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☆ U.S. companies in no hurry to disclose ownership under new Treasury rule
▼ + stars: | 2024-01-08 | by ( Chelsey Cox | ) www.cnbc.com time to read: +2 min

U.S. Treasury Secretary Janet Yellen gives a statement to the press during her visit in Mexico City, Mexico December 6, 2023. FinCEN also estimates 5 million additional reporting companies annually, over the next 10 years. The reporting rule is part of the 2021 Corporate Transparency Act that went into effect on Jan. 1. The new rules will make the registry available to law enforcement to expedite investigations into illicit activities — such as drug trafficking and tax evasion. "Information on beneficial ownership will support our law enforcement colleagues in making arrests, prosecuting offenders, and seizing ill-gotten assets."

Persons: Janet Yellen, Yellen, FinCEN, —, BOI, Binance Organizations: Treasury, WASHINGTON —, Monday, CNBC Locations: Mexico City, Mexico, United States, Vienna , Virginia

☆ Cryptocurrency investors eagerly awaiting SEC ruling on bitcoin ETFs
▼ + stars: | 2024-01-05 | by ( Bob Pisani | ) www.cnbc.com time to read: +5 min

Crypto investors are eagerly awaiting an imminent ruling from the U.S. Securities and Exchange Commission that will likely approve the trading of a spot bitcoin exchange-traded fund, more than a decade after initial attempts were rejected. 13 companies have filed for a spot bitcoin ETF:Grayscale Bitcoin TrustArk/21Shares Bitcoin TrustBitwise Bitcoin ETF TrustBlackRock Bitcoin ETF TrustVanEck Bitcoin TrustWisdomTree Bitcoin TrustValkyrie Bitcoin FundInvesco Galaxy Bitcoin ETFFidelity Wise Origin Bitcoin TrustGlobal X Bitcoin TrustHashdex Bitcoin ETFFranklin Templeton Digital Holdings TrustPando Asset Spot Bitcoin TrustHow the SEC will proceedThere are two components to the applications:1) A 19b-4 filing, which is a form used by exchanges to inform the SEC of a proposed rule change. In this case, each company filing for the spot bitcoin ETF has differences in the way the product might be structured. Invesco's Galaxy Bitcoin ETF has set its expense ratio at 59 basis points, which are waived for the initial six months and the first $5 billion in assets. Grayscale Bitcoin Trust currently charges 2% but has said it's committed to lowering the fee once its application to convert to a bitcoin ETF is approved.

Persons: Fidelity's, it's, Gary Gensler's, Gensler, Bitcoin, Coinbase, Binance, Changpeng Zhao, Zhao, Wood Organizations: U.S . Securities, Exchange Commission, BlackRock, Fidelity, Bitcoin, Franklin Templeton Digital Holdings Trust, SEC, Securities, NYSE, Nasdaq, Galaxy, U.S ., Appeals, U.S . Department of Justice, Binance

☆ CNBC Daily Open: Winners and losers of 2023
▼ + stars: | 2024-01-02 | by ( Yeo Boon Ping | ) www.cnbc.com time to read: +2 min

Traders work on the floor of the New York Stock Exchange (NYSE) on the last day of trading for the year on December 29, 2023 in New York City. This report is from today's CNBC Daily Open, our new, international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Nasdaq reboundThe Nasdaq Composite popped 43% in 2023, its best year since 2020. Bullish on bitcoinBitcoin rallied about 152% in 2023 despite high-profile criminal cases against cryptocurrency exchanges FTX and Binance.

Persons: Germany's DAX, bitcoin Bitcoin, Bitcoin, Sarah Min Organizations: New York Stock Exchange, CNBC, Nasdaq, U.S . Federal, U.S . Price, Companies, Federal Reserve Locations: New York City, U.S

☆ CNBC Daily Open: 2023’s winners and losers
▼ + stars: | 2024-01-02 | by ( Yeo Boon Ping | ) www.cnbc.com time to read: +2 min

NEW YORK, NEW YORK - DECEMBER 29: Traders work on the floor of the New York Stock Exchange (NYSE) on the last day of trading for the year on December 29, 2023 in New York City. The Dow was up slightly in morning trading in what has been a strong year for the stock market despite many economists predictions that the American economy would experience a recession. (Photo by Spencer Platt/Getty Images)This report is from today's CNBC Daily Open, our new, international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Interest in alternative assets — which include anything outside public market assets like stocks, bonds, commodities and cash — looks to be growing.

