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[US SEC Chairman: It is expected that the spot Ethereum ETF S-1 will be approved sometime in the summer]
At a budget hearing on Thursday, SEC Chairman Gary Gensler told senators that he expects the Ethereum spot ETF S-1 to be approved sometime in the summer.
[US SEC Chairman refuses to answer whether ETH is a commodity]
When U.S. Securities and Exchange Commission (SEC) Chairman Gary Gensler was asked directly whether ETH is a commodity during a budget hearing on Thursday, Gensler did not answer yes or no, instead sticking to the agency’s undefined stance on the asset.
Paradigm raises $850 million for its third fund, which will focus on early-stage crypto projects
Paradigm announced that it has raised $850 million for its third fund, which will focus on early-stage crypto projects.
When asked during the same hearing whether ETH was a commodity, Commodity Futures Trading Commission ( CFTC ) Chairman Rostin Behnam responded, “Yes.”
Gary Gensler told senators that final approval for an exchange-traded fund (ETF) to trade Ethereum (ETH) should be completed this summer.
[ JPMorgan Chase : The cryptocurrency market has achieved a net inflow of $12 billion so far this year]
Cryptocurrency markets have seen $12 billion in net inflows so far this year, a figure that could grow to $26 billion by the end of the year if the pace of inflows continues, JPMorgan Chase (JPM) said in a research note on Wednesday.
Spot Bitcoin (BTC) exchange-traded funds (ETFs) led the way, attracting $16 billion in net inflows, the report said. This figure, combined with Chicago Mercantile Exchange (CME) futures flows and funds raised by crypto venture capital funds, brings the total inflows into the digital asset market to $25 billion this year.
JPMorgan said it doubted whether inflows could maintain the same pace for the rest of the year given the high price of bitcoin relative to miners’ production costs or the cost of gold.
[ Curve founder: 93% of bad loan positions have been repaid, proposing to destroy 10% of the total CRV supply to achieve price stability]
Michael Egorov , founder of Curve, said on the X platform: The team and I have been working hard to solve the liquidation risk problem that occurred today. All loans have been liquidated. My position size is too large for the market to handle and has caused 10 million bad debts. Only the CRV market on Curve (with the largest position) is affected. 93% has been repaid and the rest is intended to be repaid soon. It will help users avoid suffering from this situation. I have put forward a proposal for users to vote on whether to destroy 10% of the total CRV supply to achieve token price re-stabilization. Voters will be compensated with 3 months APY on all deposits on the platform.
[ Ripple cites Terraform settlement agreement as basis, saying the SEC's proposed $2 billion financial penalty is "unreasonable"]
Ripple's lawyers said in a "supplemental authorization notice" released Thursday that the SEC's proposed $2 billion financial penalty is unreasonable, and the company compared its fine to the SEC's fine against Terraform Labs. Ripple argued that its fine should be closer to $10 million.
Terraform agreed to pay a $4.47 billion fine on Wednesday, and a judge signed off on the settlement late Thursday.
Ripple’s lawyers said: “The civil penalty sought by the SEC in Terraform demonstrates that the civil penalty sought by the SEC in this case is unreasonable, as Ripple’s opponents explain that in similar (and even more egregious) cases, the SEC has agreed to civil penalties in the range of 0.6% to 1.8% of the defendant’s gross revenues, and Terraform fits that pattern.”
Author: BitpushNews Mary Liu
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