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Why Mark Cuban is looking forward to Ethereum’s use cases



Entrepreneur Mark Cuban is in awe of Ethereum network and thinks that blockchain technology could be a game-changer for various industries. In a recent interview, Cuban said that it is the “simplification of smart contracts” on Ethereum that gets him “excited.” He said:

Because now, all these SaaS companies, all these different companies, I could see just disrupting the f**k out of them. 

He proposed two scenarios where Ethereum’s blockchain tech could prevent “fraud” and protect consumers. For instance, in an accounting system where trained accountants earn crypto tokens; he added: 

And now, they [accountants] look at a general ledger entry, and they all have to have consensus on the general ledger entry, and they don’t know each other. There’d be no Enrons. You wouldn’t have the level of fraud that you have now. 

In another scenario, Cuban imagined the application of blockchain in healthcare. In this case, “validators” who all independently verify transactions will make the system fair for all, as opposed to insurance firms that could deny patients claims.  

Since the entrepreneur is all praise for blockchain tech, it comes as no surprise that Cuban, who owns the Dallas Mavericks basketball team, is considering using the tech for his sporting venture. During the interview, he revealed that plans to use blockchain for “ticket sales” were in the talks.

Coming to Bitcoin, Cuban believed that the asset is “better than gold,” and said: 

Whether it’s Bitcoin or Ethereum, or even maybe some other choices, when somebody owns that, they become their own personal banker.

Cuban had stated, in the interview, that his opinions on crypto assets have been evolving over time. He once had claimed that as long as people accepted Bitcoin “as a digital version of gold,” it was investable. At the time, Cuban was of the opinion that BTC, ETH and tokens that support DeFi were rarely used as currency.

Now, Cuban said that US government needs to embrace crypto over gold because the yellow metal “useless.” 

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Gary Gensler Is Worried About the New BTC ETF



Just last week, the United States’ first official bitcoin-based exchange-traded fund (ETF) began getting traded on the New York Stock Exchange (NYSE). Released by trading firm Pro Shares, crypto investors feel that the product – while imperfect – is a step in the right direction, and yet the SEC’s Gary Gensler is not as optimistic, and still feels certain things should take place for investors to get the right protection.

Gary Gensler: Still Plagued with Worry

The Securities and Exchange Commission (SEC) is heavily tasked with regulating the crypto space to ensure no illegal securities offerings take place. Gary Gensler is the man at the top of the SEC ladder, and despite the tremendous success the new ETF has enjoyed, he isn’t convinced that things are where they need to be, citing an alleged lack of protection for crypto traders.

In a recent interview, he stated:

Investors aren’t protected the way they are, whether they go into the stock or bonds markets that we’ve overseen so long. Without that, I think it really is, as I’ve said to others, a bit of the Wild West… These markets, largely around the world, 24 hours a day, seven days a week, don’t have the similar protections against fraud and manipulation and front-running and other abuses.

Many investors have taken a serious liking to the new ETF even though it’s based on futures technology, which is considered inferior to actual physical bitcoins by many analysts and traders. Gensler even went so far as to comment that his organization isn’t likely to have much jurisdiction over the ETF despite all it’s done to prevent such a product in recent years given that futures are overseen and regulated by the Commodity Futures Trading Commission (CFTC).

He says:

It’s a matter of bringing as much of this space within the investor protection remit.

While things may not have moved in the exact direction many traders wanted, the product has opened the door for similar products to enter the crypto space. For example, following the Pro Shares debut, Valkyrie – a digital asset management firm – unveiled its own bitcoin ETF also based on futures technology.

CEO Leah Wald commented that given the positive response Pro Shares has received, she thinks additional products such as hers are going to become rather prominent in the U.S. Grayscale Investments is also looking to convert its bitcoin trust – known as GBTC – into a bitcoin spot ETF.

We Probably Won’t See a Spot ETF In the Immediate Future

The news is good, but Gensler is likely not going to approve a physically backed bitcoin ETF anytime soon according to Nate Geraci, president of the ETF Store. He mentioned in a statement:

The SEC doesn’t believe they can properly survey crypto exchanges and combat potential fraud and manipulation. While the futures-based bitcoin ETFs are a positive first step, it appears that investors might be waiting a while on a spot product.

Tags: Bitcoin ETF, Gary Gensler, SEC
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By The Numbers: What $1000 In SHIB Is Worth Now



Shiba Inu’s latest rally has taken the coin to a profit of 1000% over the last month. Here’s how much money you would have made if you had invested $1000 during different points in SHIB’s history.

Shiba Inu Is Up 1000% In The Last Thirty Days

The entire crypto market has been rallying up this past month and many coins, including Bitcoin and Ethereum, have set new all-time highs (ATHs).

