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The US SEC extends the deadline for its decision about Ethereum ETF to May 30
2 months ago 1 min read

The US SEC extends the deadline for its decision about Ethereum ETF to May 30

The US Securities and Exchange Commission (SEC) has postponed its judgment on whether to approve the Hashdex Nasdaq Ethereum exchange-traded fund. This comes as the regulator decided to postponed the decision on May 30, 2024, and the fund will hold ether spot and futures contracts if approved. The Nasdaq Stock Exchange (NSE) filed an application with the SEC in September, and Toroso Investments administers and controls the fund. In addition, the SEC solicited public comment on the ETF in December and has postponed a decision on many occasions. Also, the SEC has postponed its decision on the ARK 21Shares Ethereum

MicroStrategy adds $623M in Bitcoin
2 months ago 1 min read

MicroStrategy now holds 1% of Bitcoin after adding $623M in BTC

MicroStrategy’s Bitcoin holdings have grown to 214,246 after the company purchased 9,245 BTC for $623 million. The company purchased Bitcoin at an average price of $67,382 apiece, with the acquisition being financed by convertible notes and additional cash. Following the US SEC’s approval of eleven Spot Bitcoin exchange-traded futures (ETFs) in 2024, the value of Bitcoin surged to over $73,500, setting a new record. Additionally, MicroStrategy now own over 214,000 Bitcoins with an average investment cost of $35,160 per Bitcoin. The dedication of MicroStrategy to Bitcoin is unwavering, even if the value of Bitcoin has dropped significantly this week. Meanwhile,

Solana (SOL) has surpassed Binance coin (BNB) in market capitalization, becoming the world's fourth-largest cryptocurrency.
2 months ago 1 min read

Solana (SOL) Surpasses Binance Coin (BNB) in market cap to become the 4th largest crypto

Solana (SOL) has surpassed Binance coin (BNB) in market capitalization, becoming the world’s fourth-largest cryptocurrency. This follows a remarkable streak of growth, with Solana surpassing Ethereum’s performance in the previous 24 hours and achieving a record DEX daily volume number. Despite the downturn in the digital asset market, Solana has managed to surpass BNB in market capitalization, making it the fourth-largest crypto globally. The price and market cap of Solana have both increased by over 12% and over 9.58% in the last 24 hours. Currently trading at $204.2. This SOL has not been seen since 2021. Recent gains have given

Grayscale intends to introduce a spot Ethereum ETF and has submitted an updated application to the US SEC.
2 months ago 1 min read

Grayscale pushes for the first spot in Ethereum ETF despite facing regulatory hurdles

Grayscale intends to introduce a spot Ethereum ETF and has submitted an updated application to the US Securities and Exchange Commission (SEC). The company contends that the triumph of Ethereum futures ETFs bolsters the argument for a direct Ethereum ETF. The objective of Grayscale’s proposal is to transform its Ethereum Trust into an Exchange-Traded Fund (ETF) that may be traded on NYSE Arca. The company then presents the SEC’s previous endorsement of Ethereum futures ETFs, the successful monitoring of the market by the Chicago Mercantile Exchange, and the study of correlations by Coinbase as proof of their ability to handle

The US Department of Justice (DOJ) has recommended a jail sentence of 40-50 years for Sam Bankman-Fried
2 months ago 1 min read

DOJ wants 40-50 years prison and $11B fine for FTX’s Sam Bankman-Fried for fraud

The US Department of Justice (DOJ) has recommended a jail sentence of 40-50 years for Sam Bankman-Fried, the former director of FTX. Additionally, they have suggested imposing penalties and forfeitures amounting to $11 billion. In November, SBF was convicted on seven counts of fraud and conspiracy. The prosecutors contend that his behaviors, which included misleading investors, disseminating forged papers, and financing political campaigns, justify a significant period of incarceration. The DOJ has successfully retrieved over $1 billion and is now focused on recovering monies that were used for political donations, marking it as the most significant breach of campaign financing

Bitcoin's price has experienced a significant correction
2 months ago 1 min read

Over $700 million of short and long positions get liquidated as Bitcoin fell below $67,000

Bitcoin’s price has experienced a significant correction, trading below $67,000, a 8.9% drop in the last 24 hours. This has led to massive liquidations, with over $700 million long positions being liquidated. According to Coinglass, over $530 million in longs and $140 million in short positions have been liquidated, with $220 million in BTC longs being liquidated. Most liquidations occurred on Binance and OKX exchanges, with $248 million and $236 million respectively. Ethereum, the second-largest crypto in market cap, also dropped below $3,700, down 10% in the last 24 hours. The total net inflow of Bitcoin spot ETFs on March

