The Securities and Exchange Commission will probably deny applications for Ethereum spot exchange-traded funds on May 23.
The lack of meaningful interaction with prospective issuers, coupled with Ethereum’s ambiguous regulatory status, have made analysts pessimistic about the chances.
Not to mention the SEC’s recent investigation into the Ethereum Foundation.
That means spot Ethereum ETFs probably won’t see the light until the end of 2025, Bloomberg Intelligence ETF analyst Eric Balchunas told DL News.
https://www.dlnews.com/articles/markets/us-election-may-decide-fate-of-ethereum-spot-etfs/
Layer3 has introduced L3.
Initial Distribution Details:
Identifier: L3
When: Early summer
Total Supply: 300,000,000
Community Allocation: 51% of total supply
Detailed tokenomics will be released by the Layer3 Foundation in June 2024.
The initial airdrop will distribute 5% of the total $L3 supply to early adopters and CUBE minters.
https://x.com/layer3xyz/status/1788932313163932134
Jupiter has announced the next round of LFG.
The vote will be on 22nd May.
https://x.com/jupiterexchange/status/1788995317272395884
Neel Somani, the founder and CEO of Ethereum scaling company Eclipse, said that he would be stepping back from his role as a "public face" for the company in response to a recent slate of sexual misconduct allegations.
https://www.coindesk.com/business/2024/05/09/sexual-misconduct-allegations-lead-founder-of-ethereum-layer-2-chain-eclipse-to-step-back/
💧Current state of the market in our weekly overview
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Crypto Market Daily Review ☀️
The market is growing. Market cap is $2.35T. Bitcoin is trading at $62.8K
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Binance Holdings Ltd was fined C$6 million ($4.4 million) by Canada’s financial watchdog for breaching money-laundering protections.
The world’s largest crypto exchange received the financial penalty on Tuesday from Canada’s FINTRAC agency for failing to register as a foreign money services business and failing to report virtual currency transactions exceeding C$10,000, the regulatory body said on Thursday.
Binance ceased operations in Canada last year, saying the country’s guidance on stablecoins and investor limits made the market untenable.
https://www.bloomberg.com/news/articles/2024-05-09/binance-fined-4-4-million-by-canada-watchdog-for-rule-breaches
CoinList has announced the PEAQ Token Launch.
The purchase period begins on May 9, 2024 at 17:00 UTC and ends on May 16, at 17:00 UTC.
The launch has one public option:
▫️Supply: 252,000,000 tokens (6% of the total supply)
▫️Price: $0.079274
▫️Lockup & Release: 15% unlock at TGE, expected around mid-June 2024, with a 6 month linear release
▫️Initial Purchase Limits: $100.00 minimum, $2,500,000.00 maximum (USDT/USDC only)
https://coinlist.co/peaq
Binance has announced the 54th project on Binance Launchpool - Notcoin (NOT).
Users will be able to stake their BNB and FDUSD into separate pools to farm NOT tokens over three days, with farming starting from 2024-05-13 00:00 UTC.
Binance will then list NOT at 2024-05-16 12:00 UTC and open trading with NOT/BTC, NOT/USDT, NOT/BNB, NOT/FDUSD and NOT/TRY trading pairs.
https://www.binance.com/en/support/announcement/introducing-notcoin-not-on-binance-launchpool-farm-not-by-staking-bnb-and-fdusd-b78921ecf7c94e50973850fc47f497b9
BNB Chain has announced 4 hardforks on opBNB testnet.
Gas cost on opBNB will be 10x lower.
Scheduled: between 6:00 and 6:30 UTC, May 15.
https://twitter.com/BNBCHAIN/status/1788489630750322975
The Masa Team announces that the MASA token airdrop claim is now live.
The initial airdrop distribution will take place on May 11th.
Participants will have 3 months to claim their airdrop.
Eligible participants will be able to redeem 20% of their total airdrop allocation on the initial distribution date of May 11th. The remaining 80% of tokens will be locked up for a period of your choosing: 3, 6, 9, or 12 months to earn generous bonuses, as follows:
▫️3 months: 0% bonus
▫️6 months: 10% bonus
▫️9 months: 22% bonus
▫️12 months: 44% bonus
Once your chosen MASA token lock-up is complete, the full 80% of your tokens will unlock at that time.
The MASA token airdrop will be a total of 59,000,000 MASA tokens eligible to be claimed.
Claim: https://app.masa.ai/airdrop
https://medium.com/masa-finance/masa-token-airdrop-claim-now-live-12bf48c6358e
Puffer Finance mainnet is live.
https://twitter.com/puffer_finance/status/1788400770683154792
Friend.tech: “In the coming days, we'll begin routing 2/3 of protocol fees from Club Key swaps back to app users.
0.5% of each swap's value will go to the Club President and swappers will also pay 0.5% less in total.”
https://twitter.com/friendtech/status/1788364634036289712
Imaginary Ones has released BUBBLE tokenomics.
