Analyses

Daily News Summary 9/8

August 9, 2024 Tóth Balázs
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Movement Around Spot BTC ETF Option Filings

The Cboe, joining three other exchanges, withdrew its option listing application for spot Bitcoin ETFs late Thursday, only to submit a significantly longer and more detailed application shortly afterward. This maneuver clearly indicates that the U.S. Securities and Exchange Commission (SEC) is involved in the process. According to James Seyffart, an analyst at Bloomberg Intelligence, options for spot Bitcoin ETFs are expected to become available in the fourth quarter of this year.

Crypto for Harris Formed

The Democratic branch of the crypto industry has also begun vying for the votes of crypto enthusiasts, leading to the creation of a new Kamala Harris-supporting advocacy group called “Crypto for Harris.” Among its members are left-leaning billionaire entrepreneur and crypto advocate Mark Cuban, SkyBridge Capital founder and Trump critic Anthony Scaramucci, as well as a handful of Democratic members of the House of Representatives.

Covalent Partners with Sei

Modular data infrastructure provider Covalent has announced a strategic partnership with the Sei blockchain. The integration of Covalent’s GoldRush stack into Sei’s high-speed environment will enable more blockchain innovations while providing an efficient developer environment. Additionally, this partnership further strengthens Covalent’s commitment to building a robust data infrastructure.

Ripple Begins Testing Its Stablecoin

Ripple has started testing its stablecoin, Ripple USD (RLUSD), on two blockchain networks, the XRP Ledger and Ethereum. Currently, the RLUSD has not yet received regulatory approval, so it is not available for commercial use. According to Monica Long, Ripple’s president, the stablecoin will complement XRP’s functions in the future.
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