Discover more from Daily Digest
Grayscale ETF Wins: SEC Holds Back Appeal
Network State Conference Gathers Web Titans, Ferrari Races into Crypto Payments, and Solana's $400K Challenge Awaits White Hats.
Happy Monday Everyone, and welcome to Coinfeeds Daily Digest!
Before we take off on our journey with today's Coinfeeds Daily Digest, don't forget to catch the live updates over at our Trending News page. It's the place to be for real-time crypto buzz!
Now, let's buckle up and delve into the universe of crypto stories:
Grayscale's Bitcoin ETF is soaring, and the SEC is, well... thinking about things. 🤔 SEC has decided not to appeal a court ruling in favor of Grayscale Investments regarding the conversion of its Bitcoin Trust into a spot Bitcoin exchange-traded fund (ETF). This has led to a surge in Bitcoin's price and increased optimism about the approval of its ETF. Grayscale's victory could potentially unlock billions in value for its holders and bring mainstream investors into the Bitcoin market. However, the SEC could still reject the bid or request an appeal.
Got internet values? Join the Network State Conference!
Being held in Amsterdam, it aims to bring together individuals who are building parallel establishments based on internet values. The conference will feature speakers such as Glenn Greenwald, Vitalik Buterin, and the Winklevoss twins, as well as founders and funders of startup societies. The conference will focus on building parallel societies and parallel institutions, both physical and digital, to compete with failing Western institutions.
Ferrari has announced that it will start accepting cryptocurrency as payment for its luxury sports cars in the US, with plans to extend the scheme to Europe. The decision comes in response to requests from wealthy customers who have invested in crypto. Ferrari will use BitPay, one of the largest cryptocurrency payment processors, to handle the transactions and convert the virtual currencies into traditional currency on behalf of its dealers.
Solana's throwing out a $400K challenge: can you break them? 👨💻
Solana is offering a reward of $400,000 in SOL to anyone who can successfully halt or "switch off" its high throughput network. The bug bounty program encourages white hat hackers and coders to conduct penetration tests and identify vulnerabilities. Solana has faced reliability issues in the past, with the blockchain being halted multiple times due to node updates. The upcoming release of the Firedancer client aims to enhance network performance and decentralization.
Coinbase to SEC: "Can we get some clarity here? Please?" 🧐
Coinbase is pressuring the SEC to respond to its rulemaking petition within 30 days. Coinbase wants the SEC to clarify how securities laws apply to digital assets. The company argues that the SEC's previous update on the matter was insufficient and that the agency needs to take its obligations seriously. Coinbase filed a response with the Third Circuit, stating that the SEC launched an enforcement action against it without explaining how the laws apply to crypto assets.
MetaMask temporarily got the Apple boot
MetaMask, a popular crypto wallet, was removed temporarily from the Apple App Store. “We anticipate that MetaMask will be back on the App Store shortly,” a spokesperson said minutes before the app turned back on, adding that any fake MetaMask apps on the App Store should be reported immediately.
Ethereum's playing hard to get with Bitcoin. It's complicated. 💔
The price of Ether has reached a 15-month low compared to Bitcoin. This is the lowest point since Ethereum switched to proof-of-stake (PoS). The ETH/BTC pair broke below its 200-week exponential moving average (EMA), which has historically served as a support level for ETH/BTC bulls. If the downward trend continues, the next target for ETH/BTC is around 0.051 BTC. However, if ETH can reclaim the 200-week EMA as support, it may rebound towards its 50-week EMA near 0.065 BTC.
Binance did a little spring cleaning, burning $450M worth of BNB. 🔥
Binance has burned over $450 million worth of BNB tokens as part of a planned token burn. This process involves permanently removing tokens from circulation, making the remaining tokens more valuable for holders. The auto-burn system adjusts the amount of BNB to be burned based on its price and the number of blocks generated on the BNB Smart Chain.
Australia's making moves in the crypto regulation dance. 💃
The Australian Treasury has proposed a new regulatory framework to regulate cryptocurrency exchanges and service providers, rather than individual cryptocurrencies or tokens. The framework aims to address consumer harms while still supporting innovation in the digital asset sector. The proposal has received mixed reactions from crypto exchanges in Australia, with some calling it thoughtful and others expressing disappointment.
Sega's taking baby steps into the NFT world. Game on! 🎮
Sega Co-COO Shuji Utsumi expressed optimism about blockchain gaming and the potential of NFTs in video games. He believes that owning assets and earning money through blockchain games could create new player desires. Utsumi's comments came in the context of Sega licensing its Sangokushi Taisen card game's IP to blockchain firm Double Jump.Tokyo for the development of a new trading card game (TCG) called Battle of Three Kingdoms.
As always, stay tuned for more updates in crypto!