John Tornatore

Jump Crypto president resigns amid CFTC investigation. Kanav Kariya, the president of Jump Trading’s digital asset arm, Jump Crypto, has stepped down amid reports of an investigation by the Commodity Futures Trading Commission (CFTC). Kariya announced his resignation on June 24 via social media, stating he plans to focus on personal relationships and reading while seeking his next venture. The details of the CFTC investigation into Jump Crypto remain unclear, but it may involve trading activities mentioned in the investor lawsuit and the SEC’s case against Terraform Labs. #Secret3 #cryptonews #blockchain #defi #cryptocurrency Read more: https://lnkd.in/gQchPGii

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Over the last 7 days, METH, BTG, and AKT had the highest buy ratio when looking at DAR Vetted and Watchlist Exchange trade data for top 200 digital assets by market cap. For more info: https://loom.ly/soY-bPE #digitalassets #buysell #tradedata #drivenbydata

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“...digital asset investment products amassed $932 million between May 13 and 17, driven by an immediate response to the U.S. Consumer Price Index (CPI) report, which seemed to show that inflationary pressures were moderating again. Despite higher nflows [sic], weekly volumes remained relatively low at $10.5 billion, a sharp contrast to the $40 billion observed in March.” https://lnkd.in/exe3htps

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21Shares, a crypto-native exchange-traded products issuer, has filed an S-1 registration statement with the U.S. Securities and Exchange Commission (SEC) on Friday for a spot Solana ETF. The 21Shares Core Solana ETF, if approved, would offer investors exposure to Solana, the fifth-largest #cryptocurrency by market cap. The fund would track the price of SOL and trade on the Cboe BZX Exchange. Similar to 21Shares' other spot ETF offerings, Coinbase Custody Trust Company would hold the underlying SOL assets in segregated wallets. Notably, the 21Shares ETF, like VanEck's, will not offer staking rewards for SOL holdings. This decision likely reflects behind-the-scenes discussions with regulators, as the SEC's stance on crypto staking remains unclear. However, the path to approval for both Solana ETFs appears uncertain. The SEC has previously hinted that SOL might be classified as a security, a designation that would impose stricter regulations. Additionally, the lack of a well-established Solana futures market, a factor the SEC considered in approving #Bitcoin and #Ethereum ETFs, could be another hurdle. Despite these challenges, some crypto proponents believe a potential shift in US leadership could pave the way for SOL ETF approval. Speculation surrounding a Donald Trump presidential win has some hoping for a more crypto-friendly regulatory environment. The Sol token is up over 16% in the past week on the back of news that VanEck filed for a spot Solana ETF with the SEC. At the time, Bloomberg Intelligence ETF analyst James Seyffart, CFA, CAIA said that such products could launch in 2025 if there is a "new admin in the White House and SEC." At the time of writing, SOL is trading at $147.53, or 6.25% up in the past 24 hours, according to CoinMarketCap data.

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At M55 Capital, we believe that proper #regulation is vital for advancing the crypto industry and safeguarding investors. President Biden vetoed a resolution aimed at repealing the #SEC's SAB 121, which mandates financial institutions keep crypto assets on their balance sheets. While controversial, this move underscores the need for robust regulatory frameworks. Biden's stance aligns with our view that appropriate guardrails are essential for consumer and investor protection. As crypto veterans, we support initiatives that provide clear guidelines and protect stakeholders, paving the way for a sustainable and thriving digital asset market. #crypto #btc #regulation #investor #sec #etf Khalid MAZOUZ Guillain Carpentier Kyle LIN https://lnkd.in/gfsz5X7C

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Cboe Futures Exchange (CFE) Summary files aggregate and bucket anonymized trading volume and trade count in all CFE products, including spreads and trade-at-settlement products. #DataAndAccess Get started ⬇️

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𝐁𝐢𝐭𝐌𝐄𝐗 𝐈𝐧𝐭𝐫𝐨𝐝𝐮𝐜𝐞𝐬 𝐎𝐩𝐭𝐢𝐨𝐧𝐬 𝐓𝐫𝐚𝐝𝐢𝐧𝐠 𝐭𝐨 𝐂𝐨𝐦𝐩𝐞𝐭𝐞 𝐰𝐢𝐭𝐡 𝐃𝐞𝐫𝐢𝐛𝐢𝐭 BitMEX has launched a new options trading platform in collaboration with PowerTrade, aiming to capture a significant portion of the crypto derivatives market. The platform boasts advanced trading tools and supports intricate strategies for major cryptocurrencies. To attract users, BitMEX offers no trading fees for a limited period and bonuses for early adopters. The platform includes features like increased leverage options up to 250x for bitcoin perpetual swaps and a Request-for-Quote system that facilitates complex, multi-leg strategies. These promotions and advanced features highlight BitMEX's ambition to become a leading choice for global crypto derivatives traders. #bitmex #crypto #bitcoin #cryptoplatform #cryptooptions #powertrade https://lnkd.in/dmBetxDV

