Why It Matters Whether the CFTC Versus the SEC Regulates Crypto

source https://www.coindesk.com/opinion/2024/05/30/why-it-matters-whether-the-cftc-versus-the-sec-regulates-crypto/?utm_medium=referral&utm_source=rss&utm_campaign=headlines

TradFi Rushes In: Goldman Sachs Digital Assets Lead Matthew McDermott on the Institutional Embrace of Tokenization

The financial industry veteran discusses ETFs, tokenization and future banking blockchain opportunities at Consensus 2024.

source https://www.coindesk.com/business/2024/05/29/tradfi-rushes-in-goldman-sachs-digital-assets-lead-matthew-mcdermott-on-the-institutional-embrace-of-tokenization/?utm_medium=referral&utm_source=rss&utm_campaign=headlines

Ripple Donates Another $25M to Crypto Super PAC Fairshake

Ripple has added another $25 million to the coffers of Fairshake, a federal crypto super political action committee (PAC) that’s spending big this election year to support crypto-friendly Congressional candidates.

source https://www.coindesk.com/policy/2024/05/29/ripple-donates-another-25m-to-crypto-super-pac-fairshake/?utm_medium=referral&utm_source=rss&utm_campaign=headlines

BlackRock Takes the Crown for the Largest Spot Bitcoin ETF From Grayscale

Inflows to IBIT have picked up recently after a dismal few weeks at the end of April. BlackRock now holds the ETF in two of its major funds.

source https://www.coindesk.com/markets/2024/05/29/blackrock-takes-the-crown-for-the-largest-spot-bitcoin-etf-from-grayscale/?utm_medium=referral&utm_source=rss&utm_campaign=headlines

Solana Validators to Get More SOL as Fee Proposal Passes in Favor

Over 77% of Solana governance participants voted in favor of giving validators the full priority fee amount per transaction.

source https://www.coindesk.com/tech/2024/05/28/solana-validators-to-get-more-sol-as-fee-proposal-passes-in-favor/?utm_medium=referral&utm_source=rss&utm_campaign=headlines

Alan Howard-Backed Elwood Technologies in Talks to Sell Part of the Business: Sources

Elwood is focusing on its existing portfolio management and risk management services, and less on the trading side, one source said.

source https://www.coindesk.com/business/2024/05/28/alan-howard-backed-elwood-technologies-in-talks-to-sell-part-of-the-business-sources/?utm_medium=referral&utm_source=rss&utm_campaign=headlines

Caitlyn Jenner Meme Coin Sows Confusion as Observers Question Its Provenance

JENNER tokens scored over $100 million in trading volumes less than 24 hours after going live. But punters are unclear if it's indeed related to the real Caitlyn Jenner.

source https://www.coindesk.com/markets/2024/05/27/caitlyn-jenner-meme-coin-sows-confusion-as-observers-question-its-provenance/?utm_medium=referral&utm_source=rss&utm_campaign=headlines

Ethereum Meme Coins PEPE, MOG Hit Lifetime Highs on Ether ETF Filing Approvals

Ether surged more than bitcoin over the weekend on renewed optimism for the second-largest cryptocurrency.

source https://www.coindesk.com/markets/2024/05/27/ethereum-meme-coins-pepe-mog-hit-lifetime-highs-on-ether-etf-filing-approvals/?utm_medium=referral&utm_source=rss&utm_campaign=headlines

Normie Dumps 99% as Attacker Calls Meme Coin’s Tax Contract a 'Copy-Paste' Job

Attackers exploited a tax function in the token’s code that allowed them to issue more tokens and completely drain liquidity pools.

source https://www.coindesk.com/markets/2024/05/27/normie-dumps-99-as-attacker-calls-meme-coins-tax-contract-a-copy-paste-job/?utm_medium=referral&utm_source=rss&utm_campaign=headlines

Trump Posts 'Our Country Must be the Leader in the (Crypto) Field' Prior to Speech Before Libertarians

source https://www.coindesk.com/policy/2024/05/25/trump-posts-our-country-must-be-the-leader-in-the-crypto-field-before-address-at-libertarian-convention/?utm_medium=referral&utm_source=rss&utm_campaign=headlines

