Crypto Magazine

🪙 Mt Gox Trustee and Mark Karpeles weigh in on the estate moving $9.8 billion of bitcoin Earlier today, $9.8 billion of bitcoin from multiple wallets associated with Mt Gox was consolidated into a single wallet without prior warning from the Mt Gox Trustee, causing some alarm among creditors. "Under the Rehabilitation Plan, the Rehabilitation Trustee is preparing to make repayment for the portion of cryptocurrency rehabilitation claims to which cryptocurrency is allocated," the Trustee said. Source @CryptoMagazine

🪙 ETF approvals will boost Ethereum’s long-term growth despite short-term headwinds – Kaiko Research Kaiko Research said on May 27 that spot Ethereum ETF approvals are a positive sign for the digital asset’s long-term growth despite potential short-term headwinds. According to Kaiko’s report, the approval has removed much of the regulatory uncertainty around Ethereum’s classification as an asset class. Will Cai, Head of Indices at Kaiko, said the approval means the SEC is implicitly treating ETH as a commodity rather than a security. Source @CryptoMagazine

♦️ Polkadot celebrates 4 year anniversary with unanimous JAM upgrade approval The Polkadot community celebrated the blockchain’s fourth anniversary by ratifying the highly anticipated Join-Accumulate Machine (JAM) upgrade. The proposal received unanimous support, with backing from over 31 million DOT tokens. JAM is a decentralized hybrid system offering secure and scalable smart contract functionalities by merging features from Ethereum within Polkadot’s framework. Source @CryptoMagazine

📉 Friend.tech price drops over 20% after co-founder Racer hints at leaving Base The native token for Web3 social networ Friend.tech fell sharply today after the protocol's co-founder, known pseudonymously as Racer, publicly expressed a desire to leave Base, the Coinbase-created Ethereum Layer-2 network that hosts the project. "System design bounty: If you can figure out a way to migrate friendtech off of Base without causing major issues for users, and it works well enough that we decide to use it, we will pay you $200K," Racer wrote on X. Source @CryptoMagazine

💰 Bitcoin white paper returns to Bitcoin.org website The Bitcoin white paper has been reuploaded to the Bitcoin.org website after Craig Wright’s unsuccessful court attempt to prove he is Satoshi Nakamoto, the protocol’s pseudonymous creator. Hennadii Stepanov, the maintainer of the Bitcoin.org website, announced the return of the Bitcoin white paper by sharing a link to the white paper PDF on platform X. Source @CryptoMagazine

💰 Bitcoin miner Marathon Digital partners with Kenya on renewable energy projects Bitcoin mining firm Marathon Digital Holdings is partnering with Kenya's Ministry of Energy and Petroleum (MOEP) on several renewable energy projects. Marathon Digital and the MOEP will come up with a series of bitcoin-based renewable energy projects in Kenya. To facilitate that work, the two groups will establish a committee charged with steering the development and implementation of those energy-related projects across the African nation, according to a joint statement. Source @CryptoMagazine

🇺🇸 SEC approves 8 🪙 Ethereum ETFs including BlackRock and Fidelity The U.S. Securities and Exchange Commission approved eight spot Ethereum ETFs in an ominbus order, confirming a last-minute scramble to get them through. The SEC approved 19b-4 forms for the ETFs from BlackRock, Fidelity, Grayscale, Bitwise, VanEck, Ark, Invesco Galaxy and Franklin Templeton. While the forms have been approved, the ETF issuers need to have their S-1 registration statements go effective before trading can begin. Source @CryptoMagazine

💰 Bitcoin Difficulty Rises 1.48% Reaching 84.38 Trillion at Block 844,704 Bitcoin’s mining difficulty increased by 1.48% at block height 844,704, reaching 84.38 trillion. This adjustment aligns with Bitcoin’s overall hashrate exceeding the 600 exahash per second (EH/s) mark. On May 23, 2024, at block 844,704, the difficulty adjusted from 83.14 trillion to 84.38 trillion. This rise follows a 5.62% decrease on May 9, 2024, coinciding with a hashprice lower than pre-halving levels. Hashprice refers to the estimated value of one petahash per second (PH/s) of hashing power per day. Source @CryptoMagazine

🟠 Florida court overturns Binance.US suspension order The First District Court of Appeals in Florida has nullified an Emergency Suspension Order (ESO) issued by the Office of Financial Regulation against Binance.US, according to a court filing on May 22. Earlier this year, Florida’s regulator banned Binance.US from serving its residents, citing “immediate danger” to the public as the reason for its decision. The regulator also pointed to Changpeng Zhao’s legal issues, as the founder and former CEO of Binance Holdings pleaded guilty to federal finance charges. Source @CryptoMagazine

🪙 Ether options now biased toward calls for all expiries, analyst says Amid renewed optimism for potential spot ether exchange-traded fund approvals, ether call options are more expensive than put options for all expires — indicating bullish market sentiment — an analyst said. "Put minus call skew is negative across all expiries and increasing further beyond the end-of-June expiry, quite a bullish signal — the basis has also increased to around 14% annualized, another bullish indicator," Deribit CEO Luuk Strijers said in an email sent to The Block. Source @CryptoMagazine