Global Hive Buzz

BlackRock Submits Application for Ethereum Spot ETF with SEC

BlackRock, the world's largest asset manager, has initiated the process by filing a Form S-1 registration for a spot Ethereum ETF with the U.S. Securities and Exchange Commission (SEC).

During Gary Gensler's tenure as SEC chair, he consistently refrained from confirming whether the regulator categorizes Ethereum as a security or a commodity. However, back in 2018, while serving as a professor at MIT, Gensler mentioned that the SEC deemed the cryptocurrency "sufficiently decentralized," thus excluding it from the classification of a security. During that period, Gensler seemed to align with the stance expressed by the SEC's former Director of Corporate Finance, William Hinman, in his influential "sufficiently decentralized" speech delivered in June 2018.

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US Presidential Candidate Vivek Details Pro-Crypto Policy Vision

Presidential candidate Vivek Ramaswamy unveiled his "Three Freedoms of Crypto" policy framework at the North American Blockchain Summit in Texas today. His vision is centered on fostering innovation and safeguarding liberties in the crypto industry by reforming regulations imposed by administrative agencies.

Ramaswamy's 'Three Freedoms' framework encompasses the freedom to code, financial self-reliance, and the freedom to innovate. Regarding the freedom to code, he emphasized that "code is speech" and argued that while the government can prosecute wrongdoers, it should refrain from targeting code developers.

Ramaswamy also criticized SEC chair Gary Gensler for not offering clear guidance on whether major tokens like ETH are securities. He pledged that, under his administration, explicit rules would be established upfront, rather than relying on SEC enforcement decisions made after the fact.

Tether Unveils $500 Million Investment for Bitcoin Mining Expansion

Tether, the entity behind the leading stablecoin USDT, intends to allocate approximately $500 million in the next six months for the establishment of mining facilities and acquiring interests in other mining companies, according to Paolo Ardoino, Tether’s Chief Technology Officer.

Presently, Tether is actively constructing Bitcoin mining sites in Uruguay, Paraguay, and El Salvador, with the objective of controlling 1% of Bitcoin's total computing power necessary for the network's operation. While no specific timeframe was provided, this move comes as Marathon Digital Holdings, the largest public Bitcoin miner, accounts for approximately 4% of the network's computing power.

Tether anticipates reaching 120 megawatts (MWs) across its mining operations by the conclusion of 2023, aiming to scale up to 450 MW by the end of 2025. To achieve this, the company plans to allocate roughly $150 million towards direct mining investments.

Major Shift in Smartphones After 15 Years

Let's change the narrative: Apple's latest iPhone has hit the market with a staggering $1599 price tag. What does this hefty price offer? More colors? Meanwhile, a formidable contender aims to transform your phone from an expense to a source of income. An intriguing concept, isn't it? This is why we're closely watching the launch of Mode Mobile’s Pre-IPO Offering. It marks the latest development in a series of noteworthy funding rounds among smartphone innovators, likely influenced by Apple's recent $3 trillion valuation.

Early supporters are securing up to a 70% bonus in stock, and a substantial 12,997 shareholders have already participated in previously sold-out allocations. Don't hesitate—claim an exclusive 70% bonus at $0.16/share before it's also sold out.

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