3 Questions About the SEC’s Abrupt ETH ETF Approval

Was the decision politically motivated? What does it mean for Ethereum going forward? Will other leading chains benefit too?

source https://www.coindesk.com/opinion/2024/05/24/3-questions-about-the-secs-abrupt-eth-etf-approval/?utm_medium=referral&utm_source=rss&utm_campaign=headlines

U.S. House Passes Bill Banning Federal Reserve From Issuing a CBDC

source https://www.coindesk.com/policy/2024/05/23/us-house-passes-bill-banning-federal-reserve-from-issuing-a-cbdc/?utm_medium=referral&utm_source=rss&utm_campaign=headlines

SEC's Gensler Going Rogue in Solo Quest to Stop U.S. Crypto Legislation?

The White House is "eager" to work on a crypto bill. That was the sentiment of its latest statement on Wednesday, putting the administration on-the-record again about wanting new digital assets policies to protect investors. But U.S. Securities and Exchange Commission (SEC) Chair Gary Gensler – the securities watchdog President Joe Biden hired as a member of his transition team and a key regulator – says don't bother.

source https://www.coindesk.com/policy/2024/05/22/secs-gensler-going-rogue-in-solo-quest-to-stop-us-crypto-legislation/?utm_medium=referral&utm_source=rss&utm_campaign=headlines

Several U.S. House Democrats Petition Colleagues to Join Yes Side on Crypto Bill

The U.S. House of Representatives is on the verge of a vote on Wednesday that is widely expected to approve comprehensive cryptocurrency legislation with bipartisan support – a major milestone for the industry – and several Democrats there are pushing their colleagues to vote yes.

source https://www.coindesk.com/policy/2024/05/21/several-us-house-democrats-petition-colleagues-to-join-yes-side-on-crypto-bill/?utm_medium=referral&utm_source=rss&utm_campaign=headlines

CFTC Commissioner Summer Mersinger on Overzealous Crypto Regulation and the Need for Legislative Action

The commodities regulator has been clear about the dangers of regulating a burgeoning industry through enforcement actions.

source https://www.coindesk.com/consensus-magazine/2024/05/21/cftc-commissioner-summer-mersinger-on-overzealous-crypto-regulation-and-the-need-for-legislative-action/?utm_medium=referral&utm_source=rss&utm_campaign=headlines

Ether ETFs Filing Process Sees Abrupt Progress, Though Approval Not Guaranteed: Sources

source https://www.coindesk.com/policy/2024/05/20/ether-etfs-filing-process-sees-abrupt-progress-though-approval-not-guaranteed-sources/?utm_medium=referral&utm_source=rss&utm_campaign=headlines

Ether Jumps 10% to $3.4K After Bloomberg Ups Odds of Spot ETF Approval

Markets previously had mostly priced in SEC rejections of the proposed funds beginning this week.

source https://www.coindesk.com/markets/2024/05/20/ether-jumps-10-to-34k-after-bloomberg-ups-odds-of-spot-etf-approval/?utm_medium=referral&utm_source=rss&utm_campaign=headlines

Craig Wright Lied to UK Court 'Extensively and Repeatedly,' Judge Writes

Judge James Mellor released his written judgement on the Crypto Open Patent Alliance vs Craig Wright case on Monday.

source https://www.coindesk.com/policy/2024/05/20/craig-wright-lied-to-uk-court-extensively-and-repeatedly-judge-writes/?utm_medium=referral&utm_source=rss&utm_campaign=headlines

Research Firm Favors Bitcoin 'Covered Strangle' Strategy to Enhance Portfolio Yield by 17%

Our favorite strategy is to buy Bitcoin Spot, Sell 100,000 strike call, and Sell 50,000 strike put for the December 2024 expiry, 10x research said in a note.

source https://www.coindesk.com/markets/2024/05/20/research-firm-favors-bitcoin-covered-strangle-strategy-to-enhance-portfolio-yield-by-17/?utm_medium=referral&utm_source=rss&utm_campaign=headlines

