05-04 02:07:20","post_modified_gmt":"2024-05-03 16:07:20","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16722","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":16491,"post_author":"15","post_date":"2024-04-21 10:09:53","post_date_gmt":"2024-04-21 00:09:53","post_content":"\n

Entrepreneur and Dallas Mavericks owner Mark Cuban recently discussed the implications of the upcoming Bitcoin halving. He emphasized its significant impact on miner revenues.<\/p>\n\n\n\n

During an interview <\/a>with The Block, Cuban pointed out that the halving will reduce mining rewards from 6.25 BTC to 3.125 BTC, effectively slashing the income for bitcoin miners by nearly half. However, Cuban expressed greater curiosity about the role artificial intelligence (AI) might play in the mining sector, especially concerning the demand for GPUs.<\/p>\n\n\n\n

Cuban highlighted the intense competition between AI's needs for GPUs and cryptocurrency mining's demands. He questioned whether the economic landscape of mining could be altered by the booming AI industry, asking if it might be more profitable to utilize GPUs for AI model training rather than mining. This issue primarily affects miners using GPUs for cryptocurrencies other than Bitcoin, which typically relies on ASIC machines.<\/p>\n\n\n\n

The intersection of AI and cryptocurrency mining is already seeing practical applications, with companies like Xive and Hive Digital Technologies expanding into AI to bolster their primary mining operations. <\/p>\n\n\n\n

See Related:<\/em><\/strong> Cryptocurrency Statistics And Insights (2022)<\/a><\/p>\n\n\n\n

Bitcoin Halving is Coming<\/h2>\n\n\n\n

Bitcoin halving is a significant event in the cryptocurrency world that occurs approximately every four years, or after 210,000 blocks are mined. During a halving, bitcoin miners' reward for verifying transactions and adding them to the blockchain is reduced by half. This mechanism was designed by Satoshi Nakamoto, the anonymous creator of Bitcoin, to control inflation by limiting the total number of bitcoins that can ever be in circulation to 21 million.<\/p>\n\n\n\n

As of writing, the price of Bitcoin is at $63,760, and 2 blocks remaining until the next Bitcoin halving.<\/p>\n","post_title":"Bitcoin Halving To Slash Miner Earnings, Cuban Eyes AI Shift","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"bitcoin-halving-to-slash-miner-earnings-cuban-eyes-ai-shift","to_ping":"","pinged":"","post_modified":"2024-04-21 10:10:00","post_modified_gmt":"2024-04-21 00:10:00","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16491","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":16460,"post_author":"15","post_date":"2024-04-19 23:38:06","post_date_gmt":"2024-04-19 13:38:06","post_content":"\n

Binance, the leading global cryptocurrency exchange, is set to make a comeback in India after agreeing to pay a $2 million penalty. This development follows a period of stringent regulatory scrutiny where the Indian government blocked nine cryptocurrency websites. They also prompted the removal of related apps from Apple and Google stores due to non-compliance with local laws. <\/p>\n\n\n\n

According to the Economic Times<\/a>, sources close to the matter indicate that Binance is restructuring its operations in South Asia. The cryptocurrency exchange is planning to fully comply with the Financial Intelligence Unit of India, which regulates the local trading of digital assets.<\/p>\n\n\n\n

The move comes as part of Binance's efforts to align with India's financial regulations, including adherence to anti-money laundering and taxation statutes. Before the crackdown, Binance held a commanding presence in the Indian market, with an estimated 90% of crypto holdings among Indian investors, totaling about $4 billion.<\/p>\n\n\n\n

See Related:<\/em><\/strong> Indian Parliament Passes A 30% Crypto Tax Law<\/a><\/p>\n\n\n\n

Nigeria Detains Binance Executives<\/h2>\n\n\n\n

Two months ago, Nigeria detained two executives of the Binance after they flew into the country. The country's Office of the National Security Adviser detained the two, and their passports were seized. <\/p>\n\n\n\n

Nigerian officials have leveled several charges against the cryptocurrency exchange Binance. The allegation includes exploiting the local economy, contributing to the devaluation of the Nigerian naira, and engaging in money laundering activities. They allege that Binance has been involved in manipulating the exchange rates by engaging in speculative actions and fixing rates. Furthermore, the Nigerian government has expressed concerns over $26 billion in transactions carried out on Binance's platform, which they report as being untraceable.<\/p>\n\n\n\n

Binance has denied any wrongdoing, but this is not the first time it has bumped heads with regulators.<\/p>\n","post_title":"Binance Set To Re-enter Indian Market with $2 Million Fine Settlement","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"binance-set-to-re-enter-indian-market-with-2-million-fine-settlement","to_ping":"","pinged":"","post_modified":"2024-04-20 04:11:08","post_modified_gmt":"2024-04-19 18:11:08","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16460","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":16362,"post_author":"15","post_date":"2024-04-15 03:52:59","post_date_gmt":"2024-04-14 17:52:59","post_content":"\n

Hong Kong is on the brink of approving spot exchange-traded funds (ETFs) for bitcoin and ether, potentially by Monday, Bloomberg reports<\/a>. This anticipated approval is poised to influence the cryptocurrency markets in the near term. The ETFs, if launched, will enable investors to trade bitcoin and ether on regulated platforms, enhancing the legitimacy and stability of investing in cryptocurrencies.<\/p>\n\n\n\n

Bloomberg\u2019s sources suggest that if the Hong Kong Exchanges & Clearing can finalize the listing details promptly, trading could commence by the end of April. Harvest Global Investments and Bosera Asset Management, in collaboration with HashKey Capital, are frontrunners in receiving the first approvals for these spot cryptocurrency ETFs. This move could cement Hong Kong's position as a major hub for digital assets in Asia, particularly if it leads to a successful market response similar to the U.S., where the approval of bitcoin ETFs in January triggered a price rally, pushing bitcoin\u2019s value to $73,000.<\/p>\n\n\n\n

However, unlike in the U.S., where ether ETFs have not yet been approved, Hong Kong might take the lead in this area as well. The city's market regulator, the Securities and Futures Commission (SFC), has not commented on the developments. Similarly, inquiries to Harvest Global Investments, Bosera Asset Management, HashKey Capital, and HKEX received no immediate response.<\/p>\n\n\n\n

See Related: <\/em><\/strong>Hong Kong Invests Over $6.4M Into Web 3 Development<\/a><\/p>\n\n\n\n

Ether ETF Update<\/h2>\n\n\n\n

The U.S. Securities and Exchange Commission (SEC) has once again delayed its decision on the application for an Ether ETF. A new deadline is set for May 23<\/a>.<\/p>\n\n\n\n

Despite this, analysts remain cautiously optimistic, estimating a 60% chance<\/a> of eventual approval. These delays and the ongoing review process indicate that the SEC is maintaining a cautious approach towards the approval of Ether ETFs. It reflects the complexities involved in integrating such products into the financial system.<\/p>\n","post_title":"Hong Kong Set to Approve Bitcoin And Ether ETFs By Monday","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"hong-kong-set-to-approve-bitcoin-and-ether-etfs-by-monday","to_ping":"","pinged":"","post_modified":"2024-04-15 03:53:05","post_modified_gmt":"2024-04-14 17:53:05","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16362","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":16347,"post_author":"15","post_date":"2024-04-14 00:03:48","post_date_gmt":"2024-04-13 14:03:48","post_content":"\n

Bitfinex Securities El Salvador is initiating a tokenized debt offering to fund the development of a Hampton by Hilton hotel complex spanning 4,484 square meters at El Salvador International Airport.<\/p>\n\n\n\n

In January, Bitfinex Securities<\/a> became the inaugural regulated entity to obtain a license to operate in El Salvador under the country\u2019s newly enacted Digital Asset Securities Law. This move anticipated a surge in demand for regulated investment vehicles, following the successful introduction of U.S. spot bitcoin exchange-traded funds.<\/p>\n\n\n\n

At the time, the tokenized securities platform announced its acceptance of customer applications and outlined a pipeline of potential financial asset issuances projected to launch in the year's first half.<\/p>\n\n\n\n

The tokenized debt, issued by El Salvadoran firm Inversiones Laguardia S.A. de C.V., is poised to be the inaugural token to trade on the platform. Utilizing the Liquid Network, a Bitcoin sidechain, the token will be denoted as HILSV and traded against U.S. dollars and Tether\u2019s USDT stablecoin.<\/p>\n\n\n\n

See Related: <\/em><\/strong>El Salvador Businesses Barely Impacted By Bitcoins Legality<\/a><\/p>\n\n\n\n

El Salvador Leads The Way<\/h2>\n\n\n\n


El Salvador stands at the forefront of cryptocurrency adoption wherein Bitcoin is recognized as legal tender. Since June 2021, it has been the first country to embrace Bitcoin alongside the US dollar for everyday transactions, making significant strides in the global crypto landscape. <\/p>\n\n\n\n

Under President Nayib Bukele, the government has initiated a groundbreaking project, where the state purchases one Bitcoin daily to bolster its reserves. <\/p>\n","post_title":"Bitfinex Securities Launches Tokenized Debt Offering For A Hotel In El Salvador","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"bitfinex-securities-launches-tokenized-debt-offering-for-a-hotel-in-el-salvador","to_ping":"","pinged":"","post_modified":"2024-04-14 00:03:52","post_modified_gmt":"2024-04-13 14:03:52","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16347","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

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\n

He assured, \"If you can't, I'll make sure you can.\"<\/em> Additionally, he suggested that President Joe Biden lacks an understanding of cryptocurrency and urged crypto supporters to vote for him.<\/p>\n\n\n\n

Trump's remarks were made during a gathering he organized to meet with buyers of his \"Mugshot Edition\" NFTs. Attendees, who individually purchased over 47 NFTs priced at $99 each, were invited to a dinner on their day off from trial. Trump boasted about revitalizing interest in NFTs, stating, \"We made NFTs hot again.\"<\/p>\n\n\n\n

Regarding the crypto industry's presence in the U.S., Trump pledged to work towards retaining it, emphasizing the importance of embracing crypto businesses. His statements led to an 18.5% surge in the \"Jeo Boden\" memecoin, inspired by President Biden, according to CoinMarketCap data<\/a>. Trump expressed skepticism about the token's market capitalization, deeming it excessive.<\/p>\n\n\n\n

See Related: <\/em><\/strong>Trump Drops Series 2 Of Digital Trading Card NFTs On Polygon<\/a><\/p>\n\n\n\n

U.S. Presidency Candidates And Their Stance On Crypto<\/h2>\n\n\n\n

As the 2024 U.S. presidential election nears, candidates face scrutiny over their stance on cryptocurrency regulation. Republican nominee and former President Donald Trump has shown enthusiasm. <\/p>\n\n\n\n

On the other hand, the Democratic nominee emphasizes balanced regulation to safeguard consumers and curb illegal activities, reflecting broader party sentiments. However, within each party, there's a range of views, from advocating for stringent oversight to promoting innovation. With crypto's increasing impact across sectors, including finance and technology, the candidates' positions are poised to shape the industry's future and its interaction with the government.<\/p>\n","post_title":"Trump Pledges To Accept Cryptocurrency For Campaign Donations","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"trump-pledges-to-accept-cryptocurrency-for-campaign-donations","to_ping":"","pinged":"","post_modified":"2024-05-13 00:31:26","post_modified_gmt":"2024-05-12 14:31:26","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16843","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":16856,"post_author":"15","post_date":"2024-05-12 20:19:19","post_date_gmt":"2024-05-12 10:19:19","post_content":"\n

Wells Fargo, a prominent American bank, revealed its investments in several Bitcoin exchange-traded funds (ETFs) in a recent regulatory filing. This move aligns Wells Fargo with other institutions embracing crypto-based investment vehicles. <\/p>\n\n\n\n

According to the filing <\/a>with the U.S. Securities and Exchange Commission (SEC), the bank has purchased shares of Grayscale's GBTC spot Bitcoin ETF and has exposure to Bitcoin Depot Inc., a Bitcoin ATM provider. Additionally, the filing shows that Wells Fargo has invested in the ProShares Bitcoin Strategy ETF (BITO), which offers investors exposure to BTC futures\u2014contracts speculating on the future price of the asset.<\/p>\n\n\n\n

Despite these investments, Wells Fargo's exposure to Bitcoin ETFs remains relatively small. The filing indicates that its investment in GBTC amounts to $141,817, while its investment in ProShares is under $1,200. The exposure to Bitcoin Depot stands at just $99.<\/p>\n\n\n\n

This disclosure comes after a report in February suggested that Wells Fargo, along with Bank of America's Merrill division, was providing its wealth management clients with exposure to Bitcoin ETFs via brokerage accounts. Wells Fargo has shown repeated interest in digital assets and even piloted its digital currency back in 2019.<\/p>\n\n\n\n

See Related:<\/em><\/strong> Bitcoin ETFs Hit Mainstream: BofA\u2019s Merrill, Wells Fargo Now Offer Spot Trading<\/a><\/p>\n\n\n\n

Bitcoin spot ETF era<\/h2>\n\n\n\n

The SEC's approval of 11 spot BTC ETFs in January has led to significant success for these products. This success mirrors the soaring price of Bitcoin, which reached an all-time high of $73,747 in March. The Bitcoin spot ETF issuers now hold 847,427 BTC which is at $50 billion at the time of writing. <\/p>\n\n\n\n

Hong Kong recently approved and started trading Bitcoin and Ethereum spot ETF. <\/p>\n","post_title":"Wells Fargo Dips Toes Into Crypto With Bitcoin ETF Investments","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"wells-fargo-dips-toes-into-crypto-with-bitcoin-etf-investments","to_ping":"","pinged":"","post_modified":"2024-05-12 20:19:23","post_modified_gmt":"2024-05-12 10:19:23","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16856","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":16761,"post_author":"15","post_date":"2024-05-06 23:24:50","post_date_gmt":"2024-05-06 13:24:50","post_content":"\n

The Grayscale Bitcoin Trust ETF ($GBTC) recently experienced a shift in its financial trend. It registers an inflow of $63 million and breaks an 11-week rally of net losses according to the Farside Investors<\/a>.<\/p>\n\n\n\n

\"Bitcoin
Since the inception of Bitcoin spot ETF in the U.S., GBTC has recorded outflows every single trading day.<\/figcaption><\/figure>\n\n\n\n

Bloomberg ETF analyst Eric Balchunas expressed his surprise<\/a> on Twitter, stating, \"Holy crap $GBTC had inflows today,\" and noted that their nearly 80-day streak of outflows had ended. He humorously remarked on the significance of this change, asking his followers to rate how significant this turnaround was for GBTC.<\/p>\n\n\n\n

Despite these challenges, GBTC remains the largest Bitcoin spot ETF, managing over $18.7 billion in assets and holding approximately 297,000 Bitcoin. However, consistent withdrawals have allowed new entrants like the BlackRock iShares Bitcoin Trust (IBIT), which now has $17.2 billion in assets, to narrow the gap.<\/p>\n\n\n\n

This news comes shortly after a downturn for IBIT, which saw a reduction of $37 million just a day earlier, as per Farside Investors. This event was part of a broader trend that saw the ETF market experience its worst day ever, with a total outflow of $563 million amid a decline in Bitcoin prices.<\/p>\n\n\n\n

See Related:<\/em><\/strong> GBTC Price Prediction after Judges Raised Hope for Investors In Favour Of Grayscale<\/a><\/p>\n\n\n\n

Bitcoin ETF in Asia<\/h2>\n\n\n\n

Hong Kong has recently made strides in the cryptocurrency market with the introduction of spot exchange-traded funds (ETFs) for Bitcoin and Ethereum. This development reflects Hong Kong's growing embrace of digital currencies and its ambition to become a major hub for cryptocurrency trading and finance. <\/p>\n\n\n\n

The trading started last April 30 and shows $12 million in trading volume on its first day. Bitcoin spot ETF recorded a $8.5 million and Ethereum spot ETF $2.5 million in trading volume. <\/p>\n","post_title":"Grayscale Bitcoin Trust Rebounds With $63 Million Influx After 80-Day Drought","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"grayscale-bitcoin-trust-rebounds-with-63-million-influx-after-80-day-drought","to_ping":"","pinged":"","post_modified":"2024-05-06 23:24:54","post_modified_gmt":"2024-05-06 13:24:54","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16761","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":16722,"post_author":"15","post_date":"2024-05-04 02:07:14","post_date_gmt":"2024-05-03 16:07:14","post_content":"\n

Elliptic, a blockchain analysis firm, released a study <\/a>conducted with the MIT-IBM Watson AI Lab on Wednesday. This study utilized a deep learning AI model to identify money laundering patterns within Bitcoin transactions and pinpoint wallets involved in criminal activities.<\/p>\n\n\n\n

Bitcoin's use of a decentralized public ledger, a fundamental aspect of the technology, facilitated the research, according to Elliptic. The collaboration between Elliptic and MIT-IBM leveraged AI to distinguish between legal and illegal transactions, tracking connections within the latter to expose potential money laundering activities.<\/p>\n\n\n\n

Elliptic stated, \u201cBlockchains provide fertile ground for machine learning techniques, thanks to the availability of both transaction data and information on the types of entities that are transacting, collected by us and others. This is in contrast to traditional finance where transaction data is typically siloed, making it challenging to apply these techniques.\u201d<\/em><\/p>\n\n\n\n

Elliptic clarified that instead of directly identifying transactions by illicit actors, the machine learning model is trained to recognize 'subgraphs'\u2014sequences of transactions that depict the laundering of Bitcoin. This method focuses more broadly on the multi-step laundering process rather than specific illegal actions on the blockchain.<\/p>\n\n\n\n

See Related:<\/em><\/strong> Binance's $3.9 Billion USDT Transfer Sparks Speculation Amidst CEO's Guilty Plea<\/a><\/p>\n\n\n\n

Money Laundering in 2024 Reports<\/h2>\n\n\n\n

In 2023, the volume of cryptocurrency involved in money laundering activities decreased significantly, with centralized exchanges continuing as the primary channels for such transactions. DeFi protocols and gambling services saw an uptick in use for laundering, yet they generally lack the anonymity preferred by launderers.<\/p>\n\n\n\n

Sophisticated criminals, particularly North Korea's Lazarus Group, adapted to law enforcement tactics by employing new mixers and utilizing cross-chain bridges to launder funds. These methods allow them to obfuscate the origins of illicit funds more effectively across multiple blockchain platforms, demonstrating a dynamic shift in the techniques used by high-level criminal enterprises to evade detection.<\/p>\n","post_title":"AI Powers New Tool To Detect Illegal Bitcoin Transactions, Study Shows","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"ai-powers-new-tool-to-detect-illegal-bitcoin-transactions-study-shows","to_ping":"","pinged":"","post_modified":"2024-05-04 02:07:20","post_modified_gmt":"2024-05-03 16:07:20","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16722","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":16491,"post_author":"15","post_date":"2024-04-21 10:09:53","post_date_gmt":"2024-04-21 00:09:53","post_content":"\n

Entrepreneur and Dallas Mavericks owner Mark Cuban recently discussed the implications of the upcoming Bitcoin halving. He emphasized its significant impact on miner revenues.<\/p>\n\n\n\n

During an interview <\/a>with The Block, Cuban pointed out that the halving will reduce mining rewards from 6.25 BTC to 3.125 BTC, effectively slashing the income for bitcoin miners by nearly half. However, Cuban expressed greater curiosity about the role artificial intelligence (AI) might play in the mining sector, especially concerning the demand for GPUs.<\/p>\n\n\n\n

Cuban highlighted the intense competition between AI's needs for GPUs and cryptocurrency mining's demands. He questioned whether the economic landscape of mining could be altered by the booming AI industry, asking if it might be more profitable to utilize GPUs for AI model training rather than mining. This issue primarily affects miners using GPUs for cryptocurrencies other than Bitcoin, which typically relies on ASIC machines.<\/p>\n\n\n\n

The intersection of AI and cryptocurrency mining is already seeing practical applications, with companies like Xive and Hive Digital Technologies expanding into AI to bolster their primary mining operations. <\/p>\n\n\n\n

See Related:<\/em><\/strong> Cryptocurrency Statistics And Insights (2022)<\/a><\/p>\n\n\n\n

Bitcoin Halving is Coming<\/h2>\n\n\n\n

Bitcoin halving is a significant event in the cryptocurrency world that occurs approximately every four years, or after 210,000 blocks are mined. During a halving, bitcoin miners' reward for verifying transactions and adding them to the blockchain is reduced by half. This mechanism was designed by Satoshi Nakamoto, the anonymous creator of Bitcoin, to control inflation by limiting the total number of bitcoins that can ever be in circulation to 21 million.<\/p>\n\n\n\n

As of writing, the price of Bitcoin is at $63,760, and 2 blocks remaining until the next Bitcoin halving.<\/p>\n","post_title":"Bitcoin Halving To Slash Miner Earnings, Cuban Eyes AI Shift","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"bitcoin-halving-to-slash-miner-earnings-cuban-eyes-ai-shift","to_ping":"","pinged":"","post_modified":"2024-04-21 10:10:00","post_modified_gmt":"2024-04-21 00:10:00","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16491","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":16460,"post_author":"15","post_date":"2024-04-19 23:38:06","post_date_gmt":"2024-04-19 13:38:06","post_content":"\n

Binance, the leading global cryptocurrency exchange, is set to make a comeback in India after agreeing to pay a $2 million penalty. This development follows a period of stringent regulatory scrutiny where the Indian government blocked nine cryptocurrency websites. They also prompted the removal of related apps from Apple and Google stores due to non-compliance with local laws. <\/p>\n\n\n\n

According to the Economic Times<\/a>, sources close to the matter indicate that Binance is restructuring its operations in South Asia. The cryptocurrency exchange is planning to fully comply with the Financial Intelligence Unit of India, which regulates the local trading of digital assets.<\/p>\n\n\n\n

The move comes as part of Binance's efforts to align with India's financial regulations, including adherence to anti-money laundering and taxation statutes. Before the crackdown, Binance held a commanding presence in the Indian market, with an estimated 90% of crypto holdings among Indian investors, totaling about $4 billion.<\/p>\n\n\n\n

See Related:<\/em><\/strong> Indian Parliament Passes A 30% Crypto Tax Law<\/a><\/p>\n\n\n\n

Nigeria Detains Binance Executives<\/h2>\n\n\n\n

Two months ago, Nigeria detained two executives of the Binance after they flew into the country. The country's Office of the National Security Adviser detained the two, and their passports were seized. <\/p>\n\n\n\n

Nigerian officials have leveled several charges against the cryptocurrency exchange Binance. The allegation includes exploiting the local economy, contributing to the devaluation of the Nigerian naira, and engaging in money laundering activities. They allege that Binance has been involved in manipulating the exchange rates by engaging in speculative actions and fixing rates. Furthermore, the Nigerian government has expressed concerns over $26 billion in transactions carried out on Binance's platform, which they report as being untraceable.<\/p>\n\n\n\n

Binance has denied any wrongdoing, but this is not the first time it has bumped heads with regulators.<\/p>\n","post_title":"Binance Set To Re-enter Indian Market with $2 Million Fine Settlement","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"binance-set-to-re-enter-indian-market-with-2-million-fine-settlement","to_ping":"","pinged":"","post_modified":"2024-04-20 04:11:08","post_modified_gmt":"2024-04-19 18:11:08","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16460","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":16362,"post_author":"15","post_date":"2024-04-15 03:52:59","post_date_gmt":"2024-04-14 17:52:59","post_content":"\n

Hong Kong is on the brink of approving spot exchange-traded funds (ETFs) for bitcoin and ether, potentially by Monday, Bloomberg reports<\/a>. This anticipated approval is poised to influence the cryptocurrency markets in the near term. The ETFs, if launched, will enable investors to trade bitcoin and ether on regulated platforms, enhancing the legitimacy and stability of investing in cryptocurrencies.<\/p>\n\n\n\n

Bloomberg\u2019s sources suggest that if the Hong Kong Exchanges & Clearing can finalize the listing details promptly, trading could commence by the end of April. Harvest Global Investments and Bosera Asset Management, in collaboration with HashKey Capital, are frontrunners in receiving the first approvals for these spot cryptocurrency ETFs. This move could cement Hong Kong's position as a major hub for digital assets in Asia, particularly if it leads to a successful market response similar to the U.S., where the approval of bitcoin ETFs in January triggered a price rally, pushing bitcoin\u2019s value to $73,000.<\/p>\n\n\n\n

However, unlike in the U.S., where ether ETFs have not yet been approved, Hong Kong might take the lead in this area as well. The city's market regulator, the Securities and Futures Commission (SFC), has not commented on the developments. Similarly, inquiries to Harvest Global Investments, Bosera Asset Management, HashKey Capital, and HKEX received no immediate response.<\/p>\n\n\n\n

See Related: <\/em><\/strong>Hong Kong Invests Over $6.4M Into Web 3 Development<\/a><\/p>\n\n\n\n

Ether ETF Update<\/h2>\n\n\n\n

The U.S. Securities and Exchange Commission (SEC) has once again delayed its decision on the application for an Ether ETF. A new deadline is set for May 23<\/a>.<\/p>\n\n\n\n

Despite this, analysts remain cautiously optimistic, estimating a 60% chance<\/a> of eventual approval. These delays and the ongoing review process indicate that the SEC is maintaining a cautious approach towards the approval of Ether ETFs. It reflects the complexities involved in integrating such products into the financial system.<\/p>\n","post_title":"Hong Kong Set to Approve Bitcoin And Ether ETFs By Monday","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"hong-kong-set-to-approve-bitcoin-and-ether-etfs-by-monday","to_ping":"","pinged":"","post_modified":"2024-04-15 03:53:05","post_modified_gmt":"2024-04-14 17:53:05","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16362","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":16347,"post_author":"15","post_date":"2024-04-14 00:03:48","post_date_gmt":"2024-04-13 14:03:48","post_content":"\n

Bitfinex Securities El Salvador is initiating a tokenized debt offering to fund the development of a Hampton by Hilton hotel complex spanning 4,484 square meters at El Salvador International Airport.<\/p>\n\n\n\n

In January, Bitfinex Securities<\/a> became the inaugural regulated entity to obtain a license to operate in El Salvador under the country\u2019s newly enacted Digital Asset Securities Law. This move anticipated a surge in demand for regulated investment vehicles, following the successful introduction of U.S. spot bitcoin exchange-traded funds.<\/p>\n\n\n\n

At the time, the tokenized securities platform announced its acceptance of customer applications and outlined a pipeline of potential financial asset issuances projected to launch in the year's first half.<\/p>\n\n\n\n

The tokenized debt, issued by El Salvadoran firm Inversiones Laguardia S.A. de C.V., is poised to be the inaugural token to trade on the platform. Utilizing the Liquid Network, a Bitcoin sidechain, the token will be denoted as HILSV and traded against U.S. dollars and Tether\u2019s USDT stablecoin.<\/p>\n\n\n\n

See Related: <\/em><\/strong>El Salvador Businesses Barely Impacted By Bitcoins Legality<\/a><\/p>\n\n\n\n

El Salvador Leads The Way<\/h2>\n\n\n\n


El Salvador stands at the forefront of cryptocurrency adoption wherein Bitcoin is recognized as legal tender. Since June 2021, it has been the first country to embrace Bitcoin alongside the US dollar for everyday transactions, making significant strides in the global crypto landscape. <\/p>\n\n\n\n

Under President Nayib Bukele, the government has initiated a groundbreaking project, where the state purchases one Bitcoin daily to bolster its reserves. <\/p>\n","post_title":"Bitfinex Securities Launches Tokenized Debt Offering For A Hotel In El Salvador","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"bitfinex-securities-launches-tokenized-debt-offering-for-a-hotel-in-el-salvador","to_ping":"","pinged":"","post_modified":"2024-04-14 00:03:52","post_modified_gmt":"2024-04-13 14:03:52","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16347","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 … 4 5 6 7 8 … 20

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

Former U.S. President Donald Trump expressed his intention to enable the use of cryptocurrency for campaign donations. In videos <\/a>shared by NFT creator and influencer Frank Degods, Trump indicated to a group of NFT buyers his willingness to accept crypto donations for his campaign.<\/p>\n\n\n\n

He assured, \"If you can't, I'll make sure you can.\"<\/em> Additionally, he suggested that President Joe Biden lacks an understanding of cryptocurrency and urged crypto supporters to vote for him.<\/p>\n\n\n\n

Trump's remarks were made during a gathering he organized to meet with buyers of his \"Mugshot Edition\" NFTs. Attendees, who individually purchased over 47 NFTs priced at $99 each, were invited to a dinner on their day off from trial. Trump boasted about revitalizing interest in NFTs, stating, \"We made NFTs hot again.\"<\/p>\n\n\n\n

Regarding the crypto industry's presence in the U.S., Trump pledged to work towards retaining it, emphasizing the importance of embracing crypto businesses. His statements led to an 18.5% surge in the \"Jeo Boden\" memecoin, inspired by President Biden, according to CoinMarketCap data<\/a>. Trump expressed skepticism about the token's market capitalization, deeming it excessive.<\/p>\n\n\n\n

See Related: <\/em><\/strong>Trump Drops Series 2 Of Digital Trading Card NFTs On Polygon<\/a><\/p>\n\n\n\n

U.S. Presidency Candidates And Their Stance On Crypto<\/h2>\n\n\n\n

As the 2024 U.S. presidential election nears, candidates face scrutiny over their stance on cryptocurrency regulation. Republican nominee and former President Donald Trump has shown enthusiasm. <\/p>\n\n\n\n

On the other hand, the Democratic nominee emphasizes balanced regulation to safeguard consumers and curb illegal activities, reflecting broader party sentiments. However, within each party, there's a range of views, from advocating for stringent oversight to promoting innovation. With crypto's increasing impact across sectors, including finance and technology, the candidates' positions are poised to shape the industry's future and its interaction with the government.<\/p>\n","post_title":"Trump Pledges To Accept Cryptocurrency For Campaign Donations","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"trump-pledges-to-accept-cryptocurrency-for-campaign-donations","to_ping":"","pinged":"","post_modified":"2024-05-13 00:31:26","post_modified_gmt":"2024-05-12 14:31:26","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16843","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":16856,"post_author":"15","post_date":"2024-05-12 20:19:19","post_date_gmt":"2024-05-12 10:19:19","post_content":"\n

Wells Fargo, a prominent American bank, revealed its investments in several Bitcoin exchange-traded funds (ETFs) in a recent regulatory filing. This move aligns Wells Fargo with other institutions embracing crypto-based investment vehicles. <\/p>\n\n\n\n

According to the filing <\/a>with the U.S. Securities and Exchange Commission (SEC), the bank has purchased shares of Grayscale's GBTC spot Bitcoin ETF and has exposure to Bitcoin Depot Inc., a Bitcoin ATM provider. Additionally, the filing shows that Wells Fargo has invested in the ProShares Bitcoin Strategy ETF (BITO), which offers investors exposure to BTC futures\u2014contracts speculating on the future price of the asset.<\/p>\n\n\n\n

Despite these investments, Wells Fargo's exposure to Bitcoin ETFs remains relatively small. The filing indicates that its investment in GBTC amounts to $141,817, while its investment in ProShares is under $1,200. The exposure to Bitcoin Depot stands at just $99.<\/p>\n\n\n\n

This disclosure comes after a report in February suggested that Wells Fargo, along with Bank of America's Merrill division, was providing its wealth management clients with exposure to Bitcoin ETFs via brokerage accounts. Wells Fargo has shown repeated interest in digital assets and even piloted its digital currency back in 2019.<\/p>\n\n\n\n

See Related:<\/em><\/strong> Bitcoin ETFs Hit Mainstream: BofA\u2019s Merrill, Wells Fargo Now Offer Spot Trading<\/a><\/p>\n\n\n\n

Bitcoin spot ETF era<\/h2>\n\n\n\n

The SEC's approval of 11 spot BTC ETFs in January has led to significant success for these products. This success mirrors the soaring price of Bitcoin, which reached an all-time high of $73,747 in March. The Bitcoin spot ETF issuers now hold 847,427 BTC which is at $50 billion at the time of writing. <\/p>\n\n\n\n

Hong Kong recently approved and started trading Bitcoin and Ethereum spot ETF. <\/p>\n","post_title":"Wells Fargo Dips Toes Into Crypto With Bitcoin ETF Investments","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"wells-fargo-dips-toes-into-crypto-with-bitcoin-etf-investments","to_ping":"","pinged":"","post_modified":"2024-05-12 20:19:23","post_modified_gmt":"2024-05-12 10:19:23","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16856","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":16761,"post_author":"15","post_date":"2024-05-06 23:24:50","post_date_gmt":"2024-05-06 13:24:50","post_content":"\n

The Grayscale Bitcoin Trust ETF ($GBTC) recently experienced a shift in its financial trend. It registers an inflow of $63 million and breaks an 11-week rally of net losses according to the Farside Investors<\/a>.<\/p>\n\n\n\n

\"Bitcoin
Since the inception of Bitcoin spot ETF in the U.S., GBTC has recorded outflows every single trading day.<\/figcaption><\/figure>\n\n\n\n

Bloomberg ETF analyst Eric Balchunas expressed his surprise<\/a> on Twitter, stating, \"Holy crap $GBTC had inflows today,\" and noted that their nearly 80-day streak of outflows had ended. He humorously remarked on the significance of this change, asking his followers to rate how significant this turnaround was for GBTC.<\/p>\n\n\n\n

Despite these challenges, GBTC remains the largest Bitcoin spot ETF, managing over $18.7 billion in assets and holding approximately 297,000 Bitcoin. However, consistent withdrawals have allowed new entrants like the BlackRock iShares Bitcoin Trust (IBIT), which now has $17.2 billion in assets, to narrow the gap.<\/p>\n\n\n\n

This news comes shortly after a downturn for IBIT, which saw a reduction of $37 million just a day earlier, as per Farside Investors. This event was part of a broader trend that saw the ETF market experience its worst day ever, with a total outflow of $563 million amid a decline in Bitcoin prices.<\/p>\n\n\n\n

See Related:<\/em><\/strong> GBTC Price Prediction after Judges Raised Hope for Investors In Favour Of Grayscale<\/a><\/p>\n\n\n\n

Bitcoin ETF in Asia<\/h2>\n\n\n\n

Hong Kong has recently made strides in the cryptocurrency market with the introduction of spot exchange-traded funds (ETFs) for Bitcoin and Ethereum. This development reflects Hong Kong's growing embrace of digital currencies and its ambition to become a major hub for cryptocurrency trading and finance. <\/p>\n\n\n\n

The trading started last April 30 and shows $12 million in trading volume on its first day. Bitcoin spot ETF recorded a $8.5 million and Ethereum spot ETF $2.5 million in trading volume. <\/p>\n","post_title":"Grayscale Bitcoin Trust Rebounds With $63 Million Influx After 80-Day Drought","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"grayscale-bitcoin-trust-rebounds-with-63-million-influx-after-80-day-drought","to_ping":"","pinged":"","post_modified":"2024-05-06 23:24:54","post_modified_gmt":"2024-05-06 13:24:54","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16761","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":16722,"post_author":"15","post_date":"2024-05-04 02:07:14","post_date_gmt":"2024-05-03 16:07:14","post_content":"\n

Elliptic, a blockchain analysis firm, released a study <\/a>conducted with the MIT-IBM Watson AI Lab on Wednesday. This study utilized a deep learning AI model to identify money laundering patterns within Bitcoin transactions and pinpoint wallets involved in criminal activities.<\/p>\n\n\n\n

Bitcoin's use of a decentralized public ledger, a fundamental aspect of the technology, facilitated the research, according to Elliptic. The collaboration between Elliptic and MIT-IBM leveraged AI to distinguish between legal and illegal transactions, tracking connections within the latter to expose potential money laundering activities.<\/p>\n\n\n\n

Elliptic stated, \u201cBlockchains provide fertile ground for machine learning techniques, thanks to the availability of both transaction data and information on the types of entities that are transacting, collected by us and others. This is in contrast to traditional finance where transaction data is typically siloed, making it challenging to apply these techniques.\u201d<\/em><\/p>\n\n\n\n

Elliptic clarified that instead of directly identifying transactions by illicit actors, the machine learning model is trained to recognize 'subgraphs'\u2014sequences of transactions that depict the laundering of Bitcoin. This method focuses more broadly on the multi-step laundering process rather than specific illegal actions on the blockchain.<\/p>\n\n\n\n

See Related:<\/em><\/strong> Binance's $3.9 Billion USDT Transfer Sparks Speculation Amidst CEO's Guilty Plea<\/a><\/p>\n\n\n\n

Money Laundering in 2024 Reports<\/h2>\n\n\n\n

In 2023, the volume of cryptocurrency involved in money laundering activities decreased significantly, with centralized exchanges continuing as the primary channels for such transactions. DeFi protocols and gambling services saw an uptick in use for laundering, yet they generally lack the anonymity preferred by launderers.<\/p>\n\n\n\n

Sophisticated criminals, particularly North Korea's Lazarus Group, adapted to law enforcement tactics by employing new mixers and utilizing cross-chain bridges to launder funds. These methods allow them to obfuscate the origins of illicit funds more effectively across multiple blockchain platforms, demonstrating a dynamic shift in the techniques used by high-level criminal enterprises to evade detection.<\/p>\n","post_title":"AI Powers New Tool To Detect Illegal Bitcoin Transactions, Study Shows","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"ai-powers-new-tool-to-detect-illegal-bitcoin-transactions-study-shows","to_ping":"","pinged":"","post_modified":"2024-05-04 02:07:20","post_modified_gmt":"2024-05-03 16:07:20","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16722","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":16491,"post_author":"15","post_date":"2024-04-21 10:09:53","post_date_gmt":"2024-04-21 00:09:53","post_content":"\n

Entrepreneur and Dallas Mavericks owner Mark Cuban recently discussed the implications of the upcoming Bitcoin halving. He emphasized its significant impact on miner revenues.<\/p>\n\n\n\n

During an interview <\/a>with The Block, Cuban pointed out that the halving will reduce mining rewards from 6.25 BTC to 3.125 BTC, effectively slashing the income for bitcoin miners by nearly half. However, Cuban expressed greater curiosity about the role artificial intelligence (AI) might play in the mining sector, especially concerning the demand for GPUs.<\/p>\n\n\n\n

Cuban highlighted the intense competition between AI's needs for GPUs and cryptocurrency mining's demands. He questioned whether the economic landscape of mining could be altered by the booming AI industry, asking if it might be more profitable to utilize GPUs for AI model training rather than mining. This issue primarily affects miners using GPUs for cryptocurrencies other than Bitcoin, which typically relies on ASIC machines.<\/p>\n\n\n\n

The intersection of AI and cryptocurrency mining is already seeing practical applications, with companies like Xive and Hive Digital Technologies expanding into AI to bolster their primary mining operations. <\/p>\n\n\n\n

See Related:<\/em><\/strong> Cryptocurrency Statistics And Insights (2022)<\/a><\/p>\n\n\n\n

Bitcoin Halving is Coming<\/h2>\n\n\n\n

Bitcoin halving is a significant event in the cryptocurrency world that occurs approximately every four years, or after 210,000 blocks are mined. During a halving, bitcoin miners' reward for verifying transactions and adding them to the blockchain is reduced by half. This mechanism was designed by Satoshi Nakamoto, the anonymous creator of Bitcoin, to control inflation by limiting the total number of bitcoins that can ever be in circulation to 21 million.<\/p>\n\n\n\n

As of writing, the price of Bitcoin is at $63,760, and 2 blocks remaining until the next Bitcoin halving.<\/p>\n","post_title":"Bitcoin Halving To Slash Miner Earnings, Cuban Eyes AI Shift","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"bitcoin-halving-to-slash-miner-earnings-cuban-eyes-ai-shift","to_ping":"","pinged":"","post_modified":"2024-04-21 10:10:00","post_modified_gmt":"2024-04-21 00:10:00","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16491","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":16460,"post_author":"15","post_date":"2024-04-19 23:38:06","post_date_gmt":"2024-04-19 13:38:06","post_content":"\n

Binance, the leading global cryptocurrency exchange, is set to make a comeback in India after agreeing to pay a $2 million penalty. This development follows a period of stringent regulatory scrutiny where the Indian government blocked nine cryptocurrency websites. They also prompted the removal of related apps from Apple and Google stores due to non-compliance with local laws. <\/p>\n\n\n\n

According to the Economic Times<\/a>, sources close to the matter indicate that Binance is restructuring its operations in South Asia. The cryptocurrency exchange is planning to fully comply with the Financial Intelligence Unit of India, which regulates the local trading of digital assets.<\/p>\n\n\n\n

The move comes as part of Binance's efforts to align with India's financial regulations, including adherence to anti-money laundering and taxation statutes. Before the crackdown, Binance held a commanding presence in the Indian market, with an estimated 90% of crypto holdings among Indian investors, totaling about $4 billion.<\/p>\n\n\n\n

See Related:<\/em><\/strong> Indian Parliament Passes A 30% Crypto Tax Law<\/a><\/p>\n\n\n\n

Nigeria Detains Binance Executives<\/h2>\n\n\n\n

Two months ago, Nigeria detained two executives of the Binance after they flew into the country. The country's Office of the National Security Adviser detained the two, and their passports were seized. <\/p>\n\n\n\n

Nigerian officials have leveled several charges against the cryptocurrency exchange Binance. The allegation includes exploiting the local economy, contributing to the devaluation of the Nigerian naira, and engaging in money laundering activities. They allege that Binance has been involved in manipulating the exchange rates by engaging in speculative actions and fixing rates. Furthermore, the Nigerian government has expressed concerns over $26 billion in transactions carried out on Binance's platform, which they report as being untraceable.<\/p>\n\n\n\n

Binance has denied any wrongdoing, but this is not the first time it has bumped heads with regulators.<\/p>\n","post_title":"Binance Set To Re-enter Indian Market with $2 Million Fine Settlement","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"binance-set-to-re-enter-indian-market-with-2-million-fine-settlement","to_ping":"","pinged":"","post_modified":"2024-04-20 04:11:08","post_modified_gmt":"2024-04-19 18:11:08","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16460","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":16362,"post_author":"15","post_date":"2024-04-15 03:52:59","post_date_gmt":"2024-04-14 17:52:59","post_content":"\n

Hong Kong is on the brink of approving spot exchange-traded funds (ETFs) for bitcoin and ether, potentially by Monday, Bloomberg reports<\/a>. This anticipated approval is poised to influence the cryptocurrency markets in the near term. The ETFs, if launched, will enable investors to trade bitcoin and ether on regulated platforms, enhancing the legitimacy and stability of investing in cryptocurrencies.<\/p>\n\n\n\n

Bloomberg\u2019s sources suggest that if the Hong Kong Exchanges & Clearing can finalize the listing details promptly, trading could commence by the end of April. Harvest Global Investments and Bosera Asset Management, in collaboration with HashKey Capital, are frontrunners in receiving the first approvals for these spot cryptocurrency ETFs. This move could cement Hong Kong's position as a major hub for digital assets in Asia, particularly if it leads to a successful market response similar to the U.S., where the approval of bitcoin ETFs in January triggered a price rally, pushing bitcoin\u2019s value to $73,000.<\/p>\n\n\n\n

However, unlike in the U.S., where ether ETFs have not yet been approved, Hong Kong might take the lead in this area as well. The city's market regulator, the Securities and Futures Commission (SFC), has not commented on the developments. Similarly, inquiries to Harvest Global Investments, Bosera Asset Management, HashKey Capital, and HKEX received no immediate response.<\/p>\n\n\n\n

See Related: <\/em><\/strong>Hong Kong Invests Over $6.4M Into Web 3 Development<\/a><\/p>\n\n\n\n

Ether ETF Update<\/h2>\n\n\n\n

The U.S. Securities and Exchange Commission (SEC) has once again delayed its decision on the application for an Ether ETF. A new deadline is set for May 23<\/a>.<\/p>\n\n\n\n

Despite this, analysts remain cautiously optimistic, estimating a 60% chance<\/a> of eventual approval. These delays and the ongoing review process indicate that the SEC is maintaining a cautious approach towards the approval of Ether ETFs. It reflects the complexities involved in integrating such products into the financial system.<\/p>\n","post_title":"Hong Kong Set to Approve Bitcoin And Ether ETFs By Monday","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"hong-kong-set-to-approve-bitcoin-and-ether-etfs-by-monday","to_ping":"","pinged":"","post_modified":"2024-04-15 03:53:05","post_modified_gmt":"2024-04-14 17:53:05","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16362","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":16347,"post_author":"15","post_date":"2024-04-14 00:03:48","post_date_gmt":"2024-04-13 14:03:48","post_content":"\n

Bitfinex Securities El Salvador is initiating a tokenized debt offering to fund the development of a Hampton by Hilton hotel complex spanning 4,484 square meters at El Salvador International Airport.<\/p>\n\n\n\n

In January, Bitfinex Securities<\/a> became the inaugural regulated entity to obtain a license to operate in El Salvador under the country\u2019s newly enacted Digital Asset Securities Law. This move anticipated a surge in demand for regulated investment vehicles, following the successful introduction of U.S. spot bitcoin exchange-traded funds.<\/p>\n\n\n\n

At the time, the tokenized securities platform announced its acceptance of customer applications and outlined a pipeline of potential financial asset issuances projected to launch in the year's first half.<\/p>\n\n\n\n

The tokenized debt, issued by El Salvadoran firm Inversiones Laguardia S.A. de C.V., is poised to be the inaugural token to trade on the platform. Utilizing the Liquid Network, a Bitcoin sidechain, the token will be denoted as HILSV and traded against U.S. dollars and Tether\u2019s USDT stablecoin.<\/p>\n\n\n\n

See Related: <\/em><\/strong>El Salvador Businesses Barely Impacted By Bitcoins Legality<\/a><\/p>\n\n\n\n

El Salvador Leads The Way<\/h2>\n\n\n\n


El Salvador stands at the forefront of cryptocurrency adoption wherein Bitcoin is recognized as legal tender. Since June 2021, it has been the first country to embrace Bitcoin alongside the US dollar for everyday transactions, making significant strides in the global crypto landscape. <\/p>\n\n\n\n

Under President Nayib Bukele, the government has initiated a groundbreaking project, where the state purchases one Bitcoin daily to bolster its reserves. <\/p>\n","post_title":"Bitfinex Securities Launches Tokenized Debt Offering For A Hotel In El Salvador","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"bitfinex-securities-launches-tokenized-debt-offering-for-a-hotel-in-el-salvador","to_ping":"","pinged":"","post_modified":"2024-04-14 00:03:52","post_modified_gmt":"2024-04-13 14:03:52","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16347","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 … 4 5 6 7 8 … 20

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

\"I still think it's unlikely that this means Vanguard will launch a Bitcoin ETF (at least in the near term),\" <\/em>tweeted Bloomberg Intelligence's James Seyffart on Tuesday. \"But I think Salim could change Vanguard\u2019s stance on allowing their clients to buy spot Bitcoin ETFs on their brokerage platform.\"<\/em><\/p>\n","post_title":"Vanguard Hires Bitcoin Advocate Salim Ramji As New CEO","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"vanguard-hires-bitcoin-advocate-salim-ramji-as-new-ceo","to_ping":"","pinged":"","post_modified":"2024-05-18 23:22:16","post_modified_gmt":"2024-05-18 13:22:16","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16932","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":16843,"post_author":"15","post_date":"2024-05-13 00:31:20","post_date_gmt":"2024-05-12 14:31:20","post_content":"\n

Former U.S. President Donald Trump expressed his intention to enable the use of cryptocurrency for campaign donations. In videos <\/a>shared by NFT creator and influencer Frank Degods, Trump indicated to a group of NFT buyers his willingness to accept crypto donations for his campaign.<\/p>\n\n\n\n

He assured, \"If you can't, I'll make sure you can.\"<\/em> Additionally, he suggested that President Joe Biden lacks an understanding of cryptocurrency and urged crypto supporters to vote for him.<\/p>\n\n\n\n

Trump's remarks were made during a gathering he organized to meet with buyers of his \"Mugshot Edition\" NFTs. Attendees, who individually purchased over 47 NFTs priced at $99 each, were invited to a dinner on their day off from trial. Trump boasted about revitalizing interest in NFTs, stating, \"We made NFTs hot again.\"<\/p>\n\n\n\n

Regarding the crypto industry's presence in the U.S., Trump pledged to work towards retaining it, emphasizing the importance of embracing crypto businesses. His statements led to an 18.5% surge in the \"Jeo Boden\" memecoin, inspired by President Biden, according to CoinMarketCap data<\/a>. Trump expressed skepticism about the token's market capitalization, deeming it excessive.<\/p>\n\n\n\n

See Related: <\/em><\/strong>Trump Drops Series 2 Of Digital Trading Card NFTs On Polygon<\/a><\/p>\n\n\n\n

U.S. Presidency Candidates And Their Stance On Crypto<\/h2>\n\n\n\n

As the 2024 U.S. presidential election nears, candidates face scrutiny over their stance on cryptocurrency regulation. Republican nominee and former President Donald Trump has shown enthusiasm. <\/p>\n\n\n\n

On the other hand, the Democratic nominee emphasizes balanced regulation to safeguard consumers and curb illegal activities, reflecting broader party sentiments. However, within each party, there's a range of views, from advocating for stringent oversight to promoting innovation. With crypto's increasing impact across sectors, including finance and technology, the candidates' positions are poised to shape the industry's future and its interaction with the government.<\/p>\n","post_title":"Trump Pledges To Accept Cryptocurrency For Campaign Donations","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"trump-pledges-to-accept-cryptocurrency-for-campaign-donations","to_ping":"","pinged":"","post_modified":"2024-05-13 00:31:26","post_modified_gmt":"2024-05-12 14:31:26","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16843","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":16856,"post_author":"15","post_date":"2024-05-12 20:19:19","post_date_gmt":"2024-05-12 10:19:19","post_content":"\n

Wells Fargo, a prominent American bank, revealed its investments in several Bitcoin exchange-traded funds (ETFs) in a recent regulatory filing. This move aligns Wells Fargo with other institutions embracing crypto-based investment vehicles. <\/p>\n\n\n\n

According to the filing <\/a>with the U.S. Securities and Exchange Commission (SEC), the bank has purchased shares of Grayscale's GBTC spot Bitcoin ETF and has exposure to Bitcoin Depot Inc., a Bitcoin ATM provider. Additionally, the filing shows that Wells Fargo has invested in the ProShares Bitcoin Strategy ETF (BITO), which offers investors exposure to BTC futures\u2014contracts speculating on the future price of the asset.<\/p>\n\n\n\n

Despite these investments, Wells Fargo's exposure to Bitcoin ETFs remains relatively small. The filing indicates that its investment in GBTC amounts to $141,817, while its investment in ProShares is under $1,200. The exposure to Bitcoin Depot stands at just $99.<\/p>\n\n\n\n

This disclosure comes after a report in February suggested that Wells Fargo, along with Bank of America's Merrill division, was providing its wealth management clients with exposure to Bitcoin ETFs via brokerage accounts. Wells Fargo has shown repeated interest in digital assets and even piloted its digital currency back in 2019.<\/p>\n\n\n\n

See Related:<\/em><\/strong> Bitcoin ETFs Hit Mainstream: BofA\u2019s Merrill, Wells Fargo Now Offer Spot Trading<\/a><\/p>\n\n\n\n

Bitcoin spot ETF era<\/h2>\n\n\n\n

The SEC's approval of 11 spot BTC ETFs in January has led to significant success for these products. This success mirrors the soaring price of Bitcoin, which reached an all-time high of $73,747 in March. The Bitcoin spot ETF issuers now hold 847,427 BTC which is at $50 billion at the time of writing. <\/p>\n\n\n\n

Hong Kong recently approved and started trading Bitcoin and Ethereum spot ETF. <\/p>\n","post_title":"Wells Fargo Dips Toes Into Crypto With Bitcoin ETF Investments","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"wells-fargo-dips-toes-into-crypto-with-bitcoin-etf-investments","to_ping":"","pinged":"","post_modified":"2024-05-12 20:19:23","post_modified_gmt":"2024-05-12 10:19:23","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16856","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":16761,"post_author":"15","post_date":"2024-05-06 23:24:50","post_date_gmt":"2024-05-06 13:24:50","post_content":"\n

The Grayscale Bitcoin Trust ETF ($GBTC) recently experienced a shift in its financial trend. It registers an inflow of $63 million and breaks an 11-week rally of net losses according to the Farside Investors<\/a>.<\/p>\n\n\n\n

\"Bitcoin
Since the inception of Bitcoin spot ETF in the U.S., GBTC has recorded outflows every single trading day.<\/figcaption><\/figure>\n\n\n\n

Bloomberg ETF analyst Eric Balchunas expressed his surprise<\/a> on Twitter, stating, \"Holy crap $GBTC had inflows today,\" and noted that their nearly 80-day streak of outflows had ended. He humorously remarked on the significance of this change, asking his followers to rate how significant this turnaround was for GBTC.<\/p>\n\n\n\n

Despite these challenges, GBTC remains the largest Bitcoin spot ETF, managing over $18.7 billion in assets and holding approximately 297,000 Bitcoin. However, consistent withdrawals have allowed new entrants like the BlackRock iShares Bitcoin Trust (IBIT), which now has $17.2 billion in assets, to narrow the gap.<\/p>\n\n\n\n

This news comes shortly after a downturn for IBIT, which saw a reduction of $37 million just a day earlier, as per Farside Investors. This event was part of a broader trend that saw the ETF market experience its worst day ever, with a total outflow of $563 million amid a decline in Bitcoin prices.<\/p>\n\n\n\n

See Related:<\/em><\/strong> GBTC Price Prediction after Judges Raised Hope for Investors In Favour Of Grayscale<\/a><\/p>\n\n\n\n

Bitcoin ETF in Asia<\/h2>\n\n\n\n

Hong Kong has recently made strides in the cryptocurrency market with the introduction of spot exchange-traded funds (ETFs) for Bitcoin and Ethereum. This development reflects Hong Kong's growing embrace of digital currencies and its ambition to become a major hub for cryptocurrency trading and finance. <\/p>\n\n\n\n

The trading started last April 30 and shows $12 million in trading volume on its first day. Bitcoin spot ETF recorded a $8.5 million and Ethereum spot ETF $2.5 million in trading volume. <\/p>\n","post_title":"Grayscale Bitcoin Trust Rebounds With $63 Million Influx After 80-Day Drought","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"grayscale-bitcoin-trust-rebounds-with-63-million-influx-after-80-day-drought","to_ping":"","pinged":"","post_modified":"2024-05-06 23:24:54","post_modified_gmt":"2024-05-06 13:24:54","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16761","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":16722,"post_author":"15","post_date":"2024-05-04 02:07:14","post_date_gmt":"2024-05-03 16:07:14","post_content":"\n

Elliptic, a blockchain analysis firm, released a study <\/a>conducted with the MIT-IBM Watson AI Lab on Wednesday. This study utilized a deep learning AI model to identify money laundering patterns within Bitcoin transactions and pinpoint wallets involved in criminal activities.<\/p>\n\n\n\n

Bitcoin's use of a decentralized public ledger, a fundamental aspect of the technology, facilitated the research, according to Elliptic. The collaboration between Elliptic and MIT-IBM leveraged AI to distinguish between legal and illegal transactions, tracking connections within the latter to expose potential money laundering activities.<\/p>\n\n\n\n

Elliptic stated, \u201cBlockchains provide fertile ground for machine learning techniques, thanks to the availability of both transaction data and information on the types of entities that are transacting, collected by us and others. This is in contrast to traditional finance where transaction data is typically siloed, making it challenging to apply these techniques.\u201d<\/em><\/p>\n\n\n\n

Elliptic clarified that instead of directly identifying transactions by illicit actors, the machine learning model is trained to recognize 'subgraphs'\u2014sequences of transactions that depict the laundering of Bitcoin. This method focuses more broadly on the multi-step laundering process rather than specific illegal actions on the blockchain.<\/p>\n\n\n\n

See Related:<\/em><\/strong> Binance's $3.9 Billion USDT Transfer Sparks Speculation Amidst CEO's Guilty Plea<\/a><\/p>\n\n\n\n

Money Laundering in 2024 Reports<\/h2>\n\n\n\n

In 2023, the volume of cryptocurrency involved in money laundering activities decreased significantly, with centralized exchanges continuing as the primary channels for such transactions. DeFi protocols and gambling services saw an uptick in use for laundering, yet they generally lack the anonymity preferred by launderers.<\/p>\n\n\n\n

Sophisticated criminals, particularly North Korea's Lazarus Group, adapted to law enforcement tactics by employing new mixers and utilizing cross-chain bridges to launder funds. These methods allow them to obfuscate the origins of illicit funds more effectively across multiple blockchain platforms, demonstrating a dynamic shift in the techniques used by high-level criminal enterprises to evade detection.<\/p>\n","post_title":"AI Powers New Tool To Detect Illegal Bitcoin Transactions, Study Shows","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"ai-powers-new-tool-to-detect-illegal-bitcoin-transactions-study-shows","to_ping":"","pinged":"","post_modified":"2024-05-04 02:07:20","post_modified_gmt":"2024-05-03 16:07:20","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16722","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":16491,"post_author":"15","post_date":"2024-04-21 10:09:53","post_date_gmt":"2024-04-21 00:09:53","post_content":"\n

Entrepreneur and Dallas Mavericks owner Mark Cuban recently discussed the implications of the upcoming Bitcoin halving. He emphasized its significant impact on miner revenues.<\/p>\n\n\n\n

