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Crypto NFT Today: Week 4 of April
Welcome to another edition of Crypto-NFT today! The last two weeks have been full of unmissable events that will set the tone for the future of blockchain, cryptocurrency, and NFTs.
With the SEC expected to deny spot Ether ETFs, Bitcoin prices dropping last week, and more, there is a lot of essential news you should know. So, let’s dive in and see what’s going on!
SEC Should Deny Spot Ether ETFs
A new report suggests that the US Securities and Exchange Commission (SEC) will likely deny applications for spot Ether (ETH) exchange traded funds (ETFs) in May. Second ReutersU.S. issuers and others anticipate the SEC’s rejection of spot Ether ETFs next month, based on recent discussions with the regulator.
These discussions, which involved four people with knowledge of the meetings, were reportedly one-sided, with SEC staff not engaging in substantive dialogue about the proposed products. The SEC’s stance on BTC spot ETFs changed after Grayscale Investments secured a court victory against the regulator in August 2023, after more than a decade of rejecting such claims.
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Bitcoin prices are decreasing
In a context of significant sales and a negative financing rate following its halving, Bitcoin has collapsed below the $64,000 mark, causing volatility with approximately $9.4 billion in crypto options nearing expiration. With Bitcoin struggling to sustain its upward trajectory, the cryptocurrency market is witnessing a substantial sell-off, resulting in the liquidation of over 40 million long positions in one hour and a total of over $220 million more. crypto liquidated in the last 24 hours.
This significant decline has heightened concerns among investors and analysts, prompting closer scrutiny of the factors contributing to Bitcoin’s current price decline. At the time of writing, BTC was trading at $64,081, reflecting a decline of more than 4% from its intraday high.
Indonesian president issues warning about money laundering
During a speech last week Marking the 22nd anniversary of the National Movement for Anti-Money Laundering and Prevention of Terrorist Financing at the State Palace in Jakarta, Indonesian President Joko Widodo admonished the Center for Financial Transaction Reporting and Analysis (PPATK) to closely monitor the use of cryptocurrencies and non-fungible token assets (NFTs) for money laundering. The president underlined his awareness of potential money laundering activities involving cryptocurrencies, citing data from Chainalysis’s Crypto Crime Report 2022, which indicated transactions totaling $8.6 billion (IDR 139 trillion) in 2021 .
“This sum, equivalent to 139 trillion rupees globally, is not just large, it is extremely large,” Widodo noted during his speech. He underlined the urgency of swift action to stay ahead of such illicit activities, stressing the need to prevent continued setbacks in the fight against financial crimes.
Binance integrates USD Coin on the CELO network
Binance said the successful integration of USD Coin (USDC) on the CELO network. This integration facilitates seamless deposits and withdrawals of USDC for users of Binance, a stablecoin tied to the value of the US dollar.
By incorporating USDC into the CELO network, Binance seeks to provide users with more options and adaptability in managing their digital assets. USDC has gained favor in the cryptocurrency realm due to its stability and transparent nature, making it an attractive choice for users looking to mitigate risks associated with volatility.