Donald Trump’s Crypto Holdings Top $10 Million, Arkham Says
Grayscale’s Ethereum ETF could bleed $110M daily in first month: Kaiko
If Grayscale’s slated spot Ether ETF follows the same path as its Bitcoin one, there could be some short-term pressure on the price of ETH.
Grayscale’s yet-to-launch spot Ether (ETH) exchange-traded fund (ETF) could bleed an average of $110 million per day if it follows a similar pattern to its Grayscale Bitcoin Trust in the first month.
The Grayscale Bitcoin Trust (GBTC) converted from a closed-end fund to an ETF on Jan. 11, which saw 23% of its assets under management at launch flow out in the first month — totaling $6.5 billion, Kaiko analysts wrote in a May 27 report.
ETHE has an AUM of $11 billion. If it has “a similar magnitude of outflows” as GBTC, “this would amount to $110 million of average daily outflows or 30% of ETH’s average daily volume on Coinbase,” according to Kaiko.
‘Yield-bearing stables’ are not money or stablecoins: Agora’s van Eck
Yield-bearing stablecoins are far more likely to be classed as security products in many countries and would restrict customer reach, argues the son of Jan van Eck.
Stablecoin issuers that offer a yield-bearing element to give holders passive income are missing the point of a stablecoin’s core mission, argues Nick van Eck, CEO of stablecoin issuer firm Agora.
Instead, these firms should focus on utility, liquidity and means of transaction in a way that reaches as many individuals and businesses as possible, the son of investment management maestro Jan van Eck explained in a May 27 Medium post.
Yield-bearing stablecoins have offered a new dimension for decentralized finance users looking to earn interest, but van Eck says such products will likely be classed as security products in many countries and, therefore, restrict customer reach.
Economist Henrik Zeberg Says Bitcoin Days Away From Next Big Move – Here’s His Price Target
Macro strategist Henrik Zeberg is predicting Bitcoin (BTC) will make a big move to the upside any day now. In a new interview on the Bloor Street Capital YouTube channel, Zeberg says Bitcoin could soar more than 64% from its current value by the third quarter of the year. “In January I said $110,000 to […]
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Analyst Predicts ‘Prolonged and Substantial Gold Bull Market’ — Eyes $7,000 Price
JPMorgan Doubts SEC Will Approve Solana or Other Crypto ETFs
Solana validators vote to keep full control of priority fees
Solana validators vote for a full allocation of priority fees to themselves, ending the 50/50 burn split and aiming to enhance network security.
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Argentine Officials Met With Salvadoran Regulators to Discuss Bitcoin Adoption and Regulation
Bitcoin dips 2% as Mt. Gox wallets move over $7B to unknown wallet
Billions in Bitcoin reportedly belonging to collapsed crypto exchange Mt. Gox has moved to an unknown wallet.
Bitcoin (BTC) dipped 2% on May 28 after wallets labeled as belonging to the collapsed crypto exchange Mt. Gox moved 107,547 BTC worth nearly $7.3 billion to an unknown wallet — with more transactions coming in by the hour.
The move is ahead of the defunct crypto exchange’s plan to return BTC holdings to creditors before October.
Blockchain tracking X account Whale Alert posted the moves in May 28 X posts, noting six on-chain transactions of between 3,999 BTC and 32,499 BTC within hours.
‘Hacker’ identified in celebrity memecoin scams, says crypto sleuth Roxo
A person associated with Caitlyn Jenner’s JENNER coin launch rugged five other prominent figures, but not her, according to Roxo.
A member of the X crypto community who identifies as Roxo has suggested the identity of the “hacker” who compromised the X accounts of celebrity Caitlyn Jenner, rappers Soul Ja Boy and Rich The Kid, and adult-content models Kazumi and Ivana Knöll. Roxo, who appears to be an 18-year-old located in Miami with 17,100 followers, posted his solution to a mysterious wave of suspicious tweets posted over the weekend of May 25-26.
“She [Jenner] was never hacked, Her team was socially engineered by a guy named Sahil,” Roxo tweeted. Instead, he suggested, the other celebrities were rugged. Roxo reproduced a Telegram post of Sahil Arora and various pictures from his account, including one of him posing with Rich The Kid. Roxo also pointed out that the coins launched on pump.fun on behalf of Soul Ja Boy, Rich The Kid, Kazumi, and Knöll all connected to Arora’s wallet address.