Binance to remove trading pairs that include TrueUSD (TUSD) of Justin Sun
2 months ago 1 min read

Binance to remove trading pairs that include TrueUSD (TUSD) of Justin Sun

Binance exchange has announced the removal of many trading pairings that include TrueUSD (TUSD), a stablecoin associated with Tron creator Justin Sun. The decision to delist certain pairings is part of Binance’s normal assessment process to protect user safety and preserve the integrity of the trading ecosystem. The delisting of spot trading pairs is mostly caused by insufficient liquidity and trading volume. Nevertheless, the crypto exchange has made it clear that the delisting will not impact the accessibility of tokens on Binance Spot. This means that users can still engage in spot trading using the base and quote assets of

Memecoins DOGE, PEPE, WIF maintain a bullish trend amid market positive momentum
2 months ago 1 min read

Memecoins DOGE, PEPE, WIF maintain a bullish trend amid market positive momentum

The crypto market is now seeing a significant increase, as Bitcoin has surpassed the $73,700 level and Ethereum is approaching the $4,100 benchmark. This milestone establishes the conditions for future price movements in light of the impending Bitcoin halving. Memecoins, renowned for their unpredictable but very profitable characteristics, have also been attracting considerable interest. Dogecoin (DOGE), the original memecoin, has seen over 6% surge in value during the last 24 hours, resulting in a market capitalization of $25 billion and trade volumes of $2 billion. After Elon Musk hinted about the integration of DOGE payments for Tesla, the currency saw

Solana (SOL) has seen a significant recovery after 2 years
2 months ago 1 min read

Solana (SOL) approaches $200 mark after surging 50% in a month

Solana (SOL) has seen a significant recovery after 2 years, with a over 10% increase in market capitalization to $75 billion. In addition, SOL has seen over 27% increase in trading volume to $7 billion. The crypto is now 33% away from its all-time high (ATH) of $260.06 two years ago. Following this, crypto experts suggest that Solana is on the cusp of crossing the $180 price threshold, making it the most trending coin in the last 24 hours. In a month, Solana has seen a 50% surge, cementing its position as one of the most promising investments in the

Grayscale's GBTC sees over $10B outflow, marking a record withdrawal
2 months ago 1 min read

Grayscale’s GBTC sees over $10B outflow, marking a record withdrawal

Grayscale’s Bitcoin Trust (GBTC) has just been removed $10.6 billion, resulting in the second-largest outflow in the ETF industry over the last 15 years. The change in investor preferences is seen in the Vanguard S&P 500 ETF (VOO) taking the lead with over $258 billion in inflows, followed by the iShares Core S&P 500 ETF (IVV) and the Vanguard Total Stock Market ETF (VTI). Plus, exchange-traded funds (ETFs) such as SPDR Gold Shares (GLD) and SPDR S&P MidCap 400 ETF Trust (MDY) are experiencing significant withdrawals of funds. Furthermore, investors are reallocating their investments from gold exchange-traded funds (ETFs) to

Bitcoin (BTC) reached a new high of $73,709
2 months ago 1 min read

Bitcoin surges above $73,700 mark, reaching another high

Bitcoin (BTC) reached a new high of over $73,700, marking its fourth high in six days, driven by increased investments in US-based exchange-traded funds (ETFs) associated with the digital currency. The total net inflow into BTC spot ETFs reached an unprecedented $1.06 billion on March 12. Blackrock’s IBIT product amassed a record $849 million inflow. This renewed enthusiasm for crypto has boosted other digital currencies, with Ethereum seeing over 3.5% increase to around $4,080 and a 75% rise since the start of the year. Moreover, the Ethereum blockchain ecosystem is set to become more accessible with a significant software update

Ethereum Dencun also releases nine Ethereum Improvement Proposals (EIPs)
2 months ago 1 min read

The Dencun upgrade, the biggest Ethereum update ever is now live on the Ethereum mainnet

The Dencun upgrade, the biggest Ethereum update, has been enabled on the Ethereum mainnet. The upgrade uses EIP-4844, also known as Proto-Danksharding, to build a dedicated data channel on Ethereum for layer-2 data, drastically lowering transaction costs on rollups. In addition, Dencun also releases nine Ethereum Improvement Proposals (EIPs), tying it for the most upgrades released in a single hard fork. Following Dencun, the Ethereum foundation team stated that most rollups and their users will notice advantages within hours to days, since the availability of data blobs on Ethereum should reduce transaction costs by 5-10x. This tangible advantage to customers

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