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Adoption Wave: Google to Allow Bitcoin and Ripple (XRP) Ads Starting from January 29th, Reaching Billions of People and Companies
January 28, 2024
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  • Google updates policies on January 29 to allow Bitcoin ETF ads, boosting crypto visibility.
  • Crypto experts optimistic about new Bitcoin ETF listings, boosted by Google’s extensive search capabilities.

The crypto sphere muses on the potential impact on spot Bitcoin ETFs as Google processes 100,000 inquiries per second.

On Monday, January 29th, Google will amend its regulations to allow the promotion of certain crypto products on its main search platforms. It appears likely that Bitcoin exchange-traded funds (ETFs) will satisfy these requirements, triggering conjecture in the cryptocurrency arena.

In December 2023, it was revealed that Google’s policy regarding cryptocurrencies and related ads would undergo an overhaul on January 29 to admit advertising from:

“advertisers proposing cryptocurrency exchange-traded funds targeting U.S. audiences.

Reports are circulating about Google changing its policy to allow Bitcoin ETFadvertising as of Jan. 29. Google processes 100,000 searches/second. Expect an unprecedented level of institutional and retail exposure for Bitcoin. Prepare accordingly.

Google Makes a Splash: Bitcoin and Ripple (XRP) Ads Go Live from Jan 29th, Reaching Millions

3 million dollars in cryptocurrencies stolen on Christmas Day

With the recent approval of 11 spot Bitcoin ETFs by the U.S. Securities and Exchange Commission (SEC) on Jan. 10, investors who purchase shares in a spot Bitcoin ETF get a stake in the fund’s Bitcoin holdings. This is in line with Google’s revamped standards:

“Financial products that enable investors to trade shares in trusts that accumulate large amounts of digital currency.”

“MS Drainer” scammers used Google ads to steal $59 million in crypto. Crypto experts are optimistic about future entries into Bitcoin ETFs, citing Google’s impressive transaction processing capabilities in its searches. According to DemandSage, Google runs 8.55 billion searches daily.

However, Google ambiguously mentions permitted products as “cryptocurrency trusts.”

Meanwhile, one of the largest Bitcoin trusts, the Grayscale Bitcoin Trust (GBTC), recently converted to a spot Bitcoin ETF as part of those approved by the SEC on Jan. 10. Previously, the purchase of GBTC shares in the primary market was limited to accredited investors and subject to a six-month holding period.

BTC price contention persists for $40,000

Accredited investors must have a net worth greater than $1 million or income greater than $200,000 in the last two years. These regulations seek to protect potential investors with limited knowledge about risky investments that could deplete their funds.

However, spot Bitcoin ETFs are available to the general public in the United States, regulated under the Securities Act of 1933, making them a safer alternative for Google to consider promoting.

In August 2021, well-known cryptocurrency trader Michael van de Poppe was optimistic about the impact of Google’s announcements on Bitcoin products, especially after the SEC chairman explored Bitcoin futures ETFs, approved in October 2021.

SEC chairman is open to a Bitcoin ETF. Following Google’s openness to Bitcoin listings, a significant boom is foreshadowed.

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New Human Force
Join this Now! YOU have what it takes!

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The Great Onboarding: US Government Anchors Global Economy into Web3 via Pyth Network

For years, the crypto world speculated that the next major cycle would be driven by institutional adoption, with Wall Street finally legitimizing Bitcoin through vehicles like ETFs. While that prediction has indeed materialized, a recent development signifies a far more profound integration of Web3 into the global economic fabric, moving beyond mere financial products to the very infrastructure of data itself. The U.S. government has taken a monumental step, cementing Web3's role as a foundational layer for modern data distribution. This door, once opened, is poised to remain so indefinitely.

The U.S. Department of Commerce has officially partnered with leading blockchain oracle providers, Pyth Network and Chainlink, to distribute critical official economic data directly on-chain. This initiative marks a historic shift, bringing immutable, transparent, and auditable data from the federal government itself onto decentralized networks. This is not just a technological upgrade; it's a strategic move to enhance data accuracy, transparency, and accessibility for a global audience.

