Zigzag777 Archives

BlackRock’s iShares Files Paperwork for Spot Bitcoin ETF

The SEC has rejected numerous attempts by other fund companies to launch a spot bitcoin ETF.

The iShares unit of fund management giant BlackRock (BLK) filed paperwork Thursday afternoon with the U.S. Securities and Exchange Commission for the formation of a spot bitcoin (BTC) ETF.

To be named the iShares Bitcoin Trust, the fund’s assets are to “consist primarily of bitcoin held by a custodian on behalf of the Trust,” according to the filing.

CoinDesk earlier on Thursday reported on BlackRock’s intention to soon file for a bitcoin ETF.

Though approving a number of futures-based bitcoin ETFs, the SEC has notably rejected other fund management company attempts at opening a spot bitcoin ETF, including those from Grayscale, VanEck, and WisdomTree.

Merhaba arkadaşlar, bugün sizlere Prizmabet adlı bir bahis sitesinden bahsedeceğim. Prizmabet, Betconstruct altyapısı ile üyelerine kaliteli hizmetler veren ve ülkemizin önde gelen bahis sitelerinden bir tanesidir. 2009 yılında kurulan Prizmabet, lisanslı, güvenilir ve avantajlı bir site olarak dikkat çekmektedir. Prizmabet’te spor bahisleri, canlı bahisler, casino, canlı casino, slot oyunları, sanal sporlar ve daha pek çok seçenek bulabilirsiniz. Prizmabet’te oyun oynamak için aradığınız ortamı fazlası ile bulacaksınız.

Prizmabet’in en önemli özelliklerinden biri de Prizmabet TV kanalıdır. Bu kanal sayesinde bahis sitesinde bulunan müsabakaları üyeler bir ücrete katlanmadan istedikleri zaman takip edebiliyor. Böylece hem heyecanlı hem de kazançlı bir bahis deneyimi yaşayabiliyorsunuz. Prizmabet TV kanalında futbol, basketbol, tenis, voleybol gibi popüler spor dallarının yanı sıra daha az bilinen sporlara da yer verilmektedir. Prizmabet TV kanalını kullanmak için sadece siteye üye olmanız ve yatırım yapmanız yeterlidir.

Prizmabet ayrıca üyelerine bol miktarda bonus ve promosyon da sunmaktadır. Prizmabet’te ilk üyelik bonusu olarak 100 TL deneme bonusu alabilirsiniz. Bunun yanında yatırım bonusları, kayıp bonusları, arkadaş davet bonusu, doğum günü bonusu gibi farklı bonuslar da mevcuttur. Prizmabet bonusları sayesinde daha fazla oyun oynayabilir ve kazancınızı artırabilirsiniz. Prizmabet bonuslarının çevrim şartları da oldukça makul seviyededir.

Prizmabet para yatırma ve çekme işlemleri konusunda da üyelerine kolaylık sağlamaktadır. Prizmabet’te banka havalesi, kredi kartı, papara, cepbank, QR kod, bitcoin gibi farklı yöntemlerle para yatırabilir ve çekebilirsiniz. Para yatırma ve çekme işlemleri 7/24 yapılabilmekte ve kısa sürede hesaplara yansımaktadır. Prizmabet para yatırma ve çekme işlemlerinde herhangi bir komisyon veya kesinti de yapmamaktadır.

Prizmabet müşteri hizmetleri de üyelerine 7/24 canlı destek hizmeti sağlamaktadır. Prizmabet canlı destek ekibi sayesinde site ile ilgili her türlü soru, sorun veya önerinizi iletebilir ve anında çözüm bulabilirsiniz. Prizmabet canlı destek ekibi profesyonel, güler yüzlü ve yardımseverdir.

Sonuç olarak, Prizmabet ülkemizin en iyi bahis sitelerinden biri olarak gösterilebilir. Prizmabet’te hem eğlenceli hem de kazançlı bir bahis deneyimi yaşayabilirsiniz. Prizmabet’e üye olmak için güncel giriş adresini web sitemizden bulabilirsiniz. Prizmabet’e girmek için tıklayınız! Prizmabet’e katıldığınıza pişman olmayacaksınız!

Bitcoin Jumps Past $25.7K After BlackRock iShares ETF Filing

The largest cryptocurrency rose more than 1.3% in the hour after the announcement.

Bitcoin jumped past $25.700, a more than 1.3% gain, in the hour after the iShares unit of fund management powerhouse BlackRock (BLK) filed paperwork Thursday afternoon with the U.S. Securities and Exchange Commission (SEC) for the formation of a spot bitcoin (BTC) ETF.

