According to Odaily, Democratic Senator Dick Durbin from Illinois stated in a Senate Appropriations Subcommittee hearing on Thursday that the FIT21 bill, passed by the U.S. House of Representatives, would grant the Commodity Futures Trading Commission (CFTC) more power and funds to regulate cryptocurrencies. However, some lawmakers are concerned that the responsibilities the CFTC is taking on far exceed their capabilities.

Durbin questioned CFTC Chairman Rostin Behnam during the hearing, asking what made him believe that the CFTC could step into this rapidly changing, vast world and become an effective regulator. In response, Behnam stated that there are regulatory gaps in the 'non-security commodity tokens' and that the CFTC has done well in taking enforcement actions against cryptocurrency entities.

The approval of Ether ETF seems imminent. SEC Chair Gary Gensler recently indicated that the agency could fully approve these investment products by the end of summer 2024. This marks a significant step forward for the crypto market.

Ether ETF Approval Process

Gary Gensler spoke at a Senate hearing about the progress of Ether ETF applications. He mentioned that the final steps involve detailed registration processes. The staff is handling these filings, known as S-1s. Once they approve them, the new ETFs will be listed and available for trading. Gensler mentioned that this process is moving smoothly. The chair emphasized that they already granted the initial round of approvals and are now focusing on completing the remaining details.

  Challenges and Delays in Ether ETF Approval

Despite this progress, there have been delays. Some analysts had predicted that spot Ether ETFs would start trading by June 2024. However, the exact date remains uncertain. Gensler emphasized that while the initial approvals were granted, the final registration details are still being worked out. This has caused some frustration among lawmakers and industry watchers. Tennessee Senator Bill Hagerty questioned Gensler on the delay, urging for a more constructive set of rules for the crypto industry.

Regulatory Authority: SEC vs. CFTC

A key point of discussion is the regulatory authority over crypto assets. Gensler avoided directly answering whether Ether is a commodity. This distinction matters because it determines which agency – the SEC or the Commodity Futures Trading Commission (CFTC) – has oversight. The CFTC Chair, Rostin Behnam, stated that Ether is a commodity. This ongoing debate adds to the complexity of the regulatory environment for crypto. While the SEC oversees securities, the CFTC handles commodities. Gensler’s non-committal stance leaves the classification of Ether in a gray area.

Impact of Ether ETF Approval on the Market

The approval of Ether ETFs will have a significant impact on the market. These ETFs will allow investors to easily trade funds that hold actual Ether. This is similar to how Bitcoin ETFs have made it easier for investors to access Bitcoin. The broader acceptance and regulation of Ether ETFs could lead to increased investment and market stability. Investors are eager for this new opportunity, which promises to make Ether more accessible and potentially more valuable.

Future Outlook

Looking ahead, the approval of Ether ETFs will likely bring more clarity and structure to the crypto market. Furthermore, Gensler has committed to ensuring that the process is thorough and compliant with regulations. Consequently, as they finalize approvals this summer, the market is preparing for a new wave of investment opportunities. Moreover, the journey towards fully approved Ether ETFs reflects the evolving landscape of crypto regulation. With the SEC and CFTC navigating their roles, the market will undergo significant changes. Therefore, investors and industry participants are keenly watching these developments, eagerly awaiting the green light for Ether ETFs.

The SEC’s steps towards approving Ether ETFs mark a pivotal moment. This move not only enhances market accessibility but also highlights the regulatory challenges in the crypto space. As we approach the final approval stages, the anticipation within the investment community continues to build. The upcoming summer could indeed be transformative for Ether and the broader cryptocurrency market.

 

When asked directly whether ETH is a commodity, Gensler didn’t respond with a yes or no, maintaining the uncertain position his agency has held on that asset. At the same hearing, when asked whether it’s a commodity, Commodity Futures Trading Commission (CFTC) chief Rostin Behnam responded, “Yes.”

Source: CoinDesk

The post Ether ETFs Should be Fully Approved by September, Says SEC Chair Gensler appeared first on Crypto Breaking News.

She is the sponsor of a Technology Advisory Committee that includes members stablecoin issuer Circle, blockchain analytics firm TRM Labs and Cryptocurrency custody firm Fireblocks. The committee was created to protect U.S. citizens from cyber attacks, ensure “responsible development of digital assets,” Goldsmith Romero said at the time.

