Ethereum
Are Ethereum ETFs in Trouble? Analysts are losing confidence
What Happened in Crypto Today: Are Ethereum ETFs in Trouble? Analysts are losing confidence
This week in crypto felt like we were all thrust into a real-life squid game. High-stakes challenges continue to present themselves to the community from all angles.
It all started with Bitcoin hitting a new all-time high of around $73,000 last Thursday. The community was euphoric, dreaming of life-changing riches as the OG coin ran through the resistance like it was nothing.
Source: BTC price page
But then the brutal reality hit. BTC rallied back to $63,000 as aggressive selling neutralized the epic rally in the blink of an eye.
As the market tried to deal with the pricing chaos, major drama erupted on another front. Trezor – one of the most trusted names in crypto security – has had its social media account compromised. Their X account was used to sell a fake “TRZR” token sale in what looked like a cruelly customized variation of the Red Light/Green Light game.
And just when we thought things couldn’t get worse, the SEC took action (well, not really!). Those waiting for decisions on the proposed ETH ETF applications were criticized when the SEC chose to once again push back these very important decisions with delays.
Amid this password pocalypse, the crypto news cycle has continued to spin with more and more major players making power moves. So let’s round up the top crypto stories!
Here is a TLDR of the main titles:
Let’s get into the details of each of these stories!
We hope you haven’t fallen in love with TRZR…
Things went wrong in the world of wallets yesterday – and it all started with one of the most trusted names in the hardware wallet game.
On March 19, none other than Trezor, the cryptocurrency hardware wallet company that has sold over 2 million devices worldwide, suffered a major security breach. And believe us, it wasn’t pretty.
According to reports, Trezor’s official account on the Bird app has been hacked in what is suspected to be a SIM swap attack. And once the attackers took control, they wasted no time launching an elaborate crypto scam.
The compromised account began promoting a fake token presale for the “TRZR” token on the Solana blockchain.
How much money did its subscribers lose? Has Trezor made an official announcement following the incident? Read the full story!
Another big move from BlackRock
The world’s largest asset manager has just filed with the SEC to launch a tokenized asset fund. And we’re not talking about a small deal – this is a big step forward from one of the most influential players in the financial industry.
The story continues
According to the filing, BlackRock’s new fund will be called “BlackRock USD Institutional Digital Liquidity Fund” and will be registered in the British Virgin Islands.
But here’s the thing: If you want to get in on the action, you better have plenty of money to spend because the minimum investment is $100,000.
On the bright side, if this is approved, we will likely see trillions flowing into tokenization and RWAs soon! Read the full story!
A $100 million Web3 gaming fund?
Another day, another blockchain gaming investment fund, right? 🥱
This time, it’s Immutable, Polygon Labs and venture capital firm King River Capital teaming up to launch a $100 million “Inevitable Gaming Fund.” This sounds impressive on paper, but what’s in it for the average crypto degenerate?
They have already obtained the support of big names like Alpha Wave Ventures from Abu Dhabi or the family office of Mike Arrington. In addition, the fund participates in some popular gaming projects such as Pixelmon and Guild of Guardians.
But at the end of the day, it’s just another venture capital money pit… unless there’s something truly game-changing in store.
Perhaps this trio has cracked the code to delivering a truly fun and engaging Web3 gaming experience? One that doesn’t feel like a money raiser or tech demo, but an innovative blend of gaming and crypto that’s never been seen before? Read the full story!
Matter Labs takes action
It’s time to talk about a power shift in the world of Layer 2 scaling solutions and institutional finance.
Matter Labs has partnered with digital asset bigwigs Sygnum Bank to tokenize $50 million of their cash reserves. That’s right – Fifty. Million. Dollars.
But wait, there’s more! This tokenization extravaganza is not just random cryptographic flexing. No, these funds are tokenized on the very blockchain built by Matter Labs – zkSync itself.
Now, for those of you unfamiliar with the world of traditional finance (or “Trad-Fi” as we like to call it), these tokenized funds will represent Matter Labs’ investment in the Fidelity Institutional Liquidity Fund . And we’re not just talking about a blitz here: this Fidelity fund is a giant of the open-end money market.
It looks like RWA and tokenization are becoming the next big trend to follow. Read the full story!
SEC ETF and ETH
The SEC has decided to keep us in suspense a little longer by delaying its decision on the spot ETH ETFs offered by Hashdex and ARK 21Shares.
According to the SEC’s March 19 announcement, the final decision on these ETH ETF applications has been pushed back to late May, leaving the crypto community on the edge of its seat for at least two more months.
It appears Bloomberg market analysts are starting to lose confidence in the prospect of these ETFs getting the green light. Yes, you read that right – even seasoned pundits are beginning to doubt the SEC’s willingness to play along.
Were Bloomberg analysts not too optimistic about the ETH ETF approval in May? What happened? What did they say? Read the full story!
Popular Game Developer Goes Web3
The minds behind iconic franchises like Final Fantasy and Kingdom Hearts are diving headfirst into blockchain gaming. And they’re not just dipping their toes in the water: Square Enix has formed a partnership with HyperPlay, a Web3 gaming platform built on blockchain.
This collaboration isn’t just a handshake deal: Square Enix has made an undisclosed investment in HyperPlay, with the goal of expanding and evolving the platform’s game store offerings.
And as if that wasn’t enough, Square Enix is also set to launch “SYMBIOGENESIS”, an artistic experience based on the popular cryptocurrency wallet MetaMask, on the HyperPlay storefront. Read the full story!
It’s finish ! See you tomorrow with more crypto stories.