NewsBriefs - Tether co-founder discusses new crypto ETFs and Wall Street's influence

Jun 16, 1:31 PM Decrypt

Tether co-founder discusses new crypto ETFs and Wall Street's influence

Tether and WAX co-founder William Quigle predicts a continued rise in crypto ETFs following the successful launch of spot Bitcoin and Ethereum funds in the US. Quigley highlights Wall Street's profit-driven strategy as a catalyst for the development of additional crypto ETFs, despite potential risks associated with mainstream financial market integration. He expects traditional finance to keep pushing these products until a market pullback prompts a reassessment.

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• Jun 26, 5:41 AM The Block

  VanEck aims to attract Ethereum ETF investors by waiving initial fees

  VanEck plans to waive the initial fees for its upcoming spot Ethereum ETF to become a competitive leader in crypto ETF fees. The firm's strategy includes capturing high decentralized finance volumes to offset early financial losses. This incentive aims to draw more investors to consider Ethereum’s role in their portfolios, following recent US regulatory advancements towards trading approvals.

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• Jun 25, 11:19 PM Cryptoslate

  SEC chair Gensler highlights compliance issues and centralization in the crypto sector

  Gary Gensler, SEC chair, criticized the crypto sector for significant non-compliance with US laws and centralization, contradicting the ideal of decentralization. He mentioned ongoing issues such as trading violations and investor protection concerns, underscoring that many crypto tokens are effectively securities. Gensler’s assertions emphasize the legal actions taken by SEC against various crypto entities to protect public interests.

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• Jun 25, 8:20 PM Cointelegraph

  Ava Labs introduces blockchain IP management for K-pop artists

  Ava Labs is utilizing its Avalanche blockchain technology to provide intellectual property management for K-pop artists in South Korea. This innovation aims to improve transparency and efficiency in protecting artists' rights against underpayment and unauthorized use, amidst the music industry's evolution with technologies like artificial intelligence. The adoption of blockchain for digital rights management reflects a broader trend where recording artists can better control their creations, enhancing autonomy and revenue protection in a market projected to be worth $20 billion by 2031.

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• Jun 25, 6:10 PM Decrypt

  VanEck prepares for imminent US Ethereum ETF launch

  VanEck has filed an 8-A form for their Ethereum ETF, indicating a potential launch could happen within a week as similar timing was observed with their earlier Bitcoin ETF launch. With Ethereum ETFs approved to list on national exchanges, the launch is expected soon, with SEC chairman Gary Gensler noting approvals anticipated "over the course of this summer." Companies are actively promoting Ethereum’s potential, suggesting strong market readiness for these funds.

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• Jun 25, 3:24 PM Blockworks

  Ethereum experiences longest inflationary phase post-Merge due to low base fees and increased layer-2 activity

  Ethereum has entered its longest period of inflation since the Merge, lasting nearly 72 days and adding approximately 50,000 ETH to its supply. This inflationary trend is attributed to significantly lowered base fees following the Dencun update and a surge in layer-2 activity. Although the base fee reduction enhances user affordability and network efficiency, it simultaneously diminishes the deflationary mechanisms put in place post-Merge, resulting in a net increase in the total ETH supply.

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• Jun 25, 2:54 PM The Block

  Core Scientific expands partnership with CoreWeave for 70 MW infrastructure boost

  Core Scientific will enhance its infrastructure to provide an additional 70 MW to CoreWeave for hosting NVIDIA GPUs aimed at high-performance computing. This expansion is part of a larger 12-year, 200 MW agreement designed to bolster CoreWeave's computing capabilities, with all capital investment funded by CoreWeave. The modification aligns with Core Scientific's strategic direction to develop application-specific data centers that support advanced, high-density chip technologies.

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• Jun 25, 6:00 AM Phantom

  Phantom wallet from Solana adds Bitcoin support

  Solana's Phantom wallet has expanded its compatibility by adding support for Bitcoin, with a notable inaugural Ordinal mint event scheduled in the Gamma market. The event will start on June 27 and end on July 1, during which users will only be required to pay the Bitcoin network fees. Phantom recommends users maintain $10-20 in BTC in their Native Segwit addresses to cover these fees.