Bitcoin dipped below $25,000 just a day earlier for the first time in three months and spent most of Thursday prior to the BlackRock announcement hovering just over that threshold. BTC’s price has sunk amid concerns about U.S. central bank hawkishness and increasing U.S. regulatory scrutiny of the crypto industry.

But the BlackRock announcement rekindled optimism about the possibility of a spot bitcoin ETF, even after the SEC has rejected multiple applications over the past 18 months.

To be named the iShares Bitcoin Trust, the fund’s assets are to “consist primarily of bitcoin held by a custodian on behalf of the Trust,” according to the filing. That custodian will by crypto exchange Coinbase (COIN), said the filing.

CoinDesk earlier on Thursday reported on BlackRock’s intention to soon file for a bitcoin ETF.

Do Kwon to Remain in Custody While Montenegro Courts Consider Extradition Request: Report

Courts in the country approved bail for the Terraform Labs founder, but a South Korean extradition request is set to keep him in jail.

Terraform Labs co-founder Do Kwon is to remain in Montenegro custody for six months while the country’s courts consider an extradition request from South Korea, local news outlet RFE reported on Thursday.

The report, later confirmed by DL News, followed a high court announcement on the approval of bail for a case involving document forgery. Kwon’s bail request was approved after a previous rejection by the same court.

In March, the South Korean national was arrested in Montenegro over the alleged possession of falsified documents along with fellow Terra executive Han Chang-Joon. South Korean officials were already searching for Kwon, and following his arrest, the country requested Kwon’s extradition, as did the U.S. Kwon also faces possible jail time in Montenegro over the document forgery case.

Kwon and Han are due to appear in a Montenegro court on Friday.

Curve Finance CEO Egorov Sued by Three DeFi-Focused Venture Capital Firms

A complaint filed in San Francisco alleges Egorov defrauded ParaFi Capital, Framework Ventures and 1kx.

Michael Egorov, the CEO of decentralized finance (DeFi) firm Curve Finance, is being sued for fraud by venture capital firms ParaFi Capital, Framework Ventures and 1kx in the U.S.

A complaint filed in the Superior Court of California, San Francisco, alleges Egorov misappropriated trade secrets of the three VC firms, and defrauded the firms out of close to $1 million in funds while dangling the false promise of a possible stake in Curve to gain the investors’ trust and support.

The lawsuit, filed in April, also alleges that Egorov moved to Switzerland to insulate himself from the inevitable legal fallout. The three firms have been pursuing a breach-of-contract case in Switzerland against Egorov and his company Swiss Stake since 2020.

Curve Finance, a decentralized exchange built on the Ethereum blockchain, ranks among the biggest DeFi trading platforms, with some $4.07 billion in total locked value, according to DeFi Llama. Curve operates in the form of a decentralized autonomous organization (DAO), controlled by the CRV token, which can be bought or earned by contributing to Curve’s liquidity pools.

Beginning in early 2020, Framework Ventures, ParaFi Capital and 1kx claim that Egorov “engaged in a brazen, multi-faceted scheme to defraud” them over a six-month period, according to the complaint. The VCs also allege Egorov “misappropriated” the firms’ “trade secrets,” including “information that proved to be critical to the development of Curve, such as key industry contacts, potential investors, and knowledge of how to manage an investment round – all while falsely promising that Plaintiffs would benefit from the fruits of their labor, not just Egorov.”

The VC’s also claim Egorov offered to sell shares of Swiss Stake to Plaintiffs for close to $1 million (alleging that a combined $925,233.54 worth of USDC was sent to a wallet specified by Egorov), but had no intention of transferring shares of Swiss Stake to the firms.

Egorov’s lawyers said in May 22 filing that the allegations of fraud derive from the termination of a contract between the VCs and Swiss Stake, and that the “trade secrets” in question were really the names of widely known investors. Egorov’s side also claims Swiss Stake promptly offered to return the roughly $1 million of invested funds.

“To justify their blatant forum shopping, Plaintiffs concocted a new and compelling story painting Egorov as an evil villain who duped three naïve VC firms into giving up ‘trade secrets,’” according to a May 22 filing by Egorov’s lawyers. The case against Egorov amounts to “nothing more than a clever narrative,” his attorneys said.

Law firm Latham & Watkins, representing the three VC firms provided CoinDesk with a statement via email: “It is regrettable this has reached the point of litigation, but we strongly believe the facts are on our side. In that respect, the complaint speaks for itself. Our clients are resolved to seek full accountability of Michael Egorov for his behavior.”

Egorov’s lawyers, DLA Piper, had not responded to an emailed request for comment by press time.

Ether Options Market Makers Are ‘Long Gamma’ at $1.8K

Traders said market makers are holding options with a $1,800 strike price and are likely to influence prices as they try to keep their portfolios direction-neutral.

