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SEC delays decision on 7RCC Spot Bitcoin and Carbon Credit Futures ETF

  • SEC postpones decision on 7RCC Spot Bitcoin and Carbon Credit Futures ETF to June 24, 2024.
  • The ETF plans to invest 80% in Bitcoin and 20% in Carbon Credit Futures-linked financial instruments.
  • Gemini has been named custodian for the ETF.

The United States Securities and Exchange Commission (SEC) has announced a delay in its decision regarding the 7RCC Spot Bitcoin and Carbon Credit Futures ETF, a proposed exchange-traded fund focused on carbon credit futures contracts and Bitcoin (BTC).

The delay was announced in a filing made on Thursday and it extends the timeline for the U.S. SEC to evaluate the proposed exchange-traded fund until June 24, 2024.

During the extended timeline, the SEC aims to thoroughly review the proposal before making a final determination, citing the need for sufficient time to consider the potential impacts of the proposed rule change.

The 7RCC Spot Bitcoin and Carbon Credit Futures ETF

The 7RCC Spot Bitcoin and Carbon Credit Futures ETF plans to allocate 80% of its assets to Bitcoin and the remaining 20% to financial instruments linked to Carbon Credit Futures. This unique investment strategy aims to provide investors with a diversified portfolio that encompasses both digital assets and environmental sustainability.

The ETF’s approach is aligned with the evolving landscape of finance, offering a single-trade solution for those seeking exposure to both innovative technologies and progressive environmental initiatives. Gemini, a leading crypto exchange, has been named as the custodian for the ETF, signalling a significant partnership in the burgeoning digital asset space.

The postponement news reflects the ongoing scrutiny and evaluation by regulatory bodies like the SEC in navigating the intersection of traditional finance and emerging technologies.

As the deadline approaches, stakeholders eagerly await the SEC’s decision, which will have implications for the future of investment opportunities in both the digital asset and environmental sectors.

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Animoca Brands “comes to Bitcoin” with OPAL Protocol

  • Animoca Brands says Bitcoin is ready for Web3.
  • The blockchain gaming giant will collaborate with Darewise and OPAL Protocol to launch a new era for gaming, DeFi and Web3 on BTC.
  • BLIF, a new token of the OPAL Protocol, will power the ecosystem.

Animoca Brands, a leading blockchain gaming company with a huge presence across the market, has announced its entry into the Bitcoin ecosystem.

The Hong Kong-based company’s huge announcement came via a post on X on Tuesday.

Among other details, Animoca Brands said it “is coming to Bitcoin” and that the pioneer blockchain network is “ready for Web3.”

In this quest to dominate the new era of Bitcoin gaming, Animoca Brands is tapping into the OPAL Protocol, a new ecosystem on Bitcoin that’s powered by the BLIF token.

“BLIF will be the OPAL Protocol Runes token, powering a true digital life on Bitcoin and beyond,” the company noted on X.

Animoca Brands portfolio companies ready to join project

Animoca Brands and metaverse company Darewise back OPAL Protocol and are poised to collaborate to make this “the largest Web3 ecosystem” built on Bitcoin.

The project will encompass gaming, entertainment, decentralised finance (DeFi), education and culture, according to details the Animoca team shared on Tuesday.

Already, six Animoca Brands portfolio companies have reportedly joined the initiative as genesis members. They include AAA massively multiplayer online (MMO) game Life Beyond, digital collectibles platform Magic Eden, Bitcoin Web3 wallet Xverse and developer platform Horizen Labs.

In addition, Animoca plans to partner with OPAL on all of its upcoming Bitcoin-based projects.

“Animoca Brands’ vision for the #openmetaverse harnesses the power of network effects and this truly resonates with the OPAL Protocol, a truly decentralized Foundation with a Special Council. Any company eager to join the movement can apply to become a member of OPAL and build with $BLIF,” the announcement on X reads.

Members of the special council include Animoca Brands’ Yat Siu, BRC-20 creator Domo and Darewise CEO Ben Charbit. Others are Leah Wald, Herve Larren and David Bailey.

