#RFK Jr.’s Blockchain Idea, Ethereum ETF Approval
#Trending pected to deny spot Ethereum ETF approval. Here’s crypto.news’ weekly recap.
RFK Jr. opines about blockchain
During an April 21 rally in Michigan, U.S. presidential candidate Robert F. Kennedy Jr. said that putting the U.S. budget on the blockchain would allow Americans to access any budget item at any time.
Integrating the budget with blockchain technology will significantly increase transparency, he says, adding, “If somebody is spending $16,000 for a toilet seat, everybody’s going to know about it.”
If the proposal comes to fruition, American taxpayers would be able to track where funds are being spent. The idea was well-received by some corners of the cryptocurrency community, with some claiming it would end corruption.
Standard Chartered doubles down
Geoff Kendrick, head of digital assets research at Standard Chartered, remains confident about the market’s capacity to recover by reiterating Standard Chartered’s statement from last month with a price prediction of $150,000 by year’s end.
A skeptical take: Bitcoin’s halving won’t spark a lasting bull run over the next 12 to 18 months, according to analysts at Paris-based Kaiko. Contrary to earlier expectations, the decrease in miners’ rewards from 6.25 BTC to 3.125 BTC may not serve as the primary catalyst for Bitcoin‘s growth, according to a recent research report.
Miners are also losing money. According to data provided by YCharts, the average transaction fee on the Bitcoin network declined by 28% to about $24.99 between April 22 and April 23.
Spot Ethereum ETF prospects
The U.S. Securities and Exchange Commission (SEC) announced a delay in its decision on the application, extending the review period by an additional 45 days to June 11.
Industry heavyweights, including BlackRock, Grayscale, VanEck, Franklin Templeton and ARK Invest, are contenders in the race to secure approval for their own spot in Ether ETFs.
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