Markets
The crypto market takes its time
Fidelity Investments believes that most market participants should have positions in Bitcoin, regardless of their beliefs. To do this, they only need to allocate 1-5% of their capital to BTC.
Ripple CEO Brad Garlinghouse said the launch of Ethereum-ETF will open the door for other cryptocurrencies to enter the ETF market. He believes the emergence of XRP-based spot exchange-traded funds is “inevitable.” Other ETF competitors could include Solana (SOL) and Cardano (ADA).
FTX, which is in bankruptcy proceedings, resolved a lawsuit filed by the US Internal Revenue Service (IRS). According to the agreement between the parties, the agency will receive, at best, US$885 million from FTX, instead of the US$24 billion originally requested.
The company behind StarkNet, StarkWare, aims to make the L2 network a single tier of scale for the first cryptocurrency alongside Ethereum. This requires implementing the OP_CAT update for Bitcoin, which will bring smart contract functionality back to the blockchain.