Crypto's Next Frontier: Vitalik Buterin Advocates for Seamless Ethereum TransactionsEthereum, Vitalik ButerinAccount Abstraction Stressing DecentralizationBuilding Infrastructure as a Joint Ecosystem The founder of Ethereum, Vitalik Buterin, visited Seoul. He arrived on the 27th to speak at Biddle Asia 2024, held at Signiel Seoul in Songpa-gu, Seoul. During his visit, Buterin highlighted his interest in Account Abstraction. To use blockchain services, users must sign transactions […]
One Out of Ten Koreans Own RippleDid you know that one out of ten Koreans owns Ripple (XRP), the world’s sixth-largest cryptocurrency? Ripple is accelerating its expansion in Korea based on the interest of Koreans. Josh Kim, a partner of Ripple, revealed in an interview with the Ripple-related community “Crypto Eri” on the 26th that “10% of the Korean population own […]
FTX Cleared to Sell Anthropic Stake by US Court for Customer Compensation [Dugguru=Eung-Yong Jung] A U.S. court has approved the sale of FTX's stake in Anthropic, a cryptocurrency exchange that went bankrupt in 2022. FTX plans to use the proceeds from the sale of its stake in Anthropic to repay customer restitution funds. Bankruptcy Judge John Dawsey of the U.S. Bankruptcy Court for the District of Delaware in Wilmington on Wednesday approved the sale of FTX's 7.84% stake in Anthropic, saying the company had reached a settlement with a group of customers. The stake is reportedly valued at about $1.4 billion. According to court documents, FTX invested $500 million in Antropic in 2021, acquiring a 13.56% stake. Subsequent investments, including a $4 billion investment from Amazon.com, reduced FTX's stake to 7.84%. "The growing interest in AI and large-scale language models has led to a significant increase in the value of Antropic's shares," said Andy Dieterich, an attorney for FTX, "and we will maintain the flexibility to sell our shares at the most opportune time." Until now, FTX customers have argued that FTX did not actually own Antropic shares, as it bought them with funds stolen from customer deposits. However, it was agreed that the funds from FTX's sale of the Antropic shares belonged to FTX customers, and the court approved the sale. Mr. Dieterich explained that he plans to repay customers with the proceeds from the sale of the Antropic stake, and that he has enough cash on hand to prove ownership of Antropic shares to a specific group of customers if he can convince the court. Mr. Dieterich claims that FTX has $6.4 billion in cash on hand. FTX plans to base customer redemption amounts on the current higher value of cryptocurrencies, rather than the November 2022 value at the time of the bankruptcy. Meanwhile, FTX founder Sam Bankman-Pryde was convicted by a court in November of fraud and money laundering charges. His sentencing hearing is scheduled for March 28, and he could face up to 115 years in prison...
Coinbase Chief Legal Officer Urges SEC to Approve Spot Ethereum ETF [TheGuru=Sung-Hwan Hong] Coinbase, the largest cryptocurrency exchange in the United States, has urged securities regulators to approve an Ethereum spot exchange-traded fund (ETF). This is the latest sign of growing anticipation for the approval of an ETH spot ETF. "We believe that Grayscale's proposed Ethereum spot ETF meets the rules and requirements of the Exchange's proposed rules," Paul Grewa, Coinbase's chief legal officer, wrote in a comment letter to the U.S. Securities and Exchange Commission (SEC), according to industry sources. "Ethereum is not vulnerable to fraud or manipulation because it has a robust and decentralized governance system," he said, adding that Ethereum is not a security. Grayscales previously filed to convert its Ethereum Spot Trust into an ETF in October of last year. Other asset managers, including BlackRock, Fidelity, Franklin Templeton, and ArkInvest, are also preparing to launch ETH spot ETFs. The industry is expecting an ETH spot ETF to launch as early as May. In a report published on May 18, U.S. asset manager Bernstein said it expects the SEC to approve an ETH spot ETF as early as May and as late as this year. British investment bank Standard Chartered (SC) also said last month that it expects approval of an ETH spot ETF to come on May 23, when the first round of applications is due. Meanwhile, the SEC approved bitcoin spot ETFs for listing and trading on exchanges on May 10th. Following the decision, 11 bitcoin spot ETFs began trading on May 11th. They include BlackRock, Fidelity Investments, ARC Investments, Invesco, WisdomTree, Bitwise Asset Management, Valkyrie, and Grayscale Investments...
$78 Million Flows In Crypto Investments: Europe Thrives, U.S. and Canada Lag BehindLast week, Europe saw the highest inflow of $78 million into digital asset investment products, while North America remained weak.
