NuggetRush prepares to go big post-launch NuggetRush has been hailed as one of the leading projects, checking most, if not all, the boxes.
For starters, its ongoing presale is impressive, hitting $3.4 million earlier this week and soaring past most new ICOs. #BullorBear Further, it represents the best features of memes, GameFi, P2E, and NFTs—the hottest crypto trends. This makes it appealing to investors and enthusiasts across the crypto landscape. Hence, it is expected to do exceedingly well.
In the launchpad round of the presale, a token costs $0.019 and is tipped for a 55x upswing after its debut.
Besides its anticipated bullish trajectory post-launch, its smart contract audit by SolidProof further makes it appealing. More importantly, the contract will be renounced after launch, with ownership transferred to the community, making it trustless and transparent. #BinanceLaunchpool Social media platforms might be flooded with airdrop farming, especially for BLOCK, but Ripple has begun to get the right kind of attention. It is no secret that it is caught in the web of regulatory uncertainties, with its ongoing lawsuit with the US SEC dragging on and creating bad PR. #Memecoins investors have been looking beyond its regulatory landscape and more at its potential. It is perceived to be one of the most bullish altcoins, competing with hot narratives like AI tokens and gaming tokens.
Following the overall market upswing, XRP has been mirroring the movement, sparking excitement within the community. #sanor016CommUNITY According to top analysts, XRP’s surge past $1.00 this year is imminent, making it one of the best cryptos to invest in. Given its upside potential, investors can ride this promising wave by accumulating more XRPs and HODLing.
As Dogwifhat and Bonk mark their territory with significant gains in the Solana ecosystem, the newcomer Slothana catches the eye, rapidly raising $2 million in its presale, signaling its potential to become the next big Solana memecoin.
The Solana memecoin ecosystem continues to prevail as market leaders Dogwifhat and Bonk increase by 20% and 5%, respectively. However, emerging presale Slothana looks primed to challenge the top dogs, raising $2 million in its first three days.
Dogwifhat and Bonk soar as Solana network thrives The Solana network is growing in notoriety as its leading meme coins continue to dominate the market.
Currently, Dogwifhat is priced at $3.7, up 20% today, 52% this week, and 365% this month. Its recent increase has forged a higher high on its price chart, confirming its bullish trend trajectory.
Meanwhile, its RSI is back on the rise after resetting last week. This places WIF in an advantageous position, currently near an ATH with its RSI in the mid-range. Dogwifhat, Bonk see gains; Slothana poised to be major Solana
Prominent trader Wick cited a “dots” indicator to analyze Dogwifhat’s upcoming outlook. He noted that the token is bullish on both the micro and macro time frames.
Also offering an optimistic outlook, TradingView analyst MarinaCeoFarmCoin anticipates a move toward $5.2. The analyst initially published the chart idea when WIF was trading at $2.3. He set four price targets, the first three of which have already hit, leaving only $5.2 remaining.
Bonk has also been enjoying bullish momentum recently. It is currently priced at $0.00002721, up 5% today, 15% this week, and 28% this month.
After a retracement from its ATH, Bonk has reclaimed its earlier ATH, flipping it into support. Similarly to WIF, BONK also reset its RSI recently, providing room for further growth.
Ethereum co-founder Vitalik Buterin is becoming more vocal about the current meme coin craze.
“I want to see higher quality fun projects that contribute positively to the ecosystem and the world around them (and not just by ‘bringing in users’) get more mindshare,”
Buterin wrote on Friday, March 29. “At the least, more good memecoins than bad ones, ideally those that support public goods instead of just enriching insiders and creators.” #sanor016CommUNITY Buterin also highlighted the potential for meme coins to serve as a third form of funding technology, catering to various societal causes (i.e., an AntiCancerCoin or ClimateCoin).
He further expressed concerns about the current surge in meme coins. There are currently more than 340 meme coins in circulation, according to CoinGape. Typically, these meme coins are just hyped by founders and insiders and have no real value to the general public.
Some of these meme coins even have openly racist elements within certain projects, particularly in the Solana ecosystem, Buterin noted. #MemeCoinsSeason Buterin expressed his concerns about how meme coins are dominating discussions within the crypto space in 2024.