Source: CoinDesk

The post White House Expected to Nominate CFTC Commissioners to FDIC, Treasury Roles: Reports appeared first on Crypto Breaking News.

According to Odaily, the White House is anticipated to nominate members of the U.S. Commodity Futures Trading Commission (CFTC) who are known for their crypto-friendly stance for key positions in the Federal Deposit Insurance Corporation (FDIC) and the U.S. Department of Treasury. Christy Goldsmith Romero, a member of the CFTC, is expected to be nominated as the next chair of the FDIC. In addition, Kristin Johnson, a Democrat member, is also expected to be nominated for the position of Assistant Secretary for Financial Institutions at the U.S. Department of Treasury.

These nominations, if confirmed, could have significant implications for the future of cryptocurrency regulation in the United States. Both Romero and Johnson have been known for their positive views on cryptocurrencies, which could potentially influence the direction of financial regulation in the country. However, their nominations are yet to be officially confirmed by the White House.

TLDR

The U.S. Federal Trade Commission (FTC) has issued a warning about cryptocurrency romance scammers who offer investment advice.

Scammers establish an emotional connection with their victims to gain trust and convince them that they are experts in cryptocurrency investing.

These fraudsters promise high returns, claim there is no risk, and offer to teach investment strategies, but in reality, all investments carry inherent risks.

Scammers often request quick money transfers via gift cards, payment apps, or cryptocurrency, which are methods frequently used by fraudsters.

The FTC advises individuals to immediately cease communication with suspected scammers, report them to the social media platform, and file a report with the FTC.

The U.S. Federal Trade Commission (FTC) has sounded the alarm on a growing trend of cryptocurrency romance scams, urging the public to be vigilant when engaging with potential love interests online.

In these scams, fraudsters pose as romantic partners and exploit emotional connections to convince victims to invest in fraudulent cryptocurrency schemes, often resulting in significant financial losses.

According to the FTC’s consumer alert, issued on Monday, June 10, 2024, scammers typically initiate contact through social media platforms, carefully studying their targets’ profiles to build trust and rapport.

Once a relationship is established, the conversation gradually shifts to investments, with the scammer claiming to prioritize the victim’s financial security and offering expert advice on cryptocurrency investing.

However, the FTC emphasizes that these so-called experts are, in fact, con artists whose sole objective is personal financial gain.

They employ a range of deceptive tactics to lure victims into their schemes, such as promising high returns, downplaying investment risks, and offering to teach specialized investment strategies. In reality, all investments carry inherent risks, and guarantees of profits are simply false promises designed to manipulate and deceive.

One of the most concerning aspects of these romance scams is the emotional manipulation employed by the scammers. By establishing a strong emotional connection with their victims, they create a false sense of trust and credibility, making it more likely for individuals to believe their claims of investment expertise.

This emotional bond also makes it harder for victims to recognize the red flags and walk away from the scam, even when faced with mounting financial losses.

The FTC’s warning comes amidst a growing trend of cryptocurrency-related fraud, with romance scams being a particularly insidious form of deception.

A recent study by the University of Texas revealed that between January 2020 and February 2024, over $75 billion was lost to these schemes, highlighting the scale and severity of the problem.

To protect themselves from falling victim to these scams, the FTC advises individuals to be extremely cautious when engaging with potential love interests online, especially if the conversation turns to investments. Legitimate investment professionals will never pressure clients or guarantee profits, and any such claims should be treated as a red flag.

Scammers often request quick money transfers through untraceable methods such as gift cards, payment apps, or cryptocurrency, which should be another warning sign. If an online love interest makes such requests, it is almost certainly a scam, and individuals should immediately cease all communication with the person in question.

The FTC also stresses the importance of reporting suspected scammers to the relevant social media platform and filing a report with the FTC itself.

By sharing warnings and experiences, individuals can help protect others from falling victim to these devastating scams.

The post Romance Scams: Beware of Online Love Interests Offering Crypto Investment Advice, FTC Warns appeared first on Blockonomi.

According to Odaily, the Federal Trade Commission (FTC) of the United States issued a consumer alert on Monday, cautioning the public to be wary of cryptocurrency scams. The FTC emphasized that if individuals encounter people online offering assistance with cryptocurrency investments, it is likely a scam. The commission further added that these fraudsters promise high returns, claim there are no risks, and provide investment strategies. However, all investments carry inherent risks, and the so-called guaranteed returns are not credible. The FTC's warning serves as a reminder to the public to be vigilant when dealing with cryptocurrency investments and to be skeptical of promises of high returns with no risk.

