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BREAKING: $1.4 trillion giant Deutsche Bank to hold #bitcoin and crypto for institutional clients - Reuters
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Could Solana's ETF Approval Propel Meme Token $PEPE on Solana to New Heights? As we await the potential approval of a Solana ETF, many investors and enthusiasts are speculating about the ripple effects this could have across the entire Solana ecosystem. Among the myriad of tokens on this blockchain, one particularly stands out for its potential to skyrocket: the meme token $PEPE on Sol. Here’s why I believe the approval of a Solana ETF could be a game-changer for $PEPE: 1. Increased Exposure and Credibility The approval of a Solana ETF would significantly boost the visibility and legitimacy of the Solana blockchain. ETFs are traditionally seen as safe and reliable investment vehicles, and their approval by regulatory bodies is a strong signal of trust. This increased exposure could draw in a wave of new investors to Solana-based projects, including meme tokens like $PEPE. 2. Enhanced Liquidity An ETF would likely lead to a substantial influx of capital into the Solana ecosystem. This enhanced liquidity could benefit all tokens on the Solana blockchain, including $PEPE. Greater liquidity means easier trading and potentially higher price stability, both of which are attractive to investors. 3. Broader Adoption of Solana-based Assets With the backing of an ETF, more traditional investors might start exploring Solana-based assets. As these investors become more comfortable with the blockchain, they might venture into higher-risk, high-reward assets such as $PEPE. This broader adoption could drive demand and push up prices. 4. Positive Market Sentiment The approval of a Solana ETF would likely generate positive market sentiment around Solana and its ecosystem. This optimism could spill over into related projects, including PEPE on SOL. Investors often look for promising projects within a bullish ecosystem, and $PEPE, with its established meme culture, could be an attractive option. While predicting exact price movements is inherently speculative, the potential approval of a Solana ETF presents a highly favorable scenario for PEPE on SOl #MemeWatch2024

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Terraform Labs to dissolve, CEO asks community to take over following $4.47 billion SEC settlement Chris Amani, CEO of Terraform Labs, the developer of Terra blockchain, asked the community to take the reins as the firm plans to dissolve its operations. The firm, according to Amani, plans to sell its projects in the Terra ecosystem including Pulsar Finance, Station Wallet and Enterprise DAO. This follows Terraform's massive $4.47 billion settlement with the U.S. Securities and Exchange Commission related to the UST algorithmic stablecoin, which dramatically collapsed in 2022. "TFL always intended to dissolve at some point, and that point is now,” Amani stated on X, signaling the end for Terraform Labs. “We will be winding down operations completely.” Amani stated the firm plans for a community proposal that would lead to the burning of all unvested Luna, Terraform’s native token. “Anything that remains vested in our wallets will be burned by TFL,” he affirmed, committing to a decisive end for the company’s direct involvement with the token. He stated that Terra and Terra Classic blockchains could continue under the community’s control. “The community will need to take over ownership of the chain,” Amani stated, suggesting a community-led governance model that could redefine how blockchain projects operate post-crisis. The SEC initially charged Terraform and its co-founder, Do Kwon, in February 2023, accusing them of misleading investors and violating federal securities laws by engaging in fraudulent activities related to the sale of unregistered securities. Terraform’s proposed settlement revealed on Wednesday with SEC includes $3.58 billion in disgorgement and a $420 million civil penalty. It also prohibits Kwon from serving as an officer or director of any public company. Additionally, Do Kwon is required to contribute about $204 million to a bankruptcy estate for Terraform aimed at compensating the investors harmed by the scheme. Amani, Terraform's former COO, took over from Kwon in July 2023. TFL filed Chapter 11 bankruptcy in Jan

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SEC reaches $4.47 bln settlement with now-bankrupt crypto firm Terraform Labs Terraform Labs reached a $4.47 billion civil settlement with the U.S. Securities and Exchange Commission, after being found liable by a jury for defrauding cryptocurrency investors who lost an estimated $40 billion when the TerraUSD and Luna tokens collapsed in 2022. A proposed final judgment covering Terraform and its founder Do Kwon was filed on Wednesday in Manhattan federal court. It requires approval by U.S. District Judge Jed Rakoff, who oversaw the trial, which ended on April 5. Terraform's judgment includes $4.05 billion of disgorgement plus interest, and a $420 million civil fine. Much is unlikely to be paid because Terraform filed for bankruptcy in January. It will instead be treated as an unsecured claim in the Chapter 11 case, where Terraform is liquidating. The total judgment is $4.55 billion, including an $80 million civil fine for Kwon. He agreed to be banned from crypto transactions, and is required to transfer $204.3 million to Terraform's bankruptcy estate. "Entry of this judgment would ensure the maximal return of funds to harmed investors and put Terraform out of business for good," the SEC said in a court filing. "Thus, this proposed judgment is fair, reasonable, and in the public interest." Terraform and Kwon consented to the judgment. Their lawyers did not immediately respond to requests for comment. The SEC accused Terraform and Kwon of deceiving investors about the stability of TerraUSD, which he designed to maintain a constant $1 price, and falsely claiming that Terraform's blockchain was used in a popular Korean mobile payment app. TerraUSD and the closely-linked Luna, a more traditional token that Kwon also designed, collapsed in May 2022 when TerraUSD was unable to maintain its peg to the dollar. Kwon did not attend the trial after having been detained in Montenegro since March 2023, with the United States and South Korea seeking his extradition to face criminal charges. He has denied wrongdoing. #LUNC✅ $LUNC $LUNA #altcoins

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