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CoinShares, a European crypto investment firm, has launch ed a new hedge fund aimed at qualified U.S. investors as part of the company’s strategy to expand its geographical coverage. In a press statement, the firm said its new hedge fund division called “CoinShares Hedge Fund Solution” will be offering a diverse range of products, while CoinShares Capital, a FINRA-licensed broker-dealer, will be conducting “marketing activities.” Amid the news, CoinShares stocks on Sweden’s Nasdaq First North Growth Market jumped as much as 2.59% to 43,60 SEK ($3.90). You might also like: In addition to the hedge fund division , CoinShares also previously filed plans with the U.S. Securities and Exchange Commission (SEC) to launch two new crypto funds focusing on Bitcoin (BTC) and Ethereum (ETH) respectively. However, as Bloomberg noted, the two investment products are yet to process their first sales. In July 2023, CoinShares reported a significant i...

Also Read: Bitcoin, Ethereum To Rise Amid Positive US Fed & Inflation Data or Fall As Market Makers Exit Interestingly, the SEC Chair spoke about the need to protect investors, saying the Crypto Market s should not be allowed to harm them. In his speech, Gensler mentioned a 2018 conversation by Binance ’s then Chief Compliance Officer Samuel Lim with a colleague about how the crypto exchange is operating as an unlicensed securities exchange in the the United States . The same was included in the SEC’s recent complaint against Binance , which alleged it of lying to regulators. Gary Gensler Warns Crypto Market, Again Gensler reiterated in his opening remarks that most cryptocurrencies qualify as securities by the virtue of meeting the investment contract test. However, the SEC Chair made it a point to warn that lack of compliance could lead to more and more anti-crypto enforcement actions. He said, “not liking the message is not the same thing as not receiving i...

Data center operator US Bitcoin Corp (USBTC) has announced it will host 8,500 Bitcoin miners from the insolvent crypto lender Celsius at its Alpha Site.  A press statement on Aug. 31 revealed that the miners are expected to have an estimated hashrate of 820 petahash (PH). The hosting arrangement is part of a more significant deal that could see USBTC managing as many as 310,000 Bitcoin (BTC) miners . These miners would belong to Celsius and other clients like Teslawatt, Foundry USA, Marathon Digital, Decimal Group, and Sphere 3D. In May, USBTC, in collaboration with other partners in the Fahrenheit LLC consortium, won the auction to manage Celsius assets. These assets comprise a lending portfolio and approximately 122,000 mining machines. You might also like: Hut 8 receives a $50m loan from Coinbase’s subsidiary USBTC will manage the bankrupt lender’s mining division and play a key role in setting up and operating a 100-megawatt Bitcoin mining facility. Whe...

Vivek Ramaswamy, a pro-crypto US presidential candidate, applauded the court’s ruling to favor Grayscale. He sees the victory as a watershed moment for the US web3 space. In his recent tweet, Ramaswamy criticized the overreach of U.S. regulatory watchdogs, arguing that the court’s ruling now paves the way for domestic Bitcoin (BTC) and blockchain advancement.  Ramaswamy has vowed to eliminate federal regulations that don’t meet the standard set by the Supreme Court’s test, which he believes would foster innovation while keeping it on home soil. The shadow government in D.C. is out of control & the federal courts are our *only* remaining line of defense against the unlawful rogue behaviors of 3-letter government agencies. This decision is strong and clears a path to keep Bitcoin & blockchain innovation in the U.S.… https://t.co/FsykKyQEVG — Vivek Ramaswamy (@VivekGRamaswamy) August 30, 2023 Tesla CEO Elon Musk recently praised Ramaswamy’s appro...

Also Read: Robinhood Wallet Now Supports Bitcoin, Dogecoin; Ethereum Swaps Enabled advertisement Armstrong also talked about an upcoming event organized by Coinbase later this year in Malibu, designed to ignite the passion of builders within the crypto ecosystem in his Tweet. The post is a homing light for builders to create new start-up ideas and inspires hungry entrepreneurs looking to leave a mark in the crypto industry. Flatcoin Armstrong starts his ideas with Flatcoin, a groundbreaking digital currency designed to address the volatility and inherent risks of fiat-backed stablecoins. He recognizes the limitations of current stablecoins, which are pegged to traditional currencies and vulnerable to inflation and abrupt price shifts. Flatcoin proposes a decentralized solution, pegging its value to the Consumer Price Index (CPI), a basket of essential goods. Flatcoin holds the potential to mitigate inflation risks and offer a more reliable medium of exchange. A...

