Author: Coindesk
Bitcoin ETFs recorded a second straight day of outflows on Tuesday, with $200 million exiting the 11 spot products in the U.S., the highest since May 1. Grayscale’s GBTC, as it often is, was the worst affected, with outflows of $120 million. ARK 21Shares’ ARKB, Bitwise’s BITB and VanEck’s HODL’s outflows ranged from $57 million to $7 million. “Markets are [in] risk-off mode ahead of CPI and FOMC tomorrow. This month’s FOMC will also release the Dot Plot, which informs the market how many cuts the Fed anticipates for the rest of 2024,” Singapore-based QCP Capital said in a Tuesday…
“In line with global trends and best practices, Zimbabwe is embarking on an exercise to assess and understand the cryptocurrency landscape,” the government said in a statement published in the state-run Herald newspaper Wednesday. It’s “inviting all cryptocurrency service providers,” whether operating inside or outside the country but providing services to people in Zimbabwe, to provide comments. Read the full article here
Staking on Ethereum conventionally requires users to tie up 32 ETH with the network, which at current market prices totals some $112,000. “Pooled” services like Lido, Rocket Pool and now MetaMask give more users access to staking by bundling together assets from various people, making it possible for anyone to stake even if they don’t have 32 ETH. Read the full article here
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“Bitcoin mining may be our last line of defense against a CBDC. Biden’s hatred of Bitcoin only helps China, Russia, and the Radical Communist Left. We want all the remaining Bitcoin to be MADE IN THE USA!!! It will help us be ENERGY DOMINANT,” Trump said in a late-night post on the social media platform Truth Social. Read the full article here
I think it goes back to a couple of core principles that Treasury has reflected for a long time in its rulemaking. One is, you know, focus on the activity, not necessarily the product, and then based on the activity, making sure that we are building regulatory obligations to meet the risk associated with that type of activity. And certainly, that reflects the really the core of what we do and how we think about our regulations, which is that they need to be risk based and drive risk based behavior. So when you think about, again, these 80s and…
Maybe it’s time that we start to examine which investors are looking to do 100x-1000x on their investments over a decade, and which ones are looking to do smaller returns over a shorter period of time. The former is the one that will lead to consumer adoption, because we need to educate people why blockchain is better for consumers, build the products, launch them, get regulators on board, and actually be in a place where the blockchains can handle the traffic, all of which take time. The latter will only continue to further enrich already wealthy VCs, which is the…
On the other hand, these traders are betting on what will happen, not what they want to happen. So they are highly incentivized to research and make informed decisions, regardless of their political preferences. In theory, at least, these markets should be a more reliable gauge of sentiment than polling, and perhaps a superior forecasting method as well. Read the full article here
While the momentum in open-source generative AI is strong, a more detailed analysis shows a different reality. Open-source generative AI is facing a massive funding issue. When it comes to large foundation models, only large companies such as Databricks, Snowflake, Meta or well-funded startups like Mistral are keeping up with the performance of large closed models. Most of the releases from other labs, like Databricks and Snowflake, are focused on optimized enterprise workloads, while most of the recent open-source research is focusing on complementary techniques rather than on new models. Read the full article here
Altcoins saw even deeper pullbacks during the same period, with the broad-market crypto market benchmark CoinDesk 20 Index declining over 6% with all twenty constituents being in the red. Ethereum’s ether (ETH) broke below $3,500 and was down 6.5%, while solana (SOL), dogecoin (DOGE), Cardano’s ADA and Chainlink’s LINK endured 6%-9% losses. Read the full article here