One of the most discussed topics on crypto Twitter over the last seven days is BlackRock’s application for a Bitcoin Exchange-Traded Fund (ETF). Although the Securities and Exchange Commission (SEC) has turned down similar applications in the past, the asset manager hopes to secure the agency’s approval in the coming days.
BlackRock’s confidence helped Bitcoin reach $31,000 for the first time since mid-April. It’s, however, trading ($30,397) below that price as of this writing.
Last Monday, a Twitter account (@BTC_Archive) shared a Video of BlackRock boss Larry Fink explaining that his company had applied for over 570 ETFs, and only one got rejected.
Later that day, business analyst and crypto proponent Adam Cochran tweeted that he had acquired an unofficial BlackRock Non-fungible Token (NFT) to celebrate’s the firm’s ETF application.
Moreover, while the cryptocurrencies may have grown in value last week, Cochran expressed skepticism over Ethereum developers’ proposal to increase the stake required to be a validator from the current 32 ETH to 2,040. Cochran said the move would hurt Ethereum as it would reduce the number of validators, slowing down the network’s performance.
Unknown Individual Threatens Popular Blockchain Observer, Asks for $100K
On Tuesday, blockchain sleuth ZachXBT revealed that someone was trying to extort him for $100,000, just a few days after he announced raising more than $1 million to cover legal fees in an ongoing defamation lawsuit brought against by Huang, the founder of the fallen crypto treasury management firm Formosa Financial. In 2022, ZachXBT shared blockchain data on Twitter, calling out Huang for stealing ETH worth millions from Formosa Financial.
That day, crypto journalist @WuBlockchain revealed a glitch that occurred on Binance’s American entity Binance US. He tweeted that BTC/USDT trading pair on the platform had increased briefly to $138,000, then quickly dropped to $29,993. Wublockchain argued that the wild price fluctuation could be due to the market makers leaving Binance US after the SEC sued it.
The following day, Ripple announced securing an in-principle Approval from the Monetary Authority of Singapore to allow the firm to offer regulated crypto products and services in the country. The Ripple move to seek global expansion comes at a time when the SEC and other regulators are cracking down on US-based crypto companies.
That day, crypto news platform Bitcoin Magazine shared a photo of two Bitcoiners hand-delivering Bitcoin books to US Congressman Thomas Massie in his office. Crypto exchange Kraken replied to the tweet urging Massie to read and understand the books.
Meanwhile, CNBC’s journalist and crypto critic Jim Cramer ranted Wednesday afternoon. He tweeted that he was still mad at crypto projects that allegedly stole his money last summer.
On Thursday, Crypto.com, an exchange headquartered in Singapore, revealed its new milestone. The company tweeted about obtaining a Virtual Asset Provider license in Spain. Crypto.com joins other international trading platforms like Coinbase in serving crypto users based in Europe.
“Say No to Fed-Issued CBDC” – Human Rights Foundation
That day, Human Rights Foundation’s Chief Strategy Officer Alex Gladstein shared a video from the organization explaining the negative impacts of a US Central Bank Digital Currency (CBDC). The footage narrates how a Fed-issued CBDC will bring to an end the current financial independence that people enjoy. The Human Rights Foundation’s view on CBDC is similar to that of some Republicans, who have been against the idea since the Federal Reserve expressed its desire to launch one.
On Friday, finance journalist Frank Chaparro shared a report from research conducted by The Block and Coinbase. The report indicated that more than 50% of Fortune 100 companies had invested in 109 crypto projects since the start of 2020. This suggested a growing interest in the blockchain industry from big traditional companies.
Finally, United States President Joe Biden took to his official Twitter account to acknowledge that there would be a huge technological change in the next ten years. However, many wondered why his administration was still trying to drive blockchain companies out of the country.
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