Bitpush editor selects Web3 news for you every day:
[Source: SEC requires spot Ethereum ETF issuers to submit the first round of S-1 form draft before Friday]
Two sources told The Block that the SEC requires potential spot Ethereum ETF issuers to submit a first draft of the S-1 form by Friday, after which the SEC will provide a first round of comments and eventually make further revisions. It may take several weeks for the S-1 form to become effective and begin trading.
Bitpush previously reported that on the day the Ethereum ETF 19b-4 filing was approved, VanEck immediately submitted a revised version of its S-1 form. On May 30, BlackRock followed suit, detailing that its ETF would use $10 million as seed funding.
[ Musk : I have never discussed cryptocurrency with Trump; cryptocurrency can transfer power from the government to the people]
In response to Bloomberg's article about Musk discussing cryptocurrency with Trump, Musk responded on the X platform: "I'm pretty sure I've never discussed cryptocurrency with Trump, although I generally support transferring power from the government to the people, and cryptocurrency can do that."
[ The US jury announced that Trump was convicted of 34 felony charges in the "hush money" case]
On May 30th local time, the jury members responsible for the "hush money" case of former US President Trump made a verdict, declaring that Trump was guilty of all 34 felony charges of falsifying business records in this case, making him the first former US president to be convicted.
New York prosecutors allege that during Trump's 2016 presidential campaign, Cohen paid $130,000 to porn star Stephanie Clifford to keep her quiet, lest the latter's claim of a sex scandal with Trump in 2006 affect her election prospects. Trump subsequently falsified business records and returned Cohen's advance payment in installments under the name of "lawyer fees" to cover up his violations of New York and federal election regulations. According to previous reports, the jury must make a unanimous decision in this case.
[Montenegro High Court will make another decision on Do Kwon ’s extradition]
According to local media Vijesti, Do Kwon's evolving extradition case is being sent back to the Montenegro High Court, which will determine whether the extradition policy established between the United States and the Kingdom of Serbia in 1901 still applies.
Do Kwon, currently under house arrest in Podgorica, was arrested in March 2023 while trying to flee to Dubai and has been in a constant state of limbo, moved back and forth between prisons, immigration camps and random residences in Montenegro, and decisions on whether to extradite him have been overturned multiple times.
Earlier news said that Terraform Labs and its founder Do Kwon had reached a preliminary settlement with the US SEC regarding the fraud case.
[Wall Street Journal: SBF is returning to the New York prison he left a week ago]
Federal prison officials have transferred FTX co-founder Sam Bankman-Fried (SBF) to a prison in Pennsylvania, the Wall Street Journal reports, suggesting that SBF may be returning to the New York prison he left last week.
Documents show SBF is being held at the Federal Correctional Institution in Lewisburg, Pennsylvania, and earlier this week, the Federal Bureau of Prisons website showed he was being held at a transit station in Oklahoma that often holds federal prisoners being transferred across the country.
SBF's transfer back to the eastern United States may indicate that prison officials are sending him back to New York after a federal judge recommended that he be allowed to remain at the Metropolitan Detention Facility in Brooklyn to prepare an appeal with his lawyers, the report said.
A spokesperson for Bankman-Fried declined to comment, and a spokesperson for the Federal Bureau of Prisons confirmed that the FTX founder is currently in Pennsylvania but declined to comment on his final destination.
[ JPMorgan Chase : Ethereum spot ETF demand will be much lower than Bitcoin]
JPMorgan Chase pointed out in a report that the demand for Ethereum spot ETFs will be much lower than that for Bitcoin spot ETFs. JPMorgan Chase said it expects spot Ethereum ETFs to attract up to $3 billion in net inflows for the rest of the year. If staking is allowed, this figure could be as high as $6 billion.
“Bitcoin has a first-mover advantage and has the potential to satisfy overall demand for crypto assets once spot ETFs are approved,” wrote analysts led by Nikolaos Panigirtzoglou. Ethereum, as an application token, “has a different value proposition for investors than Bitcoin, which competes with gold in portfolio allocation and has broader appeal,” the analysts wrote.
Author: BitpushNews Mary Liu
Twitter: https://twitter.com/BitpushNews
BitPush TG Exchange Group: https://t.me/BitPushCommunity
Bitpush TG subscription: https://t.me/bitpush
Btok subscription: https://btok360.com/bitpush
