“Market participants are also closely monitoring Grayscale’s US$9 billion ETH Trust, as there are concerns that Grayscale’s potential selling pressure could counteract the positive effects of the new inflows, potentially exerting downward pressure on the market,” wrote Vivien Wong, partner at HashKey Capital’s Liquid Funds, in a Tuesday email to CoinDesk. Source
Ether was little changed after the SEC’s approval for ETH ETFs in the U.S. on Monday. The second-largest cryptocurrency traded around $3,500, just 0.2% higher than 24 hours ago. Still, it outperformed the wider digital asset market, which is 1.3% lower as measured by the CoinDesk 20 Index (CD20). Some analysts predict that the ETFs’ listings could drive the ether price up to $6,500, though inflows are not expected to be nearly as high as for their bitcoin counterparts. Steno Research predicts that the ETFs could see $15 billion-$20 billion…
“Notwithstanding the increased turbulence in the upcoming U.S. elections, we believe the risk/reward setup for Coinbase, particularly as to its defense against the Securities and Exchange Commission’s (SEC) lawsuit, has improved markedly in the past few weeks,” analysts led by Peter Christiansen wrote. Source
“Solana’s importance to financial services is quite significant around secondary trading,” Sehra said in an interview. “They have developed the chain for capabilities of increasing throughput, so the number of transactions per second, and also the reduction of the latency between transactions. Since we’re planning to launch secondary trading services later this year, we decided to provide access to all of our funds on Solana now.” Source
Harris has been endorsed by incumbent Joe Biden for the upcoming U.S. presidential elections, and some traders are betting on her ascent with meme tokens and prediction markets. Source
We have issued a reprimand to a school that broke the law when it introduced facial recognition technology (FRT). Chelmer Valley High School, in Chelmsford, Essex, first started using the technology in March 2023 to take cashless canteen payments from students. FRT processes biometric data to uniquely identify people and is likely to result in high data protection risks. To use it legally and responsibly, organisations must have a data protection impact assessment (DPIA) in place. This is to identify and manage the higher risks that may arise from processing…
Stephen Bonner, Deputy Commissioner at the ICO said: “We are disappointed that Google has changed its plans and no longer intends to deprecate third party cookies from the Chrome Browser. “From the start of Google’s Sandbox project in 2019, it has been our view that blocking third party cookies would be a positive step for consumers. “The new plan set out by Google is a significant change and we will reflect on this new course of action when more detail is available. “Our ambition to support the creation of a…
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The primary demand from India’s crypto industry was to reduce the controversial tax-deducted-at-source (TDS) policy on crypto transactions from 1% to 0.01% Source
“This transaction marks a final chapter in the wind-down and is the best possible outcome for customers of BlockFi,” said Mohsin Y. Meghji, Plan Administrator of BlockFi Inc. Source