The U.S. Federal Trade Commission (FTC) has issued an important consumer alert, warning the public about the increasing prevalence of cryptocurrency scams. The alert aims to educate and protect consumers from fraudulent schemes that promise unrealistic returns and deceive individuals into investing in non-existent or frivolous cryptocurrency projects.

Key Points:

The latest CFTC report reveals a sharp increase in Bitcoin hedge fund net shorts, indicating renewed interest in short futures positions.

Following the release of the May non-farm payroll report, Bitcoin and the broader crypto market experienced a setback as hopes of reaching all-time highs were dashed.

In the latest weekly Commodity Futures Trading Commission (CFTC) report, a significant surge in record Bitcoin hedge fund net shorts has been highlighted.

Bitcoin Hedge Fund Net Shorts Surge

While part of this increase may be attributed to basis trading concerning Bitcoin exchange-traded funds (ETFs), the potential for an unexpected catalyst looms, capable of igniting substantial short covering.

Short futures positions, a favored strategy among traders, involve selling futures contracts to profit from or mitigate anticipated declines in the price of the underlying asset. The approach often attracts carry traders or arbitrageurs who short futures while simultaneously purchasing the asset to capitalize on the price differential between spot and futures markets.

The notable accumulation of Bitcoin hedge fund net shorts likely signifies hedge funds' renewed interest in the carry trade.

NFP Report Dampens Crypto Enthusiasm

Despite some recovery in crypto markets from the week's losses, Bitcoin and the broader crypto market experienced a setback on Friday following the release of the May non-farm payroll (NFP) report. The report surpassed analysts' expectations, revealing 272,000 new jobs. This outcome tempered expectations of the Federal Reserve scaling back interest rates, bolstering the dollar's value and dampening hopes of Bitcoin reaching an all-time high before the weekend.

Bitcoin initially flirted with a new all-time high, briefly surpassing the $72,000 mark early on Friday. However, the robust NFP report, released during the early hours of the US session, prompted Bitcoin to shed nearly 4% of its value.

The decline extended to the meme coin category, particularly after GameStop reported disappointing earnings and Keith Gill's—also known as Roaring Kitty—first YouTube livestream in years failed to captivate investors. Dogecoin and Shiba Inu registered losses of 7.6% and 4.4%, respectively, while Pepe, dogwifhat, and Bonk witnessed double-digit declines.

DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

According to Odaily, a new report by Elliptic reveals an increasing use of artificial intelligence (AI) in committing crimes within the cryptocurrency ecosystem. The report highlights that criminals are increasingly utilizing generative AI to create deep fakes and other deceptive materials to carry out cryptocurrency scams. Additionally, there has been a significant rise in AI-related scam tokens, investment platforms, Ponzi schemes, and fake trading bots.

Elliptic points out that scammers often use popular technology and jargon to create tokens or investment plans, which ultimately lead to exit scams. A notable incident involved a fake AI trading bot named iEarn in 2023, which resulted in a loss of approximately $6 million. The surge in AI trading bots prompted a warning from the U.S. Commodity Futures Trading Commission (CFTC) in January.

The report further adds, 'Apart from creating tokens, scammers also use AI as a means of hype on fraudulent investment platforms. Specifically, scammers attempt to leverage the potential of AI to enhance trading or arbitrage capabilities.' Moreover, AI technology is being used to facilitate large-scale cryptocurrency scams and disinformation campaigns.

The US Department of Justice and the Federal Trade Commission (FTC) are set to launch an antitrust probe into Microsoft, OpenAI, and Nvidia’s market power in the AI sector. The DOJ-FTC agreement states that the DOJ will probe Nvidia while the FTC will handle Microsoft and OpenAI.

Also Read: Nvidia Surpasses Apple, Becomes World’s Second Most Valuable Company

Nvidia, with about 80% share of the AI chip market, is facing allegations of anti-competitive practices. The company’s large market share enables it to have high gross margins of between 70% and 80%. The DOJ will examine whether Nvidia’s domination in the market of AI chips is unlawful according to the antitrust laws.