During an interview <\/a>with The Block, Cuban pointed out that the halving will reduce mining rewards from 6.25 BTC to 3.125 BTC, effectively slashing the income for bitcoin miners by nearly half. However, Cuban expressed greater curiosity about the role artificial intelligence (AI) might play in the mining sector, especially concerning the demand for GPUs.<\/p>\n\n\n\n

Cuban highlighted the intense competition between AI's needs for GPUs and cryptocurrency mining's demands. He questioned whether the economic landscape of mining could be altered by the booming AI industry, asking if it might be more profitable to utilize GPUs for AI model training rather than mining. This issue primarily affects miners using GPUs for cryptocurrencies other than Bitcoin, which typically relies on ASIC machines.<\/p>\n\n\n\n

The intersection of AI and cryptocurrency mining is already seeing practical applications, with companies like Xive and Hive Digital Technologies expanding into AI to bolster their primary mining operations. <\/p>\n\n\n\n

See Related:<\/em><\/strong> Cryptocurrency Statistics And Insights (2022)<\/a><\/p>\n\n\n\n

Bitcoin Halving is Coming<\/h2>\n\n\n\n

Bitcoin halving is a significant event in the cryptocurrency world that occurs approximately every four years, or after 210,000 blocks are mined. During a halving, bitcoin miners' reward for verifying transactions and adding them to the blockchain is reduced by half. This mechanism was designed by Satoshi Nakamoto, the anonymous creator of Bitcoin, to control inflation by limiting the total number of bitcoins that can ever be in circulation to 21 million.<\/p>\n\n\n\n

As of writing, the price of Bitcoin is at $63,760, and 2 blocks remaining until the next Bitcoin halving.<\/p>\n","post_title":"Bitcoin Halving To Slash Miner Earnings, Cuban Eyes AI Shift","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"bitcoin-halving-to-slash-miner-earnings-cuban-eyes-ai-shift","to_ping":"","pinged":"","post_modified":"2024-04-21 10:10:00","post_modified_gmt":"2024-04-21 00:10:00","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16491","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":16460,"post_author":"15","post_date":"2024-04-19 23:38:06","post_date_gmt":"2024-04-19 13:38:06","post_content":"\n

Binance, the leading global cryptocurrency exchange, is set to make a comeback in India after agreeing to pay a $2 million penalty. This development follows a period of stringent regulatory scrutiny where the Indian government blocked nine cryptocurrency websites. They also prompted the removal of related apps from Apple and Google stores due to non-compliance with local laws. <\/p>\n\n\n\n

According to the Economic Times<\/a>, sources close to the matter indicate that Binance is restructuring its operations in South Asia. The cryptocurrency exchange is planning to fully comply with the Financial Intelligence Unit of India, which regulates the local trading of digital assets.<\/p>\n\n\n\n

The move comes as part of Binance's efforts to align with India's financial regulations, including adherence to anti-money laundering and taxation statutes. Before the crackdown, Binance held a commanding presence in the Indian market, with an estimated 90% of crypto holdings among Indian investors, totaling about $4 billion.<\/p>\n\n\n\n

See Related:<\/em><\/strong> Indian Parliament Passes A 30% Crypto Tax Law<\/a><\/p>\n\n\n\n

Nigeria Detains Binance Executives<\/h2>\n\n\n\n

Two months ago, Nigeria detained two executives of the Binance after they flew into the country. The country's Office of the National Security Adviser detained the two, and their passports were seized. <\/p>\n\n\n\n

Nigerian officials have leveled several charges against the cryptocurrency exchange Binance. The allegation includes exploiting the local economy, contributing to the devaluation of the Nigerian naira, and engaging in money laundering activities. They allege that Binance has been involved in manipulating the exchange rates by engaging in speculative actions and fixing rates. Furthermore, the Nigerian government has expressed concerns over $26 billion in transactions carried out on Binance's platform, which they report as being untraceable.<\/p>\n\n\n\n

Binance has denied any wrongdoing, but this is not the first time it has bumped heads with regulators.<\/p>\n","post_title":"Binance Set To Re-enter Indian Market with $2 Million Fine Settlement","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"binance-set-to-re-enter-indian-market-with-2-million-fine-settlement","to_ping":"","pinged":"","post_modified":"2024-04-20 04:11:08","post_modified_gmt":"2024-04-19 18:11:08","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16460","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":16362,"post_author":"15","post_date":"2024-04-15 03:52:59","post_date_gmt":"2024-04-14 17:52:59","post_content":"\n

Hong Kong is on the brink of approving spot exchange-traded funds (ETFs) for bitcoin and ether, potentially by Monday, Bloomberg reports<\/a>. This anticipated approval is poised to influence the cryptocurrency markets in the near term. The ETFs, if launched, will enable investors to trade bitcoin and ether on regulated platforms, enhancing the legitimacy and stability of investing in cryptocurrencies.<\/p>\n\n\n\n

Bloomberg\u2019s sources suggest that if the Hong Kong Exchanges & Clearing can finalize the listing details promptly, trading could commence by the end of April. Harvest Global Investments and Bosera Asset Management, in collaboration with HashKey Capital, are frontrunners in receiving the first approvals for these spot cryptocurrency ETFs. This move could cement Hong Kong's position as a major hub for digital assets in Asia, particularly if it leads to a successful market response similar to the U.S., where the approval of bitcoin ETFs in January triggered a price rally, pushing bitcoin\u2019s value to $73,000.<\/p>\n\n\n\n

However, unlike in the U.S., where ether ETFs have not yet been approved, Hong Kong might take the lead in this area as well. The city's market regulator, the Securities and Futures Commission (SFC), has not commented on the developments. Similarly, inquiries to Harvest Global Investments, Bosera Asset Management, HashKey Capital, and HKEX received no immediate response.<\/p>\n\n\n\n

See Related: <\/em><\/strong>Hong Kong Invests Over $6.4M Into Web 3 Development<\/a><\/p>\n\n\n\n

Ether ETF Update<\/h2>\n\n\n\n

The U.S. Securities and Exchange Commission (SEC) has once again delayed its decision on the application for an Ether ETF. A new deadline is set for May 23<\/a>.<\/p>\n\n\n\n

Despite this, analysts remain cautiously optimistic, estimating a 60% chance<\/a> of eventual approval. These delays and the ongoing review process indicate that the SEC is maintaining a cautious approach towards the approval of Ether ETFs. It reflects the complexities involved in integrating such products into the financial system.<\/p>\n","post_title":"Hong Kong Set to Approve Bitcoin And Ether ETFs By Monday","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"hong-kong-set-to-approve-bitcoin-and-ether-etfs-by-monday","to_ping":"","pinged":"","post_modified":"2024-04-15 03:53:05","post_modified_gmt":"2024-04-14 17:53:05","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16362","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":16347,"post_author":"15","post_date":"2024-04-14 00:03:48","post_date_gmt":"2024-04-13 14:03:48","post_content":"\n

Bitfinex Securities El Salvador is initiating a tokenized debt offering to fund the development of a Hampton by Hilton hotel complex spanning 4,484 square meters at El Salvador International Airport.<\/p>\n\n\n\n

In January, Bitfinex Securities<\/a> became the inaugural regulated entity to obtain a license to operate in El Salvador under the country\u2019s newly enacted Digital Asset Securities Law. This move anticipated a surge in demand for regulated investment vehicles, following the successful introduction of U.S. spot bitcoin exchange-traded funds.<\/p>\n\n\n\n

At the time, the tokenized securities platform announced its acceptance of customer applications and outlined a pipeline of potential financial asset issuances projected to launch in the year's first half.<\/p>\n\n\n\n

The tokenized debt, issued by El Salvadoran firm Inversiones Laguardia S.A. de C.V., is poised to be the inaugural token to trade on the platform. Utilizing the Liquid Network, a Bitcoin sidechain, the token will be denoted as HILSV and traded against U.S. dollars and Tether\u2019s USDT stablecoin.<\/p>\n\n\n\n

See Related: <\/em><\/strong>El Salvador Businesses Barely Impacted By Bitcoins Legality<\/a><\/p>\n\n\n\n

El Salvador Leads The Way<\/h2>\n\n\n\n


El Salvador stands at the forefront of cryptocurrency adoption wherein Bitcoin is recognized as legal tender. Since June 2021, it has been the first country to embrace Bitcoin alongside the US dollar for everyday transactions, making significant strides in the global crypto landscape. <\/p>\n\n\n\n

Under President Nayib Bukele, the government has initiated a groundbreaking project, where the state purchases one Bitcoin daily to bolster its reserves. <\/p>\n","post_title":"Bitfinex Securities Launches Tokenized Debt Offering For A Hotel In El Salvador","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"bitfinex-securities-launches-tokenized-debt-offering-for-a-hotel-in-el-salvador","to_ping":"","pinged":"","post_modified":"2024-04-14 00:03:52","post_modified_gmt":"2024-04-13 14:03:52","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16347","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

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\n

After over three decades at Vanguard, Buckley announced in February that he would retire by the end of the year, shortly after the Bitcoin ETFs went live. Many investors believed the timing was significant, suggesting Vanguard regretted missing out on the most successful ETF launch in history.<\/p>\n\n\n\n

\"I still think it's unlikely that this means Vanguard will launch a Bitcoin ETF (at least in the near term),\" <\/em>tweeted Bloomberg Intelligence's James Seyffart on Tuesday. \"But I think Salim could change Vanguard\u2019s stance on allowing their clients to buy spot Bitcoin ETFs on their brokerage platform.\"<\/em><\/p>\n","post_title":"Vanguard Hires Bitcoin Advocate Salim Ramji As New CEO","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"vanguard-hires-bitcoin-advocate-salim-ramji-as-new-ceo","to_ping":"","pinged":"","post_modified":"2024-05-18 23:22:16","post_modified_gmt":"2024-05-18 13:22:16","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16932","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":16843,"post_author":"15","post_date":"2024-05-13 00:31:20","post_date_gmt":"2024-05-12 14:31:20","post_content":"\n

Former U.S. President Donald Trump expressed his intention to enable the use of cryptocurrency for campaign donations. In videos <\/a>shared by NFT creator and influencer Frank Degods, Trump indicated to a group of NFT buyers his willingness to accept crypto donations for his campaign.<\/p>\n\n\n\n

He assured, \"If you can't, I'll make sure you can.\"<\/em> Additionally, he suggested that President Joe Biden lacks an understanding of cryptocurrency and urged crypto supporters to vote for him.<\/p>\n\n\n\n

Trump's remarks were made during a gathering he organized to meet with buyers of his \"Mugshot Edition\" NFTs. Attendees, who individually purchased over 47 NFTs priced at $99 each, were invited to a dinner on their day off from trial. Trump boasted about revitalizing interest in NFTs, stating, \"We made NFTs hot again.\"<\/p>\n\n\n\n

Regarding the crypto industry's presence in the U.S., Trump pledged to work towards retaining it, emphasizing the importance of embracing crypto businesses. His statements led to an 18.5% surge in the \"Jeo Boden\" memecoin, inspired by President Biden, according to CoinMarketCap data<\/a>. Trump expressed skepticism about the token's market capitalization, deeming it excessive.<\/p>\n\n\n\n

See Related: <\/em><\/strong>Trump Drops Series 2 Of Digital Trading Card NFTs On Polygon<\/a><\/p>\n\n\n\n

U.S. Presidency Candidates And Their Stance On Crypto<\/h2>\n\n\n\n

As the 2024 U.S. presidential election nears, candidates face scrutiny over their stance on cryptocurrency regulation. Republican nominee and former President Donald Trump has shown enthusiasm. <\/p>\n\n\n\n

On the other hand, the Democratic nominee emphasizes balanced regulation to safeguard consumers and curb illegal activities, reflecting broader party sentiments. However, within each party, there's a range of views, from advocating for stringent oversight to promoting innovation. With crypto's increasing impact across sectors, including finance and technology, the candidates' positions are poised to shape the industry's future and its interaction with the government.<\/p>\n","post_title":"Trump Pledges To Accept Cryptocurrency For Campaign Donations","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"trump-pledges-to-accept-cryptocurrency-for-campaign-donations","to_ping":"","pinged":"","post_modified":"2024-05-13 00:31:26","post_modified_gmt":"2024-05-12 14:31:26","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16843","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":16856,"post_author":"15","post_date":"2024-05-12 20:19:19","post_date_gmt":"2024-05-12 10:19:19","post_content":"\n

Wells Fargo, a prominent American bank, revealed its investments in several Bitcoin exchange-traded funds (ETFs) in a recent regulatory filing. This move aligns Wells Fargo with other institutions embracing crypto-based investment vehicles. <\/p>\n\n\n\n

According to the filing <\/a>with the U.S. Securities and Exchange Commission (SEC), the bank has purchased shares of Grayscale's GBTC spot Bitcoin ETF and has exposure to Bitcoin Depot Inc., a Bitcoin ATM provider. Additionally, the filing shows that Wells Fargo has invested in the ProShares Bitcoin Strategy ETF (BITO), which offers investors exposure to BTC futures\u2014contracts speculating on the future price of the asset.<\/p>\n\n\n\n

Despite these investments, Wells Fargo's exposure to Bitcoin ETFs remains relatively small. The filing indicates that its investment in GBTC amounts to $141,817, while its investment in ProShares is under $1,200. The exposure to Bitcoin Depot stands at just $99.<\/p>\n\n\n\n

This disclosure comes after a report in February suggested that Wells Fargo, along with Bank of America's Merrill division, was providing its wealth management clients with exposure to Bitcoin ETFs via brokerage accounts. Wells Fargo has shown repeated interest in digital assets and even piloted its digital currency back in 2019.<\/p>\n\n\n\n

See Related:<\/em><\/strong> Bitcoin ETFs Hit Mainstream: BofA\u2019s Merrill, Wells Fargo Now Offer Spot Trading<\/a><\/p>\n\n\n\n

Bitcoin spot ETF era<\/h2>\n\n\n\n

The SEC's approval of 11 spot BTC ETFs in January has led to significant success for these products. This success mirrors the soaring price of Bitcoin, which reached an all-time high of $73,747 in March. The Bitcoin spot ETF issuers now hold 847,427 BTC which is at $50 billion at the time of writing. <\/p>\n\n\n\n

Hong Kong recently approved and started trading Bitcoin and Ethereum spot ETF. <\/p>\n","post_title":"Wells Fargo Dips Toes Into Crypto With Bitcoin ETF Investments","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"wells-fargo-dips-toes-into-crypto-with-bitcoin-etf-investments","to_ping":"","pinged":"","post_modified":"2024-05-12 20:19:23","post_modified_gmt":"2024-05-12 10:19:23","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16856","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":16761,"post_author":"15","post_date":"2024-05-06 23:24:50","post_date_gmt":"2024-05-06 13:24:50","post_content":"\n

The Grayscale Bitcoin Trust ETF ($GBTC) recently experienced a shift in its financial trend. It registers an inflow of $63 million and breaks an 11-week rally of net losses according to the Farside Investors<\/a>.<\/p>\n\n\n\n

\"Bitcoin
Since the inception of Bitcoin spot ETF in the U.S., GBTC has recorded outflows every single trading day.<\/figcaption><\/figure>\n\n\n\n

Bloomberg ETF analyst Eric Balchunas expressed his surprise<\/a> on Twitter, stating, \"Holy crap $GBTC had inflows today,\" and noted that their nearly 80-day streak of outflows had ended. He humorously remarked on the significance of this change, asking his followers to rate how significant this turnaround was for GBTC.<\/p>\n\n\n\n

Despite these challenges, GBTC remains the largest Bitcoin spot ETF, managing over $18.7 billion in assets and holding approximately 297,000 Bitcoin. However, consistent withdrawals have allowed new entrants like the BlackRock iShares Bitcoin Trust (IBIT), which now has $17.2 billion in assets, to narrow the gap.<\/p>\n\n\n\n

This news comes shortly after a downturn for IBIT, which saw a reduction of $37 million just a day earlier, as per Farside Investors. This event was part of a broader trend that saw the ETF market experience its worst day ever, with a total outflow of $563 million amid a decline in Bitcoin prices.<\/p>\n\n\n\n

See Related:<\/em><\/strong> GBTC Price Prediction after Judges Raised Hope for Investors In Favour Of Grayscale<\/a><\/p>\n\n\n\n

Bitcoin ETF in Asia<\/h2>\n\n\n\n

Hong Kong has recently made strides in the cryptocurrency market with the introduction of spot exchange-traded funds (ETFs) for Bitcoin and Ethereum. This development reflects Hong Kong's growing embrace of digital currencies and its ambition to become a major hub for cryptocurrency trading and finance. <\/p>\n\n\n\n

The trading started last April 30 and shows $12 million in trading volume on its first day. Bitcoin spot ETF recorded a $8.5 million and Ethereum spot ETF $2.5 million in trading volume. <\/p>\n","post_title":"Grayscale Bitcoin Trust Rebounds With $63 Million Influx After 80-Day Drought","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"grayscale-bitcoin-trust-rebounds-with-63-million-influx-after-80-day-drought","to_ping":"","pinged":"","post_modified":"2024-05-06 23:24:54","post_modified_gmt":"2024-05-06 13:24:54","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16761","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":16722,"post_author":"15","post_date":"2024-05-04 02:07:14","post_date_gmt":"2024-05-03 16:07:14","post_content":"\n

Elliptic, a blockchain analysis firm, released a study <\/a>conducted with the MIT-IBM Watson AI Lab on Wednesday. This study utilized a deep learning AI model to identify money laundering patterns within Bitcoin transactions and pinpoint wallets involved in criminal activities.<\/p>\n\n\n\n

Bitcoin's use of a decentralized public ledger, a fundamental aspect of the technology, facilitated the research, according to Elliptic. The collaboration between Elliptic and MIT-IBM leveraged AI to distinguish between legal and illegal transactions, tracking connections within the latter to expose potential money laundering activities.<\/p>\n\n\n\n

Elliptic stated, \u201cBlockchains provide fertile ground for machine learning techniques, thanks to the availability of both transaction data and information on the types of entities that are transacting, collected by us and others. This is in contrast to traditional finance where transaction data is typically siloed, making it challenging to apply these techniques.\u201d<\/em><\/p>\n\n\n\n

Elliptic clarified that instead of directly identifying transactions by illicit actors, the machine learning model is trained to recognize 'subgraphs'\u2014sequences of transactions that depict the laundering of Bitcoin. This method focuses more broadly on the multi-step laundering process rather than specific illegal actions on the blockchain.<\/p>\n\n\n\n

See Related:<\/em><\/strong> Binance's $3.9 Billion USDT Transfer Sparks Speculation Amidst CEO's Guilty Plea<\/a><\/p>\n\n\n\n

Money Laundering in 2024 Reports<\/h2>\n\n\n\n

In 2023, the volume of cryptocurrency involved in money laundering activities decreased significantly, with centralized exchanges continuing as the primary channels for such transactions. DeFi protocols and gambling services saw an uptick in use for laundering, yet they generally lack the anonymity preferred by launderers.<\/p>\n\n\n\n

Sophisticated criminals, particularly North Korea's Lazarus Group, adapted to law enforcement tactics by employing new mixers and utilizing cross-chain bridges to launder funds. These methods allow them to obfuscate the origins of illicit funds more effectively across multiple blockchain platforms, demonstrating a dynamic shift in the techniques used by high-level criminal enterprises to evade detection.<\/p>\n","post_title":"AI Powers New Tool To Detect Illegal Bitcoin Transactions, Study Shows","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"ai-powers-new-tool-to-detect-illegal-bitcoin-transactions-study-shows","to_ping":"","pinged":"","post_modified":"2024-05-04 02:07:20","post_modified_gmt":"2024-05-03 16:07:20","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16722","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":16491,"post_author":"15","post_date":"2024-04-21 10:09:53","post_date_gmt":"2024-04-21 00:09:53","post_content":"\n

Entrepreneur and Dallas Mavericks owner Mark Cuban recently discussed the implications of the upcoming Bitcoin halving. He emphasized its significant impact on miner revenues.<\/p>\n\n\n\n

During an interview <\/a>with The Block, Cuban pointed out that the halving will reduce mining rewards from 6.25 BTC to 3.125 BTC, effectively slashing the income for bitcoin miners by nearly half. However, Cuban expressed greater curiosity about the role artificial intelligence (AI) might play in the mining sector, especially concerning the demand for GPUs.<\/p>\n\n\n\n

Cuban highlighted the intense competition between AI's needs for GPUs and cryptocurrency mining's demands. He questioned whether the economic landscape of mining could be altered by the booming AI industry, asking if it might be more profitable to utilize GPUs for AI model training rather than mining. This issue primarily affects miners using GPUs for cryptocurrencies other than Bitcoin, which typically relies on ASIC machines.<\/p>\n\n\n\n

The intersection of AI and cryptocurrency mining is already seeing practical applications, with companies like Xive and Hive Digital Technologies expanding into AI to bolster their primary mining operations. <\/p>\n\n\n\n

See Related:<\/em><\/strong> Cryptocurrency Statistics And Insights (2022)<\/a><\/p>\n\n\n\n

Bitcoin Halving is Coming<\/h2>\n\n\n\n

Bitcoin halving is a significant event in the cryptocurrency world that occurs approximately every four years, or after 210,000 blocks are mined. During a halving, bitcoin miners' reward for verifying transactions and adding them to the blockchain is reduced by half. This mechanism was designed by Satoshi Nakamoto, the anonymous creator of Bitcoin, to control inflation by limiting the total number of bitcoins that can ever be in circulation to 21 million.<\/p>\n\n\n\n

As of writing, the price of Bitcoin is at $63,760, and 2 blocks remaining until the next Bitcoin halving.<\/p>\n","post_title":"Bitcoin Halving To Slash Miner Earnings, Cuban Eyes AI Shift","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"bitcoin-halving-to-slash-miner-earnings-cuban-eyes-ai-shift","to_ping":"","pinged":"","post_modified":"2024-04-21 10:10:00","post_modified_gmt":"2024-04-21 00:10:00","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16491","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":16460,"post_author":"15","post_date":"2024-04-19 23:38:06","post_date_gmt":"2024-04-19 13:38:06","post_content":"\n

Binance, the leading global cryptocurrency exchange, is set to make a comeback in India after agreeing to pay a $2 million penalty. This development follows a period of stringent regulatory scrutiny where the Indian government blocked nine cryptocurrency websites. They also prompted the removal of related apps from Apple and Google stores due to non-compliance with local laws. <\/p>\n\n\n\n

According to the Economic Times<\/a>, sources close to the matter indicate that Binance is restructuring its operations in South Asia. The cryptocurrency exchange is planning to fully comply with the Financial Intelligence Unit of India, which regulates the local trading of digital assets.<\/p>\n\n\n\n

The move comes as part of Binance's efforts to align with India's financial regulations, including adherence to anti-money laundering and taxation statutes. Before the crackdown, Binance held a commanding presence in the Indian market, with an estimated 90% of crypto holdings among Indian investors, totaling about $4 billion.<\/p>\n\n\n\n

See Related:<\/em><\/strong> Indian Parliament Passes A 30% Crypto Tax Law<\/a><\/p>\n\n\n\n

Nigeria Detains Binance Executives<\/h2>\n\n\n\n

Two months ago, Nigeria detained two executives of the Binance after they flew into the country. The country's Office of the National Security Adviser detained the two, and their passports were seized. <\/p>\n\n\n\n

Nigerian officials have leveled several charges against the cryptocurrency exchange Binance. The allegation includes exploiting the local economy, contributing to the devaluation of the Nigerian naira, and engaging in money laundering activities. They allege that Binance has been involved in manipulating the exchange rates by engaging in speculative actions and fixing rates. Furthermore, the Nigerian government has expressed concerns over $26 billion in transactions carried out on Binance's platform, which they report as being untraceable.<\/p>\n\n\n\n

Binance has denied any wrongdoing, but this is not the first time it has bumped heads with regulators.<\/p>\n","post_title":"Binance Set To Re-enter Indian Market with $2 Million Fine Settlement","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"binance-set-to-re-enter-indian-market-with-2-million-fine-settlement","to_ping":"","pinged":"","post_modified":"2024-04-20 04:11:08","post_modified_gmt":"2024-04-19 18:11:08","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16460","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":16362,"post_author":"15","post_date":"2024-04-15 03:52:59","post_date_gmt":"2024-04-14 17:52:59","post_content":"\n

Hong Kong is on the brink of approving spot exchange-traded funds (ETFs) for bitcoin and ether, potentially by Monday, Bloomberg reports<\/a>. This anticipated approval is poised to influence the cryptocurrency markets in the near term. The ETFs, if launched, will enable investors to trade bitcoin and ether on regulated platforms, enhancing the legitimacy and stability of investing in cryptocurrencies.<\/p>\n\n\n\n

Bloomberg\u2019s sources suggest that if the Hong Kong Exchanges & Clearing can finalize the listing details promptly, trading could commence by the end of April. Harvest Global Investments and Bosera Asset Management, in collaboration with HashKey Capital, are frontrunners in receiving the first approvals for these spot cryptocurrency ETFs. This move could cement Hong Kong's position as a major hub for digital assets in Asia, particularly if it leads to a successful market response similar to the U.S., where the approval of bitcoin ETFs in January triggered a price rally, pushing bitcoin\u2019s value to $73,000.<\/p>\n\n\n\n

However, unlike in the U.S., where ether ETFs have not yet been approved, Hong Kong might take the lead in this area as well. The city's market regulator, the Securities and Futures Commission (SFC), has not commented on the developments. Similarly, inquiries to Harvest Global Investments, Bosera Asset Management, HashKey Capital, and HKEX received no immediate response.<\/p>\n\n\n\n

See Related: <\/em><\/strong>Hong Kong Invests Over $6.4M Into Web 3 Development<\/a><\/p>\n\n\n\n

Ether ETF Update<\/h2>\n\n\n\n

The U.S. Securities and Exchange Commission (SEC) has once again delayed its decision on the application for an Ether ETF. A new deadline is set for May 23<\/a>.<\/p>\n\n\n\n

Despite this, analysts remain cautiously optimistic, estimating a 60% chance<\/a> of eventual approval. These delays and the ongoing review process indicate that the SEC is maintaining a cautious approach towards the approval of Ether ETFs. It reflects the complexities involved in integrating such products into the financial system.<\/p>\n","post_title":"Hong Kong Set to Approve Bitcoin And Ether ETFs By Monday","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"hong-kong-set-to-approve-bitcoin-and-ether-etfs-by-monday","to_ping":"","pinged":"","post_modified":"2024-04-15 03:53:05","post_modified_gmt":"2024-04-14 17:53:05","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16362","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":16347,"post_author":"15","post_date":"2024-04-14 00:03:48","post_date_gmt":"2024-04-13 14:03:48","post_content":"\n

Bitfinex Securities El Salvador is initiating a tokenized debt offering to fund the development of a Hampton by Hilton hotel complex spanning 4,484 square meters at El Salvador International Airport.<\/p>\n\n\n\n

In January, Bitfinex Securities<\/a> became the inaugural regulated entity to obtain a license to operate in El Salvador under the country\u2019s newly enacted Digital Asset Securities Law. This move anticipated a surge in demand for regulated investment vehicles, following the successful introduction of U.S. spot bitcoin exchange-traded funds.<\/p>\n\n\n\n

At the time, the tokenized securities platform announced its acceptance of customer applications and outlined a pipeline of potential financial asset issuances projected to launch in the year's first half.<\/p>\n\n\n\n

The tokenized debt, issued by El Salvadoran firm Inversiones Laguardia S.A. de C.V., is poised to be the inaugural token to trade on the platform. Utilizing the Liquid Network, a Bitcoin sidechain, the token will be denoted as HILSV and traded against U.S. dollars and Tether\u2019s USDT stablecoin.<\/p>\n\n\n\n

See Related: <\/em><\/strong>El Salvador Businesses Barely Impacted By Bitcoins Legality<\/a><\/p>\n\n\n\n

El Salvador Leads The Way<\/h2>\n\n\n\n


El Salvador stands at the forefront of cryptocurrency adoption wherein Bitcoin is recognized as legal tender. Since June 2021, it has been the first country to embrace Bitcoin alongside the US dollar for everyday transactions, making significant strides in the global crypto landscape. <\/p>\n\n\n\n

Under President Nayib Bukele, the government has initiated a groundbreaking project, where the state purchases one Bitcoin daily to bolster its reserves. <\/p>\n","post_title":"Bitfinex Securities Launches Tokenized Debt Offering For A Hotel In El Salvador","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"bitfinex-securities-launches-tokenized-debt-offering-for-a-hotel-in-el-salvador","to_ping":"","pinged":"","post_modified":"2024-04-14 00:03:52","post_modified_gmt":"2024-04-13 14:03:52","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16347","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

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\n

\"Bitcoin is too volatile and not a store of value. It hasn't been, and it's very volatile,\"<\/em> Buckley said in a March interview. \"It's tough to see how it fits into a long-term portfolio.\"<\/em><\/p>\n\n\n\n

After over three decades at Vanguard, Buckley announced in February that he would retire by the end of the year, shortly after the Bitcoin ETFs went live. Many investors believed the timing was significant, suggesting Vanguard regretted missing out on the most successful ETF launch in history.<\/p>\n\n\n\n

\"I still think it's unlikely that this means Vanguard will launch a Bitcoin ETF (at least in the near term),\" <\/em>tweeted Bloomberg Intelligence's James Seyffart on Tuesday. \"But I think Salim could change Vanguard\u2019s stance on allowing their clients to buy spot Bitcoin ETFs on their brokerage platform.\"<\/em><\/p>\n","post_title":"Vanguard Hires Bitcoin Advocate Salim Ramji As New CEO","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"vanguard-hires-bitcoin-advocate-salim-ramji-as-new-ceo","to_ping":"","pinged":"","post_modified":"2024-05-18 23:22:16","post_modified_gmt":"2024-05-18 13:22:16","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16932","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":16843,"post_author":"15","post_date":"2024-05-13 00:31:20","post_date_gmt":"2024-05-12 14:31:20","post_content":"\n

Former U.S. President Donald Trump expressed his intention to enable the use of cryptocurrency for campaign donations. In videos <\/a>shared by NFT creator and influencer Frank Degods, Trump indicated to a group of NFT buyers his willingness to accept crypto donations for his campaign.<\/p>\n\n\n\n

He assured, \"If you can't, I'll make sure you can.\"<\/em> Additionally, he suggested that President Joe Biden lacks an understanding of cryptocurrency and urged crypto supporters to vote for him.<\/p>\n\n\n\n

Trump's remarks were made during a gathering he organized to meet with buyers of his \"Mugshot Edition\" NFTs. Attendees, who individually purchased over 47 NFTs priced at $99 each, were invited to a dinner on their day off from trial. Trump boasted about revitalizing interest in NFTs, stating, \"We made NFTs hot again.\"<\/p>\n\n\n\n

Regarding the crypto industry's presence in the U.S., Trump pledged to work towards retaining it, emphasizing the importance of embracing crypto businesses. His statements led to an 18.5% surge in the \"Jeo Boden\" memecoin, inspired by President Biden, according to CoinMarketCap data<\/a>. Trump expressed skepticism about the token's market capitalization, deeming it excessive.<\/p>\n\n\n\n

See Related: <\/em><\/strong>Trump Drops Series 2 Of Digital Trading Card NFTs On Polygon<\/a><\/p>\n\n\n\n

U.S. Presidency Candidates And Their Stance On Crypto<\/h2>\n\n\n\n

As the 2024 U.S. presidential election nears, candidates face scrutiny over their stance on cryptocurrency regulation. Republican nominee and former President Donald Trump has shown enthusiasm. <\/p>\n\n\n\n

On the other hand, the Democratic nominee emphasizes balanced regulation to safeguard consumers and curb illegal activities, reflecting broader party sentiments. However, within each party, there's a range of views, from advocating for stringent oversight to promoting innovation. With crypto's increasing impact across sectors, including finance and technology, the candidates' positions are poised to shape the industry's future and its interaction with the government.<\/p>\n","post_title":"Trump Pledges To Accept Cryptocurrency For Campaign Donations","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"trump-pledges-to-accept-cryptocurrency-for-campaign-donations","to_ping":"","pinged":"","post_modified":"2024-05-13 00:31:26","post_modified_gmt":"2024-05-12 14:31:26","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16843","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":16856,"post_author":"15","post_date":"2024-05-12 20:19:19","post_date_gmt":"2024-05-12 10:19:19","post_content":"\n

Wells Fargo, a prominent American bank, revealed its investments in several Bitcoin exchange-traded funds (ETFs) in a recent regulatory filing. This move aligns Wells Fargo with other institutions embracing crypto-based investment vehicles. <\/p>\n\n\n\n

According to the filing <\/a>with the U.S. Securities and Exchange Commission (SEC), the bank has purchased shares of Grayscale's GBTC spot Bitcoin ETF and has exposure to Bitcoin Depot Inc., a Bitcoin ATM provider. Additionally, the filing shows that Wells Fargo has invested in the ProShares Bitcoin Strategy ETF (BITO), which offers investors exposure to BTC futures\u2014contracts speculating on the future price of the asset.<\/p>\n\n\n\n

Despite these investments, Wells Fargo's exposure to Bitcoin ETFs remains relatively small. The filing indicates that its investment in GBTC amounts to $141,817, while its investment in ProShares is under $1,200. The exposure to Bitcoin Depot stands at just $99.<\/p>\n\n\n\n

This disclosure comes after a report in February suggested that Wells Fargo, along with Bank of America's Merrill division, was providing its wealth management clients with exposure to Bitcoin ETFs via brokerage accounts. Wells Fargo has shown repeated interest in digital assets and even piloted its digital currency back in 2019.<\/p>\n\n\n\n

See Related:<\/em><\/strong> Bitcoin ETFs Hit Mainstream: BofA\u2019s Merrill, Wells Fargo Now Offer Spot Trading<\/a><\/p>\n\n\n\n

Bitcoin spot ETF era<\/h2>\n\n\n\n

The SEC's approval of 11 spot BTC ETFs in January has led to significant success for these products. This success mirrors the soaring price of Bitcoin, which reached an all-time high of $73,747 in March. The Bitcoin spot ETF issuers now hold 847,427 BTC which is at $50 billion at the time of writing. <\/p>\n\n\n\n

Hong Kong recently approved and started trading Bitcoin and Ethereum spot ETF. <\/p>\n","post_title":"Wells Fargo Dips Toes Into Crypto With Bitcoin ETF Investments","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"wells-fargo-dips-toes-into-crypto-with-bitcoin-etf-investments","to_ping":"","pinged":"","post_modified":"2024-05-12 20:19:23","post_modified_gmt":"2024-05-12 10:19:23","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16856","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":16761,"post_author":"15","post_date":"2024-05-06 23:24:50","post_date_gmt":"2024-05-06 13:24:50","post_content":"\n

The Grayscale Bitcoin Trust ETF ($GBTC) recently experienced a shift in its financial trend. It registers an inflow of $63 million and breaks an 11-week rally of net losses according to the Farside Investors<\/a>.<\/p>\n\n\n\n

\"Bitcoin
Since the inception of Bitcoin spot ETF in the U.S., GBTC has recorded outflows every single trading day.<\/figcaption><\/figure>\n\n\n\n

Bloomberg ETF analyst Eric Balchunas expressed his surprise<\/a> on Twitter, stating, \"Holy crap $GBTC had inflows today,\" and noted that their nearly 80-day streak of outflows had ended. He humorously remarked on the significance of this change, asking his followers to rate how significant this turnaround was for GBTC.<\/p>\n\n\n\n

Despite these challenges, GBTC remains the largest Bitcoin spot ETF, managing over $18.7 billion in assets and holding approximately 297,000 Bitcoin. However, consistent withdrawals have allowed new entrants like the BlackRock iShares Bitcoin Trust (IBIT), which now has $17.2 billion in assets, to narrow the gap.<\/p>\n\n\n\n

This news comes shortly after a downturn for IBIT, which saw a reduction of $37 million just a day earlier, as per Farside Investors. This event was part of a broader trend that saw the ETF market experience its worst day ever, with a total outflow of $563 million amid a decline in Bitcoin prices.<\/p>\n\n\n\n

See Related:<\/em><\/strong> GBTC Price Prediction after Judges Raised Hope for Investors In Favour Of Grayscale<\/a><\/p>\n\n\n\n

Bitcoin ETF in Asia<\/h2>\n\n\n\n

Hong Kong has recently made strides in the cryptocurrency market with the introduction of spot exchange-traded funds (ETFs) for Bitcoin and Ethereum. This development reflects Hong Kong's growing embrace of digital currencies and its ambition to become a major hub for cryptocurrency trading and finance. <\/p>\n\n\n\n

The trading started last April 30 and shows $12 million in trading volume on its first day. Bitcoin spot ETF recorded a $8.5 million and Ethereum spot ETF $2.5 million in trading volume. <\/p>\n","post_title":"Grayscale Bitcoin Trust Rebounds With $63 Million Influx After 80-Day Drought","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"grayscale-bitcoin-trust-rebounds-with-63-million-influx-after-80-day-drought","to_ping":"","pinged":"","post_modified":"2024-05-06 23:24:54","post_modified_gmt":"2024-05-06 13:24:54","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16761","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":16722,"post_author":"15","post_date":"2024-05-04 02:07:14","post_date_gmt":"2024-05-03 16:07:14","post_content":"\n

Elliptic, a blockchain analysis firm, released a study <\/a>conducted with the MIT-IBM Watson AI Lab on Wednesday. This study utilized a deep learning AI model to identify money laundering patterns within Bitcoin transactions and pinpoint wallets involved in criminal activities.<\/p>\n\n\n\n

Bitcoin's use of a decentralized public ledger, a fundamental aspect of the technology, facilitated the research, according to Elliptic. The collaboration between Elliptic and MIT-IBM leveraged AI to distinguish between legal and illegal transactions, tracking connections within the latter to expose potential money laundering activities.<\/p>\n\n\n\n

Elliptic stated, \u201cBlockchains provide fertile ground for machine learning techniques, thanks to the availability of both transaction data and information on the types of entities that are transacting, collected by us and others. This is in contrast to traditional finance where transaction data is typically siloed, making it challenging to apply these techniques.\u201d<\/em><\/p>\n\n\n\n

Elliptic clarified that instead of directly identifying transactions by illicit actors, the machine learning model is trained to recognize 'subgraphs'\u2014sequences of transactions that depict the laundering of Bitcoin. This method focuses more broadly on the multi-step laundering process rather than specific illegal actions on the blockchain.<\/p>\n\n\n\n

See Related:<\/em><\/strong> Binance's $3.9 Billion USDT Transfer Sparks Speculation Amidst CEO's Guilty Plea<\/a><\/p>\n\n\n\n

Money Laundering in 2024 Reports<\/h2>\n\n\n\n

In 2023, the volume of cryptocurrency involved in money laundering activities decreased significantly, with centralized exchanges continuing as the primary channels for such transactions. DeFi protocols and gambling services saw an uptick in use for laundering, yet they generally lack the anonymity preferred by launderers.<\/p>\n\n\n\n

Sophisticated criminals, particularly North Korea's Lazarus Group, adapted to law enforcement tactics by employing new mixers and utilizing cross-chain bridges to launder funds. These methods allow them to obfuscate the origins of illicit funds more effectively across multiple blockchain platforms, demonstrating a dynamic shift in the techniques used by high-level criminal enterprises to evade detection.<\/p>\n","post_title":"AI Powers New Tool To Detect Illegal Bitcoin Transactions, Study Shows","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"ai-powers-new-tool-to-detect-illegal-bitcoin-transactions-study-shows","to_ping":"","pinged":"","post_modified":"2024-05-04 02:07:20","post_modified_gmt":"2024-05-03 16:07:20","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16722","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":16491,"post_author":"15","post_date":"2024-04-21 10:09:53","post_date_gmt":"2024-04-21 00:09:53","post_content":"\n

Entrepreneur and Dallas Mavericks owner Mark Cuban recently discussed the implications of the upcoming Bitcoin halving. He emphasized its significant impact on miner revenues.<\/p>\n\n\n\n

During an interview <\/a>with The Block, Cuban pointed out that the halving will reduce mining rewards from 6.25 BTC to 3.125 BTC, effectively slashing the income for bitcoin miners by nearly half. However, Cuban expressed greater curiosity about the role artificial intelligence (AI) might play in the mining sector, especially concerning the demand for GPUs.<\/p>\n\n\n\n

Cuban highlighted the intense competition between AI's needs for GPUs and cryptocurrency mining's demands. He questioned whether the economic landscape of mining could be altered by the booming AI industry, asking if it might be more profitable to utilize GPUs for AI model training rather than mining. This issue primarily affects miners using GPUs for cryptocurrencies other than Bitcoin, which typically relies on ASIC machines.<\/p>\n\n\n\n

The intersection of AI and cryptocurrency mining is already seeing practical applications, with companies like Xive and Hive Digital Technologies expanding into AI to bolster their primary mining operations. <\/p>\n\n\n\n

See Related:<\/em><\/strong> Cryptocurrency Statistics And Insights (2022)<\/a><\/p>\n\n\n\n

Bitcoin Halving is Coming<\/h2>\n\n\n\n

Bitcoin halving is a significant event in the cryptocurrency world that occurs approximately every four years, or after 210,000 blocks are mined. During a halving, bitcoin miners' reward for verifying transactions and adding them to the blockchain is reduced by half. This mechanism was designed by Satoshi Nakamoto, the anonymous creator of Bitcoin, to control inflation by limiting the total number of bitcoins that can ever be in circulation to 21 million.<\/p>\n\n\n\n

As of writing, the price of Bitcoin is at $63,760, and 2 blocks remaining until the next Bitcoin halving.<\/p>\n","post_title":"Bitcoin Halving To Slash Miner Earnings, Cuban Eyes AI Shift","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"bitcoin-halving-to-slash-miner-earnings-cuban-eyes-ai-shift","to_ping":"","pinged":"","post_modified":"2024-04-21 10:10:00","post_modified_gmt":"2024-04-21 00:10:00","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16491","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":16460,"post_author":"15","post_date":"2024-04-19 23:38:06","post_date_gmt":"2024-04-19 13:38:06","post_content":"\n

Binance, the leading global cryptocurrency exchange, is set to make a comeback in India after agreeing to pay a $2 million penalty. This development follows a period of stringent regulatory scrutiny where the Indian government blocked nine cryptocurrency websites. They also prompted the removal of related apps from Apple and Google stores due to non-compliance with local laws. <\/p>\n\n\n\n

According to the Economic Times<\/a>, sources close to the matter indicate that Binance is restructuring its operations in South Asia. The cryptocurrency exchange is planning to fully comply with the Financial Intelligence Unit of India, which regulates the local trading of digital assets.<\/p>\n\n\n\n

The move comes as part of Binance's efforts to align with India's financial regulations, including adherence to anti-money laundering and taxation statutes. Before the crackdown, Binance held a commanding presence in the Indian market, with an estimated 90% of crypto holdings among Indian investors, totaling about $4 billion.<\/p>\n\n\n\n

See Related:<\/em><\/strong> Indian Parliament Passes A 30% Crypto Tax Law<\/a><\/p>\n\n\n\n

Nigeria Detains Binance Executives<\/h2>\n\n\n\n

Two months ago, Nigeria detained two executives of the Binance after they flew into the country. The country's Office of the National Security Adviser detained the two, and their passports were seized. <\/p>\n\n\n\n

Nigerian officials have leveled several charges against the cryptocurrency exchange Binance. The allegation includes exploiting the local economy, contributing to the devaluation of the Nigerian naira, and engaging in money laundering activities. They allege that Binance has been involved in manipulating the exchange rates by engaging in speculative actions and fixing rates. Furthermore, the Nigerian government has expressed concerns over $26 billion in transactions carried out on Binance's platform, which they report as being untraceable.<\/p>\n\n\n\n

Binance has denied any wrongdoing, but this is not the first time it has bumped heads with regulators.<\/p>\n","post_title":"Binance Set To Re-enter Indian Market with $2 Million Fine Settlement","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"binance-set-to-re-enter-indian-market-with-2-million-fine-settlement","to_ping":"","pinged":"","post_modified":"2024-04-20 04:11:08","post_modified_gmt":"2024-04-19 18:11:08","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16460","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":16362,"post_author":"15","post_date":"2024-04-15 03:52:59","post_date_gmt":"2024-04-14 17:52:59","post_content":"\n

Hong Kong is on the brink of approving spot exchange-traded funds (ETFs) for bitcoin and ether, potentially by Monday, Bloomberg reports<\/a>. This anticipated approval is poised to influence the cryptocurrency markets in the near term. The ETFs, if launched, will enable investors to trade bitcoin and ether on regulated platforms, enhancing the legitimacy and stability of investing in cryptocurrencies.<\/p>\n\n\n\n

Bloomberg\u2019s sources suggest that if the Hong Kong Exchanges & Clearing can finalize the listing details promptly, trading could commence by the end of April. Harvest Global Investments and Bosera Asset Management, in collaboration with HashKey Capital, are frontrunners in receiving the first approvals for these spot cryptocurrency ETFs. This move could cement Hong Kong's position as a major hub for digital assets in Asia, particularly if it leads to a successful market response similar to the U.S., where the approval of bitcoin ETFs in January triggered a price rally, pushing bitcoin\u2019s value to $73,000.<\/p>\n\n\n\n

However, unlike in the U.S., where ether ETFs have not yet been approved, Hong Kong might take the lead in this area as well. The city's market regulator, the Securities and Futures Commission (SFC), has not commented on the developments. Similarly, inquiries to Harvest Global Investments, Bosera Asset Management, HashKey Capital, and HKEX received no immediate response.<\/p>\n\n\n\n

See Related: <\/em><\/strong>Hong Kong Invests Over $6.4M Into Web 3 Development<\/a><\/p>\n\n\n\n

Ether ETF Update<\/h2>\n\n\n\n

The U.S. Securities and Exchange Commission (SEC) has once again delayed its decision on the application for an Ether ETF. A new deadline is set for May 23<\/a>.<\/p>\n\n\n\n

Despite this, analysts remain cautiously optimistic, estimating a 60% chance<\/a> of eventual approval. These delays and the ongoing review process indicate that the SEC is maintaining a cautious approach towards the approval of Ether ETFs. It reflects the complexities involved in integrating such products into the financial system.<\/p>\n","post_title":"Hong Kong Set to Approve Bitcoin And Ether ETFs By Monday","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"hong-kong-set-to-approve-bitcoin-and-ether-etfs-by-monday","to_ping":"","pinged":"","post_modified":"2024-04-15 03:53:05","post_modified_gmt":"2024-04-14 17:53:05","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16362","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":16347,"post_author":"15","post_date":"2024-04-14 00:03:48","post_date_gmt":"2024-04-13 14:03:48","post_content":"\n

Bitfinex Securities El Salvador is initiating a tokenized debt offering to fund the development of a Hampton by Hilton hotel complex spanning 4,484 square meters at El Salvador International Airport.<\/p>\n\n\n\n

In January, Bitfinex Securities<\/a> became the inaugural regulated entity to obtain a license to operate in El Salvador under the country\u2019s newly enacted Digital Asset Securities Law. This move anticipated a surge in demand for regulated investment vehicles, following the successful introduction of U.S. spot bitcoin exchange-traded funds.<\/p>\n\n\n\n

At the time, the tokenized securities platform announced its acceptance of customer applications and outlined a pipeline of potential financial asset issuances projected to launch in the year's first half.<\/p>\n\n\n\n

The tokenized debt, issued by El Salvadoran firm Inversiones Laguardia S.A. de C.V., is poised to be the inaugural token to trade on the platform. Utilizing the Liquid Network, a Bitcoin sidechain, the token will be denoted as HILSV and traded against U.S. dollars and Tether\u2019s USDT stablecoin.<\/p>\n\n\n\n

See Related: <\/em><\/strong>El Salvador Businesses Barely Impacted By Bitcoins Legality<\/a><\/p>\n\n\n\n

El Salvador Leads The Way<\/h2>\n\n\n\n


El Salvador stands at the forefront of cryptocurrency adoption wherein Bitcoin is recognized as legal tender. Since June 2021, it has been the first country to embrace Bitcoin alongside the US dollar for everyday transactions, making significant strides in the global crypto landscape. <\/p>\n\n\n\n

Under President Nayib Bukele, the government has initiated a groundbreaking project, where the state purchases one Bitcoin daily to bolster its reserves. <\/p>\n","post_title":"Bitfinex Securities Launches Tokenized Debt Offering For A Hotel In El Salvador","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"bitfinex-securities-launches-tokenized-debt-offering-for-a-hotel-in-el-salvador","to_ping":"","pinged":"","post_modified":"2024-04-14 00:03:52","post_modified_gmt":"2024-04-13 14:03:52","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16347","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

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\n

Balchunas pointed out that Vanguard inherited John Bogle's philosophy, favoring assets with intrinsic cash flow over commodities like BTC. In 2017, Bogle advised investors to \"avoid Bitcoin like the plague.\"<\/em><\/p>\n\n\n\n

\"Bitcoin is too volatile and not a store of value. It hasn't been, and it's very volatile,\"<\/em> Buckley said in a March interview. \"It's tough to see how it fits into a long-term portfolio.\"<\/em><\/p>\n\n\n\n

After over three decades at Vanguard, Buckley announced in February that he would retire by the end of the year, shortly after the Bitcoin ETFs went live. Many investors believed the timing was significant, suggesting Vanguard regretted missing out on the most successful ETF launch in history.<\/p>\n\n\n\n

\"I still think it's unlikely that this means Vanguard will launch a Bitcoin ETF (at least in the near term),\" <\/em>tweeted Bloomberg Intelligence's James Seyffart on Tuesday. \"But I think Salim could change Vanguard\u2019s stance on allowing their clients to buy spot Bitcoin ETFs on their brokerage platform.\"<\/em><\/p>\n","post_title":"Vanguard Hires Bitcoin Advocate Salim Ramji As New CEO","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"vanguard-hires-bitcoin-advocate-salim-ramji-as-new-ceo","to_ping":"","pinged":"","post_modified":"2024-05-18 23:22:16","post_modified_gmt":"2024-05-18 13:22:16","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16932","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":16843,"post_author":"15","post_date":"2024-05-13 00:31:20","post_date_gmt":"2024-05-12 14:31:20","post_content":"\n

Former U.S. President Donald Trump expressed his intention to enable the use of cryptocurrency for campaign donations. In videos <\/a>shared by NFT creator and influencer Frank Degods, Trump indicated to a group of NFT buyers his willingness to accept crypto donations for his campaign.<\/p>\n\n\n\n

He assured, \"If you can't, I'll make sure you can.\"<\/em> Additionally, he suggested that President Joe Biden lacks an understanding of cryptocurrency and urged crypto supporters to vote for him.<\/p>\n\n\n\n

Trump's remarks were made during a gathering he organized to meet with buyers of his \"Mugshot Edition\" NFTs. Attendees, who individually purchased over 47 NFTs priced at $99 each, were invited to a dinner on their day off from trial. Trump boasted about revitalizing interest in NFTs, stating, \"We made NFTs hot again.\"<\/p>\n\n\n\n

Regarding the crypto industry's presence in the U.S., Trump pledged to work towards retaining it, emphasizing the importance of embracing crypto businesses. His statements led to an 18.5% surge in the \"Jeo Boden\" memecoin, inspired by President Biden, according to CoinMarketCap data<\/a>. Trump expressed skepticism about the token's market capitalization, deeming it excessive.<\/p>\n\n\n\n

See Related: <\/em><\/strong>Trump Drops Series 2 Of Digital Trading Card NFTs On Polygon<\/a><\/p>\n\n\n\n

U.S. Presidency Candidates And Their Stance On Crypto<\/h2>\n\n\n\n

As the 2024 U.S. presidential election nears, candidates face scrutiny over their stance on cryptocurrency regulation. Republican nominee and former President Donald Trump has shown enthusiasm. <\/p>\n\n\n\n

On the other hand, the Democratic nominee emphasizes balanced regulation to safeguard consumers and curb illegal activities, reflecting broader party sentiments. However, within each party, there's a range of views, from advocating for stringent oversight to promoting innovation. With crypto's increasing impact across sectors, including finance and technology, the candidates' positions are poised to shape the industry's future and its interaction with the government.<\/p>\n","post_title":"Trump Pledges To Accept Cryptocurrency For Campaign Donations","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"trump-pledges-to-accept-cryptocurrency-for-campaign-donations","to_ping":"","pinged":"","post_modified":"2024-05-13 00:31:26","post_modified_gmt":"2024-05-12 14:31:26","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16843","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":16856,"post_author":"15","post_date":"2024-05-12 20:19:19","post_date_gmt":"2024-05-12 10:19:19","post_content":"\n

Wells Fargo, a prominent American bank, revealed its investments in several Bitcoin exchange-traded funds (ETFs) in a recent regulatory filing. This move aligns Wells Fargo with other institutions embracing crypto-based investment vehicles. <\/p>\n\n\n\n

According to the filing <\/a>with the U.S. Securities and Exchange Commission (SEC), the bank has purchased shares of Grayscale's GBTC spot Bitcoin ETF and has exposure to Bitcoin Depot Inc., a Bitcoin ATM provider. Additionally, the filing shows that Wells Fargo has invested in the ProShares Bitcoin Strategy ETF (BITO), which offers investors exposure to BTC futures\u2014contracts speculating on the future price of the asset.<\/p>\n\n\n\n

Despite these investments, Wells Fargo's exposure to Bitcoin ETFs remains relatively small. The filing indicates that its investment in GBTC amounts to $141,817, while its investment in ProShares is under $1,200. The exposure to Bitcoin Depot stands at just $99.<\/p>\n\n\n\n

This disclosure comes after a report in February suggested that Wells Fargo, along with Bank of America's Merrill division, was providing its wealth management clients with exposure to Bitcoin ETFs via brokerage accounts. Wells Fargo has shown repeated interest in digital assets and even piloted its digital currency back in 2019.<\/p>\n\n\n\n

See Related:<\/em><\/strong> Bitcoin ETFs Hit Mainstream: BofA\u2019s Merrill, Wells Fargo Now Offer Spot Trading<\/a><\/p>\n\n\n\n

Bitcoin spot ETF era<\/h2>\n\n\n\n

The SEC's approval of 11 spot BTC ETFs in January has led to significant success for these products. This success mirrors the soaring price of Bitcoin, which reached an all-time high of $73,747 in March. The Bitcoin spot ETF issuers now hold 847,427 BTC which is at $50 billion at the time of writing. <\/p>\n\n\n\n

Hong Kong recently approved and started trading Bitcoin and Ethereum spot ETF. <\/p>\n","post_title":"Wells Fargo Dips Toes Into Crypto With Bitcoin ETF Investments","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"wells-fargo-dips-toes-into-crypto-with-bitcoin-etf-investments","to_ping":"","pinged":"","post_modified":"2024-05-12 20:19:23","post_modified_gmt":"2024-05-12 10:19:23","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16856","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":16761,"post_author":"15","post_date":"2024-05-06 23:24:50","post_date_gmt":"2024-05-06 13:24:50","post_content":"\n

The Grayscale Bitcoin Trust ETF ($GBTC) recently experienced a shift in its financial trend. It registers an inflow of $63 million and breaks an 11-week rally of net losses according to the Farside Investors<\/a>.<\/p>\n\n\n\n

\"Bitcoin
Since the inception of Bitcoin spot ETF in the U.S., GBTC has recorded outflows every single trading day.<\/figcaption><\/figure>\n\n\n\n

Bloomberg ETF analyst Eric Balchunas expressed his surprise<\/a> on Twitter, stating, \"Holy crap $GBTC had inflows today,\" and noted that their nearly 80-day streak of outflows had ended. He humorously remarked on the significance of this change, asking his followers to rate how significant this turnaround was for GBTC.<\/p>\n\n\n\n

Despite these challenges, GBTC remains the largest Bitcoin spot ETF, managing over $18.7 billion in assets and holding approximately 297,000 Bitcoin. However, consistent withdrawals have allowed new entrants like the BlackRock iShares Bitcoin Trust (IBIT), which now has $17.2 billion in assets, to narrow the gap.<\/p>\n\n\n\n

This news comes shortly after a downturn for IBIT, which saw a reduction of $37 million just a day earlier, as per Farside Investors. This event was part of a broader trend that saw the ETF market experience its worst day ever, with a total outflow of $563 million amid a decline in Bitcoin prices.<\/p>\n\n\n\n

See Related:<\/em><\/strong> GBTC Price Prediction after Judges Raised Hope for Investors In Favour Of Grayscale<\/a><\/p>\n\n\n\n

Bitcoin ETF in Asia<\/h2>\n\n\n\n

Hong Kong has recently made strides in the cryptocurrency market with the introduction of spot exchange-traded funds (ETFs) for Bitcoin and Ethereum. This development reflects Hong Kong's growing embrace of digital currencies and its ambition to become a major hub for cryptocurrency trading and finance. <\/p>\n\n\n\n

The trading started last April 30 and shows $12 million in trading volume on its first day. Bitcoin spot ETF recorded a $8.5 million and Ethereum spot ETF $2.5 million in trading volume. <\/p>\n","post_title":"Grayscale Bitcoin Trust Rebounds With $63 Million Influx After 80-Day Drought","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"grayscale-bitcoin-trust-rebounds-with-63-million-influx-after-80-day-drought","to_ping":"","pinged":"","post_modified":"2024-05-06 23:24:54","post_modified_gmt":"2024-05-06 13:24:54","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16761","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":16722,"post_author":"15","post_date":"2024-05-04 02:07:14","post_date_gmt":"2024-05-03 16:07:14","post_content":"\n

