ProFunds launches the closest thing to a Bitcoin ETF in the United States, with approval from the Securities and Exchange Commission (SEC). This and more news in this practical daily summary so that you are always informed with the most recent events that occur within the crypto world.
Bitcoin and Blockchain Adoption
📍ProFunds receives SEC approval to open Bitcoin futures investment opportunities to its retail clients. The company ProFund Advisors LLC revealed that the United States Securities and Exchange Commission (SEC) approved its new investment product to allow its clients and retail investors to access futures Bitcoin (BTC) through the largest derivatives market CME Group.
According to the company, the new mutual fund Bitcoin Strategy ProFund (BTCFX), the first in the United States, will bring retail investors closer to bitcoin derivatives in a similar way as an ETF would, although not as attractively as the latter. The goal behind this new investment product from ProFunds is to minimize the risk of investors when participating in the Bitcoin and ETF market. cryptocurrencies, .
📍In the last 4 months, cryptocurrency users worldwide have doubled. Data from Crypto.com shows that the population of bitcoin and cryptoasset users has grown exponentially in the last few months of the year. In its latest report, reportCrypto.com reveals that the number of active cryptocurrency users surpassed 221 million people in June.
“It took just four months to double the global cryptocurrency population from 100 million to 200 million”, the company said in its report. In addition, Crypto.com indicated that in the months of January and February, the growth of cryptocurrency users was driven by bitcoin, while from April to June, the boost was motivated by the adoption of altcoins such as Dogecoin (DOGE) and Shiba Inu (SHIBA).
NFT and DeFi Markets
📍Milena Márkovna Kunis, better known as Mila Kunis, crashed the Ethereum network with her collection of NFT kittens. Collection NFT Mila Kunis' Stoner Cats caused investors losses of more than $799.200 in gas fees for failed transactions, while the collection generated nearly $8,3 million in profits from the sale of its 10.420 NFTs, which sold out in just 35 minutes.
On Twitter, users expressed anger at high gas fees that caused them to lose money in commissions without ever earning any of the tokens.
The Stoner Cats NFT collection, which also features other Hollywood actors such as Jane Fonda, Chris Rock and Ashton Kutcher and himself Vitalik Buterin, will allow token owners to watch the new animated series funded entirely by NFTs.
Miners
📍Bitcoin's hash rate has recovered by nearly 18% in the last month. According to data from Blockchain.com, the hash rate Bitcoin went from 84 EH/s at the beginning of the month to 102,9 PE/s At the time of this writing, the recovery in the computing power of the Bitcoin network is related to the reconnection of several mining equipment that left China due to the country's strict restrictions on this activity.
Development and Technology
📍Cryptocurrency lending platform Vauld plans international expansion. In a release Recently, Vauld indicated that it raised $25 million in a funding round led by the firm Valar Ventures. Major investors in the crypto industry, such as Pantera Capital, Coinbase Ventures, CMT Digital, and others, also participated in the round. The funds raised by Vauld will be used to support the company’s international growth, as well as licensing and expansion of the investment and crypto banking platform.
Rules and Regulations
📍In Israel, the government is proposing a new law to reduce tax evasion with cryptocurrencies. According to proposal Under the proposed law, cryptocurrency users with holdings of 200.000 Israeli shekels or more, or about $61.000, must file taxes with the authorities. The proposal also indicates that if approved, the law would apply to all Israeli citizens who hold cryptocurrency investments in the amount indicated in their name or in the name of a minor child.
The Israeli government noted that cryptocurrencies and digital assets have become common property among the population, so the implementation of the proposed law will help the government improve tax collection. According to estimates, Israel will be able to collect about $9,2 million in additional taxes.
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