Specifically, Pyth Network has been selected to publish Gross Domestic Product (GDP) data, starting with quarterly releases going back five years, with plans to expand to a broader range of economic datasets. Chainlink, the other key partner, will provide data feeds from the Bureau of Economic Analysis (BEA), including Real Gross Domestic Product (GDP) and the Personal Consumption Expenditures (PCE) Price Index. This crucial economic information will be made available across a multitude of blockchain networks, including major ecosystems like Ethereum, Avalanche, Base, Bitcoin, Solana, Tron, Stellar, Arbitrum One, Polygon PoS, and Optimism.

This development is closer to science fiction than traditional finance. The same oracle network, Pyth, that secures data for over 350 decentralized applications (dApps) across more than 50 blockchains, processing over $2.5 trillion in total trading volume through its oracles, is now the system of record for the United States' core economic indicators. Pyth's extensive infrastructure, spanning over 107 blockchains and supporting more than 600 applications, positions it as a trusted source for on-chain data. This is not about speculative assets; it's about leveraging proven, robust technology for critical public services.

The significance of this collaboration cannot be overstated. By bringing official statistics on-chain, the U.S. government is embracing cryptographic verifiability and immutable publication, setting a new precedent for how governments interact with decentralized technology. This initiative aligns with broader transparency goals and is supported by Secretary of Commerce Howard Lutnick, positioning the U.S. as a world leader in finance and blockchain innovation. The decision by a federal entity to trust decentralized oracles with sensitive economic data underscores the growing institutional confidence in these networks.

This is the cycle of the great onboarding. The distinction between "Web2" and "Web3" is rapidly becoming obsolete. When government data, institutional flows, and grassroots builders all operate on the same decentralized rails, we are simply talking about the internet—a new iteration, yes, but the internet nonetheless: an immutable internet where data is not only published but also verified and distributed in real-time.

Pyth Network stands as tangible proof that this technology serves a vital purpose. It demonstrates that the industry has moved beyond abstract "crypto tech" to offering solutions that address real-world needs and are now actively sought after and understood by traditional entities. Most importantly, it proves that Web3 is no longer seeking permission; it has received the highest validation a system can receive—the trust of governments and markets alike.

This is not merely a fleeting trend; it's a crowning moment in global adoption. The U.S. government has just validated what many in the Web3 space have been building towards for years: that Web3 is not a sideshow, but a foundational layer for the future. The current cycle will be remembered as the moment the world definitively crossed this threshold, marking the last great opportunity to truly say, "we were early."

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US Dept of Commerce to publish GDP data on blockchain

On Tuesday during a televised White House cabinet meeting, Commerce Secretary Howard Lutnick announced the intention to publish GDP statistics on blockchains. Today Chainlink and Pyth said they were selected as the decentralized oracles to distribute the data.

Lutnick said, “The Department of Commerce is going to start issuing its statistics on the blockchain because you are the crypto President. And we are going to put out GDP on the blockchain, so people can use the blockchain for data distribution. And then we’re going to make that available to the entire government. So, all of you can do it. We’re just ironing out all the details.”

The data includes Real GDP and the PCE Price Index, which reflects changes in the prices of domestic consumer goods and services. The statistics are released monthly and quarterly. The biggest initial use will likely be by on-chain prediction markets. But as more data comes online, such as broader inflation data or interest rates from the Federal Reserve, it could be used to automate various financial instruments. Apart from using the data in smart contracts, sources of tamperproof data 👉will become increasingly important for generative AI.

While it would be possible to procure the data from third parties, it is always ideal to get it from the source to ensure its accuracy. Getting data directly from government sources makes it tamperproof, provided the original data feed has not been manipulated before it reaches the oracle.

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If you find value in my content, consider showing your support via:

💳 PayPal: 
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🔗 Crypto
XRP: r9pid4yrQgs6XSFWhMZ8NkxW3gkydWNyQX
XLM: GDMJF2OCHN3NNNX4T4F6POPBTXK23GTNSNQWUMIVKESTHMQM7XDYAIZT
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