Cryptocurrency News of the Day
Discover the latest crypto news curated by CoinChapter.com, available on Google News.
U.S. Spot Bitcoin ETFs Experience Record Daily Inflows of $105M
On June 3, U.S. spot bitcoin exchange-traded funds (ETFs) saw their 15th consecutive day of net inflows. In total, the 11 ETFs added $105.12 million, bringing the total inflows during this streak to over $2.28 billion.
The cumulative net inflows for U.S. spot Bitcoin ETFs now stand at $13.96 billion. Fidelity’s FBTC led the way with $77 million in inflows, followed by Bitwise’s BITB with $14 million and Ark Invest’s ARKB with $11 million.
This 15-day positive streak is the second longest for U.S. spot Bitcoin ETFs, only behind the 17-day run in January. However, the total trading volume remains lower than the peak in March.
Globally, crypto investment products attracted over $2 billion in May, bringing year-to-date net inflows above $15 billion, according to CoinShares.
Crypto News: NBA Top Shot NFTs Confirmed as Not Securities
Dapper Labs’ $4 million settlement agreement in a class-action lawsuit reaffirms that NBA Top Shot non-fungible tokens (NFTs) are not considered securities, according to CEO Roham Gharegozlou.
The settlement filing reveals that Dapper has agreed to make changes to ensure its Flow blockchain is decentralized and out of its control. The settlement still requires court approval.
Previously, Judge Victor Marrero ruled that the NFTs could be classified as securities under the Howey test.
Deutsche Bank Collaborates with Bitpanda for Real-Time Crypto Payments
German crypto traders will benefit from a new partnership between Deutsche Bank and Bitpanda. This collaboration allows German crypto traders to make real-time fiat deposits and withdrawals on Bitpanda.
The partnership grants Bitpanda access to German IBANs through an API solution from Deutsche Bank, significantly enhancing transaction efficiency and security. All fiat transfers on Bitpanda will now go through Deutsche Bank for real-time settlement.
As a key advantage of this collaboration, Bitpanda users in Germany will receive a local IBAN for easy deposits and withdrawals.
Another Crypto News of the Day: Roaring Kitty Faces Potential ETrade Ban
Keith Gill, popularly known as Roaring Kitty on Reddit, may be banned from ETrade due to concerns of potential stock manipulation related to his recent GameStop (GME) holdings. Gill’s Reddit post, showcasing over $200 million in GME shares and options, caused the stock to nearly double.
This incident reminds us of the 2021 meme stock frenzy when Roaring Kitty and others boosted GME and AMC prices, resulting in significant losses for short sellers. ETrade’s parent company, Morgan Stanley, had been monitoring Gill’s account.
Binance Updates Stablecoin Strategy Ahead of EU’s MiCA Regulation
In preparation for the EU’s Markets in Crypto-Assets (MiCA) rules on stablecoins, Binance is categorizing them as “regulated” and “unauthorized” based on compliance. Over time, the exchange will transition users from unauthorized to regulated stablecoins.
Initially, Binance will only allow the sale of unauthorized stablecoins, as only a few coins currently meet the MiCA requirements. These changes aim to smoothly fulfill MiCA’s objectives when the regulation takes effect this month.
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