Author: Yeek.io

Homepage > News > Finance > UK: Digital asset staking is not collective investment scheme The United Kingdom Treasury, the government department responsible for finance and economic policy, has amended finance laws to clarify that digital asset staking is not a collective investment scheme, thus allowing proof-of-stake (PoS) blockchains to avoid—for now—the more onerous regulatory requirements that come with that label. In a January 8 order, the Treasury amended a section of the Financial Services and Markets Act 2000 (FSMA) related to group investments, adding that “arrangements for qualifying crypto asset staking do not amount to a collective investment scheme.” It…

United States-based Osprey Funds is gearing up to convert its Bitcoin trust into an exchange-traded fund after an acquisition deal with Bitwise fell through. The investment management firm said in a Jan. 14 statement that it would file a Form S-1 with the U.S. Securities and Exchange Commission “as soon as practicable” to convert the Osprey Bitcoin Trust (OBTC) into an ETF. Launched in February 2021, OBTC offers investors exposure to Bitcoin without the complexities of direct investment, such as managing wallets or keys. The fund carries a management fee of 0.49%, making it one of the lowest-cost solutions of…

Synthesia, a trailblazing AI startup specializing in creating lifelike video avatars or business use, raised a staggering $180 million in its latest round of funding. The achievement cements Synthesia as one of Britain’s leading AI companies and further sets it apart as the AI space grows. Record-Breaking Valuation and Strategic Investments: This funding round has taken Synthesia’s valuation to a whopping $2.1 billion, double its valuation last year in 2023. The funding round was led by NEA Management and included participation from Atlassian Ventures and Penny Pritzker’s investment vehicle. Existing investors GV and MMC Ventures also showed renewed confidence in…

Drop in new addresses was indicative of the wider lack of ETH demand Price action and Coinbase Premium pointed towards firm selling pressure in recent weeks Ethereum [ETH] has shed 12.44% of its value in the last 30 days, compared to Bitcoin’s [BTC] losses of 4.74% at press time. In fact, ETH has struggled to defend key support levels in the ;ast six weeks. Its affinity to the $3k level and thereabouts has given rise to many jokes made at the expense of ETH holders and bulls. Despite the bearish sentiment, however, whale accumulation has continued. The $30 million withdrawal…

Syria’s economy is in a bad state, to put it very mildly. Not only has the Middle Eastern nation been battered by over a decade of war, the Assad regime, which has been in power since 1971, has now been overthrown by a jihadist group. The conflict, which began in 2011, has devastated infrastructure, displaced millions, and led to economic sanctions from Western nations. These factors have crippled the local economy and trade, leading to severe inflation. The Syrian pound (SYP), which was once relatively stable, has lost over 99% of its value since the war began whilst hyperinflation has…

The SEC announced it needs additional time to review the proposal thoroughly. The goal of the Bitwise 10 Crypto Index Fund is to monitor the market value performance of the top ten cryptocurrencies. Major participants in the fund include, among others, XRP, Ethereum, Solana, and Bitcoin.On November 14, 2024, the NYSE Arca submitted the plan to the SEC. No comments have been submitted since it was posted for public comment in the Federal Register on December 3.The SEC’s original deadline for a ruling was January 17, 2025. But it has extended the review period to consider the probable effect of…

One of the more popular proposals for implementing smart contracts differently from the way they are typically presented in Ethereum is through the concept of oracles. Essentially, instead of a long-running contract being run directly on the blockchain, all funds that are intended to go into the contract would instead go into an M-of-N multisig address controlled by a set of specialized entities called “oracles”, and the contract code would be simultaneously sent to all of these entities. Every time someone wants to send a message to the contract, they would send the message to the oracles. The oracles would…

Top NFT Collections (Last 24h) Here are the hottest NFT Collections of the day. Rank Name Volume Transactions Chains URL 1 Azuki 1,569.30 ETH 121 ethereum View 2 CryptoPunks 1,045.97 ETH 26 ethereum View 3 Azuki Elementals 602.78 ETH 313 ethereum View 4 Pudgy Penguins 592.62 ETH 25 ethereum View 5 Doodles 312.66 ETH 65 ethereum View 6 DXNK 292.00 ETH 1052 ethereum View 7 BEANZ Official 286.27 ETH 340 ethereum View 8 Lil Pudgys 147.97 ETH 59 ethereum View 9 Mutant Ape Yacht Club 142.52 ETH 53 ethereum View 10 Azuki Elemental Beans 138.12 ETH 48 ethereum View The…

To address inefficiencies in price discovery in centralized finance and over-the-counter markets, Wintermute co-founder Yoann Turpin calls for more DeFi adoption. In a social media post, Yoann Turpin, the co-founder of Wintermute, an algorithmic trading platform that focuses on building liquidity in digital asset markets, called out the challenges that come with price discovery in the crypto industry.  Turpin claims that centralized exchanges like Binance engage in private arrangements between big buyers and sellers, creating risk in how consumers interact with different projects across the crypto ecosystem, skewing market opportunities in favour or larger players. “The role of a market maker is to…

The world of decentralized compute is expanding, and Spheron is taking another giant leap toward reshaping the future of Web3 infrastructure. With the launch of Stellar Phase III, we’re inviting 50,000 pioneers to join the decentralized galaxy and become part of the world’s largest decentralized compute network. Let’s dive into what Stellar Phase III brings to the table and why you don’t want to miss this opportunity. Why Stellar Phase III? The Fizz Node journey began with Phase I: OG Fizzers, where 5,000 nodes formed the foundation of our decentralized network. Phase II, Lunar Fizzers, onboarded 25,000 participants to test…