Crypto Market Cap | Tether faces $42M in fines & Square plans to build Bitcoin mining system | Market Color – CrossTower
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- Proshares Bitcoin Strategy ETF approved as of Friday 16:14:50.
- Report circulating that Grayscale Investments plans on filing an application to convert the biggest bitcoin fund into a spot ETF early this week, according to a person with knowledge of the matter.
- The CFTC has fined Bitfinex and Tether more than $42 million on allegations the USDT stablecoin was not fully backed, at all times and that Bitfinex violated a previous agency order.
- Blockchain journalist Colin Wu tweeted the data from Glassnode as of Sunday, the number of Bitcoin addresses holding 1,000 Bitcoins or more is at a record low of 82.
- Treasury’s Office of Foreign Asset Control (OFAC) has released a new brochure with crypto-specific guidance on navigating U.S. sanctions.
- Square CEO Jack Dorsey tweeted that Square is considering building a Bitcoin mining system based on custom silicon and will be open source for individuals and businesses worldwide.
- BTC.com, the mining pool subsidiary of BIT Mining, will exit mainland China in response to the ongoing crackdown on the crypto industry in the country.
- Bakkt Holdings (digital asset platform) has completed its merger with VPC Impact Acquisition Holdings, Intercontinental Exchange (ICE), in a deal valued at 2.1 billion.
- China gdp growth coming in weaker and still big overhang from evergrande and other real estate development.
- Significant dispersion in alt coins as traders rebalance and jump between coins.
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