On August 30, $Bitcoin (BTC.CC)$Please use your Futubull account to access the feature.$Ethereum (ETH.CC)$ a slight increase, bitcoin is now at $59,367, and ethereum is at $2,529.
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Trump: preparing to announce a plan to make the United States the global "cryptocurrency capital".
US Republican presidential candidate Trump announced that he will introduce a plan to ensure the US becomes the "global capital of crypto." Trump posted on social media on Thursday but did not reveal any details. The video he shared also included a decentralized financial project recently promoted by his sons. Trump said in the video: "This afternoon (morning of the 30th Beijing time), I will present my plan to ensure the US becomes the global capital of crypto."
Musk and Tesla have won the dismissal of a lawsuit accusing them of manipulating Dogecoin.
According to Reuters, Elon Musk and his electric car company Tesla have successfully won the dismissal of a federal lawsuit. The lawsuit accused them of defrauding investors by exaggerating the value of cryptocurrency Dogecoin and engaging in insider trading, resulting in billions of dollars in losses. U.S. District Judge Alvin Hellerstein in Manhattan issued the ruling on Thursday night.
However, Hellerstein stated that Musk's tweets about Dogecoin being the future currency of Earth, being able to buy Tesla cars with it, or having his company SpaceX send it to the moon, were "idealized and exaggerated, not facts, and are easily exaggerated," meaning that no rational investor could rely on those tweets to bring a securities fraud lawsuit and thus, the market manipulation and insider trading allegations brought by investors are "incomprehensible." Hellerstein dismissed the lawsuit on the grounds of bias, meaning it cannot be brought again. Initially, investors sought $258 billion in damages and amended their complaint four times in two years. When seeking to dismiss the lawsuit, Musk's lawyers stated that his "harmless and often foolish tweets" were not a problem. They also stated that there was no evidence that Musk had two wallets for suspicious transactions or that he or Tesla had ever sold Dogecoin.
An independent miner mined a block worth 3.275 bitcoins, valued at about $0.2 million, in the early morning.
According to mempool data, at 00:21 Beijing time on today morning, an independent miner mined a block worth 3.275 bitcoins at block height 858978, equivalent to $199,098.
Cboe has submitted a revised application for the listing of Bitcoin and Ethereum spot ETF options.
According to Cointelegraph, Cboe Exchange has submitted a revised application for the listing of Bitcoin and Ethereum ETF options to regulators, based on two regulatory documents dated August 28. The documents show that Cboe is seeking the listing of options on Bitcoin and Ethereum ETFs issued by asset management companies, including Fidelity, 21Shares, Invesco, VanEck, Grayscale, Bitwise, BlackRock iShares, and Valkyrie.
According to the information in the Bitcoin and Ethereum options documents, the proposed rule change will classify cryptocurrency spot ETFs along with commodity-based ETFs (such as Goldman Sachs Physical Gold ETF and iShares Silver Trust Fund) as "securities suitable for options trading." Earlier, Nasdaq announced on August 27 that it plans to list Bitcoin options linked to the CME CF Bitcoin Real-Time Index (BRTI). In August, NYSE and Nasdaq withdrew four Bitcoin options listing applications submitted to the U.S. Securities and Exchange Commission (SEC). On August 8, Cboe withdrew an earlier application for the listing of Bitcoin ETF options. Bloomberg predicts that Bitcoin spot options will be listed in the fourth quarter of this year.
The US House of Representatives plans to hold multiple cryptocurrency hearings in September to discuss issues such as DeFi and SEC enforcement.
According to CoinDesk, the US House Financial Services Committee plans to hold a series of cryptocurrency hearings in September to delve into several aspects of the industry, including decentralized finance (DeFi), regulation of digital asset business by the US Securities and Exchange Commission (SEC), and the impact of pyramid schemes. The committee's chairman, Republican Congressman Patrick McHenry, who will retire at the end of this year, stated that one of his top priorities for the remainder of his term is to pass cryptocurrency regulation legislation. The first hearing, scheduled for September 10, will be a subcommittee review of DeFi, including proposed rules from multiple federal agencies, such as the SEC and the Internal Revenue Service (IRS), which could have a life-or-death impact on DeFi projects.
