Kelp DAO Secures $9 Million in Private Sale to Boost Defi Expansion
Kelp DAO, a liquid restaking platform, has completed a private funding round, amassing $9 million to propel its growth in the decentralized finance (defi) sector. The funding aims to enhance the platform’s capabilities and expand into new ecosystems, including Solana and Bitcoin. Restaking Protocol Kelp DAO Secures $9 million Leading the investment round were SCB […]
BlackRock’s Ethereum spot ETF listed on DTCC under ticker $ETHA
BlackRock’s spot Ethereum ETF, $ETHA, is now listed on DTCC following SEC’s approval of multiple Ethereum ETFs.
The post BlackRock’s Ethereum spot ETF listed on DTCC under ticker $ETHA appeared first on Crypto Briefing.
SEC’s ETF decision means ETH and ’a lot’ of other tokens are not securities
That doesn’t mean the securities regulator can’t still pursue action against actors in the staking domain, industry analysts and lawyers warn.
The approval of spot Ether (ETH) exchange-traded funds is “implicit recognition” from the United States Securities and Exchange Commission that Ether is not a security, according to industry pundits.
One even suggests this could extend to other tokens as well.
“These are commodities-based trust shares, so the SEC, by approving these, is explicitly saying they’re not going to go after Ether as a security,” noted Bloomberg ETF analyst James Seyffart in a discussion with Ryan Sean Adams on the Bankless podcast.
Wells Fargo Accused of Draining Customers’ Accounts Without Notice or Authorization in ‘Blatant Disregard’ of Consumer Loan Protections: Class-Action Lawsuit
A Wells Fargo customer in California just filed a proposed class-action lawsuit accusing the bank of draining customers’ accounts in blatant violation of consumer protection laws. The plaintiff, piano teacher Helen Palma, alleges Wells Fargo unlawfully seized funds from her bank account after she fell behind on credit card payments, reports ClassAction.org. According to the filing, […]
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Top Trader Reveals ‘Obvious’ Altcoin Play Amid Potential Spot Ethereum ETF Approval
A top crypto trader thinks one Ethereum (ETH)-based decentralized finance (DeFi) token is an “obvious play” amid recent ETH developments. The pseudonymous analyst known as the Flow Horse tells his 216,500 followers on the social media platform X that the governance token of Ethena (ENA) looks promising. “Looking to go for round 2 of a […]
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VanEck drops new Ethereum ETF ad within an hour of SEC approval
VanEck launched a new ad centered around Ethereum, just 30 minutes after the SEC greenlit 19b-4 proposals for spot Ether ETFs.
Asset manager VanEck was quick to celebrate its newly-approved spot Ether (ETH) exchange-traded fund (ETF) with an arty 37-second advertisement coaxing viewers to “Enter the ether.”
VanEck posted its ad spot to X on May 23, roughly 30 minutes after the Securities and Exchange Commission approved its 19b-4 filing for a spot Ether ETF alongside BlackRock, Fidelity, Grayscale, Franklin Templeton, ARK 21Shares, Invesco Galaxy, and Bitwise.
The SEC still needs to greenlight each ETF’s S-1 filing to begin trading, which analysts say could take as long as a few months.
Zeta Markets unveils appchain ZX built on Solana infrastructure
Zeta Markets unveils ZX, a Layer 2 solution on Solana, promising high-speed, scalable derivatives trading with a 2025 mainnet launch.
The post Zeta Markets unveils appchain ZX built on Solana infrastructure appeared first on Crypto Briefing.
Hong Kong streaming firm to buy $100M of crypto, Worldcoin sanctioned: Asia Express
Hong Kong streaming firm to buy $100M of crypto, Worldcoin reprimanded on privacy, women take charge of biggest exchanges: Asia Express.
Our weekly roundup of news from East Asia curates the industrys most important developments.
Hong Kong regulators are considering allowing crypto ETF issuers inthe East Asian cityto stake their custodied Ether. According to reports, talks for greenlighting ETH staking arecurrentlyongoing, and there is no clear deadline for a decision. If approved, staking on the Ethereum network would allow issuers to earn a yield of up to 3.6% per annum by validating transactions.
But since their launch on April 30, Hong Kong spot Ether ETFs haveseen little tonotraction.Three funds have custodied a cumulative $44.9 million, and net outflows have totaled $2.2 million. On certain days, the Ether ETFs experienced no inflows whatsoever. Fee-wise, the spot crypto ETFS charge upwards of 1% per annum, compared to less than 0.30% for their U.S. counterparts.
