597:Bitcoin ETFs, Gensler's Rumored Resignation, and Russian Crypto Rules

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2 years ago
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Overnighters,

Episode 597:
Bitcoin Spot ETF Updates
CBDC Alert(Global)
HK”s Web3 Task Force
and More

The TL;DL

Bitcoin Spot ETF Updates - Major financial entities are refiling their applications for Bitcoin Spot ETFs, with Coinbase named as the market for surveillance-sharing agreements. The SEC's approval is still pending, and the outcome of this race remains uncertain.

Gensler’s Resignation Rumors - The cryptocurrency community is abuzz with rumors surrounding the potential resignation of SEC Chair Gary Gensler. Despite the speculation, Gensler's departure seems unlikely as his tenure continues to be marked by a push for robust crypto regulations.

Russian Crypto Concerns - In Russia, converting Bitcoin into fiat currency is now considered a potential form of money laundering. Additionally, pro-Russian crypto donations for military groups have surged, highlighting the increasing role of cryptocurrencies in global conflicts.

HK’s Web3 Task Force - Hong Kong has established a task force dedicated to promoting Web3 development. This move signifies Hong Kong’s commitment to staying at the forefront of technological advancements and its aspiration to become a Web3 hub.

Poly Network’s Worthless Hack - The Poly Network was recently exploited by attackers who manipulated the system to issue billions of tokens that didn't exist. Despite the magnitude of the hack, the attacker was only able to convert a small portion of these tokens, underscoring the need for robust security measures in the crypto industry.

CBDC Alert(Global) - There is a global surge in the exploration of central bank digital currencies (CBDCs), with 130 countries currently investigating this new form of currency. Despite skepticism in various countries, the potential benefits of CBDCs cannot be overlooked, but concerns about privacy and potential misuse persist.

Crypto Overnighter Podcast (7/2/2023): Welcome back to the Crypto Overnighter with your host, Nikodemus. We provide nightly updates on cryptocurrency, NFTs, the metaverse, and the surrounding industry. Remember, this show does not offer financial advice.

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