Blockchain Explained

🇺🇸 US SEC expected to deny spot 🪙 Ether ETFs in May The United States Securities and Exchange Commission (SEC) will most likely deny spot Ether exchange-traded funds (ETF) in May, according to a new report. Reuters reported on April 24 that U.S. issuers and other firms expect the SEC to reject spot Ether ETF applications next month following meetings with the regulator in recent weeks, citing four people who participated in the meetings. Source https://t.me/Blockchain_Explained

💰 FTX to Auction Off Remaining 💰 Solana (SOL) Tokens: Report Bankrupt cryptocurrency exchange FTX is looking to offload its remaining Solana native tokens, SOL, via an auction this week. According to a Bloomberg report, people familiar with the matter said the bankruptcy estate would auction an unspecified amount of SOL in the hopes of receiving a higher price than that which they would have gotten through direct sales. Source https://t.me/Blockchain_Explained

💰 BlackRock 'gaga' over spot bitcoin fund that accounts for 24% of firm's total ETF flows: analyst Bloomberg Senior ETF Analyst Eric Balchunas is convinced BlackRock is thrilled with the success of its spot bitcoin ETF, ticker IBIT, and backed up his assertion with some compelling data. "I know they're gaga over this IBIT, I mean this ETF IBIT is 24% of all of their flows out of 1,000 ETFs globally," Balchunas said Wednesday during a online panel discussion about Hong Kong's recently approved spot crypto ETFs. "You know that's getting the attention of even Larry Fink." Source https://t.me/Blockchain_Explained

⚫️ Solana DEX aggregator acquires Ultimate Wallet as part of mobile push Solana DEX aggregator Jupiter announced Tuesday it has acquired the self-custody crypto wallet firm Ultimate Wallet as it aims to onboard millions more users with a mobile expansion. Along with posting news of the acquisition to X, Jupiter said its "mobile initiative to onboard tens of millions of users is beginning" and will be "ready for beta in May." Jupiter said that acquiring Ultimate Wallet fits into its mobile strategy. Source https://t.me/Blockchain_Explained

💰 Ripple challenges SEC’s $2 billion fine, proposes $10 million settlement instead Crypto company Ripple has responded to the Securities and Exchange Commission’s (SEC) pursuit of nearly $2 billion in fines by advocating for a different approach. Stuart Alderoty, Ripple’s Chief Legal Officer, conveyed the company’s stance in a statement on the X (formerly Twitter) platform, stating that the case “had no allegations (or findings) of recklessness or fraud.” Source https://t.me/Blockchain_Explained

💰 Standard Chartered Analyst Predicts Bitcoin Price By Year End Can Reach $150,000 Geoff Kendrick of Standard Chartered emphasizes the transformative impact of these developments, citing increased optimism within the financial sector and the broader cryptocurrency landscape. Kendrick predicts a target of $150,000 for Bitcoin price by year end, reflecting a bullish outlook even in the absence of similar performance from other cryptocurrencies. Source https://t.me/Blockchain_Explained

💰 Bitcoin miner Hut 8 receives 'buy' rating and new price target from Benchmark Benchmark has initiated coverage of bitcoin miner Hut 8, giving the company a "buy" rating and a price target of $12. In its evaluation, Benchmark factored in the company's "diversified business model" following the completion of its merger with U.S. Bitcoin Corporation. This includes multiple new revenue streams from self-mining, managed services, hosting, high-performance computing and artificial intelligence. Source https://t.me/Blockchain_Explained

💰 Shiba Inu (SHIB) Torches 392M Tokens As Burn Rate Shoots 57,000% Shiba Inu’s (SHIB) burn rate, a crucial growth metric, has seen more than 57,000% in the last 24 hours, indicating a major push to boost its deflationary status. This implies that 396,286,654 SHIB have been burned within 24 hours. This burn rate is one of the largest that the dog-themed altcoin has seen in the last few weeks. On April 14, Shiba Inu saw a massive surge in its burn rate metrics that contributed to solidifying its deflationary status. Source https://t.me/Blockchain_Explained

💰 93 Blocks, $71 Million in Fees: Bitcoin Mining Revenue Booms Post-Halving Since the halving, miners have successfully extracted 93 blocks, accumulating a significant 1,087.99 bitcoins valued at approximately $71.04 million solely from transaction fees. As of 2:00 p.m. EDT on Saturday, the current metrics indicate a high-priority transaction cost of 492 satoshis per virtual byte (sat/vB), equivalent to $44.83 per transfer. Source https://t.me/Blockchain_Explained

🟠 Binance tax evasion trial moved to May 17 in Nigeria The tax evasion trial in a Nigerian court involving cryptocurrency exchange Binance and two of its executives has been adjourned to May 17. This delay occurred because the exchange had not yet been formally served with the charges. The FIRS lawyer argued that Gambaryan should represent Binance as the primary defendant, had been served, given that both Binance and its executives were charged together. Source https://t.me/Blockchain_Explained