Genesis Set to Return $3B Customer Assets in Finalized Bankruptcy Liquidation Plan

Bankruptcy claims began trading at 35% of account balance value when they were initially listed on claim trading marketplace Xclaim

source https://www.coindesk.com/markets/2024/05/20/genesis-set-to-return-3b-customer-assets-in-finalized-bankruptcy-liquidation-plan/?utm_medium=referral&utm_source=rss&utm_campaign=headlines

Steven Cohen's Point72 Also an Owner of Bitcoin Via Spot ETFs

Point72, the $34 billion hedge fund of billionaire and owner of the New York Mets, Steven Cohen, held $77.5 million of the Fidelity Wise Origin Bitcoin Fund (FBTC) as of the close of the first quarter, according to a filing.

source https://www.coindesk.com/markets/2024/05/17/steven-cohens-point72-also-an-owner-of-bitcoin-via-spot-etfs/?utm_medium=referral&utm_source=rss&utm_campaign=headlines

Miners Eye Middle East as Next Region for Growth

The halving and a possible U.S. mining tax have miners considering new locations for basing their cost-sensitive operations.

source https://www.coindesk.com/consensus-magazine/2024/05/17/miners-eye-middle-east-as-next-region-for-growth/?utm_medium=referral&utm_source=rss&utm_campaign=headlines

LocalMonero Shutdown Is Another Blow for Privacy Tech

It is getting harder to buy XMR, but every day that monero continues to exist is proof positive of its value, says CoinDesk's Dan Kuhn.

source https://www.coindesk.com/opinion/2024/05/16/localmonero-shutdown-is-another-blow-for-privacy-tech/?utm_medium=referral&utm_source=rss&utm_campaign=headlines

DTCC, Chainlink Complete Pilot to Accelerate Fund Tokenization with JPMorgan, Templeton, BNY Mellon Participating

The aim of the Smart NAV pilot was to test a process to bring and disseminate fund data on multiple blockchains, a key step for tokenization.

source https://www.coindesk.com/business/2024/05/16/dtcc-chainlink-complete-pilot-to-accelerate-fund-tokenization-with-jpmorgan-templeton-bny-mellon-participating/?utm_medium=referral&utm_source=rss&utm_campaign=headlines

Sweeping ‘Bitcoin Rights’ Bill Becomes Law in Oklahoma

source https://www.coindesk.com/policy/2024/05/15/sweeping-bitcoin-rights-bill-becomes-law-in-oklahoma/?utm_medium=referral&utm_source=rss&utm_campaign=headlines

The Protocol: Lido Backers vs EigenLayer

In this week's issue, we've got the scoop on a new possible rival to restaking pioneer EigenLayer. PLUS Are meme coins an investable asset class? With the latest Runes data and $70M of project fundraisings.

source https://www.coindesk.com/tech/2024/05/15/the-protocol-lido-backers-vs-eigenlayer/?utm_medium=referral&utm_source=rss&utm_campaign=headlines

Insider at Solana's Cypher Protocol Admits to Stealing $300K

Core contributor Hoak blamed his actions on a "crippling gambling addiction."

source https://www.coindesk.com/business/2024/05/14/insider-at-solanas-cypher-protocol-admits-to-stealing-300k/?utm_medium=referral&utm_source=rss&utm_campaign=headlines

The Hard Truths and Worrying Consequences of the Tornado Cash Verdict

source https://www.coindesk.com/opinion/2024/05/14/the-hard-truths-and-worrying-consequences-of-the-tornado-cash-verdict/?utm_medium=referral&utm_source=rss&utm_campaign=headlines

Vitalik Buterin's Ethereum Wallet Proposal, Scribbled in 22 Minutes, Gets Positive Reviews

After a technical proposal to improve Ethereum wallets met with some opposition, a familiar figure swooped in last week to devise an alternative.

