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CoinShares reported that net flows for spot Bitcoin ETFs were negative for the second consecutive day, attributed to heightened outflows from Grayscale and diminished demand for new US ETFs.

CoinShares reported that net flows for spot Bitcoin ETFs were negative for the second consecutive day, attributed to heightened outflows from Grayscale and diminished demand for new US ETFs.

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Many are calling for the removal of Gary Gensler as SEC Chair. Here is what could happen: ⚫Impeachment is required (proposal, trial, and conviction) to remove Gentler as Chair ⚫US President has the power to name another commissioner as Chair ⚫If impeached, the SEC can still function with less than five commissioners ⚫The impeached Chair may no longer serve as commissioner since they are removed from office
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FTX settled $24bn tax claim with Internal Revenue Service (IRS) in bankruptcy court. The IRS will receive a $200m claim in FTX’s bankruptcy to be paid within 60 days of when the company’s proposed restructuring plan goes into effect. The IRS will also receive a $685m lower priority claim to be paid after customers and creditors. The settlement clears a significant hurdle in FTX’s bankruptcy, resolving what could have been protracted and unpredictable litigation between the fallen crypto exchange and its largest creditor.
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Since March, over 500K new tokens have been minted on the Base network. This includes 240K in April and 177K in May.
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Tether has agreed to purchase up to $150m worth of shares in Bitcoin miner Bitdeer, which is led by Jihan Wu. The agreement also includes a warrant to purchase an additional 5m shares at $10 apiece, which will provide an additional $50m if fully exercised. Bitdeer intends to use the proceeds to fund its data center expansion and ASIC-based mining rig development.
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RFK Jr. latest to vow end to US crypto ‘hostility’ “Truly decentralized currencies should be encouraged, and we should be encouraging the flow of capital into those currencies. I’m going to do that as president”
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