Top 10 News of the Week
1. BlackRock’s spot Bitcoin ETF has achieved 70 consecutive days of net inflowslink
BlackRock is very pleased with the performance of its spot Bitcoin ETF (IBIT). Since its listing in the United States in January this year, IBIT ETF has attracted funds for more than 70 consecutive days, becoming one of the most successful exchange-traded funds in history, with assets under management exceeding US$18 billion. This fund accounts for 24% of the total flow of BlackRock's 1,000 ETFs worldwide.
It is worth noting that on Thursday this week, the total net outflow of Bitcoin spot ETFs was US$218 million, of which Fidelity ETF FBTC had a net outflow of US$22.61 million in a single day, and Valkyrie ETF BRRR had a net outflow of US$20.16 million in a single day. This is the first time that FBTC and BRRR have experienced net outflows.
2. After the Bitcoin halving, the average production cost is about $53,000, and miners may turn to artificial intelligencelink
CoinShares' latest report pointed out that after the Bitcoin halving, miners face a significant increase in costs, with electricity and overall costs almost doubling, and the average Bitcoin production cost is expected to be about $53,000. Mining companies may turn to the field of artificial intelligence and try to reduce costs by optimizing energy costs and mining efficiency, but the potential benefits of investing obsolete computing equipment in the field of AI may be higher. Mining companies such as BitDigital, Hive and Hut 8 have already earned revenue from the AI field.
3. Reuters: SEC expected to reject Ethereum spot ETF applicationlink
U.S. issuers and other companies expect the Securities and Exchange Commission (SEC) to reject their applications for Ethereum spot ETFs after meetings with the SEC in recent weeks, four people familiar with the matter said. The four people involved in the meeting said that recent meetings between issuers and the SEC were very one-sided, and agency staff did not discuss substantive details about the proposed products. This is in stark contrast to the intensive and detailed discussions in the weeks before the SEC approved the Bitcoin spot ETF in January.
However, whale on the chain continue to buy ETH. According to Lookonchain monitoring, Justin Sun address bought another 21,547 ETH (about 67.5 million US dollars) on Thursday. Since April 8, Justin Sun has bought 176,117 ETH (about 559.7 million US dollars) at a price of 3172 US dollars.
4. US presidential candidate Robert Kennedy Jr.: Hopes to put the entire US budget on the blockchainlink
U.S. presidential candidate Robert F. Kennedy Jr. said on Sunday that blockchain technology can play a key role in improving government transparency, calling for a Web3 transformation of the federal budget. Robert Kennedy Jr. said, "I will put the entire U.S. budget on the blockchain so that every American can view every budget item in the entire budget 24 hours a day."
5. Swiss Bitcoin advocates launch referendum to include Bitcoin in national asset reserveslink
Bitcoin advocates in Switzerland have launched a referendum urging the Swiss National Bank (SNB) to include Bitcoin in its national asset reserves. It is reported that the launch of this referendum depends on whether 100,000 valid signatures of Swiss citizens can be obtained. If the required number is reached, Swiss citizens will vote on the proposed amendment. But the whole process may take up to five years.
6. Consensys sues SEC after receiving Wells' notice link
Consensys revealed in the lawsuit that it received a Wells Notice from the SEC on April 10, accusing MetaMask of operating as an unlicensed broker-dealer. Consensys' lawsuit against the SEC and all five of its commissioners states that the SEC should not be allowed to arbitrarily expand its jurisdiction and regulate the future of the Internet by falsely labeling ETH as a security. The company wants a federal court to declare that ETH is not a security and that any investigation of ConsenSys based on the view that ETH is a security "will violate" the company's Fifth Amendment rights and the Administrative Procedure Act.
7. US Department of Justice: Binance founder and former CEO CZ should serve three years in prisonlink
The U.S. Department of Justice said Wednesday that Binance founder and former CEO CZ should serve three years in prison for helping the cryptocurrency exchange violate federal sanctions and money laundering laws. Under the terms of the plea agreement, CZ initially faced up to 18 months in prison. The U.S. Department of Justice argued in Tuesday's filing that "the scope and consequences of CZ's misconduct were enormous," so "an upward variance here is appropriate." CZ's defense filings said that CZ was not aware of, and had never been explicitly informed of, specific transactions involving criminal funds conducted on Binance; CZ was not a risk of reoffending, so he should be sentenced to probation rather than imprisonment.
