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Régulation: The House of Representatives approves the pro-crypto bill, FIT21
The United States House of Representatives has approved the FIT21 bill, a major act on cryptocurrencies, despite opposition from President Biden and the SEC with a vote of 279 against 136.
This bipartisan bill aims to regulate cryptocurrency markets and clarify the classification of digital tokens.
FIT21 designates the Commodity Futures Trading Commission as the main regulator for digital assets, but faces an uncertain future in the Senate without a corresponding bill.
👉 More info: Regulation: The House of Representatives approves the pro-crypto bill, FIT21
🔴 LIVE: Follow the real-time approval or rejection of Ethereum Spot ETFs
The history of Ethereum Spot ETFs has been marked by anticipation and significant developments regarding their approval by the SEC. In May 2024, a series of events sparked increased interest, starting with deposit adjustments by giants like Fidelity and Grayscale, who removed the option of staking ETH to comply with regulatory requirements.
On May 22, several issuers, including BlackRock and VanEck, submitted modified versions of their 19b-4 forms. The SEC then requested swift updates to the documents, suggesting imminent approval.
On May 23, the SEC approved eight 19b-4 filings for Ethereum Spot ETFs, triggering positive reactions in the market. The Ethereum Spot ETF is considered a commodity-based fund, reinforcing the classification of ETH as a commodity.
Finally, on May 24, discussions on the final approval of the S-1 forms intensified, with optimistic speculations fueled by statements from Gary Gensler, SEC chairman, and increasing political pressure.
👉🔴 LIVE: Follow the real-time approval or rejection of Ethereum Spot ETFs
The Donald Trump presidential campaign officially accepts crypto donations
The Donald Trump presidential campaign officially accepts donations in crypto, including Bitcoin, Ethereum, Solana, Ripple, Dogecoin, Shiba Inu, and Cardano.
These donations can be made via Coinbase Wallet and MetaMask and are attributed to joint fundraising committees between the Trump campaign and the Republican National Committee.
This move marks a first for a major party presidential candidate, adopting cryptocurrencies for donations and follows a trend initiated by other candidates such as Robert F. Kennedy Jr. and Andrew Yang.
EGLD: MultiversX unveils its new Sovereign Chains technology
MultiversX has unveiled Sovereign Chains, a revolutionary modular technology for inter-chain operations with major blockchains like Bitcoin, Ethereum, and Solana.
Capable of processing over 100,000 transactions per second, this solution enables seamless integration without relying on traditional bridges.
Sovereign Chains offer native interoperability, inheriting MultiversX’s features such as two-step authentication and native standards, while promising a unified and accessible blockchain ecosystem for all developers.
The Gravity Layer restaking module could triple EGLD staking yield, opening new opportunities for delegates and the community.
Several teams announcing Sovereign Chain solutions have hinted at airdrops to attract community attention.
Phantom wallet reaches 3rd place in the utility category of Apple’s App Store
Phantom Wallet has reached the third place in the utility category of Apple’s App Store, indicating growing interest in Solana. This rise is seen as a positive sign for cryptocurrency adoption and the crypto market, with seven million monthly active users.
Initially dedicated to Solana, Phantom now supports Bitcoin, Ethereum, and Polygon.
The ranking of crypto applications, influenced by various factors, is often seen as a reliable market indicator. Phantom’s performance sparks speculation of a possible start of a Bull Run for Solana.
The Hyperliquid DEX’s Layer 1 now supports native EVM
HyperLiquid, a decentralized exchange platform specializing in perpetual futures contracts, announces that its Layer 1 will now support the native Ethereum Virtual Machine (EVM).
This integration increases the platform’s capabilities, allowing for a variety of applications such as bridges, auctions, loans, and facilitating atomic transfers between assets.
Building on a high-performance infrastructure capable of processing up to 20,000 orders per second, HyperLiquid ensures optimal transparency and security while expanding its range of innovations.
Gala Games claims to have contained the attack allowing the mint of $200 million worth of GALA tokens
Gala Games announced that it has contained an attack that allowed the mint of 5 billion GALA tokens, worth $200 million, and the sale of a portion on Uniswap. After freezing the affected wallet and securing the $GALA contract within 45 minutes, Gala Games collaborated with the FBI, the US Department of Justice, and other international authorities.
Despite an initial price drop of GALA to $0.039, the token has since stabilized at $0.042, reassuring investors about the security and responsiveness of the company.
