Crypto News Updates: Ripple Delays US IPO, JP Morgan CEO Advices Against Bitcoins

Crypto News Updates: Ripple CEO Brad Garlinghouse reveals delaying initial public offering (IPO) in the U.S. due to hostile US SEC. Ripple explored markets outside the U.S. for its IPO. Garlinhouse reiterated that SEC Chair Gary Gensler is a “political liability” despite approving spot Bitcoin ETFs last week.

The U.S. Treasury Department and Internal Revenue Service announced that businesses do not have to report digital assets transactions above $10,000 until the new regulations. The Infrastructure Investment and Jobs Act revised the rules that required taxpayers engaged in a trade or business to report cash receipts of more than $10,000 by considering digital assets to be cash.

The crypto market cap rebounded nearly 1% to $1.71 trillion on the back of altcoin price rise. Bitcoin price continues to trade range-bound and holds near $43,000, with a slight increase in trading volume. Among top altcoins Ethereum and Solana gain upside momentum. Ethereum price is trading at $2,578, up over 2% in the last 24 hours and SOL price jumps 4% to $100.

Meanwhile, JP Morgan’s Jamie Dimon warned investors about Bitcoins. In an interview, Dimon said “don’t get involved in Bitcoin” as his personal advice.

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11:01:52 PM IST, 17 January 2024

Crypto News Live: UN Calls Out AI Firms for Choosing Money Over Social Impact

UN officials claim that AI companies are starting to care too much about accumulating wealth at the expense of social impact, individual privacy, and human rights. He firmly believes that they should be investigated immediately since the IT industry is seriously at risk from what they are doing.

10:44:37 PM IST, 17 January 2024

Crypto News Live: U.S. Judge Call Secturities Act of 1933 Outdated

Judges in the SEC v. Coinbase case gave their opinion stating that the Securities Act of 1933 is out of date and prevents the use of emerging technology like cryptocurrencies.

10:31:30 PM IST, 17 January 2024

Crypto News Live: Bitcoin ETF Trade Volume Hits New Milestone

After four days of trade, the total trading volume of Bitcoin ETFs has surpassed $10 billion.

10:09:02 PM IST, 17 January 2024

Crypto News Live: BTC Whale Transfers Bitcoin Worth $133 Million Amid Rangebound Market

The market has been range bound amid a choppy session on Wednesday. However, a whale transaction saw 3,140 BTC valued at $133.1 million being moved to Coinbase from an unidentified wallet.

09:45:24 PM IST, 17 January 2024

Crypto News Live: U.S. Fed Remains Dicey Over New Bank Capital Rules

According to Yahoo Finance, this week, two representatives of the Federal Reserve offered modifications to the recently proposed bank capital guidelines by their own organization, intensifying the regulatory pressure to update the divisive specifications.

In a speech to the US Chamber of Commerce on Wednesday, Fed Governor Michelle Bowman made the case that the plan requires “substantive changes” and that regulators’ proposed rise in capital requirements could have a negative impact on the economy.

09:32:34 PM IST, 17 January 2024

Crypto News Live: VanEck Delists Bitcoin Strategy ETF

Citing investor interest and performance, VanEck announces the delisting of the Bitcoin Strategy ETF. The decision comes after shares of their spot Bitcoin ETF were approved by the SEC just one week ago.

09:19:02 PM IST, 17 January 2024

Crypto News Live: Crypto Investment Products Mark $424M in Outflows in a Week

The world of bitcoin investing has undergone a significant shift this week. Data from CoinShares indicates a significant withdrawal from cryptocurrency investment products, amounting to around $424 million as of Monday. This development indicates that investor preferences and strategies in the cryptocurrency market have undergone a substantial shift.

08:56:55 PM IST, 17 January 2024

Crypto News Live: Gemini Expands in France, Receives Regulator Approval

Gemini, a cryptocurrency exchange, has been given regulatory clearance to operate in France. CNBC reports that Gemini has been approved as a provider of virtual asset services in France by the AMF authority. An important step forward for an American cryptocurrency exchange in Europe is the approval.

