The rumor mill is churning with Speculation that X's new payment Platform will integrate Crypto good morning you're listening to The ryzen crypto podcast by coin Telegraph with me Robert bags steering You through the crypto Cosmos with daily Dispatches from the digital Frontier I'll do you a deal you click that follow Button and I'll keep you ahead of the Curve in crypto okay grab yourself a Coffee and let's get into It happy Monday everyone the crypto Osphere was a light with rumors this Weekend and that will be the first story I cover today but here is the rundown Will X's upcoming payment platform Include crypto whether they will or Won't the rumors have caused a Dogecoin Spike NASDAQ and sibo have applied to Offer options trading on the spot Bitcoin ETFs Tresor has disclosed a Security breach which has affected 66,000 of its users and a litigation Expert puts the probability of coinbase Getting a full dismissal of the SEC Lawsuit at 70% So the social media platform X do I Still need to say formally Twitter is on The verge of launching its payments Services the question is will it include Crypto a new X account was created this Month called at X payments and it's Marked with both a golden tick to denote
Its officially part of an organization And the X icon which means it's an Official account of X the rumors of an Inapp payment service have been doing The rounds for years even before Elon Musk bought it and now it looks set to Arrive by the middle of 2024 musk has Even suggested it will compete with the Likes of PayPal and Visa in a blog post By X on the 9th of January this year They wrote We will launch peer-to-peer Payments unlocking more user utility and New opportunities for Commerce and Showcasing the power of living more of Your life in one place this has prompted Many crypto industry commentators on X To weigh in on whether crypto will be a Part of the accepted funds the crypto Researcher Mason VL posted so X is Building X payments it's only right they Include the X coins xrp xlm xdc xyo Etc I want to see a massive crypto Integration from X Change the World Elon Set Fire to the SEC plus the banks with This play now as many of you will Already know musk has a history with Crypto musk was much of the reason the Mcoin Dogecoin got to its dizzying Heights after musk bought Twitter in April 2023 he changed its logo to Dogecoins logo and he even allowed People to purchase Tesla's merchandise For Dogecoin incidentally Dogecoin is Enjoying its own spike in interest off
The back of X payments this weekend Doge Climbed 12.8% in 9 hours almost entirely Off of the back of speculation that Doge Will be included in this payments Platform on X one xuser at hello I'm Morgan even posted a picture of Elon Musk's location on his X profile which Shows the X logo followed by a d this D Has a horizontal line through the Vertical line of a capital D which is as This person highight highlights the Doge Symbol on a recent xace musk said and I Quote I still own a bunch of Dogecoin And Space X owns a bunch of Bitcoin Furthermore Tesla still owns around 10,000 Bitcoin now while there are a lot Of reasons to be bullish about this I Can't shake the feeling that musk's Recent disinterest in crypto may be a Factor it's also worth noting that for X's P2P payment system to work globally Crypto could represent a large hurdle There's just no way the SEC would have Nothing to say about that that said if Anyone was going to do it it's going to Be Elon Musk what do you think will X's Payment system be crypto enabled share Your thoughts with us on atoin Telegraph And at RK Bags the spot Bitcoin ETFs have been Analyzed to within an inch of their Lives and while it's too early to give You another rundown check out Wednesday The 17th of January's episode for the
Last one I can tell you that the inflows Are now outpacing grayscale Bitcoin Trusts outf flows so it's definitely Going very well the natural progression From the spot Bitcoin ETFs was thought To be the spot ether ETFs as ethereum is Their obvious next choice for an ETF and That is likely to be the next major Story here however there is something That sio's Executive Vice President Katherine clay called the next logical Step and that's options on bitcoin ETFs On Friday the SEC acknowledged that NASDAQ and sibo had put in proposals to Begin options trading on bitcoin ETFs Katherine clay said we're really in this Holding pattern to see what the Regulators will do with our filing and Other exchanges filings as well it's Really difficult to know if if we will Even see approval the Veta fire analyst Dave nadig told CNBC I think you're Going to start seeing all sorts of hedge Fund players in the btcf options space Folks that might not have been Traditionally speculating on crypto Directly in the crypto ecosystem are now Going to have something to play with one Question I asked myself about this news Is why it's potentially important why Would someone want to trade options on The spot Bitcoin ETFs rather than simply Buy shares in the ETFs themselves so There are several answers to this
