⏱️ The SEC is not rushing the commercialization of Spot Ether ETFs

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

Joe Biden’s decision to veto legislation passed by the U.S. House and Senate that would have overturned the SEC’s controversial crypto accounting rule dashed hopes that Democrats might abandon their position anti-crypto.

Robinhood Crypto is set to acquire veteran cryptocurrency exchange Bitstamp. Robinhood said the move would help it enter markets outside the United States.

Additionally, Bitcoin miners continue to struggle after the halving, Taiko achieves a nine-digit airdrop, BNB hits new all-time highs, and a wallet labeled as belonging to Donald Trump amasses millions of dollars in memecoin holdings.

✍️ In today’s newsletter:

• SEC Slowly Working on Ether ETF Spot Deposits
• Outrage over Biden’s veto of SAB 121
• Robinhood to buy Bitstamp for $200 million
• Bitcoin miner reserves fall to three-year low
• Taiko Airdrops $2.1B Token FDV
• BNB hits new highs above $700
• “Donald Trump” owns $28 million in memecoins

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📈 Markets of the last 24 hours:

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Check out our podcast with David SchwartzTHE Ripple CTO, to stay up to date on the project roadmap and the legal battle with the SEC. And find our interview with Bobby OngTHE co-founder of CoinGecko, to learn more about the popular crypto data provider. Additionally, look at our Challenge 101 video exploration passive income strategies!

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DeFi Saver is an all-in-one management dashboard for decentralized financial protocols, with more powerful interfaces, trading features and automation options for Aave, Compound, Curve, Spark, Morpho Blue and more.

🔎Gary Gensler Says Spot Ether ETF Launch Will Take Time

SEC Chair Gary Gensler said his agency was not rushing to approve the S-1 Registration Statements spot Ether ETF candidates. However, while Gensler told CNBC, the SEC “take some time“to give the green light to the deposits, 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 the crypto community is outraged speak Biden administrationthe move to veto a resolution who crossed the two American houses with bipartisan support reject the The SEC’s Controversial Crypto Accounting Rule. The move comes after Biden’s recent decision not to veto the FIT21 pro-crypto invoice gave some analysts hope that Democrats were turning to crypto midway through the election cycle.

🤝Robinhood to Acquire Crypto Exchange Veteran Bitstamp

Robin Hood expands its crypto operations with the acquisition of Bit stamp. The agreement is expected to be concluded within first half of 2025Robinhood acquiring the long-standing exchange for just $200 million in cash.

⛏️Bitcoin miners struggle after halving as reserves plunge

Bitcoin miner reserves collapsed on their lowest level since July 2021 in the middle of income crisis after halving. The Bitcoin network hash rate is also down 8%reporting that many miners have been forced offline since block rewards were cut in half.

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One might wonder why an L1 would launch an entirely new smart contract platform in 2024; What contribution could this ecosystem make to a market already saturated with mature players?

Soroban was released as part of Protocol 20 on the Stellar mainnet in May 2024; The vision was to take a proven channel, optimized for low-cost remittances, and add additional utility that could contribute to the mission of providing greater financial access.

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READ MORE: Five key challenges with DeFi solved with the Stellar Smart Contract platform

🪂ZK-Rollup Taiko Airdrops Token and Reaches a Fully Diluted Valuation of $2 Billion

Taiko is the last layer 2 to distribute a token to the first users at a fully diluted ten-figure valuation. However, the drop actually amounts to a Market capitalization of $110 million.

📈️BNB hits record high as crypto market rebounds

While most digital assets benefited modestly bullish week so far, BNB outperforms the pack. BNB is up 18% within the last seven days after publication historic highs above $700.

‘Trump’ Wallet Memecoin Bags Reach $30M as Celebrity Drama Continues️

A wallet marked as belonging to Donald Trump by Arham Intelligence now holds $28 million in memecoins after airdropping half of Trump Frog’s (TROG) supply.

🌍 SOMEWHERE ELSE

• Franklin Templeton eyes new crypto fund after Ethereum ETF approval: report (Decrypt)
• Binance reinstates crypto purchases via Mastercard (Cointelegraph)
• Chinese expats can trade cryptocurrencies on Bybit, the exchange officially announces (The block)
• Cosmos Hub resumes block production after 4-hour outage (unleashed)

🔥 TRENDY

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