Also Read: Elon Musk Hails Vitalik Buterin’s Insights on “Community Notes”\ advertisement Earlier, the US SEC was taken to Court by Coinbase to address the issue of whether it was willing to give clarity on the rulemaking for the industry. With the latest CFTC license approval to offer regulated crypto derivatives, the onus is now on the agency to provide the much needed relief surrounding the regulatory fear, uncertainty and doubt (FUD). In this context, Armstrong stated that the market participants are willing to register if there is actually a clear path to do so. Coinbase CEO: Major Moment The CEO said the CFTC approval marks a huge milestone for the Crypto Market in terms of clarity. Meanwhile, the general market perception is that in the next 12 months, the US SEC could finally open doors for institutional Bitcoin exposure via spot ETFs. “Major moment for crypto regulatory clarity in the U.S. This has been a multi-year pr...

Also Read: XRP Price Analysis : Will $XRP Price Hit $0.55 Milestone in Coming Week?  advertisement In the first week of June 2023, the crypto ecosystem suffered one of the largest enforcement actions with back to back lawsuits against crypto exchanges Coinbase and Binance. The top two exchanges were charged with violation of securities laws. Gary Gensler Resignation? Based on the initial reaction to the rumor of Gensler’s leaving SEC, it would have been a major crypto rally if the news were true. Crypto influencer Ben Armstrong confirmed that the resignation news just a rumor. He said the SEC Chair may not resign at all if he wishes to leave in near furture, indicating pssibility of Gensler’s new role and capacity outside of the SEC. “Gensler resigning is almost definitely false. If he ends up leaving soon, it more than likely won’t be a resignation.” Recommended Articles ...

At the Bitcoin Builders Conference, Daniel Fogg from IOV Labs and Rootstock spoke with Cointelegraph about how emerging markets are shaping the future of the crypto space. Mass crypto adoption is already taking place around the world, but not in the United States or Europe, nor does it have Bitcoin as a flagship asset for mainstream acceptance. According to Daniel Fogg of smart contract platform Rootstock, the increase in adoption is instead ongoing in emerging markets, where cryptocurrencies are offering solutions to people’s everyday problems.  In an interview with Cointelegraph’s Joe Hall at the Bitcoin Builders Conference in Miami, Fogg spoke about Bitcoin pragmatism, adoption worldwide and how emerging economies are shaping the future of the crypto space. Joe Hall and Daniel Fogg at the Bitcoin Builders Conference 2023. Source: Cointelegraph According to Fogg, emerging markets are leading the way in crypto adoption for one major reason — countries that have significant macr...

A U.S. Representative has declared he will introduce legislation to have SEC boss Gary Gensler removed from his role. Securities and Exchange Commission (SEC) chair Gary Gensler could be facing unemployment after United States Representative Warren Davidson declared he would introduce legislation to fire the SEC boss. In an April 15 tweet responding to Coinbase’s legal chief, Paul Grewal, the crypto-friendly Representative announced his intention to have Gensler removed from his role after the SEC's latest announcement about revisiting the proposed redefinition of an "exchange." "To correct a long series of abuses, I am introducing legislation that removes the Chairman of the Securities and Exchange Commission and replaces the role with an Executive Director that reports to the Board (where authority resides)," Davidson tweeted. Yep. To correct a long series of abuses, I am introducing legislation that removes the Chairman of the Securities and Exchange Commiss...

One of the biggest factors harming Ethereum's credible neutrality is the use of censoring MEV relays by crypto ecosystems and exchanges. For most crypto ecosystems, being compliant with federal Sanctions have a negative impact on its global reach. However, when it comes to Ethereum, investors have significant power to decide the degree of compliance the ecosystem obeys. Nearly 60% of all post-Merge Ethereum blocks comply with the United States Sanctions put forth by the Office of Foreign Assets Control (OFAC). While the crypto community stands against this transformation, many fail to realize their own contribution to helping Ethereum attain total OFAC compliance. One of the biggest factors harming Ethereum's credible neutrality is the use of censoring MEV relays by crypto ecosystems and exchanges . Miner extractable value (MEV) relays work as a mediator between block producers and block builders, which are being used by prominent crypto players, such as Binance, Celsius Netwo...