Author: NBTC
Crypto Asset Management firm Bitwise said Ethereum’s Fusaka upgrade, expected to go live later Wednesday, is the kind of unflashy infrastructure change markets tend to overlook in real time, and then credit later for making the network feel sturdier and more investable. The upgrade is constructive for Ethereum over time because it expands capacity, improves validator efficiency as rollups grow and, most importantly, strengthens the blockchain’s ability to capture value from layer-2 activity, wrote analyst Max Shannon. Fusaka also raises the layer-1 gas limit to 60 million per block, a move that should lift throughput and take some pressure off…
The Ethereum treasury trade appears to be unwinding as monthly acquisitions continue to decline since the August high, while the largest players continue to scoop up billions of the Ether supply. Investments from Ethereum digital asset treasuries (DATs) fell 81% in the past three months, from 1.97 million Ether (ETH) in August to 370,000 ETH in November, according to Bitwise, an asset management firm. “ETH DAT bear continues,” wrote Max Shennon, senior research associate at Bitwise, in a Tuesday X post. Despite the slowdown, some companies with stronger financial backgrounds continue to accumulate the world’s second-largest cryptocurrency or raise funds…
When the California State Teachers’ Retirement System makes a move, the financial world pays attention. The recent revelation that CalSTRS holds $80 million in MicroStrategy stock represents a significant milestone in institutional cryptocurrency adoption. This strategic CalSTRS investment demonstrates how major pension funds are positioning themselves for the digital asset revolution. Why Is the CalSTRS Investment in MicroStrategy So Important? As the third-largest pension fund in the United States, CalSTRS manages retirement assets for nearly one million California educators. Their investment decisions carry enormous weight and influence institutional investment trends. The $80 million CalSTRS investment in MicroStrategy isn’t just about…
The UK government is planning to ban political parties from accepting cryptocurrency donations as part of new election reforms, according to people familiar with developing legislation. The ban would impact Nigel Farage’s Reform UK, which announced last May that it would accept such donations as part of its push to cultivate a pro-crypto image. As reported by POLITCO, the UK government hasn’t denied these reports, and instead claims it will “set out further details in our Elections Bill.” The bill will reportedly restrict donations from shell companies and unincorporated associations and could compel parties to carry out a risk assessment…
UAE-regulated Capital.com, a global trading platform, reported that of its Q3 trading volumes of $755 million, crypto contributed to 51% of that total, and as such, the company has expanded its crypto offering to MENA. According to Capital.com, crypto trading led the surge in its Q3 report, climbing 53.9% quarter-on-quarter worldwide and an exceptional 67% month-on-month in MENA, reflecting the region’s growing appetite for digital assets. As per the press release, the company has added over 1,200 new markets, bringing the total number of instruments it offers traders to 5,000, including a significantly expanded range of crypto CFDs. Equities also…
Key Takeaways SEC enforcement of Rule 18f-4 prompts revisions to 3x leveraged ETF filings tied to crypto and tech stocks. Direxion’s proposed ETFs tracking Bitcoin, Ethereum, and tech sectors fall under new scrutiny. The SEC has requested revisions to multiple ETF filings that propose 3x and 5x leverage ratios to ensure compliance with Rule 18f-4, a regulation governing derivatives use by registered investment companies. Rule 18f-4 requires funds to adopt risk management programs and adhere to value at risk limits for leveraged products. The regulation generally limits leverage to a set threshold, with proposals exceeding this level facing heightened scrutiny.…
Key Takeaways Ethereum price has surged 9% as anticipation builds for the Fusaka network upgrade. Fusaka introduces key scaling and security improvements, including PeerDAS, blob scaling, and several EIPs targeting data efficiency and gas cost management. Ethereum has climbed 9% over the past 24 hours as the network approaches its next milestone, the Fusaka upgrade. According to CoinGecko data, ETH is changing hands near $3,100 and has logged more than $30.7 billion in trading volume. The upswing has also been supported by a crypto market turnaround led by Bitcoin. Slated to go live on the Ethereum mainnet at slot 13,164,544…
The U.S. markets have shown signs of recovery after a steep decline following the six-week government shutdown, according to Ark Invest analysis. Liquidity in the U.S. financial system reached a multi-year low of $5.56 trillion on Oct. 30, according to the Federal Reserve and the U.S. Treasury. The sustained six-week period of government shutdown blocked roughly $621 billion from entering the U.S. market. To date, approximately $70 billion has been injected into the economy following the end of the government shutdown on November 12. According to Ark Invest estimates, roughly $300 billion more could be injected into the market over…
Federal Reserve Governor Michelle Bowman issued a stark warning to the digital asset industry Tuesday, telling lawmakers that the implementation phase of the GENIUS Act is imminent. In a prepared testimony for the House Financial Services Committee, Bowman signaled that the central bank is finalizing a strict supervisory framework that will force stablecoin issuers to compete on a level playing field as traditional lenders. Related: Feds Governor Foresees Continued Pause With Interest Rate Cuts in 2024 Fed Sees Need for Coordination Across Agencies Bowman told legislators that her mandate is to support responsible innovation while strengthening supervision of risks arising…
BlackRock is not holding back on its rapid Ethereum-selling streak, even despite the massive crypto market resurgence witnessed over the last day. Data from on-chain monitoring firm Lookonchain has revealed another huge Ethereum deposit from the firm. Amid the strong crypto price rebounds, BlackRock has again moved a massive 44,140 ETH, worth about $135.36 million, to Coinbase Prime in a suspected sell-off attempt on Wednesday, December 3. The latest Ethereum deposit from BlackRock has happened in four batches of 10,000 ETH and a single 4,140 ETH transfer, bringing the total amount of ETH deposited today to 44,140. While the move…