$AEVO If you stubbornly hold on to this child, you will get out of the dike early. Looking at last season's mdx, you know where this one is headed. Don't stubbornly hold to die. This season is not like last season. The cash flow is being quietly released quite a bit through atl. Maybe this is still the peak of that atl
🔥 BIG NEWS: SEC has informed Consensys (Ethereum development company) that they are closing the investigation into whether ETH is a security or not ETH is officially a commodity, like BTC and the SEC has no authority whatsoever ETH is officially a commodity, like BTC and the SEC has no authority whatsoever This comes after Consensys sent a letter to the SEC asking that since the SEC has approved the Ethereum Spot ETF, if this means Ethereum is not a security. This means that the SEC no longer views Ethereum as potentially a security and there will be no lawsuits
According to Forbes, Changpeng Zhao's (CZ) assets are currently 61 billion USD, an increase of 28 billion USD compared to April 2024. Almost half of these assets are from BNB.
Even though he is serving a 4-month prison sentence, CZ still controls 90% of Binance shares, worth $33 billion. CZ also holds nearly 94 million BNB, worth $56 billion, accounting for 64% of the circulating supply. (Forbes estimates the actual value of this BNB amount to be about 28 billion USD if CZ sells).
Ripple's general counsel commented on the SEC's letter to Judge Torres complaining of Ripple's lack of cooperation:
The SEC is angry. Ripple defended itself and they interpreted it as “not agreeing at all”. The court clarified that XRP is not a security. There are no “victims” in need of compensation… But at least the SEC seems to have dropped its ridiculous demand for $2 billion [they wanted $102 million to settle the lawsuit, Ripple refused] .
SEC Commissioner Mark Uyeda has praised 'tokenization', arguing that it has the potential to improve the nature of transactions as we know them today.
"Asset tokenization can provide transactions with a higher level of security, transparency and immutability... It can also eliminate the need for most intermediaries, simplifying the process and reduce transaction costs."
This is not surprising, the SEC has 5 commissioners and 2 of them have a pro-crypto stance, and Mark Uyeda is one of them.
SEC Chairman: Ethereum spot ETF will open trading within the next 3 months
During a June 13 hearing at the US Senate Appropriations Committee, Tennessee Senator Bill Hagerty asked Chairman of the US Securities Commission (SEC) Gary Gensler about why the SEC had not approved it. purely Ethereum ETFs.
Mr. Gensler said:
“The approval process is going smoothly after the 19b-4 application was approved. Currently, S-1 filings are in the review stage and the listing of Ethereum spot ETF shares could be completed within the next 3 months.”
While Gensler's answer was not specific, it still reveals the SEC's stance on ETH. The partial approval sees the Ethereum ETF considered in the same way that Bitcoin and ETH ETFs can be considered commodities. The SEC's May 23 announcement also recognized Ethereum ETFs as asset-trading funds of a "commodity" nature, indirectly refuting the "security" argument for ETH. #ETHETFsApproved
NEAR Foundation established Nuffle Labs fund with 13 million USD in funding
According to the latest announcement, NEAR Foundation - the organization that develops Near Protocol (NEAR) - has established a new independent fund called Nuffle Labs and has raised 13 million USD in funding.
Nuffle Labs' funding comes from strategic sponsorship from the NEAR Foundation and an investment led by Electric Capital.
The remaining funds come from Canonical Crypto, Fabric Ventures, Robot Ventures, Caladan, Lyrik Ventures and angel investors including Jordi Alexander (Chief Investment Officer of Selini Capital), Bowen Wang (Chief Technical Officer of NEAR) , Sreeram Kannan (Founder EigenLayer), Sam Kazemian (founder Frax Finance), and Sandeep Nailwal (Co-Founder - Executive Chairman of Polygon Labs).
MicroStrategy proposes selling $500 million worth of convertible bonds to buy more Bitcoin.
The bonds will mature in 2032 and can be converted into cash or shares. The sale of the notes will be conducted pursuant to Rule 144A of the Securities Act of 1933, to qualified institutional investors only.
The bonds will be unsecured debt and interest will be paid twice per year, beginning December 15, 2024.
Initially, the meeting looked like the FED and Powell were very hawkish, but later it showed that there was a change and subsequent rotation of the FED, which the Dot Plot table showed, so to some extent The FED and Powell are not too hawkish, just a little bit hawkish, but the outlook is dovish.
And it is still unclear whether the FED will actually only cut interest rates once this year or not. Investors are predicting that the FED will cut interest rates this September, but if economic data continues to be bad with the labor market softening and inflation falling, who knows, maybe the FED will have another cut next year? end of the year?
Investors will continue to wait for weekly PPI Inflation and Unemployment Benefits data at 7:30 p.m. tonight.
If PPI data decreases and unemployment benefits increase, this will be a good signal for the prospect of interest rate cuts that investors are expecting. => The market increased again. And if it's the other way around then...