[ad_1] The U.S. dollar stablecoin will be available on both the XRP Ledger and Ethereum upon its launch. Ripple announced a stablecoin in a press release on April 4. The company said that the cryptocurrency will be pegged 1:1 to the US dollar (USD), meaning that it will always be worth close to $1.00. Ripple’s stablecoin will be collateralized by reserve assets. The company said that the stablecoin will be 100% backed by US dollar deposits, short-term US government treasuries, and other cash equivalents. A third-party accounting firm will audit reserve assets, and Ripple will provide monthly attestations. The stablecoin…
Author: Mike Dalton
[ad_1] Some experts believe Sam Bankman-Fried could spend between 12.5 and 18.5 years in prison for his crimes at FTX. Sam Bankman-Fried has been sentenced to 25 years in prison for fraud involving his crypto exchange, FTX, and its sister company, Alameda Research. Some reports suggest that the former FTX leader won’t serve his full sentence. One estimate from Christopher Zoukis, a federal prison consultant, suggests that Bankman-Fried could serve just 18.5 years of his prison sentence. Zoukis told Fast Company that Bankman-Fried’s time in prison prior to sentencing will take 7.5 months off his sentence. Plus, an automatic reduction…
[ad_1] Bitcoin’s price surpassed $69,200 on Tuesday and $70,000 on Friday. Both times, it exceeded its November 2021 record. Bitcoin (BTC) achieved two new all-time highs during the first full week of March 2024 amidst significant ongoing price growth. On March 5, Bitcoin reached a new all-time high of $69,200. However, the cryptocurrency’s value suddenly dropped below $60,900 in a matter of hours. Before the end of the day, the price had largely recovered by surpassing $66,000. Bitcoin achieved a new all-time high for the second time just days later, though its exact value is debated. According to CoinMarketCap, BTC…
[ad_1] Want to invest in a spot Bitcoin ETF? Consider these five funds and the brokerages that provide access to them. The U.S. Securities and Exchange Commission approved several spot Bitcoin exchange-traded funds (ETFs) in January 2024. Each ETF provides access to shares of a fund containing Bitcoin (BTC), allowing investors to gain exposure to the price activity of Bitcoin without holding the asset in a crypto wallet. Currently, there are ten spot Bitcoin ETFs available to investors, as well as various other non-spot ETFs. We’ll compare the five largest spot Bitcoin ETFs below. $25 billion AUM | 1.50% Expense…
[ad_1] In addition to Bitcoin (BTC), Reddit holds Ethereum (ETH) and Polygon (MATIC) as a result of investments and sales revenue. Social media company Reddit revealed that it has invested in and otherwise holds various cryptocurrencies on Feb. 22. Reddit included that information in a filing with the U.S. Securities and Exchange Commission (SEC). The filing primarily indicates that it intends to run an IPO and list shares on the New York Stock Exchange (NYSE) as “RDDT.” In one section of the filing, Reddit stated that it has invested a portion of its excess cash reserves in two cryptocurrencies: Bitcoin…
[ad_1] Ethereum (ETH) will undergo an upgrade called “Dencun” in March 2024, making various improvements to its transaction cost, efficiency, and scalability. The upgrade is set to take place on March 13 at 13:55 UTC at slot 8626176. That time and date was determined during a developer call on Feb. 8. Dencun will add several new features to Ethereum, the most notable of which is proto-danksharding (EIP-4844). Ethereum currently supports layer 2 networks and rollups so that data can be handled off-chain, which reduces the cost of transactions. Proto-danksharding, however, will allow layer 2 rollups to send data at even…
[ad_1] Celsius has begun to pay former customers. The firm will also establish a crypto mining firm as it winds down operations. Celsius, a cryptocurrency lending platform, said on Jan. 31 that it has exited bankruptcy and has begun to repay creditors affected by its failure. The company said that it has “successfully emerged from bankruptcy” by carrying out the transactions outlined in its confirmed reorganization plan. Chris Ferraro — Celsius’ Chief Restructuring Officer, Interim Chief Executive Officer, and Chief Financial Officer — said: “Creating the best outcome for creditors by maximizing value and speed have been front of…
[ad_1] Regulators approved spot Bitcoin ETFs in January. Spot Ethereum ETFs could be next in line. January 2024 saw the launch of spot Bitcoin ETFs, a type of investment vehicle that allows investors to purchase shares of a fund holding Bitcoin. Those spot Bitcoin ETFs have seen rapid success, with top funds achieving $4 billion in assets under management (AUM). That success could set the stage for similar Ethereum spot ETFs in the coming months. Here’s what you should know. Spot Ethereum ETFs involve an asset manager or trust issuing shares of a fund consisting primarily of Ethereum (ETH), which…
[ad_1] Spot Bitcoin ETFs gained approval in the U.S. on Jan. 10, providing American investors with a new way to invest in Bitcoin. The U.S. Securities and Exchange Commission (SEC) has approved eleven spot Bitcoin exchange-traded funds. Here’s what you need to know. Spot Bitcoin ETFs are exchange-traded funds in which issuers and related parties hold Bitcoin in a fund and divide it into shares for investors to purchase. Bitcoin ETFs are ideal for those who primarily intend to earn profits on their investment; they provide similar assurances as other traditional financial products. However, this approach is different from standard…
[ad_1] Several major crypto exchanges are now asking U.K. users to demonstrate knowledge through questionnaires, according to CNBC on Jan. 5. CNBC said that Coinbase, Crypto.com, and Gemini are among the exchanges requiring this information. Other crypto exchanges, including OKX and Kraken, have also stated that they will require similar information. Exchange users specifically must identify themselves as a high-net worth investor with a certain level of wealth or income, or as a “restricted investor” that won’t trade more than 10% of their assets. Users who decline to choose one of these categories will not be able to use or…