1. Bitcoin Dips Below $64K as U.S. Equity Selloff Stalls Crypto Rebound

Yesterday, Bitcoin’s price fell below $64,000 during the U.S. trading session. This drop came as a result of a broad-market equity selloff, which halted the earlier gains seen in the cryptocurrency market.

The sudden dip in Bitcoin’s value highlights the ongoing volatility in the crypto market, especially when influenced by traditional financial markets. Investors are closely watching these trends, as they can signal potential buying opportunities or further declines.

Time (UTC)	Event Description
5:28 PM	Bitcoin dips below $64K
5:00 PM	Bitcoin’s ‘OP_CAT’ possibilities teased
4:49 PM	Copper receives key license in Hong Kong

The stock market correction poses a significant risk to the crypto market, but some strategists believe that a renewed downturn could present a buying opportunity.

2. Polymarket Hires Nate Silver After Taking in $265M of Bets on U.S. Election: Report

Polymarket, a popular prediction market platform, has recently hired Nate Silver, the well-known statistician and founder of FiveThirtyEight. This move comes after the platform saw a massive $265 million in bets placed on the U.S. election. Nate Silver is expected to bring his expertise in data analysis and forecasting to Polymarket, enhancing the platform’s credibility and accuracy.

Polymarket has been gaining traction as a go-to place for political junkies and those interested in prediction markets. The platform allows users to bet on the outcomes of various events, including political elections, sports, and other significant happenings. With Silver on board, Polymarket aims to improve its data-driven insights and attract even more users.

Key Points

• Nate Silver’s Role: Silver will focus on refining the platform’s prediction models and ensuring the accuracy of the data presented.
• Impact on Polymarket: The hiring is expected to boost user confidence and attract a broader audience.
• Future Prospects: With Silver’s expertise, Polymarket aims to become a leading platform for prediction markets.

Polymarket’s decision to hire Nate Silver highlights the growing importance of data accuracy and expert analysis in prediction markets.

3. Grayscale Launches Artificial Intelligence-Focused Crypto Fund; AI Tokens Gain

Grayscale has introduced a new crypto fund centered on artificial intelligence (AI). This fund is available exclusively to accredited investors and includes a variety of native tokens from projects like Bittensor, Filecoin, Livepeer, Near, and Render. The tokens gained immediately following the announcement, with prices up 1%-3% over the past hour, according to CoinGecko data.

The launch of this fund marks a significant step for Grayscale as it continues to diversify its offerings. The focus on AI highlights the growing intersection between blockchain technology and artificial intelligence, two of the most transformative technologies of our time.

This new fund could pave the way for more innovative investment opportunities in the crypto space, blending the potential of AI with the security and transparency of blockchain.

4. Crypto Custody Firm Copper Receives Key License in Hong Kong as it Expands in Asia Pacific

Crypto custody specialist Copper has secured a trust or company service provider (TCSP) license in Hong Kong. This important milestone allows Copper to expand its services across the Asia Pacific region. The company announced this achievement in a press release on Wednesday.

Key Points

• License Type: Trust or Company Service Provider (TCSP)
• Region: Asia Pacific
• Announcement Date: Wednesday

Copper’s new license is a significant step in its growth strategy. The firm aims to provide secure and reliable crypto custody solutions to a broader market. This move is expected to enhance Copper’s presence and influence in the rapidly growing crypto industry in Asia.

This license marks a pivotal moment for Copper as it continues to expand its footprint in the global crypto market.

With this license, Copper can now offer its services to a wider range of clients, including institutional investors and crypto exchanges. The company is committed to maintaining high standards of security and compliance, ensuring that its clients’ assets are well-protected.

5. Democrats Have Made a ‘Horrific Mistake’ on Crypto, Says SkyBridge Capital’s Anthony Scaramucci

Anthony Scaramucci, the former White House Communications Director under President Trump, recently shared his thoughts on the current state of cryptocurrency regulation in the United States. In an exclusive interview with CoinDesk’s Jennifer Sanasie, Scaramucci expressed his concerns about the Democratic Party’s approach to crypto.

Scaramucci believes that the Democrats have made a ‘horrific mistake’ by not embracing the potential of cryptocurrencies. He argues that this stance could hinder innovation and economic growth in the country. According to him, the reluctance to support crypto-friendly policies might push investors and innovators to more welcoming jurisdictions.

