Market Updates
On August 22, 2024, Bitcoin (BTC) hit $60,890, marking a 3% uplift in the past 24 hours. Ethereum (ETH) also climbed by 2.4%, reaching $2630. The previous day saw Bitcoin spot ETFs gaining $39.42 million, while Ethereum funds witnessed outflows totaling $17.97 million.
Key Headlines
BlackRock’s ETH ETF Surpasses $1 Billion
BlackRock’s iShares Ethereum Trust (ETHA) has set a milestone by becoming the first Ethereum ETF to cross the $1 billion mark. Meanwhile, Grayscale ETHE experienced total outflows of $440.5 million during the same period.
Brazil Approves Second Solana ETF
Brazilian authorities have given the nod for a second Solana ETF, managed by Hashdex, thereby strengthening Brazil’s market position amidst regulatory hurdles for Solana in the United States.
Binance Faces Legal Action
Binance and its former CEO Changpeng Zhao (CZ) are now embroiled in a class-action lawsuit. The suit claims that the exchange’s management facilitated the laundering of stolen cryptocurrencies.
Terraform Labs Nears Bankruptcy
Terraform Labs is approaching a critical bankruptcy hearing scheduled for September 19, 2024, following a $4.5 billion settlement with the U.S. Securities and Exchange Commission (SEC).
Tether to Introduce Stablecoin in UAE
Tether has announced plans to launch a stablecoin pegged to the UAE dirham (AED) in collaboration with Phoenix Group PLC and Green Acorn Investments Ltd.
El Salvador Launches Training Program
El Salvador’s National Bitcoin Authority has rolled out a training program aimed at certifying 80,000 government employees, enhancing their understanding and management of Bitcoin as legal tender.
Binance Adds DOGS to Launchpool
Binance has added the meme token DOGS to its platform, making it the 57th project on Launchpool. Trading will commence on August 26.
SunPump Generates $1.1 Million in Revenues
SunPump, a platform for launching Tron-based meme tokens, has generated $1.1 million in revenue within just 11 days, contributing to a daily revenue of $3.84 million for the Tron network.
Conflux and China Mobile Launch Blockchain-based Video Ringtones
Conflux (CFX) and Migu, a subsidiary of China Mobile, have teamed up to introduce blockchain-based video ringtones and other innovative digital products.
Major Holder Loses $55 Million
Cryptokit suffered a loss of $55.47 million in DAI stablecoin due to a hacker attack. Lookonchain and CertiK conducted an analysis of the unauthorized transfer of ownership of a Maker vault.
McDonald’s Instagram Hacked
Hackers compromised McDonald’s Instagram account and posted about a Solana-based token named Grimace. The token’s market cap surged to $30 million before plummeting below $1 million.
My name is Jay Skrantz, and I’ve been a freelance writer for 10 years, concentrating largely on investment brokerage, mutual fund investing, and financial analysis topics. As a reporter, I’ve written extensively for a wide variety of sites and publications like SeekingAlpha, MoneyShow, and MotleyFool. I’ve also done substantial freelance work for a number of financial publications, including MarketWatch, CIO Magazine, and TheStreet.
