Bitcoin

FLOKI

ORDI

<p>The overall sentiment in the crypto space this week appears mixed, with both positive and notable developments. However, there were also concerns raised regarding market dynamics, particularly in response to social media activity. Grayscale Investments, BlackRock, Invesco, and ARK Investments have begun <a href="https://blockchainreporter.net/advancing-u-s-bitcoin-etfs-in-depth-talks-between-sec-and-issuers-signal-approaching-approvals/" rel="noopener noreferrer nofollow">SEC conversations</a>, indicating progress in US Bitcoin exchange-traded fund (ETF) clearance. This discourse about investor protection advocates creating a Bitcoin exchange-traded fund (ETF) to limit market participation and boost demand. Since it could set an example for the U.S. Bitcoin ETF market, the SEC’s January 10 ruling on ARK Investments’ application is intriguing. Tweets from Bitcoin Core engineer Luke Dashjr caused $ORDI token value <a href="https://blockchainreporter.net/ordi-faces-fluctuations-as-bitcoin-developers-tweets-spur-market-volatility/" rel="noopener noreferrer nofollow">volatility</a>. This raised discussions about whale actions and token ownership concentration.</p><p>In early November, DWF Labs made a <a href="https://blockchainreporter.net/dwf-labs-amplifies-floki-ecosystem-with-strategic-1-25-million-token-investment/" rel="noopener noreferrer nofollow">strategic OTC investment</a>of $1,250,000 in FLOKI tokens. This investment shows DWF Labs’ dedication to the Floki Ecosystem. This decision supports DWF Labs’ Floki and TokenFi initiatives and the market’s expected growth. Even with a $3.62 million gain, El Salvador’s President Nayib Bukele remained <a href="https://blockchainreporter.net/el-salvadors-bitcoin-investment-now-in-profit/" rel="noopener noreferrer nofollow">committed</a> to Bitcoin. This role stresses market changes and unbiased reporting. Major Jason Lowery of the U.S. Space Force <a href="https://blockchainreporter.net/u-s-space-force-major-advocates-bitcoin-for-defense/" rel="noopener noreferrer nofollow">suggested</a> adopting Bitcoin into national defense strategies, sparking global discussions on how the cryptocurrency may change cybersecurity and battle.</p><h2 id="header-0">Major Progress in Bitcoin ETF Approval by SEC</h2><p>Notably, <a href="https://blockchainreporter.net/advancing-u-s-bitcoin-etfs-in-depth-talks-between-sec-and-issuers-signal-approaching-approvals/" rel="noopener noreferrer nofollow">conversations</a> between leading asset managers and the <a href="https://sec.gov/" rel="noopener noreferrer nofollow">SEC</a> imply significant progress in the approval process for <a href="https://blockchainreporter.net/bitcoin-etf-and-100k-media-predictions-mass-narrative-eye-opening/" rel="noopener noreferrer nofollow">Bitcoin ETFs</a> in the U.S. financial industry. Grayscale Investments, BlackRock, Invesco, and ARK Investments are discussing custody, creation, redemption, and investor risk disclosures with the SEC. These discussions center on the SEC’s investor protection rules, which have long hampered ETF approval. A spot Bitcoin ETF would be a milestone for the cryptocurrency sector since it would allow regulated and secure stock market access to Bitcoin, thereby increasing demand.</p><p>The Securities and Exchange Commission’s (SEC) January 10 verdict on ARK Investments’ application might set a precedent for such petitions. Industry leaders including ARK CEO Cathie Wood and Morningstar’s Bryan Armour are hopeful about ETF approval. This would encourage investment competition. The continued exchanges and expanding SEC information requests emphasize the urgency and gravity of these discussions, signalling significant U.S. Bitcoin ETF market developments.</p><h2 id="header-1">$ORDI Token Sees Volatility Following Luke Dashjr’s Comments</h2><p>The $ORDI token <a href="https://blockchainreporter.net/ordi-faces-fluctuations-as-bitcoin-developers-tweets-spur-market-volatility/" rel="noopener noreferrer nofollow">fluctuated</a> due to Bitcoin Core engineer Luke Dashjr’s tweets. LookOnChain, a major blockchain site, asks a major crypto community question: Are whales buying $ORDI? The top 30 $ORDI token holders show a highly concentrated ownership structure, with a few whales owning 16.78 million tokens. At $950 million, these tokens represent 79.94% of the supply.