Welcome to the latest Datawallet Daily. We've combed through crypto Twitter and the news to deliver the top stories from the last 24 hours:
BlackRock's Bitcoin ETF vanishes and reappears on DTCC site
BlackRock's Bitcoin exchange-traded fund (ETF) ticker, IBTC, briefly disappeared and then reappeared on the Depository Trust and Clearing Corporation’s (DTCC) website, and it certainly got the market buzzing. Bitcoin's price soared to yearly highs after IBTC initially appeared but dropped nearly 3% when the ticker vanished. It is pretty clear traders are keeping a close eye on any ETF news these days. This whole event even caused a hiccup on the DTCC site.
The recent changes in the IBTC listing hint that BlackRock might be gearing up for SEC approval. While the IBTC listing was first seen in August, it is only now that it is catching everyone's attention. DTCC mentioned that this does not guarantee any regulatory approvals. For now, Bitcoin seems steady, with a decent increase over the past week.
Ledger's new “Recover” service faces criticism
Ledger, a big name in crypto wallets, has rolled out a new backup feature called “Recover.” Think of it like a safety net for your wallet's recovery seed phrases, which are those random word combos you need to get back into your wallet. Ledger's method takes your encrypted key, splits it into three, and shares it with Ledger, Coincover, and another independent backup provider.
While it sounds handy, not everyone is thrilled, with some users raising eyebrows over security concerns, suggesting that Ledger is charging users for a feature that could make their private keys less secure.
CEO Pascal Gauthier defended the service, emphasizing its value for those fearing the loss of their seed phrases and the resulting access to their digital assets.
Andreessen Horowitz Backs Nym's $300M Innovation Fund
Nym Technologies, known for its privacy-centric infrastructure, has launched the Innovation Fund with backing from heavyweights like Andreessen Horowitz, Polychain Capital, and others.
This $300M fund supports Web3 creators and developers dedicated to enhancing privacy.
The fund's main focus areas are Nym-compatible Web3 wallets, RPCs, and open-source projects benefiting the Nym ecosystem. Additionally, the Nym Grants program offers mentoring, marketing expertise, and more. Nym plans to host hackathons and accelerator programs to bolster these endeavors.
BlockFi to Start Repaying Creditors Post-bankruptcy
After a tough year following the FTX exchange collapse, BlockFi has managed to bounce back, officially announcing its emergence from bankruptcy. This paves the way for them to kick off repayments to creditors.
After nearly a year of hard work, BlockFi claims to have reached this stage faster than many of its peers. Now, BlockFi is initiating a planned wind-down and will focus on retrieving assets from firms like FTX and Three Arrows Capital.
Most wallet customers can currently withdraw their assets. Over the next few months, clients with interest-generating accounts will be nudged to withdraw their funds, with more distributions anticipated in the future.
Other breaking news
- Pepe Memecoin Burns $5.5M Tokens Prompting 31% Rise
- Grayscale and FTSE Russell Debut Crypto Indices
- U.S. Senators Push Bipartisan Proof-of-Reserves Bill
- SEC Fines BlackRock $2.5 Million as Bitcoin ETF Review Awaits
- Polygon Deploys POL Token On Ethereum
In today's Datawallet Daily, we chatted about the Bitcoin ETF's mysterious disappearance and subsequent return on DTCC. Everyone's buzzing, but keep in mind: being on the DTCC does not guarantee an ETF approval. Ledger's new “Recover” function is also in the spotlight. While it promises convenience, some are wary due to its seed sharing approach. On a brighter note, Nym pocketed a nifty $300 million for their fund. And some good vibes for BlockFi users: there is hope on the horizon for recovering funds. Thanks for joining us.