Syz the moment

Shortly after the market close on Tuesday, the SEC's X account posted an announcement that it had approved bitcoin ETFs to begin trading, something that has been widely anticipated by the crypto market. That post was made by an imposter and was deleted soon after. About 15 minutes after SEC's imposter post, SEC chair Gary Gensler said from his X account that no bitcoin ETFs had been approved. “The SEC’s @SECGov X/Twitter account has been compromised. The unauthorized tweet regarding bitcoin ETFs was not made by the SEC or its staff,” an SEC spokesperson told CNBC. The price of bitcoin briefly spiked after the initial post, but then quickly slid below $46,000. Source: Bloomberg, CNBC, HolgerZ

ETH/BTC

Source: Watcher Guru

He already bought 2x $4mm today. Source: CC15Capital

The move comes at a time when the global cryptocurrency industry has been caught in the crosshairs of the U.S. securities regulator on alleged violations of securities laws. Could it be that BlackRock has been buying Bitcoin throughout the whole bear market using this PRIVATE trust?

As a reminder: The single most important event for Bitcoin is the halving. Satoshi Nakamoto coded Bitcoin to half the reward payouts to miner's every 210,000 blocks. This event occurs approximately every four years and is a form of artificial inflation control, similar to a central bank printing less money. The halving ensures that the total supply of Bitcoin caps at 21 million, making it a deflationary asset. In simpler terms, as more time goes on, less and less Bitcoin are created. Every other fiat currency in existence is inflationary in nature. As more time goes on, more are created, thus making the currency you hold less valuable. This is what separates Bitcoin from everything else and why many believe that is is a digital store of value. As a function of economics and as Bitcoin's adoption rate grows, this means that demand will most likely outpace supply by a wide margin. The chart below shows past halving events and their market impact. Source: Jacob Canfield

-> Binance CEO Changpeng Zhao has agreed to step down from his role at the world's largest crypto exchange as part of a settlement with the U.S. Department of Justice. -> He also plans to plead guilty to violating criminal U.S. anti-money-laundering requirements that would potentially allow the exchange to keep operating, people familiar with the matter have told the Wall Street Journal. -> Zhao will appear in federal court in Seattle on Tuesday to enter his guilty plea, the sources told the news outlet. Binance, the international crypto exchange that Zhao founded and owns, will plead guilty and pay $4.3 billion in fines and settlements with authorities. It's amazing how US markets keep pricing cuts. When the Minutes reiterate, yet again, that while the Fed are cautious they still have a tightening bias. Source: Decrypt

Source: Steno Research