Tuesday, May 7, 2024
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US Spot Bitcoin ETFs Report 5 Straight Days of Outflows, Totaling $635 Million

On Tuesday, U.S. spot bitcoin exchange-traded funds (ETFs) registered their fifth consecutive day of net withdrawals, documenting a substantial $161.6 million in negative outflows. Over the last two days, Grayscale’s Bitcoin Trust (GBTC) has offloaded 1,731.56 BTC, diminishing its reserves to 296,713.90 BTC. Bitcoin ETFs Continue to See Persistent Outflows

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Russian Crypto Exchange Unable to Process Withdrawals; Angry Users Try to Storm Offices

Approximately 50 users of Beribit, a Russian cryptocurrency exchange, recently tried to storm the company’s Moscow offices to demand their digital assets. Beribit’s management has attributed the delay in processing withdrawal requests to an audit initiated following the discovery of discrepancies in the exchange’s balance sheet. Balance Sheet Discrepancies About

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US Lawmaker Slams SEC’s Investigation of Ethereum — Says Chair Gensler Intentionally Misled Congress

U.S. House Financial Services Committee Chairman Patrick McHenry has slammed both the U.S. Securities and Exchange Commission (SEC) and Chair Gary Gensler regarding the SEC’s investigation into ethereum, suggesting that ether might be classified as a security. Additionally, the lawmaker emphasized that Gensler intentionally misled Congress on the issue. ‘Chair

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Taiwanese Prosecutors Indict 32 Individuals Implicated in $24.5 Million ACE Exchange Fraud Scheme

At least 32 individuals connected to the now-defunct Taiwan-based cryptocurrency exchange, ACE Exchange, have been indicted on fraud charges. Prosecutors have recommended 20-year jail terms for the founder, David Pan, and his business partner, while a 12-year jail term has been proposed for Chairman Wang Chen-huan. Token Prices Plummet Taiwanese

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