Robinhood’s Crypto Beta, FTX Challenge, Bitcoin Miners Bet Big, BTC ETF Inflows + More News


Get your each day, bite-sized digest of cryptoasset and blockchain-related information – investigating the tales flying below the radar of immediately’s crypto information.


Adoption information

  • Investing app Robinhood announced that they may launch their crypto wallets of their beta section in mid-January 2022, which is able to roll out to hundreds of shoppers from the waitlist. They added that they noticed 1m waitlist sign-ups in lower than 30 days, and as of the announcement, greater than 1.6m folks have signed up for wallets.
  • FTX is calling on banks to achieve out and focus on the potential for accepting stablecoins in alternate for a USD 1m reward. The alternate mentioned it was exploring forming relationships with banks in numerous areas to permit customers to have “near-instant and near-free deposits and withdrawals” by means of stablecoins.

Mining information

  • Marathon Digital agreed to purchase 78,000 Antminer S19 XP Bitcoin (BTC) miners from Bitmain for USD 879.1m. A complete of 13,000 machines needs to be delivered every month from July to December 2022.
  • GEM Mining, a South Carolina, US-based BTC mining firm, mentioned it has deployed a fleet of 13,118 energetic miners producing BTC 6.5 per day. The firm additionally confirmed fully-funded buy orders, with internet hosting, for an additional 19,000 machines – all set for activation by the top of 2022. The firm mentioned it has mined BTC 560.9 since February 2021.

Investments information

  • The ProShares Bitcoin Strategy Exchange-Traded Fund (ETF) has taken in additional than USD 40m to date in December, its third straight month-to-month infusion, based on information compiled by Bloomberg. Also, traders have added USD 6.5m to the Valkyrie Bitcoin Strategy ETF for the reason that finish of November, additionally its third consecutive month of inflows, per the report.

Regulation information

  • A brand new USD 768bn protection coverage invoice within the US has eliminated “cryptocurrencies” from the US National Strategy Against Terrorism and Illicit Finance wording, per Forbes. This coverage place appears to de-emphasize the priority round or focusing on rising know-how, it added.

NFTs information

  • E11EVEN Partners, the model behind the well-known disco membership in Downtown Miami, purchased non-fungible token (NFT) Ape #11 of the Bored Ape Yacht Club for ETH 99 (USD 396,000 in the intervening time of the transaction). The NFT depicts a monkey wearing a crimson bathrobe, with a laurel wreath and smoking a cigarette.
  • Solana (SOL) Phantom pockets ditched its plans to promote dear NFT invitations for its iOS beta after taking heavy neighborhood criticism that it was successfully pricing folks out with USD 1,600 entry passes. It mentioned it is going to donate the now-canceled mint proceeds to charity, however the entry passes shall be changed with a “free” beta invite for 1,000 folks, a pointy decline from the 7,000 deliberate non-fungible tokens.

Metaverse information

  • ETFs issuer ProShares applied for an ETF targeted on the metaverse with the US Securities and Exchange Commission (SEC). The “Metaverse Theme ETF” would monitor the efficiency of the Solactive Metaverse Theme Index, which incorporates firms uncovered to the metaverse trade.

Legal information

  • Lawyers for Australian crypto mogul Greg Dwyer, of crypto alternate BitMEX, have satisfied a US decide to delay Dwyer’s trial for prices for breaching banking legal guidelines as a result of he had much less time to arrange for the proceedings after preventing extradition from Bermuda, per the Sydney Morning Herald.

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About the Author: Daniel