Persons: Dow, Spencer Platt, Australia's, Bullish, bitcoin Bitcoin, Bitcoin, BYD, Tesla BYD, Tesla Organizations: NEW, New York Stock Exchange, Getty, CNBC, Pinebridge Investments, International Monetary Fund, Tesla, U.S . Securities, Exchange Commission, Elon Musk's EV Locations: New York City, Asia, Pacific, Shanghai, China, India, U.S

Meanwhile, there is growing excitement that the U.S. Securities and Exchange Commission will approve the first ever bitcoin ETF, after years of opposition. With all of this excitement comes some quite bold predictions about bitcoin's price. "No rationale for that prediction," Mobius said, except that a bitcoin ETF looks likely and "that has heightened interest" in the cryptocurrency. Yang attributes the anticipated price rise to a bitcoin ETF being approved, leading to higher institutional investment in bitcoin, as well as May 2024's bitcoin halving, which would result in the bitcoin supply being constrained. Alexander told CNBC that during the first quarter of 2024, bitcoin will trade within the $40,000 to $55,000 range, owing to "professional traders creating volatility."

Persons: Filip Radwanski, Bitcoin, bitcoin, FTX, Sam Bankman, Fried, Binance's Changpeng Zhao, Mark Mobius, Mobius, Yang, Luna, James Butterfill, Butterfill, Antoni Trenchev, Trenchev, Carol Alexander, Alexander, Coinbase, Matrixport Organizations: Getty, CNBC, Department of Justice, U.S, U.S . Securities, Exchange, Chartered, University of Sussex, Exchange Commission, SEC, Fidelity, Blackrock, Federal Reserve Locations: U.S, bitcoin, Blackrock

Here's the state of play globally for crypto regulation and enforcement in 2023 — and a look at what to expect in 2024. "However, much of their work has involved providing guidance to the industry through enforcement actions," continued Levin. Crypto market participants nevertheless hope that the spate of legal challenges brought to crypto companies in 2023 will bring clarity in the form of new regulations. The U.S.'s dominant role in global finance and its focus on consumer protection plays a crucial role in its leading position in crypto regulation enforcement. The region has been increasingly warming to crypto assets, despite a broader anti-crypto push from China, which banned bitcoin trading and mining in 2021.

Persons: Al Drago, Binance, Sam Bankman, Renato Mariotti, Mariotti, Richard Levin, Nelson Mullins Riley, Levin, ada, Changpeng Zhao, Damian Williams, Brian Armstrong, Armstrong, Alyse Killeen, Scarborough's Levin, FinCEN, Killeen, Diem, USDC, Braden Perry, it's, Kennyhertz Perry, Perry, Bafin Organizations: U.S . Securities, Exchange Commission, Bloomberg, Getty, Regulators, Securities and Exchange Commission, U.S, Alameda Research, U.S . Justice Department's Securities, Commodities, CNBC, Capitol, SEC, Futures Trading Commission, Department of Justice, Scarborough, CFTC, Protocol Labs, Southern, of, Stillmark, Meta, Visa, Mastercard, U.S ., European, IRS, European Union, EU, France's Financial Markets Authority, AMF, Treasury, Monetary Authority of, Three Arrows, Terra Labs, Terra, Hong Kong Securities, Futures Commission, SFC, OSL Locations: Washington, Europe, Asia, U.S, Alameda, of New York, European, Crypto, Ireland, Germany, France, Italy, Netherlands, Singapore, Dubai, Hong Kong, Monetary Authority of Singapore, China, East, Africa

☆ Heroes to zeroes in 12 months: How the two biggest crypto billionaire CEOs proved the critics right
▼ + stars: | 2023-12-30 | by ( Mackenzie Sigalos | ) www.cnbc.com time to read: +12 min

Combination showing Former FTX CEO, Sam Bankman-Fried (L) and Zhao Changpeng (R), founder and chief executive officer of Binance. Meanwhile, Solana is nearly 10x higher in the last 12 months, and bitcoin miner Marathon Digital has also skyrocketed. That same year, Bankman-Fried earned street cred in crypto circles for his bitcoin arbitrage trading strategy, dubbed the Kimchi swap. The relationship between Zhao and Bankman-Fried began to sour a few months after they met. In Nov. 2022, a fight between Bankman-Fried and CZ on Twitter, now known as X, pulled the mask off the scheme.

