Bitcoin Dips,Spot Bitcoin ETF, Metaverse Projects and much more..
Good Morning FinTech, 13 November
Hello My Inspired Online Family :)
Been traveling last week to Texas and took me a while to get back in shape, and here we are with another weekly newsletter. We have grown to 2500 newsletter subscribers, greatly appreciate all the organic growth, please sign up if you have not already:-
Let’s look at the market for the week, Bitcoin and Ethereum is on the move apart from the weekend when the market took a dip.
SEC Rejects VanEck's Spot Market Bitcoin ETF
The SEC again denies a "true" Bitcoin ETF from entering the market.
Following a series of delays, the U.S. Securities and Exchange Commission rejected investment firm VanEck's application to launch an exchange-traded fund that directly tracks the price of Bitcoin.
In its ruling, the SEC again cited concerns that the Bitcoin spot market is prone to "fraud and manipulation." To date, the Commission has only allowed Bitcoin ETFs linked to futures, contracts that bet on the future price of Bitcoin and which are regulated by the CFTC, to move forward.
Facebook is quietly buying and building up the metaverse
Facebook's hunger for deals has ranged from Giphy, which allows you to insert humorous GIFs into your social media postings, to Kustomer, a business software startup for Facebook's corporate clients, in the last couple of years. However, the majority of them have been focused on one area: gaming and virtual reality. Which makes sense, given that Zuckerberg has stated that gaming and virtual reality, collectively known as "the metaverse," are the future of Facebook.
Here is a list of top solid projects in crypto related to online gaming, virtual reality and metaverse:-
Ethereum Name Service Market Cap Hits $1 Billion—Just Days After ENS Airdrop
The Ethereum Name Service airdropped ENS tokens and kickstarted its DAO on November 8.
For Those Unfamiliar ENS is the Web 3 equivalent to the domain name system.
ENS airdropped its own governance token to users on Monday, reaching a market capitalization of $586 million that same day. Yesterday, it hit $1 billion—and that's just one of several positive metrics for the service. Individual ENS tokens are currently selling for just under $60.
Anyone who had an ENS name by October 31 can receive the ENS governance tokens at any point until May 4, 2022, and become a member of the DAO.
Discord CEO Walks Back Crypto Wallet Hint After Community Backlash
Just 3 days after hinting at a crypto integration, the CEO of Discord has walked back comments following outrage from the Discord community.
On November 8, Jason Citron, the CEO and founder of social messaging platform Discord, tweeted an image featuring the Discord layout and an integration with crypto wallets MetaMask and Wallet Connect.
Now, just a few days later, he has walked back this seemingly harmless hint, adding that Discord has “no current plans to ship” this crypto wallet integration.
Another user responded to the initial tweet with “don’t make me do it, Jason,” adding a screenshot showing a user canceling their Nitro subscription. Across the more than 3,000 replies, a number of users have followed suit in threatening to cancel their subscriptions.
Elon Musk Has Sold $5B Worth of Tesla Shares Following the Twitter Poll
Just a few days after the completion of the Twitter poll, in which Elon Musk asked his followers whether he should sell 10% of his Tesla stock, the billionaire has sold in total nearly five million shares, recent SEC filings showed.
The billionaire asked his millions of Twitter followers if he should dispose of 10% of his shares, and the majority answered with “yes.”.
Musk asserted that he will abide by the poll’s results, and it seems he has made good on that promise.
This was Musk’s first sale of Tesla stock since 2016 and third in total since the company became public in 2010. As of now, the billionaire is left with nearly 170 million shares.
Apple CEO Tim Cook Says He Holds Crypto
Apple CEO says he owns crypto, but the company doesn't have any plans to invest in the asset class.
at the New York Times DealBook Online Summit, CEO of Apple Tim Cook stated his personal opinions about owning crypto.
“I think it’s reasonable to own it as part of a diversified portfolio,” he said.
Cook said that he had been interested in cryptocurrency “for a while” and that he had been researching the topic.
Cook said that his interest was from a “personal point of view” and dismissed suggestions that Apple might take cryptocurrency in exchange for products as tender or buy it with corporate funds.
Disclaimer: This is not financial advice or recommendation for any investment. The content is for informational purposes only, you should not construe any such information or other material as legal, tax, investment, financial, or other advice.
Do you think Apple would also be coming up with Tokens like Metaverse for their products? If not, will they lack behind in technology in coming future?