Related: Memecoin launcher pump.fun claims ex-employee behind $1.9M exploit
GCR’s Hack Possibly Tied to Solana’s CAT Coin Team, Onchain Sleuth Zachxbt Reports
Mt. Gox moves $840 million in Bitcoin to new wallet
According to Arkham Intelligence, Mt. Gox has moved 12,240 BTC to a new wallet. The exchange plans to repay creditors before October 31.
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Analyst Jason Pizzino Names Four Strong Altcoins in the Market Including Solana (SOL) and Pepe (PEPE)
Crypto analyst Jason Pizzino says he’s looking at four altcoins flashing signs of strength, which include Solana (SOL) and the memecoin Pepe (PEPE). In a new strategy session, Pizzino tells his 327,000 YouTube subscribers that alongside SOL and PEPE, derivatives platform Pendle (PENDLE) and decentralized GPU rendering blockchain Render (RNDR) have strong-looking market structures. According […]
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Shima Capital bets on WOJAK, TRUMP, and three other meme coins
Shima Capital’s recent foray into meme coin investments yields mixed results, with a notable gain in WOJAK amidst other losses.
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US Regulator Says Bank Will Pay $1,500,000 Settlement for Allegedly Overcharging and Deceiving Hundreds of Customers in Veterans’ Loan Scandal
A US regulator says it’s reached a $1.5 million settlement with a bank that caused “significant harm” to its customers. The Federal Deposit Insurance Corporation (FDIC) says Bank of England, based in England, Arkansas, deceived veterans into overpaying for services while not delivering the products they were entitled to. The regulator says one of the bank’s […]
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Uniswap Foundation Reveals Unaudited Summary Financials As Vote for New Fee Mechanism Approaches
The foundation behind crypto’s leading decentralized exchange (DEX) is disclosing its crypto assets as a governance vote for a new fee mechanism approaches. In a new blog post, the Uniswap Foundation has shared its 2024 first-quarter financials in a show of transparency with the Uniswap (UNI) token-holding community. “On March 31, 2024 we had $41.41 million […]
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Solana (SOL) price encounters resistance near $190 — Here is why
SOL price rallied 5% today, but on-chain data raises doubts about whether Solana can overcome the barrier at $190.
Solana’s native token, SOL (SOL), experienced a 5% increase on May 27, trading up from $161 on May 26 to $171. This rise fueled investors’ hopes for continued growth, especially since SOL had reached $188.90 on May 21, just days earlier. A significant factor in SOL’s upward movement is a proposal designed to increase yields for validators rather than burning tokens, though network activity remains unchanged.
On May 27, Solana’s validators approved the SIMD-0096 proposal, which eliminates the 50% burn rate on priority transactions and sets it to 0%. Consequently, from epoch 621 onward, all transaction fees will be allocated to block producers. This shift aims to ensure validators are motivated to prioritize network security and efficiency over engaging in arbitrage strategies that involve transaction reordering or exclusion.
Maximal extractable value (MEV) refers to profits block producers make by determining the order of transaction processing on the blockchain. With each block containing a limited number of transactions, validators can choose which pending transactions to include, often to the detriment of regular users who might face poorer execution prices in decentralized finance (DeFi) applications.
Blockchain dev Sphere introduces bank-to-wallet Telegram extension
Sphere Labs, a blockchain developer focused on bringing stablecoins as a service to businesses, has announced a new bank-to-wallet Telegram extension.
Sphere Labs, a blockchain developer focused on facilitating stablecoin services for business clients, has announced a new fiat on-ramp and off-ramp designed to work within Telegram.
The bank-to-wallet extension will allow Telegram users to shift bank funds directly into their wallets and vice versa within the Telegram app for an advertised fee of 0.1% per transaction for early users.
The service will open to early users the week of May 27, and a full launch is expected later this year.
YouTube co-founder backs memecoin based on ‘first cat’ on platform
A cat video filmed 20 years ago by former YouTube chief technology officer Steve Chen is now the basis for a memecoin with a market capitalization of more than $20 million.
Steve Chen, co-founder and former chief technology officer of video-sharing platform YouTube, has been supporting a memecoin project based on one of the first cat videos uploaded to the website in 2005.
Speaking to Cointelegraph from Taiwan on May 27, Chen, who has an estimated net worth of more than $1 billion, said he had been devoting 80 to 100 hours a week to backing the memecoin Pajamas (PAJAMAS). Based on Chen’s “first-ever cat video uploaded to YouTube” in 2005, the project is available on the Solana blockchain.
