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OpenAI’s Sam Altman Ousted, BlackRock and Fidelity Seek Ether ETF, and More: Hodler’s Digest, Nov...
Top Stories This Week
Sam Altman ousted from OpenAI, CTO Mira Murati named interim CEO
ChatGPT developer OpenAI removed founder Sam Altman from his CEO position on Nov. 17. Chief technology officer Mira Murati is now serving as interim CEO. According to a blog post, the board of directors engaged in a deliberative review process, which resulted in the conclusion that Altman was not consistently candid in his communications with the board, hindering its ability to exercise its responsibilities. Shortly after, OpenAI co-founder and president Greg Brockman revealed his exit from the organization.
BlackRock files S-1 form for spot Ether ETF with SEC
The worlds largest asset manager, BlackRock, officially filed for a spot Ether exchange-traded fund (ETF) with the United States Securities and Exchange Commission (SEC) on Nov. 15. The ETF, dubbed the iShares Ethereum Trust, aims to reflect generally the performance of the price of Ether, according to the S-1 filed with the SEC. The iShares brand is associated with BlackRock’s ETF products. The move by BlackRock comes nearly a week after it registered the iShares Ethereum Trust with Delawares Division of Corporations and almost six months after it filed its spot Bitcoin ETF application. Following BlackRocks filing, asset manager Fidelity also sought a green light for its own Ether ETF.
Australia to impose capital gains tax on wrapped cryptocurrency tokens
The Australian Taxation Office (ATO) has issued guidance on capital gains tax (CGT) treatment with regard to decentralized finance and wrapping crypto tokens for individuals, confirming that Australians are liable for capital gains taxes when wrapping and unwrapping tokens. The transfer of crypto assets to an address that the sender does not control or that already holds a balance will be regarded as a taxable CGT event, the ATO said in its statement. The CGT event will trigger depending on whether the individual recorded a capital gain or loss. A similar approach has been considered for taxing liquidity pool users, providers and DeFi interest and rewards. In addition, wrapping and unwrapping tokens will also be subject to triggering a CGT event.
Among the biggest 100 cryptocurrencies, the top three altcoin gainers of the week are Celestia (TIA) at 103.39%, yearn.finance (YFI) at 88.04% and THORChain (RUNE) at 54.38% .
The top three altcoin losers of the week are Gas (GAS) at -64.85%, FTX Token (FTT) at -35.17% and Neo (NEO) at -20.27%.For more info on crypto prices, make sure to read Cointelegraphs market analysis.
Read also Features The trouble with automated market makers Features Championing Blockchain Education in Africa: Women Leading the Bitcoin Cause Most Memorable Quotations
Education and utility-based projects where there is real utility for usage is how we can get regulators onboard.
Navin Gupta , managing director of South Asia, Middle East and North Africa at Ripple
We believe derivatives will foster additional liquidity and hedging opportunities in crypto and represent the next critical step in this markets continued growth.
John Palmer , president of Cboe Digital
I am very bullish about a whole bunch of different things going on in crypto. […] It will be a multichain world.
Brad Garlinghouse , CEO of Ripple
Phone and the internet arent to be blamed for terror financing and crypto shouldnt either.
French Hill , United States Representative
I believe that code is a form of speech and is protected by the First Amendment.
Vivek Ramaswamy , entrepreneur and U.S. presidential candidate
The digital euro would also mean that each and every one of us could be totally monitored. […] Anyone who is against surveillance and for freedom does not need a digital euro!
Joana Cotar , member of the German Bundestag
Prediction of the week
Bitcoin traders BTC price dip targets now include $30.9K bottom
Bitcoin circled $36,000 on Nov. 16 as analysis hoped for a deeper price comedown. Having failed to establish a breakout beyond 18-month highs during the week, Bitcoin was uninspiring for market participants, some of whom hoped to see a fresh correction to retest lower levels.
Would be happy to see this latest rally complete the round trip back to $35k. Would be even happier to see a retest of $33k, monitoring resource Material Indicators wrote in part of the days commentary on X (formerly Twitter).
A snapshot of BTC/USDT order book liquidity showed support building at $35,000. Material Indicators co-founder Keith Alan added that Bitcoins rising 21-day simple moving average had been functioning as support in recent days.
BTC continues to fight for the range above $36.5k, he commented.
Popular pseudonymous trader Daan Crypto Trades likewise flagged $35,700 and $38,000 as the main downside and upside levels to watch, respectively. Fellow pseudonymous trader Gaah, a contributor to on-chain analytics platform CryptoQuant, meanwhile warned that a steeper correction could take the market closer to $30,000.
