The crypto ecosystem saw some of the most exciting news this past week including the submission of filings for Solana ETFs. Here are some of the top stories for the week;
Strike Expands Service to the UK
Bitcoin payments app Strike officially launched its services in the UK this month, joining the likes of Coinbase, eToro, and BitPanda. The expansion came on the heels of the platform’s recent debuts in Europe and Africa. As a result of the expansion, crypto enthusiasts in the UK can now buy, sell, and withdraw Bitcoin (BTC) or Pounds via the Strike app.
Strike CEO, Jack Mallers revealed that Europe will be the firm’s second-largest market following the U.S.
Mt.Gox to Repay Customers From July 1
Defunct cryptocurrency exchange Mt.Gox is finally set to repay affected customers after ten years.
The Rehabilitation Trustee Nobuaki Kobayashi announced that the repayments in Bitcoin and Bitcoin Cash will start from the beginning of July 2024. Thorough preparations have been made to ensure that the repayment process is safe, reliable, and compliant with all necessary regulations.
The process will begin in the order of the cryptocurrency exchanges with which the Rehabilitation Trustee has completed the exchange and confirmation of the required information.
Animoca Brands Plan For Hong Kong IPO
Non-Fungible Token (NFT) and crypto gaming conglomerate Animoca Brands are in the process of going public in Hong Kong or the Middle East.
As of 2022, the value of the Initial Public Offering (IPO) was fixed at $5.9 billion and is scheduled to go live early next year. In preparation for the offering, several investment banks have been actively engaged but the entity is yet to appoint an advisor at this point.
This marks Animoca Brands’ re-entry into the public markets over four years after being delisted from the Australian Securities and Exchange.
VanEck and 21Shares Files for Solana ETFs
Investment asset management firm VanEck has beat its counterparts by becoming the first to file a Solana ETF application with the U.S. SEC.
The proposed product, which will track the price of Solana, is labeled VanEck Solana Trust. VanEck’s Head of Research Matthew Sigel, noted that Solana might serve as a valuable commodity to those looking to break the BTC/ETH duopoly.
Shortly after VanEck’s filing, 21Shares followed suit with its Solana ETF application.
Coinbase Sue’s SEC And FDIC Over FOIA Requests
In response to the SEC and FDIC denial of Coinbase’s Freedom of Information Act (FOIA) requests, the exchange has taken legal action. Coinbase filed two separate lawsuits against both regulators, requesting that the court compel the SEC and FDIC to release the information it requires.
The market is awaiting more interesting news this coming week. Thus far, it is worth noting the first half of 2024 ended on a high note for the crypto sector.
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