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Top Cryptocurrency News of the Day - 15/10/2024

Writer's picture: PatriciaPatricia


Are you curious about the latest in the crypto world? Here’s a rundown of today’s key trends and events affecting Bitcoin prices, blockchain technology, DeFi, NFTs, Web3, and crypto regulations.


Google’s nuclear power plan could revolutionize cryptocurrency mining


A new approach to nuclear energy production has the potential to significantly impact both artificial intelligence and cryptocurrency mining, though it demands a considerable initial investment in relatively unproven technologies.



The United States is on the verge of developing and deploying its first commercial small modular reactor (SMR). Unlike traditional nuclear reactors, SMRs require a much smaller infrastructure footprint and are considered part of the "next generation" of nuclear technology, with claims of enhanced safety features.


There are hundreds of peer-reviewed research articles discussing the intersection of cryptocurrency and clean energy. Many large-scale cryptocurrency mining operations are beginning to explore nuclear power as a clean and safe alternative to conventional energy sources.


Despite this interest, the primary obstacles preventing most cryptocurrency mining facilities and artificial intelligence data centres from adopting nuclear energy are its limited availability and the substantial initial construction costs.


SMRs offer potential solutions to some of these challenges. They are said to be easier to develop, require less maintenance and staffing, and are environmentally friendly. Over the long term, SMRs are expected to be much more economically viable than alternatives, such as large-scale nuclear reactors. However, the significant upfront investment required for their development remains a key barrier.


Canary Capital seeks approval from SEC for a spot Litecoin ETF


Canary Capital submitted a registration statement to the U.S. Securities and Exchange Commission (SEC) for a Litecoin exchange-traded fund (ETF) just days after filing a similar application for an XRP product.



On Tuesday, the crypto investment firm filed an S-1 registration statement for the Canary Litecoin ETF. The fund aims "to provide exposure to the price of LTC held by the Trust," as stated in the filing. However, details about the custodian and administrator have not yet been disclosed.


Canary Capital was founded by Steven McClurg, who previously established Valkyrie Funds, another firm known for its spot cryptocurrency ETFs.


In a statement, Canary Capital emphasized Litecoin's significant role in the broader cryptocurrency ecosystem, suggesting that this will attract a wider range of institutional investors.


"Canary believes that Litecoin offers a unique and compelling opportunity for investors looking to gain exposure to a reliable and time-tested cryptocurrency," the firm said in an emailed statement. "As one of the longest-running blockchains, with 100% uptime since its launch, Litecoin has proven its security and reliability, offering significant enterprise-grade use cases."


Several exchange-traded products already hold Litecoin, including one from CoinShares in Switzerland and a Grayscale trust in the U.S., according to Bloomberg ETF analyst James Seyffart, who commented on the matter on X.


Ex-Valkyrie Founder’s Canary Capital Group Files for First Litecoin ETF


Canary Capital Group, a newly established investment firm focused on digital assets and founded by former Valkyrie Funds co-founder Steven McClurg, appears to be positioning itself as a leader in the crypto exchange-traded fund (ETF) space rather than a follower.


On Tuesday, the firm filed paperwork to launch the Canary Litecoin (LTC) ETF. Litecoin is the native cryptocurrency of the Litecoin blockchain, an open-source project based on Bitcoin’s code. While several non-native ETF issuers have introduced crypto funds this year, this marks the first filing for a fund tied explicitly to Litecoin (LTC).


For Canary Capital, which is only about a month old, this represents its second planned ETF launch, following its recent filing with the Securities and Exchange Commission (SEC) for an XRP fund just a week earlier.


Opacity Network raises $12 million seed round for ZK-based data verification platform


Opacity Labs, the developer behind the Opacity Network, a data verification platform leveraging zero-knowledge proofs, has successfully raised $12 million in a seed funding round.


The round was co-led by Archetype and Breyer Capital, with additional participation from a16z Crypto Startup Accelerator (CSX), Finality Capital Partners, Bodhi Ventures, and Escape Velocity (EV3), the company announced on Tuesday.


Opacity Labs began its fundraising efforts in July and closed the round last month, according to co-founder Hersh Patel, who shared the information with The Block. The funding was structured as a simple agreement for future equity (SAFE) with a valuation cap and a token warrant. Patel declined to reveal the specific valuation.


This seed round brings Opacity Labs' total funding to $13.4 million, following a prior $1.4 million raised in a pre-seed round.


Blockstream secures $210M debt funding for Bitcoin layer-2 strategy


Blockchain technology company Blockstream has expanded its capital-raising efforts, securing $210 million in financing through a convertible notes round led by Fulgur Ventures.


In an announcement on October 15, the company stated that the funds will be used to support Blockstream’s ongoing Bitcoin infrastructure projects. These include its layer-2 strategy, mining operations, and the development of financial products.



One of Blockstream’s key products is the Liquid Network, a Bitcoin sidechain launched in 2018 designed to enable faster transactions and the issuance of assets like stablecoins and security tokens.


Interest in layer-2 solutions for the Bitcoin network has surged since the introduction of the Ordinals protocol in 2023, which enabled the storage and inscription of non-fungible tokens (NFTs) directly on the Bitcoin blockchain.


The increase in network activity has driven established companies and startups to develop scalability solutions to facilitate faster transactions and reduce fees.


Bitcoin’s utility, which Ethereum had long overshadowed, has now gained significant traction in the crypto industry, particularly following the approval of Bitcoin exchange-traded funds (ETFs) in the United States.



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