The US SEC has approved the 19B-4 forms of eight spot Ethereum ETFs, but still needs to approve the issuer's planned S-1 form
The U.S. Securities and Exchange Commission (SEC) approved plans for spot Ethereum ETFs from the New York Stock Exchange, Chicago Board Options Exchange, and Nasdaq. The SEC has not yet issued full approval for spot Ethereum ETFs and still needs to approve issuer plans. Specifically, the SEC has approved Form 19B-4 for eight spot Ethereum ETFs, including ETFs from BlackRock, Fidelity, and Grayscale. Although the form has been approved, ETF issuers need to make the S-1 registration statement effective before they can begin trading. The SEC has just begun discussing the S-1 form with issuers, and it is unclear how long the process will take, but some analysts speculate that it may take weeks. Bloomberg ETF analyst James Seyffart added: "I think if they try really hard, it can be done in a few weeks, but there are many examples in history where this process has taken more than 3 months."
Later in the day, it was reported that the approval of the Ethereum spot ETF was a decision made by the US SEC's Trading and Markets Division on behalf of its committee; some analysts said that the US SEC's ETF decision means that ETH and "many" other tokens are not securities. Earlier yesterday, the US SEC chairman said that not every cryptocurrency token is a security; the SEC has legal tools for cryptocurrencies, but needs more resources.
US House of Representatives votes to ban Federal Reserve from issuing CBDC
According to CoinDesk, the U.S. House of Representatives voted to pass the CBDC Anti-Surveillance State Act, with 213 Republicans and 3 Democrats voting in favor and 192 Democrats voting against. The bill was proposed by Tom Emmer, the majority whip of the U.S. House of Representatives, and aims to prevent the Federal Reserve from issuing central bank digital currency (CBDC). Republicans expressed concerns that CBDC could be used to control Americans. Democrats said in a debate before the vote on Thursday that these concerns were exaggerated and that the ban would hinder innovation and research in the public sector.
Hong Kong SFC in talks to allow Ethereum ETF issuers to pledge
According to Tree News, the Hong Kong Securities and Futures Commission is in talks to allow Ethereum ETF issuers to engage in staking.
Biden's deadline for final decision on resolution to repeal SAB 121 extended to June 3
Cody Carbone, chief policy officer at cryptocurrency advocacy group The Digital Chamber, said on the X platform: "Update on the SAB 121 (crypto accounting policy) process: We received confirmation that the U.S. Congress did not send H.J Res 109, a resolution to repeal SAB 121, to Biden until last night. This changes the 10-day deadline. The President of the United States currently has a window until June 3 to decide whether to veto this resolution (10 days excluding Sunday)."
According to previous news, the bill to overturn SAB 121 was passed by the House of Representatives on May 8 and the Senate on May 17, respectively. Biden will make a final decision on the bill before May 28.
Market News: Coinbase loses Supreme Court case over Dogecoin dispute
According to Jinshi, market news said: Coinbase (COIN.O) lost the Supreme Court case regarding the Dogecoin dispute.
BlackRock’s Ethereum Spot ETF is now listed on DTCC website
According to WatcherGuru, BlackRock's Ethereum spot ETF has been listed on the DTCC website with the code ETHA. It is reported that the "standard process" listed on the DTCC website to prepare for the launch of a new ETF does not mean that the ETF has obtained any regulatory approval or other approval process results.
ETF Issuer VanEck Has Submitted a Revised S-1 Application Form for Ethereum Spot ETF
As previously reported, the SEC has approved the 19B-4 forms of eight Ethereum spot ETFs, but still needs to approve the issuer's planned S-1 form. Currently, ETF issuer VanEck has submitted the revised S-1 application form for the Ethereum spot ETF as soon as possible.
Fantom Foundation establishes Sonic Foundation for its new chain Sonic
According to Cointelegraph, the Fantom Foundation announced the establishment of a new foundation, the Sonic Foundation, to promote the launch of the upcoming new Sonic chain. The Sonic Foundation will be responsible for overseeing Sonic's governance, managing network funds, coordinating partnerships, and developing a DApp ecosystem. It is reported that Sonic will consist of a new Layer1 solution and a built-in Layer2 that can bridge EVM-compatible networks directly to the Ethereum network. Through the architecture of Sonic Chain, users of the upcoming Sonic network will be able to take advantage of Ethereum's huge ecosystem of decentralized applications, liquidity providers, and communities.
