As an experienced analyst in the cryptocurrency industry, I find this week to be particularly noteworthy due to the numerous developments that have taken place within our dynamic sector. Let’s examine some of the most significant crypto news from the past seven days.
This week was very exciting in terms of developments within the cryptocurrency industry.
Let’s explore some noteworthy cryptocurrency developments from the previous week.
Let’s dive in.
Most Important Crypto News This Week
The list is chronological, starting from June 15th.
As a researcher investigating the crypto market, I came across an intriguing finding from KuCoin Research: In May alone, approximately 156 public crypto investments were disclosed, accumulating to a significant total of roughly $1.02 billion. Ethereum was particularly noteworthy in these investments.
Nigeria Drops Tax Fraud Allegations Against Binance Executives: The executives continue to face charges in Nigeria’s money laundering case filed by the Economic and Financial Crimes Commission (EFCC). However, the tax evasion accusations leveled against them have been dismissed by the authorities, according to a report from journalist Alexander Onukwue.
ConsenSys Announces SEC to Close Investigation into Ethereum. US-based crypto-focused company ConsenSys announced that the US Securities and Exchange Commission has decided to close its investigation into Ethereum. Investors perceived this as a major win, and ETH prices soared in response.
Financial advisors exhibit caution when it comes to investing in Bitcoin spot Exchange-Traded Funds (ETFs) due to the asset’s volatility and immaturity, as per Samara Cohen, BlackRock’s Chief Investment Officer for index investments.
Michael Saylor’s business intelligence company, MicroStrategy, has recently acquired 11,931 Bitcoins, adding up to nearly $800 million in value. With this latest purchase, MicroStrategy now holds approximately $8.3 billion worth of the leading cryptocurrency.
As a crypto investor, I’ve kept a close eye on the developments between Kraken and Certik. And finally, I can breathe a sigh of relief as Kraken’s Chief Security Officer confirmed this Thursday that all funds returned from the controversial whitehat hack have been safely received by the exchange.
Polkadot’s Numerous Advancements: Ecosystem Recap. Recently, Polkadot saw the introduction of the Join-Accumulate Machine protocol while also becoming the Title sponsor of the Coinfest Asia held in Bali later in 2024.
Brad Garlinghouse, the CEO of Ripple, viewed the latest turn of events in the California lawsuit against him as a significant victory. Concurrently, the company’s legal representative underlined that the prior decision made in New York had no impact and remained unchanged.
Reports indicate that Standard Chartered, a well-known international banking institution based in the UK, plans to introduce a dedicated trading desk for handling transactions in Bitcoin and Ethereum. If accurate, this would mark a groundbreaking move as the first global bank to offer such services for spot crypto trading.
As a researcher studying the latest developments in the world of cryptocurrency exchange-traded funds (ETFs), I’m excited to report that Fidelity, a leading financial services company, will be contributing an initial investment of $4.7 million into its Ethereum ETF. This announcement comes as anticipation builds around this new product. Yet, it’s important to note that the fees associated with this ETF have yet to be disclosed.
In simple terms, here’s a recap of the significant crypto news from the previous week. Keep coming back for more informative updates!
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2024-06-22 15:30