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Crypto's Next Frontier: Vitalik Buterin Advocates for Seamless Ethereum Transactions Ethereum, Vitalik ButerinAccount Abstraction Stressing DecentralizationBuilding Infrastructure as a Joint Ecosystem The founder of Ethereum, Vitalik Buterin, visited Seoul. He arrived on the 27th to speak at Biddle Asia 2024, held at Signiel Seoul in Songpa-gu, Seoul. During his visit, Buterin highlighted his interest in Account Abstraction. To use blockchain services, users must sign transactions […]
One Out of Ten Koreans Own Ripple Did you know that one out of ten Koreans owns Ripple (XRP), the world’s sixth-largest cryptocurrency? Ripple is accelerating its expansion in Korea based on the interest of Koreans. Josh Kim, a partner of Ripple, revealed in an interview with the Ripple-related community “Crypto Eri” on the 26th that “10% of the Korean population own […]
FTX Cleared to Sell Anthropic Stake by US Court for Customer Compensation [Dugguru=Eung-Yong Jung] A U.S. court has approved the sale of FTX's stake in Anthropic, a cryptocurrency exchange that went bankrupt in 2022. FTX plans to use the proceeds from the sale of its stake in Anthropic to repay customer restitution funds. Bankruptcy Judge John Dawsey of the U.S. Bankruptcy Court for the District of Delaware in Wilmington on Wednesday approved the sale of FTX's 7.84% stake in Anthropic, saying the company had reached a settlement with a group of customers. The stake is reportedly valued at about $1.4 billion. According to court documents, FTX invested $500 million in Antropic in 2021, acquiring a 13.56% stake. Subsequent investments, including a $4 billion investment from Amazon.com, reduced FTX's stake to 7.84%. "The growing interest in AI and large-scale language models has led to a significant increase in the value of Antropic's shares," said Andy Dieterich, an attorney for FTX, "and we will maintain the flexibility to sell our shares at the most opportune time." Until now, FTX customers have argued that FTX did not actually own Antropic shares, as it bought them with funds stolen from customer deposits. However, it was agreed that the funds from FTX's sale of the Antropic shares belonged to FTX customers, and the court approved the sale. Mr. Dieterich explained that he plans to repay customers with the proceeds from the sale of the Antropic stake, and that he has enough cash on hand to prove ownership of Antropic shares to a specific group of customers if he can convince the court. Mr. Dieterich claims that FTX has $6.4 billion in cash on hand. FTX plans to base customer redemption amounts on the current higher value of cryptocurrencies, rather than the November 2022 value at the time of the bankruptcy. Meanwhile, FTX founder Sam Bankman-Pryde was convicted by a court in November of fraud and money laundering charges. His sentencing hearing is scheduled for March 28, and he could face up to 115 years in prison...
Coinbase Chief Legal Officer Urges SEC to Approve Spot Ethereum ETF [TheGuru=Sung-Hwan Hong] Coinbase, the largest cryptocurrency exchange in the United States, has urged securities regulators to approve an Ethereum spot exchange-traded fund (ETF). This is the latest sign of growing anticipation for the approval of an ETH spot ETF. "We believe that Grayscale's proposed Ethereum spot ETF meets the rules and requirements of the Exchange's proposed rules," Paul Grewa, Coinbase's chief legal officer, wrote in a comment letter to the U.S. Securities and Exchange Commission (SEC), according to industry sources. "Ethereum is not vulnerable to fraud or manipulation because it has a robust and decentralized governance system," he said, adding that Ethereum is not a security. Grayscales previously filed to convert its Ethereum Spot Trust into an ETF in October of last year. Other asset managers, including BlackRock, Fidelity, Franklin Templeton, and ArkInvest, are also preparing to launch ETH spot ETFs. The industry is expecting an ETH spot ETF to launch as early as May. In a report published on May 18, U.S. asset manager Bernstein said it expects the SEC to approve an ETH spot ETF as early as May and as late as this year. British investment bank Standard Chartered (SC) also said last month that it expects approval of an ETH spot ETF to come on May 23, when the first round of applications is due. Meanwhile, the SEC approved bitcoin spot ETFs for listing and trading on exchanges on May 10th. Following the decision, 11 bitcoin spot ETFs began trading on May 11th. They include BlackRock, Fidelity Investments, ARC Investments, Invesco, WisdomTree, Bitwise Asset Management, Valkyrie, and Grayscale Investments...
$78 Million Flows In Crypto Investments: Europe Thrives, U.S. and Canada Lag Behind Last week, Europe saw the highest inflow of $78 million into digital asset investment products, while North America remained weak.
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