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“What we bring to end-users is accessibility to an asset class that is otherwise very inaccessible.” — Securitize CEO Carlos Domingo Investing in tokenized funds through Securitize means lower minimums, shorter lock-up periods, and lower management fees. Check out the full video: https://lnkd.in/e8XZAXsC Investors can explore tokenized funds offered through our platform: https://lnkd.in/ejKGwiPp

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GOOD NEWS: U.S. Commodity Futures Trading Commission took steps today to clarify and strengthen the rules governing event contracts and specifically #election #gambling contracts. Gambling on elections is unacceptable for many reasons, including that it will likely incentivize election interference, further erode Americans trust in elections, and threatens investors with an inevitable onslaught of predatory platforms designed to lure them into a manipulated market. We will review the #CFTC's proposal in detail to make sure that it adequately deals with these issues and threats. If sufficiently strong and clear, today’s proposed rulemaking will not only safeguard the core values of our #democracy but also act as a barrier against the #gamification of our democratic outcomes. https://lnkd.in/eHr2X4zm

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“Especially in emerging markets, which tend to be less liquid, tokenization could instill investor confidence in credit markets and private equity funds.” — PaymentsJournal https://lnkd.in/eCHiv3SJ Securitize’s tokenization platform provides a solution for businesses that want to deliver a new era of automation and self service experiences for investors. Learn more about Securitize's end-to-end management & support: https://lnkd.in/ejRDFwV5

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The chart below outlines recent curtailments and we invite you to check out this week's Facility Update for more information on our operations, curtailments & outages, relocation news and available turnkey miners ⬇️ ⛏️⚡️ ➡️ https://lnkd.in/eHRTWGvg #bitcoinmining #bitcoin

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SEC Chair Gary Gensler suggests that the approval of S-1 forms for Ethereum ETFs will take time, following the recent approval of 19b-4 forms. The prolonged finalization phase may delay the ETFs from commencing trading. The SEC has instructed issuers to submit draft S-1 filings, and Gensler's comments indicate a potentially slow approval process. The iterative process, expected to take several weeks or months, will involve the SEC giving feedback and prompting further changes. The arrival of Ethereum ETFs is anticipated to lead to significant capital inflow and decrease the circulating Ethereum supply, potentially driving prices to new all-time highs. The SEC's detailed review process reflects a prudent approach to regulating these financial instruments, while the swift actions of companies like BlackRock demonstrate market demand and readiness for these new investment vehicles.

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Despite the current volatilities in the cryptocurrency market, #Ethereum continues to demonstrate resilience. Currently hovering around the $3,150 mark, it's steadily showcasing its recovery capabilities and growth potential. 📈 Ethereum's journey post-Bitcoin's halving brings an engaging facet to the ever evolving #DeFi landscape and the big questions now are: 𝗖𝗮𝗻 𝗘𝘁𝗵𝗲𝗿𝗲𝘂𝗺 𝗼𝘃𝗲𝗿𝗰𝗼𝗺𝗲 𝗿𝗲𝘀𝗶𝘀𝘁𝗮𝗻𝗰𝗲 𝗹𝗲𝘃𝗲𝗹𝘀 𝗮𝗻𝗱 𝘀𝘂𝗿𝗴𝗲 𝘁𝗼𝘄𝗮𝗿𝗱𝘀 𝗮𝗻 𝗮𝗺𝗯𝗶𝘁𝗶𝗼𝘂𝘀 $𝟰,𝟬𝟬𝟬 𝘁𝗮𝗿𝗴𝗲𝘁 𝗼𝗿 𝗲𝘃𝗲𝗻 𝗵𝗶𝗴𝗵𝗲𝗿? ➡️ https://lnkd.in/eT_H4gFn The unfolding narrative around a possible Ethereum #ETF highlights the ingenuity and uncertainty synonymous within the world of cryptocurrency. ⏳ While Grayscale and BlackRock remain undeterred in their pursuit of the Ethereum ETF, the SEC’s extended review timeline raises eyebrows within the sector. As analysts remain cautionary about the approval date, we find ourselves wondering - will this crypto saga lead to a potential paradigm shift in financial products?

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【Ethereum spot ETF issuers need to complete the modification of S-1 form and submit it before this Friday】 The Block cited two sources as saying that the expected #EthereumETF issuer received comments from the U.S. SEC on its S-1 form last week, and it needs to complete the modification and submit it before this Friday. Although the issuer's 19b-4 form was approved in May, they still need the S-1 form to take effect before they can start trading-there is no strict deadline for this process. Currently, the forms are being revised and returned to the SEC for further comments until they are ready.

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Flow Traders announces its Q1 2024 Trading Update. https://lnkd.in/ejidDatU Mike Kuehnel, "Flow Traders achieved a strong result in Q1 on the back of elevated trading activity in the digital assets space in the quarter, despite the relatively subdued market trading environment in other asset classes. This quarter serves as further validation of our growth and diversification strategy, given our initial investment in the digital assets space more than seven years ago and our continued investment in the asset class when others quickly left during the downturn merely a year ago. Our steadfast belief in the asset class, and the opportunities it can bring to traditional financial markets is unwavering. We were well prepared for the highly anticipated regulatory approval in the U.S. for spot Bitcoin ETFs that came through at the beginning in the quarter as institutional interest in digital assets continues to grow around the world."

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