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📢 Breaking News 🔸️On May 10, the total net outflow of Bitcoin spot ETFs was $84.65 million. 🔸️Grayscale ETF (#GBTC ) experienced an outflow of $103 million. 🔸️Blackrock ETF (#IBIT ) experienced inflows of $12.43 million. 🔸️Fidelity ETF (#FBTC ) saw an inflow of $5.3 million 🔸️Billionaire Mark Cuban says SEC Chairman Gary Gensler did not protect a single investor against crypto fraud: “All it does is make it nearly impossible for legitimate crypto companies to operate.” $BTC $ETH $BNB

📢 Breaking News

🔸️On May 10, the total net outflow of Bitcoin spot ETFs was $84.65 million.

🔸️Grayscale ETF (#GBTC ) experienced an outflow of $103 million.

🔸️Blackrock ETF (#IBIT ) experienced inflows of $12.43 million.

🔸️Fidelity ETF (#FBTC ) saw an inflow of $5.3 million

🔸️Billionaire Mark Cuban says SEC Chairman Gary Gensler did not protect a single investor against crypto fraud: “All it does is make it nearly impossible for legitimate crypto companies to operate.”

$BTC $ETH $BNB

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Today in cryptocurrencies: Which developments stood out? Malaysian authorities have begun cracking down on crypto investors trying to avoid taxes. Ripple's legal representatives argued for a smaller fine, citing the U.S. Securities and Exchange Commission's (SEC) recent lawsuit against Terraform Labs. But a day later, the regulator refuted this claim in a letter to Judge Torres. The Malaysian federal agency, the Internal Revenue Board (IRB), has implemented a special operation called “Ops Token” to reduce tax revenue leakage from crypto trading. According to local reports, 38 personnel from the Royal Malaysian Police and Cyber ​​Security Malaysia (CSM) raided 10 different locations in the Klang Valley. IRB said: “Thanks to the operation, cryptocurrency trading data stored on mobile devices and computers was found and we successfully determined the value of the digital assets traded, resulting in a very significant leak of tax revenue.” IRB CEO Datuk Abu Tariq Jamaluddin warned crypto traders to properly declare their crypto taxes at nearby IRB offices as soon as possible before the IRB takes compliance action. The United States Securities and Exchange Commission criticized Ripple Labs' latest argument for a lower penalty, arguing that it would not be enough. Last week, #Ripple referenced the SEC's settlement with Terraform Labs when it requested a penalty of "not more than $10 million" from New York District Court Judge Analisa Torres on June 13; this is much lower than the regulator's proposed fine of $876.3 million But the SEC argued in a June 14 letter to Judge Torres that the two cases should not be an “apples-to-apples comparison” and that the proposed lower sentence “would not meet the purposes of civil sentencing statutes.” SEC said. The total penalties proposed by the SEC for Ripple are approximately $2 billion, of which $198.2 million is pre-judgment interest, $876.3 million is a civil penalty, and $876.3 million is compensation. #CryptoDeNostradame #ParrotBambooCrypto
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Self-Directed Investors Make 80% of Bitcoin ETF Purchases Amid Growing Institutional Interest. Bitcoin Exchange Traded Funds (#ETFs ) are rapidly gaining popularity, especially among people who manage their investments through online platforms. Samara Cohen, BlackRock's chief investment officer, noted that despite a slower-than-expected adoption rate, interest in Bitcoin ETFs is growing. This shift is seen as a significant development in the crypto investing landscape. Although individual investors make up the majority of the Bitcoin ETF market, institutional interest has also begun to grow. According to the latest quarter 13-F reports, hedge funds and brokerage firms are starting to take positions in these financial instruments. However, the participation rate among registered investment advisors remains relatively low, revealing continued skepticism within the professional advisor community. A CNBC survey revealed the main reasons why advisors are fully embracing #Bitcoin ETFs. The main concerns include Bitcoin's high volatility, relatively short operating history, and limited performance record. Advisers are also concerned about regulatory challenges and cryptocurrency's association with fraud and scandal. The current trading price for iShares Bitcoin Trust (#IBIT ) is $37.30, reflecting a change of -1.58%. Cohen emphasized that this period is important for gathering fundamental data and risk analytics to better understand Bitcoin's role in investment portfolios. Advisors are fulfilling their obligation to monitor these trends closely and include them in their financial advice, she said. #ParrotBambooCrypto #CryptoDeNostradame
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