The month of May saw a surge in crypto investments, totaling around $1.02 billion according to a report published by KuCoin Research. Ethereum dominated the investments with 156 public disclosures, indicating a strong interest in the digital asset.
Despite facing money laundering charges, Nigerian authorities dropped tax evasion charges against Binance executives. This move was revealed in a report by Nigerian journalist Alexander Onukwue, shedding light on the legal battles within the industry.
US-based company ConsenSys confirmed that the US Securities and Exchange Commission has closed its investigation into Ethereum. This news was well-received by investors, leading to a surge in ETH prices as regulatory uncertainties were addressed.
Financial advisors, including Samara Cohen from BlackRock, remain wary of investing in spot Bitcoin ETFs. The inherent volatility and early stage of the crypto market make them cautious about allocating funds towards digital assets.
MicroStrategy, led by Michael Saylor, announced the purchase of 11,931 BTC worth nearly $800 million. With a total of $8.3 billion worth of Bitcoin in their holdings, the business intelligence firm continues to express confidence in the long-term potential of the leading cryptocurrency.
In a resolution to the ongoing drama between Kraken and Certik, the cryptocurrency exchange confirmed the return of all funds related to the controversial Whitehat hack. The announcement by the Kraken Chief Security Officer brings closure to the chapter of uncertainty surrounding the incident.
Polkadot introduced the Join-Accumulate Machine protocol and secured the Title sponsorship for Coinfest Asia in Bali in 2024. These advancements highlight the project’s commitment to innovation and community engagement within the cryptocurrency space.
Brad Garlinghouse, CEO of Ripple, celebrated important clarifications in the ongoing civil lawsuit in California, deeming it a significant win for the company. The legal officer also confirmed the undisturbed nature of the previous ruling in New York, providing clarity on Ripple’s legal battles.
Standard Chartered, a British multinational bank, announced plans to launch a trading desk dedicated to Bitcoin and Ethereum. This move positions the bank as the first global institution to enter the spot crypto trading arena, signaling growing institutional interest in digital assets.
Fidelity revealed plans to seed their much-anticipated Ethereum ETF with $4.7 million, indicating a strong commitment to the product’s success. While details about fees remain undisclosed, the move represents a significant step towards offering regulated exposure to Ethereum for investors.
The past week brought significant developments in the cryptocurrency industry, ranging from regulatory clarity to institutional adoption. These updates highlight the evolving landscape of digital assets and the growing interest from various stakeholders. Stay informed for more updates on the dynamic world of cryptocurrencies.
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