Persons: Sam Bankman, Zhao Changpeng, Bitcoin, Solana, Binance's, Zhao, FTX's Sam Bankman, Fried, JPMorgan Chase, Jamie Dimon, bitcoin, Bill Gates, Warren Buffett, Elizabeth Warren, execs, Renato Mariotti, Michael Lewis, Sam, gunning, Lewis, SBF, Binance, FTX, Goldman Sachs, General Merrick Garland, Garland, Amr Alfiky Organizations: Marathon, JPMorgan, Microsoft, Capitol, Department of Justice, U.S . Justice Department's Securities, Commodities, CZ, Alameda Research, Formula, Democratic, Twitter, Emergency Economic, U.S ., Futures Trading Commission, Treasury Department, Securities, Exchange Commission, Justice Department, DOJ, Reuters Locations: Hong Kong, Singapore, Bankman, FTX, Miami, Washington, Alameda, U.S, New York City

☆ Crypto’s 2023 was marred by fraud and scandal. It was its best year ever
▼ + stars: | 2023-12-24 | by ( Allison Morrow | ) edition.cnn.com time to read: +6 min

New York CNN —Crypto’s 14th year in existence was one marred by scandal, bankruptcy, fraud and regulatory squabbling. Bitcoin, the crypto’s bellwether asset, is up 160% for the year. “It was the year of crypto’s resiliency,” Kyla Curley, a crypto expert and partner at global advisory StoneTurn, tells CNN. “Fraud is fraud,” Curley says, “Regardless of the technology or the industry … you cannot stop human nature. Adding to that bullish sentiment: the bitcoin halving, or, more menacingly, “the halvening.”While it’s often a buy-the-hype-sell-the-news kind of event, the halving does tend to push bitcoin higher.

Persons: New York CNN —, “, ”, Sam Bankman, Zhao, Alex Mashinsky, Heather “ Razzlekhan ” Morgan, Ilya Lichtenstein, ‘, Bonnie, Clyde ’, Bitcoin, crypto’s, ” Kyla Curley, ” Curley, Changpeng Zhao, Eduardo Munoz, Costas Baltas, Faryar Shirzad, bitcoin, ” Antoni Trenchev, ” Trenchev, Warren Buffett, Anthony Scaramucci, “ Bitcoin Organizations: New, New York CNN, New York CNN — Crypto’s, CNN, Department of Justice, crypto’s, grifters, Bitcoiners, SkyBridge Locations: New York, SBF, Bitcoin

☆ Robinhood launches crypto trading service in the EU
▼ + stars: | 2023-12-07 | by ( Ryan Browne | ) www.cnbc.com time to read: +2 min

Robinhood said its new crypto product would allow customers to buy, sell, and hold from a range of more than 25 tokens, including bitcoin, ether, ripple, cardano, solana, and polkadot. The company hopes to offer more tokens, as well as the ability to transfer and "stake," or earn rewards from, crypto in 2024. Robinhood is looking to tempt EU users into using its service with the ability to earn free bitcoin for users who trade lots and refer the app to their friends. The U.S. Securities and Exchange Commission has targeted several crypto firms, including Coinbase and Binance, with lawsuits alleging they violated securities laws. The EU, meanwhile, has proposed a comprehensive set of regulation, called the Markets in Crypto-Assets regulation, that would bring in stricter rules for crypto trading platforms and issuers of so-called stablecoins — tokens pegged to real-world assets like the U.S. dollar or euro .

Persons: Jakub Porzycki, Robinhood Organizations: Getty, European Union, U.S . Securities, Exchange Commission, U.S . Locations: Krakow, Poland, United States, solana, U.S, U.K, EU, Crypto

Bitcoin coins are seen at a stand during the Bitcoin Conference 2023, in Miami Beach, Florida, U.S., May 19, 2023. Crypto companies spent $18.96 million in the first three quarters of 2023 on lobbying, compared with $16.1 million during the same period in 2022. That was despite last year's spectacular meltdown of crypto exchange FTX, which had been a top-ten spender. Coinbase (COIN.O), the largest U.S. crypto exchange, led the pack again, spending $2.16 million, followed by Foris DAX, which operates Crypto.com, the Blockchain Association and Binance Holdings. Although those bills have yet to advance further, crypto lobbyists are not letting up.

