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Bitcoin Headed Towards Its Worst Month Since May
Bitcoin appears to be set to end the seasonally bearish month of September on a negative note due to instability in global financial markets, regulatory concerns, and China’s decision to ban crypto businesses. “All About Bitcoin” host Christine Lee breaks down the Chart of the Day.
SEC Chair Gensler Reiterates Support for Futures-Based Bitcoin ETFs
U.S. Securities and Exchange Commission (SEC) Chairman Gary Gensler reiterated his support Wednesday for a narrow class of bitcoin exchange-traded funds (ETFs) that would invest in futures contracts instead of the crypto itself. CoinDesk's Galen Moore discusses the outlook for the U.S. ETF landscape, suggesting the likelihood of a spot ETF getting approved compared to a bitcoin futures ETF. Plus, his views on El Salvador using volcanic energy for bitcoin mining.
Standoff Over $28T of US Government Debt Could Rattle Bitcoin Market
As a pitched battle in the U.S. Congress raises the risk of the government defaulting on its $28 trillion in debt, some cryptocurrency traders are speculating whether the gridlock over raising the debt ceiling could cause a swoon in bitcoin prices.
Is China’s Crypto Crackdown an Opportunity for DeFi?
A price surge for the native tokens of leading decentralized finance (DeFi) protocols came as no surprise after China tightened its crackdown on crypto trading because DeFi trading platforms are, in theory, resistant to censorship. Still, some insiders doubt the price rally will last.
Cross-Chain Wallet XDEFI Raises $6M to Take on MetaMask, Phantom
Following a $6 million funding round from leading blockchain VC firms and DeFi power users, XDEFI, a wallet that will allow users to interact with nine different blockchains, is looking to challenge incumbent MetaMask’s reign and newer upstarts like Phantom.
Grammy-Nominated Artist BT on Turning Album ‘Metaversal’ Into an NFT Treasure Hunt
BT, a Grammy-nominated trance artist and software designer, is launching "Metaversal," an NFT album and cryptographic treasure hunt. The programmatic album is being released as an 11-tiered auction on Origin Protocol's NFT Launchpad. BT breaks down how it all works, discussing the album, its user experience, unlockable NFTs, and the future of music.
Cardano Foundation CEO on Gaining Smart Contract Capability, 'Alonzo' Hard Fork
Open-source public blockchain Cardano's ADA token has skyrocketed over 1000% YTD. Behind this surge is the completion of the "Alonzo" hard fork, a major upgrade on the Cardano network that saw the implementation of smart contract functionality, paving the way for native decentralized applications (dapps). Cardano Foundation CEO Frederik Gregaard shares insights into what "Alonzo" means for development on the blockchain, the network, and the overall digital asset ecosystem.
China Crackdown Legal Concerns, Korea Discusses Virtual Asset Law
Crypto gets a new superstar - Mr. Goxx, the hamster. China's crypto crackdown raises legal concerns. Korea discusses new virtual asset law. We'll have more on those stories and other news shaping the cryptocurrency and blockchain world in this episode of "The Daily Forkast."
Bitcoin Eyes Biggest Monthly Price Decline Since May
Despite trading 2.8% higher Wednesday at $42,200, bitcoin is eyeing a 10% monthly decline, the biggest loss since May. Richard Johnson, founder and CEO of FINRA and SEC-registered broker-dealer Texture Capital, discusses his outlook for bitcoin, the potential impact of China's crypto ban on the markets, DeFi, and smart contract protocols.
Kraken to Pay $1.25M Fine After Settling Charges With CFTC
Crypto exchange Kraken will pay $1.25 million to settle charges with the Commodity Futures Trading Commission (CFTC). It offered illegal margined digital asset transaction services and did not register as a futures commodity merchant (FCM) with the regulatory agency.