Top Crypto News This Week
Hello, crypto fans! 😃
Excited to explore the coolest stuff happening in crypto this week? Get ready for a fun ride through the latest and greatest in the crypto world! 👇
🔵Weekly Highlights
Bitcoin Spot ETF Sees $887 Million Net Inflows on June 4, Sustains 17-Day Inflow Streak (June 4)
Investors poured $28.195 million into Grayscale’s GBTC ETF, while Fidelity’s FBTC and BlackRock’s IBIT attracted $379 million and $274 million, respectively. BlackRock’s IBIT managed $20.82 billion assets, surpassing Grayscale.
SEC Chair Gary Gensler: Approval of ETH ETF Will “Take Some Time” (June 4)
SEC Chairman Gary Gensler hinted at a gradual approach to approving an ETH ETF, citing the intricate S-1 approval process. He expressed concern over crypto exchanges’ practices, suggesting they wouldn’t meet traditional exchange standards.
Tokenized Treasury Market Cap Rises to $1.44 Billion, Doubling in Growth
The market value of tokenized bonds doubled to $1.44 billion since the year’s start. Notably, BlackRock’s BUIDL emerged as the largest with a $456 million market value, followed by Franklin’s FOBXX at $348 million.
European Central Bank Lowers Interest Rates by 25 Basis Points (June 6)
In response to eurozone inflationary pressures, the ECB cut interest rates by 25 basis points, marking the first such move since 2019. Revised inflation forecasts anticipate rates staying above 2% into 2025.
Bank of Canada Cuts Rates by 25 Basis Points to 4.75% (June 5)
The Bank of Canada announced a 25-basis-point rate cut, aiming to stimulate economic growth amidst declining inflationary pressures. Governor Tiff Macklem emphasized a cautious approach to future rate decisions.
Deutsche Bank and Bitpanda Partner for Real-Time Crypto Payments
BitPanda and Deutsche Bank unveiled a partnership enabling real-time payments for German traders. This collaboration leveraged Deutsche Bank’s API-based solutions to enhance user experience and efficiency.
Robinhood to Acquire Global Crypto Exchange Bitstamp for $200 Million in Cash (June 6)
Robinhood disclosed plans to acquire Bitstamp for $200 million in cash, subject to regulatory approvals. Bitstamp’s extensive global presence and licenses made it an attractive target for expansion.
Bybit Unexpectedly Opens Registration for Mainland China Users, Causing Employee Panic (June 5)
Bybit’s sudden decision to allow registrations from mainland China without internal notification sparked speculation about its expansion strategy. The move targeted overseas Chinese communities amid global market restrictions.
Chinese Post-2000s Student Sentenced to 4 Years for Rug Pulling Memecoin BFF (June 6)
Yang Qichao, a post-2000s college student received a 4-year sentence for defrauding investors with Memecoin (BFF), causing substantial losses. This case underscored Chinese regulatory actions against crypto fraud.
Vitalik Buterin Criticizes Celebrity Involvement in Crypto on Social Media (June 5)
Ethereum co-founder Vitalik Buterin voiced concern over the proliferation of celebrity-backed crypto projects, urging a focus on sustainable initiatives. He emphasized the importance of projects serving long-term public interests.
That’s it! Thank you for being a part of the weekly highlights! 😊Happy Weekend!😃😃
