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It's Friiddayyy Folks! Yesterday, legal cases took the lion's share of news coverage; Ripple vs SEC and Bitcoin Fog. Today, there is literally nothing going on in the world of Crypto; it's practically a "Snoozefest." The price of Bitcoin is currently trading at $29,362.44 and it's now under $29.5K what happens next is anyone's guess but the ETF news today will create some crazy volatility. Let's dive into the news...
BTC futures open interest is on the rise, but Bitcoin trading volume suggests that traders have shifted their attention to other markets.
Boyaa Interactive approved a budget of $5 million to purchase cryptocurrencies — primarily bitcoin and ether. Notably, the deadline for the SEC to decide on ARKInvest’s spot Bitcoin ETF is on Sunday, August 13, Bloomberg analyst James Seyffart revealed on August 10. The Securities and Exchange Commission on Friday asked for new written comments on a proposed spot bitcoin application from ARK Invest and 21Shares in an apparent delay. The SEC’s initial deadlines to weigh in on proposed bitcoin ETFs by Bitwise, BlackRock, Fidelity and others are set for early next month.
Crypto analytics platform Santiment says that Litecoin (LTC) is flashing bullish after its August 2nd halving event.
Industry experts say an upcoming ruling in a lawsuit between Grayscale and the SEC over its rejection of a spot bitcoin ETF, along with surveillance sharing agreements, could be just enough to get a product over the finish line.Lawyer Oscar Franklin Tan believes that "XRP is not a security. Period" and if the appeal is allowed, whoever wins will build momentum in the main case.
Bittrex settled with the Securities and Exchange Commission for $24 million after the agency charged it in April for operating as an unregistered exchange. Kraken has emerged as the leading U.S. crypto exchange for altcoin trading, with around 50% of market depth for top 10 altcoins, per data from Kaiko.
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Podcast of the Day: #255: Paolo Ardoino, CTO of Tether, on $USDT Fud and Tether’s Diversification into Energy | Cryptonews
Sources:
BTC Futures (Cointelegraph)
Bitcoin Adoption (TB)
Bitcoin ETF Decision (Finbold | TB | Coindesk | Cointelegraph | Blockworks | UToday | Blockworks)
Grayscale vs SEC (TB)
XRP vs SEC (Cointelegraph)
Litecoin (TDH)
Bittrex (TB | NewsBTC |
Kraken (TB)
