The Block
TD Cowen anticipates a prolonged legal battle between Consensys and the SEC.The investment bank reiterates that it does not expect the SEC to approve spot Ethereum ETFs before 2025.
The memecoin dogwifhat was listed on Bybit earlier today.Shortly after trading went live, the token saw its price rocket to $42 on the exchange. It has since retraced completely.
Transaction volume in the past 30 days for Tether, USDC, and DAI, has surpassed Visa’s 2023 monthly average, according to Nansen.
Quick Take Lazarus Group laundered $200 million worth of crypto into fiat currency over a four year period, an investigation from ZachXBT found. The investigation looked at over 25 exploits across various blockchains and traced illicitly gained funds passing mixers, exchanges and other avenues.
Ether has outperformed bitcoin for two consecutive weeks, as traders seek altcoin gains following the halving event, Bitfinex analysts noted.
Bitcoin hash price, the daily U.S. dollar value of a unit of hashing power, has fallen to fresh all-time lows. Despite a brief pop in revenue for miners post-halving amid the Runes frenzy transaction fee windfall, hash price has now dropped to less than $50 per PH/s per day.
Quick Take Tether has invested $200 million in Blackrock Neurotech. The stablecoin issuer is now the majority stakeholder in the biotech firm.
Crypto investment products witnessed a further $435 million in net outflows globally last week as incumbent ETF issuers continue to see withdrawals.The outflows are the largest since a record of nearly $1 billion during the third week of March as bitcoin fell from its latest all-time high.
Analysts at Bernstein see the slowing spot bitcoin ETF flows as a “short-term pause” before the foremost cryptocurrency resumes its bull run toward their $150,000 target. The analysts also argued spot Ethereum ETF denials could be bullish for ether and reiterated their anticipation that the total crypto market cap would triple to $7.5 trillion.
Bitcoin has fallen below the $63,000 mark as weak U.S. GDP growth spreads rate-cut gloom. However, major stock indices have remained robust in the face of higher-for-longer rates.
