US Spot Bitcoin ETFs See $300 Million Weekly Outflow, Breaking Positive Trend

In partnership with

For Those Who Seek Unbiased News.

Be informed with 1440! Join 3.5 million readers who enjoy our daily, factual news updates. We compile insights from over 100 sources, offering a comprehensive look at politics, global events, business, and culture in just 5 minutes. Free from bias and political spin, get your news straight.

Join for free today!

I am glad to see you again in this new edition.

Here is what is happening in the crypto world.

But before we get started be sure to read our newsletter in its entirety, then respond to this email with your opinion on it.

Let's get started

Table of Content

In today edition we talk about

• Vitalik Buterin Donates 100 ETH to Support Tornado Cash Developer Roman Storm's Legal Defense

• Coinbase Pushes for Early Appeal in SEC Lawsuit Following Ripple Case Development

• Tencent and Guillemot Family Reportedly Eye Ubisoft Buyout, Could Take Company Private

• US Spot Bitcoin ETFs See $300 Million Weekly Outflow, Breaking Positive Trend

Vitalik Buterin Donates 100 ETH to Support Tornado Cash Developer Roman Storm's Legal Defense

Ethereum co-founder Vitalik Buterin has donated 100 Ether (approximately $240,000) to the legal defense fund of Tornado Cash developer Roman Storm, marking his third contribution. Storm is facing legal challenges after the U.S. sanctioned Tornado Cash in 2022, accusing it of aiding money laundering. To date, over 327 ETH (valued at around $785,000) has been raised for Storm’s defense through 148 individual contributions. A U.S. court recently allowed the case against Storm to proceed, denying his motion for dismissal. If convicted, Storm could face up to 45 years in prison. The crypto community has rallied in support, with JusticeDAO raising over 654 ETH (over $1.5 million) for the Tornado Cash developers.

Coinbase Pushes for Early Appeal in SEC Lawsuit Following Ripple Case Development

Coinbase has requested an interlocutory appeal in its ongoing case with the SEC, seeking a ruling before the case is fully resolved. This move follows the SEC’s recent appeal in its separate case against Ripple, aiming to align both cases for review by the Second Circuit.Coinbase first filed for the appeal in April, focusing on how the Howey Test, a standard for determining securities, applies to digital assets. The crypto exchange argues that reviewing both cases together would provide a fuller understanding of the SEC’s stance on digital assets, which is of "industry-wide significance."The judge has yet to rule on Coinbase's request, but Ripple’s appeal strengthens Coinbase’s position, making the case more urgent for the crypto industry.

Tencent and Guillemot Family Reportedly Eye Ubisoft Buyout, Could Take Company Private

Tencent, the Chinese tech and gaming giant, is reportedly in talks with the Guillemot family to purchase Ubisoft, potentially taking the French game publisher private. The move comes amid lowered revenue expectations for Ubisoft’s upcoming title, Assassin’s Creed: Shadows. If the buyout proceeds, Ubisoft would no longer be publicly traded, and details on how ownership would be divided between Tencent and the Guillemot family remain unclear. Ubisoft’s shares have rebounded 30% following the rumors, with both companies being early adopters of Web3 and blockchain technology in gaming.

US Spot Bitcoin ETFs See $300 Million Weekly Outflow, Breaking Positive Trend

After three weeks of positive inflows, US-based spot Bitcoin ETFs experienced $300 million in outflows last week, despite a modest inflow on Friday. The total assets held by these funds dropped from $61.21 billion to $57.73 billion, coinciding with Bitcoin's price decline. Bitwise's BITB led Friday’s inflows with $15.3 million, while Grayscale's GBTC saw outflows of $13.9 million. Ethereum ETFs also logged net outflows of $30.7 million, despite a small daily inflow led by BlackRock's ETHA fund. Both Bitcoin and Ethereum prices declined during the week, contributing to the funds' negative performance.

Our team is developing a referral program for our community Follow us on X (twitter) here to stay update

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 --