Question with an overarching one being The options provide leverage that is a Trader can gain more exposure to ETF Shares for less money however what Informs this answer and really all Answers to this question was given to me By Stu Cleland our head of news Stu said Essentially it gives you the added value Of being able to benefit from the etf's Tracking down if you hold shares in the ETF you only stand a gain if the Underlying asset so Bitcoin gains in Price with options you can invest long Or short so if you think the price is Going to Trend down you can short and Make a profit the other element of this Story that's particularly interesting Was flagged by the ETF Analyst at Bloomberg James saart he posted on X the SEC has already acknowledged the 19 B4 Forms requesting the ability to trade Options on spot Bitcoin ETFs this is Faster than the SEC typically moves Options could be approved before the end Of February if SEC wants to move fast so I think this is a narrative of the spot Bitcoin ETFs we will have to track as For how this might affect Bitcoin coin There are as many answers as there are Questions some are saying it will Increase the liquidity and better price Discovery While others are saying it Will just serve to increase bitcoin's Price volatility the hardware wallet
Manufacturer Tresor has alerted the Community of a security breach in an Announcement this weekend Tresor stated That unauthorized access to a Third-party support portal was gained And that users who have interacted with Trezor's support team since December 2021 may have had their data accessed Tresor wrote although unconfirmed we Consider our responsibility to inform Our affected users of the possibility That their contact details have been Exposed and at risk of a fishing attack The number of contacts that were exposed To the unauthorized party appears to be Around 66,000 and trasor has alerted all Of them to the incident by email Tresor Added we want to stress that none of the Users funds have been compromised Through this incident your traser device Remains as secure today as it was Yesterday since the security breach Users have been reporting fishing Attempts asking for their recovery seed Phrases which is both a positive and a Negative obviously targeted fishing Attempts as a result of a security Breach are probably more likely to be Effective than fully cold fishing Attempts however asking for the 24 Recovery seed phrases means the hacker Did not gain access to them which trasor Confirmed as of recording this no major Incidents have been reported but it's
Worth noting that if you're a traser User fishing attempts might be more Prevalent so be extra vigilant and for Everyone in crypto a reminder that you Should never share your recovery seed Phrases last Thursday on the 18th of January I covered a major moment in an Important and ongoing story in crypto The sec's lawsuit against coinbase the SEC is alleging that coinbase has Violated several Securities laws and That 13 tokens listed on the exchange Were Securities the judge on the case is Katherine PK fer who dismissed the Unis Swap case and has a deep understanding Of crypto last week's hearing revolved Around what constitutes a security the Howe test as you'd expect and some of Judge filer's questions seem to be early But positive indicators for coinbase so It might not come as a great surprise That some legal experts are feeling Confident that coinbase will emerge from This lawsuit the happier of the two Parties Bloomberg's senior litigation Analyst Elliot Stein has done what the Expert folk at Bloomberg seem to do put A percentage probability on the outcome Stein wrote I went into the SEC versus Coinbase hearing thinking coinbase would On this motion when dismissal of the Sec's primary claims concerning trading But maybe not staking and broker claims I left thinking coinbase would win full
Dismissal in Stein's article he wrote That coinbase has a 70% likelihood of Winning the motion noting that the judge Wanted a limiting principle to the SEC Definition of an investment contract That wouldn't Encompass Collectibles we View the one offered by coinbase as more Compelling requiring investment in a Business versus just an ecosystem along With an enforcable obligation he also Went on to cite the Ripple rolling from July so in these early stages it is Looking pretty good for coin base and The Howe test is going to be front and Center once again many have pointed out That the Ripple ruling in July which Said the institutional Investments were The only ones that could be deemed Securities has started a domino effect On similar cases but it remains that This SEC lawsuit against coinbase will Be seminal for crypto in the United States so I will be bringing you every Major update on it and for now it Appears to be Advantage Coinbase so that's you caught up on this Weekend's happenings Bitcoin was and Still is as of this morning bouncing Around the same range and as William Suberg wrote this morning a lot of Analysts seem to be suggesting that Bitcoin Traders are eyeing sub $40,000 Levels for longs it does feel like Something's going to happen this week
But it's crypto so when doesn't it Whatever the case that is your daily Debrief done consider yourself informed Thank you for listening to the ryen Crypto podcast by coin Telegraph if You're enjoying these daily updates Please make sure you let us know by Following subscribing or leaving a Review have a great great Monday let's Do this again [Music] Tomorrow
Coinbase is a popular cryptocurrency exchange. It makes it easy to buy, sell, and exchange cryptocurrencies like Bitcoin. Coinbase also has a brokerage service that makes it easy to buy Bitcoin as easily as buying stocks through an online broker. However, Coinbase can be expensive due to the fees it charges and its poor customer service.