Ether (ETH), the second largest cryptocurrency by market value, has been largely locked in a narrow price range around $1,800 since mid-May and is unlikely to move much in the short term, market makers’ positions in the options market indicate.

That’s because the market makers, the dealers tasked with providing liquidity to an exchange’s order book and who are always on the opposite side of investors’ bets, are forced to hedge their options exposure through offsetting positions in the spot or futures market in order to run a market-neutral, or delta-neutral, portfolio. Their so-called delta hedging actions as the underlying asset moves can influence the spot market price and are known to arrest price swings.

According to Jeff Anderson, a senior trader at STS Digital, market makers are currently stuffed with what’s known as long gamma positions in the $1,800 strike price ether options due to expire on June 30. Market makers are said to be long gamma at a particular price level when they have bought options at that level.

“So, as we go higher, market makers will likely sell ETH. On the flip side, market makers would buy the cryptocurrency on price dips,” Anderson told CoinDesk. “So, the spot price could stay close to $1,800.”

Options are contracts that give the purchaser the right, but not the obligation, to trade the underlying asset at a predetermined price on or before a specific date. A call option gives the right to buy while put the put option offers the right to sell. Being long gamma means holding a buy position in call or put options.

The long gamma positioning forces market makers to snap up the underlying asset when the price falls below the said level to keep the overall portfolio market-neutral. Similarly, they sell the asset when the price rallies. Gamma refers to the rate of change in options delta per one-point move in the underlying asset.

Griffin Ardern, a volatility trader from crypto asset management firm Blofin, said the delta hedging by market makers could strongly influence the spot price.

“Considering the lack of enthusiasm among futures and perpetual futures traders right now, the impact of market maker hedging could be significant,” Ardern said.

Mt. Gox’s Hackers Are 2 Russian Nationals, U.S. DOJ Alleges in Indictment

One of the individuals also operated BTC-e, the DOJ alleged.

The U.S. Department of Justice charged Russian nationals Alexey Bilyuchenko and Aleksandr Verner with hacking Mt. Gox in 2011, at the time one of the biggest thefts in the crypto industry.

The two “gained unauthorized access” to Mt. Gox’s wallets around September 2011, the DOJ said in a press release Friday announcing the unsealing of a 2019 indictment, stealing 647,000 over the course of nearly three years. These funds were then laundered.

The DOJ alleged that Bilyuchenko was also an operator of defunct crypto exchange BTC-e, alongside Alexander Vinnick who was previously charged with operating BTC-e.

Both face charges of conspiracy to commit money laundering, while Bilyuchenko also faces a charge of operating an unlicensed money services business. The DOJ’s Southern District of New York and Northern District of California offices both brought cases tied to the Mt. Gox hack.

In a statement, DOJ Assistant Attorney Kenneth Polite said, “This announcement marks an important milestone in two major cryptocurrency investigations. As alleged in the indictments, starting in 2011, Bilyuchenko and Verner stole a massive amount of cryptocurrency from Mt. Gox, contributing to the exchange’s ultimate insolvency. Armed with the ill-gotten gains from Mt. Gox, Bilyuchenko allegedly went on to help set up the notorious BTC-e virtual currency exchange, which laundered funds for cyber criminals worldwide. These indictments highlight the department’s unwavering commitment to bring to justice bad actors in the cryptocurrency ecosystem and prevent the abuse of the financial system.”

Ethereum’s Buterin Releases Roadmap Addressing Scaling, Privacy, Wallet Security

In his blog post, Buterin says the network needs to address these components simultaneously; otherwise the blockchain could fail.

Ethereum co-founder Vitalik Buterin laid out a new roadmap for the network to follow over the next few years, arguing that the world’s second-biggest blockchain should push forward on key goals of layer 2 scaling, wallet security and privacy in a coordinated fashion.

In a blog post titled “the Three Transitions,” Buterin wrote that the technical transitions need to be addressed simultaneously, to maintain key components of the protocol while providing a “global and permissionless experience to average users.”

“These three transitions are crucial,” Buterin wrote in the blog post. “But they are also challenging because of the intense coordination involved to properly resolve them.”

Layer 2 scaling

The first component, layer 2 scaling, is crucial as Buterin argues that if Ethereum fails on this front, “every product aiming for the mass market inevitably forgets about the chain and adopts centralized workarounds for everything.”

Ethereum has seen massive growth over the past few months in terms of the number of layer 2 networks, with ZK rollups released by Polygon and Matter Labs.

Ethereum is set later this year to undergo a major upgrade known as Dencun thatwill include a technical feature known as proto-danksharding, aiming to help make rollups cheaper.

Crypto wallet security

The second component, wallet security, which involves moving all users wallets over to smart contract wallets, Buterin argues is needed so that users are comfortable with storing their cryptocurrency payments and data on-chain, otherwise they move over to centralized entities.

