China News by Thebittimes.Com

On Tuesday, April 21, Paul Atkins was sworn in as the new chairman of the Securities and Exchange Commission (SEC). On Thursday, April 24, the SEC will hold a closed meeting — and many are speculating, could it augur the conclusion of the longstanding Ripple v. SEC case? Sunshine Act notice regarding the April 24 SEC meeting. Source: SEC Despite Ripple Labs Chief Executive Officer (CEO) Brad Garlinghouse’s March 19 announcement that the case was concluded, a binding, legal resolution has not yet been reached.  In the meantime, XRP has experienced negative price action. The token’s price has decreased by 17.64% from a post-announcement high of $2.55 down to $2.10 at press time, with year-to-date (YTD) gains standing at 0.83%. XRP price year-to-date (YTD) chart. Source: Finbold While the token has found a strong zone of support at $2, without a bullish catalyst, a breakout above the crucial $2.20 level of resistance seems unlikely. Let’s examine the likelihoo...

Bitcoin (BTC) has been trading in a tight range since February, currently at $69,370, with cryptocurrency traders eagerly awaiting the Federal Open Market Committee (FOMC) meeting on June 12 to set the Federal Reserve’s interest rate target. Historically, the FOMC meetings and interest rate decisions have significantly impacted Bitcoin‘s price. Finbold provided technical analysis and finance market projections context to ChatGPT-4o for a BTC price prediction ahead of June 12. Within this context, OpenAI‘s flagship artificial intelligence (AI) model predicts Bitcoin will trade between $68,000 and $73,000. However, a rate cut or hints of an upcoming cut could propel BTC above its range. ChatGPT-4o forecast places the leading cryptocurrency between $73,000 and $75,000 or beyond in this unlikely economic scenario. Picks for you ...

Bloomberg Intelligence ETF research analyst James Seyffart reports that BlackRock and Grayscale, two major investment major companies with plans to issue a Bitcoin ETF, have recently met with the SEC. Based on slides that have become public knowledge, Seyffart shows that BlackRock likely prefers in-kind for their offering. In-kind vs. cash In highlighting this announcement, the analyst suggests that this decision makes sense as it is likely the cleanest structure for the company and its investors. The news came alongside a consecutive report that Grayscale, another prominent investment management firm, has also held meeting s with the SEC’s division of trading and markets, responsible for approving or denying 19b-4, a form that is used to inform the SEC of a proposed rule change. Looks like @BlackRock also met with SEC! There’s a couple slides in relation to in-kind vs cash creation. Based on this it looks like BlackRock prefers in-kind for their #bitcoin ETF (makes sense as its...