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Coin Trading News: Essential source for crypto market news & analysis. Stay ahead with updates on Bitcoin and altcoins. Admin 📩 @nftmaxcoll"
🟣 Kraken CEO says Biden Administration is 'softening' toward crypto
Kraken CEO Dave Ripley described the Biden Administration as "softening" its stance toward crypto during an interview on CNBC Thursday. "When we came into this year, the executive branch has been, via the SEC, strongly negative to cryptocurrencies," Ripley said in the interview with CNBC "Squawk Box" host Joe Kernan. "But, there have been many supporters throughout the U.S. government. I visit D.C. periodically and met with many people in Congress, the Senate, and there are a number of supporters there.
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🪙 Hedge funds betting on SEC greenlighting spot Ethereum ETFs – VanEck
VanEck head of digital assets research Matthew Sigel believes financial institutions are gearing up for the imminent launch of spot Ethereum (ETH) exchange-traded funds (ETFs) in the US despite the funds pending regulatory approval. He added that data from K33 Research indicates a significant rise in inflows to Ether exchange-traded products (ETPs) outside the US markets, which suggests that large investors are preparing for the regulatory green light for the spot Ethereum ETFs.
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💰 Bitcoin dominance exceeds 56% as ETH/BTC ratio heads lower
As Bitcoin's dominance surges past 56%, the Ethereum to Bitcoin (ETH/BTC) ratio finds itself in an unfamiliar territory, trading at 0.052. This underperformance has persisted despite a brief spike following the approval of an ETF. Analyzing the cyclical movements of the ETH/BTC ratio since its low in June 2022 reveals some compelling patterns. Interestingly, in prior cycles, Ethereum consistently outperformed Bitcoin—often by over 200%.
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💰 Bitcoin Investment Products Saw Over $600M in Outflows Last Week: CoinShares
Bitcoin investment products saw a total of $621 million in outflows last week following mixed economic signals from the U.S, according to asset manager CoinShares. Across the broader digital asset ecosystem, investment products saw net $600 outflows of $600 million, entirely driven by BTC's losses. This was the largest figure since March 22. Grayscale's GBTC was the worst affected, as it often is, experiencing $273 million of outflows.
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🪙 Bloomberg Analyst Now Expects Spot Ethereum ETFs to Launch on July 2
Bloomberg’s senior ETF analyst has updated his spot ethereum exchange-traded fund (ETF) prediction. “We are moving up our over/under date for the launch of spot ether ETF to July 2nd,” he said. This revision follows light comments from the SEC Staff on issuers’ S-1 filings. The analyst believes there is a decent chance the SEC will approve the filings next week, aiming to finalize them before the holiday weekend.
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JUST IN: 🇺🇸 US Congressman Thomas Massie says he decided to introduce a bill to end the Federal Reserve after reading The 💰 Bitcoin Standard book 🙌
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🪙 Ether ETFs Should Be Fully Approved by September, Says SEC Chair Gensler
The final approvals for exchange-traded funds (ETFs) trading Ethereum's ether (ETH) should be finished this summer, U.S. Securities and Exchange Commission Chair Gary Gensler told senators in a budget hearing on Thursday. Gensler told a subcommittee of the Senate Appropriations Committee in a hearing justifying the market regulator's budget that the process is "working smoothly" after the initial approval of a group of ETFs.
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🦊 MetaMask launches pooled staking for Ethereum, excluding US and UK users
MetaMask developer Consensys has launched pooled staking for its popular web3 wallet, enabling users to stake any amount of ether to contribute to Ethereum network security and earn validator rewards. Before the launch, only users with at least 32 ETH (around $113,000), the minimum required by the Ethereum protocol, could stake natively in validators operated by the firm. MetaMask users can unstake their ether at any time, but the process is subject to waiting times that may vary depending on the current Ethereum validator exit queue.
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🇺🇸 US spot bitcoin ETFs see $65 million in net outflows, ending 19-day inflow streak
The 11 U.S. spot bitcoin exchange-traded funds saw a daily net outflow of $64.93 million on Monday, ending their longest inflow streak of 19 days. Grayscale's GBTC led the pack in outflows this week, totaling $40 million. Other funds also saw investor redemptions on Monday, with Invesco and Galaxy Digital's BTCO experiencing net outflows of $20 million, according to data from SosoValue.