Elliptic, a blockchain analysis firm, released a study <\/a>conducted with the MIT-IBM Watson AI Lab on Wednesday. This study utilized a deep learning AI model to identify money laundering patterns within Bitcoin transactions and pinpoint wallets involved in criminal activities.<\/p>\n\n\n\n

Bitcoin's use of a decentralized public ledger, a fundamental aspect of the technology, facilitated the research, according to Elliptic. The collaboration between Elliptic and MIT-IBM leveraged AI to distinguish between legal and illegal transactions, tracking connections within the latter to expose potential money laundering activities.<\/p>\n\n\n\n

Elliptic stated, \u201cBlockchains provide fertile ground for machine learning techniques, thanks to the availability of both transaction data and information on the types of entities that are transacting, collected by us and others. This is in contrast to traditional finance where transaction data is typically siloed, making it challenging to apply these techniques.\u201d<\/em><\/p>\n\n\n\n

Elliptic clarified that instead of directly identifying transactions by illicit actors, the machine learning model is trained to recognize 'subgraphs'\u2014sequences of transactions that depict the laundering of Bitcoin. This method focuses more broadly on the multi-step laundering process rather than specific illegal actions on the blockchain.<\/p>\n\n\n\n

See Related:<\/em><\/strong> Binance's $3.9 Billion USDT Transfer Sparks Speculation Amidst CEO's Guilty Plea<\/a><\/p>\n\n\n\n

Money Laundering in 2024 Reports<\/h2>\n\n\n\n

In 2023, the volume of cryptocurrency involved in money laundering activities decreased significantly, with centralized exchanges continuing as the primary channels for such transactions. DeFi protocols and gambling services saw an uptick in use for laundering, yet they generally lack the anonymity preferred by launderers.<\/p>\n\n\n\n

Sophisticated criminals, particularly North Korea's Lazarus Group, adapted to law enforcement tactics by employing new mixers and utilizing cross-chain bridges to launder funds. These methods allow them to obfuscate the origins of illicit funds more effectively across multiple blockchain platforms, demonstrating a dynamic shift in the techniques used by high-level criminal enterprises to evade detection.<\/p>\n","post_title":"AI Powers New Tool To Detect Illegal Bitcoin Transactions, Study Shows","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"ai-powers-new-tool-to-detect-illegal-bitcoin-transactions-study-shows","to_ping":"","pinged":"","post_modified":"2024-05-04 02:07:20","post_modified_gmt":"2024-05-03 16:07:20","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16722","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":16491,"post_author":"15","post_date":"2024-04-21 10:09:53","post_date_gmt":"2024-04-21 00:09:53","post_content":"\n

Entrepreneur and Dallas Mavericks owner Mark Cuban recently discussed the implications of the upcoming Bitcoin halving. He emphasized its significant impact on miner revenues.<\/p>\n\n\n\n

During an interview <\/a>with The Block, Cuban pointed out that the halving will reduce mining rewards from 6.25 BTC to 3.125 BTC, effectively slashing the income for bitcoin miners by nearly half. However, Cuban expressed greater curiosity about the role artificial intelligence (AI) might play in the mining sector, especially concerning the demand for GPUs.<\/p>\n\n\n\n

Cuban highlighted the intense competition between AI's needs for GPUs and cryptocurrency mining's demands. He questioned whether the economic landscape of mining could be altered by the booming AI industry, asking if it might be more profitable to utilize GPUs for AI model training rather than mining. This issue primarily affects miners using GPUs for cryptocurrencies other than Bitcoin, which typically relies on ASIC machines.<\/p>\n\n\n\n

The intersection of AI and cryptocurrency mining is already seeing practical applications, with companies like Xive and Hive Digital Technologies expanding into AI to bolster their primary mining operations. <\/p>\n\n\n\n

See Related:<\/em><\/strong> Cryptocurrency Statistics And Insights (2022)<\/a><\/p>\n\n\n\n

Bitcoin Halving is Coming<\/h2>\n\n\n\n

Bitcoin halving is a significant event in the cryptocurrency world that occurs approximately every four years, or after 210,000 blocks are mined. During a halving, bitcoin miners' reward for verifying transactions and adding them to the blockchain is reduced by half. This mechanism was designed by Satoshi Nakamoto, the anonymous creator of Bitcoin, to control inflation by limiting the total number of bitcoins that can ever be in circulation to 21 million.<\/p>\n\n\n\n

As of writing, the price of Bitcoin is at $63,760, and 2 blocks remaining until the next Bitcoin halving.<\/p>\n","post_title":"Bitcoin Halving To Slash Miner Earnings, Cuban Eyes AI Shift","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"bitcoin-halving-to-slash-miner-earnings-cuban-eyes-ai-shift","to_ping":"","pinged":"","post_modified":"2024-04-21 10:10:00","post_modified_gmt":"2024-04-21 00:10:00","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16491","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":16460,"post_author":"15","post_date":"2024-04-19 23:38:06","post_date_gmt":"2024-04-19 13:38:06","post_content":"\n

Binance, the leading global cryptocurrency exchange, is set to make a comeback in India after agreeing to pay a $2 million penalty. This development follows a period of stringent regulatory scrutiny where the Indian government blocked nine cryptocurrency websites. They also prompted the removal of related apps from Apple and Google stores due to non-compliance with local laws. <\/p>\n\n\n\n

According to the Economic Times<\/a>, sources close to the matter indicate that Binance is restructuring its operations in South Asia. The cryptocurrency exchange is planning to fully comply with the Financial Intelligence Unit of India, which regulates the local trading of digital assets.<\/p>\n\n\n\n

The move comes as part of Binance's efforts to align with India's financial regulations, including adherence to anti-money laundering and taxation statutes. Before the crackdown, Binance held a commanding presence in the Indian market, with an estimated 90% of crypto holdings among Indian investors, totaling about $4 billion.<\/p>\n\n\n\n

See Related:<\/em><\/strong> Indian Parliament Passes A 30% Crypto Tax Law<\/a><\/p>\n\n\n\n

Nigeria Detains Binance Executives<\/h2>\n\n\n\n

Two months ago, Nigeria detained two executives of the Binance after they flew into the country. The country's Office of the National Security Adviser detained the two, and their passports were seized. <\/p>\n\n\n\n

Nigerian officials have leveled several charges against the cryptocurrency exchange Binance. The allegation includes exploiting the local economy, contributing to the devaluation of the Nigerian naira, and engaging in money laundering activities. They allege that Binance has been involved in manipulating the exchange rates by engaging in speculative actions and fixing rates. Furthermore, the Nigerian government has expressed concerns over $26 billion in transactions carried out on Binance's platform, which they report as being untraceable.<\/p>\n\n\n\n

Binance has denied any wrongdoing, but this is not the first time it has bumped heads with regulators.<\/p>\n","post_title":"Binance Set To Re-enter Indian Market with $2 Million Fine Settlement","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"binance-set-to-re-enter-indian-market-with-2-million-fine-settlement","to_ping":"","pinged":"","post_modified":"2024-04-20 04:11:08","post_modified_gmt":"2024-04-19 18:11:08","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16460","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":16362,"post_author":"15","post_date":"2024-04-15 03:52:59","post_date_gmt":"2024-04-14 17:52:59","post_content":"\n

Hong Kong is on the brink of approving spot exchange-traded funds (ETFs) for bitcoin and ether, potentially by Monday, Bloomberg reports<\/a>. This anticipated approval is poised to influence the cryptocurrency markets in the near term. The ETFs, if launched, will enable investors to trade bitcoin and ether on regulated platforms, enhancing the legitimacy and stability of investing in cryptocurrencies.<\/p>\n\n\n\n

Bloomberg\u2019s sources suggest that if the Hong Kong Exchanges & Clearing can finalize the listing details promptly, trading could commence by the end of April. Harvest Global Investments and Bosera Asset Management, in collaboration with HashKey Capital, are frontrunners in receiving the first approvals for these spot cryptocurrency ETFs. This move could cement Hong Kong's position as a major hub for digital assets in Asia, particularly if it leads to a successful market response similar to the U.S., where the approval of bitcoin ETFs in January triggered a price rally, pushing bitcoin\u2019s value to $73,000.<\/p>\n\n\n\n

However, unlike in the U.S., where ether ETFs have not yet been approved, Hong Kong might take the lead in this area as well. The city's market regulator, the Securities and Futures Commission (SFC), has not commented on the developments. Similarly, inquiries to Harvest Global Investments, Bosera Asset Management, HashKey Capital, and HKEX received no immediate response.<\/p>\n\n\n\n

See Related: <\/em><\/strong>Hong Kong Invests Over $6.4M Into Web 3 Development<\/a><\/p>\n\n\n\n

Ether ETF Update<\/h2>\n\n\n\n

The U.S. Securities and Exchange Commission (SEC) has once again delayed its decision on the application for an Ether ETF. A new deadline is set for May 23<\/a>.<\/p>\n\n\n\n

Despite this, analysts remain cautiously optimistic, estimating a 60% chance<\/a> of eventual approval. These delays and the ongoing review process indicate that the SEC is maintaining a cautious approach towards the approval of Ether ETFs. It reflects the complexities involved in integrating such products into the financial system.<\/p>\n","post_title":"Hong Kong Set to Approve Bitcoin And Ether ETFs By Monday","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"hong-kong-set-to-approve-bitcoin-and-ether-etfs-by-monday","to_ping":"","pinged":"","post_modified":"2024-04-15 03:53:05","post_modified_gmt":"2024-04-14 17:53:05","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16362","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":16347,"post_author":"15","post_date":"2024-04-14 00:03:48","post_date_gmt":"2024-04-13 14:03:48","post_content":"\n

Bitfinex Securities El Salvador is initiating a tokenized debt offering to fund the development of a Hampton by Hilton hotel complex spanning 4,484 square meters at El Salvador International Airport.<\/p>\n\n\n\n

In January, Bitfinex Securities<\/a> became the inaugural regulated entity to obtain a license to operate in El Salvador under the country\u2019s newly enacted Digital Asset Securities Law. This move anticipated a surge in demand for regulated investment vehicles, following the successful introduction of U.S. spot bitcoin exchange-traded funds.<\/p>\n\n\n\n

At the time, the tokenized securities platform announced its acceptance of customer applications and outlined a pipeline of potential financial asset issuances projected to launch in the year's first half.<\/p>\n\n\n\n

The tokenized debt, issued by El Salvadoran firm Inversiones Laguardia S.A. de C.V., is poised to be the inaugural token to trade on the platform. Utilizing the Liquid Network, a Bitcoin sidechain, the token will be denoted as HILSV and traded against U.S. dollars and Tether\u2019s USDT stablecoin.<\/p>\n\n\n\n

See Related: <\/em><\/strong>El Salvador Businesses Barely Impacted By Bitcoins Legality<\/a><\/p>\n\n\n\n

El Salvador Leads The Way<\/h2>\n\n\n\n


El Salvador stands at the forefront of cryptocurrency adoption wherein Bitcoin is recognized as legal tender. Since June 2021, it has been the first country to embrace Bitcoin alongside the US dollar for everyday transactions, making significant strides in the global crypto landscape. <\/p>\n\n\n\n

Under President Nayib Bukele, the government has initiated a groundbreaking project, where the state purchases one Bitcoin daily to bolster its reserves. <\/p>\n","post_title":"Bitfinex Securities Launches Tokenized Debt Offering For A Hotel In El Salvador","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"bitfinex-securities-launches-tokenized-debt-offering-for-a-hotel-in-el-salvador","to_ping":"","pinged":"","post_modified":"2024-04-14 00:03:52","post_modified_gmt":"2024-04-13 14:03:52","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16347","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 … 4 5 6 7 8 … 20

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

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ADVERTISEMENT
\n

Vanguard has taken a different stance. In January, Bitcoin investors were surprised to find that Vanguard did not list Bitcoin spot ETFs from providers like BlackRock and Fidelity, citing inconsistencies with its \"investment philosophy.\"<\/p>\n\n\n\n

Balchunas pointed out that Vanguard inherited John Bogle's philosophy, favoring assets with intrinsic cash flow over commodities like BTC. In 2017, Bogle advised investors to \"avoid Bitcoin like the plague.\"<\/em><\/p>\n\n\n\n

\"Bitcoin is too volatile and not a store of value. It hasn't been, and it's very volatile,\"<\/em> Buckley said in a March interview. \"It's tough to see how it fits into a long-term portfolio.\"<\/em><\/p>\n\n\n\n

After over three decades at Vanguard, Buckley announced in February that he would retire by the end of the year, shortly after the Bitcoin ETFs went live. Many investors believed the timing was significant, suggesting Vanguard regretted missing out on the most successful ETF launch in history.<\/p>\n\n\n\n

\"I still think it's unlikely that this means Vanguard will launch a Bitcoin ETF (at least in the near term),\" <\/em>tweeted Bloomberg Intelligence's James Seyffart on Tuesday. \"But I think Salim could change Vanguard\u2019s stance on allowing their clients to buy spot Bitcoin ETFs on their brokerage platform.\"<\/em><\/p>\n","post_title":"Vanguard Hires Bitcoin Advocate Salim Ramji As New CEO","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"vanguard-hires-bitcoin-advocate-salim-ramji-as-new-ceo","to_ping":"","pinged":"","post_modified":"2024-05-18 23:22:16","post_modified_gmt":"2024-05-18 13:22:16","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16932","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":16843,"post_author":"15","post_date":"2024-05-13 00:31:20","post_date_gmt":"2024-05-12 14:31:20","post_content":"\n

Former U.S. President Donald Trump expressed his intention to enable the use of cryptocurrency for campaign donations. In videos <\/a>shared by NFT creator and influencer Frank Degods, Trump indicated to a group of NFT buyers his willingness to accept crypto donations for his campaign.<\/p>\n\n\n\n

He assured, \"If you can't, I'll make sure you can.\"<\/em> Additionally, he suggested that President Joe Biden lacks an understanding of cryptocurrency and urged crypto supporters to vote for him.<\/p>\n\n\n\n

Trump's remarks were made during a gathering he organized to meet with buyers of his \"Mugshot Edition\" NFTs. Attendees, who individually purchased over 47 NFTs priced at $99 each, were invited to a dinner on their day off from trial. Trump boasted about revitalizing interest in NFTs, stating, \"We made NFTs hot again.\"<\/p>\n\n\n\n

Regarding the crypto industry's presence in the U.S., Trump pledged to work towards retaining it, emphasizing the importance of embracing crypto businesses. His statements led to an 18.5% surge in the \"Jeo Boden\" memecoin, inspired by President Biden, according to CoinMarketCap data<\/a>. Trump expressed skepticism about the token's market capitalization, deeming it excessive.<\/p>\n\n\n\n

See Related: <\/em><\/strong>Trump Drops Series 2 Of Digital Trading Card NFTs On Polygon<\/a><\/p>\n\n\n\n

U.S. Presidency Candidates And Their Stance On Crypto<\/h2>\n\n\n\n

As the 2024 U.S. presidential election nears, candidates face scrutiny over their stance on cryptocurrency regulation. Republican nominee and former President Donald Trump has shown enthusiasm. <\/p>\n\n\n\n

On the other hand, the Democratic nominee emphasizes balanced regulation to safeguard consumers and curb illegal activities, reflecting broader party sentiments. However, within each party, there's a range of views, from advocating for stringent oversight to promoting innovation. With crypto's increasing impact across sectors, including finance and technology, the candidates' positions are poised to shape the industry's future and its interaction with the government.<\/p>\n","post_title":"Trump Pledges To Accept Cryptocurrency For Campaign Donations","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"trump-pledges-to-accept-cryptocurrency-for-campaign-donations","to_ping":"","pinged":"","post_modified":"2024-05-13 00:31:26","post_modified_gmt":"2024-05-12 14:31:26","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16843","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":16856,"post_author":"15","post_date":"2024-05-12 20:19:19","post_date_gmt":"2024-05-12 10:19:19","post_content":"\n

Wells Fargo, a prominent American bank, revealed its investments in several Bitcoin exchange-traded funds (ETFs) in a recent regulatory filing. This move aligns Wells Fargo with other institutions embracing crypto-based investment vehicles. <\/p>\n\n\n\n

According to the filing <\/a>with the U.S. Securities and Exchange Commission (SEC), the bank has purchased shares of Grayscale's GBTC spot Bitcoin ETF and has exposure to Bitcoin Depot Inc., a Bitcoin ATM provider. Additionally, the filing shows that Wells Fargo has invested in the ProShares Bitcoin Strategy ETF (BITO), which offers investors exposure to BTC futures\u2014contracts speculating on the future price of the asset.<\/p>\n\n\n\n

Despite these investments, Wells Fargo's exposure to Bitcoin ETFs remains relatively small. The filing indicates that its investment in GBTC amounts to $141,817, while its investment in ProShares is under $1,200. The exposure to Bitcoin Depot stands at just $99.<\/p>\n\n\n\n

This disclosure comes after a report in February suggested that Wells Fargo, along with Bank of America's Merrill division, was providing its wealth management clients with exposure to Bitcoin ETFs via brokerage accounts. Wells Fargo has shown repeated interest in digital assets and even piloted its digital currency back in 2019.<\/p>\n\n\n\n

See Related:<\/em><\/strong> Bitcoin ETFs Hit Mainstream: BofA\u2019s Merrill, Wells Fargo Now Offer Spot Trading<\/a><\/p>\n\n\n\n

Bitcoin spot ETF era<\/h2>\n\n\n\n

The SEC's approval of 11 spot BTC ETFs in January has led to significant success for these products. This success mirrors the soaring price of Bitcoin, which reached an all-time high of $73,747 in March. The Bitcoin spot ETF issuers now hold 847,427 BTC which is at $50 billion at the time of writing. <\/p>\n\n\n\n

Hong Kong recently approved and started trading Bitcoin and Ethereum spot ETF. <\/p>\n","post_title":"Wells Fargo Dips Toes Into Crypto With Bitcoin ETF Investments","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"wells-fargo-dips-toes-into-crypto-with-bitcoin-etf-investments","to_ping":"","pinged":"","post_modified":"2024-05-12 20:19:23","post_modified_gmt":"2024-05-12 10:19:23","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16856","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":16761,"post_author":"15","post_date":"2024-05-06 23:24:50","post_date_gmt":"2024-05-06 13:24:50","post_content":"\n

The Grayscale Bitcoin Trust ETF ($GBTC) recently experienced a shift in its financial trend. It registers an inflow of $63 million and breaks an 11-week rally of net losses according to the Farside Investors<\/a>.<\/p>\n\n\n\n

\"Bitcoin
Since the inception of Bitcoin spot ETF in the U.S., GBTC has recorded outflows every single trading day.<\/figcaption><\/figure>\n\n\n\n

Bloomberg ETF analyst Eric Balchunas expressed his surprise<\/a> on Twitter, stating, \"Holy crap $GBTC had inflows today,\" and noted that their nearly 80-day streak of outflows had ended. He humorously remarked on the significance of this change, asking his followers to rate how significant this turnaround was for GBTC.<\/p>\n\n\n\n

Despite these challenges, GBTC remains the largest Bitcoin spot ETF, managing over $18.7 billion in assets and holding approximately 297,000 Bitcoin. However, consistent withdrawals have allowed new entrants like the BlackRock iShares Bitcoin Trust (IBIT), which now has $17.2 billion in assets, to narrow the gap.<\/p>\n\n\n\n

This news comes shortly after a downturn for IBIT, which saw a reduction of $37 million just a day earlier, as per Farside Investors. This event was part of a broader trend that saw the ETF market experience its worst day ever, with a total outflow of $563 million amid a decline in Bitcoin prices.<\/p>\n\n\n\n

See Related:<\/em><\/strong> GBTC Price Prediction after Judges Raised Hope for Investors In Favour Of Grayscale<\/a><\/p>\n\n\n\n

Bitcoin ETF in Asia<\/h2>\n\n\n\n

Hong Kong has recently made strides in the cryptocurrency market with the introduction of spot exchange-traded funds (ETFs) for Bitcoin and Ethereum. This development reflects Hong Kong's growing embrace of digital currencies and its ambition to become a major hub for cryptocurrency trading and finance. <\/p>\n\n\n\n

The trading started last April 30 and shows $12 million in trading volume on its first day. Bitcoin spot ETF recorded a $8.5 million and Ethereum spot ETF $2.5 million in trading volume. <\/p>\n","post_title":"Grayscale Bitcoin Trust Rebounds With $63 Million Influx After 80-Day Drought","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"grayscale-bitcoin-trust-rebounds-with-63-million-influx-after-80-day-drought","to_ping":"","pinged":"","post_modified":"2024-05-06 23:24:54","post_modified_gmt":"2024-05-06 13:24:54","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16761","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":16722,"post_author":"15","post_date":"2024-05-04 02:07:14","post_date_gmt":"2024-05-03 16:07:14","post_content":"\n

Elliptic, a blockchain analysis firm, released a study <\/a>conducted with the MIT-IBM Watson AI Lab on Wednesday. This study utilized a deep learning AI model to identify money laundering patterns within Bitcoin transactions and pinpoint wallets involved in criminal activities.<\/p>\n\n\n\n

Bitcoin's use of a decentralized public ledger, a fundamental aspect of the technology, facilitated the research, according to Elliptic. The collaboration between Elliptic and MIT-IBM leveraged AI to distinguish between legal and illegal transactions, tracking connections within the latter to expose potential money laundering activities.<\/p>\n\n\n\n

Elliptic stated, \u201cBlockchains provide fertile ground for machine learning techniques, thanks to the availability of both transaction data and information on the types of entities that are transacting, collected by us and others. This is in contrast to traditional finance where transaction data is typically siloed, making it challenging to apply these techniques.\u201d<\/em><\/p>\n\n\n\n

Elliptic clarified that instead of directly identifying transactions by illicit actors, the machine learning model is trained to recognize 'subgraphs'\u2014sequences of transactions that depict the laundering of Bitcoin. This method focuses more broadly on the multi-step laundering process rather than specific illegal actions on the blockchain.<\/p>\n\n\n\n

See Related:<\/em><\/strong> Binance's $3.9 Billion USDT Transfer Sparks Speculation Amidst CEO's Guilty Plea<\/a><\/p>\n\n\n\n

Money Laundering in 2024 Reports<\/h2>\n\n\n\n

In 2023, the volume of cryptocurrency involved in money laundering activities decreased significantly, with centralized exchanges continuing as the primary channels for such transactions. DeFi protocols and gambling services saw an uptick in use for laundering, yet they generally lack the anonymity preferred by launderers.<\/p>\n\n\n\n

Sophisticated criminals, particularly North Korea's Lazarus Group, adapted to law enforcement tactics by employing new mixers and utilizing cross-chain bridges to launder funds. These methods allow them to obfuscate the origins of illicit funds more effectively across multiple blockchain platforms, demonstrating a dynamic shift in the techniques used by high-level criminal enterprises to evade detection.<\/p>\n","post_title":"AI Powers New Tool To Detect Illegal Bitcoin Transactions, Study Shows","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"ai-powers-new-tool-to-detect-illegal-bitcoin-transactions-study-shows","to_ping":"","pinged":"","post_modified":"2024-05-04 02:07:20","post_modified_gmt":"2024-05-03 16:07:20","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16722","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":16491,"post_author":"15","post_date":"2024-04-21 10:09:53","post_date_gmt":"2024-04-21 00:09:53","post_content":"\n

Entrepreneur and Dallas Mavericks owner Mark Cuban recently discussed the implications of the upcoming Bitcoin halving. He emphasized its significant impact on miner revenues.<\/p>\n\n\n\n

During an interview <\/a>with The Block, Cuban pointed out that the halving will reduce mining rewards from 6.25 BTC to 3.125 BTC, effectively slashing the income for bitcoin miners by nearly half. However, Cuban expressed greater curiosity about the role artificial intelligence (AI) might play in the mining sector, especially concerning the demand for GPUs.<\/p>\n\n\n\n

Cuban highlighted the intense competition between AI's needs for GPUs and cryptocurrency mining's demands. He questioned whether the economic landscape of mining could be altered by the booming AI industry, asking if it might be more profitable to utilize GPUs for AI model training rather than mining. This issue primarily affects miners using GPUs for cryptocurrencies other than Bitcoin, which typically relies on ASIC machines.<\/p>\n\n\n\n

The intersection of AI and cryptocurrency mining is already seeing practical applications, with companies like Xive and Hive Digital Technologies expanding into AI to bolster their primary mining operations. <\/p>\n\n\n\n

See Related:<\/em><\/strong> Cryptocurrency Statistics And Insights (2022)<\/a><\/p>\n\n\n\n

Bitcoin Halving is Coming<\/h2>\n\n\n\n

Bitcoin halving is a significant event in the cryptocurrency world that occurs approximately every four years, or after 210,000 blocks are mined. During a halving, bitcoin miners' reward for verifying transactions and adding them to the blockchain is reduced by half. This mechanism was designed by Satoshi Nakamoto, the anonymous creator of Bitcoin, to control inflation by limiting the total number of bitcoins that can ever be in circulation to 21 million.<\/p>\n\n\n\n

As of writing, the price of Bitcoin is at $63,760, and 2 blocks remaining until the next Bitcoin halving.<\/p>\n","post_title":"Bitcoin Halving To Slash Miner Earnings, Cuban Eyes AI Shift","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"bitcoin-halving-to-slash-miner-earnings-cuban-eyes-ai-shift","to_ping":"","pinged":"","post_modified":"2024-04-21 10:10:00","post_modified_gmt":"2024-04-21 00:10:00","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16491","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":16460,"post_author":"15","post_date":"2024-04-19 23:38:06","post_date_gmt":"2024-04-19 13:38:06","post_content":"\n

Binance, the leading global cryptocurrency exchange, is set to make a comeback in India after agreeing to pay a $2 million penalty. This development follows a period of stringent regulatory scrutiny where the Indian government blocked nine cryptocurrency websites. They also prompted the removal of related apps from Apple and Google stores due to non-compliance with local laws. <\/p>\n\n\n\n

According to the Economic Times<\/a>, sources close to the matter indicate that Binance is restructuring its operations in South Asia. The cryptocurrency exchange is planning to fully comply with the Financial Intelligence Unit of India, which regulates the local trading of digital assets.<\/p>\n\n\n\n

The move comes as part of Binance's efforts to align with India's financial regulations, including adherence to anti-money laundering and taxation statutes. Before the crackdown, Binance held a commanding presence in the Indian market, with an estimated 90% of crypto holdings among Indian investors, totaling about $4 billion.<\/p>\n\n\n\n

See Related:<\/em><\/strong> Indian Parliament Passes A 30% Crypto Tax Law<\/a><\/p>\n\n\n\n

Nigeria Detains Binance Executives<\/h2>\n\n\n\n

Two months ago, Nigeria detained two executives of the Binance after they flew into the country. The country's Office of the National Security Adviser detained the two, and their passports were seized. <\/p>\n\n\n\n

Nigerian officials have leveled several charges against the cryptocurrency exchange Binance. The allegation includes exploiting the local economy, contributing to the devaluation of the Nigerian naira, and engaging in money laundering activities. They allege that Binance has been involved in manipulating the exchange rates by engaging in speculative actions and fixing rates. Furthermore, the Nigerian government has expressed concerns over $26 billion in transactions carried out on Binance's platform, which they report as being untraceable.<\/p>\n\n\n\n

Binance has denied any wrongdoing, but this is not the first time it has bumped heads with regulators.<\/p>\n","post_title":"Binance Set To Re-enter Indian Market with $2 Million Fine Settlement","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"binance-set-to-re-enter-indian-market-with-2-million-fine-settlement","to_ping":"","pinged":"","post_modified":"2024-04-20 04:11:08","post_modified_gmt":"2024-04-19 18:11:08","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16460","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":16362,"post_author":"15","post_date":"2024-04-15 03:52:59","post_date_gmt":"2024-04-14 17:52:59","post_content":"\n

Hong Kong is on the brink of approving spot exchange-traded funds (ETFs) for bitcoin and ether, potentially by Monday, Bloomberg reports<\/a>. This anticipated approval is poised to influence the cryptocurrency markets in the near term. The ETFs, if launched, will enable investors to trade bitcoin and ether on regulated platforms, enhancing the legitimacy and stability of investing in cryptocurrencies.<\/p>\n\n\n\n

Bloomberg\u2019s sources suggest that if the Hong Kong Exchanges & Clearing can finalize the listing details promptly, trading could commence by the end of April. Harvest Global Investments and Bosera Asset Management, in collaboration with HashKey Capital, are frontrunners in receiving the first approvals for these spot cryptocurrency ETFs. This move could cement Hong Kong's position as a major hub for digital assets in Asia, particularly if it leads to a successful market response similar to the U.S., where the approval of bitcoin ETFs in January triggered a price rally, pushing bitcoin\u2019s value to $73,000.<\/p>\n\n\n\n

However, unlike in the U.S., where ether ETFs have not yet been approved, Hong Kong might take the lead in this area as well. The city's market regulator, the Securities and Futures Commission (SFC), has not commented on the developments. Similarly, inquiries to Harvest Global Investments, Bosera Asset Management, HashKey Capital, and HKEX received no immediate response.<\/p>\n\n\n\n

See Related: <\/em><\/strong>Hong Kong Invests Over $6.4M Into Web 3 Development<\/a><\/p>\n\n\n\n

Ether ETF Update<\/h2>\n\n\n\n

The U.S. Securities and Exchange Commission (SEC) has once again delayed its decision on the application for an Ether ETF. A new deadline is set for May 23<\/a>.<\/p>\n\n\n\n

Despite this, analysts remain cautiously optimistic, estimating a 60% chance<\/a> of eventual approval. These delays and the ongoing review process indicate that the SEC is maintaining a cautious approach towards the approval of Ether ETFs. It reflects the complexities involved in integrating such products into the financial system.<\/p>\n","post_title":"Hong Kong Set to Approve Bitcoin And Ether ETFs By Monday","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"hong-kong-set-to-approve-bitcoin-and-ether-etfs-by-monday","to_ping":"","pinged":"","post_modified":"2024-04-15 03:53:05","post_modified_gmt":"2024-04-14 17:53:05","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16362","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":16347,"post_author":"15","post_date":"2024-04-14 00:03:48","post_date_gmt":"2024-04-13 14:03:48","post_content":"\n

Bitfinex Securities El Salvador is initiating a tokenized debt offering to fund the development of a Hampton by Hilton hotel complex spanning 4,484 square meters at El Salvador International Airport.<\/p>\n\n\n\n

In January, Bitfinex Securities<\/a> became the inaugural regulated entity to obtain a license to operate in El Salvador under the country\u2019s newly enacted Digital Asset Securities Law. This move anticipated a surge in demand for regulated investment vehicles, following the successful introduction of U.S. spot bitcoin exchange-traded funds.<\/p>\n\n\n\n

At the time, the tokenized securities platform announced its acceptance of customer applications and outlined a pipeline of potential financial asset issuances projected to launch in the year's first half.<\/p>\n\n\n\n

The tokenized debt, issued by El Salvadoran firm Inversiones Laguardia S.A. de C.V., is poised to be the inaugural token to trade on the platform. Utilizing the Liquid Network, a Bitcoin sidechain, the token will be denoted as HILSV and traded against U.S. dollars and Tether\u2019s USDT stablecoin.<\/p>\n\n\n\n

See Related: <\/em><\/strong>El Salvador Businesses Barely Impacted By Bitcoins Legality<\/a><\/p>\n\n\n\n

El Salvador Leads The Way<\/h2>\n\n\n\n


El Salvador stands at the forefront of cryptocurrency adoption wherein Bitcoin is recognized as legal tender. Since June 2021, it has been the first country to embrace Bitcoin alongside the US dollar for everyday transactions, making significant strides in the global crypto landscape. <\/p>\n\n\n\n

Under President Nayib Bukele, the government has initiated a groundbreaking project, where the state purchases one Bitcoin daily to bolster its reserves. <\/p>\n","post_title":"Bitfinex Securities Launches Tokenized Debt Offering For A Hotel In El Salvador","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"bitfinex-securities-launches-tokenized-debt-offering-for-a-hotel-in-el-salvador","to_ping":"","pinged":"","post_modified":"2024-04-14 00:03:52","post_modified_gmt":"2024-04-13 14:03:52","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16347","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 … 4 5 6 7 8 … 20

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

But Vanguard's Not A Bitcoin Lover<\/h2>\n\n\n\n

Vanguard has taken a different stance. In January, Bitcoin investors were surprised to find that Vanguard did not list Bitcoin spot ETFs from providers like BlackRock and Fidelity, citing inconsistencies with its \"investment philosophy.\"<\/p>\n\n\n\n

Balchunas pointed out that Vanguard inherited John Bogle's philosophy, favoring assets with intrinsic cash flow over commodities like BTC. In 2017, Bogle advised investors to \"avoid Bitcoin like the plague.\"<\/em><\/p>\n\n\n\n

\"Bitcoin is too volatile and not a store of value. It hasn't been, and it's very volatile,\"<\/em> Buckley said in a March interview. \"It's tough to see how it fits into a long-term portfolio.\"<\/em><\/p>\n\n\n\n

After over three decades at Vanguard, Buckley announced in February that he would retire by the end of the year, shortly after the Bitcoin ETFs went live. Many investors believed the timing was significant, suggesting Vanguard regretted missing out on the most successful ETF launch in history.<\/p>\n\n\n\n

\"I still think it's unlikely that this means Vanguard will launch a Bitcoin ETF (at least in the near term),\" <\/em>tweeted Bloomberg Intelligence's James Seyffart on Tuesday. \"But I think Salim could change Vanguard\u2019s stance on allowing their clients to buy spot Bitcoin ETFs on their brokerage platform.\"<\/em><\/p>\n","post_title":"Vanguard Hires Bitcoin Advocate Salim Ramji As New CEO","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"vanguard-hires-bitcoin-advocate-salim-ramji-as-new-ceo","to_ping":"","pinged":"","post_modified":"2024-05-18 23:22:16","post_modified_gmt":"2024-05-18 13:22:16","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16932","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":16843,"post_author":"15","post_date":"2024-05-13 00:31:20","post_date_gmt":"2024-05-12 14:31:20","post_content":"\n

Former U.S. President Donald Trump expressed his intention to enable the use of cryptocurrency for campaign donations. In videos <\/a>shared by NFT creator and influencer Frank Degods, Trump indicated to a group of NFT buyers his willingness to accept crypto donations for his campaign.<\/p>\n\n\n\n

He assured, \"If you can't, I'll make sure you can.\"<\/em> Additionally, he suggested that President Joe Biden lacks an understanding of cryptocurrency and urged crypto supporters to vote for him.<\/p>\n\n\n\n

Trump's remarks were made during a gathering he organized to meet with buyers of his \"Mugshot Edition\" NFTs. Attendees, who individually purchased over 47 NFTs priced at $99 each, were invited to a dinner on their day off from trial. Trump boasted about revitalizing interest in NFTs, stating, \"We made NFTs hot again.\"<\/p>\n\n\n\n

Regarding the crypto industry's presence in the U.S., Trump pledged to work towards retaining it, emphasizing the importance of embracing crypto businesses. His statements led to an 18.5% surge in the \"Jeo Boden\" memecoin, inspired by President Biden, according to CoinMarketCap data<\/a>. Trump expressed skepticism about the token's market capitalization, deeming it excessive.<\/p>\n\n\n\n

See Related: <\/em><\/strong>Trump Drops Series 2 Of Digital Trading Card NFTs On Polygon<\/a><\/p>\n\n\n\n

U.S. Presidency Candidates And Their Stance On Crypto<\/h2>\n\n\n\n

As the 2024 U.S. presidential election nears, candidates face scrutiny over their stance on cryptocurrency regulation. Republican nominee and former President Donald Trump has shown enthusiasm. <\/p>\n\n\n\n

On the other hand, the Democratic nominee emphasizes balanced regulation to safeguard consumers and curb illegal activities, reflecting broader party sentiments. However, within each party, there's a range of views, from advocating for stringent oversight to promoting innovation. With crypto's increasing impact across sectors, including finance and technology, the candidates' positions are poised to shape the industry's future and its interaction with the government.<\/p>\n","post_title":"Trump Pledges To Accept Cryptocurrency For Campaign Donations","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"trump-pledges-to-accept-cryptocurrency-for-campaign-donations","to_ping":"","pinged":"","post_modified":"2024-05-13 00:31:26","post_modified_gmt":"2024-05-12 14:31:26","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16843","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":16856,"post_author":"15","post_date":"2024-05-12 20:19:19","post_date_gmt":"2024-05-12 10:19:19","post_content":"\n

Wells Fargo, a prominent American bank, revealed its investments in several Bitcoin exchange-traded funds (ETFs) in a recent regulatory filing. This move aligns Wells Fargo with other institutions embracing crypto-based investment vehicles. <\/p>\n\n\n\n

According to the filing <\/a>with the U.S. Securities and Exchange Commission (SEC), the bank has purchased shares of Grayscale's GBTC spot Bitcoin ETF and has exposure to Bitcoin Depot Inc., a Bitcoin ATM provider. Additionally, the filing shows that Wells Fargo has invested in the ProShares Bitcoin Strategy ETF (BITO), which offers investors exposure to BTC futures\u2014contracts speculating on the future price of the asset.<\/p>\n\n\n\n

Despite these investments, Wells Fargo's exposure to Bitcoin ETFs remains relatively small. The filing indicates that its investment in GBTC amounts to $141,817, while its investment in ProShares is under $1,200. The exposure to Bitcoin Depot stands at just $99.<\/p>\n\n\n\n

This disclosure comes after a report in February suggested that Wells Fargo, along with Bank of America's Merrill division, was providing its wealth management clients with exposure to Bitcoin ETFs via brokerage accounts. Wells Fargo has shown repeated interest in digital assets and even piloted its digital currency back in 2019.<\/p>\n\n\n\n

See Related:<\/em><\/strong> Bitcoin ETFs Hit Mainstream: BofA\u2019s Merrill, Wells Fargo Now Offer Spot Trading<\/a><\/p>\n\n\n\n

Bitcoin spot ETF era<\/h2>\n\n\n\n

The SEC's approval of 11 spot BTC ETFs in January has led to significant success for these products. This success mirrors the soaring price of Bitcoin, which reached an all-time high of $73,747 in March. The Bitcoin spot ETF issuers now hold 847,427 BTC which is at $50 billion at the time of writing. <\/p>\n\n\n\n

Hong Kong recently approved and started trading Bitcoin and Ethereum spot ETF. <\/p>\n","post_title":"Wells Fargo Dips Toes Into Crypto With Bitcoin ETF Investments","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"wells-fargo-dips-toes-into-crypto-with-bitcoin-etf-investments","to_ping":"","pinged":"","post_modified":"2024-05-12 20:19:23","post_modified_gmt":"2024-05-12 10:19:23","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16856","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":16761,"post_author":"15","post_date":"2024-05-06 23:24:50","post_date_gmt":"2024-05-06 13:24:50","post_content":"\n

The Grayscale Bitcoin Trust ETF ($GBTC) recently experienced a shift in its financial trend. It registers an inflow of $63 million and breaks an 11-week rally of net losses according to the Farside Investors<\/a>.<\/p>\n\n\n\n

\"Bitcoin
Since the inception of Bitcoin spot ETF in the U.S., GBTC has recorded outflows every single trading day.<\/figcaption><\/figure>\n\n\n\n

Bloomberg ETF analyst Eric Balchunas expressed his surprise<\/a> on Twitter, stating, \"Holy crap $GBTC had inflows today,\" and noted that their nearly 80-day streak of outflows had ended. He humorously remarked on the significance of this change, asking his followers to rate how significant this turnaround was for GBTC.<\/p>\n\n\n\n

Despite these challenges, GBTC remains the largest Bitcoin spot ETF, managing over $18.7 billion in assets and holding approximately 297,000 Bitcoin. However, consistent withdrawals have allowed new entrants like the BlackRock iShares Bitcoin Trust (IBIT), which now has $17.2 billion in assets, to narrow the gap.<\/p>\n\n\n\n

This news comes shortly after a downturn for IBIT, which saw a reduction of $37 million just a day earlier, as per Farside Investors. This event was part of a broader trend that saw the ETF market experience its worst day ever, with a total outflow of $563 million amid a decline in Bitcoin prices.<\/p>\n\n\n\n

See Related:<\/em><\/strong> GBTC Price Prediction after Judges Raised Hope for Investors In Favour Of Grayscale<\/a><\/p>\n\n\n\n

Bitcoin ETF in Asia<\/h2>\n\n\n\n

Hong Kong has recently made strides in the cryptocurrency market with the introduction of spot exchange-traded funds (ETFs) for Bitcoin and Ethereum. This development reflects Hong Kong's growing embrace of digital currencies and its ambition to become a major hub for cryptocurrency trading and finance. <\/p>\n\n\n\n

The trading started last April 30 and shows $12 million in trading volume on its first day. Bitcoin spot ETF recorded a $8.5 million and Ethereum spot ETF $2.5 million in trading volume. <\/p>\n","post_title":"Grayscale Bitcoin Trust Rebounds With $63 Million Influx After 80-Day Drought","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"grayscale-bitcoin-trust-rebounds-with-63-million-influx-after-80-day-drought","to_ping":"","pinged":"","post_modified":"2024-05-06 23:24:54","post_modified_gmt":"2024-05-06 13:24:54","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16761","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":16722,"post_author":"15","post_date":"2024-05-04 02:07:14","post_date_gmt":"2024-05-03 16:07:14","post_content":"\n

Elliptic, a blockchain analysis firm, released a study <\/a>conducted with the MIT-IBM Watson AI Lab on Wednesday. This study utilized a deep learning AI model to identify money laundering patterns within Bitcoin transactions and pinpoint wallets involved in criminal activities.<\/p>\n\n\n\n

Bitcoin's use of a decentralized public ledger, a fundamental aspect of the technology, facilitated the research, according to Elliptic. The collaboration between Elliptic and MIT-IBM leveraged AI to distinguish between legal and illegal transactions, tracking connections within the latter to expose potential money laundering activities.<\/p>\n\n\n\n

Elliptic stated, \u201cBlockchains provide fertile ground for machine learning techniques, thanks to the availability of both transaction data and information on the types of entities that are transacting, collected by us and others. This is in contrast to traditional finance where transaction data is typically siloed, making it challenging to apply these techniques.\u201d<\/em><\/p>\n\n\n\n

Elliptic clarified that instead of directly identifying transactions by illicit actors, the machine learning model is trained to recognize 'subgraphs'\u2014sequences of transactions that depict the laundering of Bitcoin. This method focuses more broadly on the multi-step laundering process rather than specific illegal actions on the blockchain.<\/p>\n\n\n\n

See Related:<\/em><\/strong> Binance's $3.9 Billion USDT Transfer Sparks Speculation Amidst CEO's Guilty Plea<\/a><\/p>\n\n\n\n

Money Laundering in 2024 Reports<\/h2>\n\n\n\n

In 2023, the volume of cryptocurrency involved in money laundering activities decreased significantly, with centralized exchanges continuing as the primary channels for such transactions. DeFi protocols and gambling services saw an uptick in use for laundering, yet they generally lack the anonymity preferred by launderers.<\/p>\n\n\n\n

Sophisticated criminals, particularly North Korea's Lazarus Group, adapted to law enforcement tactics by employing new mixers and utilizing cross-chain bridges to launder funds. These methods allow them to obfuscate the origins of illicit funds more effectively across multiple blockchain platforms, demonstrating a dynamic shift in the techniques used by high-level criminal enterprises to evade detection.<\/p>\n","post_title":"AI Powers New Tool To Detect Illegal Bitcoin Transactions, Study Shows","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"ai-powers-new-tool-to-detect-illegal-bitcoin-transactions-study-shows","to_ping":"","pinged":"","post_modified":"2024-05-04 02:07:20","post_modified_gmt":"2024-05-03 16:07:20","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16722","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":16491,"post_author":"15","post_date":"2024-04-21 10:09:53","post_date_gmt":"2024-04-21 00:09:53","post_content":"\n

Entrepreneur and Dallas Mavericks owner Mark Cuban recently discussed the implications of the upcoming Bitcoin halving. He emphasized its significant impact on miner revenues.<\/p>\n\n\n\n

During an interview <\/a>with The Block, Cuban pointed out that the halving will reduce mining rewards from 6.25 BTC to 3.125 BTC, effectively slashing the income for bitcoin miners by nearly half. However, Cuban expressed greater curiosity about the role artificial intelligence (AI) might play in the mining sector, especially concerning the demand for GPUs.<\/p>\n\n\n\n

Cuban highlighted the intense competition between AI's needs for GPUs and cryptocurrency mining's demands. He questioned whether the economic landscape of mining could be altered by the booming AI industry, asking if it might be more profitable to utilize GPUs for AI model training rather than mining. This issue primarily affects miners using GPUs for cryptocurrencies other than Bitcoin, which typically relies on ASIC machines.<\/p>\n\n\n\n

The intersection of AI and cryptocurrency mining is already seeing practical applications, with companies like Xive and Hive Digital Technologies expanding into AI to bolster their primary mining operations. <\/p>\n\n\n\n

See Related:<\/em><\/strong> Cryptocurrency Statistics And Insights (2022)<\/a><\/p>\n\n\n\n

Bitcoin Halving is Coming<\/h2>\n\n\n\n

Bitcoin halving is a significant event in the cryptocurrency world that occurs approximately every four years, or after 210,000 blocks are mined. During a halving, bitcoin miners' reward for verifying transactions and adding them to the blockchain is reduced by half. This mechanism was designed by Satoshi Nakamoto, the anonymous creator of Bitcoin, to control inflation by limiting the total number of bitcoins that can ever be in circulation to 21 million.<\/p>\n\n\n\n

As of writing, the price of Bitcoin is at $63,760, and 2 blocks remaining until the next Bitcoin halving.<\/p>\n","post_title":"Bitcoin Halving To Slash Miner Earnings, Cuban Eyes AI Shift","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"bitcoin-halving-to-slash-miner-earnings-cuban-eyes-ai-shift","to_ping":"","pinged":"","post_modified":"2024-04-21 10:10:00","post_modified_gmt":"2024-04-21 00:10:00","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16491","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":16460,"post_author":"15","post_date":"2024-04-19 23:38:06","post_date_gmt":"2024-04-19 13:38:06","post_content":"\n

Binance, the leading global cryptocurrency exchange, is set to make a comeback in India after agreeing to pay a $2 million penalty. This development follows a period of stringent regulatory scrutiny where the Indian government blocked nine cryptocurrency websites. They also prompted the removal of related apps from Apple and Google stores due to non-compliance with local laws. <\/p>\n\n\n\n

According to the Economic Times<\/a>, sources close to the matter indicate that Binance is restructuring its operations in South Asia. The cryptocurrency exchange is planning to fully comply with the Financial Intelligence Unit of India, which regulates the local trading of digital assets.<\/p>\n\n\n\n

The move comes as part of Binance's efforts to align with India's financial regulations, including adherence to anti-money laundering and taxation statutes. Before the crackdown, Binance held a commanding presence in the Indian market, with an estimated 90% of crypto holdings among Indian investors, totaling about $4 billion.<\/p>\n\n\n\n

See Related:<\/em><\/strong> Indian Parliament Passes A 30% Crypto Tax Law<\/a><\/p>\n\n\n\n

Nigeria Detains Binance Executives<\/h2>\n\n\n\n

Two months ago, Nigeria detained two executives of the Binance after they flew into the country. The country's Office of the National Security Adviser detained the two, and their passports were seized. <\/p>\n\n\n\n

Nigerian officials have leveled several charges against the cryptocurrency exchange Binance. The allegation includes exploiting the local economy, contributing to the devaluation of the Nigerian naira, and engaging in money laundering activities. They allege that Binance has been involved in manipulating the exchange rates by engaging in speculative actions and fixing rates. Furthermore, the Nigerian government has expressed concerns over $26 billion in transactions carried out on Binance's platform, which they report as being untraceable.<\/p>\n\n\n\n

Binance has denied any wrongdoing, but this is not the first time it has bumped heads with regulators.<\/p>\n","post_title":"Binance Set To Re-enter Indian Market with $2 Million Fine Settlement","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"binance-set-to-re-enter-indian-market-with-2-million-fine-settlement","to_ping":"","pinged":"","post_modified":"2024-04-20 04:11:08","post_modified_gmt":"2024-04-19 18:11:08","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16460","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":16362,"post_author":"15","post_date":"2024-04-15 03:52:59","post_date_gmt":"2024-04-14 17:52:59","post_content":"\n

Hong Kong is on the brink of approving spot exchange-traded funds (ETFs) for bitcoin and ether, potentially by Monday, Bloomberg reports<\/a>. This anticipated approval is poised to influence the cryptocurrency markets in the near term. The ETFs, if launched, will enable investors to trade bitcoin and ether on regulated platforms, enhancing the legitimacy and stability of investing in cryptocurrencies.<\/p>\n\n\n\n

Bloomberg\u2019s sources suggest that if the Hong Kong Exchanges & Clearing can finalize the listing details promptly, trading could commence by the end of April. Harvest Global Investments and Bosera Asset Management, in collaboration with HashKey Capital, are frontrunners in receiving the first approvals for these spot cryptocurrency ETFs. This move could cement Hong Kong's position as a major hub for digital assets in Asia, particularly if it leads to a successful market response similar to the U.S., where the approval of bitcoin ETFs in January triggered a price rally, pushing bitcoin\u2019s value to $73,000.<\/p>\n\n\n\n

However, unlike in the U.S., where ether ETFs have not yet been approved, Hong Kong might take the lead in this area as well. The city's market regulator, the Securities and Futures Commission (SFC), has not commented on the developments. Similarly, inquiries to Harvest Global Investments, Bosera Asset Management, HashKey Capital, and HKEX received no immediate response.<\/p>\n\n\n\n

See Related: <\/em><\/strong>Hong Kong Invests Over $6.4M Into Web 3 Development<\/a><\/p>\n\n\n\n

Ether ETF Update<\/h2>\n\n\n\n

The U.S. Securities and Exchange Commission (SEC) has once again delayed its decision on the application for an Ether ETF. A new deadline is set for May 23<\/a>.<\/p>\n\n\n\n

Despite this, analysts remain cautiously optimistic, estimating a 60% chance<\/a> of eventual approval. These delays and the ongoing review process indicate that the SEC is maintaining a cautious approach towards the approval of Ether ETFs. It reflects the complexities involved in integrating such products into the financial system.<\/p>\n","post_title":"Hong Kong Set to Approve Bitcoin And Ether ETFs By Monday","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"hong-kong-set-to-approve-bitcoin-and-ether-etfs-by-monday","to_ping":"","pinged":"","post_modified":"2024-04-15 03:53:05","post_modified_gmt":"2024-04-14 17:53:05","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16362","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":16347,"post_author":"15","post_date":"2024-04-14 00:03:48","post_date_gmt":"2024-04-13 14:03:48","post_content":"\n

Bitfinex Securities El Salvador is initiating a tokenized debt offering to fund the development of a Hampton by Hilton hotel complex spanning 4,484 square meters at El Salvador International Airport.<\/p>\n\n\n\n

In January, Bitfinex Securities<\/a> became the inaugural regulated entity to obtain a license to operate in El Salvador under the country\u2019s newly enacted Digital Asset Securities Law. This move anticipated a surge in demand for regulated investment vehicles, following the successful introduction of U.S. spot bitcoin exchange-traded funds.<\/p>\n\n\n\n

At the time, the tokenized securities platform announced its acceptance of customer applications and outlined a pipeline of potential financial asset issuances projected to launch in the year's first half.<\/p>\n\n\n\n

The tokenized debt, issued by El Salvadoran firm Inversiones Laguardia S.A. de C.V., is poised to be the inaugural token to trade on the platform. Utilizing the Liquid Network, a Bitcoin sidechain, the token will be denoted as HILSV and traded against U.S. dollars and Tether\u2019s USDT stablecoin.<\/p>\n\n\n\n

See Related: <\/em><\/strong>El Salvador Businesses Barely Impacted By Bitcoins Legality<\/a><\/p>\n\n\n\n

El Salvador Leads The Way<\/h2>\n\n\n\n


El Salvador stands at the forefront of cryptocurrency adoption wherein Bitcoin is recognized as legal tender. Since June 2021, it has been the first country to embrace Bitcoin alongside the US dollar for everyday transactions, making significant strides in the global crypto landscape. <\/p>\n\n\n\n

Under President Nayib Bukele, the government has initiated a groundbreaking project, where the state purchases one Bitcoin daily to bolster its reserves. <\/p>\n","post_title":"Bitfinex Securities Launches Tokenized Debt Offering For A Hotel In El Salvador","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"bitfinex-securities-launches-tokenized-debt-offering-for-a-hotel-in-el-salvador","to_ping":"","pinged":"","post_modified":"2024-04-14 00:03:52","post_modified_gmt":"2024-04-13 14:03:52","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16347","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

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See Related:<\/em><\/strong> SandStorm Launches On-Demand Metaverse Builds with 5 Virtual World Partners<\/a><\/p>\n\n\n\n

But Vanguard's Not A Bitcoin Lover<\/h2>\n\n\n\n

Vanguard has taken a different stance. In January, Bitcoin investors were surprised to find that Vanguard did not list Bitcoin spot ETFs from providers like BlackRock and Fidelity, citing inconsistencies with its \"investment philosophy.\"<\/p>\n\n\n\n

Balchunas pointed out that Vanguard inherited John Bogle's philosophy, favoring assets with intrinsic cash flow over commodities like BTC. In 2017, Bogle advised investors to \"avoid Bitcoin like the plague.\"<\/em><\/p>\n\n\n\n

\"Bitcoin is too volatile and not a store of value. It hasn't been, and it's very volatile,\"<\/em> Buckley said in a March interview. \"It's tough to see how it fits into a long-term portfolio.\"<\/em><\/p>\n\n\n\n

After over three decades at Vanguard, Buckley announced in February that he would retire by the end of the year, shortly after the Bitcoin ETFs went live. Many investors believed the timing was significant, suggesting Vanguard regretted missing out on the most successful ETF launch in history.<\/p>\n\n\n\n

\"I still think it's unlikely that this means Vanguard will launch a Bitcoin ETF (at least in the near term),\" <\/em>tweeted Bloomberg Intelligence's James Seyffart on Tuesday. \"But I think Salim could change Vanguard\u2019s stance on allowing their clients to buy spot Bitcoin ETFs on their brokerage platform.\"<\/em><\/p>\n","post_title":"Vanguard Hires Bitcoin Advocate Salim Ramji As New CEO","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"vanguard-hires-bitcoin-advocate-salim-ramji-as-new-ceo","to_ping":"","pinged":"","post_modified":"2024-05-18 23:22:16","post_modified_gmt":"2024-05-18 13:22:16","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16932","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":16843,"post_author":"15","post_date":"2024-05-13 00:31:20","post_date_gmt":"2024-05-12 14:31:20","post_content":"\n

Former U.S. President Donald Trump expressed his intention to enable the use of cryptocurrency for campaign donations. In videos <\/a>shared by NFT creator and influencer Frank Degods, Trump indicated to a group of NFT buyers his willingness to accept crypto donations for his campaign.<\/p>\n\n\n\n

He assured, \"If you can't, I'll make sure you can.\"<\/em> Additionally, he suggested that President Joe Biden lacks an understanding of cryptocurrency and urged crypto supporters to vote for him.<\/p>\n\n\n\n

Trump's remarks were made during a gathering he organized to meet with buyers of his \"Mugshot Edition\" NFTs. Attendees, who individually purchased over 47 NFTs priced at $99 each, were invited to a dinner on their day off from trial. Trump boasted about revitalizing interest in NFTs, stating, \"We made NFTs hot again.\"<\/p>\n\n\n\n

Regarding the crypto industry's presence in the U.S., Trump pledged to work towards retaining it, emphasizing the importance of embracing crypto businesses. His statements led to an 18.5% surge in the \"Jeo Boden\" memecoin, inspired by President Biden, according to CoinMarketCap data<\/a>. Trump expressed skepticism about the token's market capitalization, deeming it excessive.<\/p>\n\n\n\n

See Related: <\/em><\/strong>Trump Drops Series 2 Of Digital Trading Card NFTs On Polygon<\/a><\/p>\n\n\n\n

U.S. Presidency Candidates And Their Stance On Crypto<\/h2>\n\n\n\n

As the 2024 U.S. presidential election nears, candidates face scrutiny over their stance on cryptocurrency regulation. Republican nominee and former President Donald Trump has shown enthusiasm. <\/p>\n\n\n\n

On the other hand, the Democratic nominee emphasizes balanced regulation to safeguard consumers and curb illegal activities, reflecting broader party sentiments. However, within each party, there's a range of views, from advocating for stringent oversight to promoting innovation. With crypto's increasing impact across sectors, including finance and technology, the candidates' positions are poised to shape the industry's future and its interaction with the government.<\/p>\n","post_title":"Trump Pledges To Accept Cryptocurrency For Campaign Donations","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"trump-pledges-to-accept-cryptocurrency-for-campaign-donations","to_ping":"","pinged":"","post_modified":"2024-05-13 00:31:26","post_modified_gmt":"2024-05-12 14:31:26","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16843","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":16856,"post_author":"15","post_date":"2024-05-12 20:19:19","post_date_gmt":"2024-05-12 10:19:19","post_content":"\n

