🚨🚨CRYPTO BREAKING NEWS!🚨🚨

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21 Dec 2023

1️⃣ BlackRock Updates Spot Bitcoin ETF Proposal to Meet SEC Standards 🏦

BlackRock, a leading asset manager, has submitted a revised proposal for its spot bitcoin (BTC) ETF with the ticker IBIT. The new proposal shows that BlackRock’s ETF will use cash creation and redemption methods. This means that investors in this ETF can exchange their shares for the cash value of the Bitcoin held by the ETF. This is the model that the Securities and Exchange Commission (SEC) prefers because it is reportedly ‘more secure’ and ‘more accessible’. The other model is the ‘in-kind’ redemption method, which allows firms to exchange shares for bitcoin held by their ETFs.
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2️⃣ Circle Expands EURC Stablecoin to Solana Blockchain 🚀

Circle Internet Financial, a stablecoin issuer, has announced the launch of its euro-backed stablecoin ‘EURC’ on the Solana blockchain. EURC is already available on Avalanche, Ethereum and Stellar – making Solana the fourth network to support it.
Circle stated,
EURC is well positioned to radically enhance utility across peer-to-peer transfers and European remittance corridors. Developers and users can now build and transact across both EURC and USDC on Solana for faster, lower-cost ways to send, spend and save money worldwide.
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3️⃣ Revolut Business to Suspend Some Crypto Services in the UK Due to New Regulations 🇬🇧

Revolut, a digital bank, is reportedly preparing to stop some of its crypto services for its UK business customers, starting from next year. Revolut said that the decision is in response to the upcoming Financial Conduct Authority (FCA) rules on promoting crypto that will take effect on Jan. 8, 2024.
Revolut sent an email to its affected customers, stating,
These requirements aim to enhance the customer journey and provide additional protection for new and existing investors of crypto assets. As a result, we’ll need to adjust our current Business crypto offering to make sure all of the new requirements are met.
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4️⃣ Galaxy Digital Eyes More Crypto Bankruptcy Assets After Selling FTX’s Coins 🧐

Galaxy Digital, a crypto financial services firm, is looking to buy more assets from insolvent crypto companies after striking a deal to sell bitcoin and ether owned by crypto exchange FTX on behalf of the estate’s management. The deal reportedly tripled Galaxy Digital’s ‘Assets under Management’ from $1.7 billion a year ago to a current $5.3 billion. Potential targets include FTX’s VC portfolio of real estate and technology companies that includes a stake in AI start-up Anthropic.
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📌Conclusion:

These are some of the most exciting and relevant news stories in the crypto space that happened in the past week. I hope you enjoyed reading them and learned something new. Stay tuned for more updates and insights from Time.

Disclaimer: The information and content provided in this article are for informational and educational purposes only and do not constitute any financial, investment, or legal advice. Trading, buying, or investing in cryptocurrencies involves significant risks and may result in the loss of your capital. You should do your own research and consult a professional before making any decisions. This article is not a suggestion or an endorsement of any cryptocurrency or platform.

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