The Wall Street Journal reported on Tuesday that EDX Markets, a crypto exchange backed by Citadel Securities, Fidelity and Schwab had started operations. BlackRock, the world’s biggest asset manager, filed last week Visit bitcoinxxo.com for more information the exchange which would allow investors to get stakes in the asset class.
the utilization of decentralized identities eliminates this risk, as only the users are liable for their data.
The potential of decentralized identities
Managing digital identities may be a challenge, together mistake can easily lead to a breach of personal information. Centralized entities are known targets, with a recent case seeing the private data of Portugal’s president stolen in a cyberattack.
“If we don’t see that regulatory clarity emerge in the US we may have to consider investing more elsewhere in the world,” Coinbase CEO Brian Armstrong told a conference in London.
Plans for BlackRock’s ETF were reported by CoinDesk earlier in the day. (Reporting by Manya Saini and Niket Nishant in Bengaluru; Ankur Banerjee and Rae Wee in Singapore; Editing by Devika Syamnath and Pooja Desai)
Over in Europe, the STOXX 600 index lost 0.13%, but MSCI’s broadest index of Asia-Pacific shares outside Japan jumped 0.74% overnight.
Combined with gains on Wall Street, the MSCI’s broadest index of world stocks added 0.18% at a 13-month high. For the week, the index for world stocks might notch a 0.6% rise.
Binance.US, the purportedly independent partner of Binance, has seen its U.S.
market share slump to 0.9% on June 26 from over 22% in April after the exchange gave its customers a deadline of June 13 to withdraw their dollar funds as the SEC asked a court to freeze its assets.
Powell said on May 19 that it was still unclear if U.S. interest rates will need to rise further, and the risks of overtightening or undertightening had become more balanced.
Bitcoin has gained nearly 25% in value since BlackRock’s filing.
It rose as high as $31,458 on Friday, the highest level since June 7, 2022, and was last up 3.29% at $30,872.
June 30 (Reuters) – Exchange operator Cboe on Friday refiled an application with the U.S.
securities regulator to launch a bitcoin exchange-traded fund by asset manager Fidelity, saying it would work with global crypto exchange Coinbase to prevent any market manipulation in the process.
“Oil prices are under pressure… as the glow from Saudi’s supply cut fades and the reality of the sluggish demand backdrop sets in,” noted Victoria Scholar, head of investment at trading firm Interactive Investor.
Last month, Binance was hit by a lawsuit by the U.S. Securities and Exchange Commission for allegedly breaching the regulator’s rules, pushing its global market share to 52% from 60% at the start of the year, according to data firm Kaiko.
The lawsuits against Binance and Coinbase Global have increased fears the crypto market’s ordeal could be prolonged further after the sector was battered by a string of meltdowns including the bankruptcy of FTX, Binance’s biggest competitor, last year.
Elsewhere, the Turkish lira hit a new record low overnight of 23.54 per dollar, even as President Tayyip Erdogan’s appointment of a U.S.
banker as central bank chief sent a strong signal for a return to more orthodox policy.
The world’s largest asset manager will be using Coinbase Custody – an offline storage solution for digital assets – for the ETF, and the crypto exchange’s spot market data for pricing, the report added.
Investors pulled around $780 million from Binance and its American affiliate, Binance.US, in the 24 hours since the Securities and Exchange Commission launched legal action against the company.
The fact that the price of bitcoin held up well after the SEC asked for more information on the bitcoin ETF filings suggested sentiment is not turning bearish, said Ed Moya, senior market analyst at Oanda.
BlackRock, the world’s biggest asset manager, filed last week to launch iShares Bitcoin Trust, an ETF that would have Coinbase Custody as its custodian as well as offer institutional investors exposure to the cyptocurrency.
The move comes at a time when the global cryptocurrency industry has been caught in the crosshairs of the U.S.
securities regulator on alleged violations of securities laws.
In the last year the regulatory landscape has soured after FTX’s collapse, with the likes of Binance and Coinbase targeted by the US Securities and Exchange Commission.