</p><p>Since November 9, ownership concentration has increased, suggesting major investors are collecting more $ORDI coins. Two major OKX Exchange investors have been buying $ORDI since May 20. Their December acquisitions totaled 57,299 $ORDI, or $3.15 million, across platforms. Additionally, notable addresses like bc1q8u and bc1qrl have acquired large amounts of $ORDI, $2 million, and $4.26 million, respectively, indicating a strong commitment to keeping these assets. This technique supports $ORDI’s market expansion.</p><h2 id="header-2">DWF Labs Boosts Floki with $1.25M Investment in OTC Transaction</h2><p>DWF Labs <a href="https://blockchainreporter.net/dwf-labs-amplifies-floki-ecosystem-with-strategic-1-25-million-token-investment/" rel="noopener noreferrer nofollow">invested</a> $1,250,000 in FLOKI tokens in an OTC transaction in early November, boosting their support for the Floki Ecosystem. DWF Labs’ move shows their confidence in Floki’s <a href="https://blockchainreporter.net/glossary/web-3-0/" rel="noopener noreferrer nofollow">Web3</a> potential and positions them to capitalize on the cryptocurrency market’s predicted rise. After buying $5 million in tokens in May 2023, Floki and DWF Labs formed a strong partnership. DWF Labs has helped Floki to expand its scope, list on cryptocurrency exchanges, and partner with key initiatives.</p><p>Other Floki-related projects include TokenFi, denoted by “TOKEN.” TokenFi’s sole market maker, DWF Labs, will drive its growth in the $16 trillion tokenization and Real-World Asset (RWA) sector. DWF Labs’ increased involvement is timely as the crypto market prepares for a price surge. The company can boost Floki and TokenFi’s performance. Its resources and abilities will boost both initiatives to new heights in the ever-changing crypto sector.</p><h2 id="header-3">El Salvador to Hold Bitcoin Despite $3.62M Profit Potential</h2><p>El Salvador’s President, Nayib Bukele, reaffirmed his <a href="https://blockchainreporter.net/el-salvadors-bitcoin-investment-now-in-profit/" rel="noopener noreferrer nofollow">support</a> for Bitcoin investment. Bukele said <a href="https://blockchainreporter.net/el-salvador-buys-the-dip-adds-420-more-bitcoins/" rel="noopener noreferrer nofollow">El Salvador</a> could recoup its investment and make $3.62 million by selling its Bitcoin assets at market value. Bukele stated that El Salvador will not sell its Bitcoin assets, despite the potential for quick riches. The country invests long-term but is wary about Bitcoin price swings.</p><p>Bukele’s position shows his strong belief in Bitcoin’s future. He invited opponents and journalists who had focused on El Salvador’s losses to recognize its economic success. Bukele stressed the importance of journalistic honesty and fairness in reporting, especially given changing market circumstances. The statement clarifies El Salvador’s Bitcoin involvement and highlights its cryptocurrency strategy.</p><h2 id="header-4">U.S. Space Force Major Advocates Bitcoin Integration for National Defense</h2><p>U.S. Space Force Major Jason Lowery <a href="https://blockchainreporter.net/u-s-space-force-major-advocates-bitcoin-for-defense/" rel="noopener noreferrer nofollow">suggests</a> integrating Bitcoin and <a href="https://blockchainreporter.net/glossary/proof-of-work-pow/" rel="noopener noreferrer nofollow">proof-of-work (PoW)</a> technology into the DoD. Lowery wrote to the DoD Innovation Council about Bitcoin’s strategic importance in defense and cybersecurity. This idea proposes using Bitcoin for “offset strategies,” which could change cyber warfare and national security. Bitcoin experts around the world are discussing the U.S. Space Force’s plan. Bitcoin as an “offset strategy” by the Department of Defense affects cybersecurity and national defense beyond economics.</p><p>Ark Invest CEO Cathie Wood called the initiative a “significant demonstration of the viability of Bitcoin.” Wood believes Bitcoin might revolutionize cyber security and warfare. John Deaton is a prominent figure in the cryptocurrency world. He supports Lowery’s idea and points out that big organizations like the U.S. Department of Defense could benefit from using Bitcoin and other Proof-of-Work (PoW) cryptocurrencies.</p>

Blockchainreporter Weekly News Review: Mixed Sentiment Amid SEC Talks and Global Debates

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