⏱️ SEC Isn't Rushing Spot Ether ETFs to Market

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Gary Gensler has put to bed speculation that spot Ether ETFs will hastily enter the market. Speaking to CBNC, Gensler said it would “take some time” for the regulator to greenlight the prospective funds’ S-1 registration statements.

Joe Biden’s decision to veto legislation passed by both the U.S. House of Representatives and Senate that would have struck down the SEC’s controversial crypto accounting rule has dashed hopes that the Democrats may be abandoning their anti-crypto stance.

Robinhood Crypto is set to acquire the veteran cryptocurrency exchange Bitstamp. Robinhood said the move would help it break into markets outside of the U.S.

Plus, Bitcoin miners continue to struggle post-halving, Taiko completes a nine-figure airdrop, BNB tags new all-time highs, and a wallet tagged as belonging to Donald Trump amasses millions in memecoin holdings.

✍️ In today’s newsletter:

• SEC slowly works through spot Ether ETF filings
• Outrage over Biden vetoing SAB 121 resolution
• Robinhood to buy Bitstamp for $200M
• Bitcoin miner reserves sink to a three-year low
• Taiko airdrops token at $2.1B FDV
• BNB tags new highs above $700
• ‘Donald Trump’ owns $28M in memecoins

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📈 Markets in the last 24 hrs:

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Check out our podcast with David Schwartz, the CTO of Ripple, to get up to speed on the project’s roadmap and legal battle with the SEC. And catch up on our interview with Bobby Ong, the co-founder of CoinGecko, to learn about the popular crypto data provider. Plus, watch our DeFi 101 video exploring passive income strategies!

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🔎Gary Gensler Says Spot Ether ETF Launch Will Take Time

SEC chair Gary Gensler said his agency is not rushing to approve the S-1 registration statements of spot Ether ETF applicants. However, while Gensler told CNBC the SEC will “take some time” to greenlight the filings, he did not indicate that the funds will not receive approval.

💔Biden’s Surprise Veto Signals Democrats’ Crypto-Friendly Era May Have Been Wishful Thinking

The crypto community is outraged by the Biden administration’s move to veto a resolution that passed through both U.S. houses with bipartisan support rejecting the SEC’s controversial crypto accounting rule. The move came after Biden’s recent decision not to veto the pro-crypto FIT21 bill gave some analysts hope that the Democrats were warming to crypto amid the election cycle.

🤝Robinhood To Acquire Veteran Crypto Exchange Bitstamp

Robinhood is expanding its crypto operations with the acquisition of Bitstamp. The deal is set to go down in the first half of 2025, with Robinhood acquiring the long-standing exchange for just $200 million in cash.

⛏️Bitcoin Miners Struggle Post-Halving as Reserves Plunge

Bitcoin miner reserves have slumped to their lowest level since July 2021 amid the post-halving revenue crunch. The Bitcoin network’s hash rate is also down 8%, signaling that many miners have been forced offline since block rewards halved.

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🪂ZK-Rollup Taiko Airdrops Token And Reaches $2 Billion Fully-Diluted Valuation

Taiko is the latest Layer 2 to distribute a token to early adopters at a ten-figure fully diluted valuation. However, the airdrop actually equated to a $110 million market cap.

📈️BNB Hits All-time High as Crypto Market Rebounds

While most digital assets have enjoyed a modestly bullish week so far, BNB is outperforming the pack. BNB is up 18% over the past seven days after posting all-time highs above $700.

💰'Trump' Wallet's Memecoin Bags Reach $30 Million As Celebrity Drama Wears On️

A wallet marked as belonging to Donald Trump by Arham Intelligence now holds $28 million in memecoins after it was airdropped half of the supply of Trump Frog (TROG).

🌍 ELSEWHERE

• Franklin Templeton Eyeing New Crypto Fund After Ethereum ETF Approval: Report (Decrypt)
• Binance reinstates crypto buys via Mastercard (Cointelegraph)
• Chinese expats can trade crypto on Bybit, the exchange officially announces (The Block)
• Cosmos Hub Resumes Block Production After 4-Hour Outage (Unchained)

🔥 TRENDING

• Linea Halts Network after Velocore Exploit
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• Telegram-Based Wallet Bot Introduces Stricter KYC Rules