Authorities are pressuring Facebook because of its crypto project, and the launch of the ProShares ETF on BTC futures has been successful
US Senators pressure Facebook due to Its crypto project
US senators believe that Facebook CEO Mark Zuckerberg should suspend the Novi digital wallet project. Also, politicians are confident that it is too early to launch Diem stablecoin on the market.
The senators noted that the IT company had previously promised not to issue the crypto coin without securing the consent of the regulators. The speeches of a number of US senators took place amid joint testing of the Novi crypto wallet by Facebook and Coinbase.
“Despite these assurances, Facebook is once again implementing plans for digital currency on a tight timeline and has already launched a pilot project for the network’s payment infrastructure, although this is incompatible with the real landscape of financial regulation — not only for Diem, but for stablecoins in general,” said senators.
BITO BTC Futures ETF trading volume overcame $1 billion in the first 24 hours
The launch of ProShares’ first Bitcoin futures ETF on October 19 was a success. The trading volume with tokens under the ticker BITO exceeded the $1 billion mark in the first day.
Such results for the market can be considered almost record-breaking. According to analysts, retail investors account for a significant share of BITO’s trading volume.
“I think in the case of BITO, we will see the daily trading volume at least half of the volume of the first day. It is even possible to reach $750 million a day by the end of the week. The volume of trading in BITO shares on the first day exceeded the trading volume of 99.5% ETFs, including such large ones as DIA, ARKK and SLV. The indicator has definitely exceeded our expectations,” wrote Erik Balchunas, senior analyst at Bloomberg.
Carl Icahn does not rule out that bitcoin is salvation from inflation
Major investor Carl Icahn fears a significant rise in US dollar inflation. However, the businessman believes that BTC is able to occupy the niche of a reliable instrument for preserving assets.
The billionaire predicts a global financial crisis in the future due to the fact that the US authorities continue to “print money.” However, Icahn’s investment company does not intend to invest in cryptocurrencies yet.
“We have a lot of really smart guys working for us, but we still don’t understand bitcoin. I am not saying that this is a good or bad asset, we just do not understand it. And, naturally, we will not invest in an asset that we do not understand. But if inflation rises strongly, then bitcoin may have value. But there are too many variables, it is too difficult to invest in it,” the entrepreneur emphasized.