He noted their history, dating back to Dogecoin in 2015, and how they were a prominent topic during the 2020-2021 season. However, this time around, their resurgence is causing unease, as they lack innovation and substance. #sanor016CommUNITY Despite meme coin shortcomings, Buterin noted a successful example where he gifted half the supply of the Dogelon Mars token to the Methuselah Foundation, fostering a positive relationship between the foundation and the Dogelon Mars community, effectively converting ELON into a charity coin.
In exploring solutions, Buterin emphasized the importance of creating meaningful and engaging games within the cryptocurrency space. #sanor016CommUNITY
LayerZero CEO alleges Kyle Davies offered ‘better rates’ in a bid to rescue 3AC before bankruptcy @sanor016 #sanor016CommUNITY
Bryan Pellegrino, LayerZero’s co-founder and CEO, has publicly accused Three Arrows Capital (3AC) co-founder Kyle Davies of trying to pressure the company to move its entire treasury to the now-defunct crypto hedge fund right before its bankruptcy.
These allegations surfaced after Pellegrino responded to a post on X. In his response, he claimed Davies offered “better rates than other borrowers” in a desperate attempt to salvage the hedge fund before its downfall.
Pellegrino Pellegrino sharply criticized Davies for his deceitful behavior. “Getting liquidated is one thing. Lying and exploiting…is another,” he wrote.
The recent allegations follow Davies’s appearance on a March 19 episode of the Unchained Podcast. In the discussion, Davies didn’t seem remorseful about 3AC’s bankruptcy. #ETH He laughed off the notion that his failure was something he deeply regretted, implying that bankruptcies are very common within the crypto industry.
Davies maintained that his professional reputation is unblemished, regardless of the serious criticism he has received for his conduct before and after to the downfall of 3AC. #BTC He revealed that he was meeting with the fund’s creditors and had also consulted with Teneo, the 3AC liquidator.
Davies remained optimistic about the situation, noting that they might soon reach a settlement fair for all parties. #BNBChain On Dec. 21, Teneo obtained a court order in the British Virgin Islands to freeze $1.14 billion in Davies and Zhu’s assets. The liquidator is trying to recover the $3.3 billion that they owe creditors after 3AC went bankrupt.
The firm specifically targeted Zhu and Davies for $1.3 billion, accusing them of recklessly leveraging investor funds after the hedge fund became insolvent. #HotTrends
Sam Altman’s Worldcoin unveiled a new personal data custody feature and made the core software of its iris-scanning Orb open source.
Worldcoin‘s Orb scans individuals’ irises to create World IDs, biometrically unique accounts aimed at establishing a global basic income through the distribution of its WLD token.
During a time of skepticism and regulatory scrutiny, particularly over its handling of sensitive biometric data, Worldcoin has taken steps to increase transparency and user control.
The project recently announced that the core software powering the Orb’s functionality would be open source, allowing public scrutiny and contributing to its development. WLD has been up 24% over the past month, according to data from CoinGecko. #ETH Worldcoin also introduces a personal custody feature, marking a pivotal shift in storing and managing biometric data. Under the new model, the biometric data captured by the Orb during the World ID verification process will be stored on the user’s device, typically a smartphone. #BTC The feature empowers users with the autonomy to manage their data directly, including the option to delete it, thereby enhancing trust and mitigating privacy concerns. #BNBChain Worldcoin’s developments come as the project has registered approximately 4.5 million people worldwide and faces regulatory challenges, including a temporary ban in Spain. #HotTrends
The Prosecutor General’s Office of Montenegro says the decision to deport Terraform Labs founder Do Kwon to South Korea was illegal.
According to a statement from the prosecutor’s office dated March 21, the Minister of Justice can only make a decision on a simplified procedure for the extradition of Terraform co-founder Do Kwon Labs to the Republic of Korea.
Prosecutors say the Supreme Court exceeded its authority by shortening the extradition hearing and granting permission. During the appeal, the court did not hear the prosecutor’s office’s arguments, which is also a violation of Montenegro’s legislation.
