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Five Ethereum (ETH) spot ETF applicants have submitted their 19b-4 forms to the U.S. Securities and Exchange Commission (SEC).

According to Bloomberg Intelligence analyst James Seyffart, ETH ETF applicants — Fidelity, VanEck, Invesco/Galaxy, Ark Invest and Franklin Templeton — submitted their Amended 19b-4 forms to the SEC just 25 minutes before the deadline. $ETH

The Bloomberg Intelligence analyst said it could take “weeks or more” before the spot ETH ETFs launch in the U.S.

According to a crypto.news report on May 21, analysts at the Singapore-based trading firm QCP Capital believe that the approval of spot Ethereum ETFs could send the asset’s price above the $5,000 mark.

Former FTX executive Ryan Salame faces a potential five to seven years in prison as prosecutors emphasize the gravity of his criminal activities.
Federal prosecutors have recommended that former FTX executive Ryan Salame serve five to seven years in prison for his involvement in the collapse of the FTX crypto exchange. In a sentencing memo filed in federal court in Manhattan, U.S. prosecutors emphasized that Salame has committed “serious crimes, and a substantial sentence is required to ensure that Salame receives just punishment,” as reported by Bloomberg.
“The campaign finance offense is one of the largest-ever in American history, and the unlicensed money transmitting business exchanged more than $1 billion without proper supervision.”$BTC
U.S. prosecutors

Speaking with crypto.news, Matthijs de Vries, CEO and Founder of Nuklai, delved into the ethical implications of AI use in the NFT sector.

The onset of AI has opened up a lot of new possibilities, and one of the sectors that has leveraged this technology heavily is NFTs. From generating NFT art to enhancing verification processes, AI is becoming a pivotal tool in the decentralized digital art world.

However, this rapid integration also brings about some ethical concerns. Issues such as intellectual property rights, the potential for misuse of AI-generated content, and the transparency of AI algorithms are at the forefront of this debate.

Nancy Pelosi, the former United States House of Representatives Speaker, could be backing the Financial Innovation and Technology for the 21st Century Act (FIT21), a Republican-led crypto bill.

According to sources familiar with Pelosi’s approach, Pelosi could support the bill, which is currently on the verge of a vote on May 22.

Pelosi would be going against Democrats like Maxine Waters and David Scott, who have opposed the bill. However, a May 20 email leaked from Democrat Party leaders revealed that House Democrats won’t be urged to vote against it.

The bipartisan bill seeks to clarify cryptocurrency regulations in the U.S., addressing long-standing issues of market oversight and consumer protection. It will define the responsibilities of the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC).

For the second time in May, spot Bitcoin (BTC) ETFs have exceeded $300 million in inflows, with significant contributions from BlackRock’s iShares Bitcoin Trust (IBIT) and Fidelity’s Wise Origin Bitcoin Fund (FBTC).

Market data from Farside Investors indicates that these investment products saw $305 million in inflows on May 21 despite several ETF products, including the Grayscale Bitcoin Trust (GBTC) reporting zero flows. Notably, only two products experienced inflows, while two registered outflows.

BlackRock’s IBIT led the inflows with $290 million, with Fidelity’s FBTC reporting an inflow of $25.8 million. The Bitwise Bitcoin ETF (BITB) witnessed outflows amounting to $4.2 million, and VanEck Bitcoin Trust ETF (HODL) equally saw $5.9 million in capital exit.

Amid surging spot Ethereum ETF rumors, Ripple CLO Stuart Alderoty calls SEC Chair Gensler a “struggling political liability,” suggesting political motives behind potential SEC moves.

In what could be a watershed moment for the U.S. Securities and Exchange Commission (SEC), Ripple’s Chief Legal Officer, Stuart Alderoty, suggests that SEC Chair Gary Gensler is risking his position by becoming a “struggling political liability.”

Veteran trader John Bollinger, the creator of Bollinger Bands, has expressed caution about Bitcoin’s immediate future.

Bitcoin has surged nearly 13% over the past week and a half, reaching the $71,000 mark per BTC. This rally has led market analysts and traders to reassess their strategies as Bitcoin inches closer to its all-time high of $74,000.

Amid the bullish sentiment, Bollinger identified a concerning pattern on Bitcoin’s price chart, suggesting a potential pullback or consolidation period. He pointed out the appearance of a two-bar reversal at the upper Bollinger Band, which often indicates a temporary market correction.

Veteran trader John Bollinger, the creator of Bollinger Bands, has expressed caution about Bitcoin’s immediate future.

Bitcoin has surged nearly 13% over the past week and a half, reaching the $71,000 mark per BTC. This rally has led market analysts and traders to reassess their strategies as Bitcoin inches closer to its all-time high of $74,000.

Amid the bullish sentiment, Bollinger identified a concerning pattern on Bitcoin’s price chart, suggesting a potential pullback or consolidation period. He pointed out the appearance of a two-bar reversal at the upper Bollinger Band, which often indicates a temporary market correction.

An international exchange-traded fund provider WisdomTree has become among the first issuers to have its crypto ETPs listed on LSE.

WisdomTree, an international exchange-traded fund (ETF) and exchange-traded product (ETP) provider, has achieved approval from the British Financial Conduct Authority to list its physically-backed Bitcoin and Ethereum ETPs on the London Stock Exchange (LSE), marking a pivotal moment for the industry and U.K.-based professional investors.

In a blog announcement on May 22, Alexis Marinof, head of Europe at WisdomTree, emphasized the importance of this development, calling the approval a “significant step forward for the industry” in the U.K.

Marinof also noted that regulatory limitations and uncertainty had previously barred many professional investors from gaining exposure to Bitcoin and other crypto. However, with the FCA’s approval, these barriers to entry are anticipated to diminish.

Cryptocurrency users have spent over $135,000 worth of different cryptocurrencies on pizzas over the past 12 months, according to a Bitrefill report.

The comprehensive analysis of internal pizza gift card sales data shows that users purchased 3,941 pizzas with crypto. Bitcoin (BTC) combined with the Lightning Network are still dominating the scene with a 23.8% share of the total crypto-related pizza sales.

Ethereum (ETH) comes in second with a 20.5% stake in the pizza orders, per the Bitrefill report. USDT, the largest stablecoin with a $111 billion market cap, has a 6.8% share of the total crypto-purchased pizzas worldwide

Chinese court requires proof of Tether as legal fiat affirms ban on crypto lending

In a press release dated Oct. 10, it was announced that a second Chinese court has declared crypto lending as an activity not covered by the country's legal framework. #BTC #NFT #cryptousdua #Web3

Analysts maintain bullish outlook on Mantle, Cosmos, and Tradecurve Markets in 2023

Cosmos and Mantle are bullish while Tradecurve Markets has been gaining momentum in the ongoing TCRV presale #BTC #NFT #Crypto2023