Crypto funds could reach $650 billion in assets with BlackRock ETF approval Alliance Bernstein reports that forthcoming bitcoin ETF approvals, among other trends, will drive crypto asset management to new heights within five years. The next five years might see up to $650 billion managed by the crypto fund management industry, according to a new research report released this week from broker Bernstein, which believes the arrival of spot bitcoin exchange-traded funds (ETFs) will play a pivotal role in increasing the size of the crypto fund management market. The report outlines how the digital assets industry will balloon from managing $50 billion of assets to as much as $650 billion, making it a significant player in the financial industry. Right now, the global crypto market capitalization sits at $1.08 trillion, but crypto has traditionally been treated as separate from the traditional banking and financial services industries. As it reaches mainstream adoption, it is expected that the amount of money channeled into crypto will explode, rivaling that of other sectors of the economy.  Although spot bitcoin exchange-traded funds (ETFs), which track the price of bitcoin, have not been approved yet, they are growing in popularity, as retail investors eye the potential investment vehicle as a way to acquire exposure to the volatile digital assets industry without directly owning seemingly risky assets. The participation of mainstream investors and companies will likely catalyze mainstream adoption, and the U.S. Securities and Exchange Commission (SEC) is currently reviewing multiple applications for ETFs. With deadlines looming, Bernstein predicts that the crypto industry may have an approval at any point between October 2023 and March 2024. #ETH #crypto2023 #cryptonews #Binance #DeFiChallenge

According to Cointelegraph: Gary Gensler, the chairman of the U.S. Securities and Exchange Commission (SEC), faced intense scrutiny and criticism of the agency’s policies and actions during a House Financial Services Committee hearing on September 27. A significant portion of the session tackled the SEC’s Staff Accounting Bulletin (SAB) 121, a measure published in March 2022 regarding the accounting and disclosure of crypto assets held by public companies. Critics, including Representative Mike Flood, took issue with the SEC’s process for publishing SAB 121. Flood highlighted that neither the Financial Accounting Standards Board (FASB) nor prudential regulators were consulted before the SAB’s release. He also revealed that at the time of SAB 121’s issuance, the FASB had not addressed digital asset custody standards. Furthermore, Flood disputed Gensler’s claim that SAB 121 provided guidance based on existing SEC rules, stating there were no specific rules on custody of digital assets when the bulletin was released. This discrepancy led Flood to assert that either the SEC knew there was no strong justification for issuing the guidance and did so anyway, or the issuance was a mistake. The SAB 121 has faced opposition since its release, with adverse responses from SEC Commissioner Hester Peirce, as well as letters of concern sent to Gensler by a group of senators and the Financial Services Committee members, claiming the bulletin was a form of disguised regulation. Apart from the SAB 121 discussions, topics such as the approval of spot Bitcoin exchange-traded funds, the SEC's handling of the Grayscale case, and an alleged lack of impartiality within the financial industry were covered during the hearing. Particularly notable were discussions on the interpretation of the Howey test, a standard used by the SEC to determine if an asset qualifies as a security.        

"SEC Chairman Gary Gensler Announces New Approach to Regulating Cryptocurrencies and Artificial Intelligence" At a hearing before the U.S. House Financial Services Committee scheduled for September 27, Securities and Exchange Commission (SEC) Chairman Gary Gensler will present an innovative regulatory approach. This change focuses on adapting SEC rules to the technological demands of the 2020s. Gensler highlights the SEC's expanded oversight of securities and exchanges in the United States, embracing artificial intelligence (AI) and predictive analytics of data as key tools. One of the most prominent topics at the hearing will be the regulation of cryptocurrencies. The SEC has previously been criticized for its “regulation by enforcement” approach, which some argue has held back innovation and adoption in the country. Gensler is committed to providing protection to investors and issuers in the “crypto asset securities markets.” Referring to the Securities Act of 1933, he emphasizes that most cryptocurrency tokens likely meet the “investment contract” test. Gensler emphasizes that the SEC's view that most cryptocurrencies are subject to securities laws means that intermediaries such as exchanges and brokers must comply with these laws. He notes that the sector as a whole has been guilty of “broad non-compliance with securities laws,” leading to enforcement action. The SEC has been working on rulemaking, such as the April 2023 reopening statement, which reaffirms the applicability of existing rules to cryptocurrency platforms. In addition to cryptocurrency, Gensler highlights the impact of AI and predictive data analytics on the economy. It recognizes its potential to increase efficiency and financial inclusion, but also points out the risks of exploitation. Gensler points to a July 2023 SEC proposal that would require companies to analyze and address conflicts of interest related to the use of predictive data analytics when interacting with investors. Gary Gensler's anticipated speech to the Financial Services Committee promises a significant evolution in cryptocurrency and AI regulation. While seeking to protect investors and promote economic efficiency, this new direction also poses challenges in terms of adaptation and compliance. The September 27 hearing will be crucial in determining how regulation will play out in these vital and ever-changing sectors. Disclaimer: The information presented does not constitute financial, investment, trading or other advice and is solely the opinion of the writer. Images are for illustrative purposes only and should not be used for making important decisions. By using this site, you agree that we are not responsible or liable for any loss, damage or injury arising from the use or interpretation of the information or images.