Wells Fargo, a prominent American bank, revealed its investments in several Bitcoin exchange-traded funds (ETFs) in a recent regulatory filing. This move aligns Wells Fargo with other institutions embracing crypto-based investment vehicles. <\/p>\n\n\n\n

According to the filing <\/a>with the U.S. Securities and Exchange Commission (SEC), the bank has purchased shares of Grayscale's GBTC spot Bitcoin ETF and has exposure to Bitcoin Depot Inc., a Bitcoin ATM provider. Additionally, the filing shows that Wells Fargo has invested in the ProShares Bitcoin Strategy ETF (BITO), which offers investors exposure to BTC futures\u2014contracts speculating on the future price of the asset.<\/p>\n\n\n\n

Despite these investments, Wells Fargo's exposure to Bitcoin ETFs remains relatively small. The filing indicates that its investment in GBTC amounts to $141,817, while its investment in ProShares is under $1,200. The exposure to Bitcoin Depot stands at just $99.<\/p>\n\n\n\n

This disclosure comes after a report in February suggested that Wells Fargo, along with Bank of America's Merrill division, was providing its wealth management clients with exposure to Bitcoin ETFs via brokerage accounts. Wells Fargo has shown repeated interest in digital assets and even piloted its digital currency back in 2019.<\/p>\n\n\n\n

See Related:<\/em><\/strong> Bitcoin ETFs Hit Mainstream: BofA\u2019s Merrill, Wells Fargo Now Offer Spot Trading<\/a><\/p>\n\n\n\n

Bitcoin spot ETF era<\/h2>\n\n\n\n

The SEC's approval of 11 spot BTC ETFs in January has led to significant success for these products. This success mirrors the soaring price of Bitcoin, which reached an all-time high of $73,747 in March. The Bitcoin spot ETF issuers now hold 847,427 BTC which is at $50 billion at the time of writing. <\/p>\n\n\n\n

Hong Kong recently approved and started trading Bitcoin and Ethereum spot ETF. <\/p>\n","post_title":"Wells Fargo Dips Toes Into Crypto With Bitcoin ETF Investments","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"wells-fargo-dips-toes-into-crypto-with-bitcoin-etf-investments","to_ping":"","pinged":"","post_modified":"2024-05-12 20:19:23","post_modified_gmt":"2024-05-12 10:19:23","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16856","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":16761,"post_author":"15","post_date":"2024-05-06 23:24:50","post_date_gmt":"2024-05-06 13:24:50","post_content":"\n

The Grayscale Bitcoin Trust ETF ($GBTC) recently experienced a shift in its financial trend. It registers an inflow of $63 million and breaks an 11-week rally of net losses according to the Farside Investors<\/a>.<\/p>\n\n\n\n

\"Bitcoin
Since the inception of Bitcoin spot ETF in the U.S., GBTC has recorded outflows every single trading day.<\/figcaption><\/figure>\n\n\n\n

Bloomberg ETF analyst Eric Balchunas expressed his surprise<\/a> on Twitter, stating, \"Holy crap $GBTC had inflows today,\" and noted that their nearly 80-day streak of outflows had ended. He humorously remarked on the significance of this change, asking his followers to rate how significant this turnaround was for GBTC.<\/p>\n\n\n\n

Despite these challenges, GBTC remains the largest Bitcoin spot ETF, managing over $18.7 billion in assets and holding approximately 297,000 Bitcoin. However, consistent withdrawals have allowed new entrants like the BlackRock iShares Bitcoin Trust (IBIT), which now has $17.2 billion in assets, to narrow the gap.<\/p>\n\n\n\n

This news comes shortly after a downturn for IBIT, which saw a reduction of $37 million just a day earlier, as per Farside Investors. This event was part of a broader trend that saw the ETF market experience its worst day ever, with a total outflow of $563 million amid a decline in Bitcoin prices.<\/p>\n\n\n\n

See Related:<\/em><\/strong> GBTC Price Prediction after Judges Raised Hope for Investors In Favour Of Grayscale<\/a><\/p>\n\n\n\n

Bitcoin ETF in Asia<\/h2>\n\n\n\n

Hong Kong has recently made strides in the cryptocurrency market with the introduction of spot exchange-traded funds (ETFs) for Bitcoin and Ethereum. This development reflects Hong Kong's growing embrace of digital currencies and its ambition to become a major hub for cryptocurrency trading and finance. <\/p>\n\n\n\n

The trading started last April 30 and shows $12 million in trading volume on its first day. Bitcoin spot ETF recorded a $8.5 million and Ethereum spot ETF $2.5 million in trading volume. <\/p>\n","post_title":"Grayscale Bitcoin Trust Rebounds With $63 Million Influx After 80-Day Drought","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"grayscale-bitcoin-trust-rebounds-with-63-million-influx-after-80-day-drought","to_ping":"","pinged":"","post_modified":"2024-05-06 23:24:54","post_modified_gmt":"2024-05-06 13:24:54","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16761","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":16722,"post_author":"15","post_date":"2024-05-04 02:07:14","post_date_gmt":"2024-05-03 16:07:14","post_content":"\n

Elliptic, a blockchain analysis firm, released a study <\/a>conducted with the MIT-IBM Watson AI Lab on Wednesday. This study utilized a deep learning AI model to identify money laundering patterns within Bitcoin transactions and pinpoint wallets involved in criminal activities.<\/p>\n\n\n\n

Bitcoin's use of a decentralized public ledger, a fundamental aspect of the technology, facilitated the research, according to Elliptic. The collaboration between Elliptic and MIT-IBM leveraged AI to distinguish between legal and illegal transactions, tracking connections within the latter to expose potential money laundering activities.<\/p>\n\n\n\n

Elliptic stated, \u201cBlockchains provide fertile ground for machine learning techniques, thanks to the availability of both transaction data and information on the types of entities that are transacting, collected by us and others. This is in contrast to traditional finance where transaction data is typically siloed, making it challenging to apply these techniques.\u201d<\/em><\/p>\n\n\n\n

Elliptic clarified that instead of directly identifying transactions by illicit actors, the machine learning model is trained to recognize 'subgraphs'\u2014sequences of transactions that depict the laundering of Bitcoin. This method focuses more broadly on the multi-step laundering process rather than specific illegal actions on the blockchain.<\/p>\n\n\n\n

See Related:<\/em><\/strong> Binance's $3.9 Billion USDT Transfer Sparks Speculation Amidst CEO's Guilty Plea<\/a><\/p>\n\n\n\n

Money Laundering in 2024 Reports<\/h2>\n\n\n\n

In 2023, the volume of cryptocurrency involved in money laundering activities decreased significantly, with centralized exchanges continuing as the primary channels for such transactions. DeFi protocols and gambling services saw an uptick in use for laundering, yet they generally lack the anonymity preferred by launderers.<\/p>\n\n\n\n

Sophisticated criminals, particularly North Korea's Lazarus Group, adapted to law enforcement tactics by employing new mixers and utilizing cross-chain bridges to launder funds. These methods allow them to obfuscate the origins of illicit funds more effectively across multiple blockchain platforms, demonstrating a dynamic shift in the techniques used by high-level criminal enterprises to evade detection.<\/p>\n","post_title":"AI Powers New Tool To Detect Illegal Bitcoin Transactions, Study Shows","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"ai-powers-new-tool-to-detect-illegal-bitcoin-transactions-study-shows","to_ping":"","pinged":"","post_modified":"2024-05-04 02:07:20","post_modified_gmt":"2024-05-03 16:07:20","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16722","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":16491,"post_author":"15","post_date":"2024-04-21 10:09:53","post_date_gmt":"2024-04-21 00:09:53","post_content":"\n

Entrepreneur and Dallas Mavericks owner Mark Cuban recently discussed the implications of the upcoming Bitcoin halving. He emphasized its significant impact on miner revenues.<\/p>\n\n\n\n

During an interview <\/a>with The Block, Cuban pointed out that the halving will reduce mining rewards from 6.25 BTC to 3.125 BTC, effectively slashing the income for bitcoin miners by nearly half. However, Cuban expressed greater curiosity about the role artificial intelligence (AI) might play in the mining sector, especially concerning the demand for GPUs.<\/p>\n\n\n\n

Cuban highlighted the intense competition between AI's needs for GPUs and cryptocurrency mining's demands. He questioned whether the economic landscape of mining could be altered by the booming AI industry, asking if it might be more profitable to utilize GPUs for AI model training rather than mining. This issue primarily affects miners using GPUs for cryptocurrencies other than Bitcoin, which typically relies on ASIC machines.<\/p>\n\n\n\n

The intersection of AI and cryptocurrency mining is already seeing practical applications, with companies like Xive and Hive Digital Technologies expanding into AI to bolster their primary mining operations. <\/p>\n\n\n\n

See Related:<\/em><\/strong> Cryptocurrency Statistics And Insights (2022)<\/a><\/p>\n\n\n\n

Bitcoin Halving is Coming<\/h2>\n\n\n\n

Bitcoin halving is a significant event in the cryptocurrency world that occurs approximately every four years, or after 210,000 blocks are mined. During a halving, bitcoin miners' reward for verifying transactions and adding them to the blockchain is reduced by half. This mechanism was designed by Satoshi Nakamoto, the anonymous creator of Bitcoin, to control inflation by limiting the total number of bitcoins that can ever be in circulation to 21 million.<\/p>\n\n\n\n

As of writing, the price of Bitcoin is at $63,760, and 2 blocks remaining until the next Bitcoin halving.<\/p>\n","post_title":"Bitcoin Halving To Slash Miner Earnings, Cuban Eyes AI Shift","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"bitcoin-halving-to-slash-miner-earnings-cuban-eyes-ai-shift","to_ping":"","pinged":"","post_modified":"2024-04-21 10:10:00","post_modified_gmt":"2024-04-21 00:10:00","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16491","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":16460,"post_author":"15","post_date":"2024-04-19 23:38:06","post_date_gmt":"2024-04-19 13:38:06","post_content":"\n

Binance, the leading global cryptocurrency exchange, is set to make a comeback in India after agreeing to pay a $2 million penalty. This development follows a period of stringent regulatory scrutiny where the Indian government blocked nine cryptocurrency websites. They also prompted the removal of related apps from Apple and Google stores due to non-compliance with local laws. <\/p>\n\n\n\n

According to the Economic Times<\/a>, sources close to the matter indicate that Binance is restructuring its operations in South Asia. The cryptocurrency exchange is planning to fully comply with the Financial Intelligence Unit of India, which regulates the local trading of digital assets.<\/p>\n\n\n\n

The move comes as part of Binance's efforts to align with India's financial regulations, including adherence to anti-money laundering and taxation statutes. Before the crackdown, Binance held a commanding presence in the Indian market, with an estimated 90% of crypto holdings among Indian investors, totaling about $4 billion.<\/p>\n\n\n\n

See Related:<\/em><\/strong> Indian Parliament Passes A 30% Crypto Tax Law<\/a><\/p>\n\n\n\n

Nigeria Detains Binance Executives<\/h2>\n\n\n\n

Two months ago, Nigeria detained two executives of the Binance after they flew into the country. The country's Office of the National Security Adviser detained the two, and their passports were seized. <\/p>\n\n\n\n

Nigerian officials have leveled several charges against the cryptocurrency exchange Binance. The allegation includes exploiting the local economy, contributing to the devaluation of the Nigerian naira, and engaging in money laundering activities. They allege that Binance has been involved in manipulating the exchange rates by engaging in speculative actions and fixing rates. Furthermore, the Nigerian government has expressed concerns over $26 billion in transactions carried out on Binance's platform, which they report as being untraceable.<\/p>\n\n\n\n

Binance has denied any wrongdoing, but this is not the first time it has bumped heads with regulators.<\/p>\n","post_title":"Binance Set To Re-enter Indian Market with $2 Million Fine Settlement","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"binance-set-to-re-enter-indian-market-with-2-million-fine-settlement","to_ping":"","pinged":"","post_modified":"2024-04-20 04:11:08","post_modified_gmt":"2024-04-19 18:11:08","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16460","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":16362,"post_author":"15","post_date":"2024-04-15 03:52:59","post_date_gmt":"2024-04-14 17:52:59","post_content":"\n

Hong Kong is on the brink of approving spot exchange-traded funds (ETFs) for bitcoin and ether, potentially by Monday, Bloomberg reports<\/a>. This anticipated approval is poised to influence the cryptocurrency markets in the near term. The ETFs, if launched, will enable investors to trade bitcoin and ether on regulated platforms, enhancing the legitimacy and stability of investing in cryptocurrencies.<\/p>\n\n\n\n

Bloomberg\u2019s sources suggest that if the Hong Kong Exchanges & Clearing can finalize the listing details promptly, trading could commence by the end of April. Harvest Global Investments and Bosera Asset Management, in collaboration with HashKey Capital, are frontrunners in receiving the first approvals for these spot cryptocurrency ETFs. This move could cement Hong Kong's position as a major hub for digital assets in Asia, particularly if it leads to a successful market response similar to the U.S., where the approval of bitcoin ETFs in January triggered a price rally, pushing bitcoin\u2019s value to $73,000.<\/p>\n\n\n\n

However, unlike in the U.S., where ether ETFs have not yet been approved, Hong Kong might take the lead in this area as well. The city's market regulator, the Securities and Futures Commission (SFC), has not commented on the developments. Similarly, inquiries to Harvest Global Investments, Bosera Asset Management, HashKey Capital, and HKEX received no immediate response.<\/p>\n\n\n\n

See Related: <\/em><\/strong>Hong Kong Invests Over $6.4M Into Web 3 Development<\/a><\/p>\n\n\n\n

Ether ETF Update<\/h2>\n\n\n\n

The U.S. Securities and Exchange Commission (SEC) has once again delayed its decision on the application for an Ether ETF. A new deadline is set for May 23<\/a>.<\/p>\n\n\n\n

Despite this, analysts remain cautiously optimistic, estimating a 60% chance<\/a> of eventual approval. These delays and the ongoing review process indicate that the SEC is maintaining a cautious approach towards the approval of Ether ETFs. It reflects the complexities involved in integrating such products into the financial system.<\/p>\n","post_title":"Hong Kong Set to Approve Bitcoin And Ether ETFs By Monday","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"hong-kong-set-to-approve-bitcoin-and-ether-etfs-by-monday","to_ping":"","pinged":"","post_modified":"2024-04-15 03:53:05","post_modified_gmt":"2024-04-14 17:53:05","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16362","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":16347,"post_author":"15","post_date":"2024-04-14 00:03:48","post_date_gmt":"2024-04-13 14:03:48","post_content":"\n

Bitfinex Securities El Salvador is initiating a tokenized debt offering to fund the development of a Hampton by Hilton hotel complex spanning 4,484 square meters at El Salvador International Airport.<\/p>\n\n\n\n

In January, Bitfinex Securities<\/a> became the inaugural regulated entity to obtain a license to operate in El Salvador under the country\u2019s newly enacted Digital Asset Securities Law. This move anticipated a surge in demand for regulated investment vehicles, following the successful introduction of U.S. spot bitcoin exchange-traded funds.<\/p>\n\n\n\n

At the time, the tokenized securities platform announced its acceptance of customer applications and outlined a pipeline of potential financial asset issuances projected to launch in the year's first half.<\/p>\n\n\n\n

The tokenized debt, issued by El Salvadoran firm Inversiones Laguardia S.A. de C.V., is poised to be the inaugural token to trade on the platform. Utilizing the Liquid Network, a Bitcoin sidechain, the token will be denoted as HILSV and traded against U.S. dollars and Tether\u2019s USDT stablecoin.<\/p>\n\n\n\n

See Related: <\/em><\/strong>El Salvador Businesses Barely Impacted By Bitcoins Legality<\/a><\/p>\n\n\n\n

El Salvador Leads The Way<\/h2>\n\n\n\n


El Salvador stands at the forefront of cryptocurrency adoption wherein Bitcoin is recognized as legal tender. Since June 2021, it has been the first country to embrace Bitcoin alongside the US dollar for everyday transactions, making significant strides in the global crypto landscape. <\/p>\n\n\n\n

Under President Nayib Bukele, the government has initiated a groundbreaking project, where the state purchases one Bitcoin daily to bolster its reserves. <\/p>\n","post_title":"Bitfinex Securities Launches Tokenized Debt Offering For A Hotel In El Salvador","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"bitfinex-securities-launches-tokenized-debt-offering-for-a-hotel-in-el-salvador","to_ping":"","pinged":"","post_modified":"2024-04-14 00:03:52","post_modified_gmt":"2024-04-13 14:03:52","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16347","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

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\n

Mr. Ramji is a seasoned financial services executive with over 25 years of experience in investments, capital markets, and wealth management. He spent a decade in senior leadership roles at BlackRock Inc., departing in January 2024. Most recently, he served as Global Head of iShares & Index Investing, overseeing the management of the majority of the firm's client assets and enhancing the iShares platform to offer a wider array of innovative, low-cost products for investors worldwide.<\/p>\n\n\n\n

See Related:<\/em><\/strong> SandStorm Launches On-Demand Metaverse Builds with 5 Virtual World Partners<\/a><\/p>\n\n\n\n

But Vanguard's Not A Bitcoin Lover<\/h2>\n\n\n\n

Vanguard has taken a different stance. In January, Bitcoin investors were surprised to find that Vanguard did not list Bitcoin spot ETFs from providers like BlackRock and Fidelity, citing inconsistencies with its \"investment philosophy.\"<\/p>\n\n\n\n

Balchunas pointed out that Vanguard inherited John Bogle's philosophy, favoring assets with intrinsic cash flow over commodities like BTC. In 2017, Bogle advised investors to \"avoid Bitcoin like the plague.\"<\/em><\/p>\n\n\n\n

\"Bitcoin is too volatile and not a store of value. It hasn't been, and it's very volatile,\"<\/em> Buckley said in a March interview. \"It's tough to see how it fits into a long-term portfolio.\"<\/em><\/p>\n\n\n\n

After over three decades at Vanguard, Buckley announced in February that he would retire by the end of the year, shortly after the Bitcoin ETFs went live. Many investors believed the timing was significant, suggesting Vanguard regretted missing out on the most successful ETF launch in history.<\/p>\n\n\n\n

\"I still think it's unlikely that this means Vanguard will launch a Bitcoin ETF (at least in the near term),\" <\/em>tweeted Bloomberg Intelligence's James Seyffart on Tuesday. \"But I think Salim could change Vanguard\u2019s stance on allowing their clients to buy spot Bitcoin ETFs on their brokerage platform.\"<\/em><\/p>\n","post_title":"Vanguard Hires Bitcoin Advocate Salim Ramji As New CEO","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"vanguard-hires-bitcoin-advocate-salim-ramji-as-new-ceo","to_ping":"","pinged":"","post_modified":"2024-05-18 23:22:16","post_modified_gmt":"2024-05-18 13:22:16","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16932","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":16843,"post_author":"15","post_date":"2024-05-13 00:31:20","post_date_gmt":"2024-05-12 14:31:20","post_content":"\n

Former U.S. President Donald Trump expressed his intention to enable the use of cryptocurrency for campaign donations. In videos <\/a>shared by NFT creator and influencer Frank Degods, Trump indicated to a group of NFT buyers his willingness to accept crypto donations for his campaign.<\/p>\n\n\n\n

He assured, \"If you can't, I'll make sure you can.\"<\/em> Additionally, he suggested that President Joe Biden lacks an understanding of cryptocurrency and urged crypto supporters to vote for him.<\/p>\n\n\n\n

Trump's remarks were made during a gathering he organized to meet with buyers of his \"Mugshot Edition\" NFTs. Attendees, who individually purchased over 47 NFTs priced at $99 each, were invited to a dinner on their day off from trial. Trump boasted about revitalizing interest in NFTs, stating, \"We made NFTs hot again.\"<\/p>\n\n\n\n

Regarding the crypto industry's presence in the U.S., Trump pledged to work towards retaining it, emphasizing the importance of embracing crypto businesses. His statements led to an 18.5% surge in the \"Jeo Boden\" memecoin, inspired by President Biden, according to CoinMarketCap data<\/a>. Trump expressed skepticism about the token's market capitalization, deeming it excessive.<\/p>\n\n\n\n

See Related: <\/em><\/strong>Trump Drops Series 2 Of Digital Trading Card NFTs On Polygon<\/a><\/p>\n\n\n\n

U.S. Presidency Candidates And Their Stance On Crypto<\/h2>\n\n\n\n

As the 2024 U.S. presidential election nears, candidates face scrutiny over their stance on cryptocurrency regulation. Republican nominee and former President Donald Trump has shown enthusiasm. <\/p>\n\n\n\n

On the other hand, the Democratic nominee emphasizes balanced regulation to safeguard consumers and curb illegal activities, reflecting broader party sentiments. However, within each party, there's a range of views, from advocating for stringent oversight to promoting innovation. With crypto's increasing impact across sectors, including finance and technology, the candidates' positions are poised to shape the industry's future and its interaction with the government.<\/p>\n","post_title":"Trump Pledges To Accept Cryptocurrency For Campaign Donations","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"trump-pledges-to-accept-cryptocurrency-for-campaign-donations","to_ping":"","pinged":"","post_modified":"2024-05-13 00:31:26","post_modified_gmt":"2024-05-12 14:31:26","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16843","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":16856,"post_author":"15","post_date":"2024-05-12 20:19:19","post_date_gmt":"2024-05-12 10:19:19","post_content":"\n

Wells Fargo, a prominent American bank, revealed its investments in several Bitcoin exchange-traded funds (ETFs) in a recent regulatory filing. This move aligns Wells Fargo with other institutions embracing crypto-based investment vehicles. <\/p>\n\n\n\n

According to the filing <\/a>with the U.S. Securities and Exchange Commission (SEC), the bank has purchased shares of Grayscale's GBTC spot Bitcoin ETF and has exposure to Bitcoin Depot Inc., a Bitcoin ATM provider. Additionally, the filing shows that Wells Fargo has invested in the ProShares Bitcoin Strategy ETF (BITO), which offers investors exposure to BTC futures\u2014contracts speculating on the future price of the asset.<\/p>\n\n\n\n

Despite these investments, Wells Fargo's exposure to Bitcoin ETFs remains relatively small. The filing indicates that its investment in GBTC amounts to $141,817, while its investment in ProShares is under $1,200. The exposure to Bitcoin Depot stands at just $99.<\/p>\n\n\n\n

This disclosure comes after a report in February suggested that Wells Fargo, along with Bank of America's Merrill division, was providing its wealth management clients with exposure to Bitcoin ETFs via brokerage accounts. Wells Fargo has shown repeated interest in digital assets and even piloted its digital currency back in 2019.<\/p>\n\n\n\n

See Related:<\/em><\/strong> Bitcoin ETFs Hit Mainstream: BofA\u2019s Merrill, Wells Fargo Now Offer Spot Trading<\/a><\/p>\n\n\n\n

Bitcoin spot ETF era<\/h2>\n\n\n\n

The SEC's approval of 11 spot BTC ETFs in January has led to significant success for these products. This success mirrors the soaring price of Bitcoin, which reached an all-time high of $73,747 in March. The Bitcoin spot ETF issuers now hold 847,427 BTC which is at $50 billion at the time of writing. <\/p>\n\n\n\n

Hong Kong recently approved and started trading Bitcoin and Ethereum spot ETF. <\/p>\n","post_title":"Wells Fargo Dips Toes Into Crypto With Bitcoin ETF Investments","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"wells-fargo-dips-toes-into-crypto-with-bitcoin-etf-investments","to_ping":"","pinged":"","post_modified":"2024-05-12 20:19:23","post_modified_gmt":"2024-05-12 10:19:23","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16856","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":16761,"post_author":"15","post_date":"2024-05-06 23:24:50","post_date_gmt":"2024-05-06 13:24:50","post_content":"\n

The Grayscale Bitcoin Trust ETF ($GBTC) recently experienced a shift in its financial trend. It registers an inflow of $63 million and breaks an 11-week rally of net losses according to the Farside Investors<\/a>.<\/p>\n\n\n\n

\"Bitcoin
Since the inception of Bitcoin spot ETF in the U.S., GBTC has recorded outflows every single trading day.<\/figcaption><\/figure>\n\n\n\n

Bloomberg ETF analyst Eric Balchunas expressed his surprise<\/a> on Twitter, stating, \"Holy crap $GBTC had inflows today,\" and noted that their nearly 80-day streak of outflows had ended. He humorously remarked on the significance of this change, asking his followers to rate how significant this turnaround was for GBTC.<\/p>\n\n\n\n

Despite these challenges, GBTC remains the largest Bitcoin spot ETF, managing over $18.7 billion in assets and holding approximately 297,000 Bitcoin. However, consistent withdrawals have allowed new entrants like the BlackRock iShares Bitcoin Trust (IBIT), which now has $17.2 billion in assets, to narrow the gap.<\/p>\n\n\n\n

This news comes shortly after a downturn for IBIT, which saw a reduction of $37 million just a day earlier, as per Farside Investors. This event was part of a broader trend that saw the ETF market experience its worst day ever, with a total outflow of $563 million amid a decline in Bitcoin prices.<\/p>\n\n\n\n

See Related:<\/em><\/strong> GBTC Price Prediction after Judges Raised Hope for Investors In Favour Of Grayscale<\/a><\/p>\n\n\n\n

Bitcoin ETF in Asia<\/h2>\n\n\n\n

Hong Kong has recently made strides in the cryptocurrency market with the introduction of spot exchange-traded funds (ETFs) for Bitcoin and Ethereum. This development reflects Hong Kong's growing embrace of digital currencies and its ambition to become a major hub for cryptocurrency trading and finance. <\/p>\n\n\n\n

The trading started last April 30 and shows $12 million in trading volume on its first day. Bitcoin spot ETF recorded a $8.5 million and Ethereum spot ETF $2.5 million in trading volume. <\/p>\n","post_title":"Grayscale Bitcoin Trust Rebounds With $63 Million Influx After 80-Day Drought","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"grayscale-bitcoin-trust-rebounds-with-63-million-influx-after-80-day-drought","to_ping":"","pinged":"","post_modified":"2024-05-06 23:24:54","post_modified_gmt":"2024-05-06 13:24:54","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16761","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":16722,"post_author":"15","post_date":"2024-05-04 02:07:14","post_date_gmt":"2024-05-03 16:07:14","post_content":"\n

Elliptic, a blockchain analysis firm, released a study <\/a>conducted with the MIT-IBM Watson AI Lab on Wednesday. This study utilized a deep learning AI model to identify money laundering patterns within Bitcoin transactions and pinpoint wallets involved in criminal activities.<\/p>\n\n\n\n

Bitcoin's use of a decentralized public ledger, a fundamental aspect of the technology, facilitated the research, according to Elliptic. The collaboration between Elliptic and MIT-IBM leveraged AI to distinguish between legal and illegal transactions, tracking connections within the latter to expose potential money laundering activities.<\/p>\n\n\n\n

Elliptic stated, \u201cBlockchains provide fertile ground for machine learning techniques, thanks to the availability of both transaction data and information on the types of entities that are transacting, collected by us and others. This is in contrast to traditional finance where transaction data is typically siloed, making it challenging to apply these techniques.\u201d<\/em><\/p>\n\n\n\n

Elliptic clarified that instead of directly identifying transactions by illicit actors, the machine learning model is trained to recognize 'subgraphs'\u2014sequences of transactions that depict the laundering of Bitcoin. This method focuses more broadly on the multi-step laundering process rather than specific illegal actions on the blockchain.<\/p>\n\n\n\n

See Related:<\/em><\/strong> Binance's $3.9 Billion USDT Transfer Sparks Speculation Amidst CEO's Guilty Plea<\/a><\/p>\n\n\n\n

Money Laundering in 2024 Reports<\/h2>\n\n\n\n

In 2023, the volume of cryptocurrency involved in money laundering activities decreased significantly, with centralized exchanges continuing as the primary channels for such transactions. DeFi protocols and gambling services saw an uptick in use for laundering, yet they generally lack the anonymity preferred by launderers.<\/p>\n\n\n\n

Sophisticated criminals, particularly North Korea's Lazarus Group, adapted to law enforcement tactics by employing new mixers and utilizing cross-chain bridges to launder funds. These methods allow them to obfuscate the origins of illicit funds more effectively across multiple blockchain platforms, demonstrating a dynamic shift in the techniques used by high-level criminal enterprises to evade detection.<\/p>\n","post_title":"AI Powers New Tool To Detect Illegal Bitcoin Transactions, Study Shows","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"ai-powers-new-tool-to-detect-illegal-bitcoin-transactions-study-shows","to_ping":"","pinged":"","post_modified":"2024-05-04 02:07:20","post_modified_gmt":"2024-05-03 16:07:20","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16722","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":16491,"post_author":"15","post_date":"2024-04-21 10:09:53","post_date_gmt":"2024-04-21 00:09:53","post_content":"\n

Entrepreneur and Dallas Mavericks owner Mark Cuban recently discussed the implications of the upcoming Bitcoin halving. He emphasized its significant impact on miner revenues.<\/p>\n\n\n\n

During an interview <\/a>with The Block, Cuban pointed out that the halving will reduce mining rewards from 6.25 BTC to 3.125 BTC, effectively slashing the income for bitcoin miners by nearly half. However, Cuban expressed greater curiosity about the role artificial intelligence (AI) might play in the mining sector, especially concerning the demand for GPUs.<\/p>\n\n\n\n

Cuban highlighted the intense competition between AI's needs for GPUs and cryptocurrency mining's demands. He questioned whether the economic landscape of mining could be altered by the booming AI industry, asking if it might be more profitable to utilize GPUs for AI model training rather than mining. This issue primarily affects miners using GPUs for cryptocurrencies other than Bitcoin, which typically relies on ASIC machines.<\/p>\n\n\n\n

The intersection of AI and cryptocurrency mining is already seeing practical applications, with companies like Xive and Hive Digital Technologies expanding into AI to bolster their primary mining operations. <\/p>\n\n\n\n

See Related:<\/em><\/strong> Cryptocurrency Statistics And Insights (2022)<\/a><\/p>\n\n\n\n

Bitcoin Halving is Coming<\/h2>\n\n\n\n

Bitcoin halving is a significant event in the cryptocurrency world that occurs approximately every four years, or after 210,000 blocks are mined. During a halving, bitcoin miners' reward for verifying transactions and adding them to the blockchain is reduced by half. This mechanism was designed by Satoshi Nakamoto, the anonymous creator of Bitcoin, to control inflation by limiting the total number of bitcoins that can ever be in circulation to 21 million.<\/p>\n\n\n\n

As of writing, the price of Bitcoin is at $63,760, and 2 blocks remaining until the next Bitcoin halving.<\/p>\n","post_title":"Bitcoin Halving To Slash Miner Earnings, Cuban Eyes AI Shift","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"bitcoin-halving-to-slash-miner-earnings-cuban-eyes-ai-shift","to_ping":"","pinged":"","post_modified":"2024-04-21 10:10:00","post_modified_gmt":"2024-04-21 00:10:00","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16491","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":16460,"post_author":"15","post_date":"2024-04-19 23:38:06","post_date_gmt":"2024-04-19 13:38:06","post_content":"\n

Binance, the leading global cryptocurrency exchange, is set to make a comeback in India after agreeing to pay a $2 million penalty. This development follows a period of stringent regulatory scrutiny where the Indian government blocked nine cryptocurrency websites. They also prompted the removal of related apps from Apple and Google stores due to non-compliance with local laws. <\/p>\n\n\n\n

According to the Economic Times<\/a>, sources close to the matter indicate that Binance is restructuring its operations in South Asia. The cryptocurrency exchange is planning to fully comply with the Financial Intelligence Unit of India, which regulates the local trading of digital assets.<\/p>\n\n\n\n

The move comes as part of Binance's efforts to align with India's financial regulations, including adherence to anti-money laundering and taxation statutes. Before the crackdown, Binance held a commanding presence in the Indian market, with an estimated 90% of crypto holdings among Indian investors, totaling about $4 billion.<\/p>\n\n\n\n

See Related:<\/em><\/strong> Indian Parliament Passes A 30% Crypto Tax Law<\/a><\/p>\n\n\n\n

Nigeria Detains Binance Executives<\/h2>\n\n\n\n

Two months ago, Nigeria detained two executives of the Binance after they flew into the country. The country's Office of the National Security Adviser detained the two, and their passports were seized. <\/p>\n\n\n\n

Nigerian officials have leveled several charges against the cryptocurrency exchange Binance. The allegation includes exploiting the local economy, contributing to the devaluation of the Nigerian naira, and engaging in money laundering activities. They allege that Binance has been involved in manipulating the exchange rates by engaging in speculative actions and fixing rates. Furthermore, the Nigerian government has expressed concerns over $26 billion in transactions carried out on Binance's platform, which they report as being untraceable.<\/p>\n\n\n\n

Binance has denied any wrongdoing, but this is not the first time it has bumped heads with regulators.<\/p>\n","post_title":"Binance Set To Re-enter Indian Market with $2 Million Fine Settlement","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"binance-set-to-re-enter-indian-market-with-2-million-fine-settlement","to_ping":"","pinged":"","post_modified":"2024-04-20 04:11:08","post_modified_gmt":"2024-04-19 18:11:08","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16460","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":16362,"post_author":"15","post_date":"2024-04-15 03:52:59","post_date_gmt":"2024-04-14 17:52:59","post_content":"\n

Hong Kong is on the brink of approving spot exchange-traded funds (ETFs) for bitcoin and ether, potentially by Monday, Bloomberg reports<\/a>. This anticipated approval is poised to influence the cryptocurrency markets in the near term. The ETFs, if launched, will enable investors to trade bitcoin and ether on regulated platforms, enhancing the legitimacy and stability of investing in cryptocurrencies.<\/p>\n\n\n\n

Bloomberg\u2019s sources suggest that if the Hong Kong Exchanges & Clearing can finalize the listing details promptly, trading could commence by the end of April. Harvest Global Investments and Bosera Asset Management, in collaboration with HashKey Capital, are frontrunners in receiving the first approvals for these spot cryptocurrency ETFs. This move could cement Hong Kong's position as a major hub for digital assets in Asia, particularly if it leads to a successful market response similar to the U.S., where the approval of bitcoin ETFs in January triggered a price rally, pushing bitcoin\u2019s value to $73,000.<\/p>\n\n\n\n

However, unlike in the U.S., where ether ETFs have not yet been approved, Hong Kong might take the lead in this area as well. The city's market regulator, the Securities and Futures Commission (SFC), has not commented on the developments. Similarly, inquiries to Harvest Global Investments, Bosera Asset Management, HashKey Capital, and HKEX received no immediate response.<\/p>\n\n\n\n

See Related: <\/em><\/strong>Hong Kong Invests Over $6.4M Into Web 3 Development<\/a><\/p>\n\n\n\n

Ether ETF Update<\/h2>\n\n\n\n

The U.S. Securities and Exchange Commission (SEC) has once again delayed its decision on the application for an Ether ETF. A new deadline is set for May 23<\/a>.<\/p>\n\n\n\n

Despite this, analysts remain cautiously optimistic, estimating a 60% chance<\/a> of eventual approval. These delays and the ongoing review process indicate that the SEC is maintaining a cautious approach towards the approval of Ether ETFs. It reflects the complexities involved in integrating such products into the financial system.<\/p>\n","post_title":"Hong Kong Set to Approve Bitcoin And Ether ETFs By Monday","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"hong-kong-set-to-approve-bitcoin-and-ether-etfs-by-monday","to_ping":"","pinged":"","post_modified":"2024-04-15 03:53:05","post_modified_gmt":"2024-04-14 17:53:05","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16362","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":16347,"post_author":"15","post_date":"2024-04-14 00:03:48","post_date_gmt":"2024-04-13 14:03:48","post_content":"\n

Bitfinex Securities El Salvador is initiating a tokenized debt offering to fund the development of a Hampton by Hilton hotel complex spanning 4,484 square meters at El Salvador International Airport.<\/p>\n\n\n\n

In January, Bitfinex Securities<\/a> became the inaugural regulated entity to obtain a license to operate in El Salvador under the country\u2019s newly enacted Digital Asset Securities Law. This move anticipated a surge in demand for regulated investment vehicles, following the successful introduction of U.S. spot bitcoin exchange-traded funds.<\/p>\n\n\n\n

At the time, the tokenized securities platform announced its acceptance of customer applications and outlined a pipeline of potential financial asset issuances projected to launch in the year's first half.<\/p>\n\n\n\n

The tokenized debt, issued by El Salvadoran firm Inversiones Laguardia S.A. de C.V., is poised to be the inaugural token to trade on the platform. Utilizing the Liquid Network, a Bitcoin sidechain, the token will be denoted as HILSV and traded against U.S. dollars and Tether\u2019s USDT stablecoin.<\/p>\n\n\n\n

See Related: <\/em><\/strong>El Salvador Businesses Barely Impacted By Bitcoins Legality<\/a><\/p>\n\n\n\n

El Salvador Leads The Way<\/h2>\n\n\n\n


El Salvador stands at the forefront of cryptocurrency adoption wherein Bitcoin is recognized as legal tender. Since June 2021, it has been the first country to embrace Bitcoin alongside the US dollar for everyday transactions, making significant strides in the global crypto landscape. <\/p>\n\n\n\n

Under President Nayib Bukele, the government has initiated a groundbreaking project, where the state purchases one Bitcoin daily to bolster its reserves. <\/p>\n","post_title":"Bitfinex Securities Launches Tokenized Debt Offering For A Hotel In El Salvador","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"bitfinex-securities-launches-tokenized-debt-offering-for-a-hotel-in-el-salvador","to_ping":"","pinged":"","post_modified":"2024-04-14 00:03:52","post_modified_gmt":"2024-04-13 14:03:52","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16347","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

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\n
\nhttps:\/\/twitter.com\/EricBalchunas\/status\/1790498386203869352\n<\/div><\/figure>\n\n\n\n

Mr. Ramji is a seasoned financial services executive with over 25 years of experience in investments, capital markets, and wealth management. He spent a decade in senior leadership roles at BlackRock Inc., departing in January 2024. Most recently, he served as Global Head of iShares & Index Investing, overseeing the management of the majority of the firm's client assets and enhancing the iShares platform to offer a wider array of innovative, low-cost products for investors worldwide.<\/p>\n\n\n\n

See Related:<\/em><\/strong> SandStorm Launches On-Demand Metaverse Builds with 5 Virtual World Partners<\/a><\/p>\n\n\n\n

But Vanguard's Not A Bitcoin Lover<\/h2>\n\n\n\n

Vanguard has taken a different stance. In January, Bitcoin investors were surprised to find that Vanguard did not list Bitcoin spot ETFs from providers like BlackRock and Fidelity, citing inconsistencies with its \"investment philosophy.\"<\/p>\n\n\n\n

Balchunas pointed out that Vanguard inherited John Bogle's philosophy, favoring assets with intrinsic cash flow over commodities like BTC. In 2017, Bogle advised investors to \"avoid Bitcoin like the plague.\"<\/em><\/p>\n\n\n\n

\"Bitcoin is too volatile and not a store of value. It hasn't been, and it's very volatile,\"<\/em> Buckley said in a March interview. \"It's tough to see how it fits into a long-term portfolio.\"<\/em><\/p>\n\n\n\n

After over three decades at Vanguard, Buckley announced in February that he would retire by the end of the year, shortly after the Bitcoin ETFs went live. Many investors believed the timing was significant, suggesting Vanguard regretted missing out on the most successful ETF launch in history.<\/p>\n\n\n\n

\"I still think it's unlikely that this means Vanguard will launch a Bitcoin ETF (at least in the near term),\" <\/em>tweeted Bloomberg Intelligence's James Seyffart on Tuesday. \"But I think Salim could change Vanguard\u2019s stance on allowing their clients to buy spot Bitcoin ETFs on their brokerage platform.\"<\/em><\/p>\n","post_title":"Vanguard Hires Bitcoin Advocate Salim Ramji As New CEO","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"vanguard-hires-bitcoin-advocate-salim-ramji-as-new-ceo","to_ping":"","pinged":"","post_modified":"2024-05-18 23:22:16","post_modified_gmt":"2024-05-18 13:22:16","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16932","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":16843,"post_author":"15","post_date":"2024-05-13 00:31:20","post_date_gmt":"2024-05-12 14:31:20","post_content":"\n

Former U.S. President Donald Trump expressed his intention to enable the use of cryptocurrency for campaign donations. In videos <\/a>shared by NFT creator and influencer Frank Degods, Trump indicated to a group of NFT buyers his willingness to accept crypto donations for his campaign.<\/p>\n\n\n\n

He assured, \"If you can't, I'll make sure you can.\"<\/em> Additionally, he suggested that President Joe Biden lacks an understanding of cryptocurrency and urged crypto supporters to vote for him.<\/p>\n\n\n\n

Trump's remarks were made during a gathering he organized to meet with buyers of his \"Mugshot Edition\" NFTs. Attendees, who individually purchased over 47 NFTs priced at $99 each, were invited to a dinner on their day off from trial. Trump boasted about revitalizing interest in NFTs, stating, \"We made NFTs hot again.\"<\/p>\n\n\n\n

Regarding the crypto industry's presence in the U.S., Trump pledged to work towards retaining it, emphasizing the importance of embracing crypto businesses. His statements led to an 18.5% surge in the \"Jeo Boden\" memecoin, inspired by President Biden, according to CoinMarketCap data<\/a>. Trump expressed skepticism about the token's market capitalization, deeming it excessive.<\/p>\n\n\n\n

See Related: <\/em><\/strong>Trump Drops Series 2 Of Digital Trading Card NFTs On Polygon<\/a><\/p>\n\n\n\n

U.S. Presidency Candidates And Their Stance On Crypto<\/h2>\n\n\n\n

As the 2024 U.S. presidential election nears, candidates face scrutiny over their stance on cryptocurrency regulation. Republican nominee and former President Donald Trump has shown enthusiasm. <\/p>\n\n\n\n

On the other hand, the Democratic nominee emphasizes balanced regulation to safeguard consumers and curb illegal activities, reflecting broader party sentiments. However, within each party, there's a range of views, from advocating for stringent oversight to promoting innovation. With crypto's increasing impact across sectors, including finance and technology, the candidates' positions are poised to shape the industry's future and its interaction with the government.<\/p>\n","post_title":"Trump Pledges To Accept Cryptocurrency For Campaign Donations","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"trump-pledges-to-accept-cryptocurrency-for-campaign-donations","to_ping":"","pinged":"","post_modified":"2024-05-13 00:31:26","post_modified_gmt":"2024-05-12 14:31:26","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16843","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":16856,"post_author":"15","post_date":"2024-05-12 20:19:19","post_date_gmt":"2024-05-12 10:19:19","post_content":"\n

Wells Fargo, a prominent American bank, revealed its investments in several Bitcoin exchange-traded funds (ETFs) in a recent regulatory filing. This move aligns Wells Fargo with other institutions embracing crypto-based investment vehicles. <\/p>\n\n\n\n

According to the filing <\/a>with the U.S. Securities and Exchange Commission (SEC), the bank has purchased shares of Grayscale's GBTC spot Bitcoin ETF and has exposure to Bitcoin Depot Inc., a Bitcoin ATM provider. Additionally, the filing shows that Wells Fargo has invested in the ProShares Bitcoin Strategy ETF (BITO), which offers investors exposure to BTC futures\u2014contracts speculating on the future price of the asset.<\/p>\n\n\n\n

Despite these investments, Wells Fargo's exposure to Bitcoin ETFs remains relatively small. The filing indicates that its investment in GBTC amounts to $141,817, while its investment in ProShares is under $1,200. The exposure to Bitcoin Depot stands at just $99.<\/p>\n\n\n\n

This disclosure comes after a report in February suggested that Wells Fargo, along with Bank of America's Merrill division, was providing its wealth management clients with exposure to Bitcoin ETFs via brokerage accounts. Wells Fargo has shown repeated interest in digital assets and even piloted its digital currency back in 2019.<\/p>\n\n\n\n

See Related:<\/em><\/strong> Bitcoin ETFs Hit Mainstream: BofA\u2019s Merrill, Wells Fargo Now Offer Spot Trading<\/a><\/p>\n\n\n\n

Bitcoin spot ETF era<\/h2>\n\n\n\n

The SEC's approval of 11 spot BTC ETFs in January has led to significant success for these products. This success mirrors the soaring price of Bitcoin, which reached an all-time high of $73,747 in March. The Bitcoin spot ETF issuers now hold 847,427 BTC which is at $50 billion at the time of writing. <\/p>\n\n\n\n

Hong Kong recently approved and started trading Bitcoin and Ethereum spot ETF. <\/p>\n","post_title":"Wells Fargo Dips Toes Into Crypto With Bitcoin ETF Investments","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"wells-fargo-dips-toes-into-crypto-with-bitcoin-etf-investments","to_ping":"","pinged":"","post_modified":"2024-05-12 20:19:23","post_modified_gmt":"2024-05-12 10:19:23","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16856","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":16761,"post_author":"15","post_date":"2024-05-06 23:24:50","post_date_gmt":"2024-05-06 13:24:50","post_content":"\n

The Grayscale Bitcoin Trust ETF ($GBTC) recently experienced a shift in its financial trend. It registers an inflow of $63 million and breaks an 11-week rally of net losses according to the Farside Investors<\/a>.<\/p>\n\n\n\n

\"Bitcoin
Since the inception of Bitcoin spot ETF in the U.S., GBTC has recorded outflows every single trading day.<\/figcaption><\/figure>\n\n\n\n

Bloomberg ETF analyst Eric Balchunas expressed his surprise<\/a> on Twitter, stating, \"Holy crap $GBTC had inflows today,\" and noted that their nearly 80-day streak of outflows had ended. He humorously remarked on the significance of this change, asking his followers to rate how significant this turnaround was for GBTC.<\/p>\n\n\n\n

Despite these challenges, GBTC remains the largest Bitcoin spot ETF, managing over $18.7 billion in assets and holding approximately 297,000 Bitcoin. However, consistent withdrawals have allowed new entrants like the BlackRock iShares Bitcoin Trust (IBIT), which now has $17.2 billion in assets, to narrow the gap.<\/p>\n\n\n\n

This news comes shortly after a downturn for IBIT, which saw a reduction of $37 million just a day earlier, as per Farside Investors. This event was part of a broader trend that saw the ETF market experience its worst day ever, with a total outflow of $563 million amid a decline in Bitcoin prices.<\/p>\n\n\n\n

See Related:<\/em><\/strong> GBTC Price Prediction after Judges Raised Hope for Investors In Favour Of Grayscale<\/a><\/p>\n\n\n\n

Bitcoin ETF in Asia<\/h2>\n\n\n\n

Hong Kong has recently made strides in the cryptocurrency market with the introduction of spot exchange-traded funds (ETFs) for Bitcoin and Ethereum. This development reflects Hong Kong's growing embrace of digital currencies and its ambition to become a major hub for cryptocurrency trading and finance. <\/p>\n\n\n\n

The trading started last April 30 and shows $12 million in trading volume on its first day. Bitcoin spot ETF recorded a $8.5 million and Ethereum spot ETF $2.5 million in trading volume. <\/p>\n","post_title":"Grayscale Bitcoin Trust Rebounds With $63 Million Influx After 80-Day Drought","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"grayscale-bitcoin-trust-rebounds-with-63-million-influx-after-80-day-drought","to_ping":"","pinged":"","post_modified":"2024-05-06 23:24:54","post_modified_gmt":"2024-05-06 13:24:54","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16761","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":16722,"post_author":"15","post_date":"2024-05-04 02:07:14","post_date_gmt":"2024-05-03 16:07:14","post_content":"\n

Elliptic, a blockchain analysis firm, released a study <\/a>conducted with the MIT-IBM Watson AI Lab on Wednesday. This study utilized a deep learning AI model to identify money laundering patterns within Bitcoin transactions and pinpoint wallets involved in criminal activities.<\/p>\n\n\n\n

Bitcoin's use of a decentralized public ledger, a fundamental aspect of the technology, facilitated the research, according to Elliptic. The collaboration between Elliptic and MIT-IBM leveraged AI to distinguish between legal and illegal transactions, tracking connections within the latter to expose potential money laundering activities.<\/p>\n\n\n\n

Elliptic stated, \u201cBlockchains provide fertile ground for machine learning techniques, thanks to the availability of both transaction data and information on the types of entities that are transacting, collected by us and others. This is in contrast to traditional finance where transaction data is typically siloed, making it challenging to apply these techniques.\u201d<\/em><\/p>\n\n\n\n

Elliptic clarified that instead of directly identifying transactions by illicit actors, the machine learning model is trained to recognize 'subgraphs'\u2014sequences of transactions that depict the laundering of Bitcoin. This method focuses more broadly on the multi-step laundering process rather than specific illegal actions on the blockchain.<\/p>\n\n\n\n

See Related:<\/em><\/strong> Binance's $3.9 Billion USDT Transfer Sparks Speculation Amidst CEO's Guilty Plea<\/a><\/p>\n\n\n\n

Money Laundering in 2024 Reports<\/h2>\n\n\n\n

In 2023, the volume of cryptocurrency involved in money laundering activities decreased significantly, with centralized exchanges continuing as the primary channels for such transactions. DeFi protocols and gambling services saw an uptick in use for laundering, yet they generally lack the anonymity preferred by launderers.<\/p>\n\n\n\n

Sophisticated criminals, particularly North Korea's Lazarus Group, adapted to law enforcement tactics by employing new mixers and utilizing cross-chain bridges to launder funds. These methods allow them to obfuscate the origins of illicit funds more effectively across multiple blockchain platforms, demonstrating a dynamic shift in the techniques used by high-level criminal enterprises to evade detection.<\/p>\n","post_title":"AI Powers New Tool To Detect Illegal Bitcoin Transactions, Study Shows","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"ai-powers-new-tool-to-detect-illegal-bitcoin-transactions-study-shows","to_ping":"","pinged":"","post_modified":"2024-05-04 02:07:20","post_modified_gmt":"2024-05-03 16:07:20","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16722","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":16491,"post_author":"15","post_date":"2024-04-21 10:09:53","post_date_gmt":"2024-04-21 00:09:53","post_content":"\n

Entrepreneur and Dallas Mavericks owner Mark Cuban recently discussed the implications of the upcoming Bitcoin halving. He emphasized its significant impact on miner revenues.<\/p>\n\n\n\n

During an interview <\/a>with The Block, Cuban pointed out that the halving will reduce mining rewards from 6.25 BTC to 3.125 BTC, effectively slashing the income for bitcoin miners by nearly half. However, Cuban expressed greater curiosity about the role artificial intelligence (AI) might play in the mining sector, especially concerning the demand for GPUs.<\/p>\n\n\n\n

Cuban highlighted the intense competition between AI's needs for GPUs and cryptocurrency mining's demands. He questioned whether the economic landscape of mining could be altered by the booming AI industry, asking if it might be more profitable to utilize GPUs for AI model training rather than mining. This issue primarily affects miners using GPUs for cryptocurrencies other than Bitcoin, which typically relies on ASIC machines.<\/p>\n\n\n\n

The intersection of AI and cryptocurrency mining is already seeing practical applications, with companies like Xive and Hive Digital Technologies expanding into AI to bolster their primary mining operations. <\/p>\n\n\n\n

See Related:<\/em><\/strong> Cryptocurrency Statistics And Insights (2022)<\/a><\/p>\n\n\n\n

Bitcoin Halving is Coming<\/h2>\n\n\n\n

Bitcoin halving is a significant event in the cryptocurrency world that occurs approximately every four years, or after 210,000 blocks are mined. During a halving, bitcoin miners' reward for verifying transactions and adding them to the blockchain is reduced by half. This mechanism was designed by Satoshi Nakamoto, the anonymous creator of Bitcoin, to control inflation by limiting the total number of bitcoins that can ever be in circulation to 21 million.<\/p>\n\n\n\n

As of writing, the price of Bitcoin is at $63,760, and 2 blocks remaining until the next Bitcoin halving.<\/p>\n","post_title":"Bitcoin Halving To Slash Miner Earnings, Cuban Eyes AI Shift","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"bitcoin-halving-to-slash-miner-earnings-cuban-eyes-ai-shift","to_ping":"","pinged":"","post_modified":"2024-04-21 10:10:00","post_modified_gmt":"2024-04-21 00:10:00","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16491","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":16460,"post_author":"15","post_date":"2024-04-19 23:38:06","post_date_gmt":"2024-04-19 13:38:06","post_content":"\n

Binance, the leading global cryptocurrency exchange, is set to make a comeback in India after agreeing to pay a $2 million penalty. This development follows a period of stringent regulatory scrutiny where the Indian government blocked nine cryptocurrency websites. They also prompted the removal of related apps from Apple and Google stores due to non-compliance with local laws. <\/p>\n\n\n\n

According to the Economic Times<\/a>, sources close to the matter indicate that Binance is restructuring its operations in South Asia. The cryptocurrency exchange is planning to fully comply with the Financial Intelligence Unit of India, which regulates the local trading of digital assets.<\/p>\n\n\n\n

The move comes as part of Binance's efforts to align with India's financial regulations, including adherence to anti-money laundering and taxation statutes. Before the crackdown, Binance held a commanding presence in the Indian market, with an estimated 90% of crypto holdings among Indian investors, totaling about $4 billion.<\/p>\n\n\n\n

See Related:<\/em><\/strong> Indian Parliament Passes A 30% Crypto Tax Law<\/a><\/p>\n\n\n\n

Nigeria Detains Binance Executives<\/h2>\n\n\n\n

Two months ago, Nigeria detained two executives of the Binance after they flew into the country. The country's Office of the National Security Adviser detained the two, and their passports were seized. <\/p>\n\n\n\n

Nigerian officials have leveled several charges against the cryptocurrency exchange Binance. The allegation includes exploiting the local economy, contributing to the devaluation of the Nigerian naira, and engaging in money laundering activities. They allege that Binance has been involved in manipulating the exchange rates by engaging in speculative actions and fixing rates. Furthermore, the Nigerian government has expressed concerns over $26 billion in transactions carried out on Binance's platform, which they report as being untraceable.<\/p>\n\n\n\n

Binance has denied any wrongdoing, but this is not the first time it has bumped heads with regulators.<\/p>\n","post_title":"Binance Set To Re-enter Indian Market with $2 Million Fine Settlement","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"binance-set-to-re-enter-indian-market-with-2-million-fine-settlement","to_ping":"","pinged":"","post_modified":"2024-04-20 04:11:08","post_modified_gmt":"2024-04-19 18:11:08","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16460","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":16362,"post_author":"15","post_date":"2024-04-15 03:52:59","post_date_gmt":"2024-04-14 17:52:59","post_content":"\n

Hong Kong is on the brink of approving spot exchange-traded funds (ETFs) for bitcoin and ether, potentially by Monday, Bloomberg reports<\/a>. This anticipated approval is poised to influence the cryptocurrency markets in the near term. The ETFs, if launched, will enable investors to trade bitcoin and ether on regulated platforms, enhancing the legitimacy and stability of investing in cryptocurrencies.<\/p>\n\n\n\n

Bloomberg\u2019s sources suggest that if the Hong Kong Exchanges & Clearing can finalize the listing details promptly, trading could commence by the end of April. Harvest Global Investments and Bosera Asset Management, in collaboration with HashKey Capital, are frontrunners in receiving the first approvals for these spot cryptocurrency ETFs. This move could cement Hong Kong's position as a major hub for digital assets in Asia, particularly if it leads to a successful market response similar to the U.S., where the approval of bitcoin ETFs in January triggered a price rally, pushing bitcoin\u2019s value to $73,000.<\/p>\n\n\n\n

However, unlike in the U.S., where ether ETFs have not yet been approved, Hong Kong might take the lead in this area as well. The city's market regulator, the Securities and Futures Commission (SFC), has not commented on the developments. Similarly, inquiries to Harvest Global Investments, Bosera Asset Management, HashKey Capital, and HKEX received no immediate response.<\/p>\n\n\n\n

See Related: <\/em><\/strong>Hong Kong Invests Over $6.4M Into Web 3 Development<\/a><\/p>\n\n\n\n

Ether ETF Update<\/h2>\n\n\n\n

The U.S. Securities and Exchange Commission (SEC) has once again delayed its decision on the application for an Ether ETF. A new deadline is set for May 23<\/a>.<\/p>\n\n\n\n

Despite this, analysts remain cautiously optimistic, estimating a 60% chance<\/a> of eventual approval. These delays and the ongoing review process indicate that the SEC is maintaining a cautious approach towards the approval of Ether ETFs. It reflects the complexities involved in integrating such products into the financial system.<\/p>\n","post_title":"Hong Kong Set to Approve Bitcoin And Ether ETFs By Monday","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"hong-kong-set-to-approve-bitcoin-and-ether-etfs-by-monday","to_ping":"","pinged":"","post_modified":"2024-04-15 03:53:05","post_modified_gmt":"2024-04-14 17:53:05","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16362","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":16347,"post_author":"15","post_date":"2024-04-14 00:03:48","post_date_gmt":"2024-04-13 14:03:48","post_content":"\n

Bitfinex Securities El Salvador is initiating a tokenized debt offering to fund the development of a Hampton by Hilton hotel complex spanning 4,484 square meters at El Salvador International Airport.<\/p>\n\n\n\n

