Category: Crypto market

BitMine ETH Holdings Keep Soaring As BMNR Stock Keeps Falling – Can $40 Hold?

Posted on by Skerdian Meta

BitMine Immersion Technologies’ stock is falling as sentiment is affected by cryptocurrency volatility, even if the company has created one of the largest Ethereum treasuries globally. Continue reading “BitMine ETH Holdings Keep Soaring As BMNR Stock Keeps Falling – Can $40 Hold?” →

Nasdaq’s VivoPower Bets Big on XRP with $30 Million Yield Strategy

Posted on by Olumide Adesina

VivoPower, a Nasdaq-listed company, has entered the XRP finance industry with a $30 million treasury investment through Doppler Finance.

This marks the first phase of a larger $200 million fund allocation plan. This move makes the energy solutions firm one of the first publicly traded companies to adopt an institutional framework for earning returns on XRP reserves.

Doppler emphasized that the program will focus on qualified custody, segregated accounts, and real-time POR to establish consistent risk management in XRP-based finance when it announced the partnership on September 2.

The company intends to deploy $30 million initially as part of a broader $200 million total allocation.

Its approach is distinctive amid its institutional-grade architecture, qualified custody, segregated accounts, and Proof-of-Reserves verification

VivoPower’s CEO and executive chairman, Kevin Chin, stated that the company views XRP as a “cornerstone treasury asset” and highlighted the strategic importance of South Korea, which is estimated to hold about 20% of the world’s XRP supply. Doppler, a key player in South Korea’s market, will provide the programmable infrastructure for this initiative.

The Ripple ecosystem is currently gaining traction at the time of this development. While industry participants debate the possibility of a spot-based exchange-traded fund, Gemini recently introduced a credit card with XRP rewards.

Additionally, according to data from RWA, the market valuation of the XRP Ledger has grown significantly, from roughly $130 million in June to $320 million by late August. This growth is especially noticeable in the real-world asset (RWA) tokenization sector.

Polymarket Gets Regulatory Greenlight for US Launch

Posted on by Olumide Adesina

Polymarket, the crypto-based prediction market, received the necessary regulatory approvals to launch in the United States after obtaining another crucial component from a top regulator, according to its CEO, Shayne Coplan.

FBI Raids Polymarket CEO's Home in Post-Election Investigation

The exchange, which recently acquired QCX—whose application was approved by the CFTC in July—was granted a no-action letter by the Commodities Futures Trading Commission today, allowing Polymarket to bypass swaps data reporting and record-keeping requirements.   Coplan stated that the action gives Polymarket “the green light to go live in the USA.”

These letters are common in prediction markets, which trade swaps based on the outcomes of specific events, such as changes in interest rates, elections, or sports teams’ wins

According to the letter, the agency’s employees will not suggest that the exchange face enforcement action for failing to execute the reporting. Operating a prediction market without such a letter can quickly become expensive because swap transaction reports can be costly.

The Department of Justice and the CFTC both concluded their investigations into whether Polymarket allowed US-based traders to use its platform despite a consent decree with the markets regulator from 2022.

Polymarket will enter the US market as a competitor to CFTC-regulated exchanges like Kalshi and Crypto.com with the acquisition of QCX and the additional agency approvals. Democratic CFTC Commissioner Kristin Johnson emphasized that the agency has an “urgent need” to act.

Bank of England plans to Regulate Stablecoin in UK

Posted on by Olumide Adesina

Bank of England Deputy Governor Sarah Breeden said stablecoins transfer money faster and cheaper as the British central bank prepares to announce its plans to regulate them.

Bank of England - Monetary Policy

Breeden said on Wednesday she expects a “multi-money” world to emerge that includes stablecoins. The Trump administration’s landmark legislation to normalize stablecoins has increased interest.

Their safe adoption could allow for faster settlement since they are a form of ‘digitally native’ money, cheaper settlement for cross-border transactions, and permit trading of tokenised securities.

