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Crypto News Today – July 24, 2024

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By on Regulations

Welcome to “Crypto News Today,” a summary of the cannabis industry’s stock and regulatory updates.

Spot Ether ETFs saw $1.3 billion in trading volume on their first day, showing strong investor interest and confidence in Ether-based financial products. The high volume reflects the growing acceptance of cryptocurrencies in mainstream finance, despite some analysts predicting lower institutional interest compared to Bitcoin ETFs. Read all about it on the TDR Website!

  • Coinbase has narrowed its demand in its legal battle with the SEC, specifically seeking internal messages related to crypto regulation from SEC Chair Gary Gensler. This move aims to shed light on the SEC’s stance and actions regarding digital asset oversight. 
  • Binance Labs has invested in Pluto Studio, the developer behind the Telegram-based Web3 game Catizen. This investment will help Pluto Studio expand its Catizen mini-app and game engine, onboard more developers, and enhance its platform’s offerings, reflecting strong support for GameFi and Web3 initiatives.
  • The dYdX website was compromised following news of the sale of its v3 derivatives trading software. The hack affected the older version of the platform, causing the dYdX token to drop over 10% since the breach was reported.
  • Bitwise became the first U.S. spot Ethereum ETF issuer to publish Ethereum addresses, enhancing transparency for its ETHW fund. This move allows investors to verify holdings and track fund activity on the blockchain, marking a significant step in integrating cryptocurrencies with traditional financial products.
  • BlackRock’s BUIDL fund, the first tokenized treasury fund to surpass $500 million in assets, is participating in MakerDAO’s $1 billion Spark Tokenization Grand Prix. This initiative aims to integrate tokenized real-world assets (RWAs) like U.S. government bonds into MakerDAO’s ecosystem, enhancing transparency and liquidity in the DeFi space​.
  • Europol’s recent report identifies Bitcoin as the most frequently used cryptocurrency by criminals, often converted to stablecoins like Tether for stability. Monero’s privacy features have also made it popular for illicit activities, as it allows users to obscure transaction details and evade law enforcement scrutiny.

Go to the TDR website to find more Crypto News Today!

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Bill (William McNarland, CFA) has over 25 years of experience in complementary areas of the capital markets, encompassing private equity and credit due diligence, economic and stock research and corporate finance. He has served on the boards of six different companies and has fulfilled roles as a Trustee and member of the Investment Review Committee for regulated investment funds. Having completed nine degrees and designations, with a notable distinction as a Chartered Financial Analyst, Bill is currently advancing his academic pursuits with a Master’s in Psychology. Furthermore, he is a published author of seven books, all of which are available on Amazon.



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