Take a look at what happened in the world of crypto by reading U.Today’s top three news stories.
"$1 million Bitcoin" advocate Samson Mow reveals last chance to sell ETH
Upon the approaching deadline for the SEC's decision on spot Ethereum ETF approval, Samson Mow, CEO at Jan3 and prominent Bitcoin maximalist, took to X to pour cold water on Ethereum-based ETFs. In Mow's opinion, the potential approval of Ethereum funds by the regulatory agency is not bullish, as they will "massively underperform" Bitcoin-based ETFs. To prove himself right, Mow advised comparing demand for both BTC and ETH on other markets, while also taking into account the fact that Ethereum will not give staking rewards. "This is the last chance to sell ETH above 0.05 BTC," wrote the CEO at the conclusion of his X post. Meanwhile, earlier this week, VC investor Anthony Pompliano called the potential approval of Ethereum ETFs by the SEC “the last dam to be broken” before the U.S. approves the entire crypto industry.
Arman Shirinyan
Perpetual futures for Shiba Inu (SHIB) and other meme coins added by Coinbase
According to the official X announcement from May 23, Coinbase International Exchange will add support for Shiba Inu perpetual futures on Coinbase International Exchange and Coinbase Advanced. Apart from SHIB, two more meme coins, BONK and FLOKI, will also get their perpetual futures listed, to the great delight of the assets' communities. As stated in the announcement, the opening of 1000BONK-PERP, 1000FLOKI-PERP and 1000SHIB-PERP markets is expected to begin on or after 9:30 a.m. UTC May 30, 2024. Other perpetual futures offered by the exchange include such assets as Cardano (ADA), Avalanche (AVAX), Dogecoin (DOGE), Bitcoin Cash (BCH), Pepe (PEPE) and so on. As a reminder, Coinbase's offshore derivatives exchange opened last May. In September, Coinbase got regulatory approval to offer its futures to users outside the U.S.
Tomiwabold OlajideBrian Kelly predicts Solana could be next crypto ETF
During his recent appearance on CNBC, Brian Kelly, founder and CEO of BKCM LLC, shared his opinion regarding the approval of Ethereum ETFs. Even though Kelly does not know when exactly the Ethereum ETF is going to be greenlit by the SEC, he is certain that it will happen at some point in time. When asked about what crypto could be the next to get its ETF, Kelly replied, "You've got to think about Solana as probably the next one. Bitcoin, Ethereum, and Solana are probably the big three for this cycle." However, the Solana ETF approval process could be complicated by SOL token's legal status in the U.S; as a reminder, last year, the SEC named SOL a security in its lawsuits against Coinbase and Binance. The Solana Foundation strongly rejected this claim, stating that the blockchain is decentralized. Additionally, Solana does not have its futures-based ETF in the U.S.
Yuri Molchan
Denys Serhiichuk
Tomiwabold Olajide
