The week saw spot Bitcoin ETFs gaining momentum, with Meta now declaring that it will allow ETF ads on Facebook and Instagram. Let’s learn more about what happened in crypto news this week.
Bitcoin
Fidelity’s spot Bitcoin ETF, FBTC, has overtaken Grayscale Bitcoin Trust by bringing in a significant $208 million in daily inflows.
Financial firm YieldMax has submitted an application to the SEC to launch a Bitcoin Options Income strategy ETF (YBIT).
Fed Chairman Powell will give his customary speech at the end of the FOMC on Wednesday. He is expected to announce that interest rates will stay the same
Ethereum
Standard Chartered’s head of forex and digital assets research believes that the SEC could approve a spot Ethereum ETF by May 23.
Web 3 infrastructure platform QuickNode announced the launch of Immutable zkEVM, a Layer 2 blockchain games development blockchain, on its platform this week.
Ethereum’s developers are testing the Dencun upgrade by successfully deploying it on the Sepolia testnet on Tuesday.
DeFi
Bitcoin-based DeFi platform Velar has secured funding of $3.5 million in seed round to create a PerpDEX on Bitcoin.
Web3Intelligence, a digital asset platform helping users build wealth through decentralized finance, has successfully completed a $4.5 million private funding round.
Business
Meta has followed the footsteps of other platforms, such as Google and Facebook, and will soon be allowing spot Bitcoin ETF ads on Facebook and Instagram.
After being named in a proposed class-action lawsuit for promoting crypto exchange FTX, Larry David has expressed regret for being a part of the firm’s high-profile 2022 Super Bowl commercial.
Crypto derivatives exchange Bybit is eyeing the Hong Kong market and has submitted a license application to operate the Bybit platform in the city.
In a recent court hearing, bankrupt crypto exchange FTX stated that it intends to repay customers whose crypto deposits were locked when the company filed for bankruptcy in November 2022.
NFT
Despite a significant dip in the global NFT market, former POTUS Donald Trump’s NFT collection is soaring in popularity.
Worldcoin developer Tools For Humanity and web3 “SuperApp” Kresus have announced a strategic partnership to collaborate on initiatives that should enhance their respective projects.
Security
Ripple co-founder Chris Larsen has reported that he was targeted by hackers who gained access to personal XRP accounts, leading to Larsen losing around $112 million.
Regulation
Senator Elizabeth Warren and a coalition of senators have reignited their criticism of crypto-related fraud and money laundering. Warren is pushing for stricter crypto laws.
The SEC has charged HyperVerse founders with crypto fraud after their alleged Ponzi Scheme stole nearly $2 billion from investors.
The SEC is pushing the court to dismiss its lawsuit against Debt Box after being threatened by sanctions.
The High Court of Singapore has rejected an application by bankrupt crypto hedge fund Three Arrows Capital (3AC) to dismiss the suit brought by Cheong Jun Yoong, the founder of Web3 investment firm DeFiance Capital.
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
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