Yesterday, the Fantom community passed the first proposal of "Building Sonic Chain", which intends to support the 1:1 exchange of FTM and S tokens. Earlier today, the Fantom Foundation completed a strategic financing of US$10 million, led by Hashed.
Figure Markets purchased 784,000 SOL tokens at auction for $80 million
According to The Block, in a recent asset auction (conducted by FTX estate), Figure Markets purchased 784,000 SOL for US$80 million, with a unit price of US$102.
Coinbase to launch Bonk, FLOKI and Shiba Inu perpetual futures contracts on May 30
According to the official announcement, Coinbase International Exchange and Coinbase Advanced will add support for Bonk, FLOKI and Shiba Inu perpetual futures contracts. The 1000BONK-PERP, 1000FLOKI-PERP and 1000SHIB-PERP markets will be open on or after 17:30 on May 30, 2024 (GMT+8).
Coinbase has launched AVAX staking service
Coinbase Assets tweeted that AVAX staking service has been launched today, with an annualized yield of up to 4.47%.
Degen: 3.6 million DEGEN has been refunded to users who lost funds on the Reservoir Relay bridge due to the Degen chain failure
According to Degen's official Twitter account, 3.6 million $DEGEN has been refunded to users who lost funds on the Reservoir Relay bridge due to the Degen chain failure. Degen said it will continue to support all users affected by the failure. Degen also said that adding liquidity to Aerodrome's centralized liquidity pool this week will achieve an extremely high annualized rate of return, which is worth paying attention to.
Coinbase to Restore XRP Trading Support in New York
Coinbase Assets official Twitter account said that XRP is now available to New York residents on the Coinbase website and its iOS and Android apps. Coinbase users can log in to buy, sell, convert, send, receive or store these assets.
Grayscale launches Stacks and Near trust funds
According to Decrypt, asset management company Grayscale announced the launch of two new investment trusts: Grayscale Near Trust and Grayscale Stacks Trust, which provide investors with exposure to Bitcoin Layer-2 Stacks and Near Protocol. These trusts are limited to approved investments. Ligo Network officially launched IDO on the Fjord Foundry auction platform
Ligo Network (BTC layer2) officially announced that its mainnet has been officially launched and has passed the due diligence and KYC certification of the IDO platform Fjord Foundry. Ligo Network's IDO was officially launched on May 23 and will last until 12:00pm (UTC+8) on May 26. It is reported that Fjord Foundry, as a liquidity launch pool (LBP) platform, has successfully helped multiple projects raise more than US$954 million in funds so far, such as NuLink (5.2 million), XSwap (2.74 million), FJO (15.35 million), APUFF (9.05 million) and Zero1 (10.78 million).
Swell increases its first quarter token allocation from 7% to 8%
Liquidity re-staking platform Swell Network announced that it is finalizing the necessary arrangements for the Token Generation Event (TGE), including an audit of rswETH withdrawals, but the exact date of the TGE cannot be determined at this time and is still expected to take place in the coming weeks. To express gratitude to users for their patience, Swell increased the token allocation ratio for Season 1 (The Voyage) from 7% to 8%, and developed a mechanism to reward the loyalty of long-term community members in the airdrop. Swell Network said that due to the uncertainty of the audit results and the priority given to security, the specific TGE date cannot be determined. Although the process has been delayed from April, which was expected at the beginning of the year, Swell apologized for the delay. The platform also emphasized that Sybils will not be rewarded. Swell also stated that Justin Sun (Sun Yuchen) was not eligible for the airdrop reward for Season 1 (The Voyage) because he deposited weETH in the pre-launch deposit of Swell L2.
STEPN launches new social lifestyle app STEPN GO, where you can earn GGT tokens by walking or running
According to official news, STEPN has launched its latest social lifestyle app, STEPN GO. The app combines sports and social interaction to provide users with a variety of reward features: Haus System, which does not require cryptographic knowledge, allows users to lend sneakers to friends and family to help them get started easily; earn new GO GAME TOKEN (GGT) by walking or running; create unique clothing and display it on the interactive map within the app to stand out in the community; users need to burn sneakers to gain energy and increase the energy limit to ensure economic sustainability. These features will be rolled out gradually to ensure smooth integration and the best user experience. In addition, STEPN GO will launch an Alpha lottery event, where participants have the opportunity to win the first 6,000 STEPN GO Sneakers.
