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The main news this week is that the SEC has suspended its investigation into Ethereum. Regulators have now halted attempts to classify ETH as a security due to pressure from Ethereum developer Consensys.
Despite the SEC's suspension of its investigation, Consensys decided to proceed with its lawsuit against the regulator. Let’s find out more.
Bitcoin
UK-based Standard Chartered has officially established a spot Bitcoin and spot Ethereum trading desk. The London-based desk will soon begin operations and become part of the bank's FX trading department.
MicroStrategy further solidified its position as the largest corporate holder of Bitcoin by acquiring 11,931 BTC for $786 million, bringing its total holdings to 226,331 BTC, worth nearly $15 billion.
The VanEck Bitcoin Exchange Traded Fund (ETF) reached a significant milestone when it launched on the Australian Stock Exchange (ASX) on June 20.
Ethereum
In a major win for the cryptocurrency industry, the SEC has halted its investigation into whether ETH is a security after Consensys sent a letter to the commission requesting clarification on the Ether category upon approval of the spot Ethereum ETF.
Leading Ethereum software company Consensys is pursuing a lawsuit against the SEC to increase regulatory clarity for the cryptocurrency sector, even after the SEC concluded a 14-month investigation into Ethereum developers.
In 2017, Vitalik Buterin and Joseph Poon proposed Plasma as a new solution to bring Visa-level transaction volumes (reported at 1,700 to 4,000 transactions per second) to the Ethereum network.
security
On June 9, cryptocurrency exchange Kraken revealed that it had been exploited by security researchers, stealing $3 million worth of assets from its platform. Blockchain security company CertiK identified itself as a security researcher after it said it had alerted Kraken to an exploit that could have drained millions of dollars from exchange accounts.
CBDC
Swiss digital asset specialist Nabatech selected Polkadot's Substrate blockchain to build a digital asset platform for central banks and financial institutions after a thorough analysis of seven potential platforms.
regulation
Tyler and Cameron Winklevoss each donated $1 million in Bitcoin to support former President Donald Trump's re-election campaign due to the Biden administration's hawkish stance on cryptocurrencies.
David Hirsch, head of the SEC's cryptocurrency assets and cyber division, has left the SEC after stepping down from his position.
Billionaire and cryptocurrency advocate Mark Cuban said at Coinbase's State of Crypto Summit 2024 that Gary Gensler and his actions as head of the SEC could ruin President Joe Biden's re-election bid.
Disclaimer: This article is provided for informational purposes only. It is not provided or intended to be used as legal, tax, investment, financial or other advice.
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