Ether rises after SEC closes investigation into Consensys
The price of Ether (COIN:ETHUSD) rose by 1.7% at the time of
writing after the SEC concluded its investigation into Consensys,
the tech incubator behind the MetaMask wallet. The SEC informed
that it would not recommend enforcement action against the company,
according to letters sent on Tuesday. Consensys announced that the
investigation into Ethereum 2.0 was closed, boosting market
confidence.
$150,000 reward for identity of DJT token creator triggers
revelations
Arkham offered a $150,000 reward for the identity of the DJT
token creator. Martin Shkreli, the infamous pharmaceutical
executive, claimed to be the creator of the token, causing a stir
in the crypto community. Crypto investigator ZachXBT responded by
submitting information for the reward. Suspicious trading
activities and possible legal implications for Shkreli, due to the
terms of his parole, add complexity to the case, keeping the
community on edge.
Trump promises US leadership in Bitcoin and crypto in 2024 campaign
Donald Trump reaffirmed his support for Bitcoin, stating that
the US must lead in the crypto sector or risk falling behind. In
Wisconsin, he promised to end Joe Biden’s “war on crypto” and keep
regulators away from Bitcoin if elected. Trump is the first
president to accept Bitcoin payments and oppose central bank
digital currencies, aiming to secure the future of cryptocurrencies
in America.
Bitcoin stabilization signals potential rise, analyst says
After hitting a monthly low, the price of Bitcoin (COIN:BTCUSD)
showed signs of stability on Wednesday morning, with a slight
increase of 0.05%, reaching $65,169.44. Fernando Pereira, an
analyst at Bitget, noted that while the market remains bearish,
technical analysis of the one-hour and four-hour charts reveals
divergences indicating seller exhaustion. “Despite the bearish
sentiment, strong divergences on the 1-hour and 4-hour charts show
that sellers are tiring, and a bullish pullback is likely,
potentially bringing prices back to $67k,” explained Pereira.
Bitcoin ETFs see outflows totaling $152.4 million
Data from Farside shows that spot Bitcoin ETFs experienced
outflows of $152.4 million on June 18, marking the fourth
consecutive day of withdrawals. The current streak totals $714.4
million in outflows. Fidelity’s ETF (AMEX:FBTC) saw an outflow of
$83.1 million, while Grayscale’s ETF (AMEX:GBTC) recorded $62.3
million in outflows. Bitwise’s ETF (AMEX:BITB) had an outflow of
$7.0 million, while BlackRock’s ETF (NASDAQ:IBIT) continued its
long streak without outflows.
Bitwise revises Ether ETF filing with potential $100 million
investment
Bitwise updated its S-1 form for the Ethereum ETF, including an
initial $2.5 million investment by Bitwise Investment Manager, LLC.
The company also indicated a potential $100 million investment by
Pantera Capital Management after the commercial launch. The June 18
document clarifies that these indications of interest are not
purchase guarantees. Approval of this filing is the final step
before Ether ETFs can be publicly traded, a development expected
this summer according to SEC Chairman Gary Gensler.
LandBridge plans to attract crypto miners in IPO
LandBridge, a US oil and gas exploration company, announced
plans to attract crypto miners during its initial public offering
(IPO) launch on Monday. With the offering of 14.5 million shares
and a potential valuation of up to $1.6 billion, the company seeks
to diversify its land use in the Delaware sub-basin by exploring
revenue generation potential with infrastructure for crypto mining
and data centers.
Bernstein forecasts institutional adoption of Bitcoin, undervalued
crypto stocks
Brokerage Bernstein stated that Bitcoin (COIN:BTCUSD) and
crypto-related stocks are undervalued and poised for institutional
adoption. The firm predicts that Bitcoin ETFs will be approved by
major agencies and banking platforms by year-end, boosting
institutional demand. Bernstein estimates that BTC could reach
$200,000 by 2025 and $1 million by 2033, highlighting the potential
of miners like Riot Platforms (NASDAQ:RIOT), CleanSpark
(NASDAQ:CLSK), and companies like MicroStrategy (NASDAQ:MSTR) and
Robinhood Markets (NASDAQ:HOOD).