But the most impressive of all has to be Shiba Inu’s rally that has taken the coin up 1000% over the last thirty days alone.

The DOGE clone’s gains have been the talk around the crypto community these past few days and people have been wishing they had invested into it earlier.

So, how much money would they have made if they had indeed invested earlier? Well, here is, in pure numbers, how much $1000 in the memecoin would be worth today if the coin was bought…

Five Days Ago

SHIB is up around 112% over the last five days so that the $1000 investment would turn into $2120 by today. That’s more than double the initial value.

That’s great, but the gain doesn’t sound too absurd in crypto terms. So let’s go back a little further to…

One Month Ago

As mentioned before, the coin is up 1000% in the last month alone. This means that if someone had invested $1000 into the coin at that time, then the same would be worth $11,000 today.

Related Reading | Bitcoin Exchange Balances Decline To Three-Year Low Amid Rising Prices

Okay, that’s amazing, but what if someone had invested even earlier? Like…

Maybe Eleven Months Ago?

A Twitter user puts into perspective, just how much $1000 in the crypto that was bought eleven months ago would be worth today:

$1.2 billion from just $1000 means this is a 119999900% increase over the initial investment! Now, THAT is impressive.

Related Reading | Why Shiba Inu (SHIB) Rallied 266% Following Biggest Dump In Its History

There is someone who did a real trade like this, but that was done even earlier, over 400 days ago. This Twitter user explains it:

From $8000 to $5.7 billion. In just 400 days. Only in crypto!

SHIB And DOGE Fight For 9th Place In Top 10 Crypto List

Shiba Inu’s rally has put the coin’s market cap head to head with that of Dogecoin‘s and both the memecoins are fighting for the ninth position in the top ten list now.

Here is how the two coins compare at the time of writing:

Shiba Inu SHIB Vs Dogecoin DOGE

DOGE is currently leading the market cap charts | Source: CoinMarketCap

Here is the rally that put the coin in the position needed to fight DOGE for its spot in the market:

Shiba Inu SHIB Price Chart

Shiba Inu's price explodes up in the last month | Source: SHIBUSD on TradingView
Featured image from, charts from

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SEC Will Reportedly Not Allow Leveraged Bitcoin ETF



The US Securities and Exchange Commission (SEC) will not approve leveraged Bitcoin Exchange-Traded Funds (ETF), says a report.

SEC Won’t Approve Leveraged Bitcoin Fund

As per a report from Wall Street Journal, the SEC has told at least one asset manager not to go ahead with plans for a leveraged Bitcoin ETF.

An exchange-traded fund is an investment product that tracks the price of a particular asset. This means that investors can invest into the said asset without actually owning it.

There are a few benefits to investing into an ETF instead of the asset itself. In the case of Bitcoin, investors who aren’t versed with the crypto world may consider such a fund an easier way to invest as they no longer need to deal with digital currency exchanges and wallets.

Another advantage is the ability to trade both long and short. When you hold BTC, you only profit when the price moves up. But trading in ETF makes it possible to earn gains in either direction.

Earlier this month, the ProShares ETF became the first such Bitcoin fund to launch, and observed record-breaking demand. Now asset managers are looking to open more products featuring the crypto, and a leveraged ETF is one of the ideas.

However, as mentioned earlier, the SEC has already shot down one of the prospectors from proceeding ahead with it.

Related Reading | How Bitcoin Will Help Twitter Improve Commerce On Its Platform, CFO Says

“Regulators have been curtailing product launches in a bid to limit investor exposure to offerings that they deem vulnerable to fraud, manipulation and other risks,” reads the report.

BTC ETFs Note Record-Breaking Numbers In Their First Week

As per the latest report from Arcane Research, the Bitcoin ETF launch 10 days ago was a very successful one and recorded massive numbers in its first week.

ProShares’ BITO fund became the fastest ever to break $1 billion in assets. It took two days to reach the milestone, while the second fastest launch ever, the SPDR Gold Shares, took three days to achieve the same mark.

Related Reading | October Bitcoin Overperformance Reminds Crypto World Why It Remains King

Valkyrie’s BTF also launched last week and achieved around $80 million in trading volume on day one. This made the ETF the 15th most successful launch in history.

Bitcoin ETF Launch

The successful first week of the BTC ETF | Source: Arcane Research

With the launch of the ETF came a boost for Bitcoin’s price that helped the crypto set a new all-time high just below $67k.

Here is a chart that shows how the coin has rallied over the past month:

Bitcoin Price Chart

BTC's price makes a new ATH | Source: BTCUSD on TradingView
Featured image from, charts from, Arcane Research

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