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JUST IN: The Spot Bitcoin ETF DID NOT get approved. It appears everyone wants to be the first to report and no one is verifying if it's true. Yes it will happen one day but it's not today. As a result the market is going bananas! BlackRock says application for spot bitcoin ETF is still under review by SEC.(5)
Be Smart. Be Safe. Stack Sats. HODL!
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Happy Monday Folks! Bitcoin is trading up at $27,688.74. More to come as the day unfolds but for now, let's get on with the news...
SUMMARY
Over the weekend Ferarri beings to accept Crypto for purchases and Coinbase's fight with the SEC intensified. Today, Bitcoin unleashes thrilling short squeeze with epic 3.8% spike with bullish call of ‘$15T asset’ and so the countdown starts now? BTC crosses key bullish indicator for second time in history. Bitcoin Hashrate poised to complete 100% growth in 2023. Crypto funds recorded net inflows for third consecutive week led by Bitcoin.(2)
EL SALVADOR VICE PRESIDENT: BITCOIN IS DRIVING THE 'REBIRTH OF OUR COUNTRY'
Bitcoin’s value proposition as a hedge against economic uncertainty could be demonstrated as global unrest escalates, say BTCM Chief Economist Youwei Yang. New data from market intelligence platform Santiment reveals that Bitcoin is seeing a historic spike in the number of shark and whale wallets. Communication between fund managers and the Securities and Exchange Commission regarding spot bitcoin ETFs is becoming more constructive, according to Bloomberg analysts James Seyffart and Eric Balchunas.(2) Bloomberg crypto market analyst Jamie Coutts says that Bitcoin (BTC) will be one of the main beneficiaries of an inevitable return to currency debasement by the US government. GBTC discount to NAV hits lowest level since 2021 as SEC elects not to appeal Grayscale ruling.(2) SEC Chair Gary Gensler standing in the way of Bitcoin ETFs, says ARK Invest’s Cathie Wood.(3) BlackRock's Larry Fink says bitcoin rumor rally shows 'pent up interest in crypto.'
The Lightning Network Grew by 1212% in 2 Years
Tether freezes 32 Crypto addresses linked to terrorism, warfare in Israel and Ukraine.(3)
Binance to stop accepting new U.K. users to comply with ad rules.(2)
California Governor Gavin Newsom has initiated a regulatory framework for the emerging crypto industry, called the Digital Financial Asset Law.(2) The new law grants the Department of Financial Protection and Innovation (DFPI) rulemaking authority and an 18-month implementation window.(2) SEC plans scrutiny of crypto dealer-brokers, transfer agents, per 2024 exam guide. Judge orders Genesis to respond in five days to subpoena in Terraform case.
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