The digital asset investment products experienced outflows for the fourth consecutive week, totaling $251 million. This trend indicates a bearish sentiment in the market, with investors pulling out their funds. One notable aspect was the “measurable outflows” from newly issued ETFs in the US, amounting to $156 million last week. This suggests that investors are
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Coinbase chief legal officer Paul Grewal recently took to social media to criticize US SEC Chair Gary Gensler for what he perceives as misleading statements about the legal status of cryptocurrencies. Grewal disputed Gensler’s claim that many digital assets should be classified as securities, pointing out that the SEC’s own lawyers have previously acknowledged that
Hong Kong’s Bitcoin ETFs faced their first significant setback after launching on April 30, as they experienced their first cumulative daily BTC outflows on Monday. The China Asset Management Bitcoin ETF saw an outflow of $4.9 million, while other Hong Kong-based products reported no flows. This initial outflow raised concerns about the viability of these
The recent surge in the price of Aqua Cat on Sol (AQUACAT) has caught the attention of traders worldwide, with its price skyrocketing by an impressive 33,895% overnight. AQUACAT, although not a literal cat coin, has managed to attract investors with its unique sea-otter concept. With a current market price of $0.000910 and a 24-hour
The recent detention of Tigran Gambaryan, a US citizen and the head of Binance’s financial crime compliance department, in Nigeria has sparked outrage within the cryptocurrency community. Binance CEO Richard Teng has publicly called for Gambaryan’s release, stating that the detention was unjust and set a dangerous precedent. According to Teng, inviting a company’s employees
Bitcoin (BTC) has recently seen a slowdown in its price movement, despite recovering above $60,000. This tepid price movement can be attributed to various factors, with one of the main reasons being the reduced demand for the Spot Bitcoin ETFs. These ETFs experienced billions of dollars in net inflows during the first three months of
Fantasy Top is a revolutionary crypto-based fantasy football-style game that is making waves in the world of card trading games. Operating on the Blast network, Fantasy Top focuses on popular crypto influencers and their real-world social media engagement. Players have the opportunity to create lineups of influencer NFT trading cards to compete against each other
Despite the recent recovery of Cardano from its April lows and maintaining momentum above $0.45, there are mixed sentiments about the future trajectory of the altcoin. While some analysts expect a rally, others, like ‘More Crypto Online’, predict further decline in the ADA price. The Elliot Wave Theory suggests that Cardano is currently in its
Ethereum’s recent price recovery is a positive sign amidst a bearish crypto market, but beneath the surface, there is a significant trend that may have a lasting impact on Ethereum’s economic model. In April, the ETH burn rate reached an annual low due to a substantial decrease in network transaction fees. This decline has led
The recent crackdown by the Securities and Exchange Commission (SEC) on crypto firms has led Bitwise Investments CIO Matt Hougan to suggest that the regulatory environment inadvertently benefits US crypto exchange Coinbase. According to Hougan, the current regulatory challenges create an “artificial moat” for Coinbase, giving the platform an edge over its competitors. He believes
