SEC Clears Way for ETH Spot ETF

BtcTurk was hacked, affecting hot wallets with 10 cryptocurrencies. ETH spot ETF approval is expected soon. Tether launched aUSDT, over-collateralized by Tether Gold.

SEC Clears Way for ETH Spot ETF

BtcTurk hacked

BtcTurk, one of Turkey's largest cryptocurrency exchanges, said it was attacked on June 22, and cryptocurrency deposits and withdrawals have been stopped.

Hackers stole assets from hot wallets holding 10 different cryptocurrencies. Fortunately, assets in cold wallets remain secure. BtcTurk's statement: "Our team detected unauthorized withdrawals from our platform on June 22, 2024. Only a portion of balances in hot wallets for 10 cryptocurrencies were affected. Cold wallet assets are safe. Our financial strength far exceeds the affected amounts, ensuring user assets are protected. We are investigating and working with authorities. Crypto deposits and withdrawals are temporarily suspended."

Following the news, AVAX and LUNC saw significant drops. AVAX fell 10% after $54.2M worth of 1.96M AVAX was transferred to Binance, Coinbase, and Gate. LUNC dropped 20%, linked to a reduction in BtcTurk's wallet balance.

ETH spot ETF coming?

This week, Consensys announced that SEC closes investigation into Ethereum 2.0, no securities charges against ETH. This means that the SEC will not bring charges alleging that sales of ETH are securities transactions.

Then Nate Geraci's tweet that there will be flurry of spot eth ETF S-1 amendments Thursday and Friday, e.g., Bitwise filing should be perfect to get approval. He also mentioned that could be another issuer or two file for combined spot BTC & ETH ETF over next week or so.

Nate thinks spot ETH ETF will be approved before July 4th.

Tether launched aUSDT

Tether launched a DAI-like synthetic dollar over-collateralised by XAUt (Tether Gold), named aUSDT, to provide long-term holders the opportunity to maintain exposure to gold, while in parallel obtaining a dollar-referenced Tethered Asset for payments and day-to-day economy.

It's minted on Alloy by Tether, an open platform that allows to create collateralised synthetic digital assets and will soon be part of the new Tether digital assets tokenisation platform, launching later this year. Previously Tether CEO Paolo's twitter: announced that Tether's tokenisation platform will soon be available to everyone, which aims to tokenize anything from any bonds, stocks or funds to coffee shop reward points, fully non custodial / multi-chain / multi-asset type / super customizable.

On a side note, Paolo Ardoino on his twitter proudly announced the news from WSJ , that Tether is among top 3 global buyers of short term US t-bills and top 20 in general ranking...Me thinking: come on man, don't make this too loud. Big brother is watching you and might come after you!

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