“This is my cat, Pajamas, playing and dancing to the tune of Nick Drake,” said the video description, uploaded to YouTube on May 22, 2005.
Bitcoin stuck in accumulation range, but a breakout is near
Trader Rekt Capital forecasts an imminent Bitcoin breakout from its current $60K-$70K accumulation phase, with altcoins also set to rally.
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Feds Arrest Owner of $100,000,000 Dark Web Marketplace Using Crypto To Process Drug Transactions
US authorities have announced the arrest of the alleged mastermind of a notorious dark web marketplace that allowed users to buy and sell illegal drugs anonymously. In a statement, the U.S. Department of Justice (DOJ) says that 23-year-old Rui-siang Lin, from Taiwan, was arrested at John F. Kennedy Airport on May 18th and subsequently charged […]
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Bitcoin Ready To Outperform Gold by at Least Double for Rest of Market Cycle: Glassnode Founders
The founders of crypto analytics platform Glassnode are predicting that Bitcoin (BTC) will vastly outperform gold for the remainder of the current bull cycle. The co-founders of Glassnode, who go by the handle Negentropic on the social media platform X, tell their 63,000 followers that the BTC/gold ratio could more than double in the coming […]
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Ethereum price in ‘bull market’ after spot ETH ETF approvals greenlight rally toward $4K
With the spot ETH ETFs approved, traders are confident that Ethereum price is ready to rally well above $4,000.
Traders continue to push Ether (ETH) price closer to $4,000 on May 27, with the altcoin registering a 3.5% gain for the day.
Data from Cointelegraph Markets Pro and TradingView shows strong performance from Ether which rose from a low of $3,048 on May 20, climbing 27% to reach a 10-week high of $3,964 on May 27.
Ether’s performance over the last seven days has largely been driven by the markets’ anticipation that the spot Ethereum exchange-traded funds (ETFs) in the United States would be approved. Even though ETH displayed a lackluster performance after the approval, the move toward $4,000 is viewed as significant.
Uniswap Foundation discloses $41M balance sheet ahead of crucial fee vote
Uniswap Foundation reveals $41M balance sheet ahead of crucial fee distribution vote, as SEC enforcement threats loom over the protocol’s UNI and LP tokens.
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Spot Ether ETFs are now officially legal in the US: Law Decoded
Spot Ether ETFs might be weeks or months away from debuting on exchanges, as the ETF filers have yet to receive their S-1 SEC registration.
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 country.
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 (ETH) ETFs to be listed and traded on their respective exchanges.
Unlike the spot Bitcoin (BTC) ETFs approved via voting by a five-member committee including SEC Chair Gary Gensler, spot Ether ETFs were approved by the SEC’s Trading and Markets Division.
Former SEC Chair Jay Clayton Says Approval and Trading of Ethereum ETFs Now ‘Inevitable’
Jay Clayton, the former Chair of the U.S. Securities and Exchange Commission (SEC), says it’s inevitable that a spot Ethereum (ETH) exchange-traded fund (ETF) will go live on American stock exchanges. In a new interview on CNBC television, Clayton notes that the SEC has already approved the product itself, and will likely proceed to approving […]
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Injective (INJ), Polygon (MATIC) and One Additional Ethereum-Based Altcoin Flashing Bullish Signals: Analyst
One widely followed crypto analyst thinks three leading altcoins are soon to enter bullish phases. Crypto trader Ali Martinez tells his 62,900 followers on the social media platform X that the decentralized supply chain management platform VeChain (VET) is on the verge of lift-off after a successful retest of a parallel channel. “Like in the previous bull […]
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Bitcoin Breaks $70K Barrier, Leading to $27.75M in Liquidations
Bernstein Predicts Crypto Arms Race Among Asset Managers
Donald Trump’s Crypto Holdings Exceed $10,000,000 As TRUMP Memecoin Cycle Ensues: Arkham
Presidential candidate Donald Trump’s crypto holdings passed the $10 million mark early this week, data from blockchain “de-anonymizing” platform Arkham. The former president’s gains were largely driven by the price appreciation of MAGA (TRUMP), a memecoin inspired by Trump himself. At time of publishing, Trump holds $7.1 million worth of TRUMP, $1.83 million worth of […]
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