Nfts
Crypto NFT Today: April Week 4
Welcome to another edition of Crypto NFT Today! The last two weeks have been full of unmissable events that will determine the future of blockchain, cryptocurrency and NFTs.
With the SEC expected to deny spot Ether ETFs, Bitcoin prices plummeting last week and more, there’s plenty of key news you should know. So let’s go ahead and see what happens!
SEC Should Deny Spot Ether ETFs
A new report suggests that the U.S. Securities and Exchange Commission (SEC) will likely deny applications for spot Ether (ETH) exchange-traded funds (ETFs) in May. According to ReutersU.S. issuers and other entities anticipate SEC rejection of spot Ether ETFs next month, based on recent discussions with the regulator.
These discussions, involving four people with knowledge of the meetings, were reportedly one-sided, with SEC staff not engaging in substantive dialogue about the proposed products. The SEC’s stance on spot BTC ETFs changed after Grayscale Investments secured a legal victory against the regulator in August 2023, following more than a decade of rejections of such filings.
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Bitcoin prices fall
Amid a massive sell-off and negative funding rate following its halving, Bitcoin fell below the $64,000 mark, causing volatility as around $9.4 billion worth of crypto options are set to expire. As Bitcoin struggles to maintain its upward trajectory, the crypto market is experiencing a massive sell-off, leading to the liquidation of over 40 million long positions in an hour and a total of over $220 million in crypto liquidated in the last 24 hours.
This significant slowdown has increased concerns among investors and analysts, prompting a closer look at the factors contributing to the current Bitcoin price decline. At the time of writing, BTC was trading at $64,081, reflecting a decline of over 4% from its intraday high.
Indonesian president warns against money laundering
During speech last week At the 22nd anniversary of the National Movement for the Prevention of Money Laundering and Terrorism Financing at the State Palace in Jakarta, Indonesian President Joko Widodo warned the Financial Transaction Reporting and Analysis Center (PPATK) to closely monitor the use of cryptocurrencies and non-fungible products. tokens (NFT) for money laundering. The president highlighted his awareness of potential money laundering activities involving crypto assets, citing data from Chainalysis’ 2022 Crypto Crime Report, which indicated transactions amounting to $8.6 billion (IDR 139 trillion). ) in 2021.
“This amount, equivalent to 139 trillion rupiah globally, is not only large – it is extremely large,” Widodo remarked during his speech. He stressed the urgency of rapid action to stay ahead of these illicit activities, emphasizing the need to avoid continued setbacks in the fight against financial crime.
Binance integrates USD Coin on the CELO network
Binance declared the successful integration of USD Coin (USDC) on the CELO network. This integration facilitates seamless deposit and withdrawal of USDC for Binance users, a stablecoin pegged to the value of the US dollar.
By integrating USDC into the CELO Network, Binance seeks to provide users with increased options and adaptability in managing their digital assets. USDC has gained favor in the cryptocurrency space due to its stability and transparent nature, making it an attractive choice for users looking to mitigate the risks associated with volatility.