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🏦 Coinbase says market 'underestimating' timing and odds of spot 🪙Ethereum ETF approval Coinbase analyst David Han said the market may be underestimating the chances of a potential spot Ethereum exchange-traded fund approvals, despite broad market consensus that won’t happen anytime soon. “Ether may yet have the potential to surprise to the upside in the coming months [and] does not appear to have major sources of supply-side overhangs such as token unlocks or miner sell pressure.” Source https://t.me/Crypto_Futures_Trading

🇺🇸 US lawmakers vote in favor of repealing controversial SEC accounting rules for crypto The US Senate voted in favor of repealing the SEC’s Staff Bulletin 121 (SAB 121) on May 16. In all, 60 Senators voted in favor of HJ Res. 109, a resolution to overturn the bulletin, while 38 Senators voted against it. The results show bipartisan support for reversing the SEC rule. Of the 60 Senators who voted in favor of the resolution, 11 were Democrats, 48 were Republicans, and one was independent. Source https://t.me/Crypto_Futures_Trading

🪙 MakerDAO founder says fully decentralized 'PureDai' will launch in few years MakerDAO founder Rune Christensen said a future token, PureDai, will serve as a fully decentralized alternative to its U.S. dollar-pegged stablecoin. Known as PureDai, the stablecoin will operate exclusively on the Ethereum mainnet and use ether and Lido staked ether (stETH) as collateral backing — fully relying on decentralized oracles. It will also have a free-floating peg, meaning the decentralized stablecoin may not be pegged to the dollar. Source https://t.me/Crypto_Futures_Trading

⚪️ Worldcoin open-sources revamped biometric data system Worldcoin Foundation has introduced a new system using Secure Multi-Party Computation (SMPC) for biometric template protection, developed with cryptography engineers from TACEO. The advancement has allowed the foundation to securely delete the previous iris code system. The move is part of the foundation’s effort to be more transparent after multiple countries raised concerns over its data collection practices. Source https://t.me/Crypto_Futures_Trading

🪙 Ether options traders brace for end-of-month volatility around ETF decision deadline Ether options traders are gearing up for end-of-month volatility due to the strong possibility that the U.S. Securities and Exchange Commission (SEC) will not approve two spot ether ETF filings. According to Wintermute OTC Trader Jake Ostrovskis, the market currently assigns just a 16% chance of these ETFs being approved by the end of May. Ostrovskis added that ether options implied volatility will likely rise towards the end of the month, especially around the time when the SEC is expected to make decisions regarding spot ether ETFs. Source https://t.me/Crypto_Futures_Trading

🪙 Tornado Cash developer Alexey Pertsev sentenced to 64 months: report Tornado Cash developer Alexey Pertsev was convicted on money laundering charges. A Dutch court convicted Pertsev, 31, of laundering $1.2 billion in crypto through the Tornado Cash mixer between July 9, 2019, and Aug. 10, 2022, DL News reported. A three-judge panel sentenced the developer to five years and four months in prison. “Tornado Cash in its nature and functioning is a tool intended for criminals,” one of the judges overseeing the case reportedly said. Source https://t.me/Crypto_Futures_Trading

🟠 Binance Kazakhstan Secures ISO Certifications for Security and Privacy Binance Kazakhstan has been awarded the ISO 27001 and ISO 27701 certifications, marking significant recognition for its robust information security and privacy management systems. These certifications, issued by the British Standards Institution after a thorough audit, affirm Binance’s compliance with the highest industry standards. Source https://t.me/Crypto_Futures_Trading

🇭🇰 Hong Kong's crypto ETF approvals had Bitcoin Asia attendees eyeing the mainland: SCMP Bitcoin Asia, a conference hosted by Bitcoin Magazine from May 9-10, drew over 5,500 attendees to Hong Kong this year, alongside hundreds of speakers and sponsors. It's no surprise that the conference ended up in Hong Kong; keen investors have paid a close eye to the city's recent embrace of crypto, from hosting Web3 events to its much-hyped approval of Asia's first six spot Bitcoin and ether ETFs. Source https://t.me/Crypto_Futures_Trading

