Hong Kong Launches Asia’s First Inverse Bitcoin ETF Amidst Volatile Market Conditions

by Theresa Joy Lacatan | Jul 25, 2024 | Blog News, Crypto News

CSOP Asset Management on 22 July 2024 announced the launch of Asia’s first inverse Bitcoin exchange-traded fund (ETF), the CSOP Bitcoin Futures Daily (-1x) Inverse Product, set to debut on Hong Kong’s stock exchange on Tuesday. This innovative financial product...

Elon Musk Unveils World’s Most Powerful AI Training Cluster

by Theresa Joy Lacatan | Jul 25, 2024 | AI News, Blog News

Elon Musk’s venture, xAI, has commenced training its large language model (LLM), Grok, on what he claims is the world’s most powerful AI training cluster. On July 22, 2024, Musk announced that the Memphis Supercluster, located in Memphis, Tennessee, is equipped...

Keith E. Cassidy Named Interim Acting Director of SEC’s Division of Examinations

by Theresa Joy Lacatan | Jul 25, 2024 | Blog News, Crypto News

The Securities and Exchange Commission, on 22 July 2024, announced that Richard Best, the Director of the Division of Examinations, will take leave from the agency to focus on his health, effective immediately. In response to this, Keith E. Cassidy, the Division’s...

Marathon Digital Ordered to Pay $138 Million for Breach of Contract, Reflecting Challenges in Upholding Ethical Standards in Crypto Industry

by Theresa Joy Lacatan | Jul 25, 2024 | Blog News, Crypto News

According to a judgment dated July 19, 2024, a federal court jury in Los Angeles has awarded Michael Ho $138 million after finding Marathon Digital Holdings Inc., the largest Bitcoin mining company by market capitalization, guilty of breaching a...

Ethereum Exchange-Traded Funds Set to Launch Amid Market Optimism and Speculation

by Theresa Joy Lacatan | Jul 24, 2024 | Blog News, Crypto News

The much-anticipated launch of Ethereum exchange-traded funds (ETFs) in the United States will take place tomorrow, following the Securities and Exchange Commission’s (SEC) final approval for trading on July 22, 2024. This event marks the introduction of...

Japanese Crypto Industry Urges Government for Immediate Tax Reforms

by Theresa Joy Lacatan | Jul 23, 2024 | Blog News, Crypto News

On July 19, 2024, the Japan Blockchain Association (JBA), an influential body representing leading Japanese crypto exchanges and blockchain companies, formally petitioned the government to implement significant tax reforms related to cryptocurrencies. The JBA aims for...