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📊 Crypto investment products saw $2 billion in inflows last week amid rate cut anticipation: CoinShares
Global crypto investment products at asset managers such as Ark Invest, Bitwise, BlackRock, Fidelity, Grayscale, ProShares and 21Shares registered net inflows totaling $2 billion in the first week of June, a fifth-consecutive week of positive inflows, according to CoinShares' latest report. Last week’s net inflows matched those for the whole of May, bringing the five-week streak to a total of $4.3 billion and assets under management above the $1 billion level for the first time since March.
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🪙 Bloomberg analyst calls for FOIA request into SEC’s Ethereum ETF decision
Bloomberg ETF analyst James Seyffart called for freedom of information access (FOIA) requests regarding the SEC’s approval of spot Ethereum ETFs. In a June 5 KITCO interview, Seyffart said that public requests should search for “emails, calls, [and] anyone that had conversations with [SEC chair] Gary Gensler” to determine what happened during the SEC’s decision-making process. He said unused denial orders could exist due to the agency’s rapid change in stance.
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💰 Bitcoin company Lightspark CEO says moving money natively on the internet will change the world for the better.
"(Bitcoin) will unleash a pretty significant amount of GDP for everyone in the world."
- David Marcus
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💰 QCP Capital says bitcoin all-time high could follow upcoming jobless claims and CPI
Today’s U.S. jobless claims report and next week's CPI release could be the catalysts for new bitcoin all-time highs, according to analysts at crypto asset trading firm QCP Capital. “A lower than expected jobless claims report tonight and the CPI release next week might potentially be the trigger for a new all time high for BTC,” the analysts wrote Thursday — also noting substantial spot Bitcoin ETF inflows of $488.1 million on Wednesday and call buying.
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🇯🇵 Japanese crypto exchange DMM 💰 Bitcoin outlines funding plan to cover over $300 million in hack losses
DMM Bitcoin has outlined plans to cover losses from the theft of over $300 million in bitcoin from the Japanese crypto exchange last week. At the time of the attack, DMM Bitcoin said 4,502.9 BTC ($306 million) had been stolen in an “unauthorized outflow of funds.” It sought to reassure users, stating it would guarantee the full amount of their deposits by procuring an equivalent amount of bitcoin.
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💰 Bitfarms mining revenue drops 45% to $7 million in first full month after Bitcoin halving
Bitcoin miner Bitfarms released its latest monthly production data, which highlights the Bitcoin halving effect on the company’s bottom line and raises concerns about industry consolidation. In its monthly update, Bitfarms said it earned 156 BTC in May, a 42% drop from the previous month and down 66% year over year. Of that earned, it sold 136 BTC for total proceeds of $8.9 million (down from $16.1 million in April) as part of the company’s regular treasury management process.
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🇩🇪 German Government Agency Moves $425M Bitcoin, Some to Crypto Exchanges
A German government agency today moved $425 million in bitcoin (BTC) to another wallet address, Arkham data appears to show, sending some on to crypto exchange deposit wallets and returning some to the starting point. The wallet address, previously identified as belonging to the German Federal Criminal Police Office (BKA) by Arkham, moved 6,500 BTC to the address “bc1q0unygz3ddt8x0v33s6ztxkrnw0s0tl7zk4yxwd” and then back to itself.
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📊 Hashdex, Nasdaq file application for a dual Bitcoin, Ethereum ETF
Crypto asset management firm Hashdex has put forward a proposal for a spot exchange-traded fund (ETF) that would directly hold both Bitcoin and Ethereum. New York-based stock exchange Nasdaq disclosed the proposal on June 18 via a Form 19b-4 filing, which describes the firms’ intent to establish the Hashdex Nasdaq Crypto Index US ETF. The filing does not clarify the ratio of the holdings.
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JUST IN: 🏦 Coinbase has introduced pre-launch market trading for investors to gain exposure to altcoins before mainstream exchange debut.
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🏦 Coinbase Flags Crypto Talent Drain from US Amidst Regulatory Concerns
The report shows a 14-point decline in developer share over 5 years, though top companies are increasingly adopting on-chain solutions. In a report released earlier this week, Coinbase expressed concerns over the declining crypto talent in the US amidst the ongoing increase in general corporate interest. The largest US exchange highlighted the need for regulatory clarity around the crypto realm to keep the talent within the country.
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🟠 Binance 'relieved' as Nigeria drops tax charges against its executives
Crypto exchange Binance said it was “relieved” following news that Nigerian authorities had dropped tax charges against its executives Tigran Gambaryan and Nadeem Anjarwalla, with Binance now the sole defendant. Nigeria’s Federal Inland Revenue Service (FIRS) served and filed amended charges today, a Binance spokesperson confirmed, resulting in the tax charges being dropped. The pair still face money laundering charges in the country, alongside Binance.