🇰🇷 South Korea's 💰 Bitcoin Premium Narrows, Yet Remains Above Global Average Recent figures show that despite bitcoin’s downturn in price, premiums in South Korea have diminished yet remain around $1,800 to $2,000 higher than BTC’s weighted global average price. Further metrics reveal that the South Korean won still ranks as the second most traded fiat currency against bitcoin, accounting for 2.07% of all spot bitcoin trades, only behind the U.S. dollar. Source https://t.me/Crypto_Futures_Trading

🇺🇸 DOJ Said to Snub Sullivan & Cromwell, Appoint Competitor to Coveted 🟠 Binance Monitorship: Bloomberg The Department of Justice (DOJ) has chosen a London-based consulting firm for a coveted three-year monitorship of Binance, according to a Friday report from Bloomberg citing anonymous sources. DOJ earlier this year, the crypto exchange agreed to pay $4.3 billion in fines and appoint an independent compliance monitor. The firm’s CEO and co-founder Changpeng “CZ” Zhao also agreed to step down as part of the agreement, and was sentenced to four months in prison. Source https://t.me/Crypto_Futures_Trading

🇺🇸 U.S. House's McHenry Says Bill on Crypto Market Structure Will Get Floor Vote The most comprehensive U.S. cryptocurrency legislation to so far make it through a congressional committee will get even further, with the entire House of Representatives set to vote on whether to approve it soon, according to Rep. Patrick McHenry (R-N.C.), the chairman of the House Financial Services Committee. The House Rules Committee approved the legislation for a vote next month, potentially pushing it toward a high-water mark for crypto legislation in the U.S. Source https://t.me/Crypto_Futures_Trading

🟠 Binance Reportedly Fired Investigator Who Discovered Market Manipulation at Client Company Binance and DWF Labs have refuted market manipulation claims in a WSJ report, with the former stating that the company is intolerant to market abuse. With Binance founder and former CEO Changpeng “CZ” Zhao recently sentenced to four months imprisonment, a WSJ report is alleging that the crypto exchange giant fired one of its investigators who exposed market manipulation by one of the company’s clients, DWF Labs. Source https://t.me/Crypto_Futures_Trading

🇨🇦 Canadian financial regulator fines 🟠 Binance 6 million CAD over money laundering violations The Financial Transactions and Reports Analysis Centre of Canada (FINTRAC) issued a regulatory action against the crypto exchange giant Binance for allegedly violating money laundering rules. The regulator cited two violations: failing to register as a foreign money services business with FINTRAC and failing to report a virtual currency transaction surpassing $10,000 in a single trade. Source https://t.me/Crypto_Futures_Trading

📊 Crypto Monthly Trading Volume Drops for First Time in Seven Months to $6.58T Cryptocurrency trading volume cooled in April, registering the first decline in seven months as escalating geopolitical tensions and slower inflows into U.S.-listed spot ETFs weighed over the digital assets market. The cumulative volume in spot and derivatives markets fell by 43.8% to $6.58 trillion, a sharp retracement from March’s record high of $9.12 trillion, according to a report by London-based digital assets data provider CCData. Source https://t.me/Crypto_Futures_Trading

🇺🇸 Biden Admin To Kill Republican Bill Letting U.S. Banks Custody Crypto A Republican-led effort to free American banks to provide crypto custody services has been shut down by the Democrat-led White House. On Wednesday, the House of Representatives discussed and prepared to vote on House Resolution 109 (H.J. Res. 109), which would strike down prior accounting guidance from regulators to banks planning to offer the service to customers. Source https://t.me/Crypto_Futures_Trading