In January, Bitfinex Securities<\/a> became the inaugural regulated entity to obtain a license to operate in El Salvador under the country\u2019s newly enacted Digital Asset Securities Law. This move anticipated a surge in demand for regulated investment vehicles, following the successful introduction of U.S. spot bitcoin exchange-traded funds.<\/p>\n\n\n\n

At the time, the tokenized securities platform announced its acceptance of customer applications and outlined a pipeline of potential financial asset issuances projected to launch in the year's first half.<\/p>\n\n\n\n

The tokenized debt, issued by El Salvadoran firm Inversiones Laguardia S.A. de C.V., is poised to be the inaugural token to trade on the platform. Utilizing the Liquid Network, a Bitcoin sidechain, the token will be denoted as HILSV and traded against U.S. dollars and Tether\u2019s USDT stablecoin.<\/p>\n\n\n\n

See Related: <\/em><\/strong>El Salvador Businesses Barely Impacted By Bitcoins Legality<\/a><\/p>\n\n\n\n

El Salvador Leads The Way<\/h2>\n\n\n\n


El Salvador stands at the forefront of cryptocurrency adoption wherein Bitcoin is recognized as legal tender. Since June 2021, it has been the first country to embrace Bitcoin alongside the US dollar for everyday transactions, making significant strides in the global crypto landscape. <\/p>\n\n\n\n

Under President Nayib Bukele, the government has initiated a groundbreaking project, where the state purchases one Bitcoin daily to bolster its reserves. <\/p>\n","post_title":"Bitfinex Securities Launches Tokenized Debt Offering For A Hotel In El Salvador","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"bitfinex-securities-launches-tokenized-debt-offering-for-a-hotel-in-el-salvador","to_ping":"","pinged":"","post_modified":"2024-04-14 00:03:52","post_modified_gmt":"2024-04-13 14:03:52","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16347","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

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\n

Bloomberg ETF analyst Eric Balchunas noted that this is the \"first time ever\" that Vanguard has hired externally for its top position. Balchunas, who was \"semi-shocked\" by the move, explained that previous CEOs were \"internal stars\" and former aides to the late founder John Bogle.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/EricBalchunas\/status\/1790498386203869352\n<\/div><\/figure>\n\n\n\n

Mr. Ramji is a seasoned financial services executive with over 25 years of experience in investments, capital markets, and wealth management. He spent a decade in senior leadership roles at BlackRock Inc., departing in January 2024. Most recently, he served as Global Head of iShares & Index Investing, overseeing the management of the majority of the firm's client assets and enhancing the iShares platform to offer a wider array of innovative, low-cost products for investors worldwide.<\/p>\n\n\n\n

See Related:<\/em><\/strong> SandStorm Launches On-Demand Metaverse Builds with 5 Virtual World Partners<\/a><\/p>\n\n\n\n

But Vanguard's Not A Bitcoin Lover<\/h2>\n\n\n\n

Vanguard has taken a different stance. In January, Bitcoin investors were surprised to find that Vanguard did not list Bitcoin spot ETFs from providers like BlackRock and Fidelity, citing inconsistencies with its \"investment philosophy.\"<\/p>\n\n\n\n

Balchunas pointed out that Vanguard inherited John Bogle's philosophy, favoring assets with intrinsic cash flow over commodities like BTC. In 2017, Bogle advised investors to \"avoid Bitcoin like the plague.\"<\/em><\/p>\n\n\n\n

\"Bitcoin is too volatile and not a store of value. It hasn't been, and it's very volatile,\"<\/em> Buckley said in a March interview. \"It's tough to see how it fits into a long-term portfolio.\"<\/em><\/p>\n\n\n\n

After over three decades at Vanguard, Buckley announced in February that he would retire by the end of the year, shortly after the Bitcoin ETFs went live. Many investors believed the timing was significant, suggesting Vanguard regretted missing out on the most successful ETF launch in history.<\/p>\n\n\n\n

\"I still think it's unlikely that this means Vanguard will launch a Bitcoin ETF (at least in the near term),\" <\/em>tweeted Bloomberg Intelligence's James Seyffart on Tuesday. \"But I think Salim could change Vanguard\u2019s stance on allowing their clients to buy spot Bitcoin ETFs on their brokerage platform.\"<\/em><\/p>\n","post_title":"Vanguard Hires Bitcoin Advocate Salim Ramji As New CEO","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"vanguard-hires-bitcoin-advocate-salim-ramji-as-new-ceo","to_ping":"","pinged":"","post_modified":"2024-05-18 23:22:16","post_modified_gmt":"2024-05-18 13:22:16","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16932","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":16843,"post_author":"15","post_date":"2024-05-13 00:31:20","post_date_gmt":"2024-05-12 14:31:20","post_content":"\n

Former U.S. President Donald Trump expressed his intention to enable the use of cryptocurrency for campaign donations. In videos <\/a>shared by NFT creator and influencer Frank Degods, Trump indicated to a group of NFT buyers his willingness to accept crypto donations for his campaign.<\/p>\n\n\n\n

He assured, \"If you can't, I'll make sure you can.\"<\/em> Additionally, he suggested that President Joe Biden lacks an understanding of cryptocurrency and urged crypto supporters to vote for him.<\/p>\n\n\n\n

Trump's remarks were made during a gathering he organized to meet with buyers of his \"Mugshot Edition\" NFTs. Attendees, who individually purchased over 47 NFTs priced at $99 each, were invited to a dinner on their day off from trial. Trump boasted about revitalizing interest in NFTs, stating, \"We made NFTs hot again.\"<\/p>\n\n\n\n

Regarding the crypto industry's presence in the U.S., Trump pledged to work towards retaining it, emphasizing the importance of embracing crypto businesses. His statements led to an 18.5% surge in the \"Jeo Boden\" memecoin, inspired by President Biden, according to CoinMarketCap data<\/a>. Trump expressed skepticism about the token's market capitalization, deeming it excessive.<\/p>\n\n\n\n

See Related: <\/em><\/strong>Trump Drops Series 2 Of Digital Trading Card NFTs On Polygon<\/a><\/p>\n\n\n\n

U.S. Presidency Candidates And Their Stance On Crypto<\/h2>\n\n\n\n

As the 2024 U.S. presidential election nears, candidates face scrutiny over their stance on cryptocurrency regulation. Republican nominee and former President Donald Trump has shown enthusiasm. <\/p>\n\n\n\n

On the other hand, the Democratic nominee emphasizes balanced regulation to safeguard consumers and curb illegal activities, reflecting broader party sentiments. However, within each party, there's a range of views, from advocating for stringent oversight to promoting innovation. With crypto's increasing impact across sectors, including finance and technology, the candidates' positions are poised to shape the industry's future and its interaction with the government.<\/p>\n","post_title":"Trump Pledges To Accept Cryptocurrency For Campaign Donations","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"trump-pledges-to-accept-cryptocurrency-for-campaign-donations","to_ping":"","pinged":"","post_modified":"2024-05-13 00:31:26","post_modified_gmt":"2024-05-12 14:31:26","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16843","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":16856,"post_author":"15","post_date":"2024-05-12 20:19:19","post_date_gmt":"2024-05-12 10:19:19","post_content":"\n

Wells Fargo, a prominent American bank, revealed its investments in several Bitcoin exchange-traded funds (ETFs) in a recent regulatory filing. This move aligns Wells Fargo with other institutions embracing crypto-based investment vehicles. <\/p>\n\n\n\n

According to the filing <\/a>with the U.S. Securities and Exchange Commission (SEC), the bank has purchased shares of Grayscale's GBTC spot Bitcoin ETF and has exposure to Bitcoin Depot Inc., a Bitcoin ATM provider. Additionally, the filing shows that Wells Fargo has invested in the ProShares Bitcoin Strategy ETF (BITO), which offers investors exposure to BTC futures\u2014contracts speculating on the future price of the asset.<\/p>\n\n\n\n

Despite these investments, Wells Fargo's exposure to Bitcoin ETFs remains relatively small. The filing indicates that its investment in GBTC amounts to $141,817, while its investment in ProShares is under $1,200. The exposure to Bitcoin Depot stands at just $99.<\/p>\n\n\n\n

This disclosure comes after a report in February suggested that Wells Fargo, along with Bank of America's Merrill division, was providing its wealth management clients with exposure to Bitcoin ETFs via brokerage accounts. Wells Fargo has shown repeated interest in digital assets and even piloted its digital currency back in 2019.<\/p>\n\n\n\n

See Related:<\/em><\/strong> Bitcoin ETFs Hit Mainstream: BofA\u2019s Merrill, Wells Fargo Now Offer Spot Trading<\/a><\/p>\n\n\n\n

Bitcoin spot ETF era<\/h2>\n\n\n\n

The SEC's approval of 11 spot BTC ETFs in January has led to significant success for these products. This success mirrors the soaring price of Bitcoin, which reached an all-time high of $73,747 in March. The Bitcoin spot ETF issuers now hold 847,427 BTC which is at $50 billion at the time of writing. <\/p>\n\n\n\n

Hong Kong recently approved and started trading Bitcoin and Ethereum spot ETF. <\/p>\n","post_title":"Wells Fargo Dips Toes Into Crypto With Bitcoin ETF Investments","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"wells-fargo-dips-toes-into-crypto-with-bitcoin-etf-investments","to_ping":"","pinged":"","post_modified":"2024-05-12 20:19:23","post_modified_gmt":"2024-05-12 10:19:23","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16856","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":16761,"post_author":"15","post_date":"2024-05-06 23:24:50","post_date_gmt":"2024-05-06 13:24:50","post_content":"\n

The Grayscale Bitcoin Trust ETF ($GBTC) recently experienced a shift in its financial trend. It registers an inflow of $63 million and breaks an 11-week rally of net losses according to the Farside Investors<\/a>.<\/p>\n\n\n\n

\"Bitcoin
Since the inception of Bitcoin spot ETF in the U.S., GBTC has recorded outflows every single trading day.<\/figcaption><\/figure>\n\n\n\n

Bloomberg ETF analyst Eric Balchunas expressed his surprise<\/a> on Twitter, stating, \"Holy crap $GBTC had inflows today,\" and noted that their nearly 80-day streak of outflows had ended. He humorously remarked on the significance of this change, asking his followers to rate how significant this turnaround was for GBTC.<\/p>\n\n\n\n

Despite these challenges, GBTC remains the largest Bitcoin spot ETF, managing over $18.7 billion in assets and holding approximately 297,000 Bitcoin. However, consistent withdrawals have allowed new entrants like the BlackRock iShares Bitcoin Trust (IBIT), which now has $17.2 billion in assets, to narrow the gap.<\/p>\n\n\n\n

This news comes shortly after a downturn for IBIT, which saw a reduction of $37 million just a day earlier, as per Farside Investors. This event was part of a broader trend that saw the ETF market experience its worst day ever, with a total outflow of $563 million amid a decline in Bitcoin prices.<\/p>\n\n\n\n

See Related:<\/em><\/strong> GBTC Price Prediction after Judges Raised Hope for Investors In Favour Of Grayscale<\/a><\/p>\n\n\n\n

Bitcoin ETF in Asia<\/h2>\n\n\n\n

Hong Kong has recently made strides in the cryptocurrency market with the introduction of spot exchange-traded funds (ETFs) for Bitcoin and Ethereum. This development reflects Hong Kong's growing embrace of digital currencies and its ambition to become a major hub for cryptocurrency trading and finance. <\/p>\n\n\n\n

The trading started last April 30 and shows $12 million in trading volume on its first day. Bitcoin spot ETF recorded a $8.5 million and Ethereum spot ETF $2.5 million in trading volume. <\/p>\n","post_title":"Grayscale Bitcoin Trust Rebounds With $63 Million Influx After 80-Day Drought","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"grayscale-bitcoin-trust-rebounds-with-63-million-influx-after-80-day-drought","to_ping":"","pinged":"","post_modified":"2024-05-06 23:24:54","post_modified_gmt":"2024-05-06 13:24:54","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16761","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":16722,"post_author":"15","post_date":"2024-05-04 02:07:14","post_date_gmt":"2024-05-03 16:07:14","post_content":"\n

Elliptic, a blockchain analysis firm, released a study <\/a>conducted with the MIT-IBM Watson AI Lab on Wednesday. This study utilized a deep learning AI model to identify money laundering patterns within Bitcoin transactions and pinpoint wallets involved in criminal activities.<\/p>\n\n\n\n

Bitcoin's use of a decentralized public ledger, a fundamental aspect of the technology, facilitated the research, according to Elliptic. The collaboration between Elliptic and MIT-IBM leveraged AI to distinguish between legal and illegal transactions, tracking connections within the latter to expose potential money laundering activities.<\/p>\n\n\n\n

Elliptic stated, \u201cBlockchains provide fertile ground for machine learning techniques, thanks to the availability of both transaction data and information on the types of entities that are transacting, collected by us and others. This is in contrast to traditional finance where transaction data is typically siloed, making it challenging to apply these techniques.\u201d<\/em><\/p>\n\n\n\n

Elliptic clarified that instead of directly identifying transactions by illicit actors, the machine learning model is trained to recognize 'subgraphs'\u2014sequences of transactions that depict the laundering of Bitcoin. This method focuses more broadly on the multi-step laundering process rather than specific illegal actions on the blockchain.<\/p>\n\n\n\n

See Related:<\/em><\/strong> Binance's $3.9 Billion USDT Transfer Sparks Speculation Amidst CEO's Guilty Plea<\/a><\/p>\n\n\n\n

Money Laundering in 2024 Reports<\/h2>\n\n\n\n

In 2023, the volume of cryptocurrency involved in money laundering activities decreased significantly, with centralized exchanges continuing as the primary channels for such transactions. DeFi protocols and gambling services saw an uptick in use for laundering, yet they generally lack the anonymity preferred by launderers.<\/p>\n\n\n\n

Sophisticated criminals, particularly North Korea's Lazarus Group, adapted to law enforcement tactics by employing new mixers and utilizing cross-chain bridges to launder funds. These methods allow them to obfuscate the origins of illicit funds more effectively across multiple blockchain platforms, demonstrating a dynamic shift in the techniques used by high-level criminal enterprises to evade detection.<\/p>\n","post_title":"AI Powers New Tool To Detect Illegal Bitcoin Transactions, Study Shows","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"ai-powers-new-tool-to-detect-illegal-bitcoin-transactions-study-shows","to_ping":"","pinged":"","post_modified":"2024-05-04 02:07:20","post_modified_gmt":"2024-05-03 16:07:20","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16722","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":16491,"post_author":"15","post_date":"2024-04-21 10:09:53","post_date_gmt":"2024-04-21 00:09:53","post_content":"\n

Entrepreneur and Dallas Mavericks owner Mark Cuban recently discussed the implications of the upcoming Bitcoin halving. He emphasized its significant impact on miner revenues.<\/p>\n\n\n\n

During an interview <\/a>with The Block, Cuban pointed out that the halving will reduce mining rewards from 6.25 BTC to 3.125 BTC, effectively slashing the income for bitcoin miners by nearly half. However, Cuban expressed greater curiosity about the role artificial intelligence (AI) might play in the mining sector, especially concerning the demand for GPUs.<\/p>\n\n\n\n

Cuban highlighted the intense competition between AI's needs for GPUs and cryptocurrency mining's demands. He questioned whether the economic landscape of mining could be altered by the booming AI industry, asking if it might be more profitable to utilize GPUs for AI model training rather than mining. This issue primarily affects miners using GPUs for cryptocurrencies other than Bitcoin, which typically relies on ASIC machines.<\/p>\n\n\n\n

The intersection of AI and cryptocurrency mining is already seeing practical applications, with companies like Xive and Hive Digital Technologies expanding into AI to bolster their primary mining operations. <\/p>\n\n\n\n

See Related:<\/em><\/strong> Cryptocurrency Statistics And Insights (2022)<\/a><\/p>\n\n\n\n

Bitcoin Halving is Coming<\/h2>\n\n\n\n

Bitcoin halving is a significant event in the cryptocurrency world that occurs approximately every four years, or after 210,000 blocks are mined. During a halving, bitcoin miners' reward for verifying transactions and adding them to the blockchain is reduced by half. This mechanism was designed by Satoshi Nakamoto, the anonymous creator of Bitcoin, to control inflation by limiting the total number of bitcoins that can ever be in circulation to 21 million.<\/p>\n\n\n\n

As of writing, the price of Bitcoin is at $63,760, and 2 blocks remaining until the next Bitcoin halving.<\/p>\n","post_title":"Bitcoin Halving To Slash Miner Earnings, Cuban Eyes AI Shift","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"bitcoin-halving-to-slash-miner-earnings-cuban-eyes-ai-shift","to_ping":"","pinged":"","post_modified":"2024-04-21 10:10:00","post_modified_gmt":"2024-04-21 00:10:00","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16491","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":16460,"post_author":"15","post_date":"2024-04-19 23:38:06","post_date_gmt":"2024-04-19 13:38:06","post_content":"\n

Binance, the leading global cryptocurrency exchange, is set to make a comeback in India after agreeing to pay a $2 million penalty. This development follows a period of stringent regulatory scrutiny where the Indian government blocked nine cryptocurrency websites. They also prompted the removal of related apps from Apple and Google stores due to non-compliance with local laws. <\/p>\n\n\n\n

According to the Economic Times<\/a>, sources close to the matter indicate that Binance is restructuring its operations in South Asia. The cryptocurrency exchange is planning to fully comply with the Financial Intelligence Unit of India, which regulates the local trading of digital assets.<\/p>\n\n\n\n

The move comes as part of Binance's efforts to align with India's financial regulations, including adherence to anti-money laundering and taxation statutes. Before the crackdown, Binance held a commanding presence in the Indian market, with an estimated 90% of crypto holdings among Indian investors, totaling about $4 billion.<\/p>\n\n\n\n

See Related:<\/em><\/strong> Indian Parliament Passes A 30% Crypto Tax Law<\/a><\/p>\n\n\n\n

Nigeria Detains Binance Executives<\/h2>\n\n\n\n

Two months ago, Nigeria detained two executives of the Binance after they flew into the country. The country's Office of the National Security Adviser detained the two, and their passports were seized. <\/p>\n\n\n\n

Nigerian officials have leveled several charges against the cryptocurrency exchange Binance. The allegation includes exploiting the local economy, contributing to the devaluation of the Nigerian naira, and engaging in money laundering activities. They allege that Binance has been involved in manipulating the exchange rates by engaging in speculative actions and fixing rates. Furthermore, the Nigerian government has expressed concerns over $26 billion in transactions carried out on Binance's platform, which they report as being untraceable.<\/p>\n\n\n\n

Binance has denied any wrongdoing, but this is not the first time it has bumped heads with regulators.<\/p>\n","post_title":"Binance Set To Re-enter Indian Market with $2 Million Fine Settlement","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"binance-set-to-re-enter-indian-market-with-2-million-fine-settlement","to_ping":"","pinged":"","post_modified":"2024-04-20 04:11:08","post_modified_gmt":"2024-04-19 18:11:08","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16460","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":16362,"post_author":"15","post_date":"2024-04-15 03:52:59","post_date_gmt":"2024-04-14 17:52:59","post_content":"\n

Hong Kong is on the brink of approving spot exchange-traded funds (ETFs) for bitcoin and ether, potentially by Monday, Bloomberg reports<\/a>. This anticipated approval is poised to influence the cryptocurrency markets in the near term. The ETFs, if launched, will enable investors to trade bitcoin and ether on regulated platforms, enhancing the legitimacy and stability of investing in cryptocurrencies.<\/p>\n\n\n\n

Bloomberg\u2019s sources suggest that if the Hong Kong Exchanges & Clearing can finalize the listing details promptly, trading could commence by the end of April. Harvest Global Investments and Bosera Asset Management, in collaboration with HashKey Capital, are frontrunners in receiving the first approvals for these spot cryptocurrency ETFs. This move could cement Hong Kong's position as a major hub for digital assets in Asia, particularly if it leads to a successful market response similar to the U.S., where the approval of bitcoin ETFs in January triggered a price rally, pushing bitcoin\u2019s value to $73,000.<\/p>\n\n\n\n

However, unlike in the U.S., where ether ETFs have not yet been approved, Hong Kong might take the lead in this area as well. The city's market regulator, the Securities and Futures Commission (SFC), has not commented on the developments. Similarly, inquiries to Harvest Global Investments, Bosera Asset Management, HashKey Capital, and HKEX received no immediate response.<\/p>\n\n\n\n

See Related: <\/em><\/strong>Hong Kong Invests Over $6.4M Into Web 3 Development<\/a><\/p>\n\n\n\n

Ether ETF Update<\/h2>\n\n\n\n

The U.S. Securities and Exchange Commission (SEC) has once again delayed its decision on the application for an Ether ETF. A new deadline is set for May 23<\/a>.<\/p>\n\n\n\n

Despite this, analysts remain cautiously optimistic, estimating a 60% chance<\/a> of eventual approval. These delays and the ongoing review process indicate that the SEC is maintaining a cautious approach towards the approval of Ether ETFs. It reflects the complexities involved in integrating such products into the financial system.<\/p>\n","post_title":"Hong Kong Set to Approve Bitcoin And Ether ETFs By Monday","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"hong-kong-set-to-approve-bitcoin-and-ether-etfs-by-monday","to_ping":"","pinged":"","post_modified":"2024-04-15 03:53:05","post_modified_gmt":"2024-04-14 17:53:05","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16362","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":16347,"post_author":"15","post_date":"2024-04-14 00:03:48","post_date_gmt":"2024-04-13 14:03:48","post_content":"\n

Bitfinex Securities El Salvador is initiating a tokenized debt offering to fund the development of a Hampton by Hilton hotel complex spanning 4,484 square meters at El Salvador International Airport.<\/p>\n\n\n\n

In January, Bitfinex Securities<\/a> became the inaugural regulated entity to obtain a license to operate in El Salvador under the country\u2019s newly enacted Digital Asset Securities Law. This move anticipated a surge in demand for regulated investment vehicles, following the successful introduction of U.S. spot bitcoin exchange-traded funds.<\/p>\n\n\n\n

At the time, the tokenized securities platform announced its acceptance of customer applications and outlined a pipeline of potential financial asset issuances projected to launch in the year's first half.<\/p>\n\n\n\n

The tokenized debt, issued by El Salvadoran firm Inversiones Laguardia S.A. de C.V., is poised to be the inaugural token to trade on the platform. Utilizing the Liquid Network, a Bitcoin sidechain, the token will be denoted as HILSV and traded against U.S. dollars and Tether\u2019s USDT stablecoin.<\/p>\n\n\n\n

See Related: <\/em><\/strong>El Salvador Businesses Barely Impacted By Bitcoins Legality<\/a><\/p>\n\n\n\n

El Salvador Leads The Way<\/h2>\n\n\n\n


El Salvador stands at the forefront of cryptocurrency adoption wherein Bitcoin is recognized as legal tender. Since June 2021, it has been the first country to embrace Bitcoin alongside the US dollar for everyday transactions, making significant strides in the global crypto landscape. <\/p>\n\n\n\n

Under President Nayib Bukele, the government has initiated a groundbreaking project, where the state purchases one Bitcoin daily to bolster its reserves. <\/p>\n","post_title":"Bitfinex Securities Launches Tokenized Debt Offering For A Hotel In El Salvador","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"bitfinex-securities-launches-tokenized-debt-offering-for-a-hotel-in-el-salvador","to_ping":"","pinged":"","post_modified":"2024-04-14 00:03:52","post_modified_gmt":"2024-04-13 14:03:52","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16347","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

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\n

The world's second-largest asset manager announced <\/a>on Tuesday the appointment of Salim Ramji as its new CEO. Mr Ramji's new role will be effective on July 8. Unlike his predecessor Tim Buckley and the broader company, Ramji is a known supporter of Bitcoin.<\/p>\n\n\n\n

Bloomberg ETF analyst Eric Balchunas noted that this is the \"first time ever\" that Vanguard has hired externally for its top position. Balchunas, who was \"semi-shocked\" by the move, explained that previous CEOs were \"internal stars\" and former aides to the late founder John Bogle.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/EricBalchunas\/status\/1790498386203869352\n<\/div><\/figure>\n\n\n\n

Mr. Ramji is a seasoned financial services executive with over 25 years of experience in investments, capital markets, and wealth management. He spent a decade in senior leadership roles at BlackRock Inc., departing in January 2024. Most recently, he served as Global Head of iShares & Index Investing, overseeing the management of the majority of the firm's client assets and enhancing the iShares platform to offer a wider array of innovative, low-cost products for investors worldwide.<\/p>\n\n\n\n

See Related:<\/em><\/strong> SandStorm Launches On-Demand Metaverse Builds with 5 Virtual World Partners<\/a><\/p>\n\n\n\n

But Vanguard's Not A Bitcoin Lover<\/h2>\n\n\n\n

Vanguard has taken a different stance. In January, Bitcoin investors were surprised to find that Vanguard did not list Bitcoin spot ETFs from providers like BlackRock and Fidelity, citing inconsistencies with its \"investment philosophy.\"<\/p>\n\n\n\n

Balchunas pointed out that Vanguard inherited John Bogle's philosophy, favoring assets with intrinsic cash flow over commodities like BTC. In 2017, Bogle advised investors to \"avoid Bitcoin like the plague.\"<\/em><\/p>\n\n\n\n

\"Bitcoin is too volatile and not a store of value. It hasn't been, and it's very volatile,\"<\/em> Buckley said in a March interview. \"It's tough to see how it fits into a long-term portfolio.\"<\/em><\/p>\n\n\n\n

After over three decades at Vanguard, Buckley announced in February that he would retire by the end of the year, shortly after the Bitcoin ETFs went live. Many investors believed the timing was significant, suggesting Vanguard regretted missing out on the most successful ETF launch in history.<\/p>\n\n\n\n

\"I still think it's unlikely that this means Vanguard will launch a Bitcoin ETF (at least in the near term),\" <\/em>tweeted Bloomberg Intelligence's James Seyffart on Tuesday. \"But I think Salim could change Vanguard\u2019s stance on allowing their clients to buy spot Bitcoin ETFs on their brokerage platform.\"<\/em><\/p>\n","post_title":"Vanguard Hires Bitcoin Advocate Salim Ramji As New CEO","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"vanguard-hires-bitcoin-advocate-salim-ramji-as-new-ceo","to_ping":"","pinged":"","post_modified":"2024-05-18 23:22:16","post_modified_gmt":"2024-05-18 13:22:16","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16932","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":16843,"post_author":"15","post_date":"2024-05-13 00:31:20","post_date_gmt":"2024-05-12 14:31:20","post_content":"\n

Former U.S. President Donald Trump expressed his intention to enable the use of cryptocurrency for campaign donations. In videos <\/a>shared by NFT creator and influencer Frank Degods, Trump indicated to a group of NFT buyers his willingness to accept crypto donations for his campaign.<\/p>\n\n\n\n

He assured, \"If you can't, I'll make sure you can.\"<\/em> Additionally, he suggested that President Joe Biden lacks an understanding of cryptocurrency and urged crypto supporters to vote for him.<\/p>\n\n\n\n

Trump's remarks were made during a gathering he organized to meet with buyers of his \"Mugshot Edition\" NFTs. Attendees, who individually purchased over 47 NFTs priced at $99 each, were invited to a dinner on their day off from trial. Trump boasted about revitalizing interest in NFTs, stating, \"We made NFTs hot again.\"<\/p>\n\n\n\n

Regarding the crypto industry's presence in the U.S., Trump pledged to work towards retaining it, emphasizing the importance of embracing crypto businesses. His statements led to an 18.5% surge in the \"Jeo Boden\" memecoin, inspired by President Biden, according to CoinMarketCap data<\/a>. Trump expressed skepticism about the token's market capitalization, deeming it excessive.<\/p>\n\n\n\n

See Related: <\/em><\/strong>Trump Drops Series 2 Of Digital Trading Card NFTs On Polygon<\/a><\/p>\n\n\n\n

U.S. Presidency Candidates And Their Stance On Crypto<\/h2>\n\n\n\n

As the 2024 U.S. presidential election nears, candidates face scrutiny over their stance on cryptocurrency regulation. Republican nominee and former President Donald Trump has shown enthusiasm. <\/p>\n\n\n\n

On the other hand, the Democratic nominee emphasizes balanced regulation to safeguard consumers and curb illegal activities, reflecting broader party sentiments. However, within each party, there's a range of views, from advocating for stringent oversight to promoting innovation. With crypto's increasing impact across sectors, including finance and technology, the candidates' positions are poised to shape the industry's future and its interaction with the government.<\/p>\n","post_title":"Trump Pledges To Accept Cryptocurrency For Campaign Donations","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"trump-pledges-to-accept-cryptocurrency-for-campaign-donations","to_ping":"","pinged":"","post_modified":"2024-05-13 00:31:26","post_modified_gmt":"2024-05-12 14:31:26","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16843","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":16856,"post_author":"15","post_date":"2024-05-12 20:19:19","post_date_gmt":"2024-05-12 10:19:19","post_content":"\n

Wells Fargo, a prominent American bank, revealed its investments in several Bitcoin exchange-traded funds (ETFs) in a recent regulatory filing. This move aligns Wells Fargo with other institutions embracing crypto-based investment vehicles. <\/p>\n\n\n\n

According to the filing <\/a>with the U.S. Securities and Exchange Commission (SEC), the bank has purchased shares of Grayscale's GBTC spot Bitcoin ETF and has exposure to Bitcoin Depot Inc., a Bitcoin ATM provider. Additionally, the filing shows that Wells Fargo has invested in the ProShares Bitcoin Strategy ETF (BITO), which offers investors exposure to BTC futures\u2014contracts speculating on the future price of the asset.<\/p>\n\n\n\n

Despite these investments, Wells Fargo's exposure to Bitcoin ETFs remains relatively small. The filing indicates that its investment in GBTC amounts to $141,817, while its investment in ProShares is under $1,200. The exposure to Bitcoin Depot stands at just $99.<\/p>\n\n\n\n

This disclosure comes after a report in February suggested that Wells Fargo, along with Bank of America's Merrill division, was providing its wealth management clients with exposure to Bitcoin ETFs via brokerage accounts. Wells Fargo has shown repeated interest in digital assets and even piloted its digital currency back in 2019.<\/p>\n\n\n\n

See Related:<\/em><\/strong> Bitcoin ETFs Hit Mainstream: BofA\u2019s Merrill, Wells Fargo Now Offer Spot Trading<\/a><\/p>\n\n\n\n

Bitcoin spot ETF era<\/h2>\n\n\n\n

The SEC's approval of 11 spot BTC ETFs in January has led to significant success for these products. This success mirrors the soaring price of Bitcoin, which reached an all-time high of $73,747 in March. The Bitcoin spot ETF issuers now hold 847,427 BTC which is at $50 billion at the time of writing. <\/p>\n\n\n\n

Hong Kong recently approved and started trading Bitcoin and Ethereum spot ETF. <\/p>\n","post_title":"Wells Fargo Dips Toes Into Crypto With Bitcoin ETF Investments","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"wells-fargo-dips-toes-into-crypto-with-bitcoin-etf-investments","to_ping":"","pinged":"","post_modified":"2024-05-12 20:19:23","post_modified_gmt":"2024-05-12 10:19:23","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16856","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":16761,"post_author":"15","post_date":"2024-05-06 23:24:50","post_date_gmt":"2024-05-06 13:24:50","post_content":"\n

The Grayscale Bitcoin Trust ETF ($GBTC) recently experienced a shift in its financial trend. It registers an inflow of $63 million and breaks an 11-week rally of net losses according to the Farside Investors<\/a>.<\/p>\n\n\n\n

\"Bitcoin
Since the inception of Bitcoin spot ETF in the U.S., GBTC has recorded outflows every single trading day.<\/figcaption><\/figure>\n\n\n\n

Bloomberg ETF analyst Eric Balchunas expressed his surprise<\/a> on Twitter, stating, \"Holy crap $GBTC had inflows today,\" and noted that their nearly 80-day streak of outflows had ended. He humorously remarked on the significance of this change, asking his followers to rate how significant this turnaround was for GBTC.<\/p>\n\n\n\n

Despite these challenges, GBTC remains the largest Bitcoin spot ETF, managing over $18.7 billion in assets and holding approximately 297,000 Bitcoin. However, consistent withdrawals have allowed new entrants like the BlackRock iShares Bitcoin Trust (IBIT), which now has $17.2 billion in assets, to narrow the gap.<\/p>\n\n\n\n

This news comes shortly after a downturn for IBIT, which saw a reduction of $37 million just a day earlier, as per Farside Investors. This event was part of a broader trend that saw the ETF market experience its worst day ever, with a total outflow of $563 million amid a decline in Bitcoin prices.<\/p>\n\n\n\n

See Related:<\/em><\/strong> GBTC Price Prediction after Judges Raised Hope for Investors In Favour Of Grayscale<\/a><\/p>\n\n\n\n

Bitcoin ETF in Asia<\/h2>\n\n\n\n

Hong Kong has recently made strides in the cryptocurrency market with the introduction of spot exchange-traded funds (ETFs) for Bitcoin and Ethereum. This development reflects Hong Kong's growing embrace of digital currencies and its ambition to become a major hub for cryptocurrency trading and finance. <\/p>\n\n\n\n

The trading started last April 30 and shows $12 million in trading volume on its first day. Bitcoin spot ETF recorded a $8.5 million and Ethereum spot ETF $2.5 million in trading volume. <\/p>\n","post_title":"Grayscale Bitcoin Trust Rebounds With $63 Million Influx After 80-Day Drought","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"grayscale-bitcoin-trust-rebounds-with-63-million-influx-after-80-day-drought","to_ping":"","pinged":"","post_modified":"2024-05-06 23:24:54","post_modified_gmt":"2024-05-06 13:24:54","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16761","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":16722,"post_author":"15","post_date":"2024-05-04 02:07:14","post_date_gmt":"2024-05-03 16:07:14","post_content":"\n

Elliptic, a blockchain analysis firm, released a study <\/a>conducted with the MIT-IBM Watson AI Lab on Wednesday. This study utilized a deep learning AI model to identify money laundering patterns within Bitcoin transactions and pinpoint wallets involved in criminal activities.<\/p>\n\n\n\n

Bitcoin's use of a decentralized public ledger, a fundamental aspect of the technology, facilitated the research, according to Elliptic. The collaboration between Elliptic and MIT-IBM leveraged AI to distinguish between legal and illegal transactions, tracking connections within the latter to expose potential money laundering activities.<\/p>\n\n\n\n

Elliptic stated, \u201cBlockchains provide fertile ground for machine learning techniques, thanks to the availability of both transaction data and information on the types of entities that are transacting, collected by us and others. This is in contrast to traditional finance where transaction data is typically siloed, making it challenging to apply these techniques.\u201d<\/em><\/p>\n\n\n\n

Elliptic clarified that instead of directly identifying transactions by illicit actors, the machine learning model is trained to recognize 'subgraphs'\u2014sequences of transactions that depict the laundering of Bitcoin. This method focuses more broadly on the multi-step laundering process rather than specific illegal actions on the blockchain.<\/p>\n\n\n\n

See Related:<\/em><\/strong> Binance's $3.9 Billion USDT Transfer Sparks Speculation Amidst CEO's Guilty Plea<\/a><\/p>\n\n\n\n

Money Laundering in 2024 Reports<\/h2>\n\n\n\n

In 2023, the volume of cryptocurrency involved in money laundering activities decreased significantly, with centralized exchanges continuing as the primary channels for such transactions. DeFi protocols and gambling services saw an uptick in use for laundering, yet they generally lack the anonymity preferred by launderers.<\/p>\n\n\n\n

Sophisticated criminals, particularly North Korea's Lazarus Group, adapted to law enforcement tactics by employing new mixers and utilizing cross-chain bridges to launder funds. These methods allow them to obfuscate the origins of illicit funds more effectively across multiple blockchain platforms, demonstrating a dynamic shift in the techniques used by high-level criminal enterprises to evade detection.<\/p>\n","post_title":"AI Powers New Tool To Detect Illegal Bitcoin Transactions, Study Shows","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"ai-powers-new-tool-to-detect-illegal-bitcoin-transactions-study-shows","to_ping":"","pinged":"","post_modified":"2024-05-04 02:07:20","post_modified_gmt":"2024-05-03 16:07:20","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16722","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":16491,"post_author":"15","post_date":"2024-04-21 10:09:53","post_date_gmt":"2024-04-21 00:09:53","post_content":"\n

Entrepreneur and Dallas Mavericks owner Mark Cuban recently discussed the implications of the upcoming Bitcoin halving. He emphasized its significant impact on miner revenues.<\/p>\n\n\n\n

During an interview <\/a>with The Block, Cuban pointed out that the halving will reduce mining rewards from 6.25 BTC to 3.125 BTC, effectively slashing the income for bitcoin miners by nearly half. However, Cuban expressed greater curiosity about the role artificial intelligence (AI) might play in the mining sector, especially concerning the demand for GPUs.<\/p>\n\n\n\n

Cuban highlighted the intense competition between AI's needs for GPUs and cryptocurrency mining's demands. He questioned whether the economic landscape of mining could be altered by the booming AI industry, asking if it might be more profitable to utilize GPUs for AI model training rather than mining. This issue primarily affects miners using GPUs for cryptocurrencies other than Bitcoin, which typically relies on ASIC machines.<\/p>\n\n\n\n

The intersection of AI and cryptocurrency mining is already seeing practical applications, with companies like Xive and Hive Digital Technologies expanding into AI to bolster their primary mining operations. <\/p>\n\n\n\n

See Related:<\/em><\/strong> Cryptocurrency Statistics And Insights (2022)<\/a><\/p>\n\n\n\n

Bitcoin Halving is Coming<\/h2>\n\n\n\n

Bitcoin halving is a significant event in the cryptocurrency world that occurs approximately every four years, or after 210,000 blocks are mined. During a halving, bitcoin miners' reward for verifying transactions and adding them to the blockchain is reduced by half. This mechanism was designed by Satoshi Nakamoto, the anonymous creator of Bitcoin, to control inflation by limiting the total number of bitcoins that can ever be in circulation to 21 million.<\/p>\n\n\n\n

As of writing, the price of Bitcoin is at $63,760, and 2 blocks remaining until the next Bitcoin halving.<\/p>\n","post_title":"Bitcoin Halving To Slash Miner Earnings, Cuban Eyes AI Shift","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"bitcoin-halving-to-slash-miner-earnings-cuban-eyes-ai-shift","to_ping":"","pinged":"","post_modified":"2024-04-21 10:10:00","post_modified_gmt":"2024-04-21 00:10:00","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16491","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":16460,"post_author":"15","post_date":"2024-04-19 23:38:06","post_date_gmt":"2024-04-19 13:38:06","post_content":"\n

Binance, the leading global cryptocurrency exchange, is set to make a comeback in India after agreeing to pay a $2 million penalty. This development follows a period of stringent regulatory scrutiny where the Indian government blocked nine cryptocurrency websites. They also prompted the removal of related apps from Apple and Google stores due to non-compliance with local laws. <\/p>\n\n\n\n

According to the Economic Times<\/a>, sources close to the matter indicate that Binance is restructuring its operations in South Asia. The cryptocurrency exchange is planning to fully comply with the Financial Intelligence Unit of India, which regulates the local trading of digital assets.<\/p>\n\n\n\n

The move comes as part of Binance's efforts to align with India's financial regulations, including adherence to anti-money laundering and taxation statutes. Before the crackdown, Binance held a commanding presence in the Indian market, with an estimated 90% of crypto holdings among Indian investors, totaling about $4 billion.<\/p>\n\n\n\n

See Related:<\/em><\/strong> Indian Parliament Passes A 30% Crypto Tax Law<\/a><\/p>\n\n\n\n

Nigeria Detains Binance Executives<\/h2>\n\n\n\n

Two months ago, Nigeria detained two executives of the Binance after they flew into the country. The country's Office of the National Security Adviser detained the two, and their passports were seized. <\/p>\n\n\n\n

Nigerian officials have leveled several charges against the cryptocurrency exchange Binance. The allegation includes exploiting the local economy, contributing to the devaluation of the Nigerian naira, and engaging in money laundering activities. They allege that Binance has been involved in manipulating the exchange rates by engaging in speculative actions and fixing rates. Furthermore, the Nigerian government has expressed concerns over $26 billion in transactions carried out on Binance's platform, which they report as being untraceable.<\/p>\n\n\n\n

Binance has denied any wrongdoing, but this is not the first time it has bumped heads with regulators.<\/p>\n","post_title":"Binance Set To Re-enter Indian Market with $2 Million Fine Settlement","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"binance-set-to-re-enter-indian-market-with-2-million-fine-settlement","to_ping":"","pinged":"","post_modified":"2024-04-20 04:11:08","post_modified_gmt":"2024-04-19 18:11:08","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16460","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":16362,"post_author":"15","post_date":"2024-04-15 03:52:59","post_date_gmt":"2024-04-14 17:52:59","post_content":"\n

Hong Kong is on the brink of approving spot exchange-traded funds (ETFs) for bitcoin and ether, potentially by Monday, Bloomberg reports<\/a>. This anticipated approval is poised to influence the cryptocurrency markets in the near term. The ETFs, if launched, will enable investors to trade bitcoin and ether on regulated platforms, enhancing the legitimacy and stability of investing in cryptocurrencies.<\/p>\n\n\n\n

Bloomberg\u2019s sources suggest that if the Hong Kong Exchanges & Clearing can finalize the listing details promptly, trading could commence by the end of April. Harvest Global Investments and Bosera Asset Management, in collaboration with HashKey Capital, are frontrunners in receiving the first approvals for these spot cryptocurrency ETFs. This move could cement Hong Kong's position as a major hub for digital assets in Asia, particularly if it leads to a successful market response similar to the U.S., where the approval of bitcoin ETFs in January triggered a price rally, pushing bitcoin\u2019s value to $73,000.<\/p>\n\n\n\n

However, unlike in the U.S., where ether ETFs have not yet been approved, Hong Kong might take the lead in this area as well. The city's market regulator, the Securities and Futures Commission (SFC), has not commented on the developments. Similarly, inquiries to Harvest Global Investments, Bosera Asset Management, HashKey Capital, and HKEX received no immediate response.<\/p>\n\n\n\n

See Related: <\/em><\/strong>Hong Kong Invests Over $6.4M Into Web 3 Development<\/a><\/p>\n\n\n\n

Ether ETF Update<\/h2>\n\n\n\n

The U.S. Securities and Exchange Commission (SEC) has once again delayed its decision on the application for an Ether ETF. A new deadline is set for May 23<\/a>.<\/p>\n\n\n\n

Despite this, analysts remain cautiously optimistic, estimating a 60% chance<\/a> of eventual approval. These delays and the ongoing review process indicate that the SEC is maintaining a cautious approach towards the approval of Ether ETFs. It reflects the complexities involved in integrating such products into the financial system.<\/p>\n","post_title":"Hong Kong Set to Approve Bitcoin And Ether ETFs By Monday","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"hong-kong-set-to-approve-bitcoin-and-ether-etfs-by-monday","to_ping":"","pinged":"","post_modified":"2024-04-15 03:53:05","post_modified_gmt":"2024-04-14 17:53:05","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16362","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":16347,"post_author":"15","post_date":"2024-04-14 00:03:48","post_date_gmt":"2024-04-13 14:03:48","post_content":"\n

Bitfinex Securities El Salvador is initiating a tokenized debt offering to fund the development of a Hampton by Hilton hotel complex spanning 4,484 square meters at El Salvador International Airport.<\/p>\n\n\n\n

In January, Bitfinex Securities<\/a> became the inaugural regulated entity to obtain a license to operate in El Salvador under the country\u2019s newly enacted Digital Asset Securities Law. This move anticipated a surge in demand for regulated investment vehicles, following the successful introduction of U.S. spot bitcoin exchange-traded funds.<\/p>\n\n\n\n

At the time, the tokenized securities platform announced its acceptance of customer applications and outlined a pipeline of potential financial asset issuances projected to launch in the year's first half.<\/p>\n\n\n\n

The tokenized debt, issued by El Salvadoran firm Inversiones Laguardia S.A. de C.V., is poised to be the inaugural token to trade on the platform. Utilizing the Liquid Network, a Bitcoin sidechain, the token will be denoted as HILSV and traded against U.S. dollars and Tether\u2019s USDT stablecoin.<\/p>\n\n\n\n

See Related: <\/em><\/strong>El Salvador Businesses Barely Impacted By Bitcoins Legality<\/a><\/p>\n\n\n\n

El Salvador Leads The Way<\/h2>\n\n\n\n


El Salvador stands at the forefront of cryptocurrency adoption wherein Bitcoin is recognized as legal tender. Since June 2021, it has been the first country to embrace Bitcoin alongside the US dollar for everyday transactions, making significant strides in the global crypto landscape. <\/p>\n\n\n\n

Under President Nayib Bukele, the government has initiated a groundbreaking project, where the state purchases one Bitcoin daily to bolster its reserves. <\/p>\n","post_title":"Bitfinex Securities Launches Tokenized Debt Offering For A Hotel In El Salvador","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"bitfinex-securities-launches-tokenized-debt-offering-for-a-hotel-in-el-salvador","to_ping":"","pinged":"","post_modified":"2024-04-14 00:03:52","post_modified_gmt":"2024-04-13 14:03:52","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16347","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

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On the other, Oklahoma just recently legalized crypto mining in homes as long as it complies with the noise policy. This includes operating nodes for operations like staking.<\/p>\n","post_title":"Venezuela Cracks Down On Crypto Mining To Save Electricity","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"venezuela-cracks-down-on-crypto-mining-to-save-electricity","to_ping":"","pinged":"","post_modified":"2024-05-20 04:44:44","post_modified_gmt":"2024-05-19 18:44:44","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16985","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":16932,"post_author":"15","post_date":"2024-05-18 23:22:10","post_date_gmt":"2024-05-18 13:22:10","post_content":"\n

The world's second-largest asset manager announced <\/a>on Tuesday the appointment of Salim Ramji as its new CEO. Mr Ramji's new role will be effective on July 8. Unlike his predecessor Tim Buckley and the broader company, Ramji is a known supporter of Bitcoin.<\/p>\n\n\n\n

Bloomberg ETF analyst Eric Balchunas noted that this is the \"first time ever\" that Vanguard has hired externally for its top position. Balchunas, who was \"semi-shocked\" by the move, explained that previous CEOs were \"internal stars\" and former aides to the late founder John Bogle.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/EricBalchunas\/status\/1790498386203869352\n<\/div><\/figure>\n\n\n\n

Mr. Ramji is a seasoned financial services executive with over 25 years of experience in investments, capital markets, and wealth management. He spent a decade in senior leadership roles at BlackRock Inc., departing in January 2024. Most recently, he served as Global Head of iShares & Index Investing, overseeing the management of the majority of the firm's client assets and enhancing the iShares platform to offer a wider array of innovative, low-cost products for investors worldwide.<\/p>\n\n\n\n

See Related:<\/em><\/strong> SandStorm Launches On-Demand Metaverse Builds with 5 Virtual World Partners<\/a><\/p>\n\n\n\n

But Vanguard's Not A Bitcoin Lover<\/h2>\n\n\n\n

Vanguard has taken a different stance. In January, Bitcoin investors were surprised to find that Vanguard did not list Bitcoin spot ETFs from providers like BlackRock and Fidelity, citing inconsistencies with its \"investment philosophy.\"<\/p>\n\n\n\n

Balchunas pointed out that Vanguard inherited John Bogle's philosophy, favoring assets with intrinsic cash flow over commodities like BTC. In 2017, Bogle advised investors to \"avoid Bitcoin like the plague.\"<\/em><\/p>\n\n\n\n

\"Bitcoin is too volatile and not a store of value. It hasn't been, and it's very volatile,\"<\/em> Buckley said in a March interview. \"It's tough to see how it fits into a long-term portfolio.\"<\/em><\/p>\n\n\n\n

After over three decades at Vanguard, Buckley announced in February that he would retire by the end of the year, shortly after the Bitcoin ETFs went live. Many investors believed the timing was significant, suggesting Vanguard regretted missing out on the most successful ETF launch in history.<\/p>\n\n\n\n

\"I still think it's unlikely that this means Vanguard will launch a Bitcoin ETF (at least in the near term),\" <\/em>tweeted Bloomberg Intelligence's James Seyffart on Tuesday. \"But I think Salim could change Vanguard\u2019s stance on allowing their clients to buy spot Bitcoin ETFs on their brokerage platform.\"<\/em><\/p>\n","post_title":"Vanguard Hires Bitcoin Advocate Salim Ramji As New CEO","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"vanguard-hires-bitcoin-advocate-salim-ramji-as-new-ceo","to_ping":"","pinged":"","post_modified":"2024-05-18 23:22:16","post_modified_gmt":"2024-05-18 13:22:16","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16932","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":16843,"post_author":"15","post_date":"2024-05-13 00:31:20","post_date_gmt":"2024-05-12 14:31:20","post_content":"\n

Former U.S. President Donald Trump expressed his intention to enable the use of cryptocurrency for campaign donations. In videos <\/a>shared by NFT creator and influencer Frank Degods, Trump indicated to a group of NFT buyers his willingness to accept crypto donations for his campaign.<\/p>\n\n\n\n

He assured, \"If you can't, I'll make sure you can.\"<\/em> Additionally, he suggested that President Joe Biden lacks an understanding of cryptocurrency and urged crypto supporters to vote for him.<\/p>\n\n\n\n

Trump's remarks were made during a gathering he organized to meet with buyers of his \"Mugshot Edition\" NFTs. Attendees, who individually purchased over 47 NFTs priced at $99 each, were invited to a dinner on their day off from trial. Trump boasted about revitalizing interest in NFTs, stating, \"We made NFTs hot again.\"<\/p>\n\n\n\n

Regarding the crypto industry's presence in the U.S., Trump pledged to work towards retaining it, emphasizing the importance of embracing crypto businesses. His statements led to an 18.5% surge in the \"Jeo Boden\" memecoin, inspired by President Biden, according to CoinMarketCap data<\/a>. Trump expressed skepticism about the token's market capitalization, deeming it excessive.<\/p>\n\n\n\n

See Related: <\/em><\/strong>Trump Drops Series 2 Of Digital Trading Card NFTs On Polygon<\/a><\/p>\n\n\n\n

U.S. Presidency Candidates And Their Stance On Crypto<\/h2>\n\n\n\n

As the 2024 U.S. presidential election nears, candidates face scrutiny over their stance on cryptocurrency regulation. Republican nominee and former President Donald Trump has shown enthusiasm. <\/p>\n\n\n\n

On the other hand, the Democratic nominee emphasizes balanced regulation to safeguard consumers and curb illegal activities, reflecting broader party sentiments. However, within each party, there's a range of views, from advocating for stringent oversight to promoting innovation. With crypto's increasing impact across sectors, including finance and technology, the candidates' positions are poised to shape the industry's future and its interaction with the government.<\/p>\n","post_title":"Trump Pledges To Accept Cryptocurrency For Campaign Donations","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"trump-pledges-to-accept-cryptocurrency-for-campaign-donations","to_ping":"","pinged":"","post_modified":"2024-05-13 00:31:26","post_modified_gmt":"2024-05-12 14:31:26","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16843","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":16856,"post_author":"15","post_date":"2024-05-12 20:19:19","post_date_gmt":"2024-05-12 10:19:19","post_content":"\n

Wells Fargo, a prominent American bank, revealed its investments in several Bitcoin exchange-traded funds (ETFs) in a recent regulatory filing. This move aligns Wells Fargo with other institutions embracing crypto-based investment vehicles. <\/p>\n\n\n\n

According to the filing <\/a>with the U.S. Securities and Exchange Commission (SEC), the bank has purchased shares of Grayscale's GBTC spot Bitcoin ETF and has exposure to Bitcoin Depot Inc., a Bitcoin ATM provider. Additionally, the filing shows that Wells Fargo has invested in the ProShares Bitcoin Strategy ETF (BITO), which offers investors exposure to BTC futures\u2014contracts speculating on the future price of the asset.<\/p>\n\n\n\n

Despite these investments, Wells Fargo's exposure to Bitcoin ETFs remains relatively small. The filing indicates that its investment in GBTC amounts to $141,817, while its investment in ProShares is under $1,200. The exposure to Bitcoin Depot stands at just $99.<\/p>\n\n\n\n

This disclosure comes after a report in February suggested that Wells Fargo, along with Bank of America's Merrill division, was providing its wealth management clients with exposure to Bitcoin ETFs via brokerage accounts. Wells Fargo has shown repeated interest in digital assets and even piloted its digital currency back in 2019.<\/p>\n\n\n\n

See Related:<\/em><\/strong> Bitcoin ETFs Hit Mainstream: BofA\u2019s Merrill, Wells Fargo Now Offer Spot Trading<\/a><\/p>\n\n\n\n

Bitcoin spot ETF era<\/h2>\n\n\n\n

The SEC's approval of 11 spot BTC ETFs in January has led to significant success for these products. This success mirrors the soaring price of Bitcoin, which reached an all-time high of $73,747 in March. The Bitcoin spot ETF issuers now hold 847,427 BTC which is at $50 billion at the time of writing. <\/p>\n\n\n\n

Hong Kong recently approved and started trading Bitcoin and Ethereum spot ETF. <\/p>\n","post_title":"Wells Fargo Dips Toes Into Crypto With Bitcoin ETF Investments","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"wells-fargo-dips-toes-into-crypto-with-bitcoin-etf-investments","to_ping":"","pinged":"","post_modified":"2024-05-12 20:19:23","post_modified_gmt":"2024-05-12 10:19:23","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16856","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":16761,"post_author":"15","post_date":"2024-05-06 23:24:50","post_date_gmt":"2024-05-06 13:24:50","post_content":"\n

The Grayscale Bitcoin Trust ETF ($GBTC) recently experienced a shift in its financial trend. It registers an inflow of $63 million and breaks an 11-week rally of net losses according to the Farside Investors<\/a>.<\/p>\n\n\n\n

\"Bitcoin
Since the inception of Bitcoin spot ETF in the U.S., GBTC has recorded outflows every single trading day.<\/figcaption><\/figure>\n\n\n\n

Bloomberg ETF analyst Eric Balchunas expressed his surprise<\/a> on Twitter, stating, \"Holy crap $GBTC had inflows today,\" and noted that their nearly 80-day streak of outflows had ended. He humorously remarked on the significance of this change, asking his followers to rate how significant this turnaround was for GBTC.<\/p>\n\n\n\n

Despite these challenges, GBTC remains the largest Bitcoin spot ETF, managing over $18.7 billion in assets and holding approximately 297,000 Bitcoin. However, consistent withdrawals have allowed new entrants like the BlackRock iShares Bitcoin Trust (IBIT), which now has $17.2 billion in assets, to narrow the gap.<\/p>\n\n\n\n

This news comes shortly after a downturn for IBIT, which saw a reduction of $37 million just a day earlier, as per Farside Investors. This event was part of a broader trend that saw the ETF market experience its worst day ever, with a total outflow of $563 million amid a decline in Bitcoin prices.<\/p>\n\n\n\n

See Related:<\/em><\/strong> GBTC Price Prediction after Judges Raised Hope for Investors In Favour Of Grayscale<\/a><\/p>\n\n\n\n

Bitcoin ETF in Asia<\/h2>\n\n\n\n

Hong Kong has recently made strides in the cryptocurrency market with the introduction of spot exchange-traded funds (ETFs) for Bitcoin and Ethereum. This development reflects Hong Kong's growing embrace of digital currencies and its ambition to become a major hub for cryptocurrency trading and finance. <\/p>\n\n\n\n

The trading started last April 30 and shows $12 million in trading volume on its first day. Bitcoin spot ETF recorded a $8.5 million and Ethereum spot ETF $2.5 million in trading volume. <\/p>\n","post_title":"Grayscale Bitcoin Trust Rebounds With $63 Million Influx After 80-Day Drought","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"grayscale-bitcoin-trust-rebounds-with-63-million-influx-after-80-day-drought","to_ping":"","pinged":"","post_modified":"2024-05-06 23:24:54","post_modified_gmt":"2024-05-06 13:24:54","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16761","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":16722,"post_author":"15","post_date":"2024-05-04 02:07:14","post_date_gmt":"2024-05-03 16:07:14","post_content":"\n

Elliptic, a blockchain analysis firm, released a study <\/a>conducted with the MIT-IBM Watson AI Lab on Wednesday. This study utilized a deep learning AI model to identify money laundering patterns within Bitcoin transactions and pinpoint wallets involved in criminal activities.<\/p>\n\n\n\n

Bitcoin's use of a decentralized public ledger, a fundamental aspect of the technology, facilitated the research, according to Elliptic. The collaboration between Elliptic and MIT-IBM leveraged AI to distinguish between legal and illegal transactions, tracking connections within the latter to expose potential money laundering activities.<\/p>\n\n\n\n

Elliptic stated, \u201cBlockchains provide fertile ground for machine learning techniques, thanks to the availability of both transaction data and information on the types of entities that are transacting, collected by us and others. This is in contrast to traditional finance where transaction data is typically siloed, making it challenging to apply these techniques.\u201d<\/em><\/p>\n\n\n\n

