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BlackRock Bitcoin ETF sees $1B volume in first minutes of post-election trading

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BlackRock’s highly anticipated Bitcoin exchange-traded fund (ETF) saw a massive surge in trading volume shortly after the U.S. presidential election results were announced. Within minutes of post-election trading, the ETF recorded over $1 billion in volume, signaling strong investor interest and market excitement. The launch of the ETF is viewed as a significant milestone for the cryptocurrency market, bridging the gap between traditional finance and digital assets.

The BlackRock Bitcoin ETF, which provides investors with exposure to Bitcoin without the need to directly buy or manage the cryptocurrency, has been a hot topic of discussion in the financial world. Its swift market entry follows months of anticipation, as the world’s largest asset manager prepared for its debut. The volume spike is seen as a sign of confidence in Bitcoin as a legitimate asset class, especially following the uncertainty and volatility of the election cycle.

Investors were quick to seize the opportunity presented by the ETF, which offers a regulated vehicle to gain exposure to Bitcoin’s price movements. As the U.S. presidential election drew to a close, market sentiment appeared to shift toward more risk-on assets, with Bitcoin being one of the key beneficiaries. The ETF’s performance is also seen as a potential catalyst for further institutional adoption of cryptocurrency products, as more traditional investors explore the asset class.

The BlackRock Bitcoin ETF launch is a pivotal moment for the crypto space, as it could encourage other financial institutions to follow suit in launching similar products. With regulatory frameworks continuing to evolve and institutional interest growing, the success of BlackRock’s offering may have broader implications for how cryptocurrencies are integrated into mainstream finance in the years ahead.

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7-Eleven South Korea to accept CBDC payments in national pilot program

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7-Eleven is set to participate in the testing phase of a central bank digital currency (CBDC) initiative, running from April to June. The retail giant’s involvement highlights the growing push for digital currency integration in everyday transactions.

The pilot program will assess the feasibility of CBDC payments at 7-Eleven stores, allowing customers to make purchases using the digital currency. The initiative is part of a broader effort to explore the real-world application of CBDCs in retail environments, potentially shaping future payment systems.

As central banks worldwide accelerate their digital currency research, private sector collaboration is seen as crucial for widespread adoption. If successful, 7-Eleven’s participation could pave the way for broader CBDC usage across retail and commercial sectors.

The outcome of the testing phase will provide valuable insights into consumer adoption, transaction efficiency, and potential regulatory considerations, influencing how CBDCs are integrated into mainstream financial systems.

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SEC and Gemini ask to pause lawsuit to explore ‘potential resolution’

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The U.S. Securities and Exchange Commission (SEC) and crypto exchange Gemini have agreed to pause legal proceedings as both sides explore a potential resolution to their ongoing lawsuit. The move signals a possible settlement in the high-profile case, which centers around Gemini’s now-defunct Earn program.

The SEC initially sued Gemini, alleging that the Earn program—designed to offer users yield on crypto deposits—operated as an unregistered securities offering. Gemini has pushed back against the claims, arguing that its operations complied with regulatory standards.

By pausing litigation, both parties may be looking for a compromise that could set a precedent for crypto lending products in the U.S. A settlement could also provide regulatory clarity for similar platforms navigating SEC scrutiny.

While the outcome remains uncertain, the crypto industry is closely watching the case, as its resolution could impact future enforcement actions and the broader regulatory approach toward digital asset lending services.

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GameStop finishes $1.5B raise to add Bitcoin to its balance sheet

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GameStop has successfully completed a debt offering, raising capital that may be used to acquire Bitcoin, signaling the company’s deeper foray into digital assets. The move aligns with its broader strategy to diversify beyond traditional retail operations and into emerging financial technologies.

While GameStop has not confirmed the exact allocation of the funds, market speculation suggests that a portion could be used to buy Bitcoin, following in the footsteps of companies like MicroStrategy. The potential investment would reinforce GameStop’s ongoing pivot toward blockchain and digital assets, an effort that began with its NFT marketplace and crypto-related initiatives.

Analysts see this development as part of a growing trend of corporations exploring Bitcoin as a reserve asset amid concerns over inflation and monetary policy. If GameStop proceeds with the acquisition, it could further validate Bitcoin’s role as a strategic investment for publicly traded companies.

The company’s board will ultimately decide how the newly raised capital is deployed. Investors and the broader crypto market are watching closely for any official announcements regarding GameStop’s Bitcoin strategy.

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