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The Daily: Gary Gensler to leave SEC on Jan. 20, regulator now 'engaging' on spot Solana ETFs and more

SEC Chair Gary Gensler will step down on Jan. 20, 2025, coinciding with the start of President-elect Donald Trump’s term, according to a statement released by the agency on Thursday. The SEC is now “engaging” with applicants on spot Solana ETFs, Fox News reporter Eleanor Terrett first reported, citing two people familiar with the matter, and confirmed by The Block with a source at one issuer. U.S. spot Bitcoin ETFs surpassed $100 billion in combined assets under management on Wednesday — representing around 5% of bitcoin’s total market cap — driven by the cryptocurrency’s ongoing price rally. The following article is adapted from The Block’s newsletter, The Daily, which comes out on weekday afternoons.

theblock.co • 21/11/2024 - 19:06 PM

BITCOIN

Bitcoin dominance hits 57% as its price rises past the $90,000 level

The current market structure shows interesting divergences from previous cycles. The following is an excerpt from The Block’s Data and Insights newsletter.

theblock.co • 21/11/2024 - 17:22 PM

US spot bitcoin ETFs surpass $100 billion in assets amid bitcoin's record rally

The total net asset value of the 12 spot bitcoin ETFs in the U.S. reached $100.55 billion on Wednesday. Bitcoin has repeatedly hit all-time highs over the past few weeks — currently trading at around $97,094.

theblock.co • 21/11/2024 - 09:12 AM

ETH-to-BTC price ratio drops to lowest since March 2021 as bitcoin surpasses $97,700

The ether-to-bitcoin price ratio dropped to 0.032, a level last seen in March 2021. Bitcoin has been rewriting record-high prices, currently trading at around $97,770. Ether has been underperforming amid the rise of Bitcoin and Solana this year.

theblock.co • 21/11/2024 - 05:37 AM

Bitcoin breaks above $95,000 for the first time as post-election momentum continues

The price of bitcoin hit the $95,000 level for the first time ever on Wednesday night on Coinbase, marking a new all-time high. The price of the world’s largest cryptocurrency is now up 110% in 2024.

theblock.co • 21/11/2024 - 00:57 AM

MSTR trading volumes surge after MicroStrategy's biggest bitcoin purchase

MicroStrategy's stock trading soars after a massive bitcoin purchase, becoming the most traded stock in America, surpassing major assets and showing significant year-to-date gains.

theblock.co • 20/11/2024 - 22:57 PM

The Daily: FTX co-founder Gary Wang avoids prison time, BlackRock's Bitcoin ETF sees unprecedented first-day options trading and more

FTX co-founder Gary Wang avoided prison time at a sentencing hearing on Wednesday, according to Inner City Press and Reuters. BlackRock’s IBIT spot Bitcoin ETF achieved nearly $1.9 billion in notional exposure during its first day of options trading on Tuesday. Bernstein analysts named Robinhood the top “crypto deregulation trade,” following Donald Trump’s election win this month, raising their HOOD share price target to $51 — around 45% upside potential. The following article is adapted from The Block’s newsletter, The Daily, which comes out on weekday afternoons.

theblock.co • 20/11/2024 - 18:54 PM

MicroStrategy upsizes convertible senior note offering to $2.6 billion to acquire more bitcoin

MicroStrategy has upsized its latest convertible senior note offering from $1.75 billion to $2.6 billion. The firm intends to use the net proceeds from the offering to “acquire additional bitcoin and for general corporate purposes.”

theblock.co • 20/11/2024 - 14:02 PM

The Daily: Trump nominates pro-bitcoin Lutnick for Commerce Secretary, Metaplanet shares jump 15% after latest BTC acquisition and more

President-elect Donald Trump has nominated the crypto-friendly Howard Lutnick to lead the U.S. Department of Commerce. Shares in the Japanese investment firm Metaplanet gained more than 15% on Tuesday after the company announced its latest bitcoin acquisition. Tokenization firm Securitize has introduced the “sToken,” a new way to gain liquidity from real-world assets while still earning a yield, using the ERC-4626 token standard. The following article is adapted from The Block’s newsletter, The Daily, which comes out on weekday afternoons.

theblock.co • 19/11/2024 - 20:31 PM

Coinbase to delist wBTC as Justin Sun gains influence over protocol, launches its own wrapped bitcoin token

Coinbase will suspend trading of wBTC on December 19, 2024, amid changes in the wBTC protocol influenced by Justin Sun and following BitGo's new custody arrangements.

theblock.co • 19/11/2024 - 18:02 PM

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