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🔮 Which Crypto ETF Gets Approved Next?
In today’s edition: 📉 ETH fails to surge after SEC nod, 🐸 PEPE hits all-time high, 🗽 XRP trading resumes on Coinbase NY, and more!
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What’s Poppin’?
by Sam Sriram, Juan Aranovich, and Sage Young
With ETH ETFs getting the green light, the race heats up: Will Solana, Dogecoin, XRP, or Litecoin be next?
It was meant to be a watershed moment for the industry, but crypto markets turned negative after the SEC approved regulatory filings that brings spot ether ETFs one step closer to trading.
One whale has withdrawn about $13.6 million worth of PEPE from crypto exchange Binance since the fortunes of the ETH ETF approval reversed.
The decision comes during a week when numerous NY-based members of Congress have voted for bills at odds with the SEC.
Daily Bits… ✍️✍️✍️
🐶💔 Kabosu, the Shiba Inu whose viral meme led to the creation of Dogecoin, passed away.
🏦 FTX Group settled with six whistleblowers for over $25 million, including an FTX.US executive, as revealed in an examiner's report.
🔮 Over $10 million has been wagered on Polymarket about the approval of Ethereum ETFs by May 31, though the definition of "approval" is unclear.
📝 The U.S. House passed the CBDC Anti-Surveillance State Act, aiming to prevent the Federal Reserve from issuing retail CBDCs, with limited bipartisan support.
🇭🇰 Hong Kong's Securities and Futures Commission is considering allowing staking for spot Ethereum ETFs, in contrast to U.S. issuers, who have removed staking from their applications ahead of potential approvals, Bloomberg reported.
📈 Grayscale Investments launched two new trusts, allowing accredited investors to access daily subscriptions in NEAR and STX, supporting the Near Protocol and Bitcoin Layer 2 Stacks, respectively.
The $$$ Corner…
💸 The Fantom Foundation announced the launch of Sonic Foundation and Sonic Labs for its new blockchain, and secured $10 million in funding led by Hashed.
💰 Plume, a startup aiming to bring real-world assets like real estate and collectibles onto blockchains, raised $10 million in seed funding led by Haun Ventures and including Galaxy Ventures and others, to build the first layer-2 blockchain designed for RWAs.
This episode covers the Ether ETF Approval and its market impact, Biden’s evolving crypto policy, and the bipartisan repeal of SAB-121. We debate the controversy around High FDV Low Float Tokens and discuss the DOJ indictment for a $25 million MEV exploit. Tune in for insights on memecoin performance, the role of prediction markets in politics, and the increasing participation of retail investors in the crypto market.
Listen to the episode on Apple Podcasts, Spotify, Pods, Fountain, Overcast, Podcast Addict, Pocket Casts, Castbox, Amazon Music, or on your favorite podcast platform. Or watch it on YouTube.
What Do You Meme?
📈 Your Market Update 📉
BTC is down 3.2%, trading at $67,275
ETH is down 5.2%, trading at $3,699
BTC dominance: 50.13%
Crypto market cap: $2.65T
*All data as of today, 07:55 am ET. Source: CoinGecko
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