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The SEC has not crushed VanEck’s hopes of expanding indirect exposure to the crypto industry. Following a failed attempt at a spot Bitcoin ETF, the fund manager has filed for a fund linking to digital asset mining companies. The ETF will be 80% invested in securities from crypto mining businesses. Exposure To The Mining Industry According to VanEck’s application with the SEC yesterday, the mining companies included must generate at least 50% of their revenues from mining activity. Furthermore, the…

Musk managed to draw the ire of the broader crypto community again while delighting Doge holders. Elon Musk, CEO of Tesla and SpaceX, posted a series of tweets shading Ethereum and Web 3 while touting Doge. Unfortunately, his tweets managed to pump up Doge again for a while. On Thursday, Musk wrote that Web 3, a concept that's widely supported in the crypto community, "sounds like bs." The stance is extraordinary, seeing that his brother, Kimbal Musk, launched an autonomous…

The current and former chairmen of the Securities and Exchange Commission show little partisan disagreement. Earlier today, Democrat chairman Gary Gensler and his Republican predecessor Jay Clayton called on exchanges to register with the commission. Both justify their actions by the motivation to protect investor concerns, as Gensler commonly puts it. Register Or Else, Say SEC Chiefs The SEC chiefs aired their thoughts during a Fireside chat at the Digital Asset Compliance & Market Integrity Summit on Wednesday. The event…

After stepping down as Twitter’s CEO, rumors flourished about Jack Dorsey doubling down on building the Bitcoin network. Greater evidence of those suspicions has just emerged.  Dorsey’s digital payments company “Square” just announced a Facebook-esque rebranding to “Block”. The Bitcoin community has interpreted this as a public commitment to Bitcoin's “blockchain”. Square Goes Three-Dimensional The financial services company revealed its new name in a Twitter thread earlier today. Apparently, the company is preparing to give “the full square brand” to…

An ape NFT from "Bored Ape Yacht Club Tron," a Tron network "homage" to the original Bored Apes, sold for $15 million dollars. The person who bought it was none other than Tron network founder Justin Sun. Sun, a Chinese-American tech entrepreneur is also the CEO of BitTorrent, a popular torrenting app and a Chinese messaging app Peiwo. He claimed that his Joker-themed NFT, number 6666 in the Bored Ape Yacht Club Tron (BYAC Tron), is the most expensive Twitter…

Former hedge fund manager Raoul Pal said that Ethereum could finish the year above $10,000. However, he also thinks that there is a “decent chance” of “flipping” – referring to Ethereum becoming the most significant crypto by market cap, removing Bitcoin from first place. Moreover, he thinks that Ethereum’s competitors will do even better. Raul Pal is a former Goldman Sachs executive and co-manager or GLG, a London-based global macro hedge fund. He has since retired from his position and started…

As the Bitcoin-focused Jack Dorsey departs from Twitter, it appears his company is moving towards adopting other cryptocurrencies. A competent hacker recently dug into Twitter's code and unlocked a yet unannounced Ethereum-tipping feature. This follows a Twitter update from months ago that publicly enabled payment tipping through various methods, including Bitcoin. Ether Tips On Twitter? Jane Wong – a hacker famous on Twitter – quietly added her Ethereum tipping address to her account yesterday. Buzz began circulating as screenshot images…

Meta (formerly Facebook) has spent years building its digital wallet, “Novi”, with plans to launch its stablecoin cryptocurrency called “Diem”. However, David Marcus – board member of Diem and Head of Novi – recently announced that he is leaving the company. David Marcus Steps Down The co-founder announced his resignation over a Twitter thread on Tuesday, detailing his reasons for stepping down. He said he’d had a change of heart and that his “entrepreneurial DNA” is nudging him away from…

India may issue a blanket ban on all cryptos, statements from top officials indicate. However, the government is drafting a new bill that would allow for the private use of cryptos. Just last week, the country introduced a Cryptocurrency and Regulation of Official Digital Currency Bill 2021. The bill spooked investors, as it was identical to the draft of the 2019 bill to ban crypto. The bill wrote that it intended to "create a facilitative framework" for India's official digital currency. To…