Category: crypto

VanEck is optimistic about Bitcoin, citing strong macroeconomic support and $1.2 billion in institutional inflows, leading to a 7.7% increase in September. In contrast, Ethereum struggles with market share and declining fees, despite a slight recovery. Layer-1 blockchains like Sui and Aptos also showed strong performance during the month.

Bitwise plans to transition three Bitcoin and Ethereum futures ETFs to rotate between crypto and US Treasuries, aiming to optimize risk-adjusted returns based on market trends. The new strategy will employ a trend-following approach, while keeping expense ratios and tax treatments unchanged for current investors. Adjustments are expected by December 3.

Standard Chartered views Bitcoin’s drop below $60,000 as a buying opportunity despite ongoing geopolitical tensions affecting prices. The bank’s researcher, Geoffrey Kendrick, noted that while Bitcoin doesn’t serve as a safe haven like gold, it could thrive amid potential financial instability, especially with shifting US election dynamics favoring Trump.

In September, venture capital funds invested over $659 million in crypto startups, a 3% increase from August. Infrastructure projects dominated with $457 million, while blockchain gaming attracted $63 million, largely fueled by Balance Games. DeFi funding dropped 55% to $58 million, with Tune.fm raising $50 million for Web3 services.

The 2024 US presidential election race remains competitive, with Donald Trump and Kamala Harris tied at 50% in Polymarket predictions. Recent legal developments against Trump, including allegations of planned election fraud, have not significantly impacted his odds. Polymarket continues to see increased activity as the election approaches.

The DOJ and SEC support a class-action lawsuit against Nvidia for allegedly misleading investors about crypto mining’s impact on revenues in 2017/2018. They argue evidence warrants reviving the case. Investors claim Nvidia’s CEO downplayed reliance on crypto, while Nvidia counters that the data used by investors is fabricated.

El Salvador continues its Bitcoin initiatives despite International Monetary Fund (IMF) concerns. President Juan Carlos Reyes announced amendments empowering the National Commission on Digital Assets to regulate Bitcoin. The country aims to lead in digital asset adoption while facing IMF recommendations for cautious measures. Crypto advocates urge support for President Bukele’s vision.

The crypto community is reacting to claims from a Politico report alleging an HBO documentary has identified Satoshi Nakamoto, Bitcoin’s creator. While speculation surrounds candidates like Len Sassaman and Hal Finney, many are skeptical of the documentary’s accuracy, especially concerning links to criminal activity and Bitcoin’s historical portrayal.

PayPal processed its first business payment using the stablecoin PYUSD on September 23, settling an invoice with Ernst & Young via SAP’s digital currency hub. The adoption of stablecoins enhances business transactions, offering fast, cost-effective solutions, particularly for cross-border payments, amid growing interest from companies and a favorable market landscape.

Ethereum co-founder Vitalik Buterin proposed reducing the minimum staking deposit from 32 ETH to 16 or 24 ETH to enhance solo staking accessibility. He emphasized that high deposit requirements hinder participation, contributing to centralization. Enhancing bandwidth requirements could offset this reduction while supporting decentralization and security in the network.