FTC probes Microsoft’s AI investments and partnerships

The FTC will examine Microsoft’s and OpenAI’s practices. Microsoft’s $13 billion investment in OpenAI’s for-profit subsidiary, which translates to a 49% stake, is a focal point. The agency is also probing into Microsoft’s $650 million acquisition of AI startup, Inflection AI, due to suspicions that the deal might not have been reported as a merger.

Microsoft said that the deal with Inflection AI helps to speed up the development of the Copilot program while giving Inflection the ability to continue with its own goals.

Also Read: Meta faces complaints in EU for alleged abuse of personal data to train AI

“Our agreements with Inflection gave us the opportunity to recruit individuals at Inflection AI and build a team capable of accelerating Microsoft Copilot while enabling Inflection to continue pursuing its independent business and ambition as an AI studio. We take our legal obligations to report transactions seriously and are confident that we have complied with those obligations.”

Microsoft spokesperson

Source: Communications Today

The FTC has already launched an investigation into OpenAI for possible violations of consumer protection laws. The probe started in July last year and relates to the alleged infringement of the consumer’s rights concerning their data security. 

“The market inquiry will review the investments and partnerships being formed between AI developers and major cloud service providers.”

FTC Chair, Lina Khan 

Antitrust official highlights the risk of big tech dominance in AI

Speaking at a recent AI conference at Stanford University, DOJ antitrust chief Jonathan Kanter highlighted the importance of examining the structures and trends in the AI industry. Stating that the use of large amounts of data and computational resources can perpetuate the dominance of large companies.

Also Read: OpenAI’s GPT-4o raises privacy and copyright concerns

“Regulators must act quickly to ensure that powerful tech companies do not control the market.”

Jonathan Kanter

The antitrust chief further added that the division will act speedily to map out potential monopoly pressure points in the ballooning AI technology sector.

Binance has announced the resumption of its payment services through Mastercard and Visa.

The new move comes after a period of restrictions following Binance’s legal struggles with the SEC and CFTC.

Mastercard states that its decision to resume its alliance with Binance is the result of severe scrutiny of the exchange.

Binance has announced the reinstatement of crypto payment services through Mastercard and Visa. Binance revealed this decision via a recent X post, stating, “Use Mastercard, Visa, or SEPA for bank transfers and experience seamless transactions!”

Crypto made easy—buy and sell with ease. 🤌Use Mastercard, Visa, or SEPA, for bank transfers, and experience smooth transactions!Try it now 👉🏻 https://t.co/shCZx59fi3 pic.twitter.com/05pzOC3sjh

— Binance (@binance) June 6, 2024

A Binance spokesperson shared insights into the rigorous scrutiny the platform underwent in recent months. The spokesperson asserted:

“Over the past several months, we have reviewed the enhanced controls and processes that Binance has put into place. It is based on those efforts that we have decided to allow Binance-related purchases on our network.”

It is to be noted that Mastercard and Visa had severed their partnerships with Binance amid the exchange’s legal battles with the SEC and the Commodity Futures Trading Commission (CFTC). Back in August 2023, Mastercard announced its decision to discontinue its alliance with Binance in Argentina, Brazil, Colombia, and Bahrain. In October, Binance had to cancel its Visa debit card program in the European Economic Area (EEA).

Following a period of restrictions, Binance has re-enabled the “Buy Crypto” options via Mastercard. The feature allows a maximum one-time purchase of up to 5,000 euros (approximately $5,440) for euro-based transactions and up to $20,000 for U.S. dollar-based purchases. The Binance spokesperson commented:

“Following an extensive review of the rigorous controls and processes that Binance put into place, Mastercard made the decision to allow Binance-related purchases on its network. We look forward to adding support for further products, such as withdrawals, at a later date.”

Mastercard and Visa’s decision to resume their relationship with the crypto exchange signals a potential easing of Binance’s legal challenges. This demonstrates Binance’s initiative to reclaim its position as a leader in the crypto industry, providing customers with flexible and convenient transaction options.

The post Mastercard and Visa Payments Return After a Hiatus on Binance appeared first on Coin Edition.

In August 2023, Binance users were no longer able to utilize Mastercard.

Binance was plagued by legal troubles in the US when the card giant decided to cut ties.

