Bitcoin Price: US$ 63,165.59 (-0.60%)
Ethereum Price: US$ 3,263.45 (+0.24%)
Santiment has reported a significant drop in Ethereum’s gas fees to a six-month low, hinting at a potential altcoin rally. This development comes despite the market retracing over the past six weeks, and the low fees could be a harbinger of increased Ethereum network activity. Meanwhile, the decentralised physical infrastructure network, Io.net, recently grappled with a cybersecurity breach. Attackers exploited exposed user ID tokens, leading to unauthorised alterations in the GPU network’s device metadata. Swiftly responding to this breach, Io.net fortified its security measures, implemented SQL injection checks on APIs, and rolled out a user-specific authentication solution. In parallel, OpenAI, co-founded by Sam Altman, is reportedly exploring a partnership with Worldcoin, another Altman co-founded firm offering cryptocurrency-based universal basic income and identity verification services. This partnership, aimed at leveraging OpenAI’s AI solutions and services for Worldcoin, could potentially attract additional regulatory scrutiny due to Altman’s dual roles.
Asset management firm Franklin Templeton has listed its spot Ether exchange-traded fund (ETF) on the Depository Trust and Clearing Corporation (DTCC) website, marking a significant step in the race for spot Ether ETFs, which also involves industry giants like BlackRock, Grayscale, VanEck, and ARK Invest. However, this listing does not guarantee approval from the United States Securities and Exchange Commission (SEC), which has postponed a decision on the ETF application until June 11. Meanwhile, in Europe, upcoming decentralised finance (DeFi) regulations could pose challenges for crypto-native projects while facilitating traditional financial institutions’ entry into the crypto space. The European Commission’s report, due Dec. 30, 2024, will examine the feasibility of specific regulations for the DeFi ecosystem, potentially providing initial definitions of what constitutes decentralisation in the eyes of regulators. Amid these developments, Binance and its former CEO Changpeng “CZ” Zhao have filed notice with the court in their case with the SEC to establish the government’s position on stablecoins as a security. The scope of the argument seems limited to USDC, while the SEC’s case against Binance includes BNB and the stablecoin Binance USD (BUSD). Zhao is scheduled to be sentenced on April 30 following a settlement with the U.S. Justice Department, Treasury Department, and Commodity Futures Trading Commission.
At the Token2049 conference in Dubai, attendees from diverse backgrounds shared their unique paths to crypto wealth. These journeys included early investments in Bitcoin, long-term holding strategies, shrewd trading, and successful fintech ventures. However, the crypto landscape is constantly changing. For instance, Hong Kong is set to launch spot Bitcoin and Ether ETFs soon. Unfortunately, these new investment options won’t be accessible to mainland China investors due to existing regulations. Meanwhile, the Bitcoin network recently hit an all-time high of over 926,000 daily transactions on April 23. This surge was fuelled by the introduction of Bitcoin Runes, a new protocol for creating fungible tokens on the network. While Runes has generated significant interest in the Bitcoin community, the true market impact may take months to unfold, similar to the cooling-off period observed after NFTs were revealed.
Source: https://cointelegraph.com
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