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Dubai Crypto & Coffee at 8 ☕ 🚨 Dubai: 14th Dec 🚨 ❗FOMC: Intrest Hike unchained causes Crypto🚀 SEC Meets with BlackRock, Fidelity , Franklin Templeton, + Grayscale ⚡ Zimbabwe University: Web3 plans
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14th December: Crypto & Coffee at 8
❗FOMC: Intrest Hike unchained causes Crypto🚀 SEC Meets with BlackRock, Fidelity Investments, Franklin Templeton, and Grayscale Investments ⚡ Zimbabwe University: Web3 plans
📊 Federal Reserve Board chair Jerome Powell announced no interest rate hike & and remained unchained at at 5.25–5.50% but a strong possibility of an increase in 25bps in 2024. We strongly recommend watching the full interview here via YouTube http://tinyurl.com/2a6yfans Some interesting information about Labor Market conditions and recession.
- How did the crypto market react to FOMC news? The Global crypto market is up by 4.47% and over $33B has been added to Bitcoin’s market cap
❗ FXStreet article states — Bitcoin price shoots to $42,800 as FOMC keeps interest rates unchanged http://tinyurl.com/mrxpjjfb
❗ CoinDesk — Bitcoin Bounces Over $43K, Altcoins, Crypto Stocks Burst Higher http://tinyurl.com/3vxs9txs
❗ Bankrate — Article discussing How the Fed impacts stocks, crypto and other investments http://tinyurl.com/2zyb36w5
✅ Check out Blockchain DXB’s Crypto & Coffee at 8 podcasts we share our commentary on it. We also discuss Binance’s former CEO CZ’s update
⚡ U.S. Securities and Exchange Commission held meetings with four different issuers regarding their spot bitcoin exchange-traded fund (ETF) filings. According to meeting memorandums posted on the SEC website, Grayscale and Franklin Templeton met with the SEC on Dec. 8, Fidelity Investments on Dec. 7, and BlackRock’s latest meeting with the SEC was on Dec. 11. Info by James Seyffart, CFA, CAIA Senior ETF analyst of Bloomberg.
Does it mean Bitcoin Spot will be approved? Not Really! We at Blockchain DXB strongly feel a Bitcoin spot ETF may be approved by 2025
🟠 One of the issues BlackRock, and other spot bitcoin ETF issuers, discussed with the SEC concerns the use of the in-kind creation model instead of the cash creation model for their spot bitcoin ETFs. While the SEC favors the cash model, Blackrock and other issuers advocate for in-kind creation. To address the regulator’s concerns, Blackrock has proposed a revised in-kind model. In its latest spot bitcoin ETF filing upd