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SEC sues Bitcoin miner Geosyn Mining for fraud; Bitbot presale nears $3M

  • SEC sues Geosyn Mining and co-founders for misappropriated funds and misleading investors.
  • Bitbot revolutionizes crypto trading with a non-custodial Telegram bot.
  • The $BITBOT presale nears $3M presale with the token poised to rise from the current $0.0171 to $0.018.

The Securities and Exchange Commission (SEC) has filed charges against Bitcoin miner Geosyn Mining, LLC, and its co-founders, Caleb Joseph Ward and Jeremy George McNutt, for allegedly defrauding investors out of $5.6 million.

Meanwhile, Bitbot, a non-custodial Telegram trading bot, is on the verge of hitting $3 million in its presale.

Let’s delve into the details of these developments.

SEC’s charges against Geosyn Mining and its co-founders

According to the SEC’s complaint, filed in a federal court in Texas, Geosyn raised approximately $5.6 million from over 60 investors between November 2021 and December 2022.

According to the U.S. SEC, the company allegedly misled investors by falsely claiming to purchase, maintain, and operate crypto mining machines, promising to distribute mined assets, such as Bitcoin, to investors for a fee. The SEC alleges that Geosyn made false claims about its contracts with electricity providers, failed to disclose that it never purchased some mining machines, and did not provide the services as promised.

Moreover, Ward and McNutt are accused of misappropriating about $1.2 million for personal use.

The SEC seeks permanent injunctions, disgorgement with prejudgment interest, and civil penalties against Ward and McNutt.

Bitbot: a Telegram bot revolutionizing crypto trading

While the U.S. SEC goes after Geosyn Mining LLC,  Bitbot, an innovative non-custodial Telegram trading bot that aims to democratize crypto trading is making waves with its token presale.

Besides its token presale, Bitbot offers users institutional-grade tools in a secure and easy-to-use package, allowing them to trade directly from Telegram while maintaining control of their assets. It integrates with self-custodial wallets, ensuring users retain complete control over their keys and assets.

The platform employs KnightSafe, a decentralized security system, to safeguard trading activities. It provides a range of trading tools, including automated sniping, limit orders, copy trading, and yield optimization, accessible to users of all trading experience levels.

Bitbot presale nears $3 million

In recent developments, Bitbot’s presale is rapidly approaching the $3 million mark. The presale, which offers investors the opportunity to acquire $BITBOT tokens, Bitbot’s native utility coin, has garnered significant interest from the crypto community raising a total of $2,900,178 by the time of writing.

Investors can purchase the $BITBOT token at the current price of $0.0171 per token before the price increases to $0.018 in the next stage.

Investors can participate in the presale by importing or creating a smart contract wallet directly via Telegram and once the presale period concludes, investors can claim their $BITBOT tokens via Bitbot’s official website.

$BITBOT token holders stand to benefit from revenue sharing, exclusive presale access, unique perks, a say in Bitbot’s strategic direction through governance, and more.

Conclusion

SEC’s legal action against Geosyn Mining highlights the importance of regulatory compliance in the crypto industry, while Bitbot’s presale success underscores the growing demand for innovative trading solutions in the crypto market.

As Bitbot continues to revolutionize crypto trading, investors eagerly anticipate the platform’s future developments and expansion.

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Arthur Hayes says macro setup favours Bitcoin bulls as KangaMoon attracts investors

  • Arthur Hayes is bullish on crypto amid the macro setup that he says could present a golden opportnity
  • He says altcoins as well as presale tokens may be worth a look at as crypto exits latest window of weakness
  • KangaMoon (KANG) is one of the new projects attracting huge attention as its presale noves towards a close

Arthur Hayes believes the crypto market is set to continue on the upside, pointing to the macro setup and the sovereign debt bubble. The Maelstrom family office head, is also bullish on altcoins and new token launches that he says present a “golden opportunity” after the recent crypto weakness.

With the market likely to flip bullish in coming months, could this be the time to take advantage of the KangaMoon (KANG) presale?

Arthur Hays explains bull market setup and potential opportunities

BitMEX exchange co-founder and former CEO Arthur Hayes is bullish on crypto rebounding after the recent dip, noting that prices could “get sillier on the upside.” This, he argued in his “Left Curve” blog post, could be a ‘golden opportunity” for investors to add to their positions.

