Altcoin Fantom (FTM), a cryptocurrency project listed on Binance, is on the agenda today with an important announcement on page X. On the other hand, there are striking developments in the field of crypto money today. Let’s look at the details.
Important announcement from Altcoin Fantom
It recently faced security breaches that resulted in the theft of significant amounts of altcoin FTM from some Fantom wallets, leading to a decline in its value. This security incident has caused concern among investors. However, the altcoin Fantom Foundation hinted at an upcoming development through a video on its official account.
10.24.23#PhantomSonic pic.twitter.com/9ll07KbeQJ
— Fantom Foundation (@FantomFDN) October 19, 2023
The video, which states the phrase “Phantom Sonic” and the date October 24, 2023, indicates that the Phantom Sonic Testnet will be launched. Speculation is emerging that Phantom may rebrand as “Sonic.” However, there is no official confirmation yet. This announcement briefly increased the value of the altcoin FTM. However, as the date approaches, it remains unclear how it will affect the price dynamics of the cryptocurrency.
The decision will come from the court
A major decision in the Bitcoin ETF case between Grayscale and the SEC is expected tomorrow, as the US appeals court reconsiders a previous court victory for Grayscale in August. Grayscale aims to convert its Bitcoin Trust into an exchange-traded fund (ETF). Accordingly, he was initially successful in the legal battle. However, tomorrow’s court decision will determine whether this decision will be implemented or not. According to financial attorney Scott Johnson, if a retrial is not requested, the court will dismiss the case. On the other hand, new orders may be issued to extend the process. These developments are, of course, issues that the Bitcoin and altcoin world follows closely.
A successful Bitcoin ETF launch by Grayscale will help reduce uncertainty. Additionally, this development will have important consequences for the Bitcoin and altcoin industry. In particular, the fact that the SEC did not appeal the August decision raised hopes among investors. Bloomberg Intelligence analyst James Seyffart points out the lack of precedent in this case. It also underscores the expectation for more information regarding next steps from the SEC, Grayscale or the court. Many industry experts, including Galaxy Digital CEO Michael Novogratz and Bloomberg Intelligence analysts, think the SEC may approve multiple ETF applications this year, including those from Grayscale and BlackRock. This decision could have a huge impact on the Bitcoin and altcoin market.
Blockchain company acquired
Depository Trust & Clearing Corp., one of the leading clearing companies in the USA. (DTCC) made a move. Accordingly, Securrency Inc., a Maryland-based blockchain technology company. announced the acquisition of the company. DTCC will pay $50 million for Securrency. It will also be the first acquisition deal since 2013. DTCC is a major player in the financial industry, with a global presence and a history of automating and standardizing financial transactions for numerous institutions around the world. In 2021, it carried out 800 million securities transactions worth a total of 2.37 quadrillion dollars. When we look at it as cryptokoin.com, the move created excitement in the Bitcoin and altcoin world.
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