On September 18, two hearings will be held, one on SEC enforcement practices and the other on the impact of pyramid schemes. The full committee hearing on September 23 could have the biggest impact on cryptocurrency, with the SEC expected to testify. It is said that the House committee will seek testimony from SEC Chairman Gary Gensler and other commissioners at the same hearing, which is an extremely unusual practice. At the same time, lawmakers are also negotiating legislation to limit the agency's jurisdiction over digital assets in order to give the Commodity Futures Trading Commission (CFTC) a greater role to play.
Bitcoin mining firm Iris Energy has set a new record with mining revenue reaching $0.1841 billion, a 144% increase year-on-year.
According to The Block, $Iris Energy (IREN.US)$ the company's quarterly financial report released as of June 30, 2024, showed that its annual bitcoin mining revenue reached a record high of $0.1841 billion, a 144% increase year-on-year. During this period, the company's self-mining power almost doubled from 5.6 EH/s to 10 EH/s, and mined a record-breaking 4191 bitcoins. IREN expects to achieve a mining power target of 20 EH/s next month and reach 30 EH/s by the end of 2024. In addition, the company reported $3.1 million in revenue from its AI cloud business for the first time. Despite rising electricity and operational costs, IREN's net loss has decreased from $0.1719 billion last year to $29 million.
World Liberty Financial, a new cryptocurrency project launched by Donald Trump, claims to offer high-yield investment opportunities.
Former US President Donald Trump launched a new cryptocurrency project called World Liberty Financial, claiming to offer "high-yield" investment opportunities. According to the metadata on the project's website, this platform is the "only crypto DeFi platform endorsed by Donald J. Trump" and aims to connect users with the best tools in the decentralized finance (DeFi) space for secure "high-yield" crypto investments. The website encourages users to "join the financial revolution now!" The trademark for this platform was filed in mid-July by attorney Alex Golubitsky, who confirmed its connection to Trump's cryptocurrency plans.
Trump and his son Eric have been promoting this new platform as Trump's latest venture into the cryptocurrency space. Additionally, Trump has also launched his fourth NFT series, hoping to continue the success of previous crypto collectible sales. Trump promises to turn the United States into a "global crypto capital" if elected president again. The news office of World Liberty Financial has not yet commented on the matter.
Analysis: Currently, altcoins as a whole are following the trend of Bitcoin, indicating short-term market stability.
CryptoQuant analyst Joao Wedson posted on social media that there is currently a positive correlation between altcoins and Bitcoin. This behavior indicates the consistency of the crypto market, as altcoins move in sync with Bitcoin, reflecting investors' confidence in the overall market. One important historical fact to note is that when the Average Altcoin Correlation approaches negative values, it has been a warning sign for Bitcoin and the entire market in the past.
This negative correlation typically occurs when altcoins are significantly outperforming Bitcoin, often signaling a potential downturn in Bitcoin's price, which calls for caution from investors. Overall, altcoins still exhibit a positive correlation, suggesting that despite individual differences, they are following the trend of Bitcoin. This behavior reinforces the idea of current short-term market stability, but it is important to remain vigilant and identify potential deviations that may indicate higher risks.
The Japan Cryptocurrency Business Association (JCBA) has proposed reducing the highest income tax on personal cryptocurrency assets from 55% to a uniform 20%.
At the "WebX" international Web3 conference in 2024, the Japan Cryptocurrency Business Association (JCBA) discussed reforms to the cryptocurrency tax system. JCBA proposed four tax reform suggestions, including changing the highest income tax on personal cryptocurrency assets from miscellaneous income (up to 55%) to separate declaration taxation (uniform 20%). Experts emphasized the importance of further regulatory measures taking into account the unique nature of cryptocurrency assets and called for public participation in the discussion on tax reforms. The conference also discussed the possibility of treating cryptocurrency assets as transfer income and how tax reforms can promote cryptocurrency investment and innovation.
Editor/Somer