Hi all, this is a quick updatde on our progress. This update will be included in Friday's update. We will be launching 2.0 the week of 9/18.

www.loom.com

Thanks,

Hello NWC Fam! Let's take a look at a few highlights together. ✧ Cryptocurrency exchanges Bybit and OKX have discontinued support for payment cards issued by sanctioned banks from Russia. ✧ A D.C. court has ruled in favor of Grayscale, the largest crypto asset manager, in its lawsuit challenging the U.S. Securities and Exchange Commission’s decision to deny the conversion of GBTC to a spot bitcoin exchange-traded fund (ETF). ✧ Members of the U.S. Congress have expressed concerns about the possible problems that implementing the newly proposed crypto tax reporting requirements could create in the entire industry. Patrick McHenry, Cynthia Lummis, and others reacted differently to the potential effects of these proposals on decentralized finance platforms and stablecoins. ✧ Seba, a crypto bank based in Switzerland, said it won approval-in-principle (AIP) from Hong Kong's Securities and Futures Commission (SFC) for its regional subsidiary as it looks to extend its international presence. #Bybit #OKX #Grayscale #US #ETF

The landscape for spot Bitcoin ETFs in the U.S. is evolving. Grayscale's court victory is significant, but the road ahead remains uncertain. Stay tuned for more updates! #FireGaryGensler $BTC

Grayscale might adjust its application to resemble a Bitcoin futures-linked ETF. The SEC could also opt for an "en banc" hearing, involving all D.C. circuit judges.

The Crypto Council for Innovation believes the ruling brings spot BTC ETFs in the U.S. a step closer to reality, opening doors for a broader investor base.

🔍 #Grayscale has triumphed in its court battle over a #BitcoinETF. But what implications does this have for the future of a spot Bitcoin ETF in the U.S.? 🧵👇

JUST IN: Major Development at #Twitter (🇺🇸 X), who Gains License to Facilitate #Crypto Payments and Trading.

Are you new to the futures trading or want to know more about it? Then you will love this #Futures Trading 101 thread🧵 Let’s dive right in! 🤿 1️⃣ What's a Future? 👉 No, it's not what a gypsy sees in the crystal ball. 🔮 It’s a contract to buy/sell a specific cryptocurrency at a predetermined price on a set date. Basically, predicting the future...of asset prices. /PlatformMercury/status/1696501385267728533/photo/1 2️⃣ How's it Different from Spot Trading? 👉 With spot trading, you buy/sell the asset instantly and the asset is under your control for example $BTC, you own it and you can withdraw it to a non-custodail wallet if you wish so. Futures on the other side are just contracts and you own the contract and not the underlaying asset - in this case $BTC. /PlatformMercury/status/1696501385267728533/photo/2 3️⃣ Leverage in Futures: 👉In futures, leverage allows you to trade larger positions than you could afford. Sounds cool, but watch out – it can magnify both gains and losses. 4️⃣ Settlement – Physical vs. Cash: 👉 Physical means receiving the actual crypto at the expiration date. Cash means getting the difference in value. Keep in mind perpetual futures contracts do not have an expiration date. 5️⃣ Let’s look at an example: You buy 1 $BTC at $26k. It’s expiration date and $BTC is at $28k now. ⁃ Physical Settlement With a physically settled contract, you'll receive 1 Bitcoin, not the price difference. But here's the catch: You're getting it for the agreed-upon price $26k, $2k discount compared to the market. You can hodl it or sell for a profit. ⁃ Cash Settlement Now, instead of receiving an actual Bitcoin, you get the price difference between your contract rate and the current market rate. In this case, that difference is $28k - $26k = $2k. You don't own any Bitcoin, but you made a neat $2k profit from the price movement. 6️⃣ Why Trade Futures? 👉 Hedging risks (for example you are long on $BTC because you bought it on spot and you hedge with a futures short) or speculating, making educated guesses about price movements – kinda like betting but if you are treating it as a casino you will never become profitable. 👍: Potential for higher profits, flexibility, and hedging. 👎: Complex for newbies, higher risks, and potential for bigger losses (always have an exit strategy, just like Batman!). 7️⃣ Expiration Date: 👉 Every party ends, so does a futures contract (except perpetual futures). It’s the date when the contract expires. Don't confuse it with expiration date of your frozen corn dogs, it’s different! 🌽🌭 8️⃣ Mistakes to Avoid: 👉 Over-leveraging (don't be that guy), not researching enough, and not keeping an eye on fees. Yes, fees, they nibble at your profits like hungry little gremlins. 🦹 9️⃣ What fees? ⁃ Funding Rates: Imagine two friends, Bob and Alice. Bob believes $BTC will rise, so he goes long (buys). Alice believes it'll drop, so she goes short (sells). But here's the twist: They don't make this bet in a vacuum. If there are more Bobs than Alices in the market (more people going long), then Bob has to pay a fee to keep his position open. This fee is called the “funding rate”. • Positive Funding Rate: More people are long. Those who are long pay the shorters. • Negative Funding Rate: More people are short. Those who are short pay the longs. /PlatformMercury/status/1696501385267728533/photo/3 Fun Fact: In a way, this is the market's method of saying, "Too many on one side of the boat? Balance it out or pay up!" ⚖️ ⁃ Trading Fees: a. Taker Fee: If you're in a rush and take an order directly from the order book (aka market buy), you're a 'taker.' Exchanges usually charge takers a bit more. Impatience is costly as you can see! b. Maker Fee: If you place an order at a specific price and wait for someone to match it, you're a 'maker.' Fees for makers are typically lower because, well, patience is a virtue! ⁃ Margin Fees: When you trade with leverage (like saying, "Hey, I have $100, but let me trade as if I have $1000"), you're borrowing. And borrowing ain't free, my friend! This fee is the interest you pay on that borrowed money. On #Binance borrowing yearly fees can be as low as 5% or even over 100%! Pro Tip: Always, and I mean always, check an exchange's fee structure before diving in. It's like reading the menu prices before ordering food. You don't want surprises when the bill comes! 🧾💸 /PlatformMercury/status/1696501385267728533/photo/4 🔟 Concluding thoughts! 👉 Futures trading isn't for everyone. It's like spicy food: exciting for some, heartburn for others.🌶️ Know your risk appetite, and always do your homework! 📈 MercuryTrade copy-trading platform benefits traders and copiers Been trading futures for some time? Join our copy-trading platform where you trade on the behalf of your copiers who in return for your services pay a flat fee (which is set by you). Become a trader:

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If you’re a newbie, join our platfrom as a copier and start copying a trader of your choice! Become a copier:

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Thanks for reading the whole thing since it’s as long as a TEDx talk! #FuturesTrading101 #Trading #MercuryTrade #CopyTrading #Crypto

🚨 #BlackRock, one of the world's largest investment firms, is making significant moves in the #Bitcoin mining sector! A thread 🧵

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🚨 #BlackRock, one of the world's largest investment firms, is making significant moves in the #Bitcoin mining sector! A thread 🧵

twitter.com

In conclusion, BlackRock's increasing involvement in Bitcoin mining is a testament to the potential they see in the industry. As they continue to invest, it'll be interesting to see how the landscape evolves. Stay tuned! 🚀

With this move, BlackRock Fund Advisors also becomes a key player in the Bitcoin Mining Council, a major lobbying group for the Bitcoin mining industry in the US. 🇺🇸