TL;DR Breakdown BlackRock’s spot Bitcoin ETF application was included in the SEC’s Nasdaq stock market proposed rulemaking filings on July 13. BlackRock’s late June Bitcoin ETF amendment prompted the move. According to SEC officials, BlackRock and other asset managers’ first ETF applications needed to be increased. Description The U.S. Securities and Exchange Commission (SEC) has approved Blackrock’s application for a bitcoin exchange-traded fund (ETF). The move shows that the regulator is preparing to consider a bitcoin ETF seriously. This could finally pave the way for more people to buy and use crypto assets and products. SEC reviews BlackRock Bitcoin ETF The U.S. … Read more The U.S. Securities and Exchange Commission (SEC) has approved Blackrock’s application for a bitcoin exchange-traded fund (ETF). The move shows that the regulator is preparing to consider a bitcoin ETF seriously. This could finally pave the way for more people to buy and use crypto assets and products. SEC reviews BlackRock Bitcoin ETF The U.S. securities regulator has approved Blackrock’s request for a spot bitcoin ETF. Once it’s in the Federal Register, the SEC will…

TL;DR Breakdown According to the Blockchain Council of the Philippines President Donald Lim, blockchain and Web3 projects have an “opportunity to flourish” in the Philippines. Axie Infinity, a play-to-earn (P2E) blockchain game, shot to fame in the Philippines in 2021. Clear laws boost confidence in blockchain technology’s non-digital applications. Scams and the digital gap are challenges, but technology will advance. Description The Philippines has joined the rest of Asia in crypto adoption. Cryptocurrencies have entirely changed how we think about money and how traditional financial systems operate. The Philippines has established itself as a prospective player in the crypto industry, and the Blockchain Council there has been instrumental in promoting the uptake and comprehension of these … Read more The Philippines has joined the rest of Asia in crypto adoption. Cryptocurrencies have entirely changed how we think about money and how traditional financial systems operate. The Philippines has established itself as a prospective player in the crypto industry, and the Blockchain Council there has been instrumental in promoting the uptake and comprehension of these virtual currencies. The executive director of…

TL;DR Breakdown Crypto industry is facing stricter global regulations following the FSB’s new guidelines. Safeguards are based on traditional finance principles, focusing on risk management and customer-company fund segregation. The push for regulation is due to high-profile cases of misconduct within the crypto sector. Description The dawn of a more stringent global regulatory era looms over the crypto industry as it grapples with a unified global push for enhanced safeguards. This comes in response to notorious incidents involving cryptocurrency firms, including the collapse of FTX exchange, marking a pivotal moment in the industry’s path towards maturity. Introducing financial safeguards: A … Read more The dawn of a more stringent global regulatory era looms over the crypto industry as it grapples with a unified global push for enhanced safeguards. This comes in response to notorious incidents involving cryptocurrency firms, including the collapse of FTX exchange, marking a pivotal moment in the industry’s path towards maturity. Introducing financial safeguards: A global mandate The Financial Stability Board (FSB), an international body mandated by the G20, issued final recommendations for overseeing crypto-asset firms such…

TL;DR Breakdown Blockchain startup Ripple expects U.S. banks to show interest in adopting XRP for cross-border payments following a favorable court ruling. The ruling stated that XRP is not inherently a security, rejecting part of the SEC’s claims. The blockchain company anticipates discussing its On-Demand Liquidity (ODL) product, which uses XRP for money transfers, with U.S. financial firms. Description The cryptocurrency landscape in the United States has recently undergone a significant shift following a recent court ruling in favor of the blockchain startup, Ripple. This verdict has established a new precedent, effectively asserting that Ripple’s digital token, XRP, is not inherently a security. This crucial finding has paved the way for the company to … Read more The cryptocurrency landscape in the United States has recently undergone a significant shift following a recent court ruling in favor of the blockchain startup, Ripple. This verdict has established a new precedent, effectively asserting that Ripple’s digital token, XRP, is not inherently a security. This crucial finding has paved the way for the company to regain its foothold in the American market, with…

TL;DR Breakdown Bearish sentiment rises in BNB perpetual futures market with record low funding rates at -0.18%. Negative market sentiment is fueled by high-profile resignations and legal battles at Binance, BNB’s parent company. Despite Binance CEO’s attempts to calm the market, fears persist due to regulatory pressures and staff layoffs. Description The cryptocurrency market sees a surge in short interest for BNB token, an alarming sign of bearish momentum on the horizon. As traders set their sights on the perpetual futures market linked to the BNB token, indicators suggest a challenging landscape unfolding due to several controversies surrounding the cryptocurrency. Unsettling data fuels market anxiety Key … Read more The cryptocurrency market sees a surge in short interest for BNB token, an alarming sign of bearish momentum on the horizon. As traders set their sights on the perpetual futures market linked to the BNB token, indicators suggest a challenging landscape unfolding due to several controversies surrounding the cryptocurrency. Unsettling data fuels market anxiety Key indicators tracked by the cryptocurrency data provider, Coinglass, reveal that the open interest and volume-weighted funding…

