Investors are better off buying ETFs than buying shares in a firm that’s simply putting a crypto asset on its balance sheet, argues Bitwise’s Matt Hougan. Bitwise chief investment officer Matt Hougan says digital asset treasuries need to start taking the hard path if they want to stand out from the crowd; otherwise, investors are better off investing in crypto exchange-traded funds instead. One of the best ways to discern whether a digital asset treasury (DAT) is worth looking at is to ask the question, “Are they doing something hard?” Hougan argued in an X post on Wednesday. “Buying a crypto asset and putting it on a balance sheet today isn’t hard. It was hard at one point, but it’s not hard now. If that’s all a DAT is doing, you are better off owning an ETF. This is true even if the DAT is staking, as ETFs now stake,” he said. Read more
Miami Mayor Francis Suarez started receiving his salary in Bitcoin four years ago, when Bitcoin was valued at around $64,000. Miami Mayor Francis Suarez, who started to take Bitcoin as salary in late 2021, said he’s unfazed about the recent volatility in the crypto market, claiming he’s now up around 300% on his Bitcoin paychecks. Speaking to Fox Business on Wednesday, the crypto-friendly Mayor was asked if he was “concerned” about Bitcoin (BTC) following the recent dip under $100,000, with most of the crypto market also bleeding over the past week. “No, because I got paid at $30,000, so it’s up 300%, it was actually up to 400% when it was up to $120,000, so I’m not concerned about everyday market swings from one day to the other,” he said, adding: Read more
The UK’s top bank says it will roll out stablecoin rules “just as quickly as the US” amid concerns that it's lagging behind global allies. Bank of England Deputy Governor Sarah Breeden expects the government to keep pace with the US in stablecoin regulation, stating that it is “really important” for the allies to be synchronized on rules governing the $310 billion industry. Speaking at the SALT conference in London on Wednesday, Breeden reportedly said the UK will implement a stablecoin regulatory framework “just as quickly as the US” — rebuffing fears that it is falling behind, particularly after the US passed the landmark GENIUS Act in July. Breeden confirmed that UK regulators are speaking with US authorities as the Bank of England prepares to publish its stablecoin consultation paper on Nov. 10. Read more
The launch marks Franklin Templeton’s latest step into digital assets, introducing a blockchain-based UCITS fund as Hong Kong accelerates its push toward real-world asset tokenization. Franklin Templeton has launched a tokenized US dollar money market fund for professional investors in Hong Kong, expanding its crypto offerings in Asia. According to a statement shared with Cointelegraph on Wednesday, the Franklin OnChain U.S. Government Money Fund is the first end-to-end tokenized structure by an asset manager to integrate issuance, distribution and servicing directly onchain in Hong Kong. The tokenized fund will be initially available only to institutional and professional investors. It is registered in Luxembourg under a regulated framework that allows investment funds to be sold across the European Union. Read more
Need to know what happened in crypto today? Here is the latest news on daily trends and events impacting Bitcoin price, blockchain, DeFi, NFTs, Web3 and crypto regulation. Today in crypto, Galaxy cut its 2025 Bitcoin price forecast to $120,000 from $185,000, citing changing market conditions. US spot Solana ETFs extended their six-day inflow streak, while the White House defended President Trump’s pardon of former Binance CEO Changpeng Zhao. Investment company Galaxy lowered its 2025 Bitcoin price forecast to $120,000 from $185,000, citing several headwinds and dampened price volatility due to passive investment flows into exchange-traded funds (ETFs) and financial institutions. Factors such as whales dumping 400,000 Bitcoin onto the market in October, along with rotations into other investment narratives such as gold, AI and stablecoins, in addition to leveraged liquidations, have put a damper on BTC price, Alex Thorn, Galaxy’s head of research, said on Wednesday. Read more
The mixed ruling was claimed as a victory by both Stability AI and Getty Images, muddying the legal waters around AI and intellectual property. The United Kingdom’s High Court of Justice issued a mixed ruling on Tuesday in the Getty Images v. Stability AI intellectual property case filed in 2023, which mostly favored Stability AI but left key questions unanswered about AI’s use of copyrighted material. Getty owns a library of copyrighted online stock images — which it licenses to users for a fee — and alleged that Stability’s Stable Diffusion AI model, which is trained using online material, infringed upon its trademark and copyrighted material. Stability’s Stable Diffusion AI model infringed on Getty’s trademark by reproducing its watermark in certain cases. However, the findings were “extremely limited in scope,” Justice Joanna Smith ruled. Read more