The former White House Communications Director under President Trump spoke in an exclusive interview with CoinDesk’s Jennifer Sanasie.

Scaramucci’s comments come at a time when the crypto industry is facing increased scrutiny and regulatory challenges. He emphasized the need for a balanced approach that fosters innovation while ensuring consumer protection. Scaramucci’s views highlight the ongoing debate about the future of cryptocurrency regulation in the U.S.

6. Bitcoin’s ‘OP_CAT’ Possibilities Teased in StarkWare Test Project

StarkWare has recently showcased the potential of Bitcoin’s ‘OP_CAT’ in a new test project. OP_CAT is a proposed upgrade for Bitcoin, aiming to bring Ethereum-like smart contract capabilities to the world’s oldest and largest blockchain network.

This development could open the door for more advanced applications on Bitcoin, similar to what we see on Ethereum. The test project by StarkWare is a significant step towards enhancing Bitcoin’s functionality and scalability.

This could be a game-changer for Bitcoin, making it more versatile and capable of handling complex transactions.

While it’s still in the testing phase, the successful implementation of OP_CAT could revolutionize how developers build on Bitcoin, offering more freedom and fewer limitations.

7. Financial Building-Blocks: Structured Products and Blockchain

Structured products are financial instruments that derive their value from other assets. Traditionally, these products have been complex and often inaccessible to everyday investors. However, blockchain modularity simplifies structuring and origination by eliminating intermediaries, while fractional ownership broadens investor access and reduces barriers.

Benefits of Blockchain in Structured Products

• Transparency: Blockchain ensures all transactions are recorded and visible to all parties involved.
• Efficiency: Smart contracts automate processes, reducing the need for manual intervention.
• Accessibility: Fractional ownership allows smaller investors to participate in markets previously out of reach.

Challenges to Overcome

• Regulatory Hurdles: Navigating the legal landscape can be complex and varies by region.
• Technology Adoption: Both investors and institutions need to adapt to new technologies.

Blockchain is changing the way we think about structured products, making them more accessible and efficient for everyone.

8. Blockchain Friendly Roberta Metsola Reelected as EU Parliament President

Roberta Metsola, a member of the European Parliament for Malta, has been reelected as the President of the legislature. She received 562 of the 699 votes, showcasing strong support from her peers. Metsola is known for her blockchain-friendly stance, advocating for regulations that encourage innovation without stifling it.

In 2018, she called for balanced regulations on crypto and blockchain technologies. Her reelection is seen as a positive sign for the blockchain community in Europe, as she continues to support the growth and integration of these technologies within the EU framework.

9. Core Scientific Upgraded to Buy From Neutral to Reflect HPC Expansion: B Riley

Core Scientific has received a significant upgrade from B Riley, moving from a neutral rating to a buy. This change comes as the company expands its high-performance computing (HPC) hosting capabilities. B Riley has also increased the price target for Core Scientific from $0.50 to $13.

This upgrade highlights Core Scientific’s potential as a future leader in the HPC hosting space. The company’s recent efforts to enhance its infrastructure and services have positioned it well for growth.

This upgrade is a strong vote of confidence in Core Scientific’s future prospects and its ability to capitalize on the growing demand for HPC services.

10. Protocol Village: Arthur Hayes-Backed Maelstrom Pledges Grants for Open-Source Bitcoin Devs

Maelstrom, supported by Arthur Hayes, has announced a new grant program for open-source Bitcoin developers. The program is offering 12-month grants, with payments made monthly in BTC, USDC, or USDT. Grants range from $50,000 to $150,000 per developer. This initiative aims to support and encourage innovation within the Bitcoin community.

Key Details

• Duration: 12 months
• Payment Options: BTC, USDC, USDT
• Grant Amount: $50,000 to $150,000 per developer

This program is a significant step towards fostering growth and development in the Bitcoin ecosystem.

Conclusion

In the fast-paced world of blockchain and cryptocurrencies, staying updated is crucial. Over the past day, we’ve seen significant developments, from market shifts to new regulatory moves. Each piece of news carries its own weight and potential impact on the future of digital currencies. As we continue to monitor these changes, it’s clear that the blockchain landscape is ever-evolving. Whether you’re an investor, developer, or just curious, keeping an eye on these trends will help you navigate this dynamic field. Stay tuned for more updates and insights in our next edition of Blockchain Bulletin.

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