The Prosecutor General’s Office invites the Supreme Court to consider the request and cancel the decision to extradite Do Kwon. If the decision is approved, he will remain in Montenegro indefinitely.
The case of extraditing the entrepreneur has become the subject of many legal proceedings.
In November 2023, the Supreme Court of Montenegro approved the extradition but later transferred the decision to extradite Do Kwon to a specific country to the Ministry of Justice. #ETH The defendant’s lawyers later appealed the ruling, after which a higher court overturned the verdict. After some time, information appeared that the entrepreneur would be handed over to the U.S. authorities. However, Do Kwon’s defense successfully appealed this decision. #BTC In early March, the Supreme Court of Montenegro approved the extradition of the former head of Terraform Labs to South Korea. The verdict provides a simplified process for handing over the accused to the country’s authorities for further prosecution. #BNBChain U.S. authorities, who also brought charges against Do Kwon, plan to appeal the decision in their favor. The SEC accuses the founder of Terraform Labs and his company of fraud that caused billions in losses. #HotTrends
Bitcoin and Ethereum options worth early $2.6 billion in notional value expired today amid a broader market pullback.
According to Greeks.live, 25,000 BTC options expired, showcasing a Put Call Ratio of 0.56. The ratio indicates a higher interest in call options than puts, suggesting optimism among a segment of investors.
The Max Pain point stood at $67,000 with a notional value of $1.7 billion. Similarly, 250,000 ETH options expired, with a Put Call Ratio of 0.51 and a Maxpain point of $3,500, amounting to a notional value of $890 million.
The Max Pain point represents the strike price at which most options would expire worthless, often considered a pressure point for the market.
The crypto market recently experienced a shift, moving away from the potential rally anticipated last week. Bitcoin’s inability to hold above $70,000 led to a pullback, defying previous expectations of a sustained rally. #BTC This week, the market saw a surge in put demand alongside a sharp increase in implied volatility across all significant terms. However, contrary to expectations, many put positions closed at a profit, reflecting a strategic exit by investors. #BOME Bitcoin’s price is now just below $63,000, marking a 6% decrease today. The price decline aligns with a record outflow of $742 million from Bitcoin ETFs over the week, underscoring investor caution and a shift in market sentiment. #BNBChain As prices align closer to the Maxpain points, the once prevalent FOMO (Fear of Missing Out) sentiment has diminished, signaling a more cautious approach by market participants. #HotTrends
The world’s largest asset management company, BlackRock, has increased the amount of Bitcoin on its balance sheet.
According to the website, BlackRock has increased the amount of Bitcoin (BTC) in its iShares Bitcoin Trust (IBIT) to 242,829. The volume of assets under management in the fund’s spot Bitcoin ETF reached $15.5 billion at the current exchange rate.
Fox journalist Eleanor Terrett also reported that BlackRock’s Head of Digital Assets, Robert Mitchnick, noted that Bitcoin is the top priority for the company’s clients, followed by Ethereum.
Mitchnick emphasized that the crypto community would like to see even more crypto products from BlackRock, but this differs from the company’s current focus. #BTC According to SoSo Value, on March 21, IBIT took first place in terms of capital inflows. It added $233.4 million to its balance sheet, and the volume of funds under management reached $13.3 billion. #BOME In second place is an investment product from Bitwise Asset Management with $12.1 million, and in third place is Valkyrie Bitcoin Fund (BRRR) with $4.72 million. At the same time, the total daily capital outflow in the spot Bitcoin ETF sector amounted to $93.8 million. #BNBChain The negative trend continues for the fourth day in a row due to an increase in outflows of $358.7 million from the GBTC fund from Grayscale Investments. Between March 18 and March 21, the figure rose to more than $1.8 billion, and the total outflow of funds amounted to more than $835 million. #HotTrends
Core Ethereum developers have started the “pump the gas” campaign to raise the blockchain’s gas limit from 30 million to 40 million.