Top Stories This Week
Sam Altman ousted from OpenAI, CTO Mira Murati named interim CEO
ChatGPT developer OpenAI removed founder Sam Altman from his CEO position on Nov. 17. Chief technology officer Mira Murati is now serving as interim CEO. According to a blog post, the board of directors engaged in a deliberative review process, which resulted in the conclusion that Altman was not consistently candid in his communications with the board, hindering its ability to exercise its responsibilities. Shortly after, OpenAI co-founder and president Greg Brockman revealed his exit from the organization.
BlackRock files S-1 form for spot Ether ETF with SEC
The worlds largest asset manager, BlackRock, officially filed for a spot Ether exchange-traded fund (ETF) with the United States Securities and Exchange Commission (SEC) on Nov. 15. The ETF, dubbed the iShares Ethereum Trust, aims to reflect generally the performance of the price of Ether, according to the S-1 filed with the SEC. The iShares brand is associated with BlackRock’s ETF products. The move by BlackRock comes nearly a week after it registered the iShares Ethereum Trust with Delawares Division of Corporations and almost six months after it filed its spot Bitcoin ETF application. Following BlackRocks filing, asset manager Fidelity also sought a green light for its own Ether ETF.
Australia to impose capital gains tax on wrapped cryptocurrency tokens
The Australian Taxation Office (ATO) has issued guidance on capital gains tax (CGT) treatment with regard to decentralized finance and wrapping crypto tokens for individuals, confirming that Australians are liable for capital gains taxes when wrapping and unwrapping tokens. The transfer of crypto assets to an address that the sender does not control or that already holds a balance will be regarded as a taxable CGT event, the ATO said in its statement. The CGT event will trigger depending on whether the individual recorded a capital gain or loss. A similar approach has been considered for taxing liquidity pool users, providers and DeFi interest and rewards. In addition, wrapping and unwrapping tokens will also be subject to triggering a CGT event.
Among the biggest 100 cryptocurrencies, the top three altcoin gainers of the week are Celestia (TIA) at 103.39%, yearn.finance (YFI) at 88.04% and THORChain (RUNE) at 54.38% .
The top three altcoin losers of the week are Gas (GAS) at -64.85%, FTX Token (FTT) at -35.17% and Neo (NEO) at -20.27%.For more info on crypto prices, make sure to read Cointelegraphs market analysis.
Read also Features The trouble with automated market makers Features Championing Blockchain Education in Africa: Women Leading the Bitcoin Cause Most Memorable Quotations
Education and utility-based projects where there is real utility for usage is how we can get regulators onboard.
Navin Gupta , managing director of South Asia, Middle East and North Africa at Ripple
We believe derivatives will foster additional liquidity and hedging opportunities in crypto and represent the next critical step in this markets continued growth.
John Palmer , president of Cboe Digital
I am very bullish about a whole bunch of different things going on in crypto. […] It will be a multichain world.
Brad Garlinghouse , CEO of Ripple
Phone and the internet arent to be blamed for terror financing and crypto shouldnt either.
French Hill , United States Representative
I believe that code is a form of speech and is protected by the First Amendment.
Vivek Ramaswamy , entrepreneur and U.S. presidential candidate
The digital euro would also mean that each and every one of us could be totally monitored. […] Anyone who is against surveillance and for freedom does not need a digital euro!
Joana Cotar , member of the German Bundestag
Prediction of the week
Bitcoin traders BTC price dip targets now include $30.9K bottom
Bitcoin circled $36,000 on Nov. 16 as analysis hoped for a deeper price comedown. Having failed to establish a breakout beyond 18-month highs during the week, Bitcoin was uninspiring for market participants, some of whom hoped to see a fresh correction to retest lower levels.
Would be happy to see this latest rally complete the round trip back to $35k. Would be even happier to see a retest of $33k, monitoring resource Material Indicators wrote in part of the days commentary on X (formerly Twitter).
A snapshot of BTC/USDT order book liquidity showed support building at $35,000. Material Indicators co-founder Keith Alan added that Bitcoins rising 21-day simple moving average had been functioning as support in recent days.
BTC continues to fight for the range above $36.5k, he commented.
Popular pseudonymous trader Daan Crypto Trades likewise flagged $35,700 and $38,000 as the main downside and upside levels to watch, respectively. Fellow pseudonymous trader Gaah, a contributor to on-chain analytics platform CryptoQuant, meanwhile warned that a steeper correction could take the market closer to $30,000.
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