Tag: Crypto

Wall Street Could Get an ETF for Crypto Treasury Firms

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Wall Street could soon be getting a new exchange-traded fund that bundles up crypto treasury companies, alongside four other funds from crypto trading and market-making firm GSR. The company is looking to launch the GSR Digital Asset Treasury Companies ETF, according to a regulatory filing on Wednesday, which would invest in public companies such as the Bitcoin (BTC) buying Strategy or the Ether (ETH) holding BitMine Immersion Technologies. The filing, GSR’s first-ever foray into ETFs, also lists four other funds involving ETH and crypto staking, with one that looks to…

Australia Drafts Law to License All Crypto Exchanges

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Australia is aiming to tighten regulations around crypto service providers, with draft legislation that would extend finance sector laws to crypto exchanges. Assistant Treasurer Daniel Mulino told a crypto conference on Thursday that the legislation is “the cornerstone of our digital asset roadmap,” which the Albanese Government released in March. “This is a preliminary version of the legislation, and we are seeking stakeholder feedback on its effectiveness and clarity before proceeding further,” he said. Currently, crypto exchanges that simply facilitate trading assets like Bitcoin (BTC) need only register with the…

Avalanche Defies Crypto Market Dump With 10% Gains

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Key takeaways: AVAX’s 10% to $33 on Tuesday is fueled by Avalanche treasury initiatives.  Avalanche’s network growth in TVL and stablecoin market cap shows booming DeFi adoption. AVAX’s rounded bottom pattern projects a short-term target at $55, and $212 in the longer term.  Avalanche’s AVAX (AVAX) token surged 10% to trade above $33 on Tuesday amid a broader crypto market downturn, bucking the sell-off trend. AVAX price is up 21.5% from its local low of $29, driven by institutional momentum, signaling renewed confidence in the layer-1 token. AVAX/USD four-hour chart.…

US Lawmakers Ask SEC to Act on Trump’s Crypto 401(k) Plan

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US lawmakers have called on Securities and Exchange Commission Chair Paul Atkins to help accelerate the executive order enabling crypto investments in US 401(k) retirement plans. In the letter on Monday, nine lawmakers, including House Financial Services Committee Chairman French Hill and Subcommittee on Capital Markets Chairman Ann Wagner, said that Atkins was asked to “provide swift assistance” to the Secretary of Labor and to make any necessary adjustments to its current regulations and guidance. They also noted that under President Donald Trump’s August EO on “Democratizing Access to Alternative…

Tether Denies Claims it Abandoned Uruguay Crypto Project

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Stablecoin issuer Tether has denied widespread local media reports that it is exiting Uruguay over a $4.8 million debt dispute with one of the country’s state-owned electricity entities. According to local news source Telemundo, Tether abandoned its crypto mining operations and future plans after the National Administration of Power Plants and Electric Transmissions (UTE) unplugged power at its facilities for failing to pay a $2 million electricity bill for May. It also reported that Tether also owed around $2.8 million for other local projects, bringing its total liabilities to roughly…

Crypto Markets Will Rally Once US Treasury Hits $850 Billion Goal: Analyst

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Crypto markets will enter “up only” mode once the United States Treasury hits its target goal of filling the General Account (TGA), the Treasury Department’s bank account, with $850 billion, according to Arthur Hayes, co-founder of the BitMEX crypto exchange. “With this liquidity drain complete, up only can resume,” Hayes wrote on Friday as the US TGA’s opening balance crossed $807 billion. When the Treasury is filling its General Account, the funds are generally sequestered and do not flow into private markets. However, not all analysts were convinced by Hayes’…

Crypto Will Surge On Fed Moves And Market Isn’t Ready: Economist

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Crypto market participants may be underestimating how aggressive the US Federal Reserve will be in the coming months in shifting its policy direction, according to an economist. “Markets are underpricing the likelihood of rapid rate cuts in the coming months on the part of the Federal Reserve,” Economist Timothy Peterson told Cointelegraph on Friday. “There has never been a gradual reduction in rates like that currently envisioned by the Fed,” Peterson said, explaining that he expects “the surprise effect” to kick in and potentially catch the market offside. “It will…

Michigan Crypto Reserve Bill Advances To Second Reading

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Michigan has taken the next step for its strategic crypto reserve bill, which moved to a second reading on Thursday.  The Michigan House Bill 4087, which would allow the state to invest in crypto assets under specific conditions, has moved to a second reading and was referred to the Committee on Government Operations. The legislation amends the Michigan Management and Budget Act to establish guidelines for a strategic crypto reserve, though it does not mention Bitcoin (BTC) specifically.  It comes amid a recent lull in developments around state-level Bitcoin reserves. …

Will the Fed’s Big Rate Decision Ignite the Next Leg of the Crypto Rally?

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The Federal Reserve, the central bank of the United States, is expected to begin slashing interest rates on Wednesday, with analysts expecting a 25 basis point (bps) cut and a boost to risk asset prices in the long term. Crypto prices are strongly correlated with liquidity cycles, Coin Bureau founder and market analyst Nic Puckrin said. However, while lower interest rates tend to raise asset prices long-term, Puckrin warned of a short-term price correction.   “The main risk is that the move is already priced in, Puckrin said, adding, “hope is…

SEC Listing Standards to Boost Crypto ETFs: Bitwse

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The US Securities and Exchange Commission streamlining the approval process for crypto exchange-traded products (ETPs) may trigger a surge of new offerings, but that doesn’t guarantee their success, a crypto executive warns. “The adoption of generic listing standards — which could come as early as October — will likely usher in a ton of new crypto ETPs. This is intuitive, but it’s also backed up by ETF history,” Bitwise chief investment officer Matt Hougan said in a report on Monday. However, Hougan warned that the launch of a crypto ETF…