Want to watch Gary be questioned on why he hasn't approved a spot btc etf? Four members of the United States Congress are requesting Securities and Exchange Commission Chair Gary Gensler “immediately” approve the listing of spot Bitcoin. If you would like to watch it live, at 10 am est, you can do so here: here https://financialservices.house.gov/calendar/eventsingle.aspx?EventID=408978 Hearing Entitled: Oversight of the Securities and Exchange Commission. SEC Chair Gary Gensler is scheduled to appear before the House Financial Services Committee A bipartisan group of four committee members - two from each party - sent Gary a sternly worded letter today urging him to approve spot Bitcoin ETFs from Blackrock, Fidelity, and Grayscale ASAP. The pressure is building, and today could be a crucial moment in this matter. They had told Gensler there was “no reason to continue to deny” spot crypto ETF applications following the Grayscale court decision " A regulated spot bitcoin ETP would provide increased protection for investors by making access to bitcoin safer and more transparent,” said the letter. “Congress has a duty to ensure the SEC approves investment products that meet the requirements set out by Congress.” #Johnmiracleweb3 #BTC

What are some of the easiest and practical ways to earn money online? Earning money online can be a convenient way to supplement your income or even become your primary source of income. However, it's essential to approach online money-making opportunities with caution, as there are many scams and unreliable options out there. Here are some legitimate and relatively easy ways to earn money online: 1. Crypto Trading and Investments Invest in cryptocurrencies, or other financial instruments through online trading platforms. Keep in mind that this involves risk and requires knowledge. 2.Freelancing: If you have skills in writing, graphic design, web development, or any other field, you can offer your services on freelance platforms like Upwork, Freelancer, or Fiverr. Clients post jobs, and you bid on them based on your expertise and rates. 3.Online Surveys and Market Research: Some websites, like Swagbucks, Survey Junkie, and Vindale Research, pay users for participating in surveys, watching videos, or providing feedback on products and services. 3. Content Creation: If you're creative and enjoy making videos, you can earn money through platforms like YouTube, Twitch (for gaming and streaming content), or even Instagram if you have a large following. You can monetize your content through ads, sponsorships, and merchandise sales. 4. Affiliate Marketing: Promote products or services through affiliate programs like Amazon Associates, ShareASale, or CJ Affiliate. You earn a commission for every sale made through your referral link. 5. Online Tutoring and Teaching: If you have expertise in a particular subject, you can offer online tutoring or teaching services on platforms like VIPKid (for teaching English), Udemy, or Teachable. You can create and sell courses on a variety of topics. It's crucial to be cautious of scams and to research any opportunity thoroughly before investing time or money. Success often requires patience, persistence,and building skills or an audience over time #opbnb #ETH #BTC

According to Cointelegraph, the United States government could face a shutdown within the next week, which may impact the progress of several crypto bills awaiting a vote. House Speaker Kevin McCarthy is under pressure from his own party to make decisions on spending plans. In July, the House Financial Services Committee voted in favor of multiple crypto-focused bills, including the Financial Innovation and Technology for the 21st Century Act (FIT), the Blockchain Regulatory Certainty Act, the Clarity for Payment Stablecoins Act, and the Keep Your Coins Act. These bills could potentially reach a House floor vote in the current session of Congress. A government shutdown would halt lawmakers from moving forward on any legislation until they resolve the issue of funding the U.S. government into the next fiscal year. Ron Hammond, the Blockchain Association's director of government relations, said that the longer the shutdown lasts, the more various bills, including FIT/market structure and stablecoins, will be delayed. Some of the bills have bipartisan support and are likely to pass in floor votes, but there are political obstacles that could hinder their progress, such as differing approaches to stablecoin legislation by the two major parties. Lawmakers have until September 30 to reach an agreement on spending bills. A shutdown would effectively stop all federal agencies from performing non-essential tasks, including actions by the U.S. Securities and Exchange Commission and Commodity Futures Trading Commission overseeing digital assets. As of September 25, Speaker McCarthy was reportedly planning to introduce spending bills that include controversial measures, such as restrictions on abortion access and funding for a U.S.-Mexico border wall. The House of Representatives will convene on September 26 to address the issue, while the Senate is scheduled to consider its own stopgap funding measure.

