The U.S. Securities and Exchange Commission (SEC) is expected to decline spot Ethereum exchange-traded fund (ETF) applications next month, according to Reuters. The regulator’s anticipated refusal of Ethereum ETFs contrasts with its earlier sanctioning of Bitcoin ETFs, which have garnered substantial investor interest. According to four people who reportedly participated in meetings with the SEC, current applications are expecting rejections due to unfruitful discussions with the securities regulator. The lack of engagement observed in these meetings, compared to those preceding the Bitcoin ET ..read more

Keonne Rodriguez and William Lonergan Hill, the founders of Samourai Wallet, have been detained by the U.S. Department of Justice for allegedly laundering over US$100 million and operating an unlicensed money-transmitting service. The arrests are part of a concerted international law enforcement operation targeting the illicit use of “cryptocurrency mixers.” The service provided by Samourai Wallet, which has been downloaded more than 100,000 times, was designed to conceal users’ financial activities and has been implicated in over $2 billion of illegal transactions, the United States Attorney ..read more

NodeMonkes surged to the top of the non-fungible token (NFT) market, recording over US$1.05 million in sales on Thursday, CryptoSlam data shows. The market-leading sales volume pushed NodeMonkes’ all-time sales volume to US$205.01 million, making it the 30th largest NFT collection. It is also sitting at second all-time in total sales volume for a Bitcoin-based collection. The second-highest performing collection of the day was Ethereum-based Bored Ape Yacht Club (BAYC), a blue-chip NFT collection from Yuga Labs, with sales reaching US$1.02 million. The monkey-themed collection’s all-time sales ..read more

Ethereum led Wednesday’s non-fungible tokens (NFT) market with a daily sales volume of over US$7.13 million, according to data from CryptoSlam. Despite recording the highest sales volume for the day, the leading NFT blockchain hasn’t topped US$10 million since April 4. Following Ethereum, Bitcoin followed closely behind in the second spot for daily NFT sales, just under US$7.13 million. Bitcoin had its third consecutive day under US$10 million despite NodeMonkes, a Bitcoin Ordinals NFT, leading Wednesday’s collection rankings. Solana took the third spot in daily NFT sales, posting a daily sale ..read more

Hong Kong is set to launch its inaugural spot Bitcoin and Ethereum exchange-traded funds (ETFs) on April 30, following approval by the Securities and Futures Commission (SFC), Bloomberg reported. These ETFs, managed by Bosera-HashKey Capital and China Asset Management (ChinaAMC), will provide a regulated investment channel for cryptocurrencies, aiming to attract both retail and institutional investors. The ETFs will utilize an in-kind creation model, allowing for the direct exchange of cryptocurrencies for ETF shares, a method not currently used in the United States. The introduction of these ..read more

Changpeng Zhao, the ex-chief executive officer of cryptocurrency exchange Binance, is facing a potential 36-month prison sentence and a US$50 million fine. His sentencing, recommended by the U.S. Department of Justice, is set for April 30. Zhao pleaded guilty to anti-money laundering (AML) law violations last November. Prosecutors are pushing for a harsher sentence than federal guidelines typically suggest, due to Zhao’s “willful failure” to establish a comprehensive AML program at Binance, according to court documents. The exchange’s practices allegedly facilitated various illegal activities ..read more

The U.S. Securities and Exchange Commission (SEC) has postponed its decision on approving spot Ethereum exchange-traded fund (ETF) from Franklin Templeton, initially anticipated for May, to a new deadline of June 11. The SEC also delayed the deadline for the agency’s decision on Grayscale’s spot Ethereum ETF application to June 23. Meanwhile, the SEC is soliciting public feedback on a revised ETF proposal from BlackRock, which now includes a cash redemption model, a change from the original direct Ethereum exchange mechanism. BlackRock’s proposal, initially submitted in November 2023, has been ..read more

The New York Stock Exchange (NYSE) is considering 24-hour stock trading, aiming to mirror the uninterrupted trading environment of cryptocurrency markets. The exchange has launched a survey to gauge market interest and determine safeguards for such an expansion. This initiative is a response to the growing trend of extended trading hours on platforms like Robinhood and Interactive Brokers, though these platforms currently operate with certain restrictions. The NYSE’s exploration of round-the-clock trading is part of a larger shift that has been accelerated by the pandemic, which increased reta ..read more

Ripple Labs, the San Francisco payments technology company, has disputed the Securities and Exchange Commission’s (SEC) proposed US$2 billion penalty, labeling it as excessively harsh and misaligned with judicial precedents. In a recent legal filing, Ripple’s defense team proposed a US$10 million fine, countering the SEC’s claim with arguments of overreach and a lack of evidence for such a severe sanction. The disagreement is part of an ongoing legal battle, with the final decision on penalties awaiting Judge Analisa Torres’s court review. Ripple’s Chief Legal Officer, Stuart Alderoty, has pub ..read more

Blockchain intelligence firm Arkham has discovered millions of dollars in unclaimed cryptocurrency within major bridge contracts, affecting notable addresses including one that belongs to Ethereum co-founder Vitalik Buterin. Cross-chain bridges are essential for transferring assets between different blockchains, addressing interoperability issues in blockchain. The trapped funds, located in the Arbitrum and Optimism bridges, have been left unclaimed for periods ranging from six to 27 months, Arkham said. The investigation pinpointed a wallet that received 50 Ether from Buterin, now holding US ..read more