Web3🌗Wednesday Buzz: BlackRock's Bitcoin ETF Soars, Russia’s Mining Ban, Trump’s SEC Pick, and AI Crypto Trading Unveiled

The world of Web3 is buzzing with action! From BlackRock’s Bitcoin ETF achieving a staggering $1.9 billion in first-day trades to Russia’s crypto mining ban in occupied Ukraine, the landscape is evolving rapidly. Adding intrigue, Donald Trump is reportedly eyeing crypto lawyer Teresa Goody Guillén as a potential SEC chief, while a new AI trading assistant, George, promises to reshape how we engage with crypto investments. Each of these developments signals transformative shifts in blockchain, regulation, and AI-powered finance. Dive into these stories and discover how Web3 continues to shape our financial future!

1. BlackRock Bitcoin ETF trades a stunning $1.9B on launch day.

BlackRock’s iShares Bitcoin Trust ETF (IBIT) options debuted with a groundbreaking $1.9 billion in trades on their first day, setting a record for day-one exposure in the crypto ETF space. This surge in activity coincided with Bitcoin reaching a new high of over $94,000, driven by strong market optimism and significant net buying. Analysts highlighted the bullish sentiment, with a put/call ratio of 0.225, showing heavy bets on Bitcoin’s continued rise. Industry experts believe these options amplify liquidity and could push Bitcoin’s price well above $100K by year-end. Meanwhile, Grayscale prepares its own spot ETF options, intensifying competition.

BlackRock Bitcoin ETF options see ‘unheard of’ $1.9B traded on first day

Options on BlackRock’s spot Bitcoin ETF saw an “unheard of” $1.9 billion in notional exposure on the first day of trading.

CointelegraphMartin Young

2. Russia moves to ban crypto mining in occupied Ukraine.

Russia is set to impose temporary crypto-mining bans this winter in energy-strained areas, including Siberia and occupied Ukrainian territories, to address electricity shortages. The bans, starting in December 2024, will apply year-round in regions like Chechnya and Dagestan, with winter-only restrictions in Siberia until 2031. Russia’s updated crypto laws now differentiate between enterprise and individual miners, requiring registration for businesses while setting consumption limits for individuals. Despite restrictions, Russia remains a global Bitcoin mining leader, balancing its role in crypto with energy concerns. Lessons from Iran’s similar struggles highlight the complexities of regulating crypto mining.

Russia To Ban Crypto Mining in Occupied Ukraine To Ease Power Shortages

Russia is set to impose a crypto mining ban across several regions, including occupied Ukraine, amid a power crisis during the winter season.

CCN.comPrashant Jha

3. Trump eyes crypto lawyer Teresa Goody Guillén for SEC.

Teresa Goody Guillén, a former SEC attorney and partner at BakerHostetler, is under consideration by President-elect Trump to become the next SEC chair. Advocated by the crypto industry, Goody Guillén’s experience in blockchain law and her pro-crypto stance could lead to major changes in the SEC, focusing on light-touch regulation and reducing enforcement actions. Her deep understanding of securities law and practical crypto insights make her a promising candidate to overhaul the SEC and drive industry growth. The SEC chair will be selected before Thanksgiving, as the transition team accelerates the process.

Trump Said to Consider Crypto Lawyer Teresa Goody Guillén to Lead SEC

A former SEC attorney who now represents blockchain companies, Goody Guillén would be “an instant change maker,” said one token project founder.

CoinDeskChristine Lee

4. Meet George, the AI-powered crypto trader!

Woo X has launched “George AI,” an AI-powered copy trading tool, in partnership with Kaito, a company founded by ex-Citadel professionals. This tool analyzes crypto sentiment from platforms like X and Discord, helping traders follow machine-driven strategies. Kaito’s AI decodes market sentiment, offering clearer insights in the noisy crypto space. Weekly competitions will let traders bet on whether George AI or human traders perform better. This new feature aims to democratize AI in trading and challenges the traditional methods used in cryptocurrency markets.

Say Hello to George, Your AI Trader for Crypto

Woo X launches AI-powered George AI for copy trading, featuring weekly human vs. machine showdowns. Will AI outperform human traders?

The Crypto TimesDishita Malvania

As Web3 continues to innovate and redefine the future of finance, these developments underscore its dynamic nature. From regulatory shifts to groundbreaking AI tools, the industry is buzzing with potential. Stay ahead of the curve by exploring these trends and harnessing the power of blockchain and AI to navigate the ever-evolving digital economy.

WEB3 AI ML