Robinhood is making headlines as CEO Vlad Tenev addresses the company’s preparedness for the recent surge in GameStop Corp GME shares and its strategic acquisition of Bitstamp. This follows Keith Gill, known as Roaring Kitty, announcing a livestream, causing GameStop shares to soar by 47%. Is crypto the only answer to market instability? #siamstr
Robinhood Markets has announced the purchase of Bitstamp Ltd., a cryptocurrency exchange, for US$200 million. The all-cash deal, slated for completion in the first half of 2025 pending regulatory consent, is set to extend Robinhood’s reach into the institutional crypto market and enhance its international footprint. #siamstr
United States Securities and Exchange Commission (SEC) Chair Gary Gensler found himself criticizing the crypto industry on live television yet again on Wednesday—but this time, the regulator appeared to use markedly softer language as he was asked about potential crypto ETFs ahead. Bitcoin shot up 1.5% to $71,600, its highest price since March. #siamstr
#siamstr In a positive development for Australia, Monochrome Asset Management has launched a spot Bitcoin Exchange-Traded Fund (ETF) on the Cboe Australia exchange. Notably, the Monochrome spot Bitcoin ETF (IBTC) represents Australia’s first and only ETF holding Bitcoin (BTC) directly. Meanwhile, FDIC said the US banking system is at high risk of insolvency as 63 banks have $517 billion in unrealized losses in Q1 2024.
In a positive development for Australia, Monochrome Asset Management has launched a spot Bitcoin Exchange-Traded Fund (ETF) on the Cboe Australia exchange. Notably, the Monochrome spot Bitcoin ETF (IBTC) represents Australia’s first and only ETF holding Bitcoin (BTC) directly. Meanwhile, FDIC said the US banking system is at high risk of insolvency as 63 banks have $517 billion in unrealized losses in Q1 2024.
In a dramatic twist, Cathie Wood’s Ark Invest has unexpectedly pulled out of the Ethereum ETF race. It is ending its partnership with 21Shares and casting doubts on the prospects of approval just as issuers fine-tune their strategies for the final leg of the race. Meanwhile, President Biden late-friday finally officially veto SAB-121 which allowed banks to custody crypto. #siamstr
The deadline approaches for a major Biden decision on Monday. The repeal of SAB-121 which basically banned banks from letting customers store their crypto in their own bank accounts. Could Elizabeth Warren lose her election race against John Deaton? #siamstr
A recent report reveals Biden seeks to understand the “crypto community and policy moving forward.” This move reflects a significant shift from his previous stance. Meanwhile, Cathie Wood hints Solana ETF would be most likely next. #siamstr
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A U.S. federal judge has ordered the Securities and Exchange Commission (SEC) to pay about $1.8 million in legal fees to Debt Box. This ruling has major implications for the SEC. The agency, responsible for enforcing securities laws and market integrity, faces a serious setback. Meanwhile, BlackRock's Bitcoin ETF now holds more BTC than its rival, the longstanding Grayscale Bitcoin Trust. #siamstr
