Live Updates on Cryptocurrency News:
Recently, Ripple CEO Brad Garlinghouse announced that the company will be delaying its initial public offering (IPO) in the US due to the hostile stance of the US SEC. In response, Ripple explored other markets outside of the US for its IPO. Garlinghouse also reiterated that SEC Chair Gary Gensler is a “political liability” despite recently approving spot Bitcoin ETFs.
In other news, the US Treasury Department and Internal Revenue Service have announced that businesses do not have to report digital asset transactions above $10,000 until new regulations are issued. This is due to the Infrastructure Investment and Jobs Act revising the rules for reporting cash receipts of over $10,000 to also include digital assets.
The overall crypto market cap has rebounded by nearly 1%, reaching $1.71 trillion, thanks to a rise in altcoin prices. Bitcoin continues to trade within a narrow range, holding steady at $43,000 with a slight increase in trading volume. Among the top altcoins, Ethereum and Solana have gained upward momentum, with Ethereum trading at $2,578, up over 2% in the last 24 hours, and Solana jumping 4% to $100.
Live Updates:
China Standardizes AI with New Guideline:
According to a statement published by China’s industry ministry, the country has released draft rules for standardizing the artificial intelligence (AI) sector. By 2026, the goal is to establish over 50 industry-wide and national AI standards, with hopes of contributing to the creation of more than 20 worldwide AI standards.
Fidelity Takes Top Spot Among Bitcoin ETF Asset Flows:
Over the past three days, Fidelity has emerged as the top asset flow with $524 million. Blackrock and Bitwise follow in second and third place, respectively.
Invesco and Valkyrie ETFs Boost Portfolios with Bitcoin:
Invesco and Valkyrie’s Bitcoin ETFs have made significant additions to their portfolios, acquiring a total of 1,076 Bitcoins. Invesco Galaxy Bitcoin ETF (BTCO) purchased 721 Bitcoins, while Valkyrie Bitcoin Fund (BRRR) added 355 Bitcoins.
Peter Schiff Anticipates Stricter Bitcoin Regulations from Gary Gensler:
Renowned investor Peter Schiff predicts that SEC Chair Gary Gensler, pressured by recent spot Bitcoin ETF approvals, will introduce more stringent regulations for cryptocurrencies. This could potentially increase the cost of Bitcoin transactions and lead to a price downturn.
Ripple Delays US IPO:
Despite seeking an IPO in the US, Ripple CEO Brad Garlinghouse announced that the hostile stance of the US SEC has hindered their plans. As a result, Ripple has been exploring other jurisdictions with clearer regulations for their IPO.
Traders Turn $131K into $6M with TROLL Meme Coin:
Four traders have managed to turn $131K into almost $6 million by trading TROLL meme coin after Elon Musk changed his Twitter bio to “chief troll officer” (CTO). TROLL price has seen a 15% increase in the last 24 hours.
Bitcoin Open Interest on the Rise:
Following the launch of spot Bitcoin ETFs, Bitcoin open interest has been gradually increasing.
Ark Invest Offloads ProShares Strategy ETF (BITO) to Accumulate ARKB Bitcoin ETF:
Cathie Wood’s investment management firm, Ark Invest, recently sold $15.8 million worth of BITO to buy 365,427 Ark 21Shares Bitcoin ETF (ARKB) in response to market conditions.
LayerZero Integrates Monad for Seamless Cross-Chain Transfers:
Public chain Monad