The initiative aims to reduce transaction fees on its primary layer by 15% to 33%, as announced on March 20. The idea stems from Eric Connor, a key Ethereum developer, and Mariano Conti, former head of smart contracts at MakerDAO, via a newly established website for the initiative.
Their objective is to accommodate a 33% greater transaction volume daily on Ethereum, potentially reducing layer-1 transaction fees significantly.
Central to the campaign is the conern that while data blobs introduced in the Dencun update via EIP-4844 have successfully reduced layer-2 transaction prices, layer-1 fees have remained unchanged.
The developers are of the opinion that by increasing the gas limit and utilizing data blobs, scaling for both layer-1 and layer-2 networks might be greatly improved.
Crypto.news reached out to Connors for further insights but didnot hear back. Gas, measured in gwei (a fraction of Ether), is used to complete transactions or execute smart contracts. As such, the gas limit is a crucial parameter for the Ethereum network.
It determines the maximum amount of gas that can be used for transactions or smart contracts in a block. Since August 2021, the limit has been set at 30 million.
Gas limit standardization guarantees that block sizes are kept at a manageable level, thus maintaining network speed and synchronization.
When new blocks are formed, validators can dynamically modify these limits depending on certain criteria.
The idea behind raising the gas limit is that it allows for more transactions per block, which will make the network faster and more capable.
However, this also means an increased demand for hardware resources, leading to greater risks of network spam and vulnerability to attacks.
OpenSea and the Seaport Working Group have released Seaport 1.6, the most recent version of the NFT marketplace protocol for the Ethereum Virtual Machine (EVM) ecosystem.
‘Seaport hooks,’ a new feature of the upgrade, is modeled around Uniswap v4 hooks. The goal of this feature is to facilitate the development of applications that increase NFTs’ utility and liquidity.
By functioning as order fulfillment plugins, these hooks enable developers to easily integrate custom contracts into the Seaport protocol.
Compared to its predecessor, Seaport 1.5, version 1.6 leverages the most recent Ethereum Dencun update.
As a result, the platform says users will benefit from a 5% reduction in gas fees for some transactions. According to the announcement, major EVM chains are already using this deployment. #Write2Earn Using the Seaport hooks function, contracts can be deployed and invoked by Seaport, ensuring a smooth and efficient order execution process.
This allows NFTs to adapt their properties based on purchase conditions such as price and volume and can be obtained using specific currencies or other NFTs. It also allows for the development of bonding curves and price oracles for NFTs. #Write2Earn OpenSea intends to move user orders to Seaport 1.6 on Monday, March 25. This technique does not involve user interaction.
Furthermore, as of Monday, April 1, only Seaport 1.6 orders will be accepted by the OpenSea Developer API. Consequently, Seaport 1.5 will be phased out over time. #Write2Earn In addition, OpenSea mentioned that the integration of seaport hooks will allow NFT sales to access liquidity from various on-chain sources.
This integration is expected to broaden the possibilities for DeFi and NFT interoperability, bringing in features such as time-weighted average price (TWAP) oracles for the NFT sector. #Write2Earn
In 2024, Solana accounts for 49.3% of global investor interest in blockchain ecosystems.
Experts from CoinGecko analyzed data on Internet requests between Jan. 1 and March 18, revealing that almost half of investors are interested in Solana.
The leadership is fueled by SOL’s growth to highs since 2021, the development of ecosystem projects like Pyth, and the popularity of meme tokens such as Dogwifhat (WIF).
Ethereum took second place in the ranking with an indicator of 12.7%, as experts believe that brand awareness and reputation play a role in favor of the ecosystem.
However, observation shows investor attention is shifting towards second-layer networks built on Ethereum. #Write2Earn The Binance-supported BNB Chain took third place with 5.4%, with interest mainly due to BNB’s growth. Experts noted that SOL has approached record levels.
Arbitrum and Base became the most popular layer-2 network ecosystems among investors, with 3.3% and 3.2% of investor interest, respectively.
Both are built on the Ethereum blockchain. According to CoinGecko experts, investor interest is fueled by leadership in terms of the volume of locked value in the segment in the case of Arbitrum. Behind Base is the largest American crypto exchange, Coinbase.
