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Hello everyone and welcome. Here's some crypto news from the last few days.
To start with, let's talk about a major institutional investor.
Recently, two interesting pieces of information have surfaced: a certainty and a rumor.
The first certainty is that the world's largest pension fund, which happens to be Japanese and has a billion and a half dollars in assets under management, is interested in Bitcoin. It hasn't been said that they'll necessarily invest in it, but they recently published a document indicating that they're launching a research program aimed at learning more about assets in which they haven't yet invested. To ensure their profitability targets, they want to diversify their portfolio, which means they could potentially invest in assets such as forests, farmland, gold or Bitcoin at a later date.
The rumor of the week, however, is far more extravagant. According to Twitter-active billionaire Bitcoin fan Max Kaiser, Qatar's investment fund is looking to invest $500 billion in Bitcoin. Except there's a small problem: Qatar's investment fund has just $475 billion in assets under management. To invest $500 billion in Bitcoin, not only would he have to go all-in, but he'd also have to find $25 billion somewhere. In the end, Max Kaiser himself ended up doubting the rumor he had spread. Having said that, we could still believe in a subsequent investment from Qatar, but 50 billion would already be a lot, so let's remain realistic.
In the United States now, the inimitable SEC has been the focus of several events this week. Starting with the Debt Box judgment, the SEC accused Debt Box of fraud. The final verdict has not yet been rendered in this case, but the judge still ordered the SEC to reimburse the accused’s legal expenses. As a bonus, he characterized the SEC’s actions as abusive and felt that it was acting in bad faith.
As for the big players in the industry, their opinion of the SEC is not much better. While the general public is eagerly awaiting the arrival of Ethereum ETFs, their approval has been further delayed, just like for Bitcoin ETFs. The SEC does everything it can to slow down procedures as much as possible. Meanwhile, the SEC also released its annual report to the U.S. Parliament. It is calling for an increase in the annual budget. An additional $158 million was requested to come to just under $2.6 billion in total.
The SEC wants more money, but it doesn’t know what to do, apart from rotting the lives of crypto companies with baseless procedures.
NB:
This article is for information purposes only and should not be construed as advice and should not encourage the trading of financial instruments !!!
Thanks for reading and see you soon !
@genesung