Crypto Roundup: What's Happening in the Market Today? 💹

Here's what's buzzing in the crypto world on April 25, 2024:

1. SEC Expected to Deny Spot Ether ETFs 🚫

The U.S. Securities and Exchange Commission (SEC) is set to reject spot Ether (ETH) exchange-traded funds (ETFs) in May. This comes after several discussions with regulators, suggesting that approval might not happen until late 2024 or beyond. 🌧️ Some say the regulatory environment is still too murky, leaving the crypto market wondering what's next

2. BlackRock's Hedera Connection Clarification Crashes HBAR 📉

BlackRock clarified that it has no connection with Hedera, leading to a massive 30% drop in Hedera's token (HBAR). This correction came after rumors swirled that BlackRock was involved in tokenizing its $22 billion money market fund on the Hedera network, which turned out to be false. The misunderstanding caused HBAR to crash after it spiked more than 100% earlier in the week.

3. Bitcoin Mining Profits Squeezed Post-Halving 🪙

Bitcoin miners are dealing with lower revenues after the halving event. The hash price dropped from nearly 12 cents in early April to just 7 cents post-halving. This means less revenue for miners and potentially tough times ahead, even though overall market conditions seem stable. The long-term impact is still uncertain, but the crypto world is watching closely.
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