Elliptic clarified that instead of directly identifying transactions by illicit actors, the machine learning model is trained to recognize 'subgraphs'\u2014sequences of transactions that depict the laundering of Bitcoin. This method focuses more broadly on the multi-step laundering process rather than specific illegal actions on the blockchain.<\/p>\n\n\n\n

See Related:<\/em><\/strong> Binance's $3.9 Billion USDT Transfer Sparks Speculation Amidst CEO's Guilty Plea<\/a><\/p>\n\n\n\n

Money Laundering in 2024 Reports<\/h2>\n\n\n\n

In 2023, the volume of cryptocurrency involved in money laundering activities decreased significantly, with centralized exchanges continuing as the primary channels for such transactions. DeFi protocols and gambling services saw an uptick in use for laundering, yet they generally lack the anonymity preferred by launderers.<\/p>\n\n\n\n

Sophisticated criminals, particularly North Korea's Lazarus Group, adapted to law enforcement tactics by employing new mixers and utilizing cross-chain bridges to launder funds. These methods allow them to obfuscate the origins of illicit funds more effectively across multiple blockchain platforms, demonstrating a dynamic shift in the techniques used by high-level criminal enterprises to evade detection.<\/p>\n","post_title":"AI Powers New Tool To Detect Illegal Bitcoin Transactions, Study Shows","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"ai-powers-new-tool-to-detect-illegal-bitcoin-transactions-study-shows","to_ping":"","pinged":"","post_modified":"2024-05-04 02:07:20","post_modified_gmt":"2024-05-03 16:07:20","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16722","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":16491,"post_author":"15","post_date":"2024-04-21 10:09:53","post_date_gmt":"2024-04-21 00:09:53","post_content":"\n

Entrepreneur and Dallas Mavericks owner Mark Cuban recently discussed the implications of the upcoming Bitcoin halving. He emphasized its significant impact on miner revenues.<\/p>\n\n\n\n

During an interview <\/a>with The Block, Cuban pointed out that the halving will reduce mining rewards from 6.25 BTC to 3.125 BTC, effectively slashing the income for bitcoin miners by nearly half. However, Cuban expressed greater curiosity about the role artificial intelligence (AI) might play in the mining sector, especially concerning the demand for GPUs.<\/p>\n\n\n\n

Cuban highlighted the intense competition between AI's needs for GPUs and cryptocurrency mining's demands. He questioned whether the economic landscape of mining could be altered by the booming AI industry, asking if it might be more profitable to utilize GPUs for AI model training rather than mining. This issue primarily affects miners using GPUs for cryptocurrencies other than Bitcoin, which typically relies on ASIC machines.<\/p>\n\n\n\n

The intersection of AI and cryptocurrency mining is already seeing practical applications, with companies like Xive and Hive Digital Technologies expanding into AI to bolster their primary mining operations. <\/p>\n\n\n\n

See Related:<\/em><\/strong> Cryptocurrency Statistics And Insights (2022)<\/a><\/p>\n\n\n\n

Bitcoin Halving is Coming<\/h2>\n\n\n\n

Bitcoin halving is a significant event in the cryptocurrency world that occurs approximately every four years, or after 210,000 blocks are mined. During a halving, bitcoin miners' reward for verifying transactions and adding them to the blockchain is reduced by half. This mechanism was designed by Satoshi Nakamoto, the anonymous creator of Bitcoin, to control inflation by limiting the total number of bitcoins that can ever be in circulation to 21 million.<\/p>\n\n\n\n

As of writing, the price of Bitcoin is at $63,760, and 2 blocks remaining until the next Bitcoin halving.<\/p>\n","post_title":"Bitcoin Halving To Slash Miner Earnings, Cuban Eyes AI Shift","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"bitcoin-halving-to-slash-miner-earnings-cuban-eyes-ai-shift","to_ping":"","pinged":"","post_modified":"2024-04-21 10:10:00","post_modified_gmt":"2024-04-21 00:10:00","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16491","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":16460,"post_author":"15","post_date":"2024-04-19 23:38:06","post_date_gmt":"2024-04-19 13:38:06","post_content":"\n

Binance, the leading global cryptocurrency exchange, is set to make a comeback in India after agreeing to pay a $2 million penalty. This development follows a period of stringent regulatory scrutiny where the Indian government blocked nine cryptocurrency websites. They also prompted the removal of related apps from Apple and Google stores due to non-compliance with local laws. <\/p>\n\n\n\n

According to the Economic Times<\/a>, sources close to the matter indicate that Binance is restructuring its operations in South Asia. The cryptocurrency exchange is planning to fully comply with the Financial Intelligence Unit of India, which regulates the local trading of digital assets.<\/p>\n\n\n\n

The move comes as part of Binance's efforts to align with India's financial regulations, including adherence to anti-money laundering and taxation statutes. Before the crackdown, Binance held a commanding presence in the Indian market, with an estimated 90% of crypto holdings among Indian investors, totaling about $4 billion.<\/p>\n\n\n\n

See Related:<\/em><\/strong> Indian Parliament Passes A 30% Crypto Tax Law<\/a><\/p>\n\n\n\n

Nigeria Detains Binance Executives<\/h2>\n\n\n\n

Two months ago, Nigeria detained two executives of the Binance after they flew into the country. The country's Office of the National Security Adviser detained the two, and their passports were seized. <\/p>\n\n\n\n

Nigerian officials have leveled several charges against the cryptocurrency exchange Binance. The allegation includes exploiting the local economy, contributing to the devaluation of the Nigerian naira, and engaging in money laundering activities. They allege that Binance has been involved in manipulating the exchange rates by engaging in speculative actions and fixing rates. Furthermore, the Nigerian government has expressed concerns over $26 billion in transactions carried out on Binance's platform, which they report as being untraceable.<\/p>\n\n\n\n

Binance has denied any wrongdoing, but this is not the first time it has bumped heads with regulators.<\/p>\n","post_title":"Binance Set To Re-enter Indian Market with $2 Million Fine Settlement","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"binance-set-to-re-enter-indian-market-with-2-million-fine-settlement","to_ping":"","pinged":"","post_modified":"2024-04-20 04:11:08","post_modified_gmt":"2024-04-19 18:11:08","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16460","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":16362,"post_author":"15","post_date":"2024-04-15 03:52:59","post_date_gmt":"2024-04-14 17:52:59","post_content":"\n

Hong Kong is on the brink of approving spot exchange-traded funds (ETFs) for bitcoin and ether, potentially by Monday, Bloomberg reports<\/a>. This anticipated approval is poised to influence the cryptocurrency markets in the near term. The ETFs, if launched, will enable investors to trade bitcoin and ether on regulated platforms, enhancing the legitimacy and stability of investing in cryptocurrencies.<\/p>\n\n\n\n

Bloomberg\u2019s sources suggest that if the Hong Kong Exchanges & Clearing can finalize the listing details promptly, trading could commence by the end of April. Harvest Global Investments and Bosera Asset Management, in collaboration with HashKey Capital, are frontrunners in receiving the first approvals for these spot cryptocurrency ETFs. This move could cement Hong Kong's position as a major hub for digital assets in Asia, particularly if it leads to a successful market response similar to the U.S., where the approval of bitcoin ETFs in January triggered a price rally, pushing bitcoin\u2019s value to $73,000.<\/p>\n\n\n\n

However, unlike in the U.S., where ether ETFs have not yet been approved, Hong Kong might take the lead in this area as well. The city's market regulator, the Securities and Futures Commission (SFC), has not commented on the developments. Similarly, inquiries to Harvest Global Investments, Bosera Asset Management, HashKey Capital, and HKEX received no immediate response.<\/p>\n\n\n\n

See Related: <\/em><\/strong>Hong Kong Invests Over $6.4M Into Web 3 Development<\/a><\/p>\n\n\n\n

Ether ETF Update<\/h2>\n\n\n\n

The U.S. Securities and Exchange Commission (SEC) has once again delayed its decision on the application for an Ether ETF. A new deadline is set for May 23<\/a>.<\/p>\n\n\n\n

Despite this, analysts remain cautiously optimistic, estimating a 60% chance<\/a> of eventual approval. These delays and the ongoing review process indicate that the SEC is maintaining a cautious approach towards the approval of Ether ETFs. It reflects the complexities involved in integrating such products into the financial system.<\/p>\n","post_title":"Hong Kong Set to Approve Bitcoin And Ether ETFs By Monday","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"hong-kong-set-to-approve-bitcoin-and-ether-etfs-by-monday","to_ping":"","pinged":"","post_modified":"2024-04-15 03:53:05","post_modified_gmt":"2024-04-14 17:53:05","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16362","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":16347,"post_author":"15","post_date":"2024-04-14 00:03:48","post_date_gmt":"2024-04-13 14:03:48","post_content":"\n

Bitfinex Securities El Salvador is initiating a tokenized debt offering to fund the development of a Hampton by Hilton hotel complex spanning 4,484 square meters at El Salvador International Airport.<\/p>\n\n\n\n

In January, Bitfinex Securities<\/a> became the inaugural regulated entity to obtain a license to operate in El Salvador under the country\u2019s newly enacted Digital Asset Securities Law. This move anticipated a surge in demand for regulated investment vehicles, following the successful introduction of U.S. spot bitcoin exchange-traded funds.<\/p>\n\n\n\n

At the time, the tokenized securities platform announced its acceptance of customer applications and outlined a pipeline of potential financial asset issuances projected to launch in the year's first half.<\/p>\n\n\n\n

The tokenized debt, issued by El Salvadoran firm Inversiones Laguardia S.A. de C.V., is poised to be the inaugural token to trade on the platform. Utilizing the Liquid Network, a Bitcoin sidechain, the token will be denoted as HILSV and traded against U.S. dollars and Tether\u2019s USDT stablecoin.<\/p>\n\n\n\n

See Related: <\/em><\/strong>El Salvador Businesses Barely Impacted By Bitcoins Legality<\/a><\/p>\n\n\n\n

El Salvador Leads The Way<\/h2>\n\n\n\n


El Salvador stands at the forefront of cryptocurrency adoption wherein Bitcoin is recognized as legal tender. Since June 2021, it has been the first country to embrace Bitcoin alongside the US dollar for everyday transactions, making significant strides in the global crypto landscape. <\/p>\n\n\n\n

Under President Nayib Bukele, the government has initiated a groundbreaking project, where the state purchases one Bitcoin daily to bolster its reserves. <\/p>\n","post_title":"Bitfinex Securities Launches Tokenized Debt Offering For A Hotel In El Salvador","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"bitfinex-securities-launches-tokenized-debt-offering-for-a-hotel-in-el-salvador","to_ping":"","pinged":"","post_modified":"2024-04-14 00:03:52","post_modified_gmt":"2024-04-13 14:03:52","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16347","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

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\n

Some countries, such as China and Kazakhstan, have responded to the high electricity demands of cryptocurrency mining by implementing strict regulations or outright bans on the practice.<\/p>\n\n\n\n

On the other, Oklahoma just recently legalized crypto mining in homes as long as it complies with the noise policy. This includes operating nodes for operations like staking.<\/p>\n","post_title":"Venezuela Cracks Down On Crypto Mining To Save Electricity","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"venezuela-cracks-down-on-crypto-mining-to-save-electricity","to_ping":"","pinged":"","post_modified":"2024-05-20 04:44:44","post_modified_gmt":"2024-05-19 18:44:44","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16985","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":16932,"post_author":"15","post_date":"2024-05-18 23:22:10","post_date_gmt":"2024-05-18 13:22:10","post_content":"\n

The world's second-largest asset manager announced <\/a>on Tuesday the appointment of Salim Ramji as its new CEO. Mr Ramji's new role will be effective on July 8. Unlike his predecessor Tim Buckley and the broader company, Ramji is a known supporter of Bitcoin.<\/p>\n\n\n\n

Bloomberg ETF analyst Eric Balchunas noted that this is the \"first time ever\" that Vanguard has hired externally for its top position. Balchunas, who was \"semi-shocked\" by the move, explained that previous CEOs were \"internal stars\" and former aides to the late founder John Bogle.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/EricBalchunas\/status\/1790498386203869352\n<\/div><\/figure>\n\n\n\n

Mr. Ramji is a seasoned financial services executive with over 25 years of experience in investments, capital markets, and wealth management. He spent a decade in senior leadership roles at BlackRock Inc., departing in January 2024. Most recently, he served as Global Head of iShares & Index Investing, overseeing the management of the majority of the firm's client assets and enhancing the iShares platform to offer a wider array of innovative, low-cost products for investors worldwide.<\/p>\n\n\n\n

See Related:<\/em><\/strong> SandStorm Launches On-Demand Metaverse Builds with 5 Virtual World Partners<\/a><\/p>\n\n\n\n

But Vanguard's Not A Bitcoin Lover<\/h2>\n\n\n\n

Vanguard has taken a different stance. In January, Bitcoin investors were surprised to find that Vanguard did not list Bitcoin spot ETFs from providers like BlackRock and Fidelity, citing inconsistencies with its \"investment philosophy.\"<\/p>\n\n\n\n

Balchunas pointed out that Vanguard inherited John Bogle's philosophy, favoring assets with intrinsic cash flow over commodities like BTC. In 2017, Bogle advised investors to \"avoid Bitcoin like the plague.\"<\/em><\/p>\n\n\n\n

\"Bitcoin is too volatile and not a store of value. It hasn't been, and it's very volatile,\"<\/em> Buckley said in a March interview. \"It's tough to see how it fits into a long-term portfolio.\"<\/em><\/p>\n\n\n\n

After over three decades at Vanguard, Buckley announced in February that he would retire by the end of the year, shortly after the Bitcoin ETFs went live. Many investors believed the timing was significant, suggesting Vanguard regretted missing out on the most successful ETF launch in history.<\/p>\n\n\n\n

\"I still think it's unlikely that this means Vanguard will launch a Bitcoin ETF (at least in the near term),\" <\/em>tweeted Bloomberg Intelligence's James Seyffart on Tuesday. \"But I think Salim could change Vanguard\u2019s stance on allowing their clients to buy spot Bitcoin ETFs on their brokerage platform.\"<\/em><\/p>\n","post_title":"Vanguard Hires Bitcoin Advocate Salim Ramji As New CEO","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"vanguard-hires-bitcoin-advocate-salim-ramji-as-new-ceo","to_ping":"","pinged":"","post_modified":"2024-05-18 23:22:16","post_modified_gmt":"2024-05-18 13:22:16","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16932","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":16843,"post_author":"15","post_date":"2024-05-13 00:31:20","post_date_gmt":"2024-05-12 14:31:20","post_content":"\n

Former U.S. President Donald Trump expressed his intention to enable the use of cryptocurrency for campaign donations. In videos <\/a>shared by NFT creator and influencer Frank Degods, Trump indicated to a group of NFT buyers his willingness to accept crypto donations for his campaign.<\/p>\n\n\n\n

He assured, \"If you can't, I'll make sure you can.\"<\/em> Additionally, he suggested that President Joe Biden lacks an understanding of cryptocurrency and urged crypto supporters to vote for him.<\/p>\n\n\n\n

Trump's remarks were made during a gathering he organized to meet with buyers of his \"Mugshot Edition\" NFTs. Attendees, who individually purchased over 47 NFTs priced at $99 each, were invited to a dinner on their day off from trial. Trump boasted about revitalizing interest in NFTs, stating, \"We made NFTs hot again.\"<\/p>\n\n\n\n

Regarding the crypto industry's presence in the U.S., Trump pledged to work towards retaining it, emphasizing the importance of embracing crypto businesses. His statements led to an 18.5% surge in the \"Jeo Boden\" memecoin, inspired by President Biden, according to CoinMarketCap data<\/a>. Trump expressed skepticism about the token's market capitalization, deeming it excessive.<\/p>\n\n\n\n

See Related: <\/em><\/strong>Trump Drops Series 2 Of Digital Trading Card NFTs On Polygon<\/a><\/p>\n\n\n\n

U.S. Presidency Candidates And Their Stance On Crypto<\/h2>\n\n\n\n

As the 2024 U.S. presidential election nears, candidates face scrutiny over their stance on cryptocurrency regulation. Republican nominee and former President Donald Trump has shown enthusiasm. <\/p>\n\n\n\n

On the other hand, the Democratic nominee emphasizes balanced regulation to safeguard consumers and curb illegal activities, reflecting broader party sentiments. However, within each party, there's a range of views, from advocating for stringent oversight to promoting innovation. With crypto's increasing impact across sectors, including finance and technology, the candidates' positions are poised to shape the industry's future and its interaction with the government.<\/p>\n","post_title":"Trump Pledges To Accept Cryptocurrency For Campaign Donations","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"trump-pledges-to-accept-cryptocurrency-for-campaign-donations","to_ping":"","pinged":"","post_modified":"2024-05-13 00:31:26","post_modified_gmt":"2024-05-12 14:31:26","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16843","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":16856,"post_author":"15","post_date":"2024-05-12 20:19:19","post_date_gmt":"2024-05-12 10:19:19","post_content":"\n

Wells Fargo, a prominent American bank, revealed its investments in several Bitcoin exchange-traded funds (ETFs) in a recent regulatory filing. This move aligns Wells Fargo with other institutions embracing crypto-based investment vehicles. <\/p>\n\n\n\n

According to the filing <\/a>with the U.S. Securities and Exchange Commission (SEC), the bank has purchased shares of Grayscale's GBTC spot Bitcoin ETF and has exposure to Bitcoin Depot Inc., a Bitcoin ATM provider. Additionally, the filing shows that Wells Fargo has invested in the ProShares Bitcoin Strategy ETF (BITO), which offers investors exposure to BTC futures\u2014contracts speculating on the future price of the asset.<\/p>\n\n\n\n

Despite these investments, Wells Fargo's exposure to Bitcoin ETFs remains relatively small. The filing indicates that its investment in GBTC amounts to $141,817, while its investment in ProShares is under $1,200. The exposure to Bitcoin Depot stands at just $99.<\/p>\n\n\n\n

This disclosure comes after a report in February suggested that Wells Fargo, along with Bank of America's Merrill division, was providing its wealth management clients with exposure to Bitcoin ETFs via brokerage accounts. Wells Fargo has shown repeated interest in digital assets and even piloted its digital currency back in 2019.<\/p>\n\n\n\n

See Related:<\/em><\/strong> Bitcoin ETFs Hit Mainstream: BofA\u2019s Merrill, Wells Fargo Now Offer Spot Trading<\/a><\/p>\n\n\n\n

Bitcoin spot ETF era<\/h2>\n\n\n\n

The SEC's approval of 11 spot BTC ETFs in January has led to significant success for these products. This success mirrors the soaring price of Bitcoin, which reached an all-time high of $73,747 in March. The Bitcoin spot ETF issuers now hold 847,427 BTC which is at $50 billion at the time of writing. <\/p>\n\n\n\n

Hong Kong recently approved and started trading Bitcoin and Ethereum spot ETF. <\/p>\n","post_title":"Wells Fargo Dips Toes Into Crypto With Bitcoin ETF Investments","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"wells-fargo-dips-toes-into-crypto-with-bitcoin-etf-investments","to_ping":"","pinged":"","post_modified":"2024-05-12 20:19:23","post_modified_gmt":"2024-05-12 10:19:23","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16856","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":16761,"post_author":"15","post_date":"2024-05-06 23:24:50","post_date_gmt":"2024-05-06 13:24:50","post_content":"\n

The Grayscale Bitcoin Trust ETF ($GBTC) recently experienced a shift in its financial trend. It registers an inflow of $63 million and breaks an 11-week rally of net losses according to the Farside Investors<\/a>.<\/p>\n\n\n\n

\"Bitcoin
Since the inception of Bitcoin spot ETF in the U.S., GBTC has recorded outflows every single trading day.<\/figcaption><\/figure>\n\n\n\n

Bloomberg ETF analyst Eric Balchunas expressed his surprise<\/a> on Twitter, stating, \"Holy crap $GBTC had inflows today,\" and noted that their nearly 80-day streak of outflows had ended. He humorously remarked on the significance of this change, asking his followers to rate how significant this turnaround was for GBTC.<\/p>\n\n\n\n

Despite these challenges, GBTC remains the largest Bitcoin spot ETF, managing over $18.7 billion in assets and holding approximately 297,000 Bitcoin. However, consistent withdrawals have allowed new entrants like the BlackRock iShares Bitcoin Trust (IBIT), which now has $17.2 billion in assets, to narrow the gap.<\/p>\n\n\n\n

This news comes shortly after a downturn for IBIT, which saw a reduction of $37 million just a day earlier, as per Farside Investors. This event was part of a broader trend that saw the ETF market experience its worst day ever, with a total outflow of $563 million amid a decline in Bitcoin prices.<\/p>\n\n\n\n

See Related:<\/em><\/strong> GBTC Price Prediction after Judges Raised Hope for Investors In Favour Of Grayscale<\/a><\/p>\n\n\n\n

Bitcoin ETF in Asia<\/h2>\n\n\n\n

Hong Kong has recently made strides in the cryptocurrency market with the introduction of spot exchange-traded funds (ETFs) for Bitcoin and Ethereum. This development reflects Hong Kong's growing embrace of digital currencies and its ambition to become a major hub for cryptocurrency trading and finance. <\/p>\n\n\n\n

The trading started last April 30 and shows $12 million in trading volume on its first day. Bitcoin spot ETF recorded a $8.5 million and Ethereum spot ETF $2.5 million in trading volume. <\/p>\n","post_title":"Grayscale Bitcoin Trust Rebounds With $63 Million Influx After 80-Day Drought","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"grayscale-bitcoin-trust-rebounds-with-63-million-influx-after-80-day-drought","to_ping":"","pinged":"","post_modified":"2024-05-06 23:24:54","post_modified_gmt":"2024-05-06 13:24:54","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16761","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":16722,"post_author":"15","post_date":"2024-05-04 02:07:14","post_date_gmt":"2024-05-03 16:07:14","post_content":"\n

Elliptic, a blockchain analysis firm, released a study <\/a>conducted with the MIT-IBM Watson AI Lab on Wednesday. This study utilized a deep learning AI model to identify money laundering patterns within Bitcoin transactions and pinpoint wallets involved in criminal activities.<\/p>\n\n\n\n

Bitcoin's use of a decentralized public ledger, a fundamental aspect of the technology, facilitated the research, according to Elliptic. The collaboration between Elliptic and MIT-IBM leveraged AI to distinguish between legal and illegal transactions, tracking connections within the latter to expose potential money laundering activities.<\/p>\n\n\n\n

Elliptic stated, \u201cBlockchains provide fertile ground for machine learning techniques, thanks to the availability of both transaction data and information on the types of entities that are transacting, collected by us and others. This is in contrast to traditional finance where transaction data is typically siloed, making it challenging to apply these techniques.\u201d<\/em><\/p>\n\n\n\n

Elliptic clarified that instead of directly identifying transactions by illicit actors, the machine learning model is trained to recognize 'subgraphs'\u2014sequences of transactions that depict the laundering of Bitcoin. This method focuses more broadly on the multi-step laundering process rather than specific illegal actions on the blockchain.<\/p>\n\n\n\n

See Related:<\/em><\/strong> Binance's $3.9 Billion USDT Transfer Sparks Speculation Amidst CEO's Guilty Plea<\/a><\/p>\n\n\n\n

Money Laundering in 2024 Reports<\/h2>\n\n\n\n

In 2023, the volume of cryptocurrency involved in money laundering activities decreased significantly, with centralized exchanges continuing as the primary channels for such transactions. DeFi protocols and gambling services saw an uptick in use for laundering, yet they generally lack the anonymity preferred by launderers.<\/p>\n\n\n\n

Sophisticated criminals, particularly North Korea's Lazarus Group, adapted to law enforcement tactics by employing new mixers and utilizing cross-chain bridges to launder funds. These methods allow them to obfuscate the origins of illicit funds more effectively across multiple blockchain platforms, demonstrating a dynamic shift in the techniques used by high-level criminal enterprises to evade detection.<\/p>\n","post_title":"AI Powers New Tool To Detect Illegal Bitcoin Transactions, Study Shows","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"ai-powers-new-tool-to-detect-illegal-bitcoin-transactions-study-shows","to_ping":"","pinged":"","post_modified":"2024-05-04 02:07:20","post_modified_gmt":"2024-05-03 16:07:20","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16722","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":16491,"post_author":"15","post_date":"2024-04-21 10:09:53","post_date_gmt":"2024-04-21 00:09:53","post_content":"\n

Entrepreneur and Dallas Mavericks owner Mark Cuban recently discussed the implications of the upcoming Bitcoin halving. He emphasized its significant impact on miner revenues.<\/p>\n\n\n\n

During an interview <\/a>with The Block, Cuban pointed out that the halving will reduce mining rewards from 6.25 BTC to 3.125 BTC, effectively slashing the income for bitcoin miners by nearly half. However, Cuban expressed greater curiosity about the role artificial intelligence (AI) might play in the mining sector, especially concerning the demand for GPUs.<\/p>\n\n\n\n

Cuban highlighted the intense competition between AI's needs for GPUs and cryptocurrency mining's demands. He questioned whether the economic landscape of mining could be altered by the booming AI industry, asking if it might be more profitable to utilize GPUs for AI model training rather than mining. This issue primarily affects miners using GPUs for cryptocurrencies other than Bitcoin, which typically relies on ASIC machines.<\/p>\n\n\n\n

The intersection of AI and cryptocurrency mining is already seeing practical applications, with companies like Xive and Hive Digital Technologies expanding into AI to bolster their primary mining operations. <\/p>\n\n\n\n

See Related:<\/em><\/strong> Cryptocurrency Statistics And Insights (2022)<\/a><\/p>\n\n\n\n

Bitcoin Halving is Coming<\/h2>\n\n\n\n

Bitcoin halving is a significant event in the cryptocurrency world that occurs approximately every four years, or after 210,000 blocks are mined. During a halving, bitcoin miners' reward for verifying transactions and adding them to the blockchain is reduced by half. This mechanism was designed by Satoshi Nakamoto, the anonymous creator of Bitcoin, to control inflation by limiting the total number of bitcoins that can ever be in circulation to 21 million.<\/p>\n\n\n\n

As of writing, the price of Bitcoin is at $63,760, and 2 blocks remaining until the next Bitcoin halving.<\/p>\n","post_title":"Bitcoin Halving To Slash Miner Earnings, Cuban Eyes AI Shift","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"bitcoin-halving-to-slash-miner-earnings-cuban-eyes-ai-shift","to_ping":"","pinged":"","post_modified":"2024-04-21 10:10:00","post_modified_gmt":"2024-04-21 00:10:00","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16491","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":16460,"post_author":"15","post_date":"2024-04-19 23:38:06","post_date_gmt":"2024-04-19 13:38:06","post_content":"\n

Binance, the leading global cryptocurrency exchange, is set to make a comeback in India after agreeing to pay a $2 million penalty. This development follows a period of stringent regulatory scrutiny where the Indian government blocked nine cryptocurrency websites. They also prompted the removal of related apps from Apple and Google stores due to non-compliance with local laws. <\/p>\n\n\n\n

According to the Economic Times<\/a>, sources close to the matter indicate that Binance is restructuring its operations in South Asia. The cryptocurrency exchange is planning to fully comply with the Financial Intelligence Unit of India, which regulates the local trading of digital assets.<\/p>\n\n\n\n

The move comes as part of Binance's efforts to align with India's financial regulations, including adherence to anti-money laundering and taxation statutes. Before the crackdown, Binance held a commanding presence in the Indian market, with an estimated 90% of crypto holdings among Indian investors, totaling about $4 billion.<\/p>\n\n\n\n

See Related:<\/em><\/strong> Indian Parliament Passes A 30% Crypto Tax Law<\/a><\/p>\n\n\n\n

Nigeria Detains Binance Executives<\/h2>\n\n\n\n

Two months ago, Nigeria detained two executives of the Binance after they flew into the country. The country's Office of the National Security Adviser detained the two, and their passports were seized. <\/p>\n\n\n\n

Nigerian officials have leveled several charges against the cryptocurrency exchange Binance. The allegation includes exploiting the local economy, contributing to the devaluation of the Nigerian naira, and engaging in money laundering activities. They allege that Binance has been involved in manipulating the exchange rates by engaging in speculative actions and fixing rates. Furthermore, the Nigerian government has expressed concerns over $26 billion in transactions carried out on Binance's platform, which they report as being untraceable.<\/p>\n\n\n\n

Binance has denied any wrongdoing, but this is not the first time it has bumped heads with regulators.<\/p>\n","post_title":"Binance Set To Re-enter Indian Market with $2 Million Fine Settlement","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"binance-set-to-re-enter-indian-market-with-2-million-fine-settlement","to_ping":"","pinged":"","post_modified":"2024-04-20 04:11:08","post_modified_gmt":"2024-04-19 18:11:08","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16460","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":16362,"post_author":"15","post_date":"2024-04-15 03:52:59","post_date_gmt":"2024-04-14 17:52:59","post_content":"\n

Hong Kong is on the brink of approving spot exchange-traded funds (ETFs) for bitcoin and ether, potentially by Monday, Bloomberg reports<\/a>. This anticipated approval is poised to influence the cryptocurrency markets in the near term. The ETFs, if launched, will enable investors to trade bitcoin and ether on regulated platforms, enhancing the legitimacy and stability of investing in cryptocurrencies.<\/p>\n\n\n\n

Bloomberg\u2019s sources suggest that if the Hong Kong Exchanges & Clearing can finalize the listing details promptly, trading could commence by the end of April. Harvest Global Investments and Bosera Asset Management, in collaboration with HashKey Capital, are frontrunners in receiving the first approvals for these spot cryptocurrency ETFs. This move could cement Hong Kong's position as a major hub for digital assets in Asia, particularly if it leads to a successful market response similar to the U.S., where the approval of bitcoin ETFs in January triggered a price rally, pushing bitcoin\u2019s value to $73,000.<\/p>\n\n\n\n

However, unlike in the U.S., where ether ETFs have not yet been approved, Hong Kong might take the lead in this area as well. The city's market regulator, the Securities and Futures Commission (SFC), has not commented on the developments. Similarly, inquiries to Harvest Global Investments, Bosera Asset Management, HashKey Capital, and HKEX received no immediate response.<\/p>\n\n\n\n

See Related: <\/em><\/strong>Hong Kong Invests Over $6.4M Into Web 3 Development<\/a><\/p>\n\n\n\n

Ether ETF Update<\/h2>\n\n\n\n

The U.S. Securities and Exchange Commission (SEC) has once again delayed its decision on the application for an Ether ETF. A new deadline is set for May 23<\/a>.<\/p>\n\n\n\n

Despite this, analysts remain cautiously optimistic, estimating a 60% chance<\/a> of eventual approval. These delays and the ongoing review process indicate that the SEC is maintaining a cautious approach towards the approval of Ether ETFs. It reflects the complexities involved in integrating such products into the financial system.<\/p>\n","post_title":"Hong Kong Set to Approve Bitcoin And Ether ETFs By Monday","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"hong-kong-set-to-approve-bitcoin-and-ether-etfs-by-monday","to_ping":"","pinged":"","post_modified":"2024-04-15 03:53:05","post_modified_gmt":"2024-04-14 17:53:05","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16362","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":16347,"post_author":"15","post_date":"2024-04-14 00:03:48","post_date_gmt":"2024-04-13 14:03:48","post_content":"\n

Bitfinex Securities El Salvador is initiating a tokenized debt offering to fund the development of a Hampton by Hilton hotel complex spanning 4,484 square meters at El Salvador International Airport.<\/p>\n\n\n\n

In January, Bitfinex Securities<\/a> became the inaugural regulated entity to obtain a license to operate in El Salvador under the country\u2019s newly enacted Digital Asset Securities Law. This move anticipated a surge in demand for regulated investment vehicles, following the successful introduction of U.S. spot bitcoin exchange-traded funds.<\/p>\n\n\n\n

At the time, the tokenized securities platform announced its acceptance of customer applications and outlined a pipeline of potential financial asset issuances projected to launch in the year's first half.<\/p>\n\n\n\n

The tokenized debt, issued by El Salvadoran firm Inversiones Laguardia S.A. de C.V., is poised to be the inaugural token to trade on the platform. Utilizing the Liquid Network, a Bitcoin sidechain, the token will be denoted as HILSV and traded against U.S. dollars and Tether\u2019s USDT stablecoin.<\/p>\n\n\n\n

See Related: <\/em><\/strong>El Salvador Businesses Barely Impacted By Bitcoins Legality<\/a><\/p>\n\n\n\n

El Salvador Leads The Way<\/h2>\n\n\n\n


El Salvador stands at the forefront of cryptocurrency adoption wherein Bitcoin is recognized as legal tender. Since June 2021, it has been the first country to embrace Bitcoin alongside the US dollar for everyday transactions, making significant strides in the global crypto landscape. <\/p>\n\n\n\n

Under President Nayib Bukele, the government has initiated a groundbreaking project, where the state purchases one Bitcoin daily to bolster its reserves. <\/p>\n","post_title":"Bitfinex Securities Launches Tokenized Debt Offering For A Hotel In El Salvador","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"bitfinex-securities-launches-tokenized-debt-offering-for-a-hotel-in-el-salvador","to_ping":"","pinged":"","post_modified":"2024-04-14 00:03:52","post_modified_gmt":"2024-04-13 14:03:52","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16347","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

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\n

Other Countries' Approaches<\/h2>\n\n\n\n

Some countries, such as China and Kazakhstan, have responded to the high electricity demands of cryptocurrency mining by implementing strict regulations or outright bans on the practice.<\/p>\n\n\n\n

On the other, Oklahoma just recently legalized crypto mining in homes as long as it complies with the noise policy. This includes operating nodes for operations like staking.<\/p>\n","post_title":"Venezuela Cracks Down On Crypto Mining To Save Electricity","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"venezuela-cracks-down-on-crypto-mining-to-save-electricity","to_ping":"","pinged":"","post_modified":"2024-05-20 04:44:44","post_modified_gmt":"2024-05-19 18:44:44","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16985","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":16932,"post_author":"15","post_date":"2024-05-18 23:22:10","post_date_gmt":"2024-05-18 13:22:10","post_content":"\n

The world's second-largest asset manager announced <\/a>on Tuesday the appointment of Salim Ramji as its new CEO. Mr Ramji's new role will be effective on July 8. Unlike his predecessor Tim Buckley and the broader company, Ramji is a known supporter of Bitcoin.<\/p>\n\n\n\n

Bloomberg ETF analyst Eric Balchunas noted that this is the \"first time ever\" that Vanguard has hired externally for its top position. Balchunas, who was \"semi-shocked\" by the move, explained that previous CEOs were \"internal stars\" and former aides to the late founder John Bogle.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/EricBalchunas\/status\/1790498386203869352\n<\/div><\/figure>\n\n\n\n

Mr. Ramji is a seasoned financial services executive with over 25 years of experience in investments, capital markets, and wealth management. He spent a decade in senior leadership roles at BlackRock Inc., departing in January 2024. Most recently, he served as Global Head of iShares & Index Investing, overseeing the management of the majority of the firm's client assets and enhancing the iShares platform to offer a wider array of innovative, low-cost products for investors worldwide.<\/p>\n\n\n\n

See Related:<\/em><\/strong> SandStorm Launches On-Demand Metaverse Builds with 5 Virtual World Partners<\/a><\/p>\n\n\n\n

But Vanguard's Not A Bitcoin Lover<\/h2>\n\n\n\n

Vanguard has taken a different stance. In January, Bitcoin investors were surprised to find that Vanguard did not list Bitcoin spot ETFs from providers like BlackRock and Fidelity, citing inconsistencies with its \"investment philosophy.\"<\/p>\n\n\n\n

Balchunas pointed out that Vanguard inherited John Bogle's philosophy, favoring assets with intrinsic cash flow over commodities like BTC. In 2017, Bogle advised investors to \"avoid Bitcoin like the plague.\"<\/em><\/p>\n\n\n\n

\"Bitcoin is too volatile and not a store of value. It hasn't been, and it's very volatile,\"<\/em> Buckley said in a March interview. \"It's tough to see how it fits into a long-term portfolio.\"<\/em><\/p>\n\n\n\n

After over three decades at Vanguard, Buckley announced in February that he would retire by the end of the year, shortly after the Bitcoin ETFs went live. Many investors believed the timing was significant, suggesting Vanguard regretted missing out on the most successful ETF launch in history.<\/p>\n\n\n\n

\"I still think it's unlikely that this means Vanguard will launch a Bitcoin ETF (at least in the near term),\" <\/em>tweeted Bloomberg Intelligence's James Seyffart on Tuesday. \"But I think Salim could change Vanguard\u2019s stance on allowing their clients to buy spot Bitcoin ETFs on their brokerage platform.\"<\/em><\/p>\n","post_title":"Vanguard Hires Bitcoin Advocate Salim Ramji As New CEO","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"vanguard-hires-bitcoin-advocate-salim-ramji-as-new-ceo","to_ping":"","pinged":"","post_modified":"2024-05-18 23:22:16","post_modified_gmt":"2024-05-18 13:22:16","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16932","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":16843,"post_author":"15","post_date":"2024-05-13 00:31:20","post_date_gmt":"2024-05-12 14:31:20","post_content":"\n

Former U.S. President Donald Trump expressed his intention to enable the use of cryptocurrency for campaign donations. In videos <\/a>shared by NFT creator and influencer Frank Degods, Trump indicated to a group of NFT buyers his willingness to accept crypto donations for his campaign.<\/p>\n\n\n\n

He assured, \"If you can't, I'll make sure you can.\"<\/em> Additionally, he suggested that President Joe Biden lacks an understanding of cryptocurrency and urged crypto supporters to vote for him.<\/p>\n\n\n\n

Trump's remarks were made during a gathering he organized to meet with buyers of his \"Mugshot Edition\" NFTs. Attendees, who individually purchased over 47 NFTs priced at $99 each, were invited to a dinner on their day off from trial. Trump boasted about revitalizing interest in NFTs, stating, \"We made NFTs hot again.\"<\/p>\n\n\n\n

Regarding the crypto industry's presence in the U.S., Trump pledged to work towards retaining it, emphasizing the importance of embracing crypto businesses. His statements led to an 18.5% surge in the \"Jeo Boden\" memecoin, inspired by President Biden, according to CoinMarketCap data<\/a>. Trump expressed skepticism about the token's market capitalization, deeming it excessive.<\/p>\n\n\n\n

See Related: <\/em><\/strong>Trump Drops Series 2 Of Digital Trading Card NFTs On Polygon<\/a><\/p>\n\n\n\n

U.S. Presidency Candidates And Their Stance On Crypto<\/h2>\n\n\n\n

As the 2024 U.S. presidential election nears, candidates face scrutiny over their stance on cryptocurrency regulation. Republican nominee and former President Donald Trump has shown enthusiasm. <\/p>\n\n\n\n

On the other hand, the Democratic nominee emphasizes balanced regulation to safeguard consumers and curb illegal activities, reflecting broader party sentiments. However, within each party, there's a range of views, from advocating for stringent oversight to promoting innovation. With crypto's increasing impact across sectors, including finance and technology, the candidates' positions are poised to shape the industry's future and its interaction with the government.<\/p>\n","post_title":"Trump Pledges To Accept Cryptocurrency For Campaign Donations","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"trump-pledges-to-accept-cryptocurrency-for-campaign-donations","to_ping":"","pinged":"","post_modified":"2024-05-13 00:31:26","post_modified_gmt":"2024-05-12 14:31:26","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16843","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":16856,"post_author":"15","post_date":"2024-05-12 20:19:19","post_date_gmt":"2024-05-12 10:19:19","post_content":"\n

Wells Fargo, a prominent American bank, revealed its investments in several Bitcoin exchange-traded funds (ETFs) in a recent regulatory filing. This move aligns Wells Fargo with other institutions embracing crypto-based investment vehicles. <\/p>\n\n\n\n

According to the filing <\/a>with the U.S. Securities and Exchange Commission (SEC), the bank has purchased shares of Grayscale's GBTC spot Bitcoin ETF and has exposure to Bitcoin Depot Inc., a Bitcoin ATM provider. Additionally, the filing shows that Wells Fargo has invested in the ProShares Bitcoin Strategy ETF (BITO), which offers investors exposure to BTC futures\u2014contracts speculating on the future price of the asset.<\/p>\n\n\n\n

Despite these investments, Wells Fargo's exposure to Bitcoin ETFs remains relatively small. The filing indicates that its investment in GBTC amounts to $141,817, while its investment in ProShares is under $1,200. The exposure to Bitcoin Depot stands at just $99.<\/p>\n\n\n\n

This disclosure comes after a report in February suggested that Wells Fargo, along with Bank of America's Merrill division, was providing its wealth management clients with exposure to Bitcoin ETFs via brokerage accounts. Wells Fargo has shown repeated interest in digital assets and even piloted its digital currency back in 2019.<\/p>\n\n\n\n

See Related:<\/em><\/strong> Bitcoin ETFs Hit Mainstream: BofA\u2019s Merrill, Wells Fargo Now Offer Spot Trading<\/a><\/p>\n\n\n\n

Bitcoin spot ETF era<\/h2>\n\n\n\n

The SEC's approval of 11 spot BTC ETFs in January has led to significant success for these products. This success mirrors the soaring price of Bitcoin, which reached an all-time high of $73,747 in March. The Bitcoin spot ETF issuers now hold 847,427 BTC which is at $50 billion at the time of writing. <\/p>\n\n\n\n

Hong Kong recently approved and started trading Bitcoin and Ethereum spot ETF. <\/p>\n","post_title":"Wells Fargo Dips Toes Into Crypto With Bitcoin ETF Investments","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"wells-fargo-dips-toes-into-crypto-with-bitcoin-etf-investments","to_ping":"","pinged":"","post_modified":"2024-05-12 20:19:23","post_modified_gmt":"2024-05-12 10:19:23","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16856","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":16761,"post_author":"15","post_date":"2024-05-06 23:24:50","post_date_gmt":"2024-05-06 13:24:50","post_content":"\n

The Grayscale Bitcoin Trust ETF ($GBTC) recently experienced a shift in its financial trend. It registers an inflow of $63 million and breaks an 11-week rally of net losses according to the Farside Investors<\/a>.<\/p>\n\n\n\n

\"Bitcoin
Since the inception of Bitcoin spot ETF in the U.S., GBTC has recorded outflows every single trading day.<\/figcaption><\/figure>\n\n\n\n

Bloomberg ETF analyst Eric Balchunas expressed his surprise<\/a> on Twitter, stating, \"Holy crap $GBTC had inflows today,\" and noted that their nearly 80-day streak of outflows had ended. He humorously remarked on the significance of this change, asking his followers to rate how significant this turnaround was for GBTC.<\/p>\n\n\n\n

Despite these challenges, GBTC remains the largest Bitcoin spot ETF, managing over $18.7 billion in assets and holding approximately 297,000 Bitcoin. However, consistent withdrawals have allowed new entrants like the BlackRock iShares Bitcoin Trust (IBIT), which now has $17.2 billion in assets, to narrow the gap.<\/p>\n\n\n\n

This news comes shortly after a downturn for IBIT, which saw a reduction of $37 million just a day earlier, as per Farside Investors. This event was part of a broader trend that saw the ETF market experience its worst day ever, with a total outflow of $563 million amid a decline in Bitcoin prices.<\/p>\n\n\n\n

See Related:<\/em><\/strong> GBTC Price Prediction after Judges Raised Hope for Investors In Favour Of Grayscale<\/a><\/p>\n\n\n\n

Bitcoin ETF in Asia<\/h2>\n\n\n\n

Hong Kong has recently made strides in the cryptocurrency market with the introduction of spot exchange-traded funds (ETFs) for Bitcoin and Ethereum. This development reflects Hong Kong's growing embrace of digital currencies and its ambition to become a major hub for cryptocurrency trading and finance. <\/p>\n\n\n\n

The trading started last April 30 and shows $12 million in trading volume on its first day. Bitcoin spot ETF recorded a $8.5 million and Ethereum spot ETF $2.5 million in trading volume. <\/p>\n","post_title":"Grayscale Bitcoin Trust Rebounds With $63 Million Influx After 80-Day Drought","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"grayscale-bitcoin-trust-rebounds-with-63-million-influx-after-80-day-drought","to_ping":"","pinged":"","post_modified":"2024-05-06 23:24:54","post_modified_gmt":"2024-05-06 13:24:54","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16761","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":16722,"post_author":"15","post_date":"2024-05-04 02:07:14","post_date_gmt":"2024-05-03 16:07:14","post_content":"\n

Elliptic, a blockchain analysis firm, released a study <\/a>conducted with the MIT-IBM Watson AI Lab on Wednesday. This study utilized a deep learning AI model to identify money laundering patterns within Bitcoin transactions and pinpoint wallets involved in criminal activities.<\/p>\n\n\n\n

Bitcoin's use of a decentralized public ledger, a fundamental aspect of the technology, facilitated the research, according to Elliptic. The collaboration between Elliptic and MIT-IBM leveraged AI to distinguish between legal and illegal transactions, tracking connections within the latter to expose potential money laundering activities.<\/p>\n\n\n\n

Elliptic stated, \u201cBlockchains provide fertile ground for machine learning techniques, thanks to the availability of both transaction data and information on the types of entities that are transacting, collected by us and others. This is in contrast to traditional finance where transaction data is typically siloed, making it challenging to apply these techniques.\u201d<\/em><\/p>\n\n\n\n

Elliptic clarified that instead of directly identifying transactions by illicit actors, the machine learning model is trained to recognize 'subgraphs'\u2014sequences of transactions that depict the laundering of Bitcoin. This method focuses more broadly on the multi-step laundering process rather than specific illegal actions on the blockchain.<\/p>\n\n\n\n

See Related:<\/em><\/strong> Binance's $3.9 Billion USDT Transfer Sparks Speculation Amidst CEO's Guilty Plea<\/a><\/p>\n\n\n\n

Money Laundering in 2024 Reports<\/h2>\n\n\n\n

In 2023, the volume of cryptocurrency involved in money laundering activities decreased significantly, with centralized exchanges continuing as the primary channels for such transactions. DeFi protocols and gambling services saw an uptick in use for laundering, yet they generally lack the anonymity preferred by launderers.<\/p>\n\n\n\n

Sophisticated criminals, particularly North Korea's Lazarus Group, adapted to law enforcement tactics by employing new mixers and utilizing cross-chain bridges to launder funds. These methods allow them to obfuscate the origins of illicit funds more effectively across multiple blockchain platforms, demonstrating a dynamic shift in the techniques used by high-level criminal enterprises to evade detection.<\/p>\n","post_title":"AI Powers New Tool To Detect Illegal Bitcoin Transactions, Study Shows","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"ai-powers-new-tool-to-detect-illegal-bitcoin-transactions-study-shows","to_ping":"","pinged":"","post_modified":"2024-05-04 02:07:20","post_modified_gmt":"2024-05-03 16:07:20","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16722","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":16491,"post_author":"15","post_date":"2024-04-21 10:09:53","post_date_gmt":"2024-04-21 00:09:53","post_content":"\n

Entrepreneur and Dallas Mavericks owner Mark Cuban recently discussed the implications of the upcoming Bitcoin halving. He emphasized its significant impact on miner revenues.<\/p>\n\n\n\n

During an interview <\/a>with The Block, Cuban pointed out that the halving will reduce mining rewards from 6.25 BTC to 3.125 BTC, effectively slashing the income for bitcoin miners by nearly half. However, Cuban expressed greater curiosity about the role artificial intelligence (AI) might play in the mining sector, especially concerning the demand for GPUs.<\/p>\n\n\n\n

Cuban highlighted the intense competition between AI's needs for GPUs and cryptocurrency mining's demands. He questioned whether the economic landscape of mining could be altered by the booming AI industry, asking if it might be more profitable to utilize GPUs for AI model training rather than mining. This issue primarily affects miners using GPUs for cryptocurrencies other than Bitcoin, which typically relies on ASIC machines.<\/p>\n\n\n\n

The intersection of AI and cryptocurrency mining is already seeing practical applications, with companies like Xive and Hive Digital Technologies expanding into AI to bolster their primary mining operations. <\/p>\n\n\n\n

See Related:<\/em><\/strong> Cryptocurrency Statistics And Insights (2022)<\/a><\/p>\n\n\n\n

Bitcoin Halving is Coming<\/h2>\n\n\n\n

Bitcoin halving is a significant event in the cryptocurrency world that occurs approximately every four years, or after 210,000 blocks are mined. During a halving, bitcoin miners' reward for verifying transactions and adding them to the blockchain is reduced by half. This mechanism was designed by Satoshi Nakamoto, the anonymous creator of Bitcoin, to control inflation by limiting the total number of bitcoins that can ever be in circulation to 21 million.<\/p>\n\n\n\n

As of writing, the price of Bitcoin is at $63,760, and 2 blocks remaining until the next Bitcoin halving.<\/p>\n","post_title":"Bitcoin Halving To Slash Miner Earnings, Cuban Eyes AI Shift","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"bitcoin-halving-to-slash-miner-earnings-cuban-eyes-ai-shift","to_ping":"","pinged":"","post_modified":"2024-04-21 10:10:00","post_modified_gmt":"2024-04-21 00:10:00","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16491","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":16460,"post_author":"15","post_date":"2024-04-19 23:38:06","post_date_gmt":"2024-04-19 13:38:06","post_content":"\n

Binance, the leading global cryptocurrency exchange, is set to make a comeback in India after agreeing to pay a $2 million penalty. This development follows a period of stringent regulatory scrutiny where the Indian government blocked nine cryptocurrency websites. They also prompted the removal of related apps from Apple and Google stores due to non-compliance with local laws. <\/p>\n\n\n\n

According to the Economic Times<\/a>, sources close to the matter indicate that Binance is restructuring its operations in South Asia. The cryptocurrency exchange is planning to fully comply with the Financial Intelligence Unit of India, which regulates the local trading of digital assets.<\/p>\n\n\n\n

The move comes as part of Binance's efforts to align with India's financial regulations, including adherence to anti-money laundering and taxation statutes. Before the crackdown, Binance held a commanding presence in the Indian market, with an estimated 90% of crypto holdings among Indian investors, totaling about $4 billion.<\/p>\n\n\n\n

See Related:<\/em><\/strong> Indian Parliament Passes A 30% Crypto Tax Law<\/a><\/p>\n\n\n\n

Nigeria Detains Binance Executives<\/h2>\n\n\n\n

Two months ago, Nigeria detained two executives of the Binance after they flew into the country. The country's Office of the National Security Adviser detained the two, and their passports were seized. <\/p>\n\n\n\n

Nigerian officials have leveled several charges against the cryptocurrency exchange Binance. The allegation includes exploiting the local economy, contributing to the devaluation of the Nigerian naira, and engaging in money laundering activities. They allege that Binance has been involved in manipulating the exchange rates by engaging in speculative actions and fixing rates. Furthermore, the Nigerian government has expressed concerns over $26 billion in transactions carried out on Binance's platform, which they report as being untraceable.<\/p>\n\n\n\n

Binance has denied any wrongdoing, but this is not the first time it has bumped heads with regulators.<\/p>\n","post_title":"Binance Set To Re-enter Indian Market with $2 Million Fine Settlement","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"binance-set-to-re-enter-indian-market-with-2-million-fine-settlement","to_ping":"","pinged":"","post_modified":"2024-04-20 04:11:08","post_modified_gmt":"2024-04-19 18:11:08","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16460","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":16362,"post_author":"15","post_date":"2024-04-15 03:52:59","post_date_gmt":"2024-04-14 17:52:59","post_content":"\n

Hong Kong is on the brink of approving spot exchange-traded funds (ETFs) for bitcoin and ether, potentially by Monday, Bloomberg reports<\/a>. This anticipated approval is poised to influence the cryptocurrency markets in the near term. The ETFs, if launched, will enable investors to trade bitcoin and ether on regulated platforms, enhancing the legitimacy and stability of investing in cryptocurrencies.<\/p>\n\n\n\n

Bloomberg\u2019s sources suggest that if the Hong Kong Exchanges & Clearing can finalize the listing details promptly, trading could commence by the end of April. Harvest Global Investments and Bosera Asset Management, in collaboration with HashKey Capital, are frontrunners in receiving the first approvals for these spot cryptocurrency ETFs. This move could cement Hong Kong's position as a major hub for digital assets in Asia, particularly if it leads to a successful market response similar to the U.S., where the approval of bitcoin ETFs in January triggered a price rally, pushing bitcoin\u2019s value to $73,000.<\/p>\n\n\n\n

However, unlike in the U.S., where ether ETFs have not yet been approved, Hong Kong might take the lead in this area as well. The city's market regulator, the Securities and Futures Commission (SFC), has not commented on the developments. Similarly, inquiries to Harvest Global Investments, Bosera Asset Management, HashKey Capital, and HKEX received no immediate response.<\/p>\n\n\n\n

See Related: <\/em><\/strong>Hong Kong Invests Over $6.4M Into Web 3 Development<\/a><\/p>\n\n\n\n

Ether ETF Update<\/h2>\n\n\n\n

The U.S. Securities and Exchange Commission (SEC) has once again delayed its decision on the application for an Ether ETF. A new deadline is set for May 23<\/a>.<\/p>\n\n\n\n

Despite this, analysts remain cautiously optimistic, estimating a 60% chance<\/a> of eventual approval. These delays and the ongoing review process indicate that the SEC is maintaining a cautious approach towards the approval of Ether ETFs. It reflects the complexities involved in integrating such products into the financial system.<\/p>\n","post_title":"Hong Kong Set to Approve Bitcoin And Ether ETFs By Monday","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"hong-kong-set-to-approve-bitcoin-and-ether-etfs-by-monday","to_ping":"","pinged":"","post_modified":"2024-04-15 03:53:05","post_modified_gmt":"2024-04-14 17:53:05","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16362","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":16347,"post_author":"15","post_date":"2024-04-14 00:03:48","post_date_gmt":"2024-04-13 14:03:48","post_content":"\n

Bitfinex Securities El Salvador is initiating a tokenized debt offering to fund the development of a Hampton by Hilton hotel complex spanning 4,484 square meters at El Salvador International Airport.<\/p>\n\n\n\n

In January, Bitfinex Securities<\/a> became the inaugural regulated entity to obtain a license to operate in El Salvador under the country\u2019s newly enacted Digital Asset Securities Law. This move anticipated a surge in demand for regulated investment vehicles, following the successful introduction of U.S. spot bitcoin exchange-traded funds.<\/p>\n\n\n\n

At the time, the tokenized securities platform announced its acceptance of customer applications and outlined a pipeline of potential financial asset issuances projected to launch in the year's first half.<\/p>\n\n\n\n

The tokenized debt, issued by El Salvadoran firm Inversiones Laguardia S.A. de C.V., is poised to be the inaugural token to trade on the platform. Utilizing the Liquid Network, a Bitcoin sidechain, the token will be denoted as HILSV and traded against U.S. dollars and Tether\u2019s USDT stablecoin.<\/p>\n\n\n\n

See Related: <\/em><\/strong>El Salvador Businesses Barely Impacted By Bitcoins Legality<\/a><\/p>\n\n\n\n

El Salvador Leads The Way<\/h2>\n\n\n\n


El Salvador stands at the forefront of cryptocurrency adoption wherein Bitcoin is recognized as legal tender. Since June 2021, it has been the first country to embrace Bitcoin alongside the US dollar for everyday transactions, making significant strides in the global crypto landscape. <\/p>\n\n\n\n

Under President Nayib Bukele, the government has initiated a groundbreaking project, where the state purchases one Bitcoin daily to bolster its reserves. <\/p>\n","post_title":"Bitfinex Securities Launches Tokenized Debt Offering For A Hotel In El Salvador","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"bitfinex-securities-launches-tokenized-debt-offering-for-a-hotel-in-el-salvador","to_ping":"","pinged":"","post_modified":"2024-04-14 00:03:52","post_modified_gmt":"2024-04-13 14:03:52","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16347","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

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See Related:<\/em><\/strong> South Korean Government To Invest $187M Into The Metaverse<\/a><\/p>\n\n\n\n

Other Countries' Approaches<\/h2>\n\n\n\n

Some countries, such as China and Kazakhstan, have responded to the high electricity demands of cryptocurrency mining by implementing strict regulations or outright bans on the practice.<\/p>\n\n\n\n

On the other, Oklahoma just recently legalized crypto mining in homes as long as it complies with the noise policy. This includes operating nodes for operations like staking.<\/p>\n","post_title":"Venezuela Cracks Down On Crypto Mining To Save Electricity","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"venezuela-cracks-down-on-crypto-mining-to-save-electricity","to_ping":"","pinged":"","post_modified":"2024-05-20 04:44:44","post_modified_gmt":"2024-05-19 18:44:44","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16985","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":16932,"post_author":"15","post_date":"2024-05-18 23:22:10","post_date_gmt":"2024-05-18 13:22:10","post_content":"\n

The world's second-largest asset manager announced <\/a>on Tuesday the appointment of Salim Ramji as its new CEO. Mr Ramji's new role will be effective on July 8. Unlike his predecessor Tim Buckley and the broader company, Ramji is a known supporter of Bitcoin.<\/p>\n\n\n\n

Bloomberg ETF analyst Eric Balchunas noted that this is the \"first time ever\" that Vanguard has hired externally for its top position. Balchunas, who was \"semi-shocked\" by the move, explained that previous CEOs were \"internal stars\" and former aides to the late founder John Bogle.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/EricBalchunas\/status\/1790498386203869352\n<\/div><\/figure>\n\n\n\n

