SEC to face lawsuits over Bitcoin ETF rejections says JPMorgan Analyst
The U.S. Securities and Exchange Commission (SEC) may face lawsuits if it rejects spot Bitcoin exchange-traded fund (ETF) applications, a scenario that is causing concern among industry insiders. Analysts from JPMorgan, led by Nikolaos Panigirtzoglou, expressed growing optimism about the potential approval of a spot Bitcoin ETF. However, they warn of potential legal issues should […]
JPMorgan predicts SEC approval for spot Bitcoin ETFs
Spot Bitcoin exchange-traded fund (ETF) approvals could be on the horizon as JPMorgan predicts they may arrive ‘within months. Analysts at JPMorgan believe that the Securities and Exchange Commission (SEC) will soon greenlight multiple spot Bitcoin ETF applications. This comes after the SEC chose not to contest a recent court ruling in favor of Grayscale […]
Bitcoin’s hash rate to drop by 20% post halving in 2024, predicts JPMorgan
In a recent report, JPMorgan forecasted a 20% drop in the Bitcoin Network Hash Rate following the Bitcoin halving slated for April 2024. According to the report, released, it states, “We estimate as much as 80 EH/s (or 20% of the network hashrate) could be removed at the next halving (April ‘24) as less-efficient hardware […]
JPMorgan rolls out blockchain settlement system for Blackrock and Barclays
In a significant development, JPMorgan Chase & Co. (NYSE: JPM) has launched its inaugural blockchain collateral settlement system. The new system was unveiled via the Tokenized Collateral Network (TCN), which was employed by BlackRock to tokenize shares in one of its money market funds. Subsequently, these tokens were transferred to Barclays Plc for use as […]
Ethereum becoming more centralized post-merge and shanghai upgrades, warns JPMorgan
The Merge and Shanghai upgrades have led to increased centralization in Ethereum, according to a report by JPMorgan (JPM), raising concerns over the network’s decentralization principle. In a report by JPMorgan on Thursday, the surge in ether (ETH) staking following the upgrades has made Ethereum more centralized, while also reducing the overall staking yield. Analysts […]
Coinbase CEO slams JPMorgan’s subsidiary Chase UK for ‘Inappropriate’ crypto transaction ban
On Tuesday, Coinbase CEO, Brian Armstrong, criticized JPMorgan’s subsidiary, Chase UK on X, for its decision to restrict cryptocurrency-related transactions. He said: “Totally inappropriate behavior from Chase UK (this is their UK bank only is my understanding)” He called the move “totally inappropriate” and urged U.K. crypto holders to close their accounts if they are […]
Massive Bitcoin liquidation shake traders, after reports emerge JPMorgan Steps in with Blockchain Payment System
Bitcoin shorts worth $24 million were liquidated over a single day, resulting in substantial losses for traders. These liquidations affected 26,390 traders, totaling a liquidation value of $62 million. The largest single liquidation occurred on Bitmex, where a position valued at $5.15 million in Bitcoin was liquidated. This period saw the liquidation of both long […]
JPMorgan lowers Bitcoin’s production cost: what it means for Miners and Investors?
JPMorgan has adjusted its estimation of Bitcoin’s production costs, revising it from $21,000 to $18,000. This adjustment is in response to the Cambridge Bitcoin Electricity Consumption Index (CBECI) updating its methodology for tracking and estimating the electricity consumption of the Bitcoin network. The revised methodology has implications for mining costs, with JPMorgan analysts noting that […]
Crypto market remains steady despite Fed’s inflation concerns
The cryptocurrency market remains cautious following US Federal Reserve Chair Jerome Powell’s comments on high US inflation. Despite this, Bitcoin, Ether, and other top 10 non-stablecoin cryptocurrencies have held steady. JPMorgan Chase & Co. analysts report that the downward price momentum in the market has slowed. The Forkast 500 NFT Index experienced a gain after […]