Privacy

Buterin also suggests that the final component, privacy, is crucial otherwise “Ethereum fails,” as users will have all their on-chain activity visible to the public.

“It’s not just features of the protocol that need to improve; in some cases, the way that we interact with Ethereum needs to change pretty fundamentally, requiring deep changes from applications and wallets,” Buterin writes.

Read more: Ethereum’s Buterin Proposes ‘Stealth Addresses’ to Enhance Privacy Protections

Crypto.com Winding Down U.S. Institutional Business

The move won’t affect the company’s retail operations.

Singapore-based crypto exchange Crypto.com will no longer be offering its services to institutional clients in the U.S., effective June 21, the company announced Friday.

The exchange cited “limited demand” from institutional customers in light of the “current market landscape.”

Retail investors will not be impacted by this decision, said the firm, and will continue to be able to use the platform in the U.S., including Crypto.com’s CFTC-regulated UpDown Options.

The decision comes in the same week as crypto exchanges Binance and Coinbase were sued by the U.S. Securities and Exchange Commission (SEC) on allegations that they have violated securities laws.

Bitcoin Payments Firm Strike Moves Custody In-House After Ditching Third-Party Services

The move is a “culmination of over two years of effort,” according to Strike CEO and cofounder Jack Mallers.

Digital payments firm Strike has moved all customer bitcoin (BTC) and U.S. dollar (USD) assets to its own in-house infrastructure, according to a June 8 blog post by CEO and cofounder Jack Mallers.

Mallers says the move is part of a two-year effort and will reduce counterparty risk while ensuring the robustness and performance of the company’s products and services. His announcement comes in the wake of bankruptcy rumors about Strike’s former custodian, Prime Trust, which has agreed to sell itself to digital asset custody rival BitGo. Fellow Bitcoin financial services firm Swan Bitcoin also recently abandoned Prime Trust.

Strike declined to comment on the situation surrounding its former custodian, emphasizing that its plan to move custody in-house has been two years in the making. The company’s customer base, spread across more than 65 countries, will now custody bitcoin and fiat directly with Strike.

“I’m proud to announce Strike now owns and operates all of its own infrastructure for customers,” Mallers wrote. “Strike now custodies customer bitcoin and dollars, which means no custodial intermediaries between us and our users.”

Benefits of the transition

Mallers says the transition to in-house custody brings short and long-term benefits to users.

“Because of our infrastructure enhancements, we’ve begun rolling out a lot of awesome new features and capabilities that are now live,” Mallers explained.

Strike users can now send bitcoin directly to other users on a peer-to-peer basis. They can also opt to receive funds as cash or bitcoin. Bitcoin payments can be made directly on-chain or via the Bitcoin Lightning Network – a second layer payment system for cheaper and faster bitcoin transactions.

Deposit limits have been increased and on-chain payments are now tiered, allowing users to pay higher fees for faster payments and lower fees for slower, less urgent transactions.

The 29-year-old says his company has “some serious ambitions” in the long-term.

“Global on/off ramps, instant withdrawals, new DCA [dollar cost averaging] capabilities, continuing to improve our limits, more cross-currency capabilities, and more things we hope to bring soon,” Mallers said.

Binance’s BNB Token Saw Millions in Sell Orders Right Before SEC Lawsuits

In the first nine hours of June 5, BNB’s open interest increased nearly $30 million.

In trading, timing is everything and it appears that some traders put in well-timed sell orders for BNB tokens, ahead of the massive SEC crackdown against crypto exchange Binance on June 5.

A surge in aggregated sell orders of about 125,000 BNB worth $37 million hit the BNB/USDT order book on Binance at 11:45 p.m. UTC on June 4 and 1:45 am UTC on June 5 in the lead-up to the U.S. Securities and Exchange Commission (SEC) suing Binance, data from TradingView shows.

BNB’s open interest, the total number of outstanding derivative contracts held by investors, also increased in the first nine hours of June 5 by nearly $30 million, according to Coinalyze, which also occurred before the 11:15 am news of the SEC alleging Binance commingled customer funds and operated an unregistered securities exchange.

A rise in open interest indicates new traders entering and creating new positions in the market, instead of closing existing positions.

The price of BNB, the native token for the Binance ecosystem that the SEC says is a security, dropped more than 9% from $300 to $272 in the hour following SEC’s crackdown against Binance on Monday.

Crypto traders who bet that the price of Binance’s BNB token would decrease before June 5 at 11:15 am, have profited heavily from the price action of BNB following the reveal of SEC’s lawsuit against the largest crypto exchange by trading volume.

An SEC spokesperson did not return a request for comment on the trades made before the SEC lawsuits against the crypto exchange.