Persons: Marco Bello, spender, FTX, Foris DAX, Kristin Smith, Sam Bankman, Fried, Coinbase, Binance, Crypto.com, Hannah Lang, Michelle Price, Matthew Lewis Organizations: REUTERS, Rights, Blockchain Association, Binance Holdings, U.S . Securities, Exchange Commission, SEC, Thomson Locations: Miami Beach , Florida, U.S, Washington, Manhattan, Binance

☆ Binance might be peak for U.S. crypto enforcement cases, says CFTC official
▼ + stars: | 2023-12-05 | by ( Huw Jones | ) www.reuters.com time to read: +2 min

Representations of cryptocurrencies are seen in front of displayed Binance logo in this illustration taken November 10, 2022. U.S. regulators have brought several cases against crypto firms such as Binance, helping to establish "guardrails" to bring "order and structure" to the market, CFTC Commissioner Kristin Johnson told an FT crypto and digital assets summit. She urged crypto firms to study the Binance settlement to see what sort of governance regulators look for at crypto firms. The CFTC will also be "deeply thoughtful" on requiring better disclosures at crypto firms that are vertically integrated, combining different activities under one roof. In the meantime, crypto firms are setting up shop in Britain to build an ecosystem that can service the rest of the world and benefit from "nuanced" regulators, Quintenz said.

Persons: Dado Ruvic, Kristin Johnson, Johnson, Brian Quintenz, Quintenz, Xiao, Xiao Zhu, Huw Jones, Mark Potter Organizations: REUTERS, Futures Trading Commission, Treasury Department, Justice Department, European Union, CFTC, KKR, Thomson Locations: U.S, Binance's, Britain

☆ Coinbase comeback has further to go as retail investors are only starting to rediscover crypto, Needham says
▼ + stars: | 2023-12-05 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +3 min

Coinbase shares have even further to climb despite already being up 13% since the start of December and the low appetite for crypto coming from retail investors, according to Needham. Needham raised its price target on Coinbase on Tuesday to $160 from $120, implying about 13% upside from its closing price Monday. Meanwhile, although retail investors' appetite for crypto has improved since bottoming a year ago after the collapse of FTX, interest is generally low, according to Needham. "Retail crypto engagement is considerably lower than in prior years and despite the recent price gains, has been fairly muted," Todaro said. Dominance tends to rise in bear markets as investors rotate into the safety of bitcoin compared to other crypto coins .

Persons: Needham, John Todaro, Todaro, Coinbase, Franklin Templeton, Michael Bloom Organizations: U.S . Department of Justice, Apple Locations: Needham, U.S, BlackRock, WisdomTree, bitcoin

☆ Binance Copped a $4 Billion Plea but Is Still Fighting the SEC
▼ + stars: | 2023-12-04 | by ( Dave Michaels | ) www.wsj.com time to read: 1 min

WASHINGTON—When top Biden administration officials gathered last month at the Justice Department to announce a $4.3 billion legal resolution with Binance , one powerful regulator was absent. Attorney General Merrick Garland was there. So was Treasury Secretary Janet Yellen . But Securities and Exchange Commission Chair Gary Gensler wasn’t, even though he has his own legal beef with Binance. The SEC sued the world’s largest cryptocurrency exchange in June and has been the regulatory scourge of the crypto world.

Persons: WASHINGTON, General Merrick Garland, Janet Yellen, Gary Gensler wasn’t Organizations: Biden, Justice Department, Securities, Exchange, SEC

☆ Bitcoin price hits highest level in 18 months as investors gear up for ETF approval
▼ + stars: | 2023-12-04 | by ( Allison Morrow | ) edition.cnn.com time to read: +2 min

New York CNN —The price of bitcoin soared above $40,000 on Monday, hitting its highest level in 18 months as investors look ahead to a lower interest rate environment and key regulatory approvals that could make the crypto asset more mainstream. Bitcoin, the world’s most popular cryptocurrency, was up more than 5% over the past 24 hours, trading at $41,600, according to CoinMarketCap. Bitcoin is now up 150% for the year, though it remains far from its historical high of $69,000 in November of 2021. A spot bitcoin ETF would allow traditional investors to have exposure to the digital asset without actually owning it. The market has long desired a way to ride the digital asset’s wild rallies, but its volatility has also made owning bitcoin unappealing outside of the digital asset community.

