🌙 Bill Proposes Outlawing USDT

Government officials would no longer be able to use networks developed by China that power crypto transactions, according to a new bipartisan bill.

Author

Mike Gavela
November 08, 2023

Crypto Roundup - Nov 8

The U.S. has introduced the CLARITY Act, aiming to block government use of China-made blockchains and transactions with Tether's USDT to safeguard national security, while Ark Invest is launching a new suite of digital asset ETFs in collaboration with 21Shares, offering exposure to blockchain industry equities without direct investment in digital assets. Meanwhile, Marathon Digital, a bitcoin mining firm, surpassed Q3 earnings expectations but missed revenue projections, reporting increased bitcoin production and aiming to become the largest publicly traded miner by hash rate in 2023, with its stock significantly outperforming bitcoin's price gain.

Top Stories:

  • The U.S. CLARITY Act: proposes to prohibit government officials from using Chinese blockchain networks and transacting with firms like Tether's iFinex to protect national security.

  • Ark Invest, Led by Cathie Wood, Will Launch ETFs: with 21Shares to give investors portfolio access to digital assets, without direct investment in cryptocurrencies, trading on the Cboe.

  • Marathon Digital Exceeded Q3 Earnings: expectations but fell short on revenue, with a significant stock rise and plans to expand its mining power, potentially leading the industry in hash rate by 2023.

TOP STORIES

U.S. Bill Proposes Outlawing Government Use of China-Made Blockchains and Tether's USDT

Government officials would no longer be able to use networks developed by China that power crypto transactions, according to a new bipartisan bill.

www.coindesk.com/policy/2023/11/08/us-bill-proposes-outlawing-government-use-of-china-made-blockchains-and-tethers-usdt

Ark Invest launching new suite of digital asset ETFs with 21Shares

Cathie Wood's Ark Invest launches "suite" of digital assets ETFs which include exposure to bitcoin futures contracts.

www.theblock.co/post/262255/ark-invest-launching-new-suite-of-digital-asset-etfs-with-21shares

Bitcoin Miner Marathon Digital Beats Q3 Earnings Estimates, but Misses on Revenue

The company sees 2023 mining power guidance reaching 26 EH/s, making it the largest bitcoin mining firm in terms of hash rate.

www.coindesk.com/business/2023/11/08/bitcoin-miner-marathon-digital-misses-3q-earnings-and-revenue-estimates

FUNDRAISES

OTHER HEADLINES

Chainlink (LINK) pumps 26% in 6 days — Is there room for more?

LINK has rallied 27% over the past week. Cointelegraph investigates what’s behind the move.

cointelegraph.com/news/chainlink-pumps-26-in-6-days-is-there-room-for-more

U.S. SEC Said to Open Talks with Grayscale on Spot Bitcoin ETF Push

Representatives of the company are answering questions from two divisions of the U.S. Securities and Exchange Commission in the wake of Grayscale's court win over the agency.

www.coindesk.com/policy/2023/11/08/us-sec-said-to-open-talks-with-grayscale-on-spot-bitcoin-etf-push

Yuga Labs co-founder's wild $1.5 million NFT spending spree starts with rare CryptoPunk

Yuga Labs alum Gordon Goner appears keen to spark another NFT bull run after aggressively buying from across collections.

www.theblock.co/post/262266/yuga-labs-co-founders-wild-1-5-million-nft-spending-spree-starts-with-rare-cryptopunk

LidoDAO launches official version of wstETH on Base

Beefy Finance deployed a version of Lido’s wstETH token for the Base network, which has now been officially approved by LidoDAO.

cointelegraph.com/news/lidodao-launches-official-version-of-wsteth-on-base

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