Crypto Weekly Roundup: Trump Makes Crypto Play, Institutions Make ETF Investments, & More

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Another week, another postponement from the SEC, as the regulatory body keeps pushing back its deadline on various Ethereum ETF applications. However, this indecision from the watchdog has not deterred institutional investors who are now investing heavily in ETF projects. Let’s find out more.

Bitcoin

Former president and Republican presidential candidate for the upcoming U.S. presidential elections, Donald Trump, has made several pro-crypto comments at a recent event, firmly establishing himself against Biden’s more strict crypto policies. 

Quantitative trading firm Susquehanna International Group made a significant move in the cryptocurrency market by allocating over $1 billion to Bitcoin exchange-traded funds (ETFs) during the first quarter of 2024. 

In a May 6 filing, Hightowers Advisors disclosed a $68 million investment in spot Bitcoin ETFs, disclosed in a May 6 filing. 

Ethereum

Ethereum co-founder and the CEO of Consensys, Joseph Lubin, has hit out at the SEC for intentionally stifling innovation in the cryptocurrency industry, claiming that the SEC is engaging in strategic enforcement action instead of meaningful discussions with the crypto industry. 

Vitalik Buterin, along with co-authors Matt Garnett, Ansgar Dietrichs, and Sam Wilson, have proposed EIP-7702 as an alternative to EIP-3074 to refine account abstraction on Ethereum.

Business

Ripple and XRPL Labs have partnered with Hedera and Algorand to form the DeRec Alliance, aiming to develop a new standard for digital asset recovery, bringing together industry leaders to enhance interoperability and accessibility in the crypto space.

Pantera Capital, a prominent blockchain investment firm, has recently made its largest investment ever in Telegram's Open Network (TON), signaling Pantera's strong confidence in the future of blockchain technology.

Monero trading platform LocalMonero is hanging up its hat, citing internal and external factors amid a broader regulatory crackdown on privacy-focused cryptocurrencies.

NFT

The class action lawsuit against Cristiano Ronaldo for promoting his NFT collection on the Binance crypto exchange continues as the judge denies his motion to dismiss. 

Security

The Poloniex hacker has transferred $3.3 million worth of ETH to the Tornado Cash mixer after 178 days of inactivity, highlighting ongoing concerns over laundering activities involving the cryptocurrency mixer.

Regulation

The SEC postponed its decision on the Invesco Galaxy Spot Ethereum ETF again, adding to the uncertainty surrounding Ethereum ETFs as the regulatory body keeps extending its deadlines.

The United States Justice Department has charged Maximilien de Hoop Cartier, a descendent of Louis Cartier, with collaborating with a Colombian drug cartel and laundering drug money using USDT. 

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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