14 Jun 24
 14 Jun 24
 14 Jun 24

EddieJayonCrypto

 24 May 24

tl;dr

• The SEC approved eight applications for spot Ethereum ETFs, allowing Ethereum trading on Wall Street, and VanEck celebrated this approval with an ad, marking a significant regulatory shift and potentially complicating the regulatory landscape for other cryptocurrencies.• The House passed the FIT21...

• The SEC approved eight applications for spot Ethereum ETFs, allowing Ethereum trading on Wall Street, and VanEck celebrated this approval with an ad, marking a significant regulatory shift and potentially complicating the regulatory landscape for other cryptocurrencies.
• The House passed the FIT21 bill to define cryptocurrencies as commodities under the CFTC, while SEC Chair Gensler criticized the bill, warning of potential risks to investors and capital markets.
• Coinbase reopened XRP trading in New York amid the ongoing Ripple-SEC legal battle, signaling a potential shift in the lawsuit's outcome, and Ripple filed a trademark for "RLUSD," indicating expansion into the stablecoin market. Coinbase Derivatives launched retail-sized futures contracts for oil and gold, expanding trading opportunities.
• President Biden faces a decision on vetoing H.J. Res 109, which seeks to repeal SEC's SAB 121 affecting crypto custodial services, reflecting broader regulatory debates.
• Coinbase launched Avalanche (AVAX) staking with a 4.47% APY, enhancing its staking offerings amid regulatory challenges.
• Metaplanet's shares surged 158% due to its Bitcoin accumulation strategy, leading to a trading halt.
• Wells Fargo faces a class-action lawsuit for allegedly seizing funds from a customer's account without authorization.
• Bybit addressed insolvency rumors, emphasizing the exchange's stability and the fragility of trust in the crypto sector.
• Binance announced a new strategy to prioritize high-quality crypto projects, aiming to create a more sustainable market.
• Nexo faced backlash after a sudden fee hike, leading to a loss of user trust.
• Standard Chartered forecasted Ethereum to reach $8,000 by year-end, anticipating significant inflows post-ETF approval, with BlackRock and other major firms leading significant inflows into Bitcoin ETFs, indicating strong institutional interest.
• Farcaster secured $150M in Series A funding, becoming the latest crypto unicorn.
• Uniswap Labs launched a new Ethereum token standard ERC-7683, simplifying cross-chain transactions, and defended DeFi innovation against the SEC's enforcement action.
• Stacks announced a new Bitcoin restaking protocol and delayed its Nakamoto upgrade for stability.
• The "Tech Against Scams" coalition aims to combat online fraud by collaborating with major crypto exchanges and companies.
• Prometheum's alignment with the SEC for Ethereum custody services sparked industry controversy.
• Grayscale updated its Ethereum ETF application, removing the staking clause ahead of expected approval.
• The US House passed a bill to limit the Federal Reserve's control over launching a Central Bank Digital Currency (CBDC).
• A Supreme Court ruling against Coinbase in a Dogecoin lawsuit marks the first mention of "Dogecoin" in a U.S. Supreme Court opinion.
• ConsenSys CEO Joe Lubin revealed plans for potential public listing and strategic moves during an interview.
• The London Stock Exchange will list crypto ETPs for the first time, marking a significant development in the crypto market.
• OKX Ventures invested in Bitlayer to enhance Bitcoin network's transaction capability.
• Gala Games' GALA token experienced a sharp decline due to a $240M security breach but later stabilized.

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