Crypto

Ethereum ETFs may capture only 15% of Bitcoin ETF assets, says Bloomberg analyst

Bloomberg Senior ETF Analyst Eric Balchunas tempered the excitement over spot Ethereum exchange-traded funds (ETFs), suggesting they may attract only a fraction of the investments seen in Bitcoin ETFs. On May 20, reports indicated a 75% chance that the US Securities and Exchange Commission (SEC) would approve an ETH ETF, starkly contrasting the previous pessimism …

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Tether mints $1 billion USDT on Ethereum amid ETF anticipation

Stablecoin issuer Tether minted $1 billion USDT tokens on the Ethereum blockchain, capitalizing on a market upswing driven by hopes that the US Securities and Exchange Commission (SEC) might approve a spot ETH ETF for trading this week. Whale Alert first reported the minting, which was later confirmed by Tether CEO Paolo Ardoino, who wrote: “PSA: 1B USDt inventory replenish …

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Decentralized Web3 cloud gaming platform coming this summer in partnership with Aethir

GAM3S.GG, formerly Polkastarter Gaming, has unveiled it will launch a Web3 cloud gaming platform in partnership with Aethir amid an ambitious roadmap for 2024, emphasizing significant advancements in web3 gaming. The roadmap highlights several key initiatives to enhance user experience and drive the adoption of web3 gaming. In the second quarter of 2024, GAM3S.GG will …

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Potential ETF approval fuels 18% Ethereum surge, highest since 2021

Quick Take Ethereum, the second-largest digital asset by market capitalization, witnessed a remarkable price surge on May 20, fueled by Bloomberg analysts’ revised odds of a potential Ethereum Exchange-Traded Fund (ETF) approval. The analysts now estimate a 75% chance of the ETF receiving the green light, driving Ethereum’s price up by approximately 18% – the …

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Vitalik Buterin says Sam Altman should not get $7 trillion funding for AI semiconductor super farm

Vitalik Buterin, co-founder of Ethereum, has voiced his concerns regarding the rapid development of superintelligent AI and the concentration of power within the AI industry. In a recent statement, Buterin emphasized the risks associated with superintelligent AI and cautioned against rushing into its development. He specifically opposed allocating $7 trillion for server farms, referencing Sam …

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Inferno Drainer resumes operations, claims $250 million stolen from crypto users

Inferno Drainer, a notorious crypto wallet-draining kit provider, has resumed operations after abruptly shutting down last November, according to a May 20 screenshot shared by crypto security expert Plumferno. Web3 anti-scam firm Scam Sniffer also verified this information, noting a recent surge in phishing sites using Inferno Drainer’s services. Last November, the “scam-as-a-service” provider ceased …

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SEC: Ripple’s bid to hide financial data in remedies briefing ‘unlawful’

The US Securities and Exchange Commission (SEC) has objected to Ripple’s attempt to redact evidence in their remedies briefing, according to a court filing on May 20. While the SEC acknowledges Ripple’s right to seal certain exhibits, it argues that Ripple’s move to conceal financial and securities sales information is unlawful. The SEC contends that …

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Spot Ethereum ETF approval possible tomorrow keeping BlackRock 10 year approval streak alive

The SEC could approve a spot Ethereum ETF as early as this week, marking a significant shift in regulatory stance. Bloomberg analysts Eric Balchunas and James Seyffart have increased their odds of approval to 75%, up from 25%, citing recent chatter and the SEC’s request for revised 19b-4 filings by 10 am Tuesday. This rapid …

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Bitcoin ETFs see $237 million inflow on May 20, led by Ark and BlackRock

Quick Take Farside data shows that Bitcoin (BTC) exchange-traded funds (ETFs) saw a staggering $237.2 million inflow on May 20. Six of the 11 ETF issuers experienced significant inflows, with Ark ARKB leading the pack with a $68.3 million inflow, bringing its total net inflow to an impressive $2.6 billion. BlackRock IBIT followed closely with …

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Gala Games exploited for $200 million

An unknown attacker exploited the blockchain gaming project Gala Games on May 20 for approximately $200 million, according to reports. Solidity developer 0xquit said the attacker minted 5 billion GALA tokens through an admin address, noting that an external hacker or rogue address owner could be responsible. 0xquit stated that the attacker can mint 12 …

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