Crypto Exchange Binance, has removed a restriction that had been in place for 10 months that prevented users from using Mastercard to buy cryptocurrencies. With this change, Mastercard holders may freely buy digital assets using their cards.

In August 2023, Binance users were no longer able to utilize Mastercard. Binance was plagued by legal troubles in the US when the card giant decided to cut ties with them. U.S. Commodity Futures Trading Commission (CFTC) and SEC regulatory oversight was another element in the decision-making process.

Possibility of Reinstituting Penalties

A post on Binance X’s account states that the exchange supported Mastercard as a payment option. Following a series of audits by Mastercard of the exchange’s internal processes and infrastructure, a spokesperson from Binance has confirmed the resumption.

Now that it has been approved, purchases relating to Binance may be made on its network. The cryptocurrency exchange has expressed its anticipation of future developments in product and withdrawal support.

The conditionality of the sanction’s lifting was also stressed in a confirmation report from Mastercard. In other words, it’s based on continuous evaluations of Binance’s improved controls and procedures. Implicitly implied is the possibility of reinstituting penalties in the event that the exchange does not fulfill its obligations.

The payment processing behemoth recently announced the launch of Mastercard Crypto Credential’s first peer-to-peer (P2P) test transaction. Users now have another option for exchanging digital assets thanks to this solution. In order to test shared-ledger technology, the worldwide card giant has teamed up with a few prestigious US banks. Encouraging the prompt settlement of tokenized assets is the end goal.

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MasterCard is understood to be resuming services for payments and deposits in crypto on Binance.

Mastercard withdrawal services have not been resumed as yet but this is expected to happen at a later date.

The Binance-branded Visa card has also resumed functionality on the exchange.

Binance can once again allow Mastercard users to purchase cryptocurrencies on the world’s largest exchange, after the card giant switched off that capability in August of 2023.

As well as allowing payments using Mastercard, Binance-branded Visa card has also resumed functionality on the exchange. Withdrawal services using Mastercard will be resumed at a later date, Binance said.

Last year’s decision by the card networks to part ways with Binance happened around the time the exchange was grappling with legal challenges in the U.S., including multiple charges by the U.S. Securities and Exchange Commission (SEC) and U.S. Commodity Futures Trading Commission (CFTC).

“Following an extensive review of the rigorous controls and processes that Binance put into place, Mastercard made the decision to allow Binance-related purchases on its network,” a Binance spokesperson said via email. “We look forward to adding support for further products, such as withdrawals, at a later date.”

Both Visa and Mastercard are enthusiastic about crypto these days, delivering into the Web3 and self-custody wallet space.

Explore how growing stablecoin adoption clashes with complex US regulations, spotlighting Tether's regulatory influence.

Mo Shaikh, CEO of Aptos Labs, has joined the Digital Asset Markets Subcommittee, a group managed by the Commodities Futures Trading Commission’s (CFTC) Global Markets Advisory Committee (GMAC), according to a recent report.

Mo Shaikh has consulted the World Economic Forum on its global blockchain strategy, including central bank digital currencies (CBDCs).

Founded in 1998, the subcommittee advises the CFTC on regulations related to digital assets. The group focuses on developing a clear, consensus-driven approach to classifying digital assets and their functions. It aims to promote innovation, identify and address risk considerations, and enable adequate regulatory understanding.

Blockchain Is Blowing Up!

The latest appointment could strengthen Aptos’ influence in the cryptocurrency sector. Previously, the subcommittee had welcomed prominent members, including representatives from BlackRock, Polygon Labs, and Uniswap Labs.

Before joining the CFTC’s Digital Assets Subcommittee, Shaikh led blockchain strategic partnerships for Novi, Facebook’s wallet, and consulted the World Economic Forum on its global blockchain strategy, including central bank digital currencies (CBDCs).

APTOS FOUNDER MO SHAIKH APPOINTED BY CFTC TO JOIN DIGITAL ASSETS SUBCOMMITTEE

– The US Commodities Futures Trading Commission (CFTC) has officially added @AptosLabs founder Mo Shaikh to the Digital Assets Subcommittee.

– The subcommittee falls within the Global Markets… https://t.co/I8Moie0lRb pic.twitter.com/eDovVpSmsW

— BSCN (@BSCNews) June 4, 2024

In addition, Aptos CEO consulted sovereign wealth funds, energy, and telecom companies with BCG’s private equity practice.

