The following article is adapted from The Block’s newsletter, The Daily, which comes out on weekday afternoons.
Happy Thursday! Well, President Trump's talk at the FII Priority event in Miami yesterday evening did offer a small morsel of crypto content that the community had been waiting for, helping bitcoin to rebound somewhat — though it was largely a reiteration of his previous remarks.
In today's newsletter, JPMorgan warns of near-term downside risk as bitcoin and ether futures face weak demand, Brazil is set to launch the world's first spot XRP ETF, Tether leads $10 million fundraising for MANSA and more.
Meanwhile, the SEC has launched a new unit focused on protecting investors against fraud in crypto and AI.
Let's get started.
JPMorgan analysts have warned of near-term downside risk in the crypto market amid weakening institutional demand for CME bitcoin and ether futures.
Hashdex is expected to launch the world's first spot XRP ETF on the B3 exchange after gaining approval from Brazil's securities regulator, local media reported.
MANSA raised $10 million in funding led by stablecoin issuer Tether to expand its cross-border payment services.
Japanese investment firm Metaplanet has bought an additional 68.59 BTC for $6.6 million, expanding its total holdings to 2,100 BTC — reaching 0.01% of bitcoin's total 21 million supply for the first time.
Crypto investors saw an average gain of $5,482 in 2024 — a significant increase from 2023's $887 average gain, according to cryptocurrency tax platform CoinLedger.
Never miss a beat with The Block's daily digest of the most influential events happening across the digital asset ecosystem.
Disclaimer: This article was produced with the assistance of OpenAI’s ChatGPT 3.5/4 and reviewed and edited by our editorial team.
Disclaimer: The Block is an independent media outlet that delivers news, research, and data. As of November 2023, Foresight Ventures is a majority investor of The Block. Foresight Ventures invests in other companies in the crypto space. Crypto exchange Bitget is an anchor LP for Foresight Ventures. The Block continues to operate independently to deliver objective, impactful, and timely information about the crypto industry. Here are our current financial disclosures.
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