In this weekly recap, we cover:
- SEC Approves Spot Ethereum ETFs: The SEC has approved 8 spot Ethereum ETFs, including those from BlackRock and Fidelity. Issuers must now complete their S-1 registration statements before trading can begin.
- Sam Bankman-Fried Moves to New Correctional Facility: The FTX founder has been moved to a new prison facility in Mendota, California, closer to his parents’ home.
- Grayscale CEO Steps Down: Michael Sonnenshein resigns as Grayscale CEO, to be succeeded by Peter Mintzberg of Goldman Sachs in August.
- Genesis Settles with NYAG: Genesis has agreed to a $2 billion settlement with the NYAG, creating a fund for New Yorkers who invested through the Gemini Earn program.
- Uniswap Labs Rebuts SEC Allegations: Uniswap Labs responds to the SEC’s Wells notice, arguing the regulator’s stance is overreaching and defending its activities.
- Gala Games Hit by Major Hack: Gala Games was hacked, with 5 billion GALA tokens minted. The company has recovered about $20 million of the stolen funds.
- Farcaster Secures $150 Million in Funding: Farcaster raises $150 million in a Series A round, reaching a $1 billion valuation. Co-founders discuss their vision for growth.
- zkSync Prepares for Token Event: zkSync plans a token generation event this week, with an airdrop scheduled for June 13.
- Trump Campaign Accepts Crypto Donations: Donald Trump’s campaign now accepts cryptocurrency donations via Coinbase Wallet and MetaMask.
- Ethereum Researchers Spark Debate: Researchers Dankrad Feist and Justin Drake reveal advisory roles at EigenLayer, raising conflict of interest concerns.
- Debate Over Low Float, High FDV Tokens: A Binance report sparks debate on low float, high FDV tokens, with influencers highlighting market manipulation issues.
- Fun Bits: Algorand’s Ad: Algorand’s new ad humorously shows the struggles of paying with Bitcoin, Ethereum, and Solana at a supermarket, while Algorand users pay effortlessly.