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🇺🇸 CFTC Chair Rostin Behnam tells Senate agency can handle greater crypto responsibilities
CFTC chair Rostin Behnam said the agency is capable of handling additional crypto responsibilities during a hearing before the Senate Committee on Appropriations on June 13. Behnam denied the suggestion that the CFTC would be “biting off… more than it can chew” if it gained additional crypto authority. He asserted that crypto commodities fall under the agency’s responsibilities and described a gap in regulation that can be filled.
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💰 World's Largest Bank ICBC Sees Bitcoin as Digital Gold — Calls 🪙 Ethereum 'Digital Oil'
The Industrial and Commercial Bank of China (ICBC), the world’s largest bank by total assets, recently compared bitcoin to digital gold and labeled Ethereum “digital oil” in a report. The bank emphasized the roles of these cryptocurrencies in the digital economy and their contributions to technological advancements.
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🇮🇪 Crypto Exchange Crypto.com Secures Spot on Ireland's Virtual Assets Service Provider Register
Crypto.com received approval to register as a virtual asset service provider in Ireland, allowing the crypto exchange to operate in the European Union nation. The company was listed on the register as of June 7 under the name Foris DAX, the Central Bank of Ireland's website shows. Crypto.com will now be able to offer crypto-to-fiat exchanges and fiat wallets, the company said in a statement.
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🪙 Spot Ethereum ETF issuers still waiting on SEC for first round of S-1 comments: Sources
Prospective spot Ethereum ETF issuers are still waiting on the SEC to provide comments on their S-1 filings after they submitted first drafts on May 31, according to two sources. The issuers had been anticipating the SEC would provide comments on these drafts on June 7, according to one source based on conversations with the agency. Yet, at least two issuers have not received anything yet. One source said they now anticipate comments to come back this week.
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🇭🇰 Hong Kong may allow staking for spot Ethereum ETFs as soon as this year: Animoca cofounder
Hong Kong asset managers are working to include staking within their spot ether exchange-traded funds in the hope of getting the staking reward feature approved this year, Animoca Brands Chairman Yat Siu said. Siu told The Block in an interview that Hong Kong is “having discussions now for staking” and that the likelihood of staking being approved in Asia ahead of the U.S. is an “almost foregone conclusion.”
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🏦 Kraken explores pre-IPO funding round: Bloomberg
Kraken is considering doing another funding round as it potentially eyes an initial public offering, Bloomberg reported Thursday, citing people familiar with the matter. The crypto exchange could raise north of $100 million in a pre-IPO round, as investors turn toward the crypto market amid a rally in token prices, sources told Bloomberg. If Kraken chooses to raise more funds, the round could be completed by the end of the year, according to one source who spoke with the publication.
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🪙 Chainlink Tops Real-World Crypto Assets With the Most Development Again
Chainlink (LINK), the native token of the decentralized blockchain oracle network built on Ethereum, has emerged once more as the top real-world asset with the most development activity in the last 30 days. Real-world assets are cryptocurrencies that represent physical assets like properties and objects. Like other crypto assets, they run on smart contracts and blockchains and have been gaining popularity recently, with a market capitalization running into billions of dollars.
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🚀🌟 FlokiCat: Solana's Rising Star! 🌟🚀
🐾 $FC has skyrocketed to a $600K market cap in just 11 days! 📈 Celebrate this rapid success with us and join the revolution!
🔥 Burns Achieved: 1% at $200K & $500K market caps—next burn at $5M! 🔥
💎 Trusted Team: Diamond hands, full transparency, regular voice chats!
🌍 Community-Driven: Over 600 members and growing daily! United in action and vision! 🌍
🔗 Connect with FlokiCat:
⚫ Contract Address (CA): DAt9V3J3Cv959NRVmoENNfrqhTB68g2B6ovU6r9tajrG
⚫ Telegram (TG): @FlokiCatOnSol
⚫ Twitter (X): @FlokiCatSol
⚫ Website (Web): FlokiCat.org
🌟 Join us on our journey towards Valhalla – 1000x potential! 🌟
🔗 Quickjoin Telegram: /channel/+j_8fn7l0O6thMTli
🚀 Invest in something big. FlokiCat to the moon! 🌙
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🇭🇰 Hong Kong Reveals 17 Crypto Trading Platform Applicants as New Regulations Take Effect
Hong Kong’s Securities and Futures Commission (SFC) has published a list of two licensed crypto trading platforms and 17 pending applicants under the new regulations that went into effect on June 1. The financial regulator stresses that operating without a license is a criminal offense and commits to taking appropriate actions against any legal breaches.
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