Top Stories This Week Ethereum ETF Launched in June “Legitimate Possibility” Where…

Top news this week

The Ethereum ETF in June launched a “legitimate possibility” as BlackRock filed an S-1

Exchange-traded funds (ETFs) are likely to launch in the US by late June, following recent positive developments in the approval process. BlackRock updated the necessary Form S-1 filing for the iShares Ethereum Trust (ETHA) with the U.S. Securities and Exchange Commission (SEC) on May 29, a week after the SEC approved its 19b-4 filing. According to Bloomberg ETF analyst Eric Balchunas, these are good signs that other orders may soon follow. According to Balchunas, the missile could be launched in late June, but approval around July 4 is more likely.

Binance France changes ownership after regulator warns

Binance France has undergone a complete change in ownership, and is now fully owned by new shareholders, following a warning from the French Financial Markets Authority. The move aims to remove former Binance CEO Changpeng Zhao from the company's control due to issues with US regulators, including the Department of Justice and the Financial Crimes Enforcement Network. Chow pleaded guilty to the charges in the US in November and was sentenced to four months in prison.

ChatGPT-encrypted memecoin reaches market cap of $638 million

A memecoin called Turbo, which was created using the OpenAI chatbot ChatGPT with an initial investment of $69, reached a market value of $638 million a year after its launch. The coin's price peaked at $0.009302 on May 28, setting a new all-time high and significantly raising its valuation from $27 million three months ago – an increase of 2,262%. At its peak, the memecoin was up 13,192.3% as of September 2023. The token's creator, digital artist Rhett Mankind, claims it has “surged in popularity” due to him not being involved in its management.

Bitcoin drops 2% as Mt.Gox wallets move over $7 billion to unknown wallet

Bitcoin fell 2% on May 28 after wallets flagged as belonging to collapsed cryptocurrency exchange Mt.Gox transferred 107,547 Bitcoin worth roughly $7.3 billion to an unknown wallet — with more transactions arriving by the hour. The move comes ahead of the defunct cryptocurrency exchange's plan to return Bitcoin holdings to creditors before October. All transactions pointed to a single, unnamed address containing 107,547 Bitcoin worth approximately $7.29 billion at the time of writing.

Grayscale's Ethereum ETF May Bleed $110M Daily in First Month: Kaiko

Grayscale's proposed Ethereum spot trading fund (ETF) could experience large daily inflows averaging $110 million if it faced the same initial pattern as a Bitcoin ETF. Grayscale Bitcoin Trust converted into an ETF on January 11 and saw outflows of 23% of its assets under management, totaling $6.5 billion in the first month. Likewise, if Grayscale's Ethereum Trust, which has $11 billion in assets, experienced similar outflows, this would represent about $110 million leaving daily, or 30% of Ethereum's average daily trading volume on Coinbase, according to a report by Kaiko Analysts.

Winners and losers

And at the end of the week, Bitcoin (Bitcoin) he is in $67,004ether (Ethereum) in $3,749 And XRP in $0.51. Total market capitalization is at $2.5 $1 trillion, according to CoinMarketCap.

Among the top 100 cryptocurrencies, the top three altcoin gainers this week are Notcoin (no) At 141.82%, JasmyCoin (Jasmi) by 46.40% and ORDI (Urdu) By 28.46%.

The three biggest altcoin losers this week are Akash Network (act) At -12.94% Bettensor (tau) At -9.82% and Ronin (Ron) At -9.69%.

For more information on cryptocurrency prices, be sure to read Cointelegraph's market analysis.

Most of the quotes are memorable

“ZK encryption was developed for the benefit of everyone. It is a shame to witness an intellectual property land grab by a company that is trying to expropriate ownership of 'ZK' as private intellectual property.

Eli Ben SassonCEO of Starquare

“I truly believe that the next trillion-dollar company will be independent and will most likely be in wireless. “It is the part where the market is growing.”

Carlos Lee Santosco-founder and CEO of Uplink

“If it becomes publicly understood that blockchain is the ‘casino chain’ and nothing else, it will become more difficult to have non-casino applications.”

Vitalik Buterinco-founder of Ethereum

“Jerome Powell (…) is from the past. “He is looking forward and does not see the digital asset space.”

Tom Emmerrepresentative of the United States

“If you vote for me, on day one, I will commute the sentence of Ross Ulbricht (creator of the Silk Road).”

Donald Trumpformer President of the United States

“They (Ethereum ETFs) are another line of defense for Bitcoin.”

Michael Saylorfounder of MicroStrategy

Weekly forecast

Bitcoin has “3 bullish reasons” to rise after analyzing the $68,000 drop

QCP Capital says Bitcoin bulls have nothing to worry about when it comes to the upside in BTC prices. The movement of coins from wallets belonging to the defunct Mt.Gox exchange, which led to a 2% drop in the price of Bitcoin overnight, does not warrant a rethinking of the market course.

QCP analysts wrote: “BTC movement from Mt. Gox cold this morning to sell-offs of less than 68k.” “However, these bouts of supply anxiety are likely to be blips in a broader trend higher at the end of the year.”

QCP highlighted what it called “3 bullish reasons” to maintain confidence in Bitcoin’s future strength.

These focused on the strong performance of US stocks that spilled over into cryptocurrencies, political support by US presidential candidates and the uptake of upcoming Ethereum spot ETFs.

FUD for the week

The US Department of Justice arrests the head of a botnet network for organizing a $130 million cyber fraud

The U.S. Department of Justice has arrested Yun Wang, a 35-year-old citizen of the People's Republic of China and citizen of St. Kitts and Nevis by investment, for his alleged involvement in operating the 911 S5 botnet. This botnet, active from 2014 to 2022, is said to have compromised millions of Windows home computers globally, affecting more than 19 million IP addresses. Blockchain analytics firm Chainalysis determined that wallet addresses linked to Wang contained more than $130 million in cryptocurrencies, derived from illicit activities.

Terraform and Do Kwon reach fraud settlement with SEC

Terraform Labs and its former CEO, Do Kwon, have reached an agreement in principle to settle a fraud case with the U.S. Securities and Exchange Commission, as revealed in court filings. The preliminary agreement was unveiled during a conference call with Judge Jed Rakoff on May 29. The final terms of the settlement are expected to be finalized and submitted for court approval by June 12, 2024. Kwon and Terraform were found liable for defrauding investors in the scam. February ruling.

Matter Labs files for “ZK” trademark and industry calls for withdrawal

Matter Labs has courted controversy by attempting to trademark the term “zero knowledge” in nine countries, with the aim of making it its exclusive intellectual property. The company, known for developing zkSync, had previously attempted to register the ticker symbol “ZK” on cryptocurrency exchanges. StarkWare CEO Eli Ben Sasson criticized Matter Labs' actions as a “ridiculous IP grab,” stressing that zero-knowledge encryption was developed for the benefit of the entire community.

This week's top magazine pieces

Celebrity Mastermind Caitlyn Jenner memecoin price list leaked

Sahil Arora allegedly offered access to big-name celebrities for up to $315,000, leaving a trail of disgruntled investors behind.

Crypto voters have already influenced the 2024 presidential election

Pundits are no longer wondering whether crypto voters could influence November's presidential election — the signs are already there.

Bots and airdrops push Ronin into second place on the blockchain for everyday users – not pixel fans

Ronin returns after his near-death experience but his recovery is not dominated by pixels as is commonly believed.

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Cointelegraph writers and reporters contributed to this article.