The Block
Rep. Wiley Nickel, a crypto-friendly lawmaker, seemed optimistic that the measure to overturn SAB 121 would pass the Senate this week, noting that it had previously passed the House with bipartisan support. Earlier in the day, Nickel penned a letter to Gensler, calling on him to withdraw SAB 121.
U.S. spot bitcoin exchange-traded funds recorded a total daily net inflow of $302.97 million.The largest daily inflow was seen from Fidelity’s FBTC, which drew in $131 million.
The Chicago Mercantile Exchange (CME) Group is considering launching bitcoin spot trading, according to a report.Discussions have been ongoing with traders, though the plan for spot trading rollout has not been finalized.
Quick Take Police in China have busted an underground bank that conducted foreign currency exchanges using USDT. The operation involved transactions worth about 13.8 billion yuan ($1.9 billion).
Quick Take Eclipse announced Thursday that it has appointed Vijay Chetty, the firm’s chief growth officer, as its new CEO. Former CEO Neel Somani, who is leaving the company, has faced allegations of sexual misconduct.
Quick Take The top Republican Fed governor said there is more of an “openness at the state level to have conversations about this expansion into the space.” Sen. Kirsten Gillibrand, D-N.Y., said she wants to get a vote on a stablecoin bill she is leading with Sen. Cynthia Lummis, R-Wyo., that addresses state and federal roles.
Quick Take El Salvador’s pro-Bitcoin president, Nayib Bukele, implemented 300 new processors powered by volcanic geothermal energy. Of the government’s 102 megawatts of power, 1.47% goes to Bitcoin mining.
Quick Take Two brothers were arrested this week after prosecutors say they exploited the Ethereum blockchain to steal $25 million worth of crypto in about 12 seconds. The case involved “maximal extractable value,” or MEV, the maximum amount of value that can be extracted from a given DeFi protocol or smart contract by a user or group of users.
Quick Take Lawyers for former FTX executive Ryan Salame have asked that their client be granted leniency and serve no more than 18 months in prison.
Quick Take Neoclassical Capital aims to act as a conduit between crypto projects and investors in the East and West, leveraging its co-founders’ multicultural experiences and multi-lingual skills. The investment firm specializes in injecting capital into early-stage blockchain-based projects (pre-seed to Series-A).