source https://www.coindesk.com/tech/2024/05/14/vitalik-buterins-ethereum-wallet-proposal-scribbled-in-22-minutes-gets-positive-reviews/?utm_medium=referral&utm_source=rss&utm_campaign=headlines

The Crypto Industry’s Influence on U.S. Elections is Bigger Than Ever, Industry Insiders Say

The crypto industry is throwing its weight around in Washington in hopes of influencing the upcoming U.S. elections, spending an unprecedented amount of money to get crypto-friendly candidates elected and educate lawmakers – all in hopes of finally getting a friendly regulatory framework for crypto established.

source https://www.coindesk.com/policy/2024/05/14/the-crypto-industrys-influence-on-us-elections-is-bigger-than-ever-industry-insiders-say/?utm_medium=referral&utm_source=rss&utm_campaign=headlines

FalconX Settles With CFTC for $1.8M Over Failure to Register as Futures Commission Merchant

FalconX will pay $1.8 million to settle newly-announced charges from the Commodity Futures Trading Commission (CFTC) that the crypto trading firm violated commodities laws by failing to register as a futures commission merchant (FCM), according to a Monday announcement from the regulator.

source https://www.coindesk.com/policy/2024/05/13/falconx-settles-with-cftc-for-18m-over-failure-to-register-as-futures-commission-merchant/?utm_medium=referral&utm_source=rss&utm_campaign=headlines

Hong Kong Bitcoin and Ether ETFs See $39M Outflows on Monday: Farside Investors

Previous outflows hovered around the $6 million mark, signaling a significant uptick in negative flows on Monday.

source https://www.coindesk.com/markets/2024/05/13/hong-kong-bitcoin-and-ether-etfs-see-39m-outflows-on-monday-farside-investors/?utm_medium=referral&utm_source=rss&utm_campaign=headlines

Cautious Bitcoin Bounce to Face Inflation Data Hurdles Later This Week

The downtrend in inflation has stalled so far this year, putting in doubt the odds for any Fed rate cuts in 2024.

source https://www.coindesk.com/markets/2024/05/13/cautious-bitcoin-bounce-to-face-inflation-data-hurdles-later-this-week/?utm_medium=referral&utm_source=rss&utm_campaign=headlines

Stablecoin Expansion Stalls Ahead of U.S. Inflation Data

Wednesday's U.S. CPI data is expected to show the cost of living likely increased 3.4% over the year in April, a moderation from March's 3.5%.

source https://www.coindesk.com/markets/2024/05/13/stablecoin-expansion-stalls-ahead-of-us-inflation-data/?utm_medium=referral&utm_source=rss&utm_campaign=headlines

Bitcoin Is In a 'Bore You to Death' Phase, but Bottom Could Be Close, Analysts Say

The current boring crypto market could last between one to six months, and the sentiment will be the most negative right before the turnaround, one hedge fund manager said.

source https://www.coindesk.com/markets/2024/05/10/bitcoin-is-in-a-bore-you-to-death-phase-but-bottom-could-be-close-analysts-say/?utm_medium=referral&utm_source=rss&utm_campaign=headlines

Was Sam Bankman-Fried Proven Right About FTX’s Solvency?

No.

source https://www.coindesk.com/opinion/2024/05/10/was-sam-bankman-fried-proven-right-about-ftxs-solvency/?utm_medium=referral&utm_source=rss&utm_campaign=headlines

DOJ Said to Snub Sullivan & Cromwell, Appoint Competitor to Coveted Binance Monitorship: Bloomberg

The Department of Justice (DOJ) has chosen a London-based consulting firm for a coveted three-year monitorship of Binance, according to a Friday report from Bloomberg citing anonymous sources.

source https://www.coindesk.com/policy/2024/05/10/doj-said-to-snub-sullivan-cromwell-appoint-competitor-to-coveted-binance-monitorship-bloomberg/?utm_medium=referral&utm_source=rss&utm_campaign=headlines

Bitcoin Miner Marathon Digital Misses Q1 Revenue Expectation On Operational Challenges

TK

source https://www.coindesk.com/business/2024/05/09/bitcoin-miner-marathon-digital-misses-q1-revenue-expectation-on-operational-challenges/?utm_medium=referral&utm_source=rss&utm_campaign=headlines

Will Biden Get the Final Say Over a Controversial Crypto Accounting Rule?

