2023-10-16 14:36

Copyrighted Image by: Reuters The Ethereum network has seen a significant decrease in its validator entry and exit queues, according to data from Validator Queues. As of Monday, only a handful of validators are waiting for initiation, with the process taking roughly 15 minutes. This development marks a stark contrast to situations earlier this year, such as in May 2023 when over 90,000 validators were queued for more than 40 days to join the network. This reduction in queue times is attributed to adjustments made to the churn limit, allowing up to 2,925 validators per day to enter or exit the network. Analyst Tom Wan from 21 Shares highlighted this change, noting that it now accommodates up to 93,600 new Ethereum deposits daily without extending new validator wait times. Despite these operational improvements, the conditions for becoming an Ethereum validator remain unchanged. The minimum stake required is still at 32 ETH, equivalent to approximately $50,000. The decrease in queue times coincides with a drop in the staking yield for Ethereum validators. The staking rewards reference rate currently stands at approximately 3.3%. This is a noteworthy downturn considering the recent surge in interest and participation in Ethereum's proof-of-stake model. The current developments indicate a more efficient onboarding process for Ethereum validators, potentially encouraging further participation despite the reduced staking yield. However, it remains to be seen how these changes will impact Ethereum's overall network dynamics and performance in the long term. https://www.investing.com/news/cryptocurrency-news/ethereum-validator-queues-see-drastic-reduction-staking-yield-drops-93CH-3200043

2023-10-16 13:55

Copyrighted Image by: Reuters. On Monday, CBOT wheat futures rose to a two-week high, driven by global demand expectations. The most active CBOT wheat contract settled at $5.79-3/4 per bushel, bouncing back from a three-year low last month. However, the ongoing Israel-Hamas conflict tempered these gains. Despite stiff competition from Black Sea origins, prices continued to rise, according to Russia's IKAR agriculture consultancy. Meanwhile, CBOT corn dipped by 3-1/4 cents to $4.90 per bushel. On the other hand, soybeans ascended by 5-3/4 cents to $12.86 a bushel, bolstered by soaring soyoil futures. The U.S. Department of Agriculture reported above-expected soybean export inspections of 2 million metric tons for the week ending Sunday. The National Oilseed Processors Association (NOPA) noted a record-breaking U.S. soybean crush for September and the lowest soyoil stocks in nearly nine years. This development marks an important shift in the commodities market that could have significant implications for future trade dynamics. https://www.investing.com/news/commodities-news/cbot-wheat-futures-reach-twoweek-high-amid-global-demand-expectations-93CH-3200021

2023-10-16 13:55

In response to the U.K.'s Financial Conduct Authority's (FCA) recent crypto ad rules, Binance has suspended new user registrations in the U.K. starting Monday. The FCA's expanded financial promotions regime, effective from October 8, requires crypto platforms to adhere to higher technical standards and provide explicit risk warnings. The suspension of new U.K. user registrations comes after Binance's previous communications approval partner, Rebuildingsociety.com, had its authority curtailed by the FCA. This has led Binance to seek another FCA-authorized entity to handle its financial promotions. The recent developments exacerbate Binance's existing regulatory complications globally. The cryptocurrency exchange is currently facing lawsuits in the US and Canada, an ongoing investigation by the US Department of Justice, and a prior warning from the FCA in 2019 about its services due to the complexity of its global structure posing challenges for effective regulation. https://www.investing.com/news/cryptocurrency-news/binance-halts-uk-registrations-amid-regulatory-pressures-93CH-3200022

