Cryptocurrency news etrscrypto
With its native cryptocurrency, Ether (ETH), Ethereum powers transactions and fuels innovation across various crypto sectors. Like all cryptocurrencies, ETH’s volatile nature is evident through its frequent all-time highs and occasional lows https://slwebsitedesign.com/banking/visa/.
Launched in 2015 by Vitalik Buterin and other developers, Ethereum expands on Bitcoin’s concept by allowing not just peer-to-peer transactions but also programmable contracts that execute automatically when conditions are met. These smart contracts power a wide range of applications, from decentralised finance (DeFi) to non-fungible tokens (NFTs).
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Sec cryptocurrency news
The new task force is intended to help the SEC move away from its prior reliance on enforcement actions that have been heavily criticized by crypto companies and market participants, according to an announcement by Acting SEC Chairman Mark Uyeda. Udeya was appointed to head the agency after former Chair Gary Gensler stepped down.
The recalibration of the SEC’s previously adversarial stance toward crypto is meant to afford companies the “freedom to experiment and build interesting things,” said SEC commissioner Hester Peirce in a recent statement, while still shielding investors from fraud. But others have interpreted the pivot as a signal that the crypto industry will be subject to a far-reduced level of scrutiny.
It is unlikely that the SEC’s new stance toward crypto will trigger an immediate proliferation of new crypto products and services in the US. But once the crypto task force has set out its rules, crypto companies will feel emboldened to enter new corners of the US market, sources say.
In the last week alone, the SEC agreed to drop its lawsuit against crypto exchange Coinbase outright, while trading platforms Robinhood and Uniswap, nonfungible token marketplace OpenSea, and crypto software company Consensys all celebrated the apparent end of SEC investigations into their respective crypto activities.
The SEC’s retreat from its outstanding lawsuits against crypto businesses will be received as an early signal of the agency’s intent to work arm in arm with the industry to come up with a set of rules to govern crypto transactions and products.
Cryptocurrency news etrscrypto
The latest CoinShares report indicates crypto inflows totaling $785 million recorded for the week ending May 17. While it represents a slight drop from the previous week’s $882 million, it marks the fifth week of consecutive positive flows.
Nevertheless, Ethereum saw the highlight of last week’s crypto inflows. According to the CoinShares report, crypto inflows into Ethereum reached $205 million. This was a notable climb from the previous report’s $1.5 million.
As Ethereum and other altcoins recorded positive flows, Solana bucked the trend. It posted up to $0.89 million in crypto outflows. This aligns with a recent trend of declining TVL (total value locked), plunging 64%.
“Bitcoin attracted $557 million in inflows, a decrease from the prior week, likely due to continued hawkish signals from the US Federal Reserve. Short-bitcoin products saw a fourth consecutive week of inflows, totaling $5.8 million, reflecting investor positioning amid recent price gains,” read an excerpt in the report.