Here are the top 10 stories that shaped the cryptocurrency market on January 4:
1. Final Stage in Bitcoin ETF Decision:
The race for a Bitcoin ETF continues as ARK21Shares, VanEck, Fidelity, and Grayscale file for ‘registration of securities’ with the SEC. A decision is expected by tomorrow, with sources predicting SEC approval. Additionally, World Funds Trust has entered the race with six Bitcoin ETF filings.
2. Regulatory Scrutiny Over Crypto Scams:
Issues of potential fraud in the crypto market have surfaced as Australia’s consumer watchdog faces criticism for not warning against the HyperVerse crypto scheme, and ACE founders are arrested in Taiwan for crypto fraud.
3. Coinbase’s New UK Investor Assessment:
In preparation for upcoming FCA regulations, Coinbase has introduced a risk acknowledgment form for UK clients, aimed at promoting informed trading decisions for high-risk investments.
4. Security Breach at Gamma Strategies:
Another security breach has hit the market, with Ethereum-based protocol Gamma Strategies reporting a loss of $3.4 million. The protocol has suspended all deposit activities and offered a bounty for the return of stolen assets.
5. Ex-Citigroup Executives Launch Bitcoin Securities:
Former Citigroup executives have announced the launch of Bitcoin depository receipts, targeting global institutional investors and bypassing US SEC regulations.
6. Ark Invest’s Strategic Moves in the Market:
Cathie Wood’s Ark Invest has sold $25.3 million worth of Coinbase shares and purchased Tesla shares, indicating a shift in their investment portfolio.
7. Huobi Korea Ceases Crypto Exchange Services:
Huobi Korea will terminate its virtual asset trading services by January 29 but will continue to support customer asset withdrawals.
8. SEC Lawsuit Against Binance Moves Forward:
The SEC has filed a notice in its lawsuit against Binance, citing the Terraform Labs case as supplemental authority, which identified UST and LUNA as securities. This could impact the SEC’s lawsuit against Binance, Binance.US, and founder Changpeng ‘CZ’ Zhao.
9. Impressive Crypto Inflows in 2023:
2023 saw a significant increase in crypto investment products, with inflows totaling $2.25 billion, exceeding those of 2023 by 2.7 times.
10. U.S. Government’s Bitcoin Holdings:
The U.S. government holds a significant Bitcoin stash, valued at least $8.3 billion, surpassing corporate players like MicroStrategy. This comes after the government’s seizure of 70,000 BTC last month.
Stay tuned for more updates and highlights in the ever-changing world of digital assets.