BUBBLE is an ERC-20 utility token that fuels the Imaginary World ecosystem.
Total Supply: 10,000,000,000 BUBBLE
Community Incentives: 30%
Ecosystem: 23%
Strategic Investors: 18.5%
Operations: 11.5%
Contributors: 10%
Liquidity: 7%
https://x.com/imaginary_ones/status/1788208979488784474
https://bubble.imaginaryones.com/litepaper
Linea: „Thanks to the community, we detected Sybil activity which managed to bypass issuers and attain attestations as though they are individual people. We strive to make our Voyage human-centric, so this caused us to pause distributing LXP. We're working with PoH issuers and Verax proactively to revoke attestations for addresses that are Sybils.”
https://twitter.com/LineaBuild/status/1789318471680958952
Billionaire Mark Cuban says SEC Chair Gary Gensler has not protected a single investor against crypto fraud.
"All he has done is make it nearly impossible for legitimate crypto companies to operate."
https://x.com/watcherguru/status/1789048911182680231
ARK Invest and 21 Shares cut staking component from latest spot Ethereum ETF filing.
https://www.theblock.co/post/293891/ark-invest-and-21-shares-cut-staking-component-from-latest-spot-ethereum-etf-filing
EIGEN staking is now live on Renzo.
https://twitter.com/RenzoProtocol/status/1788980841344819480
Azuro is joining forces with Chiliz, the blockchain in sports and entertainment, to promote the growth of onchain sport prediction markets.
https://x.com/azuroprotocol/status/1788576050990960834
Binance CEO Richard Teng claims Nigerian officials sought $150m from Binance to settle its dispute with the state.
https://www.dlnews.com/articles/people-culture/nigeria-denies-binance-ceo-richard-teng-bribery-claim/
BlockFi will shut down this month, with Coinbase acting as a partner to support its customers' cryptocurrency withdrawals.
Crypto-eligible clients who did not withdraw their digital assets distribution from the BlockFi platform by the deadline of April 28, 2024 at 23:59 UTC (or did not complete an identity verification request by the deadline of May 10, 2024 at 11:59 UTC) from the current round of estate distributions will, rather than such assets being liquidated to cash, have funds made available in kind and can withdraw if they create or have an open and approved Coinbase account.
Additionally, the BlockFi web platform will shut down during May 2024. The specific date remains under consideration given ongoing work and initial distribution, but after this date clients will no longer be able to access the BlockFi platform. The specific date will be separately communicated over the next few weeks.
https://blockfi.com/blockfi-coinbase-distribution-partnership/
XION is bringing Chain Abstraction to SAGA's ecosystem of chainlets.
https://x.com/burnt_xion/status/1788579205908701352
Sophon has raised over $60 million.
Entirety goes into ecosystem fund.
The node sale will close on 13th May 2024.
The network is scheduled to launch in Q3 2024.
https://twitter.com/sophon/status/1788606340278968562
OKX has introduced Notcoin (NOT) on OKX Jumpstart.
▫️Mining period: 6:00 UTC on May 13, 2024 - 6:00 UTC on May 16, 2024
▫️Listing: on May 16 on OKX and Bybit
▫️Token staked: TON
▫️Amount of mineable tokens in NOT staking pool: 1,283,990,271 NOT
▫️Minimum staking per person: None
▫️Maximum staking per person for TON: 4,000 TON
▫️Staking period: Stake and unstake at any time
▫️Total supply: 102,719,221,714
Official website: https://notco.in/
Twitter: https://twitter.com/thenotcoin
https://www.okx.com/help/introducing-not-notcoin-on-okx-jumpstart
Crypto Market Daily Review ☀️
The market is neutral. Market cap is $2.31T. Bitcoin is trading at $61.5K
dropstab | icodrops | twitter | telegram
Grayscale will focus energies on spot Ethereum products, CEO says.
https://www.dlnews.com/articles/regulation/grayscale-to-focus-on-spot-ethereum-products-says-ceo/
Overlay’s airdrop campaign TUNA is completely free to participate as it’s on Arbitrum Sepolia testnet.
Participants will share 1.5% of the total supply, while details will be shared after TGE.
https://x.com/overlayprotocol/status/1788219722653221033
Arbelos Markets, a crypto principal trading firm founded by digital asset derivatives veterans Joshua Lim and Shiliang Tang, raised $28 million in an investment round.
The fundraising consisted of seed equity and debt financing led by crypto venture capital firm Dragonfly Capital. A wide range of investors also participated in the round: investment firms Room40 Ventures, Selini Capital and Breed VC, corporate partners FalconX, Circle Ventures, Paxos, P2 Ventures (previously Polygon Ventures), Deribit, Chorus One, StarkWare and Immutable, and angel investors at Aevo, Cega, Talos, Amberdata, and Framework.
https://www.coindesk.com/business/2024/05/08/crypto-principal-trader-arbelos-markets-raises-28m-led-by-dragonfly-capital/