Author: Coindesk
The term “security” is defined to include, among other things, any stock, note, bond or investment contract. Federal courts have consistently held that crypto assets, in and of themselves, are not securities, but may be sold as the object of an investment contract security. Of course, instruments such as common stock and warrants are securities whether issued in tokenized form or not. But the most widely traded crypto assets more closely resemble currencies, trading cards and other commodities that ordinarily fall outside of the security definition. Read the full article here
Grayscale’s mini BTC fund launched much later than its counterparts, after the asset manager’s flagship bitcoin trust (GBTC), bled large amounts of assets largely due to its relatively high fee of 1.5%. Despite its late start, the newer product has quickly become one of the more successful bitcoin funds, currently standing in sixth place by assets under management with roughly $2.3 billion worth of bitcoin, according to Bloomberg data. Read the full article here
If, for example, an oracle service settles disputes by a vote of token holders and a group of them collude, “they can just choose to resolve markets however they want and pay themselves out with everyone’s money,” Such said. “It’s really, really difficult and a long process to achieve sufficient decentralization in that regard.” Read the full article here
“We are pleased to be in a position to propose a chapter 11 plan that contemplates the return of 100% of bankruptcy claim amounts plus interest for non-governmental creditors,” the bankrupt FTX’s liquidation CEO John Ray said in a statement when the final plan, which was based on a recovery of as much as $16.3 billion in assets, was announced in May. “I want to thank all the customers and creditors of FTX for their patience throughout this process.” Read the full article here
The project is among those aiming to decentralize blockchain “sequencers” – the component of a layer-2 network that compiles transactions happening on the secondary network, in order to record them on a main layer-1 blockchain, like Ethereum. Metis, a layer-2 network for Ethereum, has developed its own decentralized sequencer, for example. Read the full article here
“This conviction is reinforced by the diminishing effects of MicroStrategy’s recent stock split,” analyst Mads Eberhardt wrote, adding that the launch of options on spot bitcoin exchange-traded funds (ETFs) in the U.S will also lessen the motivation for investors to hold the stock over these ETFs. Read the full article here
Political leaders in Austria, like other European Union nations, did not tap into the global crypto policy debate to sway voters during its recent election. In the run up to its election over the weekend Georgia, which has candidate status in the EU, was likewise quiet on the issue. Read the full article here
“By offering transparent and reliable real-time benchmarks, we seek to enable investors to make informed investment decisions, which will in turn support the development of the virtual asset ecosystem and reinforce Hong Kong’s role as an international financial center,” said HKEX CEO, Bonnie Y Chan. Read the full article here
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From the increasing probability of pro-crypto Republican candidate Donald Trump winning the upcoming U.S. presidential election to expectations for Fed rate cuts, bitcoin (BTC) bulls have several things to cheer about. However, the widely-tracked copper-to-gold ratio, continues to slide, flashing a red signal for risk assets, including cryptocurrencies. Read the full article here