The US SEC has approved the 19B-4 forms for 8 spot Ethereum ETFs, but the issuers' S-1 forms still need approval

The US Securities and Exchange Commission (SEC) has approved plans for spot Ethereum ETFs from the New York Stock Exchange, Chicago Board Options Exchange, and Nasdaq. The SEC has not yet fully approved the spot Ethereum ETFs, as the issuers' plans still need approval. Specifically, the SEC has approved the 19B-4 forms for 8 spot Ethereum ETFs, including those from BlackRock, Fidelity, and Grayscale. Although the forms have been approved, ETF issuers need to have their S-1 registration statements become effective before trading can begin. The SEC has just started discussions with issuers regarding the S-1 forms, and it is unclear how long this process will take, but some analysts speculate it could take several weeks. Bloomberg ETF analyst James Seyffart added, "I think if they work very hard, it can be done in a few weeks, but historically, there are many examples where this process has taken more than 3 months."

Later news indicated that the approval of the spot Ethereum ETFs was a decision made by the SEC's Division of Trading and Markets on behalf of its commission; some analysts suggest that the SEC's ETF decision implies that ETH and "many" other tokens are not securities. Previously, the SEC chairman stated that not every cryptocurrency token is a security; the SEC has legal tools regarding cryptocurrencies but needs more resources.

The US House of Representatives voted to pass a bill prohibiting the Federal Reserve from issuing CBDCs

According to CoinDesk, the US House of Representatives voted to pass the "CBDC Anti-Surveillance State Act," with 213 Republicans and 3 Democrats voting in favor, and 192 Democrats voting against. The bill, introduced by House Majority Whip Tom Emmer, aims to prevent the Federal Reserve from issuing central bank digital currencies (CBDCs). Republicans expressed concerns that CBDCs could be used to control Americans. Democrats argued during the debate before Thursday's vote that these concerns were exaggerated and that the ban would hinder public sector innovation and research.

The Hong Kong Securities and Futures Commission is in talks to allow Ethereum ETF issuers to stake

According to Tree News, the Hong Kong Securities and Futures Commission is in talks to allow Ethereum ETF issuers to stake.

The deadline for Biden to make a final decision on the resolution to repeal SAB 121 has been extended to June 3

Cody Carbone, Chief Policy Officer of the cryptocurrency advocacy organization The Digital Chamber, stated on the X platform: "Update on the SAB 121 (crypto accounting policy) process: We have received confirmation that the US Congress only sent the resolution H.J Res 109 to repeal SAB 121 to Biden last night. This changes the 10-day deadline. The US President now has until June 3 to decide whether to veto this resolution (excluding Sundays, a total of 10 days)."

Previously, the resolution to overturn SAB 121 was passed by the House of Representatives on May 8 and the Senate on May 17, and Biden was expected to make a final decision on the resolution by May 28.

Market news: Coinbase loses Supreme Court case regarding Dogecoin dispute

According to Jin10, market news indicates that Coinbase (COIN.O) lost the Supreme Court case regarding the Dogecoin dispute.

BlackRock's spot Ethereum ETF has been listed on the DTCC website

According to WatcherGuru, BlackRock's spot Ethereum ETF has been listed on the DTCC website with the code ETHA. It is reported that listing on the DTCC website is part of the "standard process" for launching a new ETF and does not indicate any regulatory approval or other approval process results.

ETF issuer VanEck has submitted a revised S-1 application form for the spot Ethereum ETF

Previously reported, the SEC has approved the 19B-4 forms for 8 spot Ethereum ETFs, but the issuers' S-1 forms still need approval. Currently, ETF issuer VanEck has promptly submitted a revised S-1 application form for the spot Ethereum ETF.

The Fantom Foundation has established the Sonic Foundation for its new chain Sonic

According to Cointelegraph, the Fantom Foundation announced the establishment of a new foundation, the Sonic Foundation, to facilitate the launch of the upcoming new Sonic chain. The Sonic Foundation will be responsible for overseeing Sonic's governance, managing network funds, coordinating partnerships, and developing the DApp ecosystem. It is reported that Sonic will consist of a new Layer 1 solution and a built-in Layer 2, which can directly bridge the EVM-compatible network to the Ethereum network. Through the architecture of the Sonic Chain, users of the upcoming Sonic network will be able to leverage Ethereum's vast decentralized applications, liquidity providers, and community ecosystem.

