Top Ethereum Challenger Could Skyrocket by Over 2x, According to Crypto Analyst Michaël van de Poppe
A widely followed crypto analyst believes one Ethereum (ETH) competitor could more than double in price. Crypto trader Michaël van de Poppe tells his 718,900 followers on the social media platform X that interoperability blockchain Polkadot (DOT) is poised to rally due to major network advances. He also says DOT is likely to see a […]
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Algorand causes a stir with new ad bashing Bitcoin, Ethereum and Solana
The Algorand Foundation’s latest ad takes a swipe at the “big three” crypto networks, saying they’re too slow, too expensive or prone to failure.
The foundation behind layer-1 blockchain Algorand has attracted mixed feelings over a new ad that takes a big swipe at rival networks Bitcoin, Ethereum, and Solana — suggesting they are not suitable for payments.
On May 23, the Algorand Foundation released a new advertisement on YouTube titled “When blockchains meet the real world, only one delivers.”
The ad features a supermarket checkout with shoppers attempting to pay in three different crypto assets, Bitcoin (BTC), Ether(ETH), and Solana (SOL).
SEC’s ETF nod could bring ‘ETH season’ if 3 key indicators hold
Three key indicators suggest the possibility that ETH could surpass its all-time high, according to a crypto trader.
Ether (ETH) could surge to retest the $5,000 price mark it fell short of in 2021 if three long-term indicators continue flashing, says one crypto trader.
“The dominance chart suggests we’re entering an ‘ETH Season’ where Ethereum is likely to outperform other cryptocurrencies,” pseudonymous crypto trader Blockchain Mane told Cointelegraph.
It follows the Securities and Exchange Commission’s May 23 initial approval of eight spot Ether exchange-traded funds (ETFs).
IMF Calls Zimbabwe’s Gold-Backed Currency an ‘Important Policy Action’
The International Monetary Fund (IMF) has stated that Zimbabwe’s recently introduced gold-backed fiat currency represents a significant policy step. This is the IMF’s first substantial comment on the currency since its inception. The global lender has reportedly announced plans to send a team in June to evaluate the performance of the new currency. Contrasting IMF […]Federal Reserve Poll Reveals Only 7% Used Cryptocurrency in 2023; Contradicts Coinbase Data
The “Economic Well-Being of U.S. Households in 2023” survey, prepared by the Federal Reserve and executed by Ipsos, has revealed that only 7% of the people polled held or used cryptocurrency in the U.S. The survey, which included 11,400 respondents, contrasts with the over 52 million U.S. citizens who crypto exchange Coinbase claims hold crypto […]Polymarket gets backlash over ‘approved’ outcome on $13M Ethereum ETF bet
A multi-million bet on “Ethereum ETF approved by May 31” resolved to a “Yes” on Polymarket as news from the SEC broke, but the losing side argues it’s not over yet.
Polymarket users who lost money by betting against the approval of spot Ether (ETH) exchange-traded funds (ETFs) are crying foul toward the decentralized betting platform, arguing the bet is still on.
One betting market on the blockchain platform saw over $13.2 million worth of bets placed on whether an Ether ETF would be approved by May 31 — but it didn’t exactly detail what “approved” meant.
The market closed at a “Yes” result on May 23, after the Securities and Exchange Commission greenlit the 19b-4 filings for multiple Ether ETFs. Polymarket’s logs show the result was briefly disputed but ultimately resolved with the same “Yes” outcome.
Man behind AI-generated fake Biden robocalls is indicted
Steven Kramer allegedly used deep fake tech to generate and send thousands of robocalls to New Hampshire residents imitating President Biden’s voice in January.
A Democratic political consultant has been indicted over his role in launching artificial intelligence-generated robocalls imitating United States President Joe Biden.
According to the New Hampshire Attorney General’s Office, on May 23, New Orleans political consultant Steven Kramer, who was working for rival candidate Dean Phillips, was indicted for impersonating a candidate during New Hampshire’s Democratic primary election.
He allegedly used AI to generate and send thousands of robocalls to New Hampshire residents imitating President Biden’s voice, asking people not to vote.
Ethereum ETFs launch next month ‘certainly possible’ — Analyst
The launch date will largely depend on how quickly approved applicants amend their S-1 registration statements and how many rounds of feedback they receive from the SEC.
The newly-approved spot Ether (ETH) exchange-traded funds could launch as early as mid-June — if the United States securities regulator follows a similar timeline to its spot Bitcoin ETF process.
Spot Ether ETFs got the green light for their 19b-4 filings today, allowing the funds to be listed on their respective exchanges. However, applicants will first need approved S-1 registration statements to begin trading.
Bloomberg ETF analyst James Seyffart has been saying S-1 approvals could come in a “couple of weeks,” but also noted that they “could take longer” as the process typically takes up to five months.
Ethereum ETF approved so why aren’t we rich yet?
Crypto commentators suggest there could be two reasons why the price of ETH hasn’t rocketed in the wake of spot Ether ETF approvals.
There could be two main reasons why Ether (ETH) has barely moved in price despite the landmark approval of spot Ether exchange-traded funds (ETF) in the United States.
On May 23, the Securities and Exchange Commission approved eight spot Ether ETFs to be listed on their respective exchanges. Ether fell 3.4% just before the news, recovering by around 5% shortly after, and is currently trading at $3,806.
Crypto commentator Zach Rynes argues that the lack of movement reflects the notion that “everyone who wanted to buy the approval already did.”
Former Bank CEO Pleads Guilty to Embezzling $47M to Buy Crypto, Leading to Bank Collapse
Former Heartland Tri-State Bank CEO Shan Hanes pleaded guilty on Thursday to embezzling $47.1 million for personal cryptocurrency purchases, leading to the bank’s collapse. From May to July 2023, Hanes executed at least 10 wire transfers from the Elkhart-based bank to cryptocurrency accounts. The bank’s failure resulted in a total loss of equity for investors. […]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.
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