Bitcoin’s price surged Tuesday to a six-month high, climbing past $63,000 as ProShares’ much-anticipated, futures-focused exchange-traded fund (ETF) began trading on the New York Stock Exchange (NYSE). The largest cryptocurrency has climbed 33% over the past month on expectations the U.S. Securities and Exchange Commission (SEC) would approve the exchange-traded fund, which invests in futures […]
US Treasury Department Says Cryptocurrencies Could Undermine Sanctions
The U.S. Treasury Department said on Monday in a report that cryptocurrencies could undermine the effectiveness of U.S. sanctions. The report, which followed a six-month review of U.S. sanctions against countries with whom it is at odds or suspects of being behind illegal activity, noted that “digital currencies, alternative payment platforms, and new ways of […]
Analysts Divided on Prospects of Sell-the-Fact Move as Bitcoin ETF Listing Nears
There is an old saying on Wall Street: buy the rumor, sell the news. The adage is based on the belief that market participants, being forward-looking, tend to buy an asset when expecting positive information and take profit, driving the market lower on confirmation of the news. Bitcoin has rallied over 40% this month on […]
Blockchain ‘Blank Check’ SPAC Announces $100M IPO to Fund Business Combinations
Blockchain Moon Acquisition Corp (BMAC), a newly formed special purpose acquisition company (SPAC) based in Florida, has been given the green light by the U.S. Securities and Exchange Commission to list $100 million worth of shares under an initial public offering (IPO). The pricing of its IPO of 10 million units at $10.00 per share […]
Crypto 2022: Policy Week
For years officialdom wanted nothing to do with the crypto space. Whatever bitcoiners said about changing the world, policymakers largely ignored it. Even during the 2017 initial coin offering (ICO) boom, which involved plenty of money and plenty of fraud, regulators were arguably slow to react, issuing market guidance only months after the fact. Crypto […]
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