Get Smarter About Crypto

₿itcoin reached $47,510. +5.42%

♢Ethereum reached $2,515. +3.89%

What we will talk about today...

💹🚀 Bitcoin and S&P 500 Reach New Highs Together.

🚀🔒 Ark Invest and 21Shares Change Their Ether ETF Plan.

💢🔍 US Treasury Warns About Crypto’s Bad Side in 2024 Report.

Bitcoin and S&P 500 Reach New Highs Together

Bitcoin and the S&P 500, a measure of U.S. stocks, both hit new records on February 9. Bitcoin went above $46,000, and the S&P 500 reached 5,000 points. This shows that both crypto and stocks are doing very well.

🚀 Bitcoin’s Rise With Stock Market Success

Bitcoin gained more than 2%, trading at $46,365 on Bitstamp. This is the highest level since U.S. Bitcoin ETFs started. Bitcoin ETFs make it easier for people to invest in Bitcoin. More people are buying Bitcoin than selling it, especially from the Grayscale Bitcoin Trust (GBTC).

The stock market also had a great day. The S&P 500, which shows how U.S. stocks are doing, went up to 5,000 points for the first time. The Kobeissi Letter said, “This is a historic moment for stocks,” because they added $8.5 trillion in value in three months.

💹 Market Outlook: Stocks and Crypto Go Up Together

Many experts think that stocks and crypto will keep going up together. QCP Capital says that if stocks go down, people will buy more of them, because they want to make money. This will also help Bitcoin and Ethereum, which have good stories about their future.

🔍 Bitcoin’s Next Move

Keith Alan, from Material Indicators, says that Bitcoin should stay above $43,000, which is the 50-day average. Aksel Kibar, a famous trader, agrees, and says that Bitcoin has been in a good range for more than 150 days. Bitcoin is now looking at $48,000 to $49,000 as the next challenge. The market is waiting to see what will happen next.

Bitcoin and the S&P 500 are making history together. They show that finance is changing and growing. Investors are excited to see what will happen next, and hope to make money from both crypto and stocks. 🌟💰

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Ark Invest and 21Shares Change Their Ether ETF Plan

Ark Invest and 21Shares are two companies that want to offer a new way to invest in ether, the second-biggest cryptocurrency. They have changed their plan to make it more likely to get approved by the U.S. government agency that regulates these things, the SEC.

🚀 Cathie Wood’s Ark Invest Leads the Change

Cathie Wood is the leader of Ark Invest, and she is very good at investing in new technologies. She and 21Shares have changed their plan for a spot ether ETF, which they first submitted in September 2023. They have added a cash creation and redemption mechanism, which means that investors will use cash to buy and sell the ETF. This is what the SEC likes, and what they allowed for spot bitcoin ETFs.

🔄 Cash is Better: A Smart Move to Follow the SEC’s Rules

Eric Balchunas, an expert on ETFs at Bloomberg Intelligence, noticed the change and shared it on X. He said that the new plan is similar to the spot bitcoin ETFs that the SEC approved. This shows that Ark Invest and 21Shares are trying to follow the SEC’s rules and avoid the problems of the in-kind models, which use other assets instead of cash.

🔮 Staking the Future: A Special Feature of Ethereum

The new plan also has something new – the possibility of staking ether. This means that the ETF could lend some of its ether to other parties and get rewards for doing so. This would make the ETF more profitable and use Ethereum’s special features.

🎭 A New Way and More Transparency

The new plan focuses on the cash creation and redemption process, which is different from the in-kind model. The plan says that “Authorized Participants will deliver only cash to create shares and will receive only cash when redeeming Shares.” This makes the ETF more transparent and secure, which is what the SEC wants.

🔒 A New Vision for Ether ETF

The plan for the spot ether ETF has changed, but the goal is the same – to give investors direct access to ether, which they can trade on the Cboe BZX Exchange. This change shows that Ark Invest and 21Shares are flexible and can adapt to the changing rules. 🎶✨

US Treasury Warns About Crypto’s Bad Side in 2024 Report

The U.S. Department of the Treasury has made a report in 2024 that shows a big problem – more criminals are using cryptocurrencies to pay for their bad activities.

🚨 Crypto Under Watch: Treasury’s Alert

The U.S. Treasury’s 2024 report on money laundering, terrorist financing, and proliferation financing is very important. It shows a worrying trend – more criminals are abusing cryptocurrencies.

💸 Cryptocurrency’s Bad Role in Illegal Money Uncovered

The Treasury’s press release shows a hidden world where criminals are using cryptocurrencies to hide and move their dirty money. This is a problem because criminals are finding new ways to pay for things like drugs, human trafficking, and bribery with both old and new money.

🌐 Digital World Change: Criminals Like Virtual Assets

The Treasury’s report focuses on how illegal money is changing. Criminals are flexible and use more virtual assets to cover their tracks. The report also shows that some virtual asset service providers (VASPs) are not following the rules, either by saying they don’t have to or by not registering properly – this makes it hard for U.S. law enforcement.

💡 Stablecoins in Trouble: A Smart Move by Terrorist Groups

The report reveals something new – terrorist groups are using stablecoins. These are cryptocurrencies that are linked to real money. This agrees with what other groups like Chainalysis have found. It shows that terrorist financing methods are changing with technology.

🎮 Dark Side of Gaming: A New Place for Money Laundering

The Treasury’s report also looks at the online gaming world, which is a growing place for money laundering. It is easy to hide money there because of the anonymity and size. The report urges decentralized finance services to follow the rules, to make it harder for criminals.

🔍 Plans for a Safer Future: Treasury’s Next Step

To deal with these risks, the Treasury plans to release the 2024 National Strategy for Combating Terrorist and Other Illicit Finance. This plan, based on the latest report, will give suggestions to solve the problems – making VASPs follow the rules and making the digital money sector safer. The fight against crypto’s bad side gets stronger as the Treasury makes a plan for a safer financial future. 🌐🔒

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Stay tuned for more twists and turns in the crypto world & Happy Investing🚀💎