Web3đWednesday Buzz: SEC Delays Bitwise ETF, AIXBT Soars 74%, and Coinbase Base Expands!
1ď¸âŁ SEC delays decision on Bitwise 10 Crypto Index ETF.
2ď¸âŁ Rep. Tom Emmer named Digital Assets Subcommittee Vice Chair, vows US-led innovation.
3ď¸âŁ AI Agent AIXBT surges 74% in 24 hours, proving skeptics wrong.
4ď¸âŁ Coinbase Base adds a marketplace tied to gas revenue.
đŠ Keep reading to get the full scoop!
Web3 is buzzing with excitement! From regulatory updates to groundbreaking innovations, the blockchain world is moving fast. Today, we dive into the SECâs latest move on the Bitwise ETF, Rep. Tom Emmerâs commitment to driving US-led digital asset innovation, a jaw-dropping 74% rally by AI Agent AIXBT, and Coinbase Baseâs new marketplace tied to gas revenue. Letâs explore the highlights shaping the future of Web3!
1. SEC delays decision on Bitwise 10 Crypto Index ETF.
The SEC has delayed its review of Bitwise's ETF filing for the Bitwise 10 Crypto Index Fund (BITW) until March 3, 2025, citing the need for further evaluation and stakeholder feedback. The fund, currently valued at $1.4 billion and trading on the OTCQX Best Market, tracks the top 10 cryptocurrencies. Bitwise CEO Hunter Horsley emphasized the advantages of converting the fund to an ETF, including enhanced investor protections and better alignment with NAV. The SECâs cautious approach aims to address concerns about market manipulation and investor safety before making a final decision.
Estefano Gomez
2. Rep. Tom Emmer named Digital Assets Subcommittee Vice Chair, vows US-led innovation.
Rep. Tom Emmer (R-MN) has been appointed vice chair of the Digital Assets Subcommittee, which will focus on U.S. crypto legislation. This move highlights Emmerâs strong pro-crypto stance and his commitment to developing regulatory frameworks that balance innovation with consumer protection. Emmer has been a vocal critic of federal agencies like the SEC and has championed the CBDC Anti-Surveillance State Act. His appointment signals intensified efforts to shape digital asset policies under President Trumpâs leadership, with bipartisan support for crypto legislation gaining momentum. Emmer envisions a regulatory framework promoting crypto market growth and global stability.
Vismaya V
3. AI Agent AIXBT surges 74% in 24 hours, proving skeptics wrong.
AIXBT experienced a remarkable 74% rally in the last 24 hours, reaching a new all-time high of $0.75. This surge defied bearish expectations and highlighted growing interest from both retail and institutional investors, with Open Interest doubling from $73M to $154M. Despite the heightened activity, traders are divided on the future, with some expecting continued growth and others anticipating a correction. The price surge followed short liquidations totaling $2.3M, which shifted market sentiment toward bullishness. If AIXBT maintains support above $0.60, further gains are possible, though a decline below this level could reverse recent momentum.
4. Coinbase Base adds a marketplace tied to gas revenue.
Alkimiya, a startup backed by Dragonfly and Coinbase Ventures, has launched a DeFi market for speculating on the price of blockspace on Coinbaseâs Base rollup. The market allows users to bet on fluctuations in transaction costs, similar to how energy markets function. With increased activity on Base, gas fees can fluctuate dramatically, offering opportunities for traders. Alkimiya uses decentralized finance architecture, including oracles and smart contracts, to track gas consumption on the network. This innovative market provides a transparent, decentralized way to speculate on blockchain transaction costs without the need for a native token.
As the Web3 space continues to evolve, these developments highlight the rapid pace of innovation and the potential for major shifts in the industry. Whether it's regulatory changes, technological breakthroughs, or new market dynamics, there's always something new shaping the future. Stay tuned, and be sure to keep up with the latest news in the world of Web3.
