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Unveiling the Solana Saga: From Microwaves to NFTs

The recent stunt involving a Solana Saga smartphone being microwaved by influencer Bangerz has sparked both controversy and intrigue within the crypto community. Here's a breakdown of the events and the aftermath: The Saga of the Solana Saga Smartphone Microwaving Incident Bangerz, a self-proclaimed "washed-up influencer" and CEO of NFT launchpad 3land, posted a video of herself microwaving one of the limited 20,000 Solana Saga smartphones. The video depicted the smartphone emitting crackling sounds, steaming, and eventually dripping a mysterious liquid as the screen bubbled off the hardware. Following the microwave stunt, Bangerz minted 3,333 commemorative Solana NFTs inspired by the video, all free to mint via 3land. Solana co-founder Anatoly Yakovenko and other Solana users reacted to the NFT release, with the message "Saga phones are now deflationary" gaining attention. The Saga Microwave NFTs were quickly minted and started trading on secondary marke

DTCC Removes BlackRock's Bitcoin ETF: Impact on Bitcoin Price and SEC Review

The Depository Trust and Clearing Corporation (DTCC) recently made headlines when it removed BlackRock's Bitcoin ETF (iBTC) from its ETF list. This decision had an immediate impact on Bitcoin's price, causing it to drop from $34,527 to $33,432 in just 30 minutes—a 3% decrease. While the DTCC has yet to comment on the removal, Bloomberg ETF analyst James Seyffart predicted that the SEC may have played a role in this development. BlackRock, on the other hand, declined to comment due to the SEC filing restriction period. Eric Balchunas from Bloomberg noted that it was surprising to see BlackRock on the DTCC's list, as the typical timeframe for an ETF to begin trading after being listed is within a week. This news comes after Bitcoin's price surged to a yearly high of $35,000, and the SEC received an official order to review Grayscale's Bitcoin ETF application. While some analysts believe the SEC may have run out of reasons to reject it, the public comment period for BlackRock and other Bitcoin ETF applicants is still ongoing until November 8th.

The DTCC's Role in Financial Markets

The Depository Trust and Clearing Corporation (DTCC) is a crucial player in the world of financial markets. It provides settlement and clearing services for various exchanges, including the NASDAQ. One of its functions is to maintain an ETF list, which allows investors and market participants to track and trade these products. Being listed on the DTCC's ETF list is considered standard procedure for bringing an ETF to market. However, it typically occurs within a week of the fund actually beginning to trade.

BlackRock's Brief Showcase and Growing Excitement

BlackRock's brief showcase of its Bitcoin ETF on the company's site on Monday fueled a wave of growing excitement among investors. This showcase contributed to the belief that an imminent spot Bitcoin ETF approval was on the horizon, despite the fact that such a product has yet to reach U.S. investors. As a result of this excitement, Bitcoin's price surged to a yearly high of $35,000.

SEC's Review of Grayscale's Bitcoin ETF Application

On the same day, the Securities and Exchange Commission (SEC) received an official order to review Grayscale's Bitcoin ETF application. This news has led analysts to speculate that the SEC may have run out of reasons to reject it. However, it's important to note that the SEC's public comment period for the suitability of BlackRock and other Bitcoin ETF applicants is still ongoing. The deadline for comments is November 8th, and typically, these comments are reviewed for a while before a final decision is made.

In the midst of these developments, the DTCC's removal of BlackRock's Bitcoin ETF from its list has raised questions and sparked further speculation. While the exact reasons for this removal remain unknown, it is clear that the cryptocurrency market continues to be influenced by regulatory decisions and developments. Investors and market participants will undoubtedly be closely watching for any further updates and announcements from the DTCC, BlackRock, and the SEC regarding Bitcoin ETFs.

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