TL;DR Breakdown BlackRock plans to grant retail investors in its iShares Core S&P 500 ETF proxy voting rights from 2024. Investors can select from seven general policies, but cannot vote on individual companies. This move comes amidst criticism that large fund managers prioritize social and environmental goals over investors’ returns. Description In a groundbreaking move, BlackRock, the world’s largest asset manager, has announced plans to grant retail investors in its premier exchange-traded fund (ETF), iShares Core S&P 500 ETF (IVV), voting rights in proxy decisions starting from 2024. This significant action comes as part of a broader industry trend that has seen other giant index fund … Read more In a groundbreaking move, BlackRock, the world’s largest asset manager, has announced plans to grant retail investors in its premier exchange-traded fund (ETF), iShares Core S&P 500 ETF (IVV), voting rights in proxy decisions starting from 2024. This significant action comes as part of a broader industry trend that has seen other giant index fund providers, like State Street and Vanguard, explore methods to incorporate ordinary investors’ voice in their investment…

TL;DR Breakdown The emergency takeover of Credit Suisse by UBS is being positively received by investors. Despite potential job losses and integration challenges, the merger is seen as a strategic opportunity for UBS. UBS expects to attract $150 billion in new client funds annually, becoming a wealth management powerhouse. Description Investors are reacting positively to the emergency takeover of Credit Suisse by Switzerland’s largest bank, UBS. The deal, viewed by many as a promising strategic move, could reposition UBS as a prominent player in the financial landscape, despite concerns of potential job losses and a complex integration process. Promising opportunities amid risks The takeover, completed … Read more Investors are reacting positively to the emergency takeover of Credit Suisse by Switzerland’s largest bank, UBS. The deal, viewed by many as a promising strategic move, could reposition UBS as a prominent player in the financial landscape, despite concerns of potential job losses and a complex integration process. Promising opportunities amid risks The takeover, completed for 3 billion Swiss francs (approximately $3.4 billion), has led to a rising wave of optimism among…

TL;DR Breakdown U.S. Treasury Secretary, Janet Yellen, asserts the U.S. economy is on a good path and doesn’t expect a recession. U.S. is controlling inflation effectively and the labor market remains strong despite global concerns. No immediate plans for U.S. tariff reductions as part of efforts to normalize relations with China. Description As global markets continually adjust to fluctuating economic conditions, there is a palpable fear of a looming recession. However, it seems the U.S. has found a way to keep such economic downturns at bay. The country’s economic fortitude, highlighted by Treasury Secretary Janet Yellen’s recent optimistic comments, paints a picture of an American economy not … Read more As global markets continually adjust to fluctuating economic conditions, there is a palpable fear of a looming recession. However, it seems the U.S. has found a way to keep such economic downturns at bay. The country’s economic fortitude, highlighted by Treasury Secretary Janet Yellen’s recent optimistic comments, paints a picture of an American economy not only weathering international financial turmoil but also setting the stage for continued growth. U.S. is…

TL;DR Breakdown Elon Musk and US Presidential candidate Vivek Ramaswamy give their thoughts on the relationship between the White House and BlackRock. Elon Musk draws attention to the reported close ties between the White House and BlackRock, highlighting the importance of disclosure and oversight. These interactions could lead to favoritism, conflicts of interest, and a loss of public confidence; as a result, both governmental and financial institutions need to uphold ethical standards. Description Elon Musk, the enigmatic CEO of SpaceX and Tesla, has made news again with his comments on the White House’s apparent ties to BlackRock, the largest financial management firm in the world. Musk’s tweets and public statements expressing concern about the potential influence that BlackRock might have over government policies and decisions sparked a heated … Read more Elon Musk, the enigmatic CEO of SpaceX and Tesla, has made news again with his comments on the White House’s apparent ties to BlackRock, the largest financial management firm in the world. Musk’s tweets and public statements expressing concern about the potential influence that BlackRock might have over government…

TL;DR Breakdown The UK’s FCA plans to apply its new consumer duty to social media posts to reduce harm from inappropriate financial promotions. The agency has concerns about ‘finfluencers’ misleading their followers due to their limited understanding of the financial products they promote. The regulator expects companies to monitor their affiliate links and ensure responsible communication. Description With an objective to curb the rising tide of financial misinformation and its consequential harm, the UK’s chief financial watchdog is set to bring social media under its oversight. The Financial Conduct Authority (FCA), intends to extend the application of its new consumer duty to social media posts. This decision comes as part of a … Read more With an objective to curb the rising tide of financial misinformation and its consequential harm, the UK’s chief financial watchdog is set to bring social media under its oversight. The Financial Conduct Authority (FCA), intends to extend the application of its new consumer duty to social media posts. This decision comes as part of a broader effort to stem what the regulator refers to as…