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• Jun 25, 6:58 AM Ronin Network

  Ronin launches zkEVM testnet for Layer 2 solutions

  Ronin has announced the launch of its zkEVM testnet, marking a significant development in its Layer 2 offerings. Users can now access the testnet block explorer, query RPC endpoints, and obtain testnet RON tokens and developer documentation. This launch aims to enhance the platform's efficiency and robustness, underscoring Ronin’s commitment to innovation in the blockchain space.

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• Jun 24, 8:40 PM Cointelegraph

  Jump Crypto president resigns amid CFTC probe and company turmoil

  Kanav Kariya, President of Jump Crypto, has resigned amidst a CFTC investigation and a series of challenges faced by the firm, including a significant hack and legal issues related to the Terra collapse. Kariya plans to focus on personal development post-resignation. Jump Crypto, known for its financial stability, has confronted controversies ranging from a $321 million hacking incident to allegations of market manipulation linked to the Terra ecosystem.

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• Jun 24, 8:10 PM The Defiant

  Certik faces backlash for minimal audit efforts and holding Kraken funds hostage

  Certik, a prominent crypto security firm, is under scrutiny for its audit methods and recent controversies, including holding $3 million from Kraken hostage. The company, known for auditing numerous significant projects, has been criticized for inadequate review processes and its role in substantial exploit losses, topping $1.22 billion. Recent client experiences and expert comments suggest systemic issues with Certik's approach to crypto project audits, impacting its reputation and reliability in the blockchain community.

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• Jun 24, 6:09 PM Crypto Briefing

  DEX Screener introduces Moonshot, a Solana-based meme coin platform

  DEX Screener has launched Moonshot, a new platform on Solana for launching meme coins with a streamlined process ensuring contract auditing and limited insider activity. The platform, akin to Pump.fun, allows users to launch tokens with a supply of 1 billion, locking liquidity post a 500 SOL investment. Since its inception, Moonshot has facilitated the creation of 333 tokens, with 27 achieving liquidity on Raydium, though most have witnessed underwhelming market performance.

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• Jun 24, 11:07 AM Crypto Briefing

  Mt. Gox announces start of $9 billion Bitcoin repayment in July 2024

  Mt. Gox, previously the largest Bitcoin exchange globally, will begin repaying its creditors in July 2024, ending a decade-long wait. The exchange is set to distribute over $9.4 billion in Bitcoin and Bitcoin Cash to approximately 127,000 creditors. This decision comes after a series of hacks led to the loss of 850,000 BTC, significantly affecting the crypto market. Repayments will be executed based on the readiness of individual crypto exchanges, with potential further delays anticipated.

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• Jun 24, 3:30 AM Crypto Briefing

  Ark Invest CEO Cathie Wood endorses Trump, highlights Bitcoin strategy

  Cathie Wood, CEO of Ark Invest, announced her support for Donald Trump, citing economic benefits for the US. At a recent event, Wood praised Trump's past economic policies and expressed optimism about institutional investment in Bitcoin, including Ark Invest's launch of a Bitcoin ETF earlier this year. Wood's stance aligns with her bullish view on Bitcoin, reinforced by Trump's supportive statements about the crypto sector.

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• Jun 23, 6:18 PM The Block

  Aave community votes to deploy on ZKsync network with full support

  The Aave community has unanimously approved an early proposal to expand their lending protocol onto the Ethereum Layer 2 network, ZKsync, in partnership with BGDLabs and Catapulta. This strategic move, facilitated by an Aave Formal Request for Comments (AFRC), aims to enhance Aave by offering faster, cheaper transactions while upholding the security and decentralization standards of the Ethereum mainnet. The deployment will potentially expand the market for Aave's GHO stablecoin, reduce transaction fees, and improve scalability and interoperability with other networks. Aave also plans to redistribute an 8.3 million ZK token airdrop, valued at approximately $1.4 million, entirely to Aave users.

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• Jun 21, 10:28 PM Cryptoslate

  Consensys persists in legal battle against SEC over crypto clarity

  Consensys continues its lawsuit against the SEC to challenge the regulatory clarity of Ethereum and its features, despite the SEC's recent dismissal of one investigation related to Ethereum 2.0. The firm seeks a legal declaration that MetaMask's swap and staking functions comply with securities laws, even as the SEC concludes other related probes without providing the clarity Consensys demands.

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