Critics of SAB 121, introduced in March 2022, have called the rule “obscure,” a “diktat” and a “pernicious weed.”

source https://www.coindesk.com/opinion/2024/05/09/will-biden-get-the-final-say-over-a-controversial-crypto-accounting-rule/?utm_medium=referral&utm_source=rss&utm_campaign=headlines

WisdomTree’s Crypto Business Goes Live in New York Against Big Shareholder's Wishes

WisdomTree’s digital asset app on Thursday became available to customers in New York, even as CEO Jonathan Steinberg is under pressure from shareholders as a result of the investment company's push into decentralized finance.

source https://www.coindesk.com/business/2024/05/09/wisdomtrees-crypto-business-goes-live-in-new-york-against-big-shareholders-wishes/?utm_medium=referral&utm_source=rss&utm_campaign=headlines

Robinhood's Q1 Crypto Trading Volume Surged 224% as SEC Action Looms

The popular trading platform also beat first quarter revenue and earnings estimates.

source https://www.coindesk.com/business/2024/05/08/robinhoods-q1-crypto-trading-volume-surged-224-as-sec-action-looms/?utm_medium=referral&utm_source=rss&utm_campaign=headlines

Crypto Is an Election Issue This Year. Is That a Good Thing?

A new DCG-funded survey found one-in-five voters think crypto is a key issue in U.S. elections this November.

source https://www.coindesk.com/consensus-magazine/2024/05/08/crypto-is-an-election-issue-this-year-is-that-a-good-thing/?utm_medium=referral&utm_source=rss&utm_campaign=headlines

Nearly All FTX Creditors Will Get 118% of Their Funds Back in Cash, Estate Says in New Plan

Bankrupt cryptocurrency exchange FTX has proposed a new reorganization plan that would see a whopping 98% of its creditors get back 118% of their claims – in cash – within 60 days of court approval, according to new documents filed Tuesday evening.

source https://www.coindesk.com/policy/2024/05/08/nearly-all-ftx-creditors-will-get-118-of-their-funds-back-in-cash-estate-says-in-new-plan/?utm_medium=referral&utm_source=rss&utm_campaign=headlines

Crypto Trading Firm Wintermute to Provide Liquidity for Hong Kong Bitcoin and Ether ETFs

Looking to strengthen its market share in the Asia region, Wintermute will become a liquidity provider to the recently launched Hong Kong-listed spot bitcoin and ether exchange-traded funds.

source https://www.coindesk.com/business/2024/05/08/crypto-trading-firm-wintermute-to-provide-liquidity-for-hong-kong-bitcoin-ether-etfs/?utm_medium=referral&utm_source=rss&utm_campaign=headlines

BlackRock, Ondo, Superstate: The Biggest Movers in the RWA Sector in Q1

Catching up on the biggest news from the real-world asset space.

source https://www.coindesk.com/consensus-magazine/2024/05/07/blackrock-ondo-superstate-the-biggest-movers-in-the-rwa-sector-in-q1/?utm_medium=referral&utm_source=rss&utm_campaign=headlines

MoMA’s Madeleine Pierpont: NFTs Are Already a Part of Art History

source https://www.coindesk.com/consensus-magazine/2024/05/07/momas-madeleine-pierpont-nfts-are-already-a-part-of-art-history/?utm_medium=referral&utm_source=rss&utm_campaign=headlines

Elon Musk Will Likely Remain Tesla CEO, and Tweet Non-Stop: Prediction Markets

Also: Trump faces likely conviction, per Polymarket punters; CFTC hearing to discuss political betting ban.

source https://www.coindesk.com/markets/2024/05/06/elon-musk-will-likely-remain-tesla-ceo-and-tweet-non-stop-prediction-markets/?utm_medium=referral&utm_source=rss&utm_campaign=headlines