Indian Central Bank RBI Warns Retail Investors of Crypto’s Lack of Accountability and Stability
The Reserve Bank of India (RBI)’s May 2024 bulletin warns retail investors that “the crypto ecosystem lacks accountability and stability and is marked by regulatory ambiguity.” The Indian central bank also cautioned that some cryptocurrency systems may be “prone to crisis without safeguards.” RBI Bulletin’s Crypto and Defi Warnings India’s central bank, the Reserve Bank […]Ethereum ETF Proposals Clear Key SEC Hurdle in Sudden Crypto Turnaround
The U.S. Securities and Exchange Commission appears ready to pass eight spot Ethereum ETFs after expectations on their approval flipped overnight. The agency just approved form 19b-4 filings from BlackRock, Fidelity, VanEck, Grayscale, Bitwise, Ark, Franklin Templeton and Invesco Galaxy simultaneously. Although the products have nearly obtained the full go-ahead, the SEC must approve the […]
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Ebury Botnet Expanding: Malware Continues to Steal Cryptocurrency
ESET Research has disclosed that the Ebury botnet, a formidable malware campaign targeting servers, is still active and expanding. Initially recognized for its capability as a server-side backdoor, Ebury has compromised roughly 400,000 Linux, FreeBSD, and OpenBSD servers, with over 100,000 still affected as of late 2023. The operators of Ebury have diversified their illegal […]Resolution overturning SEC crypto rule is on Biden’s desk — Now what?
President Joe Biden has ten days, excluding Sundays, to decide whether he wants to follow through on his threat to veto H.J.Res.109.
Many House of Representatives lawmakers praised this week’s passage of two pro-crypto bills, but President Joe Biden may still veto one piece of legislation lauded by industry advocates.
According to congressional records, on May 23, the House presented to the U.S. President a joint resolution calling for the Securities and Exchange Commission (SEC) to strike down a rule affecting financial institutions doing business with crypto firms. The bill, H.J.Res.109, would strike down the SEC’s Staff Accounting Bulletin (SAB) No. 121, which requires banks to keep customers’ crypto on its balance sheets, with capital maintained against them.
Before the House and Senate passed the resolution, President Biden on May 8 said he intended to veto it. He claimed the legislation would “inappropriately constrain the SEC’s ability to ensure appropriate guardrails and address future issues related to crypto-assets” and limit regulatory guidelines for digital assets.
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US Supreme Court Rules Against Coinbase in Dogecoin Sweepstakes Dispute
The Supreme Court of the United States is ruling against crypto exchange Coinbase in the Dogecoin (DOGE) sweepstakes dispute. According to new legal documents obtained by Cornell Law, the Supreme Court unanimously ruled that the conflict between Coinbase’s sweepstakes contract and user agreement must be determined through the court system. As stated by Justice Ketanji […]
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US Congress Building Pro-Crypto Army, Lawmaker Says
Crypto is gaining momentum among U.S. lawmakers. Senator Cynthia Lummis stated: “We are building a pro-crypto army in Congress.” This declaration came shortly after the House of Representatives passed the landmark Financial Innovation and Technology for the 21st Century Act (FIT21) crypto bill, despite opposition from the White House and SEC Chairman Gary Gensler. ‘We […]SEC Approves First Eight Spot Ether ETFs
The Securities and Exchange Commission (SEC) has approved the first eight proposals for spot ether exchange-traded funds (ETFs). According to a document issued on May 23 that orders grating an accelerated approval for these products, NYSE Arca obtained permission to list the Grayscale Ethereum Trust and the Bitwise Ethereum ETF, Nasdaq can now list the […]Fantom unveils Sonic Foundation for new Sonic Chain
The CEO of the Fantom Foundation has unveiled the Sonic Foundation, which will oversee the creation and launch of Fantom’s new Sonic Chain.
The Fantom Foundation, the organization behind the Fantom decentralized network, recently announced the creation of a new foundation for facilitating the launch of their new, upcoming Sonic chain.
On May, 23, Fantom Foundation CEO Michael Kong announced the new foundation on the blockchain network’s blog. Kong wrote:
Fantom’s Sonic Foundation will be tasked with overseeing Sonic’s governance, managing the network treasury, orchestrating partnerships, and developing the DApp ecosystem.
Traders say Bitcoin price correction a ‘fake out’ before the next leg up
Bitcoin price reversed course with a surprise 5% correction over the past few days, but analysts say it is a healthy pullback.
Bitcoin (BTC) price is down by 2.5% today, surprising traders who were certain that new all-time highs were in the cards after the cryptocurrency’s early week rally to $72,000.
Data from Cointelegraph Markets Pro and TradingView showed that leveraged long traders were caught off guard as BTC price suddenly dropped from a high of $71,980 on May 21 to an intra-day low of $67,550 on May 23.
“Bitcoin is still following a similar path to 2016-2017,” said independent analyst Jelle, reacting to what has become a familiar pattern for BTC in previous cycles.
Spot Ether ETFs receive official approval from the SEC
The U.S. Securities and Exchange Commission gave the green light to several spot Ether ETFs after speculation that the regulator was considering treating ETH as a security.
In a second landmark decision this year, the United States Securities and Exchange Commission has given the regulatory green light to spot Ether exchange-traded funds (ETFs) in the United States.
Ina May 23 filing, the SEC approved the 19b-4 filings from VanEck, BlackRock, Fidelity, Grayscale, Franklin Templeton, ARK 21Shares, Invesco Galaxy, and Bitwise — approving the rule changes allowing spot Ether ETFs to be listed and traded on their respective exchanges. The landmark decision came despite speculation that the securities regulator has been investigating whether to label Ether (ETH) as a security.