🪙 NYSE Arca withdraws Grayscale’s futures ETH ETF 19-b4 filing The US SEC reported a critical Grayscale withdrawal on May 7 that could have broad implications for spot Ethereum ETFs. Specifically, NYSE Arca withdrew a 19-b4 filing containing a proposed rule change through which it intended to list and trade shares of Grayscale’s Ethereum Futures Trust ETF. NYSE Arca withdrew the proposal on May 3, days before the SEC notice. The regulator would have been required to decide on the proposed rule change by May 30. Source https://t.me/Crypto_Futures_Trading

🪙 Chainlink Chosen as Technology Partner for HKDR Hong Kong Dollar Stablecoin On May 7, the crypto oracle solutions provider announced that RD Technologies was integrating Chainlink CCIP and Proof of Reserve to power its Hong Kong dollar stablecoin. Chainlink’s Cross-Chain Interoperability Protocol will be integrated to enable secure and reliable cross-chain transfers of HKDR and easier access to the new stablecoin. Additionally, the firm is also adopting Chainlink’s Proof of Reserve (PoR) to help provide reliable on-chain verification of HKDR’s reserve backing, according to the announcement. Source https://t.me/Crypto_Futures_Trading

💰 Bitcoin options traders bet on a bullish September price move above $100,000, analysts say Analysts are observing bullish conditions in the bitcoin options market following the digital asset's bounce back on Friday — an uptick sustained throughout the weekend and into early week trading. QCP Capital analysts say bitcoin risk reversals have gone positive, with calls now more expensive than puts. This suggests a bullish sentiment among investors, as they are willing to pay more for options that benefit from a rise in bitcoin than options that protect against a decline in price. Source https://t.me/Crypto_Futures_Trading

🇺🇸 SEC punts Galaxy spot 🪙 Ethereum ETF decision to July The United States Securities and Exchange Commission has delayed its decision on Galaxy Invesco’s application for a spot Ether exchange-traded fund (ETF). “The Commission finds that it is appropriate to designate a longer period within which to issue an order approving or disapproving the proposed rule change so that it has sufficient time to consider the proposed rule change and the issues raised therein,” the SEC wrote. Source https://t.me/Crypto_Futures_Trading

🏦 Bitfinex CTO Paolo Ardoino confirms supposed database breach was 'fake' After initially suspecting it, Bitfinex's chief technology officer, Paolo Ardoino, has now definitively confirmed that the allegations of a database breach were "fake." "As I said on Saturday, Bitfinex's user database was not breached," Ardoino told The Block. "We spent the weekend reviewing all internal data to avoid leaving any stone unturned. We concluded that the claim was fake, as suspected from the beginning.". Source https://t.me/Crypto_Futures_Trading

💰 Bitcoin will ‘propel the next leg up’ if key trading pattern confirms — Traders Bitcoin’s price could see a bullish trend reversal and “propel the next leg up” if the popular trading indicator known as the inverse head-and-shoulders pattern is confirmed, according to a crypto trader. “If we don’t break straight through $67.5k then something like this forming over the next month would make sense for a bottom pattern reversal,” crypto trader Matthew Hyland explained in a May 4 post on X. Source https://t.me/Crypto_Futures_Trading

💰 Sui creator says crypto’s “ChatGPT moment” coming as protocol celebrates mainnet's first year After a busy 12 months that included launching on mainnet and the announcement of fresh partnerships with TikTok parent ByteDance and Google, Mysten Labs, creator of the Layer 1 Sui protocol, is confident that blockchain tech is about turn the proverbial corner. “The killer app for web3 is coming. The ChatGPT moment is coming soon,” Evan Cheng, CEO and co-founder of Mysten Labs told The Block, adding the current bull run is coinciding with web2 tech giants expressing more interest in blockchain than before. Source https://t.me/Crypto_Futures_Trading

⚪️ Paypal Partnership Allows US-Based Moonpay Users to Buy Crypto With Their Paypal Accounts The digital asset trading platform, Moonpay, announced on May 2 that it had formed a partnership with Paypal. This partnership will allow U.S. users to purchase cryptocurrency using their Paypal accounts. Users of Moonpay can benefit from the security offered by Paypal, a payment provider known for sharing comprehensive financial information about transactions. Source https://t.me/Crypto_Futures_Trading