On March 13, Ethereum developers activated the Dencun hard fork on the mainnet. #Write2Earn As a result of the implementation of one of the main components of the update, called EIP-4844, orders of magnitude reduced commissions in layer-2 networks based on Ethereum.
Base was one of the projects that received the most significant benefit from Dencun. Daily transaction volume on the blockchain jumped roughly fivefold as network fees dropped. #Write2Earn
The SEC has no compelling reason to reject applications to launch an Ethereum ETF, says Coinbase chief legal officer Paul Grewal.
In his X post, Grewal revealed vital facts about Ethereum, highlighting its widespread adoption among millions of Americans since its inception in 2015 and its integral role in the cryptocurrency ecosystem.
According to the Coinbase lawyer, the SEC has treated Ethereum (ETH) as a commodity, not a security, for many years. The CFTC and federal courts have unanimously confirmed that the asset has this status.
Coinbase‘s lawyer referred to statements made by the agency’s director of corporate finance, William Hinman, in 2018. #Write2Earn He also recalled SEC Chair Gary Gensler’s speech in front of Congress before he was appointed head of the commission. In his remarks, Gensler took a similar position.
Grewal stressed that Ethereum needs to meet the criteria of the Howey test, which defines securities. He pointed to consistency in the asset’s oversight, including its listing on CFTC-regulated futures exchanges starting in 2021. #Write2Earn In light of the established regulations, Grewal urged the SEC not to create unnecessary barriers to approving spot Ethereum ETFs. He emphasized that doubts about ETH’s regulatory status contradict a long-standing precedent and could undermine investor confidence.
Grewal’s comment came in response to the regulator’s decision on March 20 to postpone the verdict on VanEck’s Ethereum ETF application. #Write2Earn The department has extended the review period until May 23 and asked for public comments. Previously, the Commission came to similar conclusions based on similar proposals.
Franklin Templeton, BlackRock, Fidelity, and Invesco with Galaxy are also participating in the race to launch an ETF based on ETH. #Write2Earn
OFAC has sanctioned two Russians involved in a pro-Kremlin influence campaign, while Chainalysis found that at least one of them received funds from crypto exchange Garantex.
The Department of the Treasury’s Office of Foreign Assets Control (OFAC) has imposed sanctions against two Russian individuals for services “they provided the Government of the Russian Federation (GoR) in connection with a foreign malign influence campaign, including attempting to impersonate legitimate media outlets.”
In a press release on Mar. 20, OFAC revealed sanctions against Ilya Andreevich Gambashidze and Nikolai Aleksandrovich Tupikin, associated with Social Design Agency (SDA) and Company Group Structura LLC (Structura) respectively.
The U.S. authorities identified both as key actors in a media campaign focused on impersonating legitimate media outlets. #Write2Earn The sanctions imposed by OFAC entail a freezing of all assets and interests belonging to the designated individuals, with financial institutions warned of potential sanctions if they engage with them. #Write2Earn Following the imposition of sanctions, Chainalysis, a blockchain forensics firm, disclosed that Gambashidze had received more than $200,000 worth of Tether (USDT) on the TRON network, a substantial portion of which came directly from Garantex, a sanctioned Russian crypto exchange. #Write2Earn However, it’s unclear whether Gambashidze used the stablecoin for financing the malign influence campaign.
Garantex was previously sanctioned by OFAC in April 2022, with authorities citing its involvement in facilitating transactions associated with illicit actors and darknet markets, including funds from the Russian Ransomware-as-a-Service gang Conti and the now-defunct Hydra darknet marketplace. #Write2Earn
The Solana blockchain has supplanted Ethereum as the leader in trading volume on decentralized exchanges.
According to DeFiLlama, trading volume on decentralized exchanges (DEX) in Solana increased by 67% in seven days to $21.3 billion. Over the same period, the volume of decentralized exchanges based on Ethereum grew by 3% to $19.4 billion. #Write2Earn Solana (SOL) tested the $200 level this year, while Ethereum (ETH) climbed to the $4,000 level in March amid Bitcoin’s (BTC) rally to a new all-time high.