While the 19b-4s have been approved, ETF issuers still need the SEC to sign off on their respective S-1 registration statements for the spot Ether ETFs to officially begin trading. Industry analysts say this could take days, weeks or even months. The SEC reportedly instructed applicants to accelerate their 19b-4 filings on May 20. The removal of staking is the most notable amendment seen across several filings.
BREAKING: Ethereum spot ETFs approved by SEC
SEC approves nine Ethereum ETFs, predicting a $15-$45 billion institutional capital influx into the Ethereum market within a year.
The post BREAKING: Ethereum spot ETFs approved by SEC appeared first on Crypto Briefing.
Whales load up on Ethereum in anticipation of ETF approvals: Coinbase Institutional shifts $110M
Coinbase Institutional transfers over $20M in Ethereum as the market awaits the SEC’s decision on the Ethereum ETF.
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Brian Kelly: Solana Might Get the Next Spot ETF
Brian Kelly, founder and CEO of BKCM, a digital currency investment firm, stated that while he is still unsure about the imminent approval of a spot ether EFT, he trusts that it will be approved “at some point in time.” In an interview on CNBC, Kelly specified that solana (SOL) might be the next asset […]Ex-FTX CEO ends up in Oklahoma prison despite request from judge
Records show Sam Bankman-Fried was in the Federal Transfer Center in Oklahoma City, suggesting authorities may still transfer him to a prison in California.
Former FTX CEO Sam “SBF” Bankman-Fried is no longer incarcerated in New York or California, where his parents own a home — according to prison records, he’s in Oklahoma.
As of May 23, inmate records for the Federal Bureau of Prisons showed that Bankman-Fried was being held at the Federal Transfer Center in Oklahoma City. According to the Office of the Inspector General for the U.S. Department of Justice, the facility confines inmates on a “short-term basis” for transfers within the prison system.
SBF’s relocation to Oklahoma, coupled with reports from May 22, suggested that authorities may transfer the former FTX CEO from the Metropolitan Detention Center (MDC) in Brooklyn to the Federal Correctional Institution (FCI) in Mendota. The transfer appeared to have happened despite Judge Lewis Kaplan of the U.S. District Court for the Southern District of New York recommending SBF stay at MDC Brooklyn.
Uniswap Responds to SEC’s Wells Notice, Argues Tokens Are Not Securities but ‘File Format’ for Value
Uniswap (UNI) is fighting back against the U.S. Securities and Exchange Commission (SEC). The largest decentralized exchange by trading volume received a Wells Notice from the SEC last month, which indicates the regulator intends to take enforcement actions against the DEX soon. Marvin Ammori, the chief legal officer at Uniswap Labs, notes that the project […]
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This Crypto Asset Could Be the Spot ETF Candidate After Bitcoin and Ethereum, According to Investor Brian Kelly
The founder and CEO of an investment firm specializing in digital currencies is looking down the line for the next crypto exchange-traded fund (ETF). In a new CNBC interview, BKCM LLC head Brian Kelly reacts to speculation that the U.S. Securities and Exchange Commission (SEC) could approve Ethereum (ETH) ETF applications as soon as tomorrow by naming which digital […]
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Former Bitmex CEO Arthur Hayes: A Weak Yen Solution Might Propel Bitcoin to $1 Million
Arthur Hayes, former CEO of Bitmex and current CIO of Maelstrom, has predicted the geopolitical and economic dynamics that will be taken to equilibrate the exchange rate between the U.S. dollar and the Japanese yen might propel bitcoin prices to $1 million. Hayes states that eventually, the U.S. will be forced to act by printing […]
House of Representatives halts Fed’s CBDC plans with new legislation
House passes bill to block Federal Reserve from issuing a CBDC, citing privacy and Fourth Amendment concerns.
The post House of Representatives halts Fed’s CBDC plans with new legislation appeared first on Crypto Briefing.
What is FIT21?
Explore the FIT21 bill, a pivotal move towards establishing a crypto regulation framework in the US, involving key financial agencies.
The post What is FIT21? appeared first on Crypto Briefing.
Meet the women behind the world’s largest crypto exchanges
Both former television hosts, Binance’s Yi He and Bitget’s Gracy Chen, currently lead the world’s largest crypto exchanges by volume.
It’s a little-known fact that women are behind two of the world’s largest cryptocurrency exchanges.
In a blog post published on May 21, Gracy Chen, formerly the managing director of crypto exchange Bitget, who now serves as the firm’s CEO, detailed her journey in leading an exchange that currently facilitates $4 billion in trading volume:
Chen described how at 18, she received a scholarship to study Applied Mathematics in Singapore and became a television host for a Chinese finance and technology program upon graduation, where she learned about Bitcoin (BTC), back then at $300, from her interviewees in 2015:
Coinbase Derivatives To Offer Oil and Gold Futures Contracts in Push To Bridge TradFi and Digital Assets
The derivatives arm of the largest US-based crypto exchange is launching retail-sized futures contracts for oil and gold. In a statement, Coinbase Derivatives says that while crypto derivatives remain at the core of its business, it is introducing commodities futures contracts to give customers enhanced trading opportunities in the traditional markets. Commodity futures contracts oblige […]
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