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Bitcoin ETFs shed $1.2B in red week, but Schwab remains bullish

Bitcoin ETFs experienced significant losses this week, shedding $1.22 billion as the price of Bitcoin dropped sharply from over $115,000 to just below $104,000. The eleven spot Bitcoin ETFs in the US saw an outflow of $366.6 million on Friday alone, with BlackRock's iShares Bitcoin Trust facing the largest pullout at $268.6 million. Despite these outflows, Charles Schwab reported that its clients now own 20% of all US crypto exchange-traded products, highlighting a notable increase in engagement with its crypto offerings. Visits to Schwab's crypto site surged by 90% over the past year, indicating a strong interest among clients despite the broader market downturn. October has historically been a strong month for Bitcoin, but this year it has seen a 6% decline, raising questions about future performance. Analysts remain hopeful that the second half of the month could bring a resurgence in prices, as past trends suggest positive movements during this period.

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Wikipedia Traffic Drops as AI Answers Eat the Free Encyclopedia

The Wikimedia Foundation has reported an 8% decrease in human traffic to Wikipedia, attributing the decline to users opting for AI-generated summaries displayed directly in search engines rather than visiting the site. Nearly 60% of Google search queries now yield instant responses powered by Wikipedia content, which has led to

Stablecoins are really 'central business digital currencies' — VC

Jeremy Kranz, founder of Sentinel Global, emphasizes the need for investors to exercise discernment regarding privately-issued stablecoins, as they present risks akin to central bank digital currencies (CBDCs) alongside unique challenges. He describes these stablecoins as 'central business digital currencies' that can allow issuers like banks to control

Ondo Finance Urges SEC to Delay Nasdaq's Tokenization Plan Over Transparency Gaps

Ondo Finance has asked the U.S. Securities and Exchange Commission (SEC) to postpone a proposed rule change from Nasdaq that would allow for the trading of tokenized securities. The firm raised concerns regarding a lack of transparency surrounding the operations of the Depository Trust Company (DTC), which is expected

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