Solana managed to gain primacy thanks to the hype around Solana-based meme coins Dogwifhat (WIF), Bonk (BONK), Book of Meme (BOME), and Slerf (SLERF). #Write2Earn According to Reflexivity Research, Solana’s volume growth began in the fourth quarter of 2023 due to the proliferation of points and giveaway programs such as Solana DEX Jupiter.
However, the Solana Network faced problems as the demand for meme coins increased dramatically, leading to transaction issues. Users often experienced failed or missing transactions as the Solana network struggled with the influx of activity. #Write2Earn As a result, the Solana Foundation has announced several recommended guidelines for developers to cope with the high load that the network is currently experiencing.
The fund recommended implementing priority commissions and a number of optimizations to avoid transaction loss. #Write2Earn
Robinhood has broadened its cryptocurrency wallet services to Android users, increasing global adoption of digital assets and facilitating easier transactions.
The launch comes a year after Robinhood’s Wallet was made available to iOS users, marking a consistent stride towards enhancing accessibility and integrating cryptocurrencies into everyday transactions for millions worldwide.
The transition from beta to general release allows individuals on the public waitlist to access the Robinhood Wallet on Android devices. #Write2Earn Robinhood Crypto General Manager Johann Kerbrat described the Android launch as a big step in the company’s ongoing efforts to democratize cryptocurrency usage.
The expansion aligns with Robinhood’s recent performance metrics, which revealed a 10% increase in crypto revenue to $43 million in the fourth quarter of 2023 and an 89% surge in notional crypto trading volume compared to the previous quarter. #Write2Earn The platform’s growth has been attributed to heightened customer activity and follows the company’s strategic extension of its crypto trading app to the European Union market.
The Robinhood Wallet, a self-custodial solution introduced last year, has seen increased adoption, with downloads reaching hundreds of thousands globally. #Write2Earn It supports various functionalities, including sending, receiving, and storing cryptocurrencies on major networks such as Ethereum, Bitcoin, Dogecoin, Arbitrum, Polygon, Optimism, and Base.
The wallet facilitates token swaps on Ethereum, Polygon, and Arbitrum through decentralized exchange aggregators such as the 0x API and LI.FI, without imposing service fees on these transactions, though standard blockchain transaction fees are applicable. #Write2Earn
In its latest filing with the U.S. SEC, Grayscale emphasized the potential benefits associated with allowing Ethereum in its trust to be staked.
The firm, known for its cryptocurrency investment products, is seeking to transform its Grayscale Ethereum Trust (ETHE) into an Ethereum (ETH) spot ETF following its successful conversion of its Grayscale Bitcoin Trust in January. #Write2Earn In a preliminary proxy statement, Grayscale proposed four significant changes to facilitate this transformation.
Changes include utilizing the ETH backing shares for participation in staking via a Proof-of-Stake protocol, granting authorized participants the authority to create and redeem shares, moving to a daily fee assessment model from the current monthly scheme, and introducing a third-party custodian equipped to handle shares through an omnibus account.
Omnibus accounts combine funds for executing trades on behalf of multiple clients, effectively anonymizing the identities of individual investors. #Write2Earn Grayscale CEO Michael Sonnenshein conveyed optimism regarding the proposed amendments, emphasizing the potential to streamline and enhance the experience for ETHE shareholders.
The initiative is part of a broader industry trend, as indicated by a similar submission from Fidelity Investments, reflecting increased interest in Ethereum ETFs with staking functionalities. #Write2Earn “In consideration for any staking activity in which the Fund may engage, the Fund would receive certain network rewards of ether tokens, which may be treated as income to the Fund as compensation for services provided,” Fidelity’s filing stated.
Despite these developments, the outlook for the SEC’s approval of spot Ether ETFs remains uncertain. #Write2Earn
Kraken presented its first crypto offering under its recently expanded institutional banner, which aims to deliver digital asset services for larger participants.
