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NewsBriefs - Canary Capital seeks SEC approval for first Pengu ETF

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  • The Block

    Canary Capital seeks SEC approval for first Pengu ETF

    Canary Capital has filed with the US Securities and Exchange Commission for the first-ever Pengu ETF, marking an expansion in its crypto offerings. This ETF will focus on PENGU tokens and Pudgy Penguins NFTs, alongside other crypto assets like SOL and ETH. Canary is also pursuing altcoin ETFs for Sui, Hedera, and Litecoin. This comes as the SEC shows a more accommodating stance towards crypto ETFs, following previous approvals for Bitcoin and Ethereum spot ETFs.

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    • Axios

      Galaxy Digital settles for $200 million with NY AG over LUNA promotion

      Galaxy Digital has reached a $200 million settlement with the New York Attorney General's office for promoting LUNA without adequate disclosure of its financial interests. The settlement arises from allegations of Galaxy's misconduct in selling the once-prominent crypto token LUNA while publicly promoting it, significantly profiting from these activities without proper disclosure to investors. Galaxy neither admitted nor denied the allegations but agreed to a series of commitments to avoid future conflicts of interest.

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    • The Block

      SEC ends investigation into Crypto.com without filing charges

      Crypto.com announced that the US Securities and Exchange Commission (SEC) has concluded its investigation into the company without pursuing any enforcement actions. This decision is part of a broader trend where the SEC has recently dropped multiple investigations and lawsuits against crypto firms such as Kraken, Coinbase, and Ripple. The SEC's shift in approach follows significant organizational changes and policy reversals since the onset of the Trump administration and the departure of former SEC Chair Gary Gensler.

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    • Bitcoin Sistemi

      SEC drops enforcement actions against Kraken, Consensys, and Cumberland

      The US Securities and Exchange Commission has dismissed its civil enforcement actions against Kraken, Consensys, and Cumberland, citing a strategic reform in its regulatory approach rather than the merits of the cases. This move is part of the SEC's broader recalibration of its legal stance towards the crypto industry.

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    • Hand-Picked

      ICE collaborates with Circle to explore new crypto products based on USDC, USYC

      Intercontinental Exchange and Circle have signed a memorandum of understanding to utilize Circle's stablecoin USDC and its tokenized money market offering, US Yield Coin (USYC), to innovate and develop new market solutions. This collaboration aims to integrate USDC into diverse use cases across ICE's derivative exchanges, clearinghouses, data services, and other markets, leveraging ICE's global network and Circle's technology to expand digital currency applications in capital markets.

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      Senate repeals controversial IRS crypto rule, President Trump expected to sign

      The US Senate voted to repeal an IRS rule mandating decentralized finance industry participants to operate like traditional securities brokers, which required them to collect and report user trading data and issue tax forms. President Donald Trump is anticipated to approve this measure, overturning a rule that was introduced in the final days of the previous administration. The decision was supported by a bipartisan majority and reflected concerns over privacy and the excess regulatory burden on US innovation in the crypto sector.

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      GameStop plans $1.3 billion note offering to acquire Bitcoin as a treasury asset

      GameStop announced a $1.3 billion private offering of convertible senior notes to fund its new Bitcoin acquisition plan, starting with these notes due in 2030 and targeting large institutional investors. This move aims to include Bitcoin as a treasury reserve asset, aligning with its updated investment policy announced along with its fourth-quarter earnings, where GameStop reported a net income of $131.3 million and $4.75 billion in cash. This initiative follows the closure of its NFT marketplace and reflects a significant pivot towards integrating Bitcoin into its treasury operations.

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    • Cointelegraph

      Fidelity plans to launch US dollar-pegged stablecoin

      Fidelity Investments is preparing to launch a US dollar-pegged stablecoin and an Ethereum-based share class for its US dollar money market fund, expanding its offering in the crypto market. This move is part of a broader initiative under a crypto-friendly regulatory environment anticipated by the current US administration. Fidelity's stablecoin will be launched through Fidelity Digital Assets, while the Ethereum-based 'OnChain' share class aims to facilitate transaction tracking for the Fidelity Treasury Digital Fund. These developments reflect a growing trend of financial institutions embracing crypto services and products.

