The "Something Else" That's Blocking Gensler From Approving BTC Spot ETF
In a bold statement, Cathie Wood suggests that if SEC's Gary Gensler doesn't greenlight the spot Bitcoin ETFs soon, there might be hidden agendas at play. This comes at a critical juncture where the crypto community eagerly awaits regulatory decisions that could shape the market's future.
In This Episode:
- Gary Gensler's approval of a spot Bitcoin ETF is imminent
- Blackrock says USDT and USDC stablecoins pose risks to Bitcoin
- Blackrock also holds a signficant stake in Circle, will they eat their own lunch and launch their own stablecoin like JPM did?
- $600M in Bitcoin Open Interest wiped out
- US Inflation falls to 3.2% which is slightly below expectations
Meanwhile, Blackrock, a financial behemoth, raises concerns about the impact of major stablecoins like USDT and USDC on Bitcoin's stability. Interestingly, Blackrock's significant investment in Circle, the company behind USDC, sparks speculation. Will they follow JPMorgan's footsteps and launch their own stablecoin, potentially disrupting the market?
In a dramatic turn of events, a whopping $600M in Bitcoin Open Interest has been wiped out, signaling a significant market shift. Adding to the intrigue, US inflation rates have dipped to 3.2%, slightly below expectations, fueling optimism among investors.
As we delve into these developments, several key indicators hint at the dawn of a new bull market. Join us as we unpack these exciting developments and their potential implications for the future of Bitcoin and the broader crypto landscape!
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This seriously hard , how come are the USDT and USDC a likely threat to Bitcoin ; It's that Bitcoin can't initiate own stablecoin outside own community ? Hope this won't brings about nature of regulations that will further alter the very essence of crypto in the first instance
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