Kraken announced its licensed institutional custodial services underpinned by a Wyoming state banking license as the crypto exchange moves to compete with firms like Coinbase for a share of the U.S. virtual asset market. #Write2Earn Head of Kraken Institutional Tim Ogilvie said in a statement that the success of spot Bitcoin (BTC) ETFs in America effectively reignited demand for qualified crypto custody. Eight BTC ETF issuers chose Coinbase to safeguard Bitcoin for the funds.
The latest offering operates under the state-chartered bank Kraken Financial. Wyoming regulators granted the crypto startup a special purpose depository institution permit in 2020, allowing the firm to hold digital assets and run deposit accounts for institutions on a full-reserve basis. #Write2Earn Kraken Custody is a solution that exists separately from the exchange. Funds are remotely segregated, and 24/7 withdrawals are enabled.
Kraken CEO Trevor Rutar remarked that the company can cater to institutional needs thanks to Wyoming’s clear regulatory structure. #Write2Earn The exchange also expands its footprint outside the U.S., particularly in European markets. As crypto.news reported, the Dutch Central Bank granted a virtual asset service provider license to the crypto exchange that Jesse Powell and Thanh Luu co-founded in 2011. #Write2Earn
A government agency is Allegedly investigating the Ethereum Foundation, a non-profit organization in the Ethereum ecosystem.
Information about a possible investigation by an unnamed “government agency” appeared on GitHub on Feb. 26. However, the crypto community found the news a few weeks later.
The original developer comment on GitHub was deleted, as evidenced by the history of code editing.
The scope of the investigation and its focus are unknown at the time of publication. The Ethereum Foundation also did not provide any comments on the investigation. #Write2Earn Earlier on the organization’s website, there was information that the Ethereum Foundation had never contacted any agency anywhere in the world in a way that required non-disclosure of this contact. However, according to changes on GitHub, the paragraph was removed on Feb. 26.
Ethereum ETFs a reason for alleged investigation? Meanwhile, the cryptocurrency community continues to speculate about the reason for the investigation. #Write2Earn X users assume that the alleged investigation may be related to anticipating the launch of Ethereum spot ETFs.
Bloomberg analyst James Seyffart reported earlier that the chances of an Ethereum-based ETF being approved in May have diminished significantly. #Write2Earn According to Seyffart, the lack of constructive interaction between the SEC and Ethereum ETF issuers may result in rejected applications submitted in this round.
The analyst noted that the U.S. SEC needs to be more proactive in dialogue with potential issuers of Ethereum-based ETFs. #Write2Earn
Fidelity, a financial services behemoth, is seeking approval to stake a portion of the Ether held by its proposed spot Ether exchange-traded fund (ETF) in order to offer additional income to clients.
In a 19b-4 amendment submitted to the United States Securities and Exchange Commission on March 18, Fidelity stated that if the ETF is approved, the fund will stake an undisclosed amount of its assets through one or more trusted staking providers.
The document states, “The Sponsor may, from time to time, stake a portion of the Fund’s assets through one or more trusted staking providers, which may include an affiliate of the Sponsor.” Fidelity did not name any specific stake providers. #Write2Earn Several Ether staking solutions are available now, including Lido DAO, RocketPool, and StakeWise. Following the announcement, Lido, the Ethereum network’s staking protocol, surged 9% to $2.64 before dipping back to $2.32. #Write2Earn Fidelity’s move to file for an Ethereum ETF back in November placed it among other potential issuers like BlackRock, Ark Invest, and Grayscale, intensifying the race to launch the first Ethereum ETF.
With the SEC’s final deadline looming on May 23 for all eight ETFs filed by Van Eck, the pressure mounts for approval. #Write2Earn Analysts, including Bloomberg’s ETF expert Eric Balchunas, currently estimate the likelihood of a spot Ether ETF being approved by this deadline at just 35%, citing a lack of precedential signs that were observed before the approval of spot Bitcoin ETFs in January.
Meanwhile, Fidelity’s Wise Origin Bitcoin Fund (FBTC) is already achieving significant success as the fifth most popular ETF, drawing approximately $6.9 billion in investments since its launch in January, the financial giant’s foray into Ethereum ETFs—with the added layer of staking—promises to further cement its position as a leading innovator in the digital asset space. #Write2Earn