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      SEC concludes investigation into Immutable with no charges

      The US Securities and Exchange Commission has ended its investigation into the Australian crypto firm Immutable, which had previously received a Wells notice over potential securities law violations. Immutable celebrated this decision as a victory for digital ownership in the gaming sector. This closure aligns with the SEC's recent trend of dropping cases against various crypto entities and pursuing clearer regulations under its new leadership post-Trump administration and Gary Gensler's tenure.

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    • Cboe

      Cboe files 19b-4 for Fidelity Solana ETF, signaling mainstream push

      Cboe has filed a 19b-4 form with the US Securities and Exchange Commission to list a Solana exchange-traded fund (ETF) proposed by Fidelity. Fidelity's Solana ETF, expected to track the spot price of SOL, aims to include the high-performance blockchain in regulated financial markets, expanding its crypto ETF range beyond Bitcoin and Ethereum. This move reflects a growing demand from investors for altcoin exposure and could significantly impact the mainstream financial integration of Solana.

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    • PeckShield

      GMX and MIM Spell targeted in $13 million crypto hack

      On March 25th, GMX and MIM Spell, two key DeFi platforms, suffered a significant security breach resulting in the loss of approximately 3,260 ETH, valued around $13 million. The breach targeted their smart contracts, highlighting ongoing security concerns in the DeFi sector, especially for platforms with substantial TVL. GMX, a decentralized exchange, and MIM Spell, operated by Abracadabra, play major roles in trading and lending within the crypto ecosystem.

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    • Cointelegraph

      Kentucky governor Andy Beshear enacts Bitcoin Rights bill

      Kentucky governor Andy Beshear signed the Bitcoin Rights bill into law, establishing legal protections for crypto users’ rights such as self-custody and operation of nodes without discrimination. The bill, HB701, introduced by Rep Adam Bowling, also safeguards crypto mining activities from local zoning changes and clarifies that crypto mining and staking are not considered securities. This comes as Bitcoin legislation progresses in another US state, where Oklahoma and Arizona are advancing their digital asset initiatives.

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    • Globe Newswire

      Dogecoin Foundation's corporate arm launches Official Dogecoin Reserve to enhance payment efficiency

      House of Doge, the business arm of the Dogecoin Foundation, has launched the Official Dogecoin Reserve, buying 10 million Dogecoin to promote Dogecoin as a mainstream global payment option. This reserve aims to solve the transaction lag prevalent in digital currencies by enhancing payment efficiency at checkouts. The Reserve's initiation represents a significant development in making Dogecoin a reliable, scalable global currency for everyday transactions and merchant acceptance.

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    • The Block

      Polymarket expands capabilities with SOL deposits on Solana

      Polymarket has introduced the option for users to deposit SOL on its platform, expanding beyond the previous requirement of using USDC stablecoins. Operating on the Polygon network, the crypto prediction platform is enhancing its accessibility by incorporating Solana, which ranks just above USDC in terms of market capitalization. This move aims to rejuvenate user engagement following a slight decline since peaking during the US presidential elections.

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      Trump Media partners with Crypto.com to launch 'Made in America' ETFs

      Trump Media and Technology Group has partnered with Crypto.com to create exchange-traded funds (ETFs) and products focused on digital assets and US-based securities under the Truth.Fi brand. The ETFs will feature a basket of cryptocurrencies including Bitcoin and Cronos, and will be supported by Crypto.com's technology and custody services. These ETFs, awaiting regulatory approval, aim to support American innovation and economic growth and will be available internationally through Foris Capital US.

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      Standard Chartered tests Mag 7B index, replaces Tesla with Bitcoin for better returns and stability

      Standard Chartered developed a modified version of the 'Magnificent 7' tech index, named 'Mag 7B', by substituting Tesla with Bitcoin. The bank's analysis revealed that Mag 7B outperformed the original Mag 7 index, demonstrating higher returns and lower volatility. This shift indicates Bitcoin's potential dual role as a tech stock and a hedge against traditional finance risks, suggesting increased institutional investment in Bitcoin could be advantageous.

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