Previously, the Fantom community passed the first proposal to "build the Sonic chain," intending to support a 1:1 exchange of FTM and S tokens. Earlier today, it was reported that the Fantom Foundation completed a $10 million strategic financing round, led by Hashed.

Figure Markets purchased 784,000 SOL for $80 million at an auction

According to The Block, in a recent asset auction (conducted by the FTX estate), Figure Markets purchased 784,000 SOL for $80 million, at a unit price of $102.

Coinbase will launch perpetual futures contracts for Bonk, FLOKI, and Shiba Inu on May 30

According to an official announcement, Coinbase International Exchange and Coinbase Advanced will add support for perpetual futures contracts for Bonk, FLOKI, and Shiba Inu. The 1000BONK-PERP, 1000FLOKI-PERP, and 1000SHIB-PERP markets will open at or after 5:30 PM Beijing time on May 30, 2024.

Coinbase has launched AVAX staking service

Coinbase Assets tweeted that the AVAX staking service has been launched today, with an annual yield of up to 4.47%.

Degen: 3.6 million DEGEN tokens have been refunded to users who lost funds on the Reservoir Relay bridge due to the Degen chain failure

According to Degen's official Twitter, 3.6 million $DEGEN tokens have been refunded to users who lost funds on the Reservoir Relay bridge due to the Degen chain failure. Degen stated that it will continue to support all users affected by this failure. Degen also mentioned that adding liquidity to the centralized liquidity pool on Aerodrome this week will yield extremely high annual returns, which is worth noting.

Coinbase will resume XRP trading support in New York

Coinbase Assets tweeted that XRP is now available to New York residents on the Coinbase website and its iOS and Android apps. Coinbase users can log in to buy, sell, convert, send, receive, or store these assets.

Grayscale launches Stacks and Near Trust funds

According to Decrypt, asset management company Grayscale announced the launch of two new investment trusts: Grayscale Near Trust and Grayscale Stacks Trust, providing investors with exposure to Bitcoin Layer-2 Stacks and Near Protocol. These trusts are limited to accredited investors.

Ligo Network officially launches IDO on Fjord Foundry auction platform

Ligo Network (BTC layer2) officially announced that its mainnet has been launched and has passed due diligence and KYC certification on the IDO platform Fjord Foundry. The Ligo Network IDO officially started on May 23 and will continue until 12:00 PM (UTC+8) on May 26. It is reported that Fjord Foundry, as a liquidity bootstrapping pool (LBP) platform, has successfully helped multiple projects raise over $954 million in total funds, such as NuLink ($5.2 million), XSwap ($2.74 million), FJO ($15.35 million), APUFF ($9.05 million), and Zero1 ($10.78 million).

Swell increases its first-season token distribution ratio from 7% to 8%

Liquidity re-staking platform Swell Network announced that it is finalizing the necessary arrangements for the token generation event (TGE), including auditing rswETH withdrawals, but the exact date of the TGE is still undetermined and is expected to take place in the coming weeks. To express gratitude for users' patience, Swell will increase the first-season (The Voyage) token distribution ratio from 7% to 8% and establish mechanisms to reward the loyalty of long-term community members in the airdrop. Swell Network stated that due to the uncertainty of the audit results and the priority on security, the specific TGE date cannot be determined. Although this process has been delayed compared to the initial expectation of April, Swell apologizes for the delay. The platform also emphasized that Sybils will not be rewarded. Swell also mentioned that Justin Sun is not eligible for the first-season (The Voyage) airdrop rewards due to his deposit of weETH in the Swell L2 pre-launch deposit.

STEPN launches new social lifestyle app STEPN GO, which allows users to earn GGT tokens by walking or running

According to official news, STEPN has launched the latest social lifestyle app, STEPN GO. The app combines exercise and social interaction, offering users various reward features: the Haus System, which does not require crypto knowledge, allows users to lend Sneakers to friends and family to help them get started easily; users can earn GGT tokens by walking or running.

Earn new GO GAME TOKEN (GGT) by walking; create unique outfits and showcase them on the interactive map within the app to stand out in the community; users need to burn Sneakers to gain energy and increase the energy cap, ensuring economic sustainability. These features will be gradually rolled out to ensure smooth integration and optimal user experience. Additionally, STEPN GO will launch an Alpha lottery event, giving participants a chance to win the first batch of 6,000 STEPN GO Sneakers.

