Tech
Crypto NFT Today: Week 2 of January
Welcome to another edition of Crypto-NFT today! The last two weeks have been full of unmissable events that will set the tone for the future of blockchain, cryptocurrency, and NFTs.
With eleven new bitcoin spot ETFs approved, Bitcoin prices plummet after SEC social media account hacked, and more, there’s a lot of essential news you should know. So, let’s dive in and see what’s going on!
Eleven new ETFS Spot Bitcoin approved
On January 10, the United States Securities and Exchange Commission has approved the first US-listed Exchange Traded Funds (ETFs) that track Bitcoin, marking a significant milestone for the largest cryptocurrency and the cryptocurrency industry in general.
The Securities and Exchange Commission (SEC) has given the green light to 11 requests, including those from BlackRock, Ark Investments/21Shares, Fidelity, Invesco and VanEck. This move, despite warnings about the associated risks, is expected to begin trading on January 11.
Bitcoin Falls After SEC Account Hack
Bitcoin has suffered a decline in late afternoon trading on Jan. 9 following a misleading social media post on the U.S. Securities and Exchange Commission’s X account, falsely claiming approval for bitcoin Exchange Traded Funds (ETFs). The post was quickly deleted, with the SEC clarifying that his X account had been compromised and that such approval had not yet occurred.
After initially rising to $47,901, its highest level since March 2022, bitcoin fell to $44,816.94. It ultimately traded down more than 1% at $46,162.79.
THE @SECGovern Account X was compromised and an unauthorized post was made. The SEC has not approved the listing and trading of spot bitcoin exchange-traded products.
— US Securities and Exchange Commission (@SECGov) January 9, 2024
Turkish cryptocurrency legislation is close to finalization
Mehmet SimşekTurkish Treasury and Finance Minister, shared the final stages of the project with a local press regulation of cryptocurrencies are underway.
To obtain a license from the CMB, cryptocurrency exchanges must comply with specific operational requirements, which cover aspects such as founders and managers, organizational duties, capital prerequisites and IT infrastructure obligations. Şimşek stressed that the main goal is to improve security in the cryptocurrency sectoreliminate potential risks and promote the development of blockchain technology and the cryptocurrency ecosystem.
X starts removing NFT profiles
When X introduced the feature that allows paid subscribers to display non-fungible tokens (NFTs) as hexagonal profile images in January 2022, the cryptocurrency and NFT markets were at the height of their popularity. Major brands have rushed to release NFT collections, and prices of top NFTs have skyrocketed into the millions.
Two years later, the cryptocurrency landscape has changed undergone significant changes. X has quietly removed the NFT profile picture option from its premium Blue subscription, reflecting the prevailing disenchantment with digital collectibles.