Persons: Jerome Powell, Powell, ”, Antoni Trenchev, Changpeng Zhao, Binance, FTX, Sam Bankman Organizations: New, New York CNN, Federal, Securities and Exchange, SEC Locations: New York

☆ Brazilian lender Itau launches crypto trading
▼ + stars: | 2023-12-04 | by ( ) www.reuters.com time to read: +1 min

SAO PAULO, Dec 4 (Reuters) - Brazilian bank Itau Unibanco (ITUB4.SA) on Monday launched a cryptocurrency trading service for clients of its investment platform, making the nation's largest lender the latest local player to enter the market for the digital asset's exchange. "It starts with bitcoin, but our overarching strategic plan is to expand to other crypto assets in the future," he said, adding any expansion would depend on how crypto regulation in the country evolved. Itau argues it will stand out from rivals as it also acts as a custodian, safeguarding users' assets, Antunes said. The move comes about a month after two local players announced they were leaving the crypto market. Brokerage and investments company XP (XP.O) did not say why it was shutting down its crypto service, but financial services firm PicPay, owned by conglomerate J&F which also controls meatpacker JBS (JBSS3.SA), cited regulatory uncertainties.

Persons: Guto Antunes, Itau, Antunes, meatpacker, Paula Arend Laier, Andre Romani, Kylie Madry, Chris Reese Organizations: SAO PAULO, Monday, Thomson Locations: bitcoin, Brazil

☆ Crypto execs says the bull run is underway and could lead to $100,000 bitcoin in 2024
▼ + stars: | 2023-12-04 | by ( Arjun Kharpal | ) www.cnbc.com time to read: +4 min

"It feels that [2023]was a year to get ready for the bull run that is yet to come. But the sentiment is very hopeful for [2024] and 25," Pascal Gauthier, CEO of Ledger, told CNBC last week in an interview. Since then, the crypto industry has been hit with a litany of issues from the collapse of coins and projects to bankruptcies and criminal trials. It began with Standard Chartered last week which reiterated an April price call that bitcoin would hit $100,000 by end of 2024. "Combined with geopolitical crosscurrents, this healthy dose of monetary support should push Bitcoin to new highs in 2024."

Persons: Chino, Bitcoin, Pascal Gauthier, Ledger, Sam Bankman, Changpeng Zhao, David Marcus, Marcus, Facebook's, Diem, Gauthier, Vijay Ayyar, Matrixport Organizations: Getty, CNBC, U.S . Department of Justice, bitcoin, Standard Chartered, Federal Reserve

When 2023 began, a single bitcoin could be had for less than $17,000 after losing more than 75% of its value. But fueling this latest rally are prospects for the possible approval of spot bitcoin exchange traded funds — a pooled investment security that can be bought and sold like stocks. While analysts expect the potential approval of spot bitcoin ETFs to create a much larger pool of crypto investors, future volumes could go either way, Carey added. Despite the recent excitement around bitcoin, experts still maintain that crypto is a risky bet with wildly unpredictable fluctuations in value. As of around 1:30 p.m. Eastern time Monday, the price of bitcoin stood at $41,709.

Persons: Bitcoin, Riyad Carey, Carey, Binance, Changpeng Zhao, ”, “, Edward Moya, FTX, bitcoin Organizations: Federal, Industry, Regulators, Associated Locations: Silicon, bitcoin, cryptocurrencies, U.S

☆ Opinion: Why crypto was the perfect tool for criminals and kleptocrats
▼ + stars: | 2023-12-02 | by ( Opinion Casey Michel | ) edition.cnn.com time to read: +6 min

CNN —The news last week of money laundering charges against crypto exchange Binance and its CEO, Changpeng Zhao, sent shockwaves through both financial markets and crypto consumers alike. But for those familiar with the history of modern money laundering, they’re hardly surprising. Over and again, everything from Manhattan high-rises to Malibu beachfronts to Midwest manufacturing plants have allegedly housed illicit wealth, easily and anonymously. But crypto was also, in many ways, the perfect tool for kleptocrats and criminals trying to dodge sanctions and duck investigators. Like banks, real estate and more before it, the best days of the crypto industry as a haven for money laundering may yet be behind it.

