🏦 Coinbase says market 'underestimating' timing and odds of spot 🪙Ethereum ETF approval

Coinbase analyst David Han said the market may be underestimating the chances of a potential spot Ethereum exchange-traded fund approvals, despite broad market consensus that won’t happen anytime soon. “Ether may yet have the potential to surprise to the upside in the coming months [and] does not appear to have major sources of supply-side overhangs such as token unlocks or miner sell pressure.”

Source

@CryptoMagazine

🪙 Coinbase expects 30% to 40% chance of spot ETH ETF approval by month-end

Crypto exchange Coinbase believes the odds of the SEC approving spot Ethereum ETFs by the end of the month stand between 30% to 40%. In a May 15 report, Coinbase Institutional Research Analyst David Han asserted that the main factor that led the SEC to approve spot Bitcoin ETFs — the correlation between CME futures product and spot exchange rates — could also lead it to approve spot Ethereum ETFs.

Source

@CryptoMagazine

🪙 Ether ETFs Filing Process Sees Abrupt Progress, Though Approval Not Guaranteed: Sources

The exchanges that want to list and trade shares of spot ether (ETH) exchange-traded funds are abruptly being asked by regulators to update key filings related to these products. Exchanges are being asked to update 19b-4 filings on an accelerated basis by the U.S. Securities and Exchange Commission, three people familiar with the situation told CoinDesk, suggesting they may be moving to approve these applications ahead of a key deadline this Thursday.

Source

@CryptoMagazine

🪙 Grayscale removes staking proposal from its spot Ethereum ETF filing

Grayscale Investments dropped its staking proposal in its proposed spot ether exchange-traded fund, according to an amended preliminary proxy statement. In a previous filing, Grayscale had proposed to investors the ability to stake ether through the trust. That language was not in an amendment preliminary proxy statement filed on Tuesday for the Grayscale Ethereum Trust.

Source

@CryptoMagazine

🪙 Ether options now biased toward calls for all expiries, analyst says

Amid renewed optimism for potential spot ether exchange-traded fund approvals, ether call options are more expensive than put options for all expires — indicating bullish market sentiment — an analyst said. "Put minus call skew is negative across all expiries and increasing further beyond the end-of-June expiry, quite a bullish signal — the basis has also increased to around 14% annualized, another bullish indicator," Deribit CEO Luuk Strijers said in an email sent to The Block.

Source

@CryptoMagazine

🟠 Florida court overturns Binance.US suspension order

The First District Court of Appeals in Florida has nullified an Emergency Suspension Order (ESO) issued by the Office of Financial Regulation against Binance.US, according to a court filing on May 22. Earlier this year, Florida’s regulator banned Binance.US from serving its residents, citing “immediate danger” to the public as the reason for its decision. The regulator also pointed to Changpeng Zhao’s legal issues, as the founder and former CEO of Binance Holdings pleaded guilty to federal finance charges.

Source

@CryptoMagazine

💰 Bitcoin Difficulty Rises 1.48% Reaching 84.38 Trillion at Block 844,704

Bitcoin’s mining difficulty increased by 1.48% at block height 844,704, reaching 84.38 trillion. This adjustment aligns with Bitcoin’s overall hashrate exceeding the 600 exahash per second (EH/s) mark. On May 23, 2024, at block 844,704, the difficulty adjusted from 83.14 trillion to 84.38 trillion. This rise follows a 5.62% decrease on May 9, 2024, coinciding with a hashprice lower than pre-halving levels. Hashprice refers to the estimated value of one petahash per second (PH/s) of hashing power per day.

Source

@CryptoMagazine

🇺🇸 SEC approves 8 🪙 Ethereum ETFs including BlackRock and Fidelity

The U.S. Securities and Exchange Commission approved eight spot Ethereum ETFs in an ominbus order, confirming a last-minute scramble to get them through. The SEC approved 19b-4 forms for the ETFs from BlackRock, Fidelity, Grayscale, Bitwise, VanEck, Ark, Invesco Galaxy and Franklin Templeton. While the forms have been approved, the ETF issuers need to have their S-1 registration statements go effective before trading can begin.

Source

@CryptoMagazine

💰 Bitcoin miner Marathon Digital partners with Kenya on renewable energy projects

Bitcoin mining firm Marathon Digital Holdings is partnering with Kenya's Ministry of Energy and Petroleum (MOEP) on several renewable energy projects. Marathon Digital and the MOEP will come up with a series of bitcoin-based renewable energy projects in Kenya. To facilitate that work, the two groups will establish a committee charged with steering the development and implementation of those energy-related projects across the African nation, according to a joint statement.

Source

@CryptoMagazine

💰 Bitcoin white paper returns to Bitcoin.org website

The Bitcoin white paper has been reuploaded to the Bitcoin.org website after Craig Wright’s unsuccessful court attempt to prove he is Satoshi Nakamoto, the protocol’s pseudonymous creator. Hennadii Stepanov, the maintainer of the Bitcoin.org website, announced the return of the Bitcoin white paper by sharing a link to the white paper PDF on platform X.

Source

@CryptoMagazine

📉 Friend.tech price drops over 20% after co-founder Racer hints at leaving Base

The native token for Web3 social networ Friend.tech fell sharply today after the protocol's co-founder, known pseudonymously as Racer, publicly expressed a desire to leave Base, the Coinbase-created Ethereum Layer-2 network that hosts the project. "System design bounty: If you can figure out a way to migrate friendtech off of Base without causing major issues for users, and it works well enough that we decide to use it, we will pay you $200K," Racer wrote on X.

Source

@CryptoMagazine

♦️ Polkadot celebrates 4 year anniversary with unanimous JAM upgrade approval

The Polkadot community celebrated the blockchain’s fourth anniversary by ratifying the highly anticipated Join-Accumulate Machine (JAM) upgrade. The proposal received unanimous support, with backing from over 31 million DOT tokens. JAM is a decentralized hybrid system offering secure and scalable smart contract functionalities by merging features from Ethereum within Polkadot’s framework.

Source

@CryptoMagazine

🪙 ETF approvals will boost Ethereum’s long-term growth despite short-term headwinds – Kaiko Research

Kaiko Research said on May 27 that spot Ethereum ETF approvals are a positive sign for the digital asset’s long-term growth despite potential short-term headwinds. According to Kaiko’s report, the approval has removed much of the regulatory uncertainty around Ethereum’s classification as an asset class. Will Cai, Head of Indices at Kaiko, said the approval means the SEC is implicitly treating ETH as a commodity rather than a security.

Source

@CryptoMagazine

🪙 Mt Gox Trustee and Mark Karpeles weigh in on the estate moving $9.8 billion of bitcoin

Earlier today, $9.8 billion of bitcoin from multiple wallets associated with Mt Gox was consolidated into a single wallet without prior warning from the Mt Gox Trustee, causing some alarm among creditors. "Under the Rehabilitation Plan, the Rehabilitation Trustee is preparing to make repayment for the portion of cryptocurrency rehabilitation claims to which cryptocurrency is allocated," the Trustee said.

Source

@CryptoMagazine

💰 PayPal USD to go live on Solana blockchain

PayPal USD is going live on the Solana blockchain. Users of Solana, the world's third-most-utilized blockchain, can now use the Paxos-issued PayPal USD to facilitate cross-border transactions, such as remittances, as well as a variety of other transactions, according to a statement from PayPal on Wednesday. PayPal USD first launched on the Ethereum network last August.

Source

@CryptoMagazine