💰 3iq applies to launch Solana ETP in CanadaInvestment firm 3iQ has applied to launch the first Solana exchange-traded product (ETP) in Canada. The proposed ETP, called Solana Fund, would offer Canadian investors exposure to SOL without requiring them to use hot wallets or other blockchain-related technology, 3iQ said Thursday in a statement. The fund, if approved, would launch on the Toronto Stock Exchange under the ticker QSOL.

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🇲🇪 Montenegrin Prime Minister Identified as Early Investor in Terraform Labs: ReportAccording to a recent report, Montenegrin Prime Minister Milojko Spajić has been identified as one of the early investors in Terraform Labs. Court documents released by the U.S. Securities and Exchange Commission (SEC) reveal that Spajić invested $75,000 in April 2018, acquiring 750,000 Luna tokens, which at their peak were valued at $90 million. SEC documents revealed that 14 individuals and 10 companies contributed approximately $13.75 million to the project’s initial development and research.

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💰 Bitcoin OTC balances spike by 62,000 BTC in 30 days, highest since 2021Bitcoin's OTC desk balances surge to levels unseen since the FTX collapse, market watchers are alarmed. Historically, this scenario has preceded significant price movements, either signaling a local top or indicating smart money is cashing out. The data reveals a startling addition of 85,000 BTC recently, juxtaposed with a miner sell-off reaching record highs. How does this intricate dance of market forces shape Bitcoin's trajectory from here? Dive into the full analysis on Alpha.

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💰 Ripple argues for lower fines than SEC's proposed $2 billion, cites Terraform settlement to make its caseLawyers for Ripple Labs are looking to leverage fines recently lodged against Terraform in an effort to pay a lower penalty in its case with the U.S. Securities and Exchange Commission. Ripple, which has been in a lengthy legal battle with the SEC over the last few years, said financial penalties proposed by the agency were unreasonable, in a "notice of supplemental authority," posted on Thursday.

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🪙 Gensler says Ethereum ETF S-1 approvals likely 'over the course of this summer'U.S. Securities and Exchange Commission Chairman Gary Gensler gave comments related to the timeline of spot ether exchange-traded fund listing approval in a Thursday hearing at the United States Senate Committee on Appropriations. When U.S. Sen. Bill Hagerty (R-TN) asked Gensler about the approval process for ether ETFs, Gensler estimated the approvals to occur sometime this summer.

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🇺🇸 Biden campaign in talks to accept crypto donations through Coinbase Commerce: sourcesU.S. President Joe Biden’s campaign is in discussions with cryptocurrency industry players about accepting crypto donations through Coinbase Commerce, sources familiar with the matter told The Block. Coinbase Commerce, a payments service that allows merchants to accept dozens of cryptocurrencies, already powers crypto donations to presumptive Republican candidate Donald Trump’s campaign, which began accepting digital currency contributions last month.

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*📣 BitMEX offers 200x leverage for ether perpetuals ahead of anticipated US spot ETFs*
The Seychelles-based crypto derivatives exchange announced on Wednesday that it will increase the maximum leverage of its ether perpetuals product to 200x. The leverage boost comes in the wake of the recent U.S. Securities and Exchange Commission (SEC) regulatory approval of spot ether ETFs, which has heightened market volatility.

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*📊 *Crypto investment products see $2 billion of inflows in May amid 'turnaround' in Ethereum sentiment: CoinSharesGlobal crypto investment products at asset managers such as Ark Invest, Bitwise, BlackRock, Fidelity, Grayscale, ProShares and 21Shares registered net inflows totaling $185 million last week, a fourth-consecutive week of positive inflows, according to CoinShares' latest report. The streak saw May inflows reach $2 billion, pushing year-to-date net inflows above the $15 billion level. However, volume fell over the past week, generating $8 billion in trading compared to $13 billion the week prior.

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*🇺🇸 US Should Join UK in ‘Blockchain Sandbox’ Free of Regulatory Meddling, SEC Commissioner Says*Hester Peirce, a leading member of the Securities and Exchange Commission (SEC), has signaled her support to a proposed cross-border “digital securities sandbox” between the U.S. and the U.K. SEC Commissioner Peirce praised the Bank of England and the Financial Conduct Authority (FCA) of the U.K. for proposing a local “digital securities sandbox” (DSS), which would let participating companies to experiment with blockchain technology “in the issuance, trading, and settlement of securities.”.

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📊 Grayscale falls behind in ETF outflows first time since launch as ARKB loses $87.5 millionGrayscale Bitcoin Trust (GBTC) recorded lower outflows for the first time since the launch of spot Bitcoin ETFs on April 2, after ARK 21Shares (ARKB) posted outflows amounting to $87.5 million, according to Coinglass data. Comparatively, GBTC recorded the lowest outflows since March 12 at $82 million. The data for the other ETFs, including IBIT and FBTC, was not public as of press time. GBTC’s currently low outflows are notable because the fund consistently sees high outflows.

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