08:44:08 PM IST, 17 January 2024

Crypto News Live: Grayscale Makes Hefty Bitcoin Transfer

Grayscale has made another bulk Bitcoin traction on Wednesday. Grayscale has sent an additional $800 million worth of Bitcoin to Coinbase.

08:26:05 PM IST, 17 January 2024

Crypto News Live: Binance Completes Quarterly Burning

The 26th BNB quarterly burning is finished, according to Binance’s release. Approximately US$636 million, or 2,141,487.27 BNB, were burned this period.

08:07:04 PM IST, 17 January 2024

Crypto News Live: AI Might Generate better Drugs, Says Novartis CEO

Novartis CEO on Wednesday gave his views on global healthcare and role of AI in developing it. In an interview, he said AI will impact productivity efforts in drug development and Maybe AI will generate a better obesity drug.

07:59:15 PM IST, 17 January 2024

Crypto News Live: IMF Turns Its Back On Bitcoin

Amid negative comments about using Bitcoin, IMF is the recent global institution to join the bandwagon. IMF Chief recently said that Bitcoin is not “exactly money”. The comments come at a time when market has just seen a relaxation of laws from Europe and a historical Bitcoin ETF approval.

07:43:30 PM IST, 17 January 2024

Crypto News Live: Terra Luna Garners Investor Attention as EVM Prospal Gets Nod

Recently, the Terra Classic community announced a huge milestone for their token as the Terra commune moves forward with its EVM proposal, attracting a lot of interest from the larger cryptocurrency market. The commune has opened up the Terra platform to EVM (Ethereum Virtual Machine), according to a recent statement, with the goal of offering notable benefits soon.

07:22:28 PM IST, 17 January 2024

Crypto News Live: QCP Capitals Sees ETH Outperform BTC in Near Future

As the focus shifts to possible Spot ETF approvals, QCP Capital anticipates that ETH will continue to outperform BTC over the medium term. Additionally, BTC forwards have decreased more than ETH forwards since the debut of the BTC spot ETF.

07:05:47 PM IST, 17 January 2024

Crypto News Live: Goerli Testnet Marks a Dicey Debut

On the Goerli testnet, the Ethereum Dencun upgrade was released on Wednesday, however it did not finish in the allotted amount of time. After the validators went back online, the chain resumed its finalization process, with a sizable quantity of blobs having been submitted to the network.

06:52:48 PM IST, 17 January 2024

Crypto News Live: Studies Find 1 Out of 10 People in El Salvadore Use Bitcoin

El Salvadore has emerged as a country with a rapidly growing digital assets use. A recent university study finds 1 in 10 El Salvador residents have used Bitcoin for payments.

06:42:34 PM IST, 17 January 2024

Crypto News Live: Pre-Market, Valkyrie Bitcoin ETF (BRRR) Climbs 12%

Today’s pre-market trading session saw an amazing increase of more than 12% for the Valkyrie Bitcoin ETF (BRRR). This represents a notable recovery following four days in a row of falls since the start. As for the other Spot Bitcoin ETFs, they continued to fall.

06:23:40 PM IST, 17 January 2024

Crypto News Live: BlackRock Now Posses Bitcoin ETFs Worth $707 Million

In value of nearly $707 million, BlackRock now possesses 16,361 Bitcoin for its spot Bitcoin ETF. It still remains higher than a lot of its competitors.

06:01:08 PM IST, 17 January 2024

Crypto News Live: Jamie Dimon Takes Shocking Jib on Bitcoins

Jamie Dimon of JP Morgan warns “don’t get involved in Bitcoin” as his personal advise.

05:48:33 PM IST, 17 January 2024

Crypto News Live: The GBTC Gouge is Big and Ugly: Bloomberg Analyst

The GBTC Gouge is large and ugly, according to a Bloomberg analyst. Eric Balchunas says the good news is that the percentage…