Grayscale Investments, in a truly inspired moment of ‘why-not’, has filed for an IPO. They’re testing U.S. public markets with the same enthusiasm most people use when doing their taxes, expecting a friendlier regulatory climate because they’ve finally started looking both ways before crossing the street to talk to regulators.
To put it in terms even your Aunt Agatha could understand: Brian Armstrong’s brainchild, which relies on crypto prices and trading volumes like a chap relies on his morning tea, is looking decidedly wobbly.
Ripple, that once-buoyant vessel, now lists perilously. XRP, down 5% in a day, languishes 40% below its July zenith of $3.65. A tragedy, or merely a farce? The market, ever indifferent, shrugs. 🤷♂️
Openledger, a name that screams “trust us, we’re ethical!”, has partnered with Cambridge’s Blockchain Society-a group that probably still thinks “blockchain” isn’t a solution in search of a problem. This “long-term program” (read: five-year experiment in futility) aims to make AI less of a “closed black box” by… using blockchain? The technology that invented the modern black box? 🤹♂️
Okay, so Ethereum is currently doing that thing where it kinda just… hovers. Like a slightly anxious hummingbird. It’s near some “key support levels,” which, let’s be real, is crypto-speak for “please don\’t fall any further.” We\’ve been seeing a lot of volatility, which, honestly, is just a fancy word for “panic selling.” 📉
Analysts, those modern-day prophets of chaos, divide like factions in a madhouse. Some shriek of a bear market’s advent, citing “weak momentum” and “short-term losses”-as if numbers could divine the inscrutable heart of BTC. Others, wide-eyed, whisper of consolidation’s virtue: “Behold, a coiled spring! A surge beyond all-time highs awaits!” 🐻 (Spoiler: They’ve said this since 2017.)
XRPM, trading under the CUSIP 032108375, will debut with a modest net asset value of $750,000 and a mere 30,000 shares on the market. A bold move, no doubt. With a total expense ratio of 0.75 percent, the fund will allow traditional finance to get a slice of the XRP pie, without, of course, dealing with the nuisance of holding the asset itself. And rest assured, according to Cboe, the ETF is totally compliant with the Exchange Act of 1934, so no one can claim this is some kind of wild west operation (well, unless you count crypto).
BeInCrypto sat down with some experts (because, why not?) to figure out why DePIN, crypto’s most useful kid, can’t get any love. Spoiler alert: it’s complicated. 🤷♂️
From North Korea’s “cyber ninjas” (read: hackers in hoodies) to Russian mobsters moonlighting as North Korean weapons dealers, the globe’s worst villains are ditching briefcases for Bitcoin. The Sinaloa cartel? They’re just here for the blockchain buffet. 🌮🔪
So, here’s the deal: crypto trader James Wynn is like, “Don’t buy Zcash. It’s a pump and dump by these influencers. You know, the ones who probably have a spreadsheet of who to sell to next.” 🤡💸