The BOE is planning to launch consultations on its revised plans for stablecoin regulation later this year. It is softening its approach after the industry warned its original position was too tough

Breeden’s comments suggest a more positive stance toward stablecoins after Governor Andrew Bailey warned they risk undermining public trust in money.

Stablecoins are made to maintain a constant value in contrast to other cryptocurrencies like Bitcoin, which are known for their price volatility. Most of the time, they are linked to another currency.

Breeden reaffirmed the BOE’s revised policy for systemically important stablecoins, which would permit some of the underlying assets to earn interest. “I envision the UK payments landscape as a ‘multi-money’ mixed ecosystem, where various money types each serve a specific purpose and maximize usefulness for UK households and businesses,” she stated.

Ripple Bulls Ready to Soar with Q4 XRP ETF Approval

Posted on by Olumide Adesina

Ripple (XRP) held above a crucial support level boosted by inflows in the crypto market. Optimism for the fourth-quarter approval of Exchange Traded Funds (ETFs) supports a breakout above the psychological $3 level.

XRP Eyes $5 Target Soon as Institutional Access Expands

The NASDAQ, NYSE Arca, and Cboe’s BZX exchange submitted 19b-4 forms to the US Securities and Exchange Commission (SEC) proposing modifications to the existing listing requirements for crypto ETFs. A surge in capital entering already-existing Ethereum (ETH) and Bitcoin (BTC) spot ETFs accompanied the July 30 filings. ,

XRP and Cardano (ADA) must have been trading on a designated contract market (DCM) for six months to meet the new listing requirements on September 20 and October 1, respectively.

The remittance token may be eligible for the expedited listing process, which would greatly raise the likelihood that the SEC will approve the ETF. Its legitimacy as an asset class could be strengthened and the bullish argument reinforced by exposure to alternative capital sources.

SEC is retaining over 90 crypto ETF proposals, creating a burdensome backlog. SEC has historically extended the ETF approval process to a maximum deadline of 240 days, which has significantly delayed new listings.

However, in light of the growing number of applications for crypto ETFs, the SEC could speed up the approval process with the proposed rule change. A three-condition listing criterion is the outcome of Cboe’s proposed rule changes for the NASDAQ, NYSE Arca, and BZX exchanges.

Bulls aim for a breakout above the psychological resistance at $3, but the price of XRP is still above the 100-day Exponential Moving Average (EMA) support at $2.8. The short-term bullish outlook is supported by a reversal of the Relative Strength Index (RSI) at 40 on the daily chart.

Gemini Files for Nasdaq IPO to Bolster Crypto Growth

Posted on by Olumide Adesina

Gemini plans to issue roughly 16.7 million of its Class A common shares, according to a Form S-1 filing made with the SEC on Tuesday. The company, founded by Cameron and Tyler Winklevoss, announced that it would list on the NASDAQ under the ticker symbol GEMI.

Cantor Fitzgerald, Citigroup, Morgan Stanley, and Goldman Sachs are serving as the deal’s primary bookrunners.

Bookrunners for the transaction will include Evercore ISI, Mizuho, Truist Securities, Cohen and Company Capital Markets, Keefe, and Bruyette & Woods, among other financial institutions.

Gemini stated that the offering is subject to market and other conditions, and that it cannot guarantee the precise size or terms of the sale; however, it did not specify when it is expected to end

Bookrunners were given a 30-day window from the filing date on Tuesday to buy up to an extra 2,396,348 and 103,652 shares of Class A common stock at the IPO price, according to the company and its selling shareholders. Gemini anticipates that its stock will be sold.

Circle, Coinbase, eToro, and Gemini hope to become one of the many publicly traded cryptocurrency companies in the United States. After declaring that it had secretly submitted an IPO application to the SEC, the company confirmed a public listing in June. However, after Gemini announced plans to list on the NASDAQ, additional information about the IPO was made public in August.

The recent surge in cryptocurrency initial public offerings (IPOs) has occurred after a significant change in the regulatory environment surrounding digital assets since President Donald Trump’s return to office. Following a change in the agency’s leadership, the SEC withdrew a Wells notice from several cryptocurrency companies, including Gemini.