Persons: Casey Michel, Changpeng Zhao, Zhao, ”, Versha Sharma, Hamas’s Al, they’re, —, kleptocrats Organizations: CNN, Wall Street Journal, Binance, Hamas’s, ISIS, Patriot Locations: Washington, American, Manhattan, Malibu, Midwest

REUTERS/Dado Ruvic/Illustration/File photo Acquire Licensing RightsLONDON, Dec 1(Reuters) - The Ethereum blockchain's historical greenhouse gas emissions before a major software upgrade last year were equivalent to the yearly emissions of Honduras, a University of Cambridge study showed on Friday. From its launch in 2015 until the Merge, Ethereum's greenhouse gas emissions totalled 27.5 million tonnes carbon dioxide equivalent (MtCO2e), the study showed. Its current yearly emissions are around 2.8 kilotonnes carbon dioxide equivalent, the study found - around the same as five round-trip flights from London to New York. It is generally thought that blockchain is "a highly emitting technology," said Anna Lerner, executive director at the Ethereum Climate Platform, an organisation that seeks to use blockchain tech to accelerate climate finance. The annual emissions of Bitcoin, the largest blockchain and cryptocurrency, are therefore roughly equivalent to those of Cambodia in 2020, according to Climate Watch.

Persons: Dado Ruvic, Anna Lerner, Ethereum, Alexander Neumueller, Neumueller, Tom Wilson, Alexandra Hudson Organizations: REUTERS, University of Cambridge, Global, Climate Watch, Reuters, Alexandra Hudson Our, Thomson Locations: Honduras, Dubai, London, New York, Bitcoin, Cambodia

Apple | Spotify | Amazon | YouTube Listen and follow ‘Hard Fork’The drama at OpenAI is not over. Kevin and Casey take stock of new information they’ve gathered since last week, and look at how other artificial intelligence companies are trying to capitalize on the debacle. Then, why people are still buying cryptocurrency even after Binance, the world’s largest crypto exchange, and its founder pleaded guilty to money laundering violations. And finally, three ways A.I. Today’s guest: David Yaffe-Bellany covers crypto for The New York Times.

Persons: Casey, David Yaffe Organizations: Apple, Spotify, YouTube, The New York Times

RIYADH, Saudi Arabia (AP) — Cristiano Ronaldo walked off the field with the gleeful chants of “Messi, Messi, Messi!” ringing in his ears from delighted Al-Hilal fans who had just watched their Saudi Pro League team beat the Portugal superstar's Al-Nassr 3-0 in the Riyadh Derby on Friday. Saudi soccer has not been the same since the former Real Madrid and Manchester United forward completed a move last December. Lots of people want to be like Cristiano Ronaldo but few want to work like Cristiano Ronaldo. Ronaldo may have his work cut out to help his team win title No. 10 but, given his form so far this season, he may still have the last laugh with the Messi chants fading away.

Persons: — Cristiano Ronaldo, “ Messi, Messi, Al, Portugal superstar's, Ballon, — Aleksandar Mitrovic, Milinkovic, Savic, Hilal, Ronaldo, Cristiano, ”, Fahad, “ Al, Sadio Mane, Marcelo Brozovic, Alex Telles, “ Cristiano, ” Al, Luis Castro, Cristiano Ronaldo, ” Ronaldo, Mitrovic, Hilal’s, Germain, Neymar, Ruben Neves, Kalidou Koulibaly, Salem, Saleh Al, Shehri, Lionel Messi's, ___ Organizations: Saudi Pro League, Riyadh Derby, Serbian, Al, King Fahd International, Real Madrid, Manchester United, Fahad Al, Associated Press, Liverpool, Inter Milan, Paris Saint, English Premier League, Saudi Arabian Locations: RIYADH, Saudi Arabia, Portugal, Riyadh, Saudi Arabian, Saudi, Al, Hilal, Asia, Paris, Brazil, Lionel Messi's Argentina, cryptocurrency

☆ Bitcoin finishes November strong as investors enter a waiting period in the final month of 2023
▼ + stars: | 2023-12-01 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +3 min

November was perhaps the most significant month of this year for the crypto industry and gave bitcoin a strong setup as investors look toward 2024. "It's safe to say that the market is grinding higher in anticipation of a spot bitcoin ETF approval in January," said Ryan Rasmussen, research analyst at Bitwise Asset Management. "Some investors will continue trying to front-run the potential spot bitcoin ETF approval, but December is essentially a 'wait and see' period for bitcoin," he said. November is a historically strong month for bitcoin. "It tells us that investors are interested in more than just the potential for a spot bitcoin ETF.

