Uniswap Labs, the innovator behind Ethereum’s leading decentralized trading platform, refuted the US Securities and Exchange Commission’s (SEC) allegations, contending that crypto tokens do not qualify as securities but are akin to file formats such as PDFs. The New York-based startup rebuffed claims of operating an unregistered exchange and broker-dealer, following a Wells notice served…
In a significant market move, the price of ether (ETH) surged more than 10% to $3.4K after Bloomberg analysts substantially increased the likelihood of the U.S. Securities and Exchange Commission (SEC) approving spot ETH exchange-traded funds (ETFs). Previously, markets had largely anticipated SEC rejections of proposed funds this week. Eric Balchunas, Bloomberg’s Senior ETF Analyst,…
After a decade-long tenure at Grayscale Investments, Michael Sonnenshein is stepping down as chief executive officer of the cryptocurrency asset manager. He will be succeeded by Peter Mintzberg, currently serving as the global head of strategy for asset and wealth management at Goldman Sachs Asset Management. Mintzberg is set to assume the role of CEO…
Morgan Stanley (NYSE:MS) disclosed a substantial stake in Grayscale’s Bitcoin Trust , totaling nearly $270 million as of March 31, according to a recent 13F filing. This investment, along with similar disclosures from banking giants like JPMorgan (NYSE:JPM), Wells Fargo (NYSE:WFC), and UBS (NYSE:UBS), underscores growing institutional interest in cryptocurrency among wealth management clients. It’s…
In a significant legal development, a Nigerian court has determined that Binance executive Tigran Gambaryan can be prosecuted on behalf of the cryptocurrency exchange in an ongoing tax evasion case. The case involves Binance and its executives, including Gambaryan, a U.S. citizen serving as head of financial crimes compliance, and British-Kenyan national Nadeem Anjarwalla, who…
The Internet Computer-based Bitfinity platform introduces its Ethereum Virtual Machine, facilitating smart contract execution for Bitcoin protocols and enabling Bitcoin DeFi applications with Runes support. Built on the Internet Computer protocol, Bitfinity integrates with the Bitcoin network, offering asset bridging to other blockchains. Leveraging Ethereum’s smart contract language Solidity, developers can access Bitcoin-based tokens, including…
Bitcoin (BTC-USD) found itself grouped with other speculative investments during the run-up of the Federal Reserve’s last tightening cycle, declining on expectations that higher interest rates would dampen the risk appetite. Now, with optimism growing again that borrowing costs could soon be heading lower, proponents of the biggest cryptocurrency argue that it’s more akin to…
Bank of America (NYSE:BAC) has revised its rating on Coinbase (NASDAQ:COIN) from underperform to neutral, with a raised price target of $217, up from $110. According to the bank’s report, the current macroeconomic environment has fostered growth in crypto market capitalization and trading volumes. While the bank acknowledges positive dynamics, it also highlights risks associated…
The memecoin market has surged, with its market cap reaching $58 billion and posting a 10% gain in the last 24 hours, outpacing the broader cryptocurrency market, which saw a 5.5% increase over the same period. The top five memecoins, comprising around 77% of the total market cap, have seen significant gains. Notably, Shiba Inu…
Shares of Coinbase (NASDAQ:COIN) fell nearly 8% on Thursday, dropping to $202.49, following a Financial Times report that the Chicago Mercantile Exchange (NASDAQ:CME) might soon offer spot bitcoin trading amid strong interest from its clients. Cryptocurrencies were up on the day, with the CoinDesk 20 Index, which tracks 20 of the largest digital tokens by…