Afterwards, CZ issued an apology letter, in which he said that necessary compliance controls should be established at Binance, and that he hoped to support biotech startups and young people in the future. In addition to the apology letter, there were 161 other letters of support from family and friends hoping for leniency. These letters of support came from CZ's sister, He Yi, CZ's ex-wife, children, former U.S. Ambassador to China Max S. Baucus, Morgan Stanley Managing Director Sean Yang, and members of the ruling family of the United Arab Emirates.
8. Binance sued in Canada for securities violationslink
Although Binance announced its withdrawal from Canada in May 2023, local authorities continue to investigate the exchange. On April 19, the Ontario Superior Court of Justice issued a motion for certification of a class action lawsuit against Binance, accusing it of selling cryptocurrency derivatives to retail investors without registration. The Ontario Securities Commission (OSC) said the investigation into Binance is still ongoing.
9. Morgan Stanley may allow brokers to recommend clients to buy Bitcoin spot ETF link
Morgan Stanley may allow its 15,000 brokers to advise clients to buy spot Bitcoin ETFs, two executive sources familiar with Morgan Stanley's plans said. The company is currently laying the groundwork for tender purchases, including risk tolerance requirements and restrictions on allocation and trading frequency. But executive sources were unable to provide a timeline for policy changes. Major brokerage firms including Morgan Stanley, Merrill Lynch and Wells Fargo began offering spot Bitcoin ETFs after their initial launch in January, but only for active purchases, and customers need to actively contact their advisors.
10. a16z crypto CTO Eddy Lazzarin slams Memecoin link
a16z crypto CTO Eddy Lazzarin slams Memecoin: Memecoin changed the way the public, regulators, and entrepreneurs think about crypto. At best, it looked like a risky casino. Or a series of false promises masking a casino. This deeply affects adoption, regulation/law, and builder behavior. It may even be a net negative if externalities are factored in. I'm here to build new networks that power a fundamentally more powerful internet. In addition to undermining the long-term vision of crypto that keeps many of us in the space, Memecoin is not technically interesting.
Key financing events
- Movement Labs is building Ethereum L2, and the team has raised $38 million in fundinglink
- Aligned Layer, developed based on EigenLayer, completes $20 million Series A financing link
- BTC Layer2 project BEVM has received investment from Bitmainlink
- Bitcoin Runes Analysis Infrastructure SatScreener Announces $500,000 Pre-Seed Funding Roundlink
- Bitcoin Ecosystem Stablecoin Protocol Lambda Finance Announces Completion of $1.8 Million Angel Round of Fundinglink
- Shiba Inu raises $12 million in token funding to develop Layer 3 link
- InfiniGods, a blockchain game studio, announced the completion of $8 million in Series A funding.
- CARV Completes $10 Million Series A Funding, Led by Tribe Capital and IOSG Ventureslink
- Tevaera announces $5 million funding round led by Laser Digitallink
- Decentralized AI development platform Prime Intellect announces $5.5 million seed round of financinglink
- Wallet developer Turnkey announces $15 million Series A funding roundlink
- Shared security project Othentic completes $4 million seed round of financinglink
- Fintech startup Midas announces $45 million in funding led by Portagelink
- Web3 gaming platform Puffverse announces $3 million in funding led by Animoca Brandslink
- Spotlight Completes $2 Million Pre-Seed Round of Funding, Led by Folius Ventureslink
- Natix Network raises $4.6 million in recent funding roundlink
- Anichess announces $1.8 million in funding round led by Sfermion and Amber Grouplink
- Web3 social protocol PairedWorld announces $1.5 million in fundinglink
- BTC Layer2 project BEVM has received investment from Bitmainlink
For more industry funding events, please visit crypto-fundraising.info .