Layer 2 network Plume Network completes $10 million seed round of financing, led by Haun Ventures
According to The Block, Plume Network, a Layer 2 network focusing on real-world assets (RWA) on-chain, has raised $10 million in a seed round led by Haun Ventures. Other investors include Galaxy Ventures, Superscrypt, A Capital, SV Angel, Portal Ventures, and Reciprocal Ventures. Plume Network co-founder and CEO Chris Yin said that the company began negotiations with investors in April and eventually raised four times more funds than planned and closed the financing earlier this month. Plume Network previously raised $1.6 million through a simple agreement for future rights (SAFE) and token warrant rounds, which ended with $2 million, part of the $10 million seed round announced today. Plume Network is a modular Layer 2 network compatible with the Ethereum Virtual Machine (EVM) that aims to bring multiple asset classes on-chain in compliance with efficient and secure blockchain technology. Currently, Plume is in private testnet, with more than 80 RWA and DeFi projects built on its network, including collectibles, alternative assets, synthetic assets, luxury goods, real estate, lending protocols and perpetual decentralized exchanges. Plume Network plans to launch a public incentive testnet in the coming weeks and launch the mainnet later this year. The financing will be used to expand the team, especially in engineering, marketing and community recruitment.
ZK hardware startup Cysic completes $12 million pre-Series A financing, led by HashKey Capital and OKX Ventures
According to CoinDesk, zero-knowledge (ZK) hardware startup Cysic announced the completion of a $12 million pre-A round of financing, led by HashKey Capital and OKX Ventures. The new funds will be used to accelerate the generation of ZK proofs in a faster, more cost-effective, user-friendly and decentralized manner. According to previous news, Cysic completed a $6 million seed round of financing in February last year, led by Polychain Capital, and participated by investors such as Hashkey, SNZ Holding, A&T Capital, ABCDE and Web3.com Ventures.
Fantom Foundation Completes $10 Million Strategic Financing, Led by Hashed
According to The Block, the Fantom Foundation has completed a $10 million strategic financing led by Hashed, with participation from UOB Ventures, Signum Capital, Aave Foundation, and angel investors such as Stani Kulechov, Robert Leshner, Michael Egorov, Fernando Martinelli, Tarun Chitra, and Sam Kazemian. The funds from this round of financing will be used to support the Sonic Foundation as well as strategic growth and ecosystem development, focusing on enhancing the liquidity of automated market makers and money market blue chip pools. In addition, the Fantom Foundation announced plans to establish the Sonic Foundation and Sonic Labs before launching the Sonic blockchain. The Sonic Foundation will manage governance and funds, while Sonic Labs will focus on the development of decentralized applications.
In the past 12 hours, the total network contract liquidation was 321 million US dollars, mainly long orders
According to Coinglass data, in the past 12 hours, the cryptocurrency market has a total contract liquidation of $321 million, of which $240 million is for long orders and $80.8087 million is for short orders. The total liquidation amount of ETH is $124 million, and the total liquidation amount of BTC is $66.6184 million.
Data: Grayscale Ethereum ETF's discount rate has narrowed to -7.19%
The Block data shows that the discount rate of Grayscale Ethereum ETF (ETHE) has narrowed to -7.19%. According to previous news, the SEC has approved the 19B-4 forms of 8 Ethereum spot ETFs, including Grayscale.
US Bitcoin Spot ETF Holds Over 850,000 Bitcoins
According to CoinDesk, the holdings of US Bitcoin spot ETFs have reached a new high, exceeding 850,000 Bitcoins. Among them, Grayscale's GBTC holds the largest number of Bitcoins, worth more than $20 billion, followed by BlackRock's IBIT, which is $19.6 billion, while Hashdex Bitcoin ETF holds the smallest amount, which is $12 million.
MEV trading firm Symbolic Capital Partners sold 6,968 ETH worth $27.38 million in 1 minute
According to Ai Yi's monitoring, half an hour ago, ETH briefly fell below $3,800. This wave of spikes may have been driven by MEV trading company Symbolic Capital Partners. The agency sold 6,968 ETH in one minute at 20:56, worth $27.38 million, with an average selling price of $3,930. One of the transactions sold 3,497 ETH on the chain at one time, with a bribe of up to 90 ETH.
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