As crypto news sources report, the market watches as bitcoin and ether rise, awaiting what the SEC will say about Bitcoin ETFs.
Bitcoin’s price is up by 0.8%, now at US$25,871. Ether has a slight 0.2% gain, at US$1,629, says CoinGecko data.
All global digital currencies have a combined value of US$1.08 trillion.
This month, cryptocurrency prices have stayed stable, says André Franco from MB. He thinks only surprise good news can change this.
Vitalik Buterin, Ethereum’s creator, says centralization is a key challenge. Franco notes that Lido, a staking provider, now controls many of Ethereum’s validators.
Circle has launched its USD Coin on Base blockchain and Optimism mainnet. Stablecoins like these often serve for payments in the crypto world.
Brian Armstrong, Coinbase’s head, is speeding up global growth plans. Lack of clear U.S. laws is the reason.
He aims for the EU, UK, Canada, Brazil, Singapore, and Australia.
The Base blockchain faced a 30-minute stop due to delayed blocks. No user money was at risk, developers say.
Finally, the IMF and the G20’s FSB have issued a joint paper. It calls for clear rules on digital currencies because of their risks.
They warn that the mass use of private digital currencies could affect financial rules.
Context
Bitcoin started in 2009, created by an unknown person using Satoshi Nakamoto. It was the first cryptocurrency, a digital or virtual form of money.
Ether followed in 2015, introduced by a young programmer named Vitalik Buterin. It operates on the Ethereum network, which allows more than just digital currency.
ETFs or exchange-traded funds, are a type of investment fund. They hold assets like stocks or bonds but trade on stock exchanges.
The U.S. SEC, or Securities and Exchange Commission, regulates these types of financial products. They haven’t approved any Bitcoin ETFs yet, which keeps investors on edge.