First Mover Americas: Bitcoin Nears $65,000 Amid Strong Crypto Rebound

The latest price moves in bitcoin (BTC) and crypto markets in context for May 6, 2024. First Mover is CoinDesk’s daily newsletter that contextualizes the latest actions in the crypto markets.

source https://www.coindesk.com/markets/2024/05/06/first-mover-americas-bitcoin-nears-65000-amid-strong-crypto-rebound/?utm_medium=referral&utm_source=rss&utm_campaign=headlines

Australian Court Hands Win to Market Regulator in Case Against Qoin Blockchain, But There is a Catch

An Australian Federal Court mostly ruled in favor of Australia's markets regulator in its case against BPS Financial Pty Ltd (BPS) over its Qoin scheme, on Friday.

source https://www.coindesk.com/policy/2024/05/06/australian-court-hands-win-to-market-regulator-in-case-against-qoin-blockchain-but-there-is-a-catch/?utm_medium=referral&utm_source=rss&utm_campaign=headlines

BTC-e Operator Alexander Vinnik Pleads Guilty to Money Laundering Conspiracy Charge

Alexander Vinnick, the Russian national who was one of BTC-e's operators, pled guilty to conspiracy to commit money laundering for his role with the crypto exchange.

source https://www.coindesk.com/policy/2024/05/03/btc-e-operator-alexander-vinnik-pleads-guilty-to-money-laundering-conspiracy-charge/?utm_medium=referral&utm_source=rss&utm_campaign=headlines

Full Transcript: Why MoonPay and PayPal Partnered to Expand Crypto Adoption in the U.S.

MoonPay co-founder and CEO Ivan Soto-Wright joins CDTV's "First Mover" to discuss MoonPay's recent partnership with PayPal.

source https://www.coindesk.com/business/2024/05/03/full-transcript-why-moonpay-and-paypal-partnered-to-expand-crypto-adoption-in-the-us/?utm_medium=referral&utm_source=rss&utm_campaign=headlines

Kraken's Indices Provider Anticipates $1B AUM in Hong Kong ETFs by 2024 End: Bloomberg

CEO Sui Chung sees South Korea and Israel as the next markets to list crypto ETFs.

source https://www.coindesk.com/markets/2024/05/03/krakens-indices-provider-anticipates-1b-aum-in-hong-kong-etfs-by-2024-end-bloomberg/?utm_medium=referral&utm_source=rss&utm_campaign=headlines

Friend.Tech's Native Token Tanks to $2.5 After Debut

Early Friday, Friend.Tech airdropped its native token, FRIEND, while debuting version 2 of the platform.

source https://www.coindesk.com/markets/2024/05/03/friendtechs-native-token-tanks-to-25-after-debut/?utm_medium=referral&utm_source=rss&utm_campaign=headlines

Tether Enters Transaction Surveillance Partnership with Chainalysis as Regulatory Pressure Mounts

The monitoring system would help Tether identify risky crypto addresses that could be used for bypassing sanctions or illicit activities like terrorist financing, the company said.

source https://www.coindesk.com/policy/2024/05/02/tether-enters-transaction-surveillance-partnership-with-chainalysis-as-regulatory-pressure-mounts/?utm_medium=referral&utm_source=rss&utm_campaign=headlines

Former FTX Europe Head Pays $1.5M for Gold Watch Recovered From Titanic: WSJ

Patrick Gruhn, the former head of FTX Europe, has paid nearly $1.5 million for a gold pocket watch recovered from the body of the Titanic’s richest passenger, The Wall Street Journal has reported.

source https://www.coindesk.com/business/2024/05/02/former-ftx-europe-head-pays-15m-for-gold-watch-recovered-from-titanic-wsj/?utm_medium=referral&utm_source=rss&utm_campaign=headlines

CZ’s Trial Proves it Pays to Cooperate

His four-month sentence was vindication for the Binance founder’s legal strategy.

source https://www.coindesk.com/consensus-magazine/2024/05/02/czs-trial-proves-it-pays-to-cooperate/?utm_medium=referral&utm_source=rss&utm_campaign=headlines