Nfts
Crypto NFT Today: Week 2 of January
Welcome to another edition of Crypto NFT Today! The last two weeks have been full of must-see events that will determine the future of blockchain, cryptocurrency, and NFTs.
With eleven new Bitcoin spot ETFs approved, Bitcoin prices plummeting after SEC social media account hacked, and much more, there’s plenty of essential news you should know. So let’s go ahead and see what happens!
Eleven new Spot Bitcoin ETFS approved
On January 10, the United States Securities and Exchange Commission has approved the first U.S.-listed exchange-traded fund (ETF) that tracks bitcoin, marking a milestone for the largest cryptocurrency and the broader crypto industry.
The Securities and Exchange Commission (SEC) has given the green light to 11 applications, including those from BlackRock, Ark Investments/21Shares, Fidelity, Invesco and VanEck. The move, despite warnings about associated risks, is expected to begin trading on January 11.
Bitcoin Crashes After SEC Account Hack
Bitcoin experienced a decline Late in the afternoon on January 9, the SEC posted a misleading social media post regarding the U.S. Securities and Exchange Commission’s X account, which falsely claimed to have approved exchange-traded funds ( ETF) in bitcoins. The post was quickly deleted, with the SEC clarifying that his X account had been compromised and that no such approval had yet taken place.
Initially rising to $47,901, the highest since March 2022, bitcoin fell to $44,816.94. It ultimately traded down more than 1% at $46,162.79.
THE @SECGov Account X has been compromised and an unauthorized post has been made. The SEC has not approved the listing and trading of Bitcoin spot exchange-traded products.
– United States Securities and Exchange Commission (@SECGov) January 9, 2024
Turkish Crypto Regulations Close to Finalization
Mehmet Simsekthe Turkish Minister of Treasury and Finance, told a local media that the final stages of the process cryptocurrency regulation are in class.
To obtain a license from the CMB, crypto exchanges must meet specific operational requirements, covering aspects such as founders and directors, organizational tasks, capital requirements and IT infrastructure obligations. Şimşek emphasized that the main objective is to strengthen security in the crypto industryeliminate potential risks and promote the development of blockchain technology and crypto asset ecosystem.
X starts removing NFT profiles
When X introduced the feature allowing paid subscribers to exhibit non-fungible tokens (NFTs) as hexagonal profile photos in January 2022, the cryptocurrency and NFT markets were at the peak of their popularity. Big brands rushed to launch NFT collections, and prices for top NFTs skyrocketed into the millions.
Two years later, the cryptocurrency landscape has has undergone significant changes. X has quietly removed the NFT profile photo option from its premium Blue subscription, reflecting the current disenchantment with digital collectibles.