LBANK INFO CRYPTOCURRENCY

Global crypto investment products saw a net outflow of $206 million last week, reflecting investor concerns over the “potential impacts of Federal Reserve policy decisions on interest rates,” as reported by Coinshares. Global Impact Of Crypto Outflows On Bitcoin ETFs And Market Volume CoinShares revealed that the recorded net outflow of $206 million marks the second consecutive week of outflows, driven by expectations that the Federal Reserve will maintain high interest rates for an extended period. The outflows were particularly notable in crypto investment products offered by asset managers such as Ark Invest, Bitwise, Fidelity, Grayscale, ProShares, and 21Shares.  CoinShares Head of Research James Butterfill noted: The data suggests appetite from ETP/ETF investors continues to wane, likely off the back of expectations that the FED is likely to keep interest rates at these high levels for longer than expected. Interestingly, global exchange-traded products saw a slight ...

The drama surrounding the FTX collapse continues to unfold with a surprising twist. Sam Bankman-Fried, the crypto wunderkind turned convicted fraudster, has agreed to cooperate with investors suing the company’s celebrity endorsers, including sports stars Tom Brady and Shaquille O’Neal, and actor Larry David. This move comes as a shock considering Bankman-Fried is currently appealing his 25-year prison sentence for defrauding FTX customers. The class-action lawsuit against the celebrity endorsers accuses them of deception and making false claims about the safety of FTX’s crypto assets. Investors believe Bankman-Fried’s insider knowledge can significantly strengthen their case. Sam Bankman-Fried: Playing The Snitch Role Bankman-Fried, once hailed as a crypto messiah, saw his empire crumble in November 2022 when FTX filed for bankruptcy. The exchange, which rose to prominence thanks in part to a star-studded marketing campaign featuring A-listers like Tom Brady and Shaquille O’Neal, ...

A group of Swiss Bitcoin advocates led by Yves Bennaïm has initiated a referendum to amend the Swiss constitution in a way that would mandate the Swiss National Bank (SNB) to include BTC alongside gold in its currency reserves, as reported by local media . The proposed amendment to the Swiss constitution is succinct yet significant. It seeks to modify the clause that currently mandates the SNB to “build up sufficient currency reserves from its earnings; part of these reserves shall be held in gold ,” to now include “and Bitcoin.” This change, though minimal in wording, could usher a substantial shift in the fiscal management of the nation. Will The Swiss Central Bank (Have To) Adopt Bitcoin? Yves Bennaïm, a figure deeply ingrained in the Swiss crypto scene and a board member of the Bitcoin Association Switzerland, articulated that the initiative is not just about altering the reserve assets but is a strategic move to “protect our sovereignty and neutrality” in an uncertain global ec...

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Asset management firm Grayscale has disclosed new details about its new Bitcoin Mini Trust fund, a “spin-off” of the GBTC exchange-traded fund (ETF). The new fund, which was first announced in March, is expected to operate independently and offer a cost-effective investment option to GBTC shareholders. Grayscale Offers Industry-Low Fee With New Fund According to a recent filing with the United States Securities and Exchange Commission (SEC), asset manager Grayscale plans to set the fees for its new Bitcoin Mini Trust at one-tenth of the current 1.5% fee for GBTC.  The 0.15% fee would make the fund the cheapest amongst the 11 Bitcoin ETFs approved in early January, followed by Franklin Templeton’s fund at 0.19%. The filing revealed that Grayscale intends to disburse 63,620 bitcoins, or 10% of the Bitcoin held by GBTC at the beginning of the year (equivalent to roughly $4 billion), towards the Mini Trust’s initial distribution.  This $4 billion distribution would make the...

Pro-crypto organization Coin Center is pushing against a new legislative bill targeted at regulating stablecoin use and operations. In a public statement released on Friday, the US-based advocacy group heavily criticized the Lummis-Gillibrand Payment Stablecoin Act , describing it as “unconstitutional” and anti-innovation. Related Reading: ‘Ethereum Wins Big’ With New US Stablecoin Draft Bill: Expert Latest Stablecoin Bill Is Bad Policy: Coin Center On Wednesday, senators Kirsten Gillibrand and Cynthia Lummis introduced a bill on stablecoin payments. This bipartisan proposed legislation aims to protect investors’ interest as the popularity and adoption of stablecoins as a “comfortable” substitute to the US dollar have risen over the past few years.  The Lummis-Gillibrand Payment Stablecoin Act includes many crucial provisions, including strict compliance of stablecoin operators with existing US anti-money laundering and sanction regulations. Furthermore, this bill also propos...

Shiba Inu is currently on a consolidation path after a strong upswing earlier in the month . Specifically, SHIB is currently down by 13% in the past seven days, although still up by 210% in a wider 30-day time frame. According to crypto analyst Javon Marks, Shiba Inu is on its way to another major breakout after the current consolidation. The analyst sees the meme coin surging to $0.000081 and then a further 90% increase to hit a new all-time high. Continued Uptrend For Shiba Inu Shiba Inu has seen massive gains recently , rallying 280% from $0.00001178 on the last day of February to $0.00004456 on March 5. This surge allowed the dog meme coin to outperform most cryptocurrencies amidst a wider bull market, taking a lot of traders by surprise. This price surge was accompanied by an increase in trading volume. Kaiko data reveals that Shiba Inu saw the largest volume among meme coins at $31 billion in just one week. However, according to social media posts, analyst Javon Marks had pr...