Good morning, Asia. This is what makes news in the market:Welcome to Asian morning briefings, daily summary of top stories throughout the US time, and an overview of market movements and analysis. For a detailed overview of the US market, see Coindesk’s Crypto Daybook Americas.On Wednesday in the US, the Securities and Exchange Commission announced that investors are permitted to redeem Bitcoin and Ether Exchange Trade Funds (ETFs) in kind.This decision allows institutional traders to increase efficiency by creating and redeeming ETF stocks directly in BTC or ETH, avoiding Fiat conversion.But in Hong Kong, this is nothing new. In late…
Author: ₿e Proud
Ethereum Price struggled to surpass the $3,940 zone. ETH is currently consolidating its profits and may be aiming to move to $4,000 soon. Ethereum has begun new increases above the $3,840 and $3,880 levels. The price is trading above $3,800, and is a simple moving average of 100 hours. The ETH/USD hourly wage chart (data feed via Kraken) has a bearish trendline that forms at $3,840. The pair could start a new increase if supported beyond the $3,725 zone in the short term. Ethereum Price retains support Ethereum Price struggled to expand its profits beyond the $3,940 level, like Bitcoin.…
Lummis Bill may allow Bitcoin loans on your mortgage. Borrowers can use crypto without converting it to cash. Wide range of acceptance of Bitcoin loans across the US Senator Cynthia Ramis sponsored the 21st century Mortgage Act. This is a bill aimed at putting the housing sector into the 21st century by providing legal status to Bitcoin and other cryptography in the loan eligibility process. The move could potentially reconstruct the views of Bitcoin loans and other crypto-assisted financial products within the US mortgage market. If passed to the law, the bill considers cryptocurrency assets when determining the acceptability of…
Key Takeaways Marti Technologies is allocating 20% of its cash reserves to digital assets, starting with Bitcoin. The allocation focuses on surplus cash, with the company’s core business operations and growth plans unchanged. Share this article Marti Technologies, an Istanbul-based ride app, is allocating 20% of its cash reserves to digital assets, starting with Bitcoin, said Oğuz Alper Öktem, the company’s founder and CEO, in a statement on X. “We aim to ensure that the cash we do not use in our company operations maintains its value under different market conditions,” said Öktem, noting that Marti views Bitcoin and other…
Bitcoin Miner Mara Holdings (Mara) shares jumped nearly 4% in post-market trading after recording record revenue in the second quarter, breaking Wall Street expectations. Mara reported revenue of $238.5 million, up 64% from $145.1 million in the same quarter a year ago, according to a revenue presentation. The mining company said the increase was primarily due to an average Bitcoin price rise of 50% during the quarter. Mara’s revenues fell to an average analyst estimate of $227.9 million, according to FactSet data. The company mined 2,358 Bitcoins in the quarter, up 3% from the previous quarter. The currently online enriched…
Linea still launches the most Ethereum-centric layer 2Linea is rewriting the rules of Layer 2 design by becoming the most natural extension, rather than mimicking Ethereum. In its latest announcement, Linea has introduced a bold framework featuring native ETH yields, protocol-level ETH Burn, and the Ethereum-Native consortium to manage the largest ecosystem fund in L2 history.With over $10 billion in $ETH bets and transaction volumes above 25T, Ethereum is already the dominant settlement layer in the world. Now, Linea aims to accelerate control of Ethereum by providing consistent economics, capital efficiency and unparalleled developer incentives.First ETH burning with Layer 2In…
Key Takeaways The SEC approved in-kind creation and redemption for Bitcoin and Ethereum ETFs, replacing the cash-only model. Analysts expect altcoin ETF approvals to follow with in-kind mechanisms from the outset. Share this article The SEC has approved in-kind creation and redemption mechanisms for spot Bitcoin and Ethereum exchange-traded products, aligning them with traditional commodity ETFs and replacing the previous cash-only model.The move allows authorized participants to deliver or receive Bitcoin and Ether directly when issuing or redeeming shares, cutting costs and improving tax efficiency for issuers and investors alike.“It’s a new day at the SEC,” said Chairman Paul S.…
NEW YORK — Roman Storm, a standing trial for tornado cash developers in Manhattan, Roman Storm, has accused the privacy tools he created of helping hackers and other cybercriminals wash more than $1 billion in criminal income, his lawyer told the court on Tuesday.Storm told District Judge Katherine Polk Faira of the U.S. District Court for the Southern District of New York (SDNY) that she knew she had the right to testify in her defense, but she chose not to. After Storm made his decision, his defense team, led by Keri Axel and Brian Klein of Waymaker LLP, put their…
Spotify has experimented with various voice interfaces in the past, and more recently, added an AI DJ that introduces tunes the company thinks you’ll like and lets you make your own requests. Now, Spotify is teasing that generative AI advances may pave the way for an even more conversational interface with the streaming service in the future, according to comments made during Spotify’s second-quarter earnings call with investors on Tuesday. Asked about how AI was affecting its business, Spotify Chief Product and Technology Officer Gustav Söderström noted that consumers today are able to talk to Spotify in plain English to…
OpenAI announced Tuesday the launch of Study Mode, a new feature within ChatGPT that aims to help students develop their own critical thinking skills, rather than simply obtain answers to questions. With Study Mode enabled, ChatGPT will ask users questions to test their understanding and, in some cases, refuse to offer direct answers unless students engage with the material. OpenAI says Study Mode is rolling out to logged in users on ChatGPT’s Free, Plus, Pro, and Team plans starting Tuesday. The company expects to introduce Study Mode to its Edu subscribers, which largely consists of young people whose school administrator’s have purchased…