Filecoin, the decentralized storage platform behind the Filecoin (FIL) cryptocurrency, is gearing up for its Dragon mainnet upgrade. As the blockchain prepares for its mainnet upgrade, it is also making significant strides in the competitive digital storage landscape dominated by tech giants like Google Cloud and Amazon Web Services (AWS). Rise of Filecoin in the
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Breaking: SEC, Gary Gensler Considered Ethereum As Security – Court
A new report suggests SEC Chairman Gary Gensler believes Ethereum (ETH) was a security for the last 12 months. An April 29 Fox Business report states that Gensler believed for at least a year that Ethereum was an unregistered security. This is in contrast to the previous positions of the Securities and Exchange Commission (SEC) The post Breaking: SEC, Gary Gensler Considered Ethereum As Security – Court appeared first on CoinGape .
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Just In: FTX, Voyager Secure $450M Settlement in Bankruptcy
FTX and Voyager Digital have secured a $450 million settlement. The agreement, sanctioned by Judge John Dorsey of the United States Bankruptcy Court for the District of Delaware, aims to settle all claims between the two firms. This settlement is part of Voyager’s ongoing efforts to repay creditors following its bankruptcy filing in July 2022. The post Just In: FTX, Voyager Secure $450M Settlement in Bankruptcy appeared first on CoinGape .
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Lawmakers Urge Biden Admin for Heightened Crypto Oversight
US lawmakers are urging the Biden government to keep crypto oversight as a priority since countries at present are using it for sanction evasion. According to a Reuters report, to find out what further powers could be required to stop sanctioned entities in Russia and other countries from using digital assets like the stablecoin Tether, The post Lawmakers Urge Biden Admin for Heightened Crypto Oversight appeared first on CoinGape .
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Pepe Coin Price Forecast: Will Extreme Volatility Signal Major Sell-Off?
Pepe coin price forecast: Pepe, a cryptocurrency inspired by internet memes, has experienced a significant decrease in its market value. Currently, the Pepe price is at $0.00000704. This represents a drop of over 4.92% over the past 24 hours. The dip in Pepe’s price is part of a larger downward trend affecting the meme coin The post Pepe Coin Price Forecast: Will Extreme Volatility Signal Major Sell-Off? appeared first on CoinGape .
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SEC’s Mute Stance on Ether Classification was Misleading, Says Patrick McHenry
The Ether classification by the SEC has come under huge scrutiny. Patrick McHenry, The House Financial Services Committee Chairman, told Fox journalist Eleanor Terrett that new evidence reveals that Chair Gensler personally lied to Congress, just months after a federal judge punished SEC enforcement attorneys for lying to the court. SEC’s Misleading Stance According to The post SEC’s Mute Stance on Ether Classification was Misleading, Says Patrick McHenry appeared first on CoinGape .
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Ethereum Regulatory Saga: Court Filings Expose SEC Chair Gensler’s Stand
Newly disclosed court filings have shed light on the belief of the US Securities and Exchange Commission (SEC) and its chairman, Gary Gensler, that Ethereum (ETH) is an “unregistered security” under the Howey Test, which is considered by the vast majority of crypto advocates to be an outdated legal framework for regulating crypto assets. According
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Hong Kong Bitcoin ETF Readies For Stellar Debut, Expected To Outshine $125M US Launch
The eagerly anticipated Hong Kong Bitcoin ETF market is scheduled to commence trading on Tuesday, marking a significant milestone in the increasing adoption of the leading cryptocurrency and building upon the success of the US ETF market. With their approval, the newly regulated index funds are poised for a noteworthy debut, surpassing the first-day inflows in the United States. HK Bitcoin ETF Market Poised For Record-Breaking Debut Zhu Haokang, the Digital Asset Management Supervisor and Family Wealth Supervisor at Warsaw Fund expressed great confidence in the trading volume of Hong Kong Bitcoin ETFs on its inaugural day. This volume exceeded the scale achieved during the US launch on January 10th of this year, which amounted to over 125 million US dollars. Related Reading: Crypto Analyst Says Altcoins Are About To Enter A Parabolic Curve, Here’s Why Haokang further stated that Huaxia, one of the three ETF issuers, is confident in becoming the largest ETF issuer on the first day of trading. At the same time, OSL, a digital asset platform, has already completed the initial fundraising with two funds, including Huaxia. Furthermore, the capital inflow during the Hong Kong spot Bitcoin ETF’s first-day listing transaction has surpassed that of the US spot ETF market. According to Haokang, this difference can be attributed to two factors: the purchase and redemption of spot and in-kind transactions, which are unavailable in the US spot Bitcoin ETF. Unprecedented Investment Options One unique aspect of the China Summer Fund’s Hong Kong spot ETF is its incorporation of Hong Kong dollars, US dollars, and dual counter offers (RMB counters), distinguishing it from the other two offerings. Additionally, the fund features a non-listed share alongside the listed share, further setting it apart from its counterparts. Given the physical purchase method, investors, including Bitcoin miners, can directly acquire the Hong Kong virtual asset spot ETF using the Bitcoin they already hold. Moreover, outreach efforts have reportedly been made to attract investors from countries and regions without ETF offerings, such as Singapore and the Middle East, generating significant interest. Despite the substantial market size of the current US spot Bitcoin ETF market, Hong Kong’s utilization of cash and in-kind subscriptions, coupled with the appeal of open trading during Asian market hours, is expected to attract numerous American investors, according to Haokang. Mainland Chinese Investors Restricted Wayne Huang, OSL ETF and Trusteeship Business Manager, highlighted that Victory Securities could facilitate physical purchases, and the winning securities in China can also leverage OSL’s support. Three vouchers enable physical purchases, with more expected to follow suit. Following the ETF’s listing, various voucher chambers of commerce are likely to participate, increasing the overall ecosystem of the Bitcoin ETF market in May. Related Reading: Ethereum Fees Dive: Will This Spark A Surge In Network Activity? On the other hand, Zhu Haokang also clarified that mainland Chinese investors are currently restricted from investing in Hong Kong’s spot ETF market. However, qualified investors, institutional investors, retail investors, and qualified international investors in Hong Kong can participate in the spot ETF race. Individuals seeking further details are advised to consult voucher providers and sales channels while closely monitoring potential regulatory adjustments and the development of a specific regulatory framework in the future. Currently, BTC is trading at $63,000 after failing to consolidate above the key $66,000 level in recent days. However, the launch of the ETF market in Hong Kong is expected to significantly impact the price of BTC in the long run. Featured image from Shutterstock, chart from TradingView.com
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Breaking: Morgan Stanley Files to Expand Bitcoin ETF Access to 12 Funds
Morgan Stanley, the American multinational investment bank, has filed a submission with the U.S. Securities and Exchange Commission (SEC) to permit the exposing of Bitcoin ETF to about a dozen of it investment funds. This strategy seeks to diversify their clients’ investment strategies by including the fast-growing cryptocurrency market. Funds Targeted for Bitcoin ETF Inclusion The post Breaking: Morgan Stanley Files to Expand Bitcoin ETF Access to 12 Funds appeared first on CoinGape .
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