🦎🚀 Bitcoin ETF On The Horizon?

Tuesday, July 11, 2023

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Uncharted Waters

Grayscale Investments, a crypto asset management company, is suing the U.S. Securities and Exchange Commission (SEC) for rejecting its bitcoin ETF application last year while approving a leveraged bitcoin-based ETF, arguing that the latter is "even riskier" than its "traditional" bitcoin-based futures ETF.

On the other hand, Former Chair Jay Clayton has stated that if the efficacy of a Bitcoin exchange-traded fund (ETF) is proven, it would be difficult for the SEC to resist approving it.

In today's news, Standard Chartered is revising its targets for BTC, Arkham Intelligence under fire, and Starbucks is introducing its next drop!

Read on!

Crypto Interest in Southeast Asia

Southeast Asia's interest in crypto is led by Singapore and Philippines this year, on a per capita basis.

On the other hand, smaller economies in the region only hold a combined 1.5% share of Southeast Asia's crypto interest.

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Secret Identity

Arkham Intelligence, a blockchain intelligence company, has unveiled its "world's first on-chain intelligence exchange" on Twitter. The platform allows users to trade and request data on the identities of crypto wallet owners.

However, the announcement received criticism from Crypto Twitter, with some dubbing it a "dox-to-earn program." Additionally, it was discovered that users who shared waitlist links for Arkham's service inadvertently exposed their email addresses on Twitter due to encoding issues.

Cointelegraph

Stamp Collecting Time!

Starbucks has revealed its upcoming NFT drop as part of its Odyssey program, featuring a specially designed Stamp by Aku. The NFT release will also include a generous donation of $100,000 to Blessings in a Backpack, a non-profit organization focused on addressing child food insecurity.

Starbucks has been progressively introducing limited-edition NFTs to members of its exclusive invitation-only Odyssey loyalty program, with previous collections such as "The Siren Collection" in March and "The Starbucks First Store Collection" in April.

CoinDesk

Up up and away

Standard Chartered, a global banking, and financial services company, has revised its Bitcoin price target from $100,000 to $120,000 before 2025

The updated price target is based on the belief that miners will influence the net supply of newly mined BTC. As miners become more profitable per BTC mined, they may sell less, reducing BTC's net supply and potentially driving higher prices.

The Block

Gecko Terminal Trending Pairs!