🪙 Saylor predicts SEC will designate Ethereum as a security and deny spot ETF applications this summer MicroStrategy executive chairman and co-founder Michael Saylor believes the SEC will classify Ethereum as a security this summer and reject the related spot ETF applications filed by various asset managers, including BlackRock. Saylor made the prediction in a social media post on May 2 during a presentation at the MicroStrategy World 2024 conference. He further predicted that other cryptos “down the stack” will also gain an unregistered security designation, including BNB, Solana (SOL), XRP, and Cardano (ADA). Source https://t.me/Crypto_Futures_Trading

💰 Terraform Labs' lawyers push back against 🇺🇸 SEC, argue token sales were mostly outside US Lawyers for Terraform Labs pushed back against the Securities and Exchange Commission after the agency requested them to pay billions of dollars in fines. Terraform's offer and sales of tokens happened "almost entirely outside the U.S." the firm's lawyers argued in a brief filed on Wednesday. Meanwhile, the SEC has argued that the firm "targeted U.S. investors" and says they should pay $5.3 billion in fines, most of that being in disgorgement. Source https://t.me/Crypto_Futures_Trading

💰 Bitcoin's average daily transaction fees fall back to 🪙 Ethereum levels after Runes hype subsides Average daily Bitcoin transaction fees have fallen back to the same level as Ethereum after the frenzy of activity surrounding the launch of the Runes protocol died down after the halving. The seven-day moving average of daily Bitcoin transaction fees surged to an all-time high of $25.8 million on April 24, more than five times the daily transaction fees Ethereum was generating at the time. However, it subsequently fell to $4.1 million on Wednesday — the same daily transaction fee average as Ethereum. Source https://t.me/Crypto_Futures_Trading

🔵 Aave Labs debuts V4 roadmap in series of governance proposal Aave Labs unveiled a trio of governance proposals on Wednesday to guide its development of Aave V4. The Aave V4 roadmap, which is in the advanced research stage, proposes several improvements to Aave’s lending platform, such as improved support for its native GHO stablecoin and lower transaction fees, the protocol said Wednesday in a post on its governance forum. Source https://t.me/Crypto_Futures_Trading

🇺🇸 US Spot Bitcoin ETFs Report 5 Straight Days of Outflows, Totaling $635 Million Since April 24, 2024, U.S. spot bitcoin ETFs have experienced five straight days of net outflows totaling $635 million. The most significant reduction occurred last Thursday, when BTC-centric ETFs offloaded $217.6 million. Yesterday’s activity ranked as the second highest, with $161.6 million exiting the funds. Notably, GBTC has consistently posted outflows daily since it began trading on Jan. 11, 2024, shattering all previous ETF outflow records ever documented. Source https://t.me/Crypto_Futures_Trading

💰 Bitcoin retraces back to critical monthly all-time high support level from 2021 Bitcoin will close April down this evening following a drawdown of roughly 15% since the start of the month. The close of the monthly candle will mark the end of seven successive green candles and the end of a record-making streak. Bitcoin opened the month with a new all-time high for a monthly candle close at around $71,200. The previous high was around $60,500, set in 2021 when Bitcoin traded again as of press time. Source https://t.me/Crypto_Futures_Trading

🇭🇰 Hong Kong's six spot bitcoin, ether ETFs see $11 million in volume on first trading day Hong Kong’s six new spot bitcoin and ether exchange-traded funds recorded over HK$87.5 million ($11.2 million) in trading volume on their first trading day on Tuesday — a figure that pales in comparison to the $4.6 billion first-day volume for the 11 spot bitcoin ETFs in the United States in January. China Asset Management (ChinaAMC) told The Block that its spot bitcoin ETF secured $121.7 million in assets under management (AUM) as of the end of the first trading day, while its spot ether ETF had $20.4 million in AUM. Source https://t.me/Crypto_Futures_Trading