Layer 2 network Plume Network completes $10 million seed round financing, led by Haun Ventures

According to The Block, Layer 2 network Plume Network, which focuses on on-chaining real-world assets (RWA), has raised $10 million in a seed round led by Haun Ventures. Other investors include Galaxy Ventures, Superscrypt, A Capital, SV Angel, Portal Ventures, and Reciprocal Ventures. Plume Network co-founder and CEO Chris Yin stated that the company began negotiations with investors in April and ultimately raised four times the planned amount, concluding the financing earlier this month. Previously, Plume Network had raised $1.6 million through a Simple Agreement for Future Equity (SAFE) and a token warrant round, with the final amount of that round being $2 million, part of the $10 million seed round announced today. Plume Network is a modular Layer 2 network compatible with the Ethereum Virtual Machine (EVM), designed to compliantly on-chain various asset classes through efficient and secure blockchain technology. Currently, Plume is in a private testnet, with over 80 RWA and DeFi projects building on its network, including collectibles, alternative assets, synthetic assets, luxury goods, real estate, lending protocols, and perpetual decentralized exchanges. Plume Network plans to launch a public incentivized testnet in the coming weeks and a mainnet later this year. The funds from this round will be used to expand the team, particularly in engineering, marketing, and community functions.

ZK hardware startup Cysic completes $12 million pre-A round financing, led by HashKey Capital and OKX Ventures

According to CoinDesk, zero-knowledge (ZK) hardware startup Cysic announced the completion of a $12 million pre-A round financing, led by HashKey Capital and OKX Ventures. The new funds will be used to accelerate the generation of ZK proofs in a faster, more cost-effective, user-friendly, and decentralized manner. Previously, Cysic completed a $6 million seed round in February last year, led by Polychain Capital, with participation from Hashkey, SNZ Holding, A&T Capital, ABCDE, and Web3.com Ventures.

Fantom Foundation completes $10 million strategic financing, led by Hashed

According to The Block, Fantom Foundation completed a $10 million strategic financing round, led by Hashed, with participation from UOB Ventures, Signum Capital, Aave Foundation, and angel investors Stani Kulechov, Robert Leshner, Michael Egorov, Fernando Martinelli, Tarun Chitra, and Sam Kazemian. The funds from this round will be used to support the Sonic Foundation and strategic growth and ecosystem development, focusing on enhancing the liquidity of automated market makers and blue-chip pools in the money market. Additionally, Fantom Foundation announced plans to establish the Sonic Foundation and Sonic Labs before launching the Sonic blockchain. The Sonic Foundation will manage governance and funds, while Sonic Labs will focus on developing decentralized applications.

Over the past 12 hours, $321 million in contracts were liquidated across the entire network, mainly long positions

According to Coinglass data, $321 million in contracts were liquidated across the entire cryptocurrency market over the past 12 hours, with $240 million in long positions and $80.87 million in short positions. The total liquidation amount for ETH was $124 million, and for BTC, it was $66.61 million.

Data: Grayscale Ethereum ETF discount rate has narrowed to -7.19%

According to The Block data, the discount rate of the Grayscale Ethereum ETF (ETHE) has narrowed to -7.19%. Previously, the SEC approved the 19B-4 forms for eight Ethereum spot ETFs, including Grayscale.

U.S. Bitcoin spot ETFs now hold over 850,000 BTC

According to CoinDesk, the holdings of U.S. Bitcoin spot ETFs have reached a new high, exceeding 850,000 BTC. Grayscale's GBTC holds the most Bitcoin, valued at over $20 billion, followed by BlackRock's IBIT at $19.6 billion, while the Hashdex Bitcoin ETF holds the least, at $12 million.

MEV trading firm Symbolic Capital Partners sold 6,968 ETH worth $27.38 million in one minute

According to Ai Aunt monitoring, half an hour ago, ETH briefly fell below $3,800, possibly driven by MEV trading firm Symbolic Capital Partners. The firm sold 6,968 ETH worth $27.38 million in one minute at 20:56, with an average selling price of $3,930. One transaction on-chain sold 3,497 ETH at once, with a bribe fee of 90 ETH.

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