2023-10-16 13:55

Tether, the issuer of a US dollar-pegged stablecoin widely used in crypto trades, has taken significant steps to combat cryptocurrency-funded terrorism. Today, in collaboration with Israel's National Bureau for Counter Terror Financing (NBCTF), Tether froze $873,118 across 32 crypto wallets associated with illicit activities in Israel and Ukraine. The move is part of a broader effort to ensure financial integrity within the crypto industry. Paolo Ardoino, the newly-appointed CEO of Tether, underscored the company's commitment to cybersecurity and responsible blockchain utilization. He also expressed his eagerness for more collaborations with global law enforcement agencies in the fight against cybercrime. In parallel with Tether's actions, Binance, one of the world's leading cryptocurrency exchanges, has also tightened its security measures. Responding to requests from Israeli law enforcement agencies, Binance froze accounts linked to the armed wing of Hamas. This group has been employing increasingly complex Bitcoin fundraising methods, highlighting the necessity for stringent security protocols within the crypto industry. The recent actions taken by Tether and Binance are not isolated incidents. Tether has previously frozen $46 million connected to an FTX wallet during its collapse. Furthermore, as part of its ongoing commitment to financial transparency and integrity, Tether has assisted 31 global law enforcement agencies by freezing a total of $835 million in assets linked to blockchain and exchange hacks. BitOK, a prominent analytics firm, reported that the wallets recently frozen by Tether and Binance had received upwards of $41 million over the past two years. These findings underscore the crucial role that cryptocurrency platforms play in maintaining financial security and combating illicit activities. As such, these platforms are expected to continue their vigilance against potential threats to ensure the safety and integrity of their users' assets. https://www.investing.com/news/cryptocurrency-news/tether-and-binance-intensify-security-measures-amidst-cryptofunded-terrorism-93CH-3200023

2023-10-16 13:53

Copyrighted Image by: Reuters. On Monday, the US Securities and Exchange Commission (SEC) declined to challenge a federal appeals court ruling that criticized its refusal of Grayscale Investments' plan to convert its Bitcoin Trust into an exchange traded fund (ETF). This decision could potentially pave the way for more spot bitcoin ETFs, as the SEC's refusal had previously been based on concerns about fraud and market manipulation in unregulated bitcoin exchanges. Following the court ruling, Grayscale confirmed its readiness for the conversion upon SEC approval. The company's Bitcoin Trust saw a reduction in its discount to net asset value, which is often viewed as a measure of investor expectations. Additionally, the value of Bitcoin increased. Several other major financial firms, including BlackRock (NYSE:BLK), Fidelity, Ark Invest, WisdomTree, VanEck and Valkyrie, have pending spot bitcoin ETF applications. Many have adjusted their filings to highlight segregated asset holding by custodians. This new language in many applications has led to speculation about active SEC engagement with applicants. Despite concerns in the US market, spot bitcoin ETFs have been operating smoothly in Europe and similar products are available in Canada. Ark, in its joint filing with 21Shares, highlighted risks such as the perceived use of bitcoin in illicit transactions and significant electricity consumption by digital asset mining operations, potentially inviting government regulations. In December 2022, GBTC’s discount hit a record 48.9 per cent but narrowed significantly following the court ruling. Bitcoin's value spiked above $28,000 on unfounded rumors of BlackRock's spot bitcoin ETF approval, which were later denied by both BlackRock and the SEC. https://www.investing.com/news/cryptocurrency-news/secs-nonappeal-opens-door-for-spot-bitcoin-etfs-93CH-3200020

2023-10-16 13:39

Copyrighted Image by: Reuters. On Monday, a wave of significant increases swept across the major cryptocurrencies, with Solana and Bitcoin leading the charge. Solana witnessed a robust 5.57% rise to $23.31, while Bitcoin followed closely, recording a 2.97% increase to $28,001.20. Other prominent cryptocurrencies like Ethereum and Ripple also experienced modest gains during the trading session. In tandem with the crypto market's upswing, shares of crypto-related companies displayed notable growth. Coinbase (NASDAQ:COIN) Global Inc., Tesla (NASDAQ:TSLA) Inc., NVIDIA Corp (NASDAQ:NVDA)., Riot Platforms Inc., and MicroStrategy Inc. were among those registering substantial increases. The fund market echoed this positive trend, with Bitwise Crypto Industry Innovators ETF, Amplify Transformational Data Sharing ETF, and Grayscale Bitcoin Trust seeing significant growth as well. The Grayscale Bitcoin Trust, Amplify Transformational Data Sharing ETF, and Bitwise Crypto Industry Innovators ETF all recorded substantial growth during Monday's trading session. Other crypto-related companies such as Marathon Digital (NASDAQ:MARA) Holdings Inc., Overstock.com (NASDAQ:OSTK) Inc., Block Inc., PayPal Holdings Inc (NASDAQ:PYPL)., Ebang International Holdings Inc., and Advanced Micro Devices (NASDAQ:AMD) Inc. also saw their shares rise on Monday. This widespread surge in both cryptocurrency values and related stocks indicates a strong day for the broader crypto market, reflecting investor confidence in digital assets. https://www.investing.com/news/cryptocurrency-news/crypto-markets-surge-solana-and-bitcoin-lead-the-pack-93CH-3200017