Hashing It Out: Navigating the next wave of Web3 with Avail’s Anurag Arjun
On the latest episode of Hashing It Out, Avail’s co-founder explains the need to unify multiple networks in the Web3 space, not just ideologically but through innovation.
In this week’s episode, Hashing It Out dives into the evolving landscape of Web3 and blockchain technology with Anurag Arjun, co-founder of Avail. The discussion covers the unification of the Web3 ecosystem, the rise of rollups, the challenges of fragmentation and the innovations paving the way for mass adoption.
Arjun discusses the fragmentation of the Web3 ecosystem and Avail’s role in unifying it. He explains that the increasing number of layer-1 and layer-2 blockchains offering innovation can be detrimental to the space due to fragmentation and user confusion. He emphasizes the importance of a modular architecture, where multiple blockchains can operate on top of a secure base layer, sharing the same economic security.
Avail aims to address this fragmentation by providing a scalable and reliable base layer for rollups, enabling the creation of numerous blockchains with different execution environments. Arjun also highlights the significance of data availability and zero-knowledge-proof technology in achieving scalability and solving fragmentation issues. He envisions a future where rollups become the dominant model for blockchains, offering flexibility and reducing the friction for developers to build decentralized applications.
Solana drops as FTX sells $2.6 billion at 38% discount
Solana prices drop 4% after FTX sells $2.6 billion worth of tokens at a 38% discount to Figure Markets and Pantera Capital.
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The Great Wealth Transfer Will Be a Boon for Crypto, Says Billionaire Mike Novogratz – Here’s Why
Galaxy Digital CEO Mike Novogratz believes that the so-called great wealth transfer could give a huge boost to Bitcoin (BTC) and other digital assets. In a new CNBC interview, the billionaire says that the millennials, who stand to inherit the largest transfer of wealth in history, are more inclined to invest in digital assets than […]
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Ripple taking ‘cheap shots’ at Tether, says Samson Mow
Ripple CEO Brad Garlinghouse stands accused of spreading fear, uncertainty and doubt about Tether.
Ripple CEO Brad Garlinghouse is receiving considerable criticism for his comments about Tether after saying, “The U.S. government is going after Tether, that is clear to me.”
Garlinghouse made the comments on the May 10 episode of the World Class podcast after discussing the potential for a future black swan event.
On X, Tether CEO Paolo Ardoino labeled Garlinghouse “An uninformed CEO,” while Samson Mow, CEO of hyperbitcoinization firm Jan3, told Garlinghouse to “leave the attacking to the XRP bots.”
Bitcoin RSI copies 2017 bull run as trader says $75K key for BTC price
Bitcoin could be preparing its “main breakout” if RSI traits follow the run-up to old $20,000 highs from late 2017.
Bitcoin (BTC) is quietly copying a key feature from the 2016 bull market which kicks in at $75,000.
In a post on X (formerly Twitter) on May 24, popular trader Jelle eyed what could become the next “main breakout” for BTC price action.
Bitcoin analysis often points to similarities between the current bull cycle and those gone by — notably the two most recent: 2016-17 and 2020-21.
Top Analyst Says Solana-Based Memecoin Primed To Surge Higher Again, Updates Outlook on Ethereum
A widely followed cryptocurrency analyst and trader is expressing bullish sentiment on one memecoin built on the Solana (SOL) blockchain while revealing his forecast for Ethereum (ETH) going forward. The analyst pseudonymously known as Flow Horse tells his 216,400 followers on the social media platform X that dogwifhat (WIF), whose logo features a dog wearing […]
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Paraguay Cracks Down on Illegal Bitcoin Mining: Over 550 Miners Seized
Paraguayan authorities have intensified their efforts to fight illegal bitcoin mining, using innovative techniques including artificial intelligence (AI) and its distribution systems to detect these activities. In less than a week, two new illegal bitcoin mining operations have been closed with over 550 miners seized, causing undetermined damages to the National Power Administration (ANDE). Paraguay […]
Kabosu, beloved Shiba Inu and face of iconic ‘Doge’ meme, passes away
Kabosu, the Shiba Inu behind the iconic “Doge” meme and Dogecoin, passed away at 17. Her legacy as a symbol of crypto culture and community spirit will continue to inspire future generations.
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Ethereum ETF approval sees minor decline in broader market, $400M in liquidations
The crypto market experienced significant volatility following the SEC’s approval of spot-based Ethereum ETFs, with analysts suggesting it was a “sell-the-news” event and traders suffering over $400 million in liquidations.
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Crypto Analyst Predicts 75%+ Rally for Top-10 Altcoin, Maps Path Forward for Bitcoin and One Ethereum Rival
A widely followed cryptocurrency analyst and trader is forecasting that one blue-chip altcoin could rally by double-digits. The analyst pseudonymously known as The Crypto Dog tells his 782,000 followers on the social media platform X that Dogecoin (DOGE) could hit a price of $0.30, about 78% above the current level if Bitcoin (BTC) records a […]
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Kabosu: The Iconic Shiba Inu Face of Dogecoin Passes Away
Kabosu, the Shiba Inu dog from Japan, known worldwide as the face of the “Doge” meme and Dogecoin, has passed away. Adopted by Atsuko Sato in 2008, Kabosu’s image became a viral sensation in 2013 when a photo of her was used in the creation of the “Doge” meme. This meme, characterized by phrases in […]SEC Approves Key Regulatory Filings for Spot Ether ETFs
The U.S. Securities and Exchange Commission (SEC) has approved pivotal 19b-4 filings for spot ether ETFs, marking a major regulatory milestone for the cryptocurrency sector. This approval indicates a newfound willingness to engage with ether ETF issuers. SEC Surprises Market With Approval of Key Filings for Spot Ether ETFs In a surprising decision, the SEC […]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.
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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.
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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.