NFTs
Crypto NFT Today: Week April 4
Welcome to another edition of NFT Crypto Today! The last two weeks have been full of unmissable events that will define points for the future of blockchain, cryptocurrency and NFTs.
With the SEC expected to deny spot Ether ETFs, Bitcoin prices falling 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 expected to deny Spot Ether ETFs
A new report suggests that the United States Securities and Exchange Commission (SEC) will likely deny applications for spot Ether (ETH) exchange-traded funds (ETFs) in May. According to ReutersUS issuers and other entities anticipate rejection of spot Ether ETFs by the SEC next month, based on recent discussions with the regulator.
These discussions, involving four people familiar with the meetings, would have been one-sided, with SEC staff not participating in substantive dialogue about the proposed products. The SEC’s stance on spot BTC ETFs changed after Grayscale Investments secured a court victory against the regulator in August 2023, following more than a decade of rejections of such filings.
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Bitcoin Prices Are Falling
Amid a notable sell-off and a negative funding rate following its halving, Bitcoin fell below the $64,000 mark, causing volatility of approximately $9.4 billion in crypto options near expiration. With Bitcoin struggling to sustain its upward trajectory, the crypto 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 in crypto liquidated in the last 24 hours.
This significant slowdown has heightened concerns among investors and analysts, prompting closer examination of the factors contributing to Bitcoin’s current price decline. At the time of writing, BTC is trading at $64,081, reflecting a decline of over 4% from its intraday high.
Indonesian president warns about money laundering
During a speech last week On the 22nd anniversary of the National Anti-Money Laundering and Prevention of Terrorism Financing Movement at the State Palace in Jakarta, Indonesian President Joko Widodo warned the Financial Transactions Analysis and Reporting Center (PPATK) to closely monitor the use of cryptocurrencies and non-fungible tokens (NFTs) for money laundering. The president highlighted his awareness of possible money laundering activities involving crypto assets, citing data from Chainalysis’ 2022 Cryptocrime Report, which indicated transactions worth $8.6 billion (139 trillion IDR) in 2021.
“This amount, equivalent to 139 billion rupiah worldwide, is not just large – it is extremely large,” noted Widodo during his speech. He stressed the urgency of swift action to stay ahead of such illicit activities, emphasizing the need to avoid continued setbacks in the fight against financial crimes.
Binance Integrates USD Coin on CELO Network
Binance declared the successful integration of USD Coin (USDC) on the CELO network. This integration facilitates the seamless deposit and withdrawal of USDC for Binance users, a stablecoin pegged 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 popularity in the cryptocurrency world due to its stability and transparent nature, making it an attractive selection for users looking to mitigate risks associated with volatility.