Quickly understand the history and background of various well-known coins

Bitfinex Brings Bitcoin Mining to El Salvador; Tether Enables Faster USDT Transactions on Bitcoin Lightning Network; SEC Approves Bitwise's Innovative Crypto Combo ETF

Coin WorldThursday, Jan 30, 2025 9:24 pm ET

1min read

Bitfinex Securities to Issue Bitcoin Mining Note BMN2 in El Salvador

Bitfinex Securities, a subsidiary of the cryptocurrency exchange Bitfinex, has announced plans to issue the Blockstream Mining Note 2 (BMN2) in El Salvador during the first quarter of this year. The BMN2 is a tokenized financial product that allows investors to receive Blockstream's Bitcoin mining rewards through holding. The previously issued BMN1 in Luxembourg has paid investors over 1,212 BTC (approximately $70.68 million) over a three-year period, achieving a 108% return on investment. Compared to the Luxembourg version, the El Salvador-issued BMN2 will lower the investment threshold and no longer require a minimum investment of $100,000.

Tether Integrates USDT with Bitcoin Lightning Network for Enhanced Transactions

Tether, the issuer of the largest stablecoin by market capitalization, has integrated its USDT stablecoin into the Bitcoin Lightning Network. This integration, facilitated by Lightning Labs, enables faster and more cost-effective transactions while leveraging Bitcoin's security and scalability. The Taproot Assets protocol, developed by Lightning Labs, expanded the Bitcoin network's functionality to support tokenized assets, allowing USDT to function effectively within the Lightning Network. This development is expected to facilitate smoother, faster transactions and expand options for both merchants and consumers, particularly in emerging markets where stablecoins serve as critical hedges against local currency devaluation.

SEC Approves Bitwise's Innovative Bitcoin and Ethereum Combo ETF

On January 31, the U.S. Securities and Exchange Commission (SEC) granted approval for Bitwise's innovative Bitcoin and Ethereum combo ETF. This significant development allows the fund to seamlessly hold both physical Bitcoin and Ethereum simultaneously, marking a pivotal moment in the evolution of cryptocurrency investment vehicles. By diversifying exposure to both leading cryptocurrencies, Bitwise aims to attract a broader range of investors seeking to capitalize on the potential of blockchain technologies. This combination ETF not only enhances liquidity but also provides a more streamlined investment approach in a rapidly changing market landscape. The authorization from the SEC underscores its commitment to fostering a regulatory framework that accommodates the growing complexities of digital asset investments.

Disclaimer: The news articles available on this platform are generated in whole or in part by artificial intelligence and may not have been reviewed or fact checked by human editors. While we make reasonable efforts to ensure the quality and accuracy of the content, we make no representations or warranties, express or implied, as to the truthfulness, reliability, completeness, or timeliness of any information provided. It is your sole responsibility to independently verify any facts, statements, or claims prior to acting upon them. Ainvest Fintech Inc expressly disclaims all liability for any loss, damage, or harm arising from the use of or reliance on AI-generated content, including but not limited to direct, indirect, incidental, or consequential damages.