Regulation
Crypto News Today – July 24, 2024
Welcome to “Crypto News Today,” a roundup of stock market and regulatory updates from the cannabis industry.
Spot Ether ETFs saw $1.3 billion in trading volume on their first day, reflecting strong investor interest and confidence in Ether-based financial products. The high volume reflects the growing acceptance of cryptocurrencies in traditional finance, although some analysts predict lower institutional interest compared to Bitcoin ETFs. Read all about it on the TDR website!
- Coinbase has narrowed its demands in its legal battle with the SEC, including asking SEC Chairman Gary Gensler to provide internal messages related to cryptocurrency regulation. The move is aimed at shedding light on the SEC’s stance and actions on digital asset oversight.
- Binance Labs has invested in Pluto Studio, the developer behind the Telegram-based Web3 game Catizen. This investment will help Pluto Studio expand its Catizen mini-app and game engine, onboard more developers, and enhance its platform offerings, reflecting strong support for GameFi and Web3 initiatives.
- The dYdX website was compromised following the announcement of the sale of its derivatives trading software v3. The hack affected the older version of the platform, causing the dYdX token to drop more than 10% since the breach was reported.
- Bitwise has become the first U.S. spot Ethereum ETF issuer to publish Ethereum addresses, improving transparency of its ETHW fund. The move allows investors to verify their holdings and track fund activity on the blockchain, marking a significant step in integrating cryptocurrencies into traditional financial products.
- BlackRock’s BUIDL Fund, the first tokenized treasury fund to surpass $500 million in assets, is participating in MakerDAO’s $1 billion Spark Tokenization Grand Prix. The initiative aims to bring tokenized real-world assets (RWAs) such as U.S. government bonds into the MakerDAO ecosystem, improving transparency and liquidity in the DeFi space.
- According to a recent Europol report, Bitcoin is the most commonly used cryptocurrency by criminals, often converted to stablecoins like Tether for added stability. Monero’s privacy features have also made it popular for illicit activities, as they allow users to hide transaction details and evade law enforcement scrutiny.
Head over to the TDR website to find more cryptocurrency news today!
Bill (William McNarland, CFA) has over 25 years of experience in complementary areas of the financial markets, spanning private equity and credit due diligence, economic and securities research, and corporate finance. He has served on the boards of six different companies and has held trustee and investment review committee positions for regulated investment funds. Having earned nine degrees and designations, with a notable distinction as a Chartered Financial Analyst, Bill is currently pursuing a Master’s degree in Psychology. In addition, he is the published author of seven books, all available on Amazon.