These seven cryptocurrencies could explode in 2024. Find out which cryptocurrencies should be on your watch list for 2024.Key PointsThe crypto market is volatile, with Bitcoin and Ethereum facing significant price fluctuations and potential challenges.Factors like Federal Reserve warnings, BlackRock's ETF filing, and anticipated U.S. inflation data are influencing the market dynamics.Seven cryptocurrencies show promising potential to rise in prominence by 2024.The crypto industry is constantly shifting, as new participants enter and test established norms. Bitcoin and Ethereum have maintained their dominance in the crypto space, though numerous rivals seek to claim the lead. The pressing question for many is: Which crypto currency will overtake Bitcoin?What Is Going On With Bitcoin and Ethereum Price?The crypto market has seen significant fluctuations, particularly concerning Bitcoin and Ethereum. These two titans of the digital currency realm have seen price fluctuations that have left stakeholders and experts pondering their forthcoming paths.According to information from Forbes, Bitcoin, Ethereum, and additional digital currencies have witnessed a downward trend in their values over the recent months. This decline in confidence is attributed to warnings from the Federal Reserve expressing deep concerns. Bitcoin, which had seen a surge at the beginning of the summer, lost all its gains, and the broader Ethereum and crypto market followed suit. The market now teeters on the edge of its $1 trillion market capitalization, and Matrixport, a crypto services provider, has issued a warning of a potential further price crash.Furthermore, the gains observed in the crypto market were primarily driven by BlackRock's landmark spot bitcoin exchange-traded fund (ETF) filing in June. This was followed by legal victories of XRP developer Ripple and crypto asset manager Greyscale over the U.S. Securities and Exchange Commission (SEC). However, Markus Thielen, the head of research and strategy at Matrixport, has raised concerns about the fragility of the crypto markets. He highlighted the possible liquidity shortfall stemming from the forthcoming FTX financial unwinding, potentially leading to a transaction of $3.4 billion in digital assets from the faltering platform by year's end.The Cryptonomist has noted a marginal dip in the values of Bitcoin and Ethereum. These minimal movements are believed to be indirectly related to events in the traditional financial markets. The price of Bitcoin briefly fell below $25,600, marking a significant drop since its previous low on 7 September. Ethereum's price also experienced a dip, falling below $1,580, a level reminiscent of the sharp drop observed on 18 August.The markets are currently in anticipation of the U.S. inflation data set to be released, which could profoundly influence them. The Federal Reserve's monetary policy remains a significant factor that can impact the market, and any deviation from the expected inflation data could lead to sharp and sudden market reactions.7 Cryptocurrencies: Which Crypto Currency Will Overtake Bitcoin and Ethereum in 2024:These cryptocurrencies showcase significant potential and innovations, positioning themselves as strong contenders in the 2024 crypto space.DOGE (Dogecoin)Dogecoin has evolved significantly from its early days as a jest currency. Now, it holds a notable position in the digital currency arena. With a remarkable market capitalization of $15 billion and a price surge that has seen an increase of 67,846% since its inception, the impact of DOGE in the crypto world is palpable. As 2024 draws near, the anticipated growth trajectory for DOGE suggests that it could very well be the next crypto to explode.BNB (Binance Coin)BNB is not merely the native coin of the BNB Chain. It represents a beacon of innovation and adaptability in the vast sea of cryptocurrencies. The coin's central role in the BNB Chain highlights its potential to challenge, and possibly surpass, even the most established names in the crypto space. With its history of consistent growth and a penchant for strategic alliances, BNB is a cryptocurrency that warrants keen attention.XRP (Ripple)XRP sets itself apart with its distinct consensus mechanism, emphasizing real-time global payments. While it has faced its share of legal hurdles, its resurgence is powered by strategic partnerships with premier financial institutions. With an ambitious vision to spearhead the Internet of Value, XRP is on track to bring about a paradigm shift in global transactions, positioning itself as a prime contender in the crypto race.MASK (Mask Network)The achievements of MASK Network, especially its capacity to touch an all-time high amidst widespread market challenges, are truly noteworthy. The network's rigorous security measures and its proactive role in discussions about security breaches, especially concerning platforms like META, mark it as a potential game-changer. Advocating for online privacy and data ownership, MASK is a cryptocurrency that every investor should consider.AVAX (Avalanche)AVAX distinguishes itself from the vast expanse of coins and tokens with its emphasis on scalability and speed, particularly in the rapidly expanding DeFi sector. Its alliance with Amazon Web Services and its potential to reshape the DeFi landscape are significant points of interest. Having showcased a strong recovery in 2023, AVAX is positioning itself to be a dominant entity in the crypto world.ADA (Cardano)ADA's systematic, research-driven methodology aims to develop a blockchain that optimizes both security and scalability. Its projects, especially in Africa and its partnership with Ethiopia's Ministry of Education, underscore its global vision. With its commitment to low energy consumption, ADA is emerging as a potential rival to Ethereum's long-held supremacy.TRX (Tron)TRX's objective of creating a decentralized internet differentiates it from its peers. Its commendable throughput and scalability highlight its potential to ascend to the top of the crypto hierarchy. With its focus on a decentralized web and revolutionizing content sharing, TRX is a cryptocurrency that demands close observation.Bottom Line: The Next Crypto to ExplodeThe world of cryptocurrencies is dynamic, with new players constantly emerging and challenging established giants. While Bitcoin and Ethereum have paved the way, the seven cryptocurrencies highlighted here show immense promise. As we approach 2024, it's crucial to stay informed and watchful. The next crypto to explode might just be one of these seven, reshaping the crypto landscape forever. #crypto2023 #cryptocurrency #BTC

