"SEC sues Consensys, MiCA begins work 📉

Last week was full of regulatory news. The US SEC has sued Consensys over its staking and wallet services on MetaMask. The proceedings began shortly after the SEC closed its investigation into Ethereum 2.0.

Bitcoin ETFs show positive changes

Last week, Bitcoin ETFs entered their third week of network outflows, recording $174.5 million worth of negative network flows on June 24th. However, there was a positive turn on June 25 when Bitcoin ETFs recorded their first network inflow of the week, amounting to $31 million.

VanEck Files for First US Solana ETF

VanEck capitalized on the current social ETF trend and filed for the first US ETF, Solana, with the US SEC last week. Following news of the filing, Solana jumped 8%, bucking the market trend.

Increase in fraud

Reports last week confirmed the rise in fraud in the industry. Bitget reported that deepfake scams increased by 245% in 2024 due to the advent of AI. These scams have resulted in losses of more than $79.1 billion since 2022."