Shaikh’s participation can contribute to the subcommittee’s efforts to develop clear and effective digital asset regulations. Moreover, the CFTC can benefit from a more open line of communication with key industry players.

His involvement can allow the Commission to clearly communicate regulatory expectations and receive feedback from the industry on the proposed rules.

The appointment comes after the U.S. House of Representatives passed the Financial Innovation and Technology for the 21st Century Act (FIT21) on May 22.

One of the key highlights of FIT21 is that digital assets will be regulated by either the SEC or the CFTC, depending on the decentralization of their underlying networks or projects. This has been one of the most remarkable developments since the digital asset industry had likely been under the SEC’s oversight.

Positive Developments for Aptos

Not only the latest appointment can benefit the CFTC, but it can also help the Aptos blockchain.

“Not only do we represent L1s, but we also represent a lot of the projects in the Web3 space — and [are] happy to be a voice for them along the way,” Shaikh noted.

Aptos utilizes Move, a programming language designed for Diem (Facebook’s abandoned blockchain project). This language is believed to be efficient and secure. The main goal of the Aptos blockchain is to process transactions faster than Ethereum, the current leader in the space.

Other blockchain projects, like Sui, which has roots in Diem technology, also emphasize transaction speed as a key advantage.

Aptos Labs has secured $400 million from well-respected venture capital firms. Based on a recent funding round, the company is valued at over $4 billion.

In April this year, Aptos Labs announced a strategic partnership with tech giant Microsoft. This collaboration leverages Microsoft’s Azure cloud computing platform and the Azure OpenAI language model to support intelligent applications.

As part of the deal, Azure OpenAI will power Aptos Ascend, a digital asset management platform designed for financial institutions.

According to the announcement, Aptos Ascend aims to achieve two key goals. Firstly, it seeks to expand access to decentralized finance (DeFi) for institutional capital through the Aptos network. Secondly, it aims to increase the global liquidity of tokenized real-world assets (RWAs).

This partnership isn’t the first foray for Aptos Labs and Microsoft into the Web3 space. In August 2023, the two companies joined forces to develop a new AI-powered blockchain solution. This earlier initiative focused on advancing digital payments, tokenization, and the intersection of AI and Web3.

Apart from Microsoft, Aptos Labs also collaborated with many other big names with relevant expertise to accompany the development of Aptos Ascend, including Brevan Howard, SK Telecom, and Boston Consulting Group (BCG).

The post Aptos CEO Appointed to CFTC’s Digital Asset Group appeared first on Blockonomi.

With Shaikh’s appointment, the Layer 1 blockchain Aptos gains even more credibility. 

Aptos is a blockchain network that aims to process transactions faster than Ethereum.

It appears that the U.S. Commodities and Futures Trading Commission (CFTC) is trying to bring together the digital assets sector and the traditional financial markets by adding Mo Shaikh, CEO of Aptos Labs, to its digital assets subcommittee.

The CFTC’s rulemaking on international commerce and business is greatly influenced by the Digital Assets Markets Subcommittee, which is a part of the Global Markets Advisory Committee (GMAC). Members of the GMAC have been there since 1998, and they come from all around the financial industry, including HSBC, Citadel, and Goldman Sachs.

More Credibility

Notable BNY Mellon, Polygon Labs, Uniswap Labs, and BlackRock executives are among the 34 members of the subcommittee. To aid the CFTC through the maze of digital asset regulation, these industry representatives give vital guidance. One of the subcommittee members, Shaikh, reportedly applied for the position in writing (DL News).

With Shaikh’s appointment, the October 2022-launched Layer 1 blockchain Aptos gains even more credibility. People who had worked for Facebook’s parent company, Meta Platforms, before left to build the network. Diem, Facebook’s blockchain project, was abandoned in February 2022 after having Shaikh and co-founder Avery Ching working on it.

Aptos is a blockchain network that aims to process transactions faster than Ethereum. It uses Move, a programming language that was originally developed for Diem. Andreessen Horowitz and Jump Crypto are among the renowned venture capital firms that have contributed $400 million to Aptos Labs.

Additionally, Aptos Labs will be unlocking their tokens next week. On June 12, 2024, following its prior token unlock, Aptos will subsequently release an extra 11.31 million tokens, valued at over $103 million.

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