According to Cointelegraph, the European Union's financial services chief, Mairead McGuinness, believes there is no reason to rush the digital euro project until after the next European elections in June 2024. McGuinness suggests that the EU's central bank digital currency (CBDC) project should be approached 'quietly and slowly' by the next EU Commission, which will be appointed by the then-incoming parliament. During her speech at Brussels-based think tank Bruegel on September 6, McGuinness mentioned the European Central Bank (ECB) would be deciding the project's fate in October. She emphasized the need to explore the option of a digital euro as cash usage decreases and people increasingly rely on cards, phones, and e-commerce for transactions. In June, the European Commission proposed a legislative plan for a digital euro, which includes provisions for free essential digital euro services, privacy protection, and offline payments. Banks, insurers, and funds would have to share customer data with fintech companies in exchange for compensation. ECB executive board member Fabio Panetta has publicly supported the Commission's plan, calling the European CBDC 'a new paradigm for preserving monetary sovereignty'. The investigation phase of the digital euro project is expected to be completed by October 2023, after which the ECB will proceed with further development and technical solutions testing.

#XRP and another twenty-four tokens have lost their status as "approved tokens" that can be listed on exchanges. Only eight crypto assets were given the green light when the New York Department of Financial Services revised its virtual currency supervision system. The price of XRP has been creeping closer and closer to $$0.505, a crucial barrier that must be broken in order to launch a rebound surge. The price of XRP has been affected by macroeconomic factors since at least 2020. The token was slow to get the "greenlight," but the New York regulatory authority hopes to change that with new guidelines. Assault on $XRP by a New York state agency The New York State Department of Financial Services (NYDFS) has modernised its regulations governing virtual currencies. New requirements for crypto asset listing on exchanges were mentioned in the revision. Meanwhile, the NYDFS delisted 25 assets from its "greenlist" of safe tokens. There are currently 25 recognised cryptocurrencies, including XRP, DOGE, LTC, and more; BTC, ETH, and 6 others are still in the green. Circle's USD Coin (USDC) is the second largest stablecoin after Tether (USDT), however it is not on the "greenlist." The stablecoin wasn't even on the first list, so it's unclear why this determination has been so staunchly upheld. The NYDFS may investigate the token's listing on cryptocurrency exchanges if it has not been approved by the agency. When the Securities and Exchange Commission (SEC) initially launched its action against Ripple, this was an issue with XRP. As a result, XRP was delisted from multiple markets before being reinstated after Ripple's partial success. Given the present market conditions, another delisting might have a more adverse effect on the price. Potential downside for the XRP pricing There is risk for XRP investors if the delisting of tokens follows the New York Department of Financial Services' update. The cryptocurrency has lost all of its gains since mid-July, as shown by the larger market. The current price of XRP is $0.503, and if it were to break through the $0.505 resistance level and use it as support, it would go towards the 50-day Exponential Moving Average (EMA) at $0.XXX. Using this line again as support might help the asset's recovery along. The Relative Strength Index (RSI) is currently above 50.0, indicating that positive sentiment is more likely to persist. The support for XRP lies at $0.480, so if the breach doesn't work or external factors have a negative effect on the coin, the price might fall to that level. The bullish thesis would be disproved and additional losses would occur if the market fell through it.