Blockchain Startup Raise $8M to Build Fintech Layer 1 Network

In partnership with

📈 Supercharge Your Bitcoin: 15%+ APY + Multiple Points Multipliers

🚀 Earn 15%+ APY on BTC + 3X Lombard Points
💥 MORE points: Babylon, Symbiotic & Corn, Etherfi Veda, and VCX
🔥 $300K VCX pool + 2X multiplier in week 1 - Act fast!

Join now!

Glad to see you back here in this new edition.

Here are the most important news of the week, but before you start be sure to read our newsletter in its entirety, next please reply to this email with your opinion about it.

Let's get started

PROMOTE HERE YOUR PROJECT

Table of Content

In today edition we talk about

• SEC Considers Approving Ethereum ETF Options for U.S. Exchanges

• Blockchain Startup Pharos Secures $8M to Build Fintech-Focused Layer 1 Network

• Coinbase Analysts See Bright 2025 for Crypto Markets with Trump’s Win and Solana Memecoin Surge

• North Korean Hacker Group BlueNoroff Targets Crypto Firms with New MacOS Malware

SEC Considers Approving Ethereum ETF Options for U.S. Exchanges

The U.S. Securities and Exchange Commission (SEC) is evaluating a proposal to allow options tied to spot Ethereum (ETH) exchange-traded funds (ETFs) on the NYSE American exchange. According to a Nov. 8 filing, this could include options on the Bitwise Ethereum ETF, Grayscale Ethereum Trust, Grayscale Ethereum Mini Trust, and any trust holding Ether.

If approved, this move signals a potential shift in the SEC’s stance toward cryptocurrency products, following crypto-supporter Donald Trump’s recent presidential win. The SEC recently allowed three exchanges—NYSE American, Nasdaq, and Cboe—to offer options on Bitcoin ETFs, a landmark move in regulated crypto markets. These same exchanges also applied for ETH ETF options approval in August.

To begin trading, however, the exchanges still need authorization from the Commodity Futures Trading Commission (CFTC) and the Options Clearing Corporation (OCC). The SEC postponed its decision on Cboe’s proposed rule change to allow ETH ETF options trading, pushing the deadline to Dec. 3.

In addition to these proposals, numerous altcoin ETFs—including funds holding Solana, XRP, and Litecoin—await regulatory review, as well as several crypto index ETFs aimed at offering a diversified basket of tokens.

Blockchain Startup Pharos Secures $8M to Build Fintech-Focused Layer 1 Network

Pharos, a developer of a Layer 1 blockchain network tailored to fintech, has raised $8 million in seed funding, led by Lightspeed Faction and Hack VC, with additional backing from SNZ Capital and other investors. This funding will support Pharos’ vision of creating a high-performance blockchain optimized for real-time payments and real-world assets (RWAs).

Founded to address scalability issues in existing networks, Pharos aims to offer web3 infrastructure capable of supporting billions of users, with a target throughput of 50,000 transactions per second (TPS). Pharos recently partnered with Ant Group’s web3 brand, ZAN, focusing on RWAs, and with the Worldwide Stablecoin Payment Network for stablecoin use cases.

The Pharos network is expected to launch a testnet in Q1 2025, followed by a mainnet rollout later in the year. The startup plans to expand its current team of fewer than 10 employees across the U.S., Hong Kong, and Singapore, aiming to add roles in cryptography, marketing, and ecosystem development.

Coinbase Analysts See Bright 2025 for Crypto Markets with Trump’s Win and Solana Memecoin Surge

Coinbase analysts are optimistic about crypto markets heading into 2025, attributing their outlook to favorable macroeconomic factors and a potentially more crypto-friendly regulatory environment following Donald Trump’s recent election win. They note that pro-crypto candidates gained ground in both the House and Senate, setting expectations for supportive U.S. regulations.

The analysts also highlight memecoin trading on Solana as a significant factor, which has become the third most profitable sector in crypto, generating a substantial portion of Solana's network fees. Activity on Solana’s platform pump.fun, which has launched over three million memecoins, has driven network usage and contributed to a recent 7% increase in Solana’s price.

With a strong macro outlook, the analysts expect sustained growth in crypto markets over the next several quarters, supported by stimulative U.S. monetary policy and deficit spending policies.

North Korean Hacker Group BlueNoroff Targets Crypto Firms with New MacOS Malware

North Korean hacker group BlueNoroff is using new MacOS malware to target cryptocurrency firms, according to cybersecurity firm SentinelLabs. Named “Hidden Risk,” the malware is spread through staged PDF files that appear as legitimate crypto market reports or news. Once opened, the malware installs on the MacOS desktop, providing hackers remote access to steal sensitive information, including private keys for crypto wallets.

The FBI and Cybersecurity and Infrastructure Security Agency (CISA) have previously issued warnings about BlueNoroff and related North Korean hacker groups, urging crypto firms to bolster security. In recent years, these hackers have stolen nearly $3 billion through phishing attacks and social engineering schemes targeting employees at crypto exchanges and DeFi firms. BlueNoroff’s tactics continue to evolve, with recent campaigns involving fake job offers to deceive and compromise unsuspecting victims.

Are you ready to take a leap into the world of cryptocurrencies and NFTs? Don't miss out on these opportunities! Share this newsletter with a friend and let's ride this wave together! 🌊

To stay updated and thrive in the world of crypto make sure you are subscribed to our newsletter and follow us on X (twitter)

Tell your blockchain-loving friends about us! Together it's easier to stay updated and improve!

IMPORTANT

Disclaimer: Wealth Wave is just a free newsletter that aims to share information regarding the world of finance, business, investment... We are not financial advisors, which means we don't give financial advice, don't buy stocks, crypto, nfts... just because we talked about it.

We are not responsible in any way for the capital others

Remember "every form of investment involves the risk of losing money, very often all capital" -- Do your research --