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Spenser Reed

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Venture capital firm Digital Currency Group (DCG) announced that it has cleared all of its short-term loans currently due to the now-defunct crypto lending platform Genesis.

Digital Currency Group confirms settling $700M of debt with Genesis

Spenser Reed - 0
Barry Silbert, CEO of Digital Currency Group, stated that the company has now satisfied all its obligations currently due. Venture capital firm Digital Currency Group...
Dennis M. Kelleher, CEO of nonprofit organization Better Markets, has urged the United States Securities and Exchange Commission (SEC) to not approve a spot Bitcoin exchange-traded fund (ETF). He argued that it goes against the core principles of the regulatory body. In a letter addressed to SEC secretary Vanessa Countryman on Jan. 5, Kelleher emphasized that if the SEC were to approve a spot Bitcoin ETF it could lead to investors facing significant risks: “We submit this supplemental comment letter (which Better Markets very rarely does) because it would be a grave if not historic mistake almost certainly leading to a massive investor harm if the SEC approves the pending rule change.” Letter addressed to SEC secretary Vanessa Countryman. Source: BetterMarkets Advertisement The ultimate Blockchain event by Cointelegraph is back - May 8-9, Hong Kong Ad Kelleher argued that the proposed product would subject investors to the risk of potential fraud, a concern that has been associated with the crypto industry since its inception. “The approval of these spot Bitcoin ETPs would not only expose investors to a market thoroughly contaminated with fraud and manipulation,” he stated. This comes amid Cointelegraph recently reporting that over 324,000 crypto users fell victim to phishing scams in 2023, with around $295 million in digital assets lost to wallet drainers. Meanwhile, Kelleher further explained that it would also enable the crypto industry to claim that their products are now approved by the United States government. Related: ARK’s Cathie Wood sees short-term effect of spot Bitcoin ETF as ‘sell on news’ However, prominent crypto commentators dismissed the letter, with Bloomberg ETF analyst James Seyffart criticizing it on social media. In a post on X (formerly Twitter), Seyffart reiterated the substantial effort invested by asset management firms in advancing their applications. Meanwhile, in another post on X, Fox Business journalist Eleanor Terrett reiterated negative remarks that Kelleher has made about crypto in recent times. “It’s worse than a fantasy, it’s a fraud on the public," she recalled. Kelleher made this comment during an interview with the Institute for New Economic Thinking in May 2023. In more recent news, 11 of the spot Bitcoin ETF applicants submitted 19b-4 amendment forms before the close of business on Jan. 5. These forms are one of the last stages in the SEC approval process, but S-1 documents must be completed in order for U.S. exchanges to begin listing shares of investment securities with direct exposure to crypto. The SEC has until Jan. 10 to approve or reject a spot Bitcoin ETF.

Bitcoin ETF approval would be a ‘historic mistake,’ says Better Markets...

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Bloomberg ETF analyst James Seyffart disagreed with the letter, stating that denying the spot Bitcoin ETF would be a "criminal move." Dennis M. Kelleher, CEO...
The long-awaited potential approval of a spot Bitcoin BTC tickers down $44,017 exchange-traded fund (ETF) in the United States could mean the market sees Bitcoin supply suddenly drop as funds snap up as much as they can, some market observers have predicted.

Spot Bitcoin ETF capital: Could funds potentially buy up all BTC...

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A company or a government might attempt to buy a significant amount of Bitcoin, but it would likely get tricky pretty fast, as the...
Bitcoin BTC tickers down $44,119 trading OG Arthur Hayes now predicts an up to 40% BTC price crash in March.

March banking crisis rerun risks 40% Bitcoin price crash — Arthur...

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Bitcoin dipping 20% would be "healthy," but up to 40% is possible depending on liquidity conditions, the former BitMEX CEO now reveals. Bitcoin trading OG Arthur...
The Big Bang of artificial intelligence exploded in late 2022 when OpenAI’s ChatGPT large language model AI became public.

Artificial intelligence predicts crypto in 2024

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2023 ushered in the generative AI trend, and 2024 may see it go mainstream. But what does AI think will happen with crypto in...
The price of Bitcoin BTC tickers down $45,415 has broken through $45,000 for the first time in nearly two years as the market prepares for a widely expected approval of a spot Bitcoin exchange-traded fund (ETF).

Bitcoin price breaks above $45K, days ahead of potential ETF approval

Spenser Reed - 0
Bitcoin is trading above $45,000 for the first time in nearly two years as the market gears up for the potential approval of the...
Artificial intelligence (AI) can play a role in a scenario where Bitcoin’s BTC tickers down $42,765 price reaches $100,000 in 2024, according to GPT-4, the latest version of AI chatbot ChatGPT.

ChatGPT explains how AI can help Bitcoin reach $100k in 2024

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The chatbot said AI could play a role in pushing Bitcoin’s price up through its influence on market analysis, trading strategies and blockchain tech...
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