This week brought some exciting developments in the cryptocurrency industry, so let’s take a closer look at some of the top news highlights from the past seven days.
Starting on June 15th, it was reported that crypto investments reached a staggering $1 billion in May, with Ethereum leading the way. A report by KuCoin Research revealed that there were around 156 investments in the crypto industry during that month, totaling $1.02 billion.
In other news, Nigeria dropped tax evasion charges against Binance executives, although they are still facing money laundering allegations. This decision was made public in a report by Nigerian journalist Alexander Onukwue.
ConsenSys, a US-based crypto company, announced that the SEC has closed its investigation into Ethereum. This news was welcomed by investors, resulting in a significant increase in ETH prices.
Despite the growing interest in cryptocurrencies, financial advisors remain hesitant to invest in spot Bitcoin ETFs. Samara Cohen, Chief Investment Officer at BlackRock, cited concerns about the volatility and early stage of the market.
MicroStrategy, led by Michael Saylor, made headlines by purchasing 11,931 BTC worth nearly $800 million. This move brings the company’s total Bitcoin holdings to around $8.3 billion.
Kraken confirmed the return of funds from the controversial Whitehat hack, putting an end to the dispute with Certik. The Chief Security Officer at Kraken reassured users that all funds have been returned.
Polkadot made significant advancements in its ecosystem, introducing the Join-Accumulate Machine protocol and becoming the Title sponsor of Coinfest Asia in Bali in 2024.
Ripple CEO, Brad Garlinghouse, provided important clarifications regarding the ongoing lawsuit in California, deeming recent developments as a victory. The company’s legal team also confirmed that a previous ruling in New York remains valid.
Standard Chartered, a British multinational bank, announced plans to launch a Bitcoin and Ether trading desk, making it the first global bank to engage in spot crypto trading.
Fidelity is gearing up to launch an Ethereum ETF and will seed the product with $4.7 million. Details about the fees for the ETF have not been disclosed yet.
These are just a few of the significant developments in the crypto space over the past week. Stay tuned for more updates on this rapidly evolving industry.