Mr. Ramji is a seasoned financial services executive with over 25 years of experience in investments, capital markets, and wealth management. He spent a decade in senior leadership roles at BlackRock Inc., departing in January 2024. Most recently, he served as Global Head of iShares & Index Investing, overseeing the management of the majority of the firm's client assets and enhancing the iShares platform to offer a wider array of innovative, low-cost products for investors worldwide.<\/p>\n\n\n\n

See Related:<\/em><\/strong> SandStorm Launches On-Demand Metaverse Builds with 5 Virtual World Partners<\/a><\/p>\n\n\n\n

But Vanguard's Not A Bitcoin Lover<\/h2>\n\n\n\n

Vanguard has taken a different stance. In January, Bitcoin investors were surprised to find that Vanguard did not list Bitcoin spot ETFs from providers like BlackRock and Fidelity, citing inconsistencies with its \"investment philosophy.\"<\/p>\n\n\n\n

Balchunas pointed out that Vanguard inherited John Bogle's philosophy, favoring assets with intrinsic cash flow over commodities like BTC. In 2017, Bogle advised investors to \"avoid Bitcoin like the plague.\"<\/em><\/p>\n\n\n\n

\"Bitcoin is too volatile and not a store of value. It hasn't been, and it's very volatile,\"<\/em> Buckley said in a March interview. \"It's tough to see how it fits into a long-term portfolio.\"<\/em><\/p>\n\n\n\n

After over three decades at Vanguard, Buckley announced in February that he would retire by the end of the year, shortly after the Bitcoin ETFs went live. Many investors believed the timing was significant, suggesting Vanguard regretted missing out on the most successful ETF launch in history.<\/p>\n\n\n\n

\"I still think it's unlikely that this means Vanguard will launch a Bitcoin ETF (at least in the near term),\" <\/em>tweeted Bloomberg Intelligence's James Seyffart on Tuesday. \"But I think Salim could change Vanguard\u2019s stance on allowing their clients to buy spot Bitcoin ETFs on their brokerage platform.\"<\/em><\/p>\n","post_title":"Vanguard Hires Bitcoin Advocate Salim Ramji As New CEO","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"vanguard-hires-bitcoin-advocate-salim-ramji-as-new-ceo","to_ping":"","pinged":"","post_modified":"2024-05-18 23:22:16","post_modified_gmt":"2024-05-18 13:22:16","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16932","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":16843,"post_author":"15","post_date":"2024-05-13 00:31:20","post_date_gmt":"2024-05-12 14:31:20","post_content":"\n

Former U.S. President Donald Trump expressed his intention to enable the use of cryptocurrency for campaign donations. In videos <\/a>shared by NFT creator and influencer Frank Degods, Trump indicated to a group of NFT buyers his willingness to accept crypto donations for his campaign.<\/p>\n\n\n\n

He assured, \"If you can't, I'll make sure you can.\"<\/em> Additionally, he suggested that President Joe Biden lacks an understanding of cryptocurrency and urged crypto supporters to vote for him.<\/p>\n\n\n\n

Trump's remarks were made during a gathering he organized to meet with buyers of his \"Mugshot Edition\" NFTs. Attendees, who individually purchased over 47 NFTs priced at $99 each, were invited to a dinner on their day off from trial. Trump boasted about revitalizing interest in NFTs, stating, \"We made NFTs hot again.\"<\/p>\n\n\n\n

Regarding the crypto industry's presence in the U.S., Trump pledged to work towards retaining it, emphasizing the importance of embracing crypto businesses. His statements led to an 18.5% surge in the \"Jeo Boden\" memecoin, inspired by President Biden, according to CoinMarketCap data<\/a>. Trump expressed skepticism about the token's market capitalization, deeming it excessive.<\/p>\n\n\n\n

See Related: <\/em><\/strong>Trump Drops Series 2 Of Digital Trading Card NFTs On Polygon<\/a><\/p>\n\n\n\n

U.S. Presidency Candidates And Their Stance On Crypto<\/h2>\n\n\n\n

As the 2024 U.S. presidential election nears, candidates face scrutiny over their stance on cryptocurrency regulation. Republican nominee and former President Donald Trump has shown enthusiasm. <\/p>\n\n\n\n

On the other hand, the Democratic nominee emphasizes balanced regulation to safeguard consumers and curb illegal activities, reflecting broader party sentiments. However, within each party, there's a range of views, from advocating for stringent oversight to promoting innovation. With crypto's increasing impact across sectors, including finance and technology, the candidates' positions are poised to shape the industry's future and its interaction with the government.<\/p>\n","post_title":"Trump Pledges To Accept Cryptocurrency For Campaign Donations","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"trump-pledges-to-accept-cryptocurrency-for-campaign-donations","to_ping":"","pinged":"","post_modified":"2024-05-13 00:31:26","post_modified_gmt":"2024-05-12 14:31:26","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16843","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":16856,"post_author":"15","post_date":"2024-05-12 20:19:19","post_date_gmt":"2024-05-12 10:19:19","post_content":"\n

Wells Fargo, a prominent American bank, revealed its investments in several Bitcoin exchange-traded funds (ETFs) in a recent regulatory filing. This move aligns Wells Fargo with other institutions embracing crypto-based investment vehicles. <\/p>\n\n\n\n

According to the filing <\/a>with the U.S. Securities and Exchange Commission (SEC), the bank has purchased shares of Grayscale's GBTC spot Bitcoin ETF and has exposure to Bitcoin Depot Inc., a Bitcoin ATM provider. Additionally, the filing shows that Wells Fargo has invested in the ProShares Bitcoin Strategy ETF (BITO), which offers investors exposure to BTC futures\u2014contracts speculating on the future price of the asset.<\/p>\n\n\n\n

Despite these investments, Wells Fargo's exposure to Bitcoin ETFs remains relatively small. The filing indicates that its investment in GBTC amounts to $141,817, while its investment in ProShares is under $1,200. The exposure to Bitcoin Depot stands at just $99.<\/p>\n\n\n\n

This disclosure comes after a report in February suggested that Wells Fargo, along with Bank of America's Merrill division, was providing its wealth management clients with exposure to Bitcoin ETFs via brokerage accounts. Wells Fargo has shown repeated interest in digital assets and even piloted its digital currency back in 2019.<\/p>\n\n\n\n

See Related:<\/em><\/strong> Bitcoin ETFs Hit Mainstream: BofA\u2019s Merrill, Wells Fargo Now Offer Spot Trading<\/a><\/p>\n\n\n\n

Bitcoin spot ETF era<\/h2>\n\n\n\n

The SEC's approval of 11 spot BTC ETFs in January has led to significant success for these products. This success mirrors the soaring price of Bitcoin, which reached an all-time high of $73,747 in March. The Bitcoin spot ETF issuers now hold 847,427 BTC which is at $50 billion at the time of writing. <\/p>\n\n\n\n

Hong Kong recently approved and started trading Bitcoin and Ethereum spot ETF. <\/p>\n","post_title":"Wells Fargo Dips Toes Into Crypto With Bitcoin ETF Investments","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"wells-fargo-dips-toes-into-crypto-with-bitcoin-etf-investments","to_ping":"","pinged":"","post_modified":"2024-05-12 20:19:23","post_modified_gmt":"2024-05-12 10:19:23","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16856","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":16761,"post_author":"15","post_date":"2024-05-06 23:24:50","post_date_gmt":"2024-05-06 13:24:50","post_content":"\n

The Grayscale Bitcoin Trust ETF ($GBTC) recently experienced a shift in its financial trend. It registers an inflow of $63 million and breaks an 11-week rally of net losses according to the Farside Investors<\/a>.<\/p>\n\n\n\n

\"Bitcoin
Since the inception of Bitcoin spot ETF in the U.S., GBTC has recorded outflows every single trading day.<\/figcaption><\/figure>\n\n\n\n

Bloomberg ETF analyst Eric Balchunas expressed his surprise<\/a> on Twitter, stating, \"Holy crap $GBTC had inflows today,\" and noted that their nearly 80-day streak of outflows had ended. He humorously remarked on the significance of this change, asking his followers to rate how significant this turnaround was for GBTC.<\/p>\n\n\n\n

Despite these challenges, GBTC remains the largest Bitcoin spot ETF, managing over $18.7 billion in assets and holding approximately 297,000 Bitcoin. However, consistent withdrawals have allowed new entrants like the BlackRock iShares Bitcoin Trust (IBIT), which now has $17.2 billion in assets, to narrow the gap.<\/p>\n\n\n\n

This news comes shortly after a downturn for IBIT, which saw a reduction of $37 million just a day earlier, as per Farside Investors. This event was part of a broader trend that saw the ETF market experience its worst day ever, with a total outflow of $563 million amid a decline in Bitcoin prices.<\/p>\n\n\n\n

See Related:<\/em><\/strong> GBTC Price Prediction after Judges Raised Hope for Investors In Favour Of Grayscale<\/a><\/p>\n\n\n\n

Bitcoin ETF in Asia<\/h2>\n\n\n\n

Hong Kong has recently made strides in the cryptocurrency market with the introduction of spot exchange-traded funds (ETFs) for Bitcoin and Ethereum. This development reflects Hong Kong's growing embrace of digital currencies and its ambition to become a major hub for cryptocurrency trading and finance. <\/p>\n\n\n\n

The trading started last April 30 and shows $12 million in trading volume on its first day. Bitcoin spot ETF recorded a $8.5 million and Ethereum spot ETF $2.5 million in trading volume. <\/p>\n","post_title":"Grayscale Bitcoin Trust Rebounds With $63 Million Influx After 80-Day Drought","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"grayscale-bitcoin-trust-rebounds-with-63-million-influx-after-80-day-drought","to_ping":"","pinged":"","post_modified":"2024-05-06 23:24:54","post_modified_gmt":"2024-05-06 13:24:54","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16761","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":16722,"post_author":"15","post_date":"2024-05-04 02:07:14","post_date_gmt":"2024-05-03 16:07:14","post_content":"\n

Elliptic, a blockchain analysis firm, released a study <\/a>conducted with the MIT-IBM Watson AI Lab on Wednesday. This study utilized a deep learning AI model to identify money laundering patterns within Bitcoin transactions and pinpoint wallets involved in criminal activities.<\/p>\n\n\n\n

Bitcoin's use of a decentralized public ledger, a fundamental aspect of the technology, facilitated the research, according to Elliptic. The collaboration between Elliptic and MIT-IBM leveraged AI to distinguish between legal and illegal transactions, tracking connections within the latter to expose potential money laundering activities.<\/p>\n\n\n\n

Elliptic stated, \u201cBlockchains provide fertile ground for machine learning techniques, thanks to the availability of both transaction data and information on the types of entities that are transacting, collected by us and others. This is in contrast to traditional finance where transaction data is typically siloed, making it challenging to apply these techniques.\u201d<\/em><\/p>\n\n\n\n

Elliptic clarified that instead of directly identifying transactions by illicit actors, the machine learning model is trained to recognize 'subgraphs'\u2014sequences of transactions that depict the laundering of Bitcoin. This method focuses more broadly on the multi-step laundering process rather than specific illegal actions on the blockchain.<\/p>\n\n\n\n

See Related:<\/em><\/strong> Binance's $3.9 Billion USDT Transfer Sparks Speculation Amidst CEO's Guilty Plea<\/a><\/p>\n\n\n\n

Money Laundering in 2024 Reports<\/h2>\n\n\n\n

In 2023, the volume of cryptocurrency involved in money laundering activities decreased significantly, with centralized exchanges continuing as the primary channels for such transactions. DeFi protocols and gambling services saw an uptick in use for laundering, yet they generally lack the anonymity preferred by launderers.<\/p>\n\n\n\n

Sophisticated criminals, particularly North Korea's Lazarus Group, adapted to law enforcement tactics by employing new mixers and utilizing cross-chain bridges to launder funds. These methods allow them to obfuscate the origins of illicit funds more effectively across multiple blockchain platforms, demonstrating a dynamic shift in the techniques used by high-level criminal enterprises to evade detection.<\/p>\n","post_title":"AI Powers New Tool To Detect Illegal Bitcoin Transactions, Study Shows","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"ai-powers-new-tool-to-detect-illegal-bitcoin-transactions-study-shows","to_ping":"","pinged":"","post_modified":"2024-05-04 02:07:20","post_modified_gmt":"2024-05-03 16:07:20","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16722","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":16491,"post_author":"15","post_date":"2024-04-21 10:09:53","post_date_gmt":"2024-04-21 00:09:53","post_content":"\n

Entrepreneur and Dallas Mavericks owner Mark Cuban recently discussed the implications of the upcoming Bitcoin halving. He emphasized its significant impact on miner revenues.<\/p>\n\n\n\n

During an interview <\/a>with The Block, Cuban pointed out that the halving will reduce mining rewards from 6.25 BTC to 3.125 BTC, effectively slashing the income for bitcoin miners by nearly half. However, Cuban expressed greater curiosity about the role artificial intelligence (AI) might play in the mining sector, especially concerning the demand for GPUs.<\/p>\n\n\n\n

Cuban highlighted the intense competition between AI's needs for GPUs and cryptocurrency mining's demands. He questioned whether the economic landscape of mining could be altered by the booming AI industry, asking if it might be more profitable to utilize GPUs for AI model training rather than mining. This issue primarily affects miners using GPUs for cryptocurrencies other than Bitcoin, which typically relies on ASIC machines.<\/p>\n\n\n\n

The intersection of AI and cryptocurrency mining is already seeing practical applications, with companies like Xive and Hive Digital Technologies expanding into AI to bolster their primary mining operations. <\/p>\n\n\n\n

See Related:<\/em><\/strong> Cryptocurrency Statistics And Insights (2022)<\/a><\/p>\n\n\n\n

Bitcoin Halving is Coming<\/h2>\n\n\n\n

Bitcoin halving is a significant event in the cryptocurrency world that occurs approximately every four years, or after 210,000 blocks are mined. During a halving, bitcoin miners' reward for verifying transactions and adding them to the blockchain is reduced by half. This mechanism was designed by Satoshi Nakamoto, the anonymous creator of Bitcoin, to control inflation by limiting the total number of bitcoins that can ever be in circulation to 21 million.<\/p>\n\n\n\n

As of writing, the price of Bitcoin is at $63,760, and 2 blocks remaining until the next Bitcoin halving.<\/p>\n","post_title":"Bitcoin Halving To Slash Miner Earnings, Cuban Eyes AI Shift","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"bitcoin-halving-to-slash-miner-earnings-cuban-eyes-ai-shift","to_ping":"","pinged":"","post_modified":"2024-04-21 10:10:00","post_modified_gmt":"2024-04-21 00:10:00","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16491","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":16460,"post_author":"15","post_date":"2024-04-19 23:38:06","post_date_gmt":"2024-04-19 13:38:06","post_content":"\n

Binance, the leading global cryptocurrency exchange, is set to make a comeback in India after agreeing to pay a $2 million penalty. This development follows a period of stringent regulatory scrutiny where the Indian government blocked nine cryptocurrency websites. They also prompted the removal of related apps from Apple and Google stores due to non-compliance with local laws. <\/p>\n\n\n\n

According to the Economic Times<\/a>, sources close to the matter indicate that Binance is restructuring its operations in South Asia. The cryptocurrency exchange is planning to fully comply with the Financial Intelligence Unit of India, which regulates the local trading of digital assets.<\/p>\n\n\n\n

The move comes as part of Binance's efforts to align with India's financial regulations, including adherence to anti-money laundering and taxation statutes. Before the crackdown, Binance held a commanding presence in the Indian market, with an estimated 90% of crypto holdings among Indian investors, totaling about $4 billion.<\/p>\n\n\n\n

See Related:<\/em><\/strong> Indian Parliament Passes A 30% Crypto Tax Law<\/a><\/p>\n\n\n\n

Nigeria Detains Binance Executives<\/h2>\n\n\n\n

Two months ago, Nigeria detained two executives of the Binance after they flew into the country. The country's Office of the National Security Adviser detained the two, and their passports were seized. <\/p>\n\n\n\n

Nigerian officials have leveled several charges against the cryptocurrency exchange Binance. The allegation includes exploiting the local economy, contributing to the devaluation of the Nigerian naira, and engaging in money laundering activities. They allege that Binance has been involved in manipulating the exchange rates by engaging in speculative actions and fixing rates. Furthermore, the Nigerian government has expressed concerns over $26 billion in transactions carried out on Binance's platform, which they report as being untraceable.<\/p>\n\n\n\n

Binance has denied any wrongdoing, but this is not the first time it has bumped heads with regulators.<\/p>\n","post_title":"Binance Set To Re-enter Indian Market with $2 Million Fine Settlement","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"binance-set-to-re-enter-indian-market-with-2-million-fine-settlement","to_ping":"","pinged":"","post_modified":"2024-04-20 04:11:08","post_modified_gmt":"2024-04-19 18:11:08","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16460","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":16362,"post_author":"15","post_date":"2024-04-15 03:52:59","post_date_gmt":"2024-04-14 17:52:59","post_content":"\n

Hong Kong is on the brink of approving spot exchange-traded funds (ETFs) for bitcoin and ether, potentially by Monday, Bloomberg reports<\/a>. This anticipated approval is poised to influence the cryptocurrency markets in the near term. The ETFs, if launched, will enable investors to trade bitcoin and ether on regulated platforms, enhancing the legitimacy and stability of investing in cryptocurrencies.<\/p>\n\n\n\n

Bloomberg\u2019s sources suggest that if the Hong Kong Exchanges & Clearing can finalize the listing details promptly, trading could commence by the end of April. Harvest Global Investments and Bosera Asset Management, in collaboration with HashKey Capital, are frontrunners in receiving the first approvals for these spot cryptocurrency ETFs. This move could cement Hong Kong's position as a major hub for digital assets in Asia, particularly if it leads to a successful market response similar to the U.S., where the approval of bitcoin ETFs in January triggered a price rally, pushing bitcoin\u2019s value to $73,000.<\/p>\n\n\n\n

However, unlike in the U.S., where ether ETFs have not yet been approved, Hong Kong might take the lead in this area as well. The city's market regulator, the Securities and Futures Commission (SFC), has not commented on the developments. Similarly, inquiries to Harvest Global Investments, Bosera Asset Management, HashKey Capital, and HKEX received no immediate response.<\/p>\n\n\n\n

See Related: <\/em><\/strong>Hong Kong Invests Over $6.4M Into Web 3 Development<\/a><\/p>\n\n\n\n

Ether ETF Update<\/h2>\n\n\n\n

The U.S. Securities and Exchange Commission (SEC) has once again delayed its decision on the application for an Ether ETF. A new deadline is set for May 23<\/a>.<\/p>\n\n\n\n

Despite this, analysts remain cautiously optimistic, estimating a 60% chance<\/a> of eventual approval. These delays and the ongoing review process indicate that the SEC is maintaining a cautious approach towards the approval of Ether ETFs. It reflects the complexities involved in integrating such products into the financial system.<\/p>\n","post_title":"Hong Kong Set to Approve Bitcoin And Ether ETFs By Monday","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"hong-kong-set-to-approve-bitcoin-and-ether-etfs-by-monday","to_ping":"","pinged":"","post_modified":"2024-04-15 03:53:05","post_modified_gmt":"2024-04-14 17:53:05","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16362","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":16347,"post_author":"15","post_date":"2024-04-14 00:03:48","post_date_gmt":"2024-04-13 14:03:48","post_content":"\n

Bitfinex Securities El Salvador is initiating a tokenized debt offering to fund the development of a Hampton by Hilton hotel complex spanning 4,484 square meters at El Salvador International Airport.<\/p>\n\n\n\n

In January, Bitfinex Securities<\/a> became the inaugural regulated entity to obtain a license to operate in El Salvador under the country\u2019s newly enacted Digital Asset Securities Law. This move anticipated a surge in demand for regulated investment vehicles, following the successful introduction of U.S. spot bitcoin exchange-traded funds.<\/p>\n\n\n\n

At the time, the tokenized securities platform announced its acceptance of customer applications and outlined a pipeline of potential financial asset issuances projected to launch in the year's first half.<\/p>\n\n\n\n

The tokenized debt, issued by El Salvadoran firm Inversiones Laguardia S.A. de C.V., is poised to be the inaugural token to trade on the platform. Utilizing the Liquid Network, a Bitcoin sidechain, the token will be denoted as HILSV and traded against U.S. dollars and Tether\u2019s USDT stablecoin.<\/p>\n\n\n\n

See Related: <\/em><\/strong>El Salvador Businesses Barely Impacted By Bitcoins Legality<\/a><\/p>\n\n\n\n

El Salvador Leads The Way<\/h2>\n\n\n\n


El Salvador stands at the forefront of cryptocurrency adoption wherein Bitcoin is recognized as legal tender. Since June 2021, it has been the first country to embrace Bitcoin alongside the US dollar for everyday transactions, making significant strides in the global crypto landscape. <\/p>\n\n\n\n

Under President Nayib Bukele, the government has initiated a groundbreaking project, where the state purchases one Bitcoin daily to bolster its reserves. <\/p>\n","post_title":"Bitfinex Securities Launches Tokenized Debt Offering For A Hotel In El Salvador","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"bitfinex-securities-launches-tokenized-debt-offering-for-a-hotel-in-el-salvador","to_ping":"","pinged":"","post_modified":"2024-04-14 00:03:52","post_modified_gmt":"2024-04-13 14:03:52","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16347","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

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\n

The country has been experiencing frequent blackouts, particularly since 2019, severely affecting residents' daily lives and overall economic activities.<\/p>\n\n\n\n

See Related:<\/em><\/strong> South Korean Government To Invest $187M Into The Metaverse<\/a><\/p>\n\n\n\n

Other Countries' Approaches<\/h2>\n\n\n\n

Some countries, such as China and Kazakhstan, have responded to the high electricity demands of cryptocurrency mining by implementing strict regulations or outright bans on the practice.<\/p>\n\n\n\n

On the other, Oklahoma just recently legalized crypto mining in homes as long as it complies with the noise policy. This includes operating nodes for operations like staking.<\/p>\n","post_title":"Venezuela Cracks Down On Crypto Mining To Save Electricity","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"venezuela-cracks-down-on-crypto-mining-to-save-electricity","to_ping":"","pinged":"","post_modified":"2024-05-20 04:44:44","post_modified_gmt":"2024-05-19 18:44:44","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16985","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":16932,"post_author":"15","post_date":"2024-05-18 23:22:10","post_date_gmt":"2024-05-18 13:22:10","post_content":"\n

The world's second-largest asset manager announced <\/a>on Tuesday the appointment of Salim Ramji as its new CEO. Mr Ramji's new role will be effective on July 8. Unlike his predecessor Tim Buckley and the broader company, Ramji is a known supporter of Bitcoin.<\/p>\n\n\n\n

Bloomberg ETF analyst Eric Balchunas noted that this is the \"first time ever\" that Vanguard has hired externally for its top position. Balchunas, who was \"semi-shocked\" by the move, explained that previous CEOs were \"internal stars\" and former aides to the late founder John Bogle.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/EricBalchunas\/status\/1790498386203869352\n<\/div><\/figure>\n\n\n\n

Mr. Ramji is a seasoned financial services executive with over 25 years of experience in investments, capital markets, and wealth management. He spent a decade in senior leadership roles at BlackRock Inc., departing in January 2024. Most recently, he served as Global Head of iShares & Index Investing, overseeing the management of the majority of the firm's client assets and enhancing the iShares platform to offer a wider array of innovative, low-cost products for investors worldwide.<\/p>\n\n\n\n

See Related:<\/em><\/strong> SandStorm Launches On-Demand Metaverse Builds with 5 Virtual World Partners<\/a><\/p>\n\n\n\n

But Vanguard's Not A Bitcoin Lover<\/h2>\n\n\n\n

Vanguard has taken a different stance. In January, Bitcoin investors were surprised to find that Vanguard did not list Bitcoin spot ETFs from providers like BlackRock and Fidelity, citing inconsistencies with its \"investment philosophy.\"<\/p>\n\n\n\n

Balchunas pointed out that Vanguard inherited John Bogle's philosophy, favoring assets with intrinsic cash flow over commodities like BTC. In 2017, Bogle advised investors to \"avoid Bitcoin like the plague.\"<\/em><\/p>\n\n\n\n

\"Bitcoin is too volatile and not a store of value. It hasn't been, and it's very volatile,\"<\/em> Buckley said in a March interview. \"It's tough to see how it fits into a long-term portfolio.\"<\/em><\/p>\n\n\n\n

After over three decades at Vanguard, Buckley announced in February that he would retire by the end of the year, shortly after the Bitcoin ETFs went live. Many investors believed the timing was significant, suggesting Vanguard regretted missing out on the most successful ETF launch in history.<\/p>\n\n\n\n

\"I still think it's unlikely that this means Vanguard will launch a Bitcoin ETF (at least in the near term),\" <\/em>tweeted Bloomberg Intelligence's James Seyffart on Tuesday. \"But I think Salim could change Vanguard\u2019s stance on allowing their clients to buy spot Bitcoin ETFs on their brokerage platform.\"<\/em><\/p>\n","post_title":"Vanguard Hires Bitcoin Advocate Salim Ramji As New CEO","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"vanguard-hires-bitcoin-advocate-salim-ramji-as-new-ceo","to_ping":"","pinged":"","post_modified":"2024-05-18 23:22:16","post_modified_gmt":"2024-05-18 13:22:16","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16932","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":16843,"post_author":"15","post_date":"2024-05-13 00:31:20","post_date_gmt":"2024-05-12 14:31:20","post_content":"\n

Former U.S. President Donald Trump expressed his intention to enable the use of cryptocurrency for campaign donations. In videos <\/a>shared by NFT creator and influencer Frank Degods, Trump indicated to a group of NFT buyers his willingness to accept crypto donations for his campaign.<\/p>\n\n\n\n

He assured, \"If you can't, I'll make sure you can.\"<\/em> Additionally, he suggested that President Joe Biden lacks an understanding of cryptocurrency and urged crypto supporters to vote for him.<\/p>\n\n\n\n

Trump's remarks were made during a gathering he organized to meet with buyers of his \"Mugshot Edition\" NFTs. Attendees, who individually purchased over 47 NFTs priced at $99 each, were invited to a dinner on their day off from trial. Trump boasted about revitalizing interest in NFTs, stating, \"We made NFTs hot again.\"<\/p>\n\n\n\n

Regarding the crypto industry's presence in the U.S., Trump pledged to work towards retaining it, emphasizing the importance of embracing crypto businesses. His statements led to an 18.5% surge in the \"Jeo Boden\" memecoin, inspired by President Biden, according to CoinMarketCap data<\/a>. Trump expressed skepticism about the token's market capitalization, deeming it excessive.<\/p>\n\n\n\n

See Related: <\/em><\/strong>Trump Drops Series 2 Of Digital Trading Card NFTs On Polygon<\/a><\/p>\n\n\n\n

U.S. Presidency Candidates And Their Stance On Crypto<\/h2>\n\n\n\n

As the 2024 U.S. presidential election nears, candidates face scrutiny over their stance on cryptocurrency regulation. Republican nominee and former President Donald Trump has shown enthusiasm. <\/p>\n\n\n\n

On the other hand, the Democratic nominee emphasizes balanced regulation to safeguard consumers and curb illegal activities, reflecting broader party sentiments. However, within each party, there's a range of views, from advocating for stringent oversight to promoting innovation. With crypto's increasing impact across sectors, including finance and technology, the candidates' positions are poised to shape the industry's future and its interaction with the government.<\/p>\n","post_title":"Trump Pledges To Accept Cryptocurrency For Campaign Donations","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"trump-pledges-to-accept-cryptocurrency-for-campaign-donations","to_ping":"","pinged":"","post_modified":"2024-05-13 00:31:26","post_modified_gmt":"2024-05-12 14:31:26","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16843","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":16856,"post_author":"15","post_date":"2024-05-12 20:19:19","post_date_gmt":"2024-05-12 10:19:19","post_content":"\n

Wells Fargo, a prominent American bank, revealed its investments in several Bitcoin exchange-traded funds (ETFs) in a recent regulatory filing. This move aligns Wells Fargo with other institutions embracing crypto-based investment vehicles. <\/p>\n\n\n\n

According to the filing <\/a>with the U.S. Securities and Exchange Commission (SEC), the bank has purchased shares of Grayscale's GBTC spot Bitcoin ETF and has exposure to Bitcoin Depot Inc., a Bitcoin ATM provider. Additionally, the filing shows that Wells Fargo has invested in the ProShares Bitcoin Strategy ETF (BITO), which offers investors exposure to BTC futures\u2014contracts speculating on the future price of the asset.<\/p>\n\n\n\n

Despite these investments, Wells Fargo's exposure to Bitcoin ETFs remains relatively small. The filing indicates that its investment in GBTC amounts to $141,817, while its investment in ProShares is under $1,200. The exposure to Bitcoin Depot stands at just $99.<\/p>\n\n\n\n

This disclosure comes after a report in February suggested that Wells Fargo, along with Bank of America's Merrill division, was providing its wealth management clients with exposure to Bitcoin ETFs via brokerage accounts. Wells Fargo has shown repeated interest in digital assets and even piloted its digital currency back in 2019.<\/p>\n\n\n\n

See Related:<\/em><\/strong> Bitcoin ETFs Hit Mainstream: BofA\u2019s Merrill, Wells Fargo Now Offer Spot Trading<\/a><\/p>\n\n\n\n

Bitcoin spot ETF era<\/h2>\n\n\n\n

The SEC's approval of 11 spot BTC ETFs in January has led to significant success for these products. This success mirrors the soaring price of Bitcoin, which reached an all-time high of $73,747 in March. The Bitcoin spot ETF issuers now hold 847,427 BTC which is at $50 billion at the time of writing. <\/p>\n\n\n\n

Hong Kong recently approved and started trading Bitcoin and Ethereum spot ETF. <\/p>\n","post_title":"Wells Fargo Dips Toes Into Crypto With Bitcoin ETF Investments","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"wells-fargo-dips-toes-into-crypto-with-bitcoin-etf-investments","to_ping":"","pinged":"","post_modified":"2024-05-12 20:19:23","post_modified_gmt":"2024-05-12 10:19:23","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16856","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":16761,"post_author":"15","post_date":"2024-05-06 23:24:50","post_date_gmt":"2024-05-06 13:24:50","post_content":"\n

The Grayscale Bitcoin Trust ETF ($GBTC) recently experienced a shift in its financial trend. It registers an inflow of $63 million and breaks an 11-week rally of net losses according to the Farside Investors<\/a>.<\/p>\n\n\n\n

\"Bitcoin
Since the inception of Bitcoin spot ETF in the U.S., GBTC has recorded outflows every single trading day.<\/figcaption><\/figure>\n\n\n\n

Bloomberg ETF analyst Eric Balchunas expressed his surprise<\/a> on Twitter, stating, \"Holy crap $GBTC had inflows today,\" and noted that their nearly 80-day streak of outflows had ended. He humorously remarked on the significance of this change, asking his followers to rate how significant this turnaround was for GBTC.<\/p>\n\n\n\n

Despite these challenges, GBTC remains the largest Bitcoin spot ETF, managing over $18.7 billion in assets and holding approximately 297,000 Bitcoin. However, consistent withdrawals have allowed new entrants like the BlackRock iShares Bitcoin Trust (IBIT), which now has $17.2 billion in assets, to narrow the gap.<\/p>\n\n\n\n

This news comes shortly after a downturn for IBIT, which saw a reduction of $37 million just a day earlier, as per Farside Investors. This event was part of a broader trend that saw the ETF market experience its worst day ever, with a total outflow of $563 million amid a decline in Bitcoin prices.<\/p>\n\n\n\n

See Related:<\/em><\/strong> GBTC Price Prediction after Judges Raised Hope for Investors In Favour Of Grayscale<\/a><\/p>\n\n\n\n

Bitcoin ETF in Asia<\/h2>\n\n\n\n

Hong Kong has recently made strides in the cryptocurrency market with the introduction of spot exchange-traded funds (ETFs) for Bitcoin and Ethereum. This development reflects Hong Kong's growing embrace of digital currencies and its ambition to become a major hub for cryptocurrency trading and finance. <\/p>\n\n\n\n

The trading started last April 30 and shows $12 million in trading volume on its first day. Bitcoin spot ETF recorded a $8.5 million and Ethereum spot ETF $2.5 million in trading volume. <\/p>\n","post_title":"Grayscale Bitcoin Trust Rebounds With $63 Million Influx After 80-Day Drought","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"grayscale-bitcoin-trust-rebounds-with-63-million-influx-after-80-day-drought","to_ping":"","pinged":"","post_modified":"2024-05-06 23:24:54","post_modified_gmt":"2024-05-06 13:24:54","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16761","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":16722,"post_author":"15","post_date":"2024-05-04 02:07:14","post_date_gmt":"2024-05-03 16:07:14","post_content":"\n

Elliptic, a blockchain analysis firm, released a study <\/a>conducted with the MIT-IBM Watson AI Lab on Wednesday. This study utilized a deep learning AI model to identify money laundering patterns within Bitcoin transactions and pinpoint wallets involved in criminal activities.<\/p>\n\n\n\n

Bitcoin's use of a decentralized public ledger, a fundamental aspect of the technology, facilitated the research, according to Elliptic. The collaboration between Elliptic and MIT-IBM leveraged AI to distinguish between legal and illegal transactions, tracking connections within the latter to expose potential money laundering activities.<\/p>\n\n\n\n

Elliptic stated, \u201cBlockchains provide fertile ground for machine learning techniques, thanks to the availability of both transaction data and information on the types of entities that are transacting, collected by us and others. This is in contrast to traditional finance where transaction data is typically siloed, making it challenging to apply these techniques.\u201d<\/em><\/p>\n\n\n\n

Elliptic clarified that instead of directly identifying transactions by illicit actors, the machine learning model is trained to recognize 'subgraphs'\u2014sequences of transactions that depict the laundering of Bitcoin. This method focuses more broadly on the multi-step laundering process rather than specific illegal actions on the blockchain.<\/p>\n\n\n\n

See Related:<\/em><\/strong> Binance's $3.9 Billion USDT Transfer Sparks Speculation Amidst CEO's Guilty Plea<\/a><\/p>\n\n\n\n

Money Laundering in 2024 Reports<\/h2>\n\n\n\n

In 2023, the volume of cryptocurrency involved in money laundering activities decreased significantly, with centralized exchanges continuing as the primary channels for such transactions. DeFi protocols and gambling services saw an uptick in use for laundering, yet they generally lack the anonymity preferred by launderers.<\/p>\n\n\n\n

Sophisticated criminals, particularly North Korea's Lazarus Group, adapted to law enforcement tactics by employing new mixers and utilizing cross-chain bridges to launder funds. These methods allow them to obfuscate the origins of illicit funds more effectively across multiple blockchain platforms, demonstrating a dynamic shift in the techniques used by high-level criminal enterprises to evade detection.<\/p>\n","post_title":"AI Powers New Tool To Detect Illegal Bitcoin Transactions, Study Shows","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"ai-powers-new-tool-to-detect-illegal-bitcoin-transactions-study-shows","to_ping":"","pinged":"","post_modified":"2024-05-04 02:07:20","post_modified_gmt":"2024-05-03 16:07:20","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16722","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":16491,"post_author":"15","post_date":"2024-04-21 10:09:53","post_date_gmt":"2024-04-21 00:09:53","post_content":"\n

Entrepreneur and Dallas Mavericks owner Mark Cuban recently discussed the implications of the upcoming Bitcoin halving. He emphasized its significant impact on miner revenues.<\/p>\n\n\n\n

During an interview <\/a>with The Block, Cuban pointed out that the halving will reduce mining rewards from 6.25 BTC to 3.125 BTC, effectively slashing the income for bitcoin miners by nearly half. However, Cuban expressed greater curiosity about the role artificial intelligence (AI) might play in the mining sector, especially concerning the demand for GPUs.<\/p>\n\n\n\n

Cuban highlighted the intense competition between AI's needs for GPUs and cryptocurrency mining's demands. He questioned whether the economic landscape of mining could be altered by the booming AI industry, asking if it might be more profitable to utilize GPUs for AI model training rather than mining. This issue primarily affects miners using GPUs for cryptocurrencies other than Bitcoin, which typically relies on ASIC machines.<\/p>\n\n\n\n

The intersection of AI and cryptocurrency mining is already seeing practical applications, with companies like Xive and Hive Digital Technologies expanding into AI to bolster their primary mining operations. <\/p>\n\n\n\n

See Related:<\/em><\/strong> Cryptocurrency Statistics And Insights (2022)<\/a><\/p>\n\n\n\n

Bitcoin Halving is Coming<\/h2>\n\n\n\n

Bitcoin halving is a significant event in the cryptocurrency world that occurs approximately every four years, or after 210,000 blocks are mined. During a halving, bitcoin miners' reward for verifying transactions and adding them to the blockchain is reduced by half. This mechanism was designed by Satoshi Nakamoto, the anonymous creator of Bitcoin, to control inflation by limiting the total number of bitcoins that can ever be in circulation to 21 million.<\/p>\n\n\n\n

As of writing, the price of Bitcoin is at $63,760, and 2 blocks remaining until the next Bitcoin halving.<\/p>\n","post_title":"Bitcoin Halving To Slash Miner Earnings, Cuban Eyes AI Shift","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"bitcoin-halving-to-slash-miner-earnings-cuban-eyes-ai-shift","to_ping":"","pinged":"","post_modified":"2024-04-21 10:10:00","post_modified_gmt":"2024-04-21 00:10:00","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16491","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":16460,"post_author":"15","post_date":"2024-04-19 23:38:06","post_date_gmt":"2024-04-19 13:38:06","post_content":"\n

Binance, the leading global cryptocurrency exchange, is set to make a comeback in India after agreeing to pay a $2 million penalty. This development follows a period of stringent regulatory scrutiny where the Indian government blocked nine cryptocurrency websites. They also prompted the removal of related apps from Apple and Google stores due to non-compliance with local laws. <\/p>\n\n\n\n

According to the Economic Times<\/a>, sources close to the matter indicate that Binance is restructuring its operations in South Asia. The cryptocurrency exchange is planning to fully comply with the Financial Intelligence Unit of India, which regulates the local trading of digital assets.<\/p>\n\n\n\n

The move comes as part of Binance's efforts to align with India's financial regulations, including adherence to anti-money laundering and taxation statutes. Before the crackdown, Binance held a commanding presence in the Indian market, with an estimated 90% of crypto holdings among Indian investors, totaling about $4 billion.<\/p>\n\n\n\n

See Related:<\/em><\/strong> Indian Parliament Passes A 30% Crypto Tax Law<\/a><\/p>\n\n\n\n

Nigeria Detains Binance Executives<\/h2>\n\n\n\n

Two months ago, Nigeria detained two executives of the Binance after they flew into the country. The country's Office of the National Security Adviser detained the two, and their passports were seized. <\/p>\n\n\n\n

Nigerian officials have leveled several charges against the cryptocurrency exchange Binance. The allegation includes exploiting the local economy, contributing to the devaluation of the Nigerian naira, and engaging in money laundering activities. They allege that Binance has been involved in manipulating the exchange rates by engaging in speculative actions and fixing rates. Furthermore, the Nigerian government has expressed concerns over $26 billion in transactions carried out on Binance's platform, which they report as being untraceable.<\/p>\n\n\n\n

Binance has denied any wrongdoing, but this is not the first time it has bumped heads with regulators.<\/p>\n","post_title":"Binance Set To Re-enter Indian Market with $2 Million Fine Settlement","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"binance-set-to-re-enter-indian-market-with-2-million-fine-settlement","to_ping":"","pinged":"","post_modified":"2024-04-20 04:11:08","post_modified_gmt":"2024-04-19 18:11:08","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16460","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":16362,"post_author":"15","post_date":"2024-04-15 03:52:59","post_date_gmt":"2024-04-14 17:52:59","post_content":"\n

Hong Kong is on the brink of approving spot exchange-traded funds (ETFs) for bitcoin and ether, potentially by Monday, Bloomberg reports<\/a>. This anticipated approval is poised to influence the cryptocurrency markets in the near term. The ETFs, if launched, will enable investors to trade bitcoin and ether on regulated platforms, enhancing the legitimacy and stability of investing in cryptocurrencies.<\/p>\n\n\n\n

Bloomberg\u2019s sources suggest that if the Hong Kong Exchanges & Clearing can finalize the listing details promptly, trading could commence by the end of April. Harvest Global Investments and Bosera Asset Management, in collaboration with HashKey Capital, are frontrunners in receiving the first approvals for these spot cryptocurrency ETFs. This move could cement Hong Kong's position as a major hub for digital assets in Asia, particularly if it leads to a successful market response similar to the U.S., where the approval of bitcoin ETFs in January triggered a price rally, pushing bitcoin\u2019s value to $73,000.<\/p>\n\n\n\n

However, unlike in the U.S., where ether ETFs have not yet been approved, Hong Kong might take the lead in this area as well. The city's market regulator, the Securities and Futures Commission (SFC), has not commented on the developments. Similarly, inquiries to Harvest Global Investments, Bosera Asset Management, HashKey Capital, and HKEX received no immediate response.<\/p>\n\n\n\n

See Related: <\/em><\/strong>Hong Kong Invests Over $6.4M Into Web 3 Development<\/a><\/p>\n\n\n\n

Ether ETF Update<\/h2>\n\n\n\n

The U.S. Securities and Exchange Commission (SEC) has once again delayed its decision on the application for an Ether ETF. A new deadline is set for May 23<\/a>.<\/p>\n\n\n\n

Despite this, analysts remain cautiously optimistic, estimating a 60% chance<\/a> of eventual approval. These delays and the ongoing review process indicate that the SEC is maintaining a cautious approach towards the approval of Ether ETFs. It reflects the complexities involved in integrating such products into the financial system.<\/p>\n","post_title":"Hong Kong Set to Approve Bitcoin And Ether ETFs By Monday","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"hong-kong-set-to-approve-bitcoin-and-ether-etfs-by-monday","to_ping":"","pinged":"","post_modified":"2024-04-15 03:53:05","post_modified_gmt":"2024-04-14 17:53:05","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16362","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":16347,"post_author":"15","post_date":"2024-04-14 00:03:48","post_date_gmt":"2024-04-13 14:03:48","post_content":"\n

Bitfinex Securities El Salvador is initiating a tokenized debt offering to fund the development of a Hampton by Hilton hotel complex spanning 4,484 square meters at El Salvador International Airport.<\/p>\n\n\n\n

In January, Bitfinex Securities<\/a> became the inaugural regulated entity to obtain a license to operate in El Salvador under the country\u2019s newly enacted Digital Asset Securities Law. This move anticipated a surge in demand for regulated investment vehicles, following the successful introduction of U.S. spot bitcoin exchange-traded funds.<\/p>\n\n\n\n

At the time, the tokenized securities platform announced its acceptance of customer applications and outlined a pipeline of potential financial asset issuances projected to launch in the year's first half.<\/p>\n\n\n\n

The tokenized debt, issued by El Salvadoran firm Inversiones Laguardia S.A. de C.V., is poised to be the inaugural token to trade on the platform. Utilizing the Liquid Network, a Bitcoin sidechain, the token will be denoted as HILSV and traded against U.S. dollars and Tether\u2019s USDT stablecoin.<\/p>\n\n\n\n

See Related: <\/em><\/strong>El Salvador Businesses Barely Impacted By Bitcoins Legality<\/a><\/p>\n\n\n\n

El Salvador Leads The Way<\/h2>\n\n\n\n


El Salvador stands at the forefront of cryptocurrency adoption wherein Bitcoin is recognized as legal tender. Since June 2021, it has been the first country to embrace Bitcoin alongside the US dollar for everyday transactions, making significant strides in the global crypto landscape. <\/p>\n\n\n\n

Under President Nayib Bukele, the government has initiated a groundbreaking project, where the state purchases one Bitcoin daily to bolster its reserves. <\/p>\n","post_title":"Bitfinex Securities Launches Tokenized Debt Offering For A Hotel In El Salvador","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"bitfinex-securities-launches-tokenized-debt-offering-for-a-hotel-in-el-salvador","to_ping":"","pinged":"","post_modified":"2024-04-14 00:03:52","post_modified_gmt":"2024-04-13 14:03:52","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16347","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

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\n

The ministry stressed the importance of providing efficient and reliable electrical service throughout Venezuela by eliminating the burden caused by these high-energy-consuming farms. Officials stated that these measures are crucial to stabilizing the national power supply, which has been unstable for the past decade.<\/p>\n\n\n\n

The country has been experiencing frequent blackouts, particularly since 2019, severely affecting residents' daily lives and overall economic activities.<\/p>\n\n\n\n

See Related:<\/em><\/strong> South Korean Government To Invest $187M Into The Metaverse<\/a><\/p>\n\n\n\n

Other Countries' Approaches<\/h2>\n\n\n\n

Some countries, such as China and Kazakhstan, have responded to the high electricity demands of cryptocurrency mining by implementing strict regulations or outright bans on the practice.<\/p>\n\n\n\n

On the other, Oklahoma just recently legalized crypto mining in homes as long as it complies with the noise policy. This includes operating nodes for operations like staking.<\/p>\n","post_title":"Venezuela Cracks Down On Crypto Mining To Save Electricity","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"venezuela-cracks-down-on-crypto-mining-to-save-electricity","to_ping":"","pinged":"","post_modified":"2024-05-20 04:44:44","post_modified_gmt":"2024-05-19 18:44:44","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16985","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":16932,"post_author":"15","post_date":"2024-05-18 23:22:10","post_date_gmt":"2024-05-18 13:22:10","post_content":"\n

The world's second-largest asset manager announced <\/a>on Tuesday the appointment of Salim Ramji as its new CEO. Mr Ramji's new role will be effective on July 8. Unlike his predecessor Tim Buckley and the broader company, Ramji is a known supporter of Bitcoin.<\/p>\n\n\n\n

Bloomberg ETF analyst Eric Balchunas noted that this is the \"first time ever\" that Vanguard has hired externally for its top position. Balchunas, who was \"semi-shocked\" by the move, explained that previous CEOs were \"internal stars\" and former aides to the late founder John Bogle.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/EricBalchunas\/status\/1790498386203869352\n<\/div><\/figure>\n\n\n\n

Mr. Ramji is a seasoned financial services executive with over 25 years of experience in investments, capital markets, and wealth management. He spent a decade in senior leadership roles at BlackRock Inc., departing in January 2024. Most recently, he served as Global Head of iShares & Index Investing, overseeing the management of the majority of the firm's client assets and enhancing the iShares platform to offer a wider array of innovative, low-cost products for investors worldwide.<\/p>\n\n\n\n

See Related:<\/em><\/strong> SandStorm Launches On-Demand Metaverse Builds with 5 Virtual World Partners<\/a><\/p>\n\n\n\n

But Vanguard's Not A Bitcoin Lover<\/h2>\n\n\n\n

Vanguard has taken a different stance. In January, Bitcoin investors were surprised to find that Vanguard did not list Bitcoin spot ETFs from providers like BlackRock and Fidelity, citing inconsistencies with its \"investment philosophy.\"<\/p>\n\n\n\n

Balchunas pointed out that Vanguard inherited John Bogle's philosophy, favoring assets with intrinsic cash flow over commodities like BTC. In 2017, Bogle advised investors to \"avoid Bitcoin like the plague.\"<\/em><\/p>\n\n\n\n

\"Bitcoin is too volatile and not a store of value. It hasn't been, and it's very volatile,\"<\/em> Buckley said in a March interview. \"It's tough to see how it fits into a long-term portfolio.\"<\/em><\/p>\n\n\n\n

After over three decades at Vanguard, Buckley announced in February that he would retire by the end of the year, shortly after the Bitcoin ETFs went live. Many investors believed the timing was significant, suggesting Vanguard regretted missing out on the most successful ETF launch in history.<\/p>\n\n\n\n

\"I still think it's unlikely that this means Vanguard will launch a Bitcoin ETF (at least in the near term),\" <\/em>tweeted Bloomberg Intelligence's James Seyffart on Tuesday. \"But I think Salim could change Vanguard\u2019s stance on allowing their clients to buy spot Bitcoin ETFs on their brokerage platform.\"<\/em><\/p>\n","post_title":"Vanguard Hires Bitcoin Advocate Salim Ramji As New CEO","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"vanguard-hires-bitcoin-advocate-salim-ramji-as-new-ceo","to_ping":"","pinged":"","post_modified":"2024-05-18 23:22:16","post_modified_gmt":"2024-05-18 13:22:16","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16932","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":16843,"post_author":"15","post_date":"2024-05-13 00:31:20","post_date_gmt":"2024-05-12 14:31:20","post_content":"\n

Former U.S. President Donald Trump expressed his intention to enable the use of cryptocurrency for campaign donations. In videos <\/a>shared by NFT creator and influencer Frank Degods, Trump indicated to a group of NFT buyers his willingness to accept crypto donations for his campaign.<\/p>\n\n\n\n

He assured, \"If you can't, I'll make sure you can.\"<\/em> Additionally, he suggested that President Joe Biden lacks an understanding of cryptocurrency and urged crypto supporters to vote for him.<\/p>\n\n\n\n

Trump's remarks were made during a gathering he organized to meet with buyers of his \"Mugshot Edition\" NFTs. Attendees, who individually purchased over 47 NFTs priced at $99 each, were invited to a dinner on their day off from trial. Trump boasted about revitalizing interest in NFTs, stating, \"We made NFTs hot again.\"<\/p>\n\n\n\n

Regarding the crypto industry's presence in the U.S., Trump pledged to work towards retaining it, emphasizing the importance of embracing crypto businesses. His statements led to an 18.5% surge in the \"Jeo Boden\" memecoin, inspired by President Biden, according to CoinMarketCap data<\/a>. Trump expressed skepticism about the token's market capitalization, deeming it excessive.<\/p>\n\n\n\n

See Related: <\/em><\/strong>Trump Drops Series 2 Of Digital Trading Card NFTs On Polygon<\/a><\/p>\n\n\n\n

U.S. Presidency Candidates And Their Stance On Crypto<\/h2>\n\n\n\n

As the 2024 U.S. presidential election nears, candidates face scrutiny over their stance on cryptocurrency regulation. Republican nominee and former President Donald Trump has shown enthusiasm. <\/p>\n\n\n\n

On the other hand, the Democratic nominee emphasizes balanced regulation to safeguard consumers and curb illegal activities, reflecting broader party sentiments. However, within each party, there's a range of views, from advocating for stringent oversight to promoting innovation. With crypto's increasing impact across sectors, including finance and technology, the candidates' positions are poised to shape the industry's future and its interaction with the government.<\/p>\n","post_title":"Trump Pledges To Accept Cryptocurrency For Campaign Donations","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"trump-pledges-to-accept-cryptocurrency-for-campaign-donations","to_ping":"","pinged":"","post_modified":"2024-05-13 00:31:26","post_modified_gmt":"2024-05-12 14:31:26","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16843","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":16856,"post_author":"15","post_date":"2024-05-12 20:19:19","post_date_gmt":"2024-05-12 10:19:19","post_content":"\n

Wells Fargo, a prominent American bank, revealed its investments in several Bitcoin exchange-traded funds (ETFs) in a recent regulatory filing. This move aligns Wells Fargo with other institutions embracing crypto-based investment vehicles. <\/p>\n\n\n\n

According to the filing <\/a>with the U.S. Securities and Exchange Commission (SEC), the bank has purchased shares of Grayscale's GBTC spot Bitcoin ETF and has exposure to Bitcoin Depot Inc., a Bitcoin ATM provider. Additionally, the filing shows that Wells Fargo has invested in the ProShares Bitcoin Strategy ETF (BITO), which offers investors exposure to BTC futures\u2014contracts speculating on the future price of the asset.<\/p>\n\n\n\n

Despite these investments, Wells Fargo's exposure to Bitcoin ETFs remains relatively small. The filing indicates that its investment in GBTC amounts to $141,817, while its investment in ProShares is under $1,200. The exposure to Bitcoin Depot stands at just $99.<\/p>\n\n\n\n

This disclosure comes after a report in February suggested that Wells Fargo, along with Bank of America's Merrill division, was providing its wealth management clients with exposure to Bitcoin ETFs via brokerage accounts. Wells Fargo has shown repeated interest in digital assets and even piloted its digital currency back in 2019.<\/p>\n\n\n\n

See Related:<\/em><\/strong> Bitcoin ETFs Hit Mainstream: BofA\u2019s Merrill, Wells Fargo Now Offer Spot Trading<\/a><\/p>\n\n\n\n

Bitcoin spot ETF era<\/h2>\n\n\n\n

The SEC's approval of 11 spot BTC ETFs in January has led to significant success for these products. This success mirrors the soaring price of Bitcoin, which reached an all-time high of $73,747 in March. The Bitcoin spot ETF issuers now hold 847,427 BTC which is at $50 billion at the time of writing. <\/p>\n\n\n\n

Hong Kong recently approved and started trading Bitcoin and Ethereum spot ETF. <\/p>\n","post_title":"Wells Fargo Dips Toes Into Crypto With Bitcoin ETF Investments","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"wells-fargo-dips-toes-into-crypto-with-bitcoin-etf-investments","to_ping":"","pinged":"","post_modified":"2024-05-12 20:19:23","post_modified_gmt":"2024-05-12 10:19:23","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16856","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":16761,"post_author":"15","post_date":"2024-05-06 23:24:50","post_date_gmt":"2024-05-06 13:24:50","post_content":"\n

The Grayscale Bitcoin Trust ETF ($GBTC) recently experienced a shift in its financial trend. It registers an inflow of $63 million and breaks an 11-week rally of net losses according to the Farside Investors<\/a>.<\/p>\n\n\n\n

\"Bitcoin
Since the inception of Bitcoin spot ETF in the U.S., GBTC has recorded outflows every single trading day.<\/figcaption><\/figure>\n\n\n\n

Bloomberg ETF analyst Eric Balchunas expressed his surprise<\/a> on Twitter, stating, \"Holy crap $GBTC had inflows today,\" and noted that their nearly 80-day streak of outflows had ended. He humorously remarked on the significance of this change, asking his followers to rate how significant this turnaround was for GBTC.<\/p>\n\n\n\n

Despite these challenges, GBTC remains the largest Bitcoin spot ETF, managing over $18.7 billion in assets and holding approximately 297,000 Bitcoin. However, consistent withdrawals have allowed new entrants like the BlackRock iShares Bitcoin Trust (IBIT), which now has $17.2 billion in assets, to narrow the gap.<\/p>\n\n\n\n

This news comes shortly after a downturn for IBIT, which saw a reduction of $37 million just a day earlier, as per Farside Investors. This event was part of a broader trend that saw the ETF market experience its worst day ever, with a total outflow of $563 million amid a decline in Bitcoin prices.<\/p>\n\n\n\n

See Related:<\/em><\/strong> GBTC Price Prediction after Judges Raised Hope for Investors In Favour Of Grayscale<\/a><\/p>\n\n\n\n

Bitcoin ETF in Asia<\/h2>\n\n\n\n

Hong Kong has recently made strides in the cryptocurrency market with the introduction of spot exchange-traded funds (ETFs) for Bitcoin and Ethereum. This development reflects Hong Kong's growing embrace of digital currencies and its ambition to become a major hub for cryptocurrency trading and finance. <\/p>\n\n\n\n

The trading started last April 30 and shows $12 million in trading volume on its first day. Bitcoin spot ETF recorded a $8.5 million and Ethereum spot ETF $2.5 million in trading volume. <\/p>\n","post_title":"Grayscale Bitcoin Trust Rebounds With $63 Million Influx After 80-Day Drought","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"grayscale-bitcoin-trust-rebounds-with-63-million-influx-after-80-day-drought","to_ping":"","pinged":"","post_modified":"2024-05-06 23:24:54","post_modified_gmt":"2024-05-06 13:24:54","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16761","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":16722,"post_author":"15","post_date":"2024-05-04 02:07:14","post_date_gmt":"2024-05-03 16:07:14","post_content":"\n

Elliptic, a blockchain analysis firm, released a study <\/a>conducted with the MIT-IBM Watson AI Lab on Wednesday. This study utilized a deep learning AI model to identify money laundering patterns within Bitcoin transactions and pinpoint wallets involved in criminal activities.<\/p>\n\n\n\n

Bitcoin's use of a decentralized public ledger, a fundamental aspect of the technology, facilitated the research, according to Elliptic. The collaboration between Elliptic and MIT-IBM leveraged AI to distinguish between legal and illegal transactions, tracking connections within the latter to expose potential money laundering activities.<\/p>\n\n\n\n

Elliptic stated, \u201cBlockchains provide fertile ground for machine learning techniques, thanks to the availability of both transaction data and information on the types of entities that are transacting, collected by us and others. This is in contrast to traditional finance where transaction data is typically siloed, making it challenging to apply these techniques.\u201d<\/em><\/p>\n\n\n\n

Elliptic clarified that instead of directly identifying transactions by illicit actors, the machine learning model is trained to recognize 'subgraphs'\u2014sequences of transactions that depict the laundering of Bitcoin. This method focuses more broadly on the multi-step laundering process rather than specific illegal actions on the blockchain.<\/p>\n\n\n\n

See Related:<\/em><\/strong> Binance's $3.9 Billion USDT Transfer Sparks Speculation Amidst CEO's Guilty Plea<\/a><\/p>\n\n\n\n