Persons: Bitcoin, FTX's, Sam Bankman, Fried, Ryan Rasmussen, There's, CoinGlass, Rasmussen Organizations: Metrics, Investors, Binance, U.S . Department of Justice, Bitwise Asset Management, U.S . Securities, Exchange Commission, Wolfe Research Locations: altcoins

☆ Crypto stocks set to start December on high note as bitcoin hits near 19-month high
▼ + stars: | 2023-12-01 | by ( ) www.reuters.com time to read: +2 min

Shares of bitcoin miners - whose profitability improves as bitcoin climbs - including Riot Platforms (RIOT.O), Marathon Digital (MARA.O) and TeraWulf (WULF.O) rose between 1.7% and 4%. "Higher crypto prices should lead to a boost in transaction volume and transaction revenues for Coinbase as we enter 2024," said CFRA Research analyst Michael Elliott. However, Elliott cautioned the crypto exchange faces both legal challenges and new regulations that are likely to take time to play out and will continue to result in volatility for the stock. The ETF approval bets have helped counter latest concerns after Changpeng Zhao, the founder of the world's largest crypto exchange, stepped down and pleaded guilty to breaking U.S. anti-money laundering laws. Among other gainers were U.S. software developer and bitcoin investor Microstrategy (MSTR.O), up nearly 3.5%, and ProShares Bitcoin Strategy ETF (BITO.P), which added 2.1%.

Persons: Dado Ruvic, Noelle Acheson, J.P.Morgan, Iris, Michael Elliott, Elliott, Changpeng Zhao, Microstrategy, Medha Singh, Sriraj Kalluvila, Krishna Chandra Organizations: REUTERS, Cipher Mining, Iris Energy, Marathon, CFRA, Thomson Locations: bitcoin, Bengaluru

Coinbase has the added benefit of having survived the so-called crypto winter, while so many of its rivals disappeared or downsized. Combination showing Former FTX CEO, Sam Bankman-Fried (L) and Zhao Changpeng (R), founder and chief executive officer of Binance. With assets of more than $65 billion on the platform, Binance remains the world's largest crypto exchange globally. watch nowBoth Coinbase and Binance still face legal battles with the Securities and Exchange Commission, which was noticeably absent from the Binance settlement. Regulatory approval would open up many more avenues for people to buy bitcoin.

Persons: Brian Armstrong, Carlos Jasso, Coinbase, Sam Bankman, FTX, Changpeng Zhao, Zhao Changpeng, Binance, Zhao, CoinGecko, Mizuho, it's, CNBC's Joumanna, Armstrong, Bittrex, JPMorgan Chase, Franklin Templeton Organizations: U.S . Securities, Exchange Commission, Bloomberg, Getty, Tech, Reuters, Justice Department, CNBC, Mizuho, Securities and Exchange Commission, U.S, SEC, JPMorgan, WisdomTree Locations: U.S, Binance, Needham, BlackRock, WisdomTree

☆ Cristiano Ronaldo faces $1 billion class-action lawsuit for endorsing worthless NFTs
▼ + stars: | 2023-11-30 | by ( Jordan Valinsky | ) edition.cnn.com time to read: +4 min

New York CNN —Soccer superstar Cristiano Ronaldo is facing a $1 billion class action lawsuit for his promotion of Binance, the world’s biggest crypto exchange. Ronaldo and Binance didn’t immediately respond to CNN’s request for comment. Notably, Ronaldo is still promoting the company, including posting a Binance ad as recently as November 28 on his X account, which has 110 million followers. Celebrities suedOther celebrities have also been the target of similar lawsuits. He also agreed to pay a $50 million criminal fine and a $150 million civil penalty.

Persons: Cristiano Ronaldo, Ronaldo “, Ronaldo, Binance didn’t, Binance, “, Gary Gensler, Kim Kardashian, Celebrities, Tom Brady, Gisele Bundchen, Brady, Bundchen, Kardashian, Floyd Mayweather, Jr, cryptocurrency, Charles Whitehead, ” Whitehead, ”, Changpeng Zhao, ” Zhao, – CNN’s Jennifer Korn, Allison Morrow Organizations: New, New York CNN — Soccer, ” Securities, Exchange, SEC, Cornell Law School, CNN Locations: New York, Florida

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