21st Oct: Blockchain DXB Podcast

🟠 SEC OKs 11 Bitcoin ETFs for NYSE 🔻Stable coin Vol down $3.6T to $1.2T 😱 Faketoshi legal battle against BTC developers 👀 (Olympic + Cocane + Tether.io + Fed)

🔥 The U.S. Securities and Exchange Commission has approved 11 spot Bitcoin ETFs, including those from Fidelity Investments, ARK, Invesco US, Grayscale Investments, and iShares, to trade options on the NYSE. This allows institutional investors to use options as a tool to hedge their Bitcoin positions. Options are derivatives enabling the buying or selling of assets at a fixed price within a set timeframe. BlackRock's BTC ETF recently received similar approval for options trading. Info here https://shorturl.at/Vpbux

⚡ Options are derivatives that allow the holder to buy or sell an asset, such as stocks or ETFs, at a predetermined price by a specific date. Check out the Blockchain DXB episode on this as we share our commentary on it

- We discuss what this means for BTC in the short term and long term.

- What role can BTC play in the rising USA's debt?

🚨The stablecoin market, currently valued at $172.7 billion, has seen a significant drop in transfer volumes since May 2024, declining from a peak of $3.6 trillion to $1.2 trillion in October. Despite some growth in the market's value, with stablecoins primarily issued on Ethereum (48.9%) and Tron (34.92%), transfer activity has slowed due to a shift in sentiment, reduced speculative trading, and regulatory pressures. Yield-bearing stablecoins like USDE are also being held longer as investment assets, contributing to the decline in active transfers. Info via Bitcoin.com here https://shorturl.at/c2MGX

😱Craig Wright has initiated a new legal battle, asserting that Bitcoin developers have strayed from the original vision of the cryptocurrency. He maintains that Bitcoin SV (Satoshi Vision) is the true version of Bitcoin. Wright's claim demands compensation from the defendants for the market valuation difference between Bitcoin and Bitcoin SV, totaling over $1.18 billion. Named in the lawsuit is Bitcoin Core, the developers of Bitcoin node software, and Jack Dorsey’s Square Up Europe Limited, a payment service that funded a Bitcoin Lightning Network company. Info here https://tinyurl.com/2nhknb3f

👀 Canadian Olympic snowboarder Ryan James Wedding has been charged in a cocaine trafficking scheme that allegedly used Tether (USDT) for transactions. The DOJ claims he and 15 others shipped cocaine from Colombia to the U.S. and Canada while committing multiple murders. Over $3.2 million in cryptocurrency and more than a ton of cocaine were seized. Wedding is on the run, with the Federal Bureau of Investigation (FBI) offering a $50,000 reward for his capture. via Decrypt here https://tinyurl.com/42r9rb8z

🟠 Two UAE news (See slides)

⚡ Cybirb to launch blockchain security services in ADGM

⚡ Dubai Police HQ,du partner to deploy cutting-edge AI solutions for enhanced security operations

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Blockchain DXB: Crypto & Coffee at 8 ☕ 21st Oct 🟠 SEC OKs 11 BTC ETFs for NYSE 🔻Stable coin Vol down to $1.2T 😱 Faketoshi legal battle against BTC developers 👀(Olympic + Cocane + Tether.io + Fed) 39:27 Share

Blockchain DXB

Shownotes Transcript

Blockchain DXB: Crypto & Coffee at 8 ☕ 21st Oct 🟠 SEC OKs 11 BTC ETFs for NYSE 🔻Stable coin Vol down to $1.2T 😱 Faketoshi legal battle against BTC developers 👀(Olympic + Cocane + Tether.io + Fed)