Money Laundering in 2024 Reports<\/h2>\n\n\n\n

In 2023, the volume of cryptocurrency involved in money laundering activities decreased significantly, with centralized exchanges continuing as the primary channels for such transactions. DeFi protocols and gambling services saw an uptick in use for laundering, yet they generally lack the anonymity preferred by launderers.<\/p>\n\n\n\n

Sophisticated criminals, particularly North Korea's Lazarus Group, adapted to law enforcement tactics by employing new mixers and utilizing cross-chain bridges to launder funds. These methods allow them to obfuscate the origins of illicit funds more effectively across multiple blockchain platforms, demonstrating a dynamic shift in the techniques used by high-level criminal enterprises to evade detection.<\/p>\n","post_title":"AI Powers New Tool To Detect Illegal Bitcoin Transactions, Study Shows","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"ai-powers-new-tool-to-detect-illegal-bitcoin-transactions-study-shows","to_ping":"","pinged":"","post_modified":"2024-05-04 02:07:20","post_modified_gmt":"2024-05-03 16:07:20","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16722","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":16491,"post_author":"15","post_date":"2024-04-21 10:09:53","post_date_gmt":"2024-04-21 00:09:53","post_content":"\n

Entrepreneur and Dallas Mavericks owner Mark Cuban recently discussed the implications of the upcoming Bitcoin halving. He emphasized its significant impact on miner revenues.<\/p>\n\n\n\n

During an interview <\/a>with The Block, Cuban pointed out that the halving will reduce mining rewards from 6.25 BTC to 3.125 BTC, effectively slashing the income for bitcoin miners by nearly half. However, Cuban expressed greater curiosity about the role artificial intelligence (AI) might play in the mining sector, especially concerning the demand for GPUs.<\/p>\n\n\n\n

Cuban highlighted the intense competition between AI's needs for GPUs and cryptocurrency mining's demands. He questioned whether the economic landscape of mining could be altered by the booming AI industry, asking if it might be more profitable to utilize GPUs for AI model training rather than mining. This issue primarily affects miners using GPUs for cryptocurrencies other than Bitcoin, which typically relies on ASIC machines.<\/p>\n\n\n\n

The intersection of AI and cryptocurrency mining is already seeing practical applications, with companies like Xive and Hive Digital Technologies expanding into AI to bolster their primary mining operations. <\/p>\n\n\n\n

See Related:<\/em><\/strong> Cryptocurrency Statistics And Insights (2022)<\/a><\/p>\n\n\n\n

Bitcoin Halving is Coming<\/h2>\n\n\n\n

Bitcoin halving is a significant event in the cryptocurrency world that occurs approximately every four years, or after 210,000 blocks are mined. During a halving, bitcoin miners' reward for verifying transactions and adding them to the blockchain is reduced by half. This mechanism was designed by Satoshi Nakamoto, the anonymous creator of Bitcoin, to control inflation by limiting the total number of bitcoins that can ever be in circulation to 21 million.<\/p>\n\n\n\n

As of writing, the price of Bitcoin is at $63,760, and 2 blocks remaining until the next Bitcoin halving.<\/p>\n","post_title":"Bitcoin Halving To Slash Miner Earnings, Cuban Eyes AI Shift","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"bitcoin-halving-to-slash-miner-earnings-cuban-eyes-ai-shift","to_ping":"","pinged":"","post_modified":"2024-04-21 10:10:00","post_modified_gmt":"2024-04-21 00:10:00","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16491","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":16460,"post_author":"15","post_date":"2024-04-19 23:38:06","post_date_gmt":"2024-04-19 13:38:06","post_content":"\n

Binance, the leading global cryptocurrency exchange, is set to make a comeback in India after agreeing to pay a $2 million penalty. This development follows a period of stringent regulatory scrutiny where the Indian government blocked nine cryptocurrency websites. They also prompted the removal of related apps from Apple and Google stores due to non-compliance with local laws. <\/p>\n\n\n\n

According to the Economic Times<\/a>, sources close to the matter indicate that Binance is restructuring its operations in South Asia. The cryptocurrency exchange is planning to fully comply with the Financial Intelligence Unit of India, which regulates the local trading of digital assets.<\/p>\n\n\n\n

The move comes as part of Binance's efforts to align with India's financial regulations, including adherence to anti-money laundering and taxation statutes. Before the crackdown, Binance held a commanding presence in the Indian market, with an estimated 90% of crypto holdings among Indian investors, totaling about $4 billion.<\/p>\n\n\n\n

See Related:<\/em><\/strong> Indian Parliament Passes A 30% Crypto Tax Law<\/a><\/p>\n\n\n\n

Nigeria Detains Binance Executives<\/h2>\n\n\n\n

Two months ago, Nigeria detained two executives of the Binance after they flew into the country. The country's Office of the National Security Adviser detained the two, and their passports were seized. <\/p>\n\n\n\n

Nigerian officials have leveled several charges against the cryptocurrency exchange Binance. The allegation includes exploiting the local economy, contributing to the devaluation of the Nigerian naira, and engaging in money laundering activities. They allege that Binance has been involved in manipulating the exchange rates by engaging in speculative actions and fixing rates. Furthermore, the Nigerian government has expressed concerns over $26 billion in transactions carried out on Binance's platform, which they report as being untraceable.<\/p>\n\n\n\n

Binance has denied any wrongdoing, but this is not the first time it has bumped heads with regulators.<\/p>\n","post_title":"Binance Set To Re-enter Indian Market with $2 Million Fine Settlement","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"binance-set-to-re-enter-indian-market-with-2-million-fine-settlement","to_ping":"","pinged":"","post_modified":"2024-04-20 04:11:08","post_modified_gmt":"2024-04-19 18:11:08","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16460","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":16362,"post_author":"15","post_date":"2024-04-15 03:52:59","post_date_gmt":"2024-04-14 17:52:59","post_content":"\n

Hong Kong is on the brink of approving spot exchange-traded funds (ETFs) for bitcoin and ether, potentially by Monday, Bloomberg reports<\/a>. This anticipated approval is poised to influence the cryptocurrency markets in the near term. The ETFs, if launched, will enable investors to trade bitcoin and ether on regulated platforms, enhancing the legitimacy and stability of investing in cryptocurrencies.<\/p>\n\n\n\n

Bloomberg\u2019s sources suggest that if the Hong Kong Exchanges & Clearing can finalize the listing details promptly, trading could commence by the end of April. Harvest Global Investments and Bosera Asset Management, in collaboration with HashKey Capital, are frontrunners in receiving the first approvals for these spot cryptocurrency ETFs. This move could cement Hong Kong's position as a major hub for digital assets in Asia, particularly if it leads to a successful market response similar to the U.S., where the approval of bitcoin ETFs in January triggered a price rally, pushing bitcoin\u2019s value to $73,000.<\/p>\n\n\n\n

However, unlike in the U.S., where ether ETFs have not yet been approved, Hong Kong might take the lead in this area as well. The city's market regulator, the Securities and Futures Commission (SFC), has not commented on the developments. Similarly, inquiries to Harvest Global Investments, Bosera Asset Management, HashKey Capital, and HKEX received no immediate response.<\/p>\n\n\n\n

See Related: <\/em><\/strong>Hong Kong Invests Over $6.4M Into Web 3 Development<\/a><\/p>\n\n\n\n

Ether ETF Update<\/h2>\n\n\n\n

The U.S. Securities and Exchange Commission (SEC) has once again delayed its decision on the application for an Ether ETF. A new deadline is set for May 23<\/a>.<\/p>\n\n\n\n

Despite this, analysts remain cautiously optimistic, estimating a 60% chance<\/a> of eventual approval. These delays and the ongoing review process indicate that the SEC is maintaining a cautious approach towards the approval of Ether ETFs. It reflects the complexities involved in integrating such products into the financial system.<\/p>\n","post_title":"Hong Kong Set to Approve Bitcoin And Ether ETFs By Monday","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"hong-kong-set-to-approve-bitcoin-and-ether-etfs-by-monday","to_ping":"","pinged":"","post_modified":"2024-04-15 03:53:05","post_modified_gmt":"2024-04-14 17:53:05","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16362","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":16347,"post_author":"15","post_date":"2024-04-14 00:03:48","post_date_gmt":"2024-04-13 14:03:48","post_content":"\n

Bitfinex Securities El Salvador is initiating a tokenized debt offering to fund the development of a Hampton by Hilton hotel complex spanning 4,484 square meters at El Salvador International Airport.<\/p>\n\n\n\n

In January, Bitfinex Securities<\/a> became the inaugural regulated entity to obtain a license to operate in El Salvador under the country\u2019s newly enacted Digital Asset Securities Law. This move anticipated a surge in demand for regulated investment vehicles, following the successful introduction of U.S. spot bitcoin exchange-traded funds.<\/p>\n\n\n\n

At the time, the tokenized securities platform announced its acceptance of customer applications and outlined a pipeline of potential financial asset issuances projected to launch in the year's first half.<\/p>\n\n\n\n

The tokenized debt, issued by El Salvadoran firm Inversiones Laguardia S.A. de C.V., is poised to be the inaugural token to trade on the platform. Utilizing the Liquid Network, a Bitcoin sidechain, the token will be denoted as HILSV and traded against U.S. dollars and Tether\u2019s USDT stablecoin.<\/p>\n\n\n\n

See Related: <\/em><\/strong>El Salvador Businesses Barely Impacted By Bitcoins Legality<\/a><\/p>\n\n\n\n

El Salvador Leads The Way<\/h2>\n\n\n\n


El Salvador stands at the forefront of cryptocurrency adoption wherein Bitcoin is recognized as legal tender. Since June 2021, it has been the first country to embrace Bitcoin alongside the US dollar for everyday transactions, making significant strides in the global crypto landscape. <\/p>\n\n\n\n

Under President Nayib Bukele, the government has initiated a groundbreaking project, where the state purchases one Bitcoin daily to bolster its reserves. <\/p>\n","post_title":"Bitfinex Securities Launches Tokenized Debt Offering For A Hotel In El Salvador","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"bitfinex-securities-launches-tokenized-debt-offering-for-a-hotel-in-el-salvador","to_ping":"","pinged":"","post_modified":"2024-04-14 00:03:52","post_modified_gmt":"2024-04-13 14:03:52","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16347","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

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\n

According to a post <\/a>by Venezuela\u2019s National Association of Cryptocurrencies on X, cryptocurrency mining is now prohibited in Venezuela. This move comes after a recent crackdown where 2,000 cryptocurrency mining devices were confiscated in Maracay as part of an anti-corruption drive.<\/p>\n\n\n\n

The ministry stressed the importance of providing efficient and reliable electrical service throughout Venezuela by eliminating the burden caused by these high-energy-consuming farms. Officials stated that these measures are crucial to stabilizing the national power supply, which has been unstable for the past decade.<\/p>\n\n\n\n

The country has been experiencing frequent blackouts, particularly since 2019, severely affecting residents' daily lives and overall economic activities.<\/p>\n\n\n\n

See Related:<\/em><\/strong> South Korean Government To Invest $187M Into The Metaverse<\/a><\/p>\n\n\n\n

Other Countries' Approaches<\/h2>\n\n\n\n

Some countries, such as China and Kazakhstan, have responded to the high electricity demands of cryptocurrency mining by implementing strict regulations or outright bans on the practice.<\/p>\n\n\n\n

On the other, Oklahoma just recently legalized crypto mining in homes as long as it complies with the noise policy. This includes operating nodes for operations like staking.<\/p>\n","post_title":"Venezuela Cracks Down On Crypto Mining To Save Electricity","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"venezuela-cracks-down-on-crypto-mining-to-save-electricity","to_ping":"","pinged":"","post_modified":"2024-05-20 04:44:44","post_modified_gmt":"2024-05-19 18:44:44","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16985","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":16932,"post_author":"15","post_date":"2024-05-18 23:22:10","post_date_gmt":"2024-05-18 13:22:10","post_content":"\n

The world's second-largest asset manager announced <\/a>on Tuesday the appointment of Salim Ramji as its new CEO. Mr Ramji's new role will be effective on July 8. Unlike his predecessor Tim Buckley and the broader company, Ramji is a known supporter of Bitcoin.<\/p>\n\n\n\n

Bloomberg ETF analyst Eric Balchunas noted that this is the \"first time ever\" that Vanguard has hired externally for its top position. Balchunas, who was \"semi-shocked\" by the move, explained that previous CEOs were \"internal stars\" and former aides to the late founder John Bogle.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/EricBalchunas\/status\/1790498386203869352\n<\/div><\/figure>\n\n\n\n

Mr. Ramji is a seasoned financial services executive with over 25 years of experience in investments, capital markets, and wealth management. He spent a decade in senior leadership roles at BlackRock Inc., departing in January 2024. Most recently, he served as Global Head of iShares & Index Investing, overseeing the management of the majority of the firm's client assets and enhancing the iShares platform to offer a wider array of innovative, low-cost products for investors worldwide.<\/p>\n\n\n\n

See Related:<\/em><\/strong> SandStorm Launches On-Demand Metaverse Builds with 5 Virtual World Partners<\/a><\/p>\n\n\n\n

But Vanguard's Not A Bitcoin Lover<\/h2>\n\n\n\n

Vanguard has taken a different stance. In January, Bitcoin investors were surprised to find that Vanguard did not list Bitcoin spot ETFs from providers like BlackRock and Fidelity, citing inconsistencies with its \"investment philosophy.\"<\/p>\n\n\n\n

Balchunas pointed out that Vanguard inherited John Bogle's philosophy, favoring assets with intrinsic cash flow over commodities like BTC. In 2017, Bogle advised investors to \"avoid Bitcoin like the plague.\"<\/em><\/p>\n\n\n\n

\"Bitcoin is too volatile and not a store of value. It hasn't been, and it's very volatile,\"<\/em> Buckley said in a March interview. \"It's tough to see how it fits into a long-term portfolio.\"<\/em><\/p>\n\n\n\n

After over three decades at Vanguard, Buckley announced in February that he would retire by the end of the year, shortly after the Bitcoin ETFs went live. Many investors believed the timing was significant, suggesting Vanguard regretted missing out on the most successful ETF launch in history.<\/p>\n\n\n\n

\"I still think it's unlikely that this means Vanguard will launch a Bitcoin ETF (at least in the near term),\" <\/em>tweeted Bloomberg Intelligence's James Seyffart on Tuesday. \"But I think Salim could change Vanguard\u2019s stance on allowing their clients to buy spot Bitcoin ETFs on their brokerage platform.\"<\/em><\/p>\n","post_title":"Vanguard Hires Bitcoin Advocate Salim Ramji As New CEO","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"vanguard-hires-bitcoin-advocate-salim-ramji-as-new-ceo","to_ping":"","pinged":"","post_modified":"2024-05-18 23:22:16","post_modified_gmt":"2024-05-18 13:22:16","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16932","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":16843,"post_author":"15","post_date":"2024-05-13 00:31:20","post_date_gmt":"2024-05-12 14:31:20","post_content":"\n

Former U.S. President Donald Trump expressed his intention to enable the use of cryptocurrency for campaign donations. In videos <\/a>shared by NFT creator and influencer Frank Degods, Trump indicated to a group of NFT buyers his willingness to accept crypto donations for his campaign.<\/p>\n\n\n\n

He assured, \"If you can't, I'll make sure you can.\"<\/em> Additionally, he suggested that President Joe Biden lacks an understanding of cryptocurrency and urged crypto supporters to vote for him.<\/p>\n\n\n\n

Trump's remarks were made during a gathering he organized to meet with buyers of his \"Mugshot Edition\" NFTs. Attendees, who individually purchased over 47 NFTs priced at $99 each, were invited to a dinner on their day off from trial. Trump boasted about revitalizing interest in NFTs, stating, \"We made NFTs hot again.\"<\/p>\n\n\n\n

Regarding the crypto industry's presence in the U.S., Trump pledged to work towards retaining it, emphasizing the importance of embracing crypto businesses. His statements led to an 18.5% surge in the \"Jeo Boden\" memecoin, inspired by President Biden, according to CoinMarketCap data<\/a>. Trump expressed skepticism about the token's market capitalization, deeming it excessive.<\/p>\n\n\n\n

See Related: <\/em><\/strong>Trump Drops Series 2 Of Digital Trading Card NFTs On Polygon<\/a><\/p>\n\n\n\n

U.S. Presidency Candidates And Their Stance On Crypto<\/h2>\n\n\n\n

As the 2024 U.S. presidential election nears, candidates face scrutiny over their stance on cryptocurrency regulation. Republican nominee and former President Donald Trump has shown enthusiasm. <\/p>\n\n\n\n

On the other hand, the Democratic nominee emphasizes balanced regulation to safeguard consumers and curb illegal activities, reflecting broader party sentiments. However, within each party, there's a range of views, from advocating for stringent oversight to promoting innovation. With crypto's increasing impact across sectors, including finance and technology, the candidates' positions are poised to shape the industry's future and its interaction with the government.<\/p>\n","post_title":"Trump Pledges To Accept Cryptocurrency For Campaign Donations","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"trump-pledges-to-accept-cryptocurrency-for-campaign-donations","to_ping":"","pinged":"","post_modified":"2024-05-13 00:31:26","post_modified_gmt":"2024-05-12 14:31:26","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16843","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":16856,"post_author":"15","post_date":"2024-05-12 20:19:19","post_date_gmt":"2024-05-12 10:19:19","post_content":"\n

Wells Fargo, a prominent American bank, revealed its investments in several Bitcoin exchange-traded funds (ETFs) in a recent regulatory filing. This move aligns Wells Fargo with other institutions embracing crypto-based investment vehicles. <\/p>\n\n\n\n

According to the filing <\/a>with the U.S. Securities and Exchange Commission (SEC), the bank has purchased shares of Grayscale's GBTC spot Bitcoin ETF and has exposure to Bitcoin Depot Inc., a Bitcoin ATM provider. Additionally, the filing shows that Wells Fargo has invested in the ProShares Bitcoin Strategy ETF (BITO), which offers investors exposure to BTC futures\u2014contracts speculating on the future price of the asset.<\/p>\n\n\n\n

Despite these investments, Wells Fargo's exposure to Bitcoin ETFs remains relatively small. The filing indicates that its investment in GBTC amounts to $141,817, while its investment in ProShares is under $1,200. The exposure to Bitcoin Depot stands at just $99.<\/p>\n\n\n\n

This disclosure comes after a report in February suggested that Wells Fargo, along with Bank of America's Merrill division, was providing its wealth management clients with exposure to Bitcoin ETFs via brokerage accounts. Wells Fargo has shown repeated interest in digital assets and even piloted its digital currency back in 2019.<\/p>\n\n\n\n

See Related:<\/em><\/strong> Bitcoin ETFs Hit Mainstream: BofA\u2019s Merrill, Wells Fargo Now Offer Spot Trading<\/a><\/p>\n\n\n\n

Bitcoin spot ETF era<\/h2>\n\n\n\n

The SEC's approval of 11 spot BTC ETFs in January has led to significant success for these products. This success mirrors the soaring price of Bitcoin, which reached an all-time high of $73,747 in March. The Bitcoin spot ETF issuers now hold 847,427 BTC which is at $50 billion at the time of writing. <\/p>\n\n\n\n

Hong Kong recently approved and started trading Bitcoin and Ethereum spot ETF. <\/p>\n","post_title":"Wells Fargo Dips Toes Into Crypto With Bitcoin ETF Investments","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"wells-fargo-dips-toes-into-crypto-with-bitcoin-etf-investments","to_ping":"","pinged":"","post_modified":"2024-05-12 20:19:23","post_modified_gmt":"2024-05-12 10:19:23","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16856","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":16761,"post_author":"15","post_date":"2024-05-06 23:24:50","post_date_gmt":"2024-05-06 13:24:50","post_content":"\n

The Grayscale Bitcoin Trust ETF ($GBTC) recently experienced a shift in its financial trend. It registers an inflow of $63 million and breaks an 11-week rally of net losses according to the Farside Investors<\/a>.<\/p>\n\n\n\n

\"Bitcoin
Since the inception of Bitcoin spot ETF in the U.S., GBTC has recorded outflows every single trading day.<\/figcaption><\/figure>\n\n\n\n

Bloomberg ETF analyst Eric Balchunas expressed his surprise<\/a> on Twitter, stating, \"Holy crap $GBTC had inflows today,\" and noted that their nearly 80-day streak of outflows had ended. He humorously remarked on the significance of this change, asking his followers to rate how significant this turnaround was for GBTC.<\/p>\n\n\n\n

Despite these challenges, GBTC remains the largest Bitcoin spot ETF, managing over $18.7 billion in assets and holding approximately 297,000 Bitcoin. However, consistent withdrawals have allowed new entrants like the BlackRock iShares Bitcoin Trust (IBIT), which now has $17.2 billion in assets, to narrow the gap.<\/p>\n\n\n\n

This news comes shortly after a downturn for IBIT, which saw a reduction of $37 million just a day earlier, as per Farside Investors. This event was part of a broader trend that saw the ETF market experience its worst day ever, with a total outflow of $563 million amid a decline in Bitcoin prices.<\/p>\n\n\n\n

See Related:<\/em><\/strong> GBTC Price Prediction after Judges Raised Hope for Investors In Favour Of Grayscale<\/a><\/p>\n\n\n\n

Bitcoin ETF in Asia<\/h2>\n\n\n\n

Hong Kong has recently made strides in the cryptocurrency market with the introduction of spot exchange-traded funds (ETFs) for Bitcoin and Ethereum. This development reflects Hong Kong's growing embrace of digital currencies and its ambition to become a major hub for cryptocurrency trading and finance. <\/p>\n\n\n\n

The trading started last April 30 and shows $12 million in trading volume on its first day. Bitcoin spot ETF recorded a $8.5 million and Ethereum spot ETF $2.5 million in trading volume. <\/p>\n","post_title":"Grayscale Bitcoin Trust Rebounds With $63 Million Influx After 80-Day Drought","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"grayscale-bitcoin-trust-rebounds-with-63-million-influx-after-80-day-drought","to_ping":"","pinged":"","post_modified":"2024-05-06 23:24:54","post_modified_gmt":"2024-05-06 13:24:54","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16761","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":16722,"post_author":"15","post_date":"2024-05-04 02:07:14","post_date_gmt":"2024-05-03 16:07:14","post_content":"\n

Elliptic, a blockchain analysis firm, released a study <\/a>conducted with the MIT-IBM Watson AI Lab on Wednesday. This study utilized a deep learning AI model to identify money laundering patterns within Bitcoin transactions and pinpoint wallets involved in criminal activities.<\/p>\n\n\n\n

Bitcoin's use of a decentralized public ledger, a fundamental aspect of the technology, facilitated the research, according to Elliptic. The collaboration between Elliptic and MIT-IBM leveraged AI to distinguish between legal and illegal transactions, tracking connections within the latter to expose potential money laundering activities.<\/p>\n\n\n\n

Elliptic stated, \u201cBlockchains provide fertile ground for machine learning techniques, thanks to the availability of both transaction data and information on the types of entities that are transacting, collected by us and others. This is in contrast to traditional finance where transaction data is typically siloed, making it challenging to apply these techniques.\u201d<\/em><\/p>\n\n\n\n

Elliptic clarified that instead of directly identifying transactions by illicit actors, the machine learning model is trained to recognize 'subgraphs'\u2014sequences of transactions that depict the laundering of Bitcoin. This method focuses more broadly on the multi-step laundering process rather than specific illegal actions on the blockchain.<\/p>\n\n\n\n

See Related:<\/em><\/strong> Binance's $3.9 Billion USDT Transfer Sparks Speculation Amidst CEO's Guilty Plea<\/a><\/p>\n\n\n\n

Money Laundering in 2024 Reports<\/h2>\n\n\n\n

In 2023, the volume of cryptocurrency involved in money laundering activities decreased significantly, with centralized exchanges continuing as the primary channels for such transactions. DeFi protocols and gambling services saw an uptick in use for laundering, yet they generally lack the anonymity preferred by launderers.<\/p>\n\n\n\n

Sophisticated criminals, particularly North Korea's Lazarus Group, adapted to law enforcement tactics by employing new mixers and utilizing cross-chain bridges to launder funds. These methods allow them to obfuscate the origins of illicit funds more effectively across multiple blockchain platforms, demonstrating a dynamic shift in the techniques used by high-level criminal enterprises to evade detection.<\/p>\n","post_title":"AI Powers New Tool To Detect Illegal Bitcoin Transactions, Study Shows","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"ai-powers-new-tool-to-detect-illegal-bitcoin-transactions-study-shows","to_ping":"","pinged":"","post_modified":"2024-05-04 02:07:20","post_modified_gmt":"2024-05-03 16:07:20","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16722","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":16491,"post_author":"15","post_date":"2024-04-21 10:09:53","post_date_gmt":"2024-04-21 00:09:53","post_content":"\n

Entrepreneur and Dallas Mavericks owner Mark Cuban recently discussed the implications of the upcoming Bitcoin halving. He emphasized its significant impact on miner revenues.<\/p>\n\n\n\n

During an interview <\/a>with The Block, Cuban pointed out that the halving will reduce mining rewards from 6.25 BTC to 3.125 BTC, effectively slashing the income for bitcoin miners by nearly half. However, Cuban expressed greater curiosity about the role artificial intelligence (AI) might play in the mining sector, especially concerning the demand for GPUs.<\/p>\n\n\n\n

Cuban highlighted the intense competition between AI's needs for GPUs and cryptocurrency mining's demands. He questioned whether the economic landscape of mining could be altered by the booming AI industry, asking if it might be more profitable to utilize GPUs for AI model training rather than mining. This issue primarily affects miners using GPUs for cryptocurrencies other than Bitcoin, which typically relies on ASIC machines.<\/p>\n\n\n\n

The intersection of AI and cryptocurrency mining is already seeing practical applications, with companies like Xive and Hive Digital Technologies expanding into AI to bolster their primary mining operations. <\/p>\n\n\n\n

See Related:<\/em><\/strong> Cryptocurrency Statistics And Insights (2022)<\/a><\/p>\n\n\n\n

Bitcoin Halving is Coming<\/h2>\n\n\n\n

Bitcoin halving is a significant event in the cryptocurrency world that occurs approximately every four years, or after 210,000 blocks are mined. During a halving, bitcoin miners' reward for verifying transactions and adding them to the blockchain is reduced by half. This mechanism was designed by Satoshi Nakamoto, the anonymous creator of Bitcoin, to control inflation by limiting the total number of bitcoins that can ever be in circulation to 21 million.<\/p>\n\n\n\n

As of writing, the price of Bitcoin is at $63,760, and 2 blocks remaining until the next Bitcoin halving.<\/p>\n","post_title":"Bitcoin Halving To Slash Miner Earnings, Cuban Eyes AI Shift","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"bitcoin-halving-to-slash-miner-earnings-cuban-eyes-ai-shift","to_ping":"","pinged":"","post_modified":"2024-04-21 10:10:00","post_modified_gmt":"2024-04-21 00:10:00","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16491","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":16460,"post_author":"15","post_date":"2024-04-19 23:38:06","post_date_gmt":"2024-04-19 13:38:06","post_content":"\n

Binance, the leading global cryptocurrency exchange, is set to make a comeback in India after agreeing to pay a $2 million penalty. This development follows a period of stringent regulatory scrutiny where the Indian government blocked nine cryptocurrency websites. They also prompted the removal of related apps from Apple and Google stores due to non-compliance with local laws. <\/p>\n\n\n\n

According to the Economic Times<\/a>, sources close to the matter indicate that Binance is restructuring its operations in South Asia. The cryptocurrency exchange is planning to fully comply with the Financial Intelligence Unit of India, which regulates the local trading of digital assets.<\/p>\n\n\n\n

The move comes as part of Binance's efforts to align with India's financial regulations, including adherence to anti-money laundering and taxation statutes. Before the crackdown, Binance held a commanding presence in the Indian market, with an estimated 90% of crypto holdings among Indian investors, totaling about $4 billion.<\/p>\n\n\n\n

See Related:<\/em><\/strong> Indian Parliament Passes A 30% Crypto Tax Law<\/a><\/p>\n\n\n\n

Nigeria Detains Binance Executives<\/h2>\n\n\n\n

Two months ago, Nigeria detained two executives of the Binance after they flew into the country. The country's Office of the National Security Adviser detained the two, and their passports were seized. <\/p>\n\n\n\n

Nigerian officials have leveled several charges against the cryptocurrency exchange Binance. The allegation includes exploiting the local economy, contributing to the devaluation of the Nigerian naira, and engaging in money laundering activities. They allege that Binance has been involved in manipulating the exchange rates by engaging in speculative actions and fixing rates. Furthermore, the Nigerian government has expressed concerns over $26 billion in transactions carried out on Binance's platform, which they report as being untraceable.<\/p>\n\n\n\n

Binance has denied any wrongdoing, but this is not the first time it has bumped heads with regulators.<\/p>\n","post_title":"Binance Set To Re-enter Indian Market with $2 Million Fine Settlement","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"binance-set-to-re-enter-indian-market-with-2-million-fine-settlement","to_ping":"","pinged":"","post_modified":"2024-04-20 04:11:08","post_modified_gmt":"2024-04-19 18:11:08","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16460","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":16362,"post_author":"15","post_date":"2024-04-15 03:52:59","post_date_gmt":"2024-04-14 17:52:59","post_content":"\n

Hong Kong is on the brink of approving spot exchange-traded funds (ETFs) for bitcoin and ether, potentially by Monday, Bloomberg reports<\/a>. This anticipated approval is poised to influence the cryptocurrency markets in the near term. The ETFs, if launched, will enable investors to trade bitcoin and ether on regulated platforms, enhancing the legitimacy and stability of investing in cryptocurrencies.<\/p>\n\n\n\n

Bloomberg\u2019s sources suggest that if the Hong Kong Exchanges & Clearing can finalize the listing details promptly, trading could commence by the end of April. Harvest Global Investments and Bosera Asset Management, in collaboration with HashKey Capital, are frontrunners in receiving the first approvals for these spot cryptocurrency ETFs. This move could cement Hong Kong's position as a major hub for digital assets in Asia, particularly if it leads to a successful market response similar to the U.S., where the approval of bitcoin ETFs in January triggered a price rally, pushing bitcoin\u2019s value to $73,000.<\/p>\n\n\n\n

However, unlike in the U.S., where ether ETFs have not yet been approved, Hong Kong might take the lead in this area as well. The city's market regulator, the Securities and Futures Commission (SFC), has not commented on the developments. Similarly, inquiries to Harvest Global Investments, Bosera Asset Management, HashKey Capital, and HKEX received no immediate response.<\/p>\n\n\n\n

See Related: <\/em><\/strong>Hong Kong Invests Over $6.4M Into Web 3 Development<\/a><\/p>\n\n\n\n

Ether ETF Update<\/h2>\n\n\n\n

The U.S. Securities and Exchange Commission (SEC) has once again delayed its decision on the application for an Ether ETF. A new deadline is set for May 23<\/a>.<\/p>\n\n\n\n

Despite this, analysts remain cautiously optimistic, estimating a 60% chance<\/a> of eventual approval. These delays and the ongoing review process indicate that the SEC is maintaining a cautious approach towards the approval of Ether ETFs. It reflects the complexities involved in integrating such products into the financial system.<\/p>\n","post_title":"Hong Kong Set to Approve Bitcoin And Ether ETFs By Monday","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"hong-kong-set-to-approve-bitcoin-and-ether-etfs-by-monday","to_ping":"","pinged":"","post_modified":"2024-04-15 03:53:05","post_modified_gmt":"2024-04-14 17:53:05","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16362","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":16347,"post_author":"15","post_date":"2024-04-14 00:03:48","post_date_gmt":"2024-04-13 14:03:48","post_content":"\n

Bitfinex Securities El Salvador is initiating a tokenized debt offering to fund the development of a Hampton by Hilton hotel complex spanning 4,484 square meters at El Salvador International Airport.<\/p>\n\n\n\n

In January, Bitfinex Securities<\/a> became the inaugural regulated entity to obtain a license to operate in El Salvador under the country\u2019s newly enacted Digital Asset Securities Law. This move anticipated a surge in demand for regulated investment vehicles, following the successful introduction of U.S. spot bitcoin exchange-traded funds.<\/p>\n\n\n\n

At the time, the tokenized securities platform announced its acceptance of customer applications and outlined a pipeline of potential financial asset issuances projected to launch in the year's first half.<\/p>\n\n\n\n

The tokenized debt, issued by El Salvadoran firm Inversiones Laguardia S.A. de C.V., is poised to be the inaugural token to trade on the platform. Utilizing the Liquid Network, a Bitcoin sidechain, the token will be denoted as HILSV and traded against U.S. dollars and Tether\u2019s USDT stablecoin.<\/p>\n\n\n\n

See Related: <\/em><\/strong>El Salvador Businesses Barely Impacted By Bitcoins Legality<\/a><\/p>\n\n\n\n

El Salvador Leads The Way<\/h2>\n\n\n\n


El Salvador stands at the forefront of cryptocurrency adoption wherein Bitcoin is recognized as legal tender. Since June 2021, it has been the first country to embrace Bitcoin alongside the US dollar for everyday transactions, making significant strides in the global crypto landscape. <\/p>\n\n\n\n

Under President Nayib Bukele, the government has initiated a groundbreaking project, where the state purchases one Bitcoin daily to bolster its reserves. <\/p>\n","post_title":"Bitfinex Securities Launches Tokenized Debt Offering For A Hotel In El Salvador","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"bitfinex-securities-launches-tokenized-debt-offering-for-a-hotel-in-el-salvador","to_ping":"","pinged":"","post_modified":"2024-04-14 00:03:52","post_modified_gmt":"2024-04-13 14:03:52","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16347","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

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\n

Venezuela\u2019s Ministry of Electric Power has announced <\/a>plans to disconnect cryptocurrency mining farms from the national grid. This decision is aimed at regulating excessive energy consumption and ensuring a stable power supply for the general population.<\/p>\n\n\n\n

According to a post <\/a>by Venezuela\u2019s National Association of Cryptocurrencies on X, cryptocurrency mining is now prohibited in Venezuela. This move comes after a recent crackdown where 2,000 cryptocurrency mining devices were confiscated in Maracay as part of an anti-corruption drive.<\/p>\n\n\n\n

The ministry stressed the importance of providing efficient and reliable electrical service throughout Venezuela by eliminating the burden caused by these high-energy-consuming farms. Officials stated that these measures are crucial to stabilizing the national power supply, which has been unstable for the past decade.<\/p>\n\n\n\n

The country has been experiencing frequent blackouts, particularly since 2019, severely affecting residents' daily lives and overall economic activities.<\/p>\n\n\n\n

See Related:<\/em><\/strong> South Korean Government To Invest $187M Into The Metaverse<\/a><\/p>\n\n\n\n

Other Countries' Approaches<\/h2>\n\n\n\n

Some countries, such as China and Kazakhstan, have responded to the high electricity demands of cryptocurrency mining by implementing strict regulations or outright bans on the practice.<\/p>\n\n\n\n

On the other, Oklahoma just recently legalized crypto mining in homes as long as it complies with the noise policy. This includes operating nodes for operations like staking.<\/p>\n","post_title":"Venezuela Cracks Down On Crypto Mining To Save Electricity","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"venezuela-cracks-down-on-crypto-mining-to-save-electricity","to_ping":"","pinged":"","post_modified":"2024-05-20 04:44:44","post_modified_gmt":"2024-05-19 18:44:44","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16985","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":16932,"post_author":"15","post_date":"2024-05-18 23:22:10","post_date_gmt":"2024-05-18 13:22:10","post_content":"\n

The world's second-largest asset manager announced <\/a>on Tuesday the appointment of Salim Ramji as its new CEO. Mr Ramji's new role will be effective on July 8. Unlike his predecessor Tim Buckley and the broader company, Ramji is a known supporter of Bitcoin.<\/p>\n\n\n\n

Bloomberg ETF analyst Eric Balchunas noted that this is the \"first time ever\" that Vanguard has hired externally for its top position. Balchunas, who was \"semi-shocked\" by the move, explained that previous CEOs were \"internal stars\" and former aides to the late founder John Bogle.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/EricBalchunas\/status\/1790498386203869352\n<\/div><\/figure>\n\n\n\n

Mr. Ramji is a seasoned financial services executive with over 25 years of experience in investments, capital markets, and wealth management. He spent a decade in senior leadership roles at BlackRock Inc., departing in January 2024. Most recently, he served as Global Head of iShares & Index Investing, overseeing the management of the majority of the firm's client assets and enhancing the iShares platform to offer a wider array of innovative, low-cost products for investors worldwide.<\/p>\n\n\n\n

See Related:<\/em><\/strong> SandStorm Launches On-Demand Metaverse Builds with 5 Virtual World Partners<\/a><\/p>\n\n\n\n

But Vanguard's Not A Bitcoin Lover<\/h2>\n\n\n\n

Vanguard has taken a different stance. In January, Bitcoin investors were surprised to find that Vanguard did not list Bitcoin spot ETFs from providers like BlackRock and Fidelity, citing inconsistencies with its \"investment philosophy.\"<\/p>\n\n\n\n

Balchunas pointed out that Vanguard inherited John Bogle's philosophy, favoring assets with intrinsic cash flow over commodities like BTC. In 2017, Bogle advised investors to \"avoid Bitcoin like the plague.\"<\/em><\/p>\n\n\n\n

\"Bitcoin is too volatile and not a store of value. It hasn't been, and it's very volatile,\"<\/em> Buckley said in a March interview. \"It's tough to see how it fits into a long-term portfolio.\"<\/em><\/p>\n\n\n\n

After over three decades at Vanguard, Buckley announced in February that he would retire by the end of the year, shortly after the Bitcoin ETFs went live. Many investors believed the timing was significant, suggesting Vanguard regretted missing out on the most successful ETF launch in history.<\/p>\n\n\n\n

\"I still think it's unlikely that this means Vanguard will launch a Bitcoin ETF (at least in the near term),\" <\/em>tweeted Bloomberg Intelligence's James Seyffart on Tuesday. \"But I think Salim could change Vanguard\u2019s stance on allowing their clients to buy spot Bitcoin ETFs on their brokerage platform.\"<\/em><\/p>\n","post_title":"Vanguard Hires Bitcoin Advocate Salim Ramji As New CEO","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"vanguard-hires-bitcoin-advocate-salim-ramji-as-new-ceo","to_ping":"","pinged":"","post_modified":"2024-05-18 23:22:16","post_modified_gmt":"2024-05-18 13:22:16","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16932","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":16843,"post_author":"15","post_date":"2024-05-13 00:31:20","post_date_gmt":"2024-05-12 14:31:20","post_content":"\n

Former U.S. President Donald Trump expressed his intention to enable the use of cryptocurrency for campaign donations. In videos <\/a>shared by NFT creator and influencer Frank Degods, Trump indicated to a group of NFT buyers his willingness to accept crypto donations for his campaign.<\/p>\n\n\n\n

He assured, \"If you can't, I'll make sure you can.\"<\/em> Additionally, he suggested that President Joe Biden lacks an understanding of cryptocurrency and urged crypto supporters to vote for him.<\/p>\n\n\n\n

Trump's remarks were made during a gathering he organized to meet with buyers of his \"Mugshot Edition\" NFTs. Attendees, who individually purchased over 47 NFTs priced at $99 each, were invited to a dinner on their day off from trial. Trump boasted about revitalizing interest in NFTs, stating, \"We made NFTs hot again.\"<\/p>\n\n\n\n

Regarding the crypto industry's presence in the U.S., Trump pledged to work towards retaining it, emphasizing the importance of embracing crypto businesses. His statements led to an 18.5% surge in the \"Jeo Boden\" memecoin, inspired by President Biden, according to CoinMarketCap data<\/a>. Trump expressed skepticism about the token's market capitalization, deeming it excessive.<\/p>\n\n\n\n

See Related: <\/em><\/strong>Trump Drops Series 2 Of Digital Trading Card NFTs On Polygon<\/a><\/p>\n\n\n\n

U.S. Presidency Candidates And Their Stance On Crypto<\/h2>\n\n\n\n

As the 2024 U.S. presidential election nears, candidates face scrutiny over their stance on cryptocurrency regulation. Republican nominee and former President Donald Trump has shown enthusiasm. <\/p>\n\n\n\n

On the other hand, the Democratic nominee emphasizes balanced regulation to safeguard consumers and curb illegal activities, reflecting broader party sentiments. However, within each party, there's a range of views, from advocating for stringent oversight to promoting innovation. With crypto's increasing impact across sectors, including finance and technology, the candidates' positions are poised to shape the industry's future and its interaction with the government.<\/p>\n","post_title":"Trump Pledges To Accept Cryptocurrency For Campaign Donations","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"trump-pledges-to-accept-cryptocurrency-for-campaign-donations","to_ping":"","pinged":"","post_modified":"2024-05-13 00:31:26","post_modified_gmt":"2024-05-12 14:31:26","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16843","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":16856,"post_author":"15","post_date":"2024-05-12 20:19:19","post_date_gmt":"2024-05-12 10:19:19","post_content":"\n

Wells Fargo, a prominent American bank, revealed its investments in several Bitcoin exchange-traded funds (ETFs) in a recent regulatory filing. This move aligns Wells Fargo with other institutions embracing crypto-based investment vehicles. <\/p>\n\n\n\n

According to the filing <\/a>with the U.S. Securities and Exchange Commission (SEC), the bank has purchased shares of Grayscale's GBTC spot Bitcoin ETF and has exposure to Bitcoin Depot Inc., a Bitcoin ATM provider. Additionally, the filing shows that Wells Fargo has invested in the ProShares Bitcoin Strategy ETF (BITO), which offers investors exposure to BTC futures\u2014contracts speculating on the future price of the asset.<\/p>\n\n\n\n

Despite these investments, Wells Fargo's exposure to Bitcoin ETFs remains relatively small. The filing indicates that its investment in GBTC amounts to $141,817, while its investment in ProShares is under $1,200. The exposure to Bitcoin Depot stands at just $99.<\/p>\n\n\n\n

This disclosure comes after a report in February suggested that Wells Fargo, along with Bank of America's Merrill division, was providing its wealth management clients with exposure to Bitcoin ETFs via brokerage accounts. Wells Fargo has shown repeated interest in digital assets and even piloted its digital currency back in 2019.<\/p>\n\n\n\n

See Related:<\/em><\/strong> Bitcoin ETFs Hit Mainstream: BofA\u2019s Merrill, Wells Fargo Now Offer Spot Trading<\/a><\/p>\n\n\n\n

Bitcoin spot ETF era<\/h2>\n\n\n\n

The SEC's approval of 11 spot BTC ETFs in January has led to significant success for these products. This success mirrors the soaring price of Bitcoin, which reached an all-time high of $73,747 in March. The Bitcoin spot ETF issuers now hold 847,427 BTC which is at $50 billion at the time of writing. <\/p>\n\n\n\n

Hong Kong recently approved and started trading Bitcoin and Ethereum spot ETF. <\/p>\n","post_title":"Wells Fargo Dips Toes Into Crypto With Bitcoin ETF Investments","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"wells-fargo-dips-toes-into-crypto-with-bitcoin-etf-investments","to_ping":"","pinged":"","post_modified":"2024-05-12 20:19:23","post_modified_gmt":"2024-05-12 10:19:23","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16856","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":16761,"post_author":"15","post_date":"2024-05-06 23:24:50","post_date_gmt":"2024-05-06 13:24:50","post_content":"\n

The Grayscale Bitcoin Trust ETF ($GBTC) recently experienced a shift in its financial trend. It registers an inflow of $63 million and breaks an 11-week rally of net losses according to the Farside Investors<\/a>.<\/p>\n\n\n\n

\"Bitcoin
Since the inception of Bitcoin spot ETF in the U.S., GBTC has recorded outflows every single trading day.<\/figcaption><\/figure>\n\n\n\n

Bloomberg ETF analyst Eric Balchunas expressed his surprise<\/a> on Twitter, stating, \"Holy crap $GBTC had inflows today,\" and noted that their nearly 80-day streak of outflows had ended. He humorously remarked on the significance of this change, asking his followers to rate how significant this turnaround was for GBTC.<\/p>\n\n\n\n

Despite these challenges, GBTC remains the largest Bitcoin spot ETF, managing over $18.7 billion in assets and holding approximately 297,000 Bitcoin. However, consistent withdrawals have allowed new entrants like the BlackRock iShares Bitcoin Trust (IBIT), which now has $17.2 billion in assets, to narrow the gap.<\/p>\n\n\n\n

This news comes shortly after a downturn for IBIT, which saw a reduction of $37 million just a day earlier, as per Farside Investors. This event was part of a broader trend that saw the ETF market experience its worst day ever, with a total outflow of $563 million amid a decline in Bitcoin prices.<\/p>\n\n\n\n

See Related:<\/em><\/strong> GBTC Price Prediction after Judges Raised Hope for Investors In Favour Of Grayscale<\/a><\/p>\n\n\n\n

Bitcoin ETF in Asia<\/h2>\n\n\n\n

Hong Kong has recently made strides in the cryptocurrency market with the introduction of spot exchange-traded funds (ETFs) for Bitcoin and Ethereum. This development reflects Hong Kong's growing embrace of digital currencies and its ambition to become a major hub for cryptocurrency trading and finance. <\/p>\n\n\n\n

The trading started last April 30 and shows $12 million in trading volume on its first day. Bitcoin spot ETF recorded a $8.5 million and Ethereum spot ETF $2.5 million in trading volume. <\/p>\n","post_title":"Grayscale Bitcoin Trust Rebounds With $63 Million Influx After 80-Day Drought","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"grayscale-bitcoin-trust-rebounds-with-63-million-influx-after-80-day-drought","to_ping":"","pinged":"","post_modified":"2024-05-06 23:24:54","post_modified_gmt":"2024-05-06 13:24:54","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16761","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":16722,"post_author":"15","post_date":"2024-05-04 02:07:14","post_date_gmt":"2024-05-03 16:07:14","post_content":"\n

Elliptic, a blockchain analysis firm, released a study <\/a>conducted with the MIT-IBM Watson AI Lab on Wednesday. This study utilized a deep learning AI model to identify money laundering patterns within Bitcoin transactions and pinpoint wallets involved in criminal activities.<\/p>\n\n\n\n

Bitcoin's use of a decentralized public ledger, a fundamental aspect of the technology, facilitated the research, according to Elliptic. The collaboration between Elliptic and MIT-IBM leveraged AI to distinguish between legal and illegal transactions, tracking connections within the latter to expose potential money laundering activities.<\/p>\n\n\n\n

Elliptic stated, \u201cBlockchains provide fertile ground for machine learning techniques, thanks to the availability of both transaction data and information on the types of entities that are transacting, collected by us and others. This is in contrast to traditional finance where transaction data is typically siloed, making it challenging to apply these techniques.\u201d<\/em><\/p>\n\n\n\n

Elliptic clarified that instead of directly identifying transactions by illicit actors, the machine learning model is trained to recognize 'subgraphs'\u2014sequences of transactions that depict the laundering of Bitcoin. This method focuses more broadly on the multi-step laundering process rather than specific illegal actions on the blockchain.<\/p>\n\n\n\n

See Related:<\/em><\/strong> Binance's $3.9 Billion USDT Transfer Sparks Speculation Amidst CEO's Guilty Plea<\/a><\/p>\n\n\n\n

Money Laundering in 2024 Reports<\/h2>\n\n\n\n

In 2023, the volume of cryptocurrency involved in money laundering activities decreased significantly, with centralized exchanges continuing as the primary channels for such transactions. DeFi protocols and gambling services saw an uptick in use for laundering, yet they generally lack the anonymity preferred by launderers.<\/p>\n\n\n\n

Sophisticated criminals, particularly North Korea's Lazarus Group, adapted to law enforcement tactics by employing new mixers and utilizing cross-chain bridges to launder funds. These methods allow them to obfuscate the origins of illicit funds more effectively across multiple blockchain platforms, demonstrating a dynamic shift in the techniques used by high-level criminal enterprises to evade detection.<\/p>\n","post_title":"AI Powers New Tool To Detect Illegal Bitcoin Transactions, Study Shows","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"ai-powers-new-tool-to-detect-illegal-bitcoin-transactions-study-shows","to_ping":"","pinged":"","post_modified":"2024-05-04 02:07:20","post_modified_gmt":"2024-05-03 16:07:20","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16722","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":16491,"post_author":"15","post_date":"2024-04-21 10:09:53","post_date_gmt":"2024-04-21 00:09:53","post_content":"\n

Entrepreneur and Dallas Mavericks owner Mark Cuban recently discussed the implications of the upcoming Bitcoin halving. He emphasized its significant impact on miner revenues.<\/p>\n\n\n\n

During an interview <\/a>with The Block, Cuban pointed out that the halving will reduce mining rewards from 6.25 BTC to 3.125 BTC, effectively slashing the income for bitcoin miners by nearly half. However, Cuban expressed greater curiosity about the role artificial intelligence (AI) might play in the mining sector, especially concerning the demand for GPUs.<\/p>\n\n\n\n

Cuban highlighted the intense competition between AI's needs for GPUs and cryptocurrency mining's demands. He questioned whether the economic landscape of mining could be altered by the booming AI industry, asking if it might be more profitable to utilize GPUs for AI model training rather than mining. This issue primarily affects miners using GPUs for cryptocurrencies other than Bitcoin, which typically relies on ASIC machines.<\/p>\n\n\n\n

The intersection of AI and cryptocurrency mining is already seeing practical applications, with companies like Xive and Hive Digital Technologies expanding into AI to bolster their primary mining operations. <\/p>\n\n\n\n

See Related:<\/em><\/strong> Cryptocurrency Statistics And Insights (2022)<\/a><\/p>\n\n\n\n

Bitcoin Halving is Coming<\/h2>\n\n\n\n

Bitcoin halving is a significant event in the cryptocurrency world that occurs approximately every four years, or after 210,000 blocks are mined. During a halving, bitcoin miners' reward for verifying transactions and adding them to the blockchain is reduced by half. This mechanism was designed by Satoshi Nakamoto, the anonymous creator of Bitcoin, to control inflation by limiting the total number of bitcoins that can ever be in circulation to 21 million.<\/p>\n\n\n\n

As of writing, the price of Bitcoin is at $63,760, and 2 blocks remaining until the next Bitcoin halving.<\/p>\n","post_title":"Bitcoin Halving To Slash Miner Earnings, Cuban Eyes AI Shift","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"bitcoin-halving-to-slash-miner-earnings-cuban-eyes-ai-shift","to_ping":"","pinged":"","post_modified":"2024-04-21 10:10:00","post_modified_gmt":"2024-04-21 00:10:00","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16491","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":16460,"post_author":"15","post_date":"2024-04-19 23:38:06","post_date_gmt":"2024-04-19 13:38:06","post_content":"\n

Binance, the leading global cryptocurrency exchange, is set to make a comeback in India after agreeing to pay a $2 million penalty. This development follows a period of stringent regulatory scrutiny where the Indian government blocked nine cryptocurrency websites. They also prompted the removal of related apps from Apple and Google stores due to non-compliance with local laws. <\/p>\n\n\n\n

According to the Economic Times<\/a>, sources close to the matter indicate that Binance is restructuring its operations in South Asia. The cryptocurrency exchange is planning to fully comply with the Financial Intelligence Unit of India, which regulates the local trading of digital assets.<\/p>\n\n\n\n

The move comes as part of Binance's efforts to align with India's financial regulations, including adherence to anti-money laundering and taxation statutes. Before the crackdown, Binance held a commanding presence in the Indian market, with an estimated 90% of crypto holdings among Indian investors, totaling about $4 billion.<\/p>\n\n\n\n

See Related:<\/em><\/strong> Indian Parliament Passes A 30% Crypto Tax Law<\/a><\/p>\n\n\n\n

Nigeria Detains Binance Executives<\/h2>\n\n\n\n

Two months ago, Nigeria detained two executives of the Binance after they flew into the country. The country's Office of the National Security Adviser detained the two, and their passports were seized. <\/p>\n\n\n\n

Nigerian officials have leveled several charges against the cryptocurrency exchange Binance. The allegation includes exploiting the local economy, contributing to the devaluation of the Nigerian naira, and engaging in money laundering activities. They allege that Binance has been involved in manipulating the exchange rates by engaging in speculative actions and fixing rates. Furthermore, the Nigerian government has expressed concerns over $26 billion in transactions carried out on Binance's platform, which they report as being untraceable.<\/p>\n\n\n\n

Binance has denied any wrongdoing, but this is not the first time it has bumped heads with regulators.<\/p>\n","post_title":"Binance Set To Re-enter Indian Market with $2 Million Fine Settlement","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"binance-set-to-re-enter-indian-market-with-2-million-fine-settlement","to_ping":"","pinged":"","post_modified":"2024-04-20 04:11:08","post_modified_gmt":"2024-04-19 18:11:08","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16460","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":16362,"post_author":"15","post_date":"2024-04-15 03:52:59","post_date_gmt":"2024-04-14 17:52:59","post_content":"\n

Hong Kong is on the brink of approving spot exchange-traded funds (ETFs) for bitcoin and ether, potentially by Monday, Bloomberg reports<\/a>. This anticipated approval is poised to influence the cryptocurrency markets in the near term. The ETFs, if launched, will enable investors to trade bitcoin and ether on regulated platforms, enhancing the legitimacy and stability of investing in cryptocurrencies.<\/p>\n\n\n\n

Bloomberg\u2019s sources suggest that if the Hong Kong Exchanges & Clearing can finalize the listing details promptly, trading could commence by the end of April. Harvest Global Investments and Bosera Asset Management, in collaboration with HashKey Capital, are frontrunners in receiving the first approvals for these spot cryptocurrency ETFs. This move could cement Hong Kong's position as a major hub for digital assets in Asia, particularly if it leads to a successful market response similar to the U.S., where the approval of bitcoin ETFs in January triggered a price rally, pushing bitcoin\u2019s value to $73,000.<\/p>\n\n\n\n

However, unlike in the U.S., where ether ETFs have not yet been approved, Hong Kong might take the lead in this area as well. The city's market regulator, the Securities and Futures Commission (SFC), has not commented on the developments. Similarly, inquiries to Harvest Global Investments, Bosera Asset Management, HashKey Capital, and HKEX received no immediate response.<\/p>\n\n\n\n

See Related: <\/em><\/strong>Hong Kong Invests Over $6.4M Into Web 3 Development<\/a><\/p>\n\n\n\n

Ether ETF Update<\/h2>\n\n\n\n

The U.S. Securities and Exchange Commission (SEC) has once again delayed its decision on the application for an Ether ETF. A new deadline is set for May 23<\/a>.<\/p>\n\n\n\n

Despite this, analysts remain cautiously optimistic, estimating a 60% chance<\/a> of eventual approval. These delays and the ongoing review process indicate that the SEC is maintaining a cautious approach towards the approval of Ether ETFs. It reflects the complexities involved in integrating such products into the financial system.<\/p>\n","post_title":"Hong Kong Set to Approve Bitcoin And Ether ETFs By Monday","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"hong-kong-set-to-approve-bitcoin-and-ether-etfs-by-monday","to_ping":"","pinged":"","post_modified":"2024-04-15 03:53:05","post_modified_gmt":"2024-04-14 17:53:05","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16362","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":16347,"post_author":"15","post_date":"2024-04-14 00:03:48","post_date_gmt":"2024-04-13 14:03:48","post_content":"\n

Bitfinex Securities El Salvador is initiating a tokenized debt offering to fund the development of a Hampton by Hilton hotel complex spanning 4,484 square meters at El Salvador International Airport.<\/p>\n\n\n\n

In January, Bitfinex Securities<\/a> became the inaugural regulated entity to obtain a license to operate in El Salvador under the country\u2019s newly enacted Digital Asset Securities Law. This move anticipated a surge in demand for regulated investment vehicles, following the successful introduction of U.S. spot bitcoin exchange-traded funds.<\/p>\n\n\n\n

At the time, the tokenized securities platform announced its acceptance of customer applications and outlined a pipeline of potential financial asset issuances projected to launch in the year's first half.<\/p>\n\n\n\n

The tokenized debt, issued by El Salvadoran firm Inversiones Laguardia S.A. de C.V., is poised to be the inaugural token to trade on the platform. Utilizing the Liquid Network, a Bitcoin sidechain, the token will be denoted as HILSV and traded against U.S. dollars and Tether\u2019s USDT stablecoin.<\/p>\n\n\n\n

See Related: <\/em><\/strong>El Salvador Businesses Barely Impacted By Bitcoins Legality<\/a><\/p>\n\n\n\n

El Salvador Leads The Way<\/h2>\n\n\n\n


El Salvador stands at the forefront of cryptocurrency adoption wherein Bitcoin is recognized as legal tender. Since June 2021, it has been the first country to embrace Bitcoin alongside the US dollar for everyday transactions, making significant strides in the global crypto landscape. <\/p>\n\n\n\n

Under President Nayib Bukele, the government has initiated a groundbreaking project, where the state purchases one Bitcoin daily to bolster its reserves. <\/p>\n","post_title":"Bitfinex Securities Launches Tokenized Debt Offering For A Hotel In El Salvador","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"bitfinex-securities-launches-tokenized-debt-offering-for-a-hotel-in-el-salvador","to_ping":"","pinged":"","post_modified":"2024-04-14 00:03:52","post_modified_gmt":"2024-04-13 14:03:52","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16347","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

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Jeane Claude Vasquez

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