Regulation
Cryptocurrency News Today – July 24, 2024
Welcome to “Crypto News Today,” a roundup of regulatory and stock updates in the cannabis industry.
Spot Ether ETFs recorded $1.3 billion in trading volume on their first day, demonstrating 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 less institutional interest than Bitcoin ETFs. To learn more, visit the TDR website!
- Coinbase has narrowed its request in its legal battle with the SEC, specifically seeking internal messages related to cryptocurrency regulation from SEC Chairman Gary Gensler. The move is intended to shed light on the SEC’s stance and actions regarding digital asset oversight.
- Binance Labs has invested in Pluto Studio, the developer of the Telegram-based Web3 game Catizen. This investment will help Pluto Studio expand its mini-app and Catizen game engine, hire more developers, and improve its platform offerings, reflecting strong support for the GameFi and Web3 initiatives.
- The dYdX website was compromised following news of the sale of its derivatives trading software v3. The hack affected the old version of the platform, causing the dYdX token to drop more than 10% since the breach was reported.
- Bitwise has become the first spot Ethereum ETF issuer in the United States to publish Ethereum addresses, improving transparency for its ETHW fund. The move allows investors to verify 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. This initiative aims to integrate tokenized real-world assets (RWAs) such as U.S. Treasuries into the MakerDAO ecosystem, improving transparency and liquidity in the DeFi space.
- The recent Europol report identifies Bitcoin as the cryptocurrency most frequently used by criminals, often converted into stablecoins like Tether for stability. Monero’s privacy features have also made it popular for illicit activities, as it allows users to obscure transaction details and evade law enforcement scrutiny.
Visit TDR’s website for more of today’s cryptocurrency news!
Bill (William McNarland, CFA) has over 25 years of experience in complementary areas of capital markets, including private equity and credit due diligence, economic and equity research, and corporate finance. He has served on the boards of six different companies and has served as a trustee and Investment Review Committee member for regulated investment funds. Having completed nine degrees and designations, with notable distinction as a Chartered Financial Analyst, Bill is currently pursuing his academic studies with a Masters in Psychology. Additionally, he is the author of seven published books, all available on Amazon.