LayerZero announces eligibility checker for upcoming airdrop
The LayerZero Foundation launched an eligibility checker for its
upcoming airdrop, announced by LayerZero Labs CEO Bryan Pellegrino.
Users can now verify their eligibility and activity history on the
platform. The airdrop will distribute 23.8% of the total 1 billion
tokens, with 8.5% allocated on the first day. The foundation also
intensified anti-Sybil measures before the June 20, 2024 claim
date, ensuring a fair distribution.
dlcBTC integrates Chainlink to improve interoperability and
transparency
DLC.Link announced the integration of Chainlink (COIN:LINKUSD),
a leader in decentralized oracle networks, to enhance the
cross-chain capabilities of dlcBTC, allowing Bitcoin holders to
explore DeFi while retaining control of their assets. The
collaboration includes implementing Chainlink’s Proof of Reserve
(PoR), increasing transparency and ensuring Bitcoin reserves are
adequately backed. This partnership aims to facilitate secure
transfers and independently verify collateral almost in
real-time.
North Dakota revokes Binance.US license following federal
convictions
The North Dakota Department of Financial Institutions revoked
the money transmission license of Binance.US, making it the seventh
state to do so. The decision follows the federal conviction of
majority owner Changpeng Zhao for operating an unlicensed money
transmission business and anti-money laundering failures.
Binance.US has 30 days to contest the revocation, with North Dakota
joining other states that have already taken similar actions.
Nomura’s Laser Digital receives brokerage license in Abu Dhabi for
traditional and digital assets
Laser Digital, the crypto arm of Nomura (NYSE:NMR), obtained a
brokerage license from the Abu Dhabi Financial Services Regulatory
Authority. The license allows the company to offer brokerage and
asset management services for both digital and traditional assets.
This significant milestone, according to CEO Jez Mohideen,
reinforces Laser Digital’s commitment to compliance and regulation
in the ADGM, contributing to the UAE’s virtual asset ecosystem.
Commercial real estate tokenization will attract institutional
investors, says KPMG
Kunal Bhasin of KPMG Canada highlighted at the Toronto Collision
Conference that tokenization of commercial real estate could enable
institutional investors, like family offices, to acquire stakes in
high-value properties such as Toronto’s Eaton Center. Bhasin
predicts tokenization will become one of the primary institutional
uses in the crypto industry, allowing broader access to large real
estate assets previously limited to pension fund managers and large
investors.
Brickken joins European Blockchain Sandbox to advance regulated
tokenization
Brickken, a Web3 platform specializing in real-world asset (RWA)
tokenization, was selected for the European Blockchain Sandbox.
This program, coordinated by the European Commission, aims to
strengthen the legal certainty of blockchain technologies.
Alongside Coinbase (NASDAQ:COIN), Brickken will offer expertise in
tokenization, helping regulators better understand and adopt these
technologies, paving the way for broader and more efficient
acceptance in the financial and real estate sectors.
SEC reveals Montenegrin PM’s investment in Terraform Labs
Nearly a week after Terraform Labs settled with the SEC, court
documents from April revealed that Montenegro’s Prime Minister,
Milojko Spajic, was an early investor in the failed crypto project.
In 2018, Spajic invested $75,000 to purchase 750,000 LUNA tokens.
This revelation contrasts with his previous claims that the company
he worked for, Das Capital SG, had made the investment.
IMF questions need for CBDCs in survey with Middle Eastern and
Central Asian banks
An IMF survey with 19 central banks in the Middle East and
Central Asia suggests that central bank digital currencies (CBDCs)
may not be crucial for achieving policy goals. While they can
promote financial inclusion and reduce service costs, the survey
indicates that improving existing payment systems might be more
effective. The IMF warns of potential risks of CBDCs, including
competition with bank deposits and impacts on financial
stability.
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