In his opinion, the market is currently exiting “the window of weakness” that likely followed the April 15 US tax payments and the recent Bitcoin halving event.

While the factors that drove Bitcoin price from zero to $70k over the past decade may not be the same ones at play in the future, Hayes says the macro setup and the fiat liquidity surge that fueled BTC’s staggering gains can only get more pronounced, particularly as “the sovereign debt bubble begins to burst.”

“As we enter the northern hemispheric summer and decision-makers enjoy a respite from reality, crypto volatility will decline. This is the perfect time to take advantage of the recent crypto dip to slowly add to positions,” the BitMEX co-founder noted.

Altcoins pounded during the latest dump, new token launches and presales are all likely to offer great entry points. These opportunities could materialise over the next few months.

KangaMoon brings GameFi and SocialFi to meme world

KangaMoon (KANG) is a new SocialFi and play-to-earn gaming project currently in presale.

The project, which also taps into meme culture to spice up the epic game battles, has a strong pull due to what the native $KANG token offers to holders. With KangaMoon, the opportunities to earn more $KANG and other exclusive rewards are available right from the presale stage. 

Kangaverse is the GameFi platform’s ecosystem for contests and tournaments. $KANG holders can access these chances to earn more tokens through weekly, monthly and quarterly competitions and game challenges.

What makes KangaMoon a potentially great opportunity?

What makes KangaMoon a potentially great investment opportunity is its current presale price. $KANG’s value during the five stages of the token sale has increased from $0.005 to $0.0196, meaning early birds are looking at about 280% upside on the price.

However, the current price is also likely to be a great entry point given market predictions for Bitcoin and the altcoin sector. Analysts are also bullish on play-to-earn, while meme coins may see a new leg of interest.

A look at KangaMoon’s performance as stage 5 of the presale nears a close shows a great deal of confidence in the project from early investors. KangaMoon has raised more than $5.2 million so far, with the final stage 48% sold out.

Investors can take advantage of the 20% bonus available on all purchases to load up on what could be the next top big thing in SocialFi and P2E.

To learn more or buy $KANG, visit the official KangaMoon website.

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K33 Research cautions Mt. Gox’s imminent $9B payout could impact Bitcoin (BTC)

  • Gox to distribute 142,000 BTC and 143,000 BCH, valued at over $9 billion, to creditors.
  • The payout process could commence as early as next month.
  • All eyes are on the impact of the payout on Bitcoin and Bitcoin Cash price especially after the bitcoin halving event.

Mt. Gox, once a major player in the cryptocurrency exchange scene, faced a devastating hack in 2014, leading to its collapse. Now, nearly a decade later, the defunct exchange is preparing to distribute a significant sum of digital assets including approximately 142,000 Bitcoin (BTC) and 143,000 Bitcoin Cash (BCH), amounting to over $9 billion in total, to creditors.

This impending payout has prompted concerns among market observers, with K33 Research highlighting the possibility of a negative impact on the price of Bitcoin in a report released on Tuesday.

According to the analysts, the influx of Mt. Gox coins into the market could create downward pressure on BTC valuation in the coming weeks.

Possible implications for Bitcoin (BTC) price

K33 Research analysts have highlighted concerns that the influx of Mt. Gox’s digital assets into the market could exert downward pressure on Bitcoin’s price in the coming weeks. While creditors may not immediately liquidate their assets, the anticipation surrounding the payout could instil caution among investors, potentially dampening market sentiment.

Creditors recently received updates on their BTC and BCH claims, indicating that payments could commence sooner than initially anticipated. This development, coupled with the looming deadline set by Mt. Gox trustees for reimbursements, has intensified speculation within the crypto community.

Market observers remain divided on the potential impact of Mt. Gox’s payout on Bitcoin’s price. While some believe that creditors may opt to hold onto their funds, others fear that the sheer volume of digital assets entering the market could trigger a sell-off, leading to a temporary downturn in prices.

Despite the uncertainty surrounding Mt. Gox’s payout, the crypto market continues to show resilience in the face of external pressures. However, investors are advised to exercise caution and closely monitor developments related to the distribution process to mitigate any adverse effects on their portfolios especially according to the K33 Research analysts warning.

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