Ethereum ETFs saw $2.2B inflows from the new spot ETF, the highest since Dec 2020. Despite Grayscale’s $1.5B outflows, Ether ETP trading volumes surged 542%. Ethereum’s price rose 4.8% to nearly $3,400, with total ETF assets at $99.1B. #Update
El Salvador has proposed using Bitcoin for trade with Russia to bypass sanctions, despite Russia’s ban on crypto as legal tender. This comes amid efforts to facilitate financial transactions between the two nations. #CryptoNews
Elliot Gunton, 20, was sentenced to 43 months for stealing $900,000 from Coinbase users via fake sites. The phishing scheme affected over 500 accounts, with one victim losing $16,000. Gunton pleaded guilty to fraud and money laundering. Phishing remains a major crypto theft issue.
Ethereum spot ETFs in the U.S. faced $162.67M capital outflows on July 26, 2024, marking the third consecutive day of losses. The Grayscale Ethereum Trust ETF (ETHE) lost $356.26M in a single day, despite inflows into five other products. $ETH trading around $3370.
Coinbase-backed Ondo Finance’s ONDO token surged 8% to $1.04 after its listing on OKX. Trading starts July 29 with deposits opening an hour earlier. Futures open interest jumped 10.52% to $146.88M, signaling increased market confidence. #CryptoNews
Brett (BRETT), the largest meme coin on Base Blockchain, surged over 12% to $0.1395. Its market cap exceeds $1.38 trillion, ranking it 71st among cryptocurrencies. Despite gains, BRETT is down 27.8% from its all-time high. #CryptoNews
Binance updates collateral ratios for PEPE, BONK, and BANANA, effective July 30, 2024. PEPE’s ratio rises to 75%, while BONK and NEAR also hit 75%. BANANA and BB jump to 50%. Changes aim to enhance trading security and reduce liquidation risks.
XRP News: Pro-XRP lawyer John Deaton challenges Kamala Harris to demand SEC Chair Gary Gensler’s resignation, citing his harmful regulation-by-enforcement approach. XRP price rises to $0.608 amid renewed sentiment. This move could reshape crypto regulation and restore investor confidence.
Former SEC lawyer Marc Fagel discussed how new SEC leadership might impact ongoing crypto lawsuits like Ripple. He noted that while current enforcement actions remain unaffected, future priorities could shift, easing outcomes for Ripple, Binance, and Coinbase.
Brevan Howard Digital launched BH Digital Solutions, led by ex-Coinbase trader Chris Rayner-Cook, to boost returns for blockchain and crypto mining firms. The unit’s debut follows a 20% asset increase to $2.3B in H1 2024, highlighting institutional growth in crypto.
Hong Kong politician Johnny Ng envisions Web3 and Bitcoin as pivotal to global financial innovation, likening Bitcoin to “digital gold.” He plans to discuss its reserve asset status, highlighting the need to accelerate Hong Kong’s Web3 ecosystem development to attract talent and maintain competitiveness.
Heather Morgan, aka Razzlekhan, was seen at the Bitcoin 2024 conference in Nashville, despite pleading guilty to the 2016 Bitfinex hack. Morgan’s presence at multiple Bitcoin events raises questions about her freedom before sentencing. #CryptoNews
Bitcoin Cash (BCH) surged 13% to $451, reaching a market cap of $8.75B. The rally, driven by Kraken’s distribution to Mt. Gox victims, highlights growing interest in affordable Bitcoin alternatives. BCH remains 88.3% below its all-time high. Global crypto market cap is $2.48T.
U.S. Vice President Kamala Harris’ advisors engage with crypto firms Coinbase, Circle, and Ripple Labs to promote responsible business practices. This effort aims to balance regulation and innovation amid 2024 presidential campaign considerations. Former President Trump promises SEC leadership changes if elected.