 

Coinbase (COIN) Unveils Trading for Apple, Microsoft, Alphabet, Amazon, Nvidia

Posted on by Olumide Adesina

Coinbase (COIN) plans to introduce Crypto Equity Index Futures amid exposure to BlackRock’s cryptocurrency exchange-traded funds (ETFs) and the Magnificent 7 tech stocks. Coinbase announced that it will launch a new futures index combining traditional stocks and cryptocurrency products.

Coinbase Q1 earnings highlight the day

The first product offering combined exposure to stocks and ETFs is the Magnificent 7 Crypto Equity Index Futures, scheduled for launch on September 22. For the first time, Coinbase stated, its US derivatives platform will offer more than just single-asset products.

According to Coinbase, “no US-listed derivative has historically offered access to both equities and cryptocurrencies within a futures product.”

The Magnificent 7 + Crypto Equity Index Futures, each with an equal weight of 10%. It includes the Magnificent 7 stocks—Apple, Microsoft, Alphabet, Amazon, Nvidia, Meta, and Tesla—as well as COIN from Coinbase, iShares Ethereum Trust (ETHA), and iShares Bitcoin Trust (IBIT) from BlackRock.

Coinbase added that to ensure all components are equally weighted, the new index will be rebalanced quarterly.

The review process will adjust them, while allocations may fluctuate due to price changes, the exchange stated. It also noted that the index administrator will be MarketVector Indexes, a German firm. This move aligns with Coinbase’s recent strategy to expand its product range. Reports indicate that the company announced plans to launch tokenized stocks in the US in June, joining firms like Robinhood and Kraken.

Cardano: Charles Hoskinson Pushes for XRP Synergy

Posted on by Olumide Adesina

Charles Hoskinson discussed how blockchain networks, like XRP, could collaborate. He said, “I would also like three to five clients to be horizontal, meaning they can start competing within 12 to 24 months,” to meet all the needs of Bitcoin DeFi and XRP DeFi.

Cardano aims to enable multiple ecosystems to coexist peacefully, encouraging competition and cross-chain functionality in decentralized finance. Hoskinson added that, despite past criticism from communities, collaboration across different blockchains has been crucial to his strategy.

“There are many people we work with, including other ecosystems, who have contributed to some of the slander,” he said. The midnight airdrop was available to Bitcoin, Ethereum, Solana, Avalanche, and XRP, with XRP receiving the most attention.

Cardano’s founder also acknowledged that his relationship with Ripple’s leadership is evolving. Considering past issues, we are now friends. At a roundtable with the Federal Reserve at the SALT conference in Jackson, I was just with Brad Garlinghouse. We got along really well and decided that we needed to talk more, Hoskinson stated

. “That’s maturity about these things,” he added. “You must possess that.” That is our current stance. These comments show a shift in tone from the once aggressive stance of the Cardano and Ripple projects. The mention of direct discussions with Ripple CEO Brad Garlinghouse indicates that leadership is now considering practical collaboration.

Hoskinson’s tweet portrays XRP and Cardano as potential partners in a changing environment where cooperation might be just as important as competition, as he openly recognizes improved relations with Ripple and emphasizes the need for collaboration.

Can the ETH Bet Save BitMine Immersion Tech After 17% BMNR Stock Drop?

Posted on by Skerdian Meta

BitMine Immersion Technologies has expanded its Ethereum treasury to record levels, but sharp volatility and renewed selling pressure have left investors questioning whether BMNR can stabilize after last week’s steep losses. Continue reading “Can the ETH Bet Save BitMine Immersion Tech After 17% BMNR Stock Drop?” →

Forex Signals Brief Sept 2: ECB’s Attention Is on Eurozone Inflation Today

Posted on by Skerdian Meta

Markets saw a muted start to the week, with light economic data and holiday-thinned trade, but attention is now shifting to Eurozone inflation figures and fresh PMI signals across regions